SLV Options History — July 2023

In July 2023, SLV traded between $20.84 and $23.09. ATM implied volatility averaged 23.0%, placing in the 6.1% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded below realized volatility by 2.7% (HV 20d: 25.8%). Max pain ranged from $21.50 to $22.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 0.78.

Notable Days

  • 2023-07-12: Highest Volume — 359,005 contracts
  • 2023-07-31: Largest IV spike — 4.7% change
  • 2023-07-18: Highest IV Rank — 11.7%
  • 2023-07-13: Largest Expected Move — 7.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.18$20.84$23.09$21.01$22.69
Max Pain$21.95$21.50$22.00$21.50$22.00
ATM IV23.0%21.7%23.9%22.6%22.7%
Expected Move6.6%6.1%7.0%6.3%6.3%
HV 20d25.8%22.6%29.3%25.2%26.7%
HV 60d24.2%22.4%26.1%22.4%26.1%
IV Rank6.1%0.0%11.7%2.8%7.0%
IV Percentile3.5%0.0%8.7%1.2%2.8%
Term Structure0.1%-0.4%0.6%0.3%-0.4%
VWIV23.7%22.2%24.9%22.4%22.6%
Skew 25d-1.4%-2.8%-0.2%-0.5%-1.7%
Skew 10d-2.5%-5.5%0.0%-0.7%-2.6%
Call IV 25d24.5%22.7%26.4%23.9%24.5%
Put IV 25d23.2%21.6%23.9%23.4%22.8%
Bid-Ask Spread %1.210.951.571.571.26
Gamma HHI0.120.080.140.090.14
Net GEX77.6M46.8M107.3M50.8M82.8M
Net DEX-1.61B-2.36B-717.8M-856.7M-1.81B
Net VEX-12.9M-14.0M-12.2M-12.5M-12.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.780.171.621.180.86
Total Volume146,329.573,665359,005105,621108,154
Total OI4,830,891.44,491,8825,000,6374,789,9914,655,694

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-07-03$21.01$21.5022.6%6.3%25.2%2.8%22.4%-0.5%0.3%50.8M-856.7M-12.5M1.181.5748,36857,2533,818,491971,500
2023-07-05$21.23$21.5023.1%6.5%25.5%6.1%23.3%-0.6%0.2%58.3M-989.3M-12.6M1.621.4350,18881,1653,853,287985,043
2023-07-06$20.84$22.0023.1%6.7%26.3%5.9%24.1%-0.2%0.4%46.8M-717.8M-12.2M1.371.4438,27952,5793,867,8491,009,070
2023-07-07$21.20$22.0022.6%6.6%27.1%2.6%24.0%-0.5%0.3%50.9M-937.1M-12.5M0.321.27102,77133,2323,879,7051,031,749
2023-07-10$21.23$22.0022.9%6.6%23.8%4.9%24.3%-0.4%0.0%52.3M-960.2M-12.4M0.571.0749,39028,0223,869,2431,024,573
2023-07-11$21.20$22.0022.9%6.6%23.8%4.8%24.9%-0.5%0.0%55.2M-972.5M-12.5M0.401.0752,48021,1853,896,3821,023,511
2023-07-12$22.13$22.0023.3%6.7%28.6%7.6%24.6%-1.3%0.3%85.9M-1.71B-13.6M0.661.17216,843142,1623,907,9771,033,335
2023-07-13$22.74$22.0023.8%7.0%29.3%11.6%24.6%-1.8%0.6%107.3M-2.19B-14.0M0.321.17171,40955,4293,947,6921,036,668
2023-07-14$22.86$22.0022.9%6.6%29.0%4.5%23.6%-2.2%0.4%102.2M-2.22B-13.9M0.330.96130,63943,3693,942,7241,053,942
2023-07-17$22.80$22.0023.5%6.7%29.0%9.2%23.6%-1.9%0.1%96.6M-2.10B-13.6M0.181.01138,84325,5483,912,9021,047,426
2023-07-18$22.98$22.0023.9%6.8%28.9%11.7%24.3%-2.8%0.3%101.2M-2.28B-13.8M0.441.03110,02448,2483,910,8161,051,371
2023-07-19$23.09$22.0023.6%6.8%23.8%9.8%24.8%-2.2%0.0%103.7M-2.36B-13.7M1.061.0177,44382,4233,921,0991,075,429
2023-07-20$22.71$22.0023.5%6.8%23.2%9.3%23.9%-1.7%-0.4%89.8M-2.02B-13.2M0.171.16114,02518,8473,920,1571,080,480
2023-07-21$22.56$22.0022.7%6.5%22.6%3.6%23.0%-1.8%-0.2%78.0M-1.84B-12.8M0.490.9560,72429,5783,901,9731,087,085
2023-07-24$22.32$22.0022.9%6.6%23.2%5.1%23.5%-1.6%0.2%77.0M-1.58B-12.4M0.891.3963,02956,1453,563,577928,305
2023-07-25$22.63$22.0023.1%6.6%23.0%5.9%23.6%-1.3%0.1%81.1M-1.77B-12.6M1.031.2636,83238,0983,595,008949,239
2023-07-26$22.89$22.0023.3%6.6%23.2%7.7%23.9%-1.8%0.2%86.2M-2.00B-12.9M1.521.2878,045118,2993,613,209964,431
2023-07-27$22.13$22.0022.5%6.4%26.6%2.0%23.1%-1.4%0.3%72.8M-1.39B-12.2M0.721.36124,23089,0333,638,150970,793
2023-07-28$22.30$22.0021.7%6.1%26.4%0.0%22.2%-1.1%0.2%73.0M-1.53B-12.2M1.371.3156,69577,5643,674,5971,003,346
2023-07-31$22.69$22.0022.7%6.3%26.7%7.0%22.6%-1.7%-0.4%82.8M-1.81B-12.5M0.861.2658,13650,0183,648,2511,007,443