SLV Options History — August 2023

In August 2023, SLV traded between $20.57 and $22.70. ATM implied volatility averaged 22.1%, placing in the 7.1% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded below realized volatility by 1.9% (HV 20d: 24.1%). Max pain ranged from $21.00 to $22.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 17 of 23 days. Put/call ratio averaged 1.11.

Notable Days

2023-08-23: Highest Volume — 339,079 contracts
2023-08-10: Largest IV drop — 4.1% change
2023-08-23: Highest IV Rank — 16.1%
2023-08-03: Largest Expected Move — 6.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$21.52	$20.57	$22.70	$22.31	$22.41
Max Pain	$21.09	$21.00	$22.00	$22.00	$21.00
ATM IV	22.1%	20.7%	23.2%	22.7%	21.1%
Expected Move	6.3%	5.9%	6.7%	6.4%	5.9%
HV 20d	24.1%	20.7%	29.4%	27.8%	21.4%
HV 60d	25.1%	24.4%	26.4%	25.8%	25.3%
IV Rank	7.1%	0.0%	16.1%	7.2%	2.7%
IV Percentile	3.3%	0.0%	12.7%	3.2%	0.4%
Term Structure	0.1%	-0.4%	0.6%	-0.4%	0.3%
VWIV	23.2%	20.7%	25.0%	22.6%	20.7%
Skew 25d	-1.1%	-1.8%	-0.0%	-1.3%	-0.9%
Skew 10d	-1.8%	-3.1%	-0.6%	-2.8%	-1.4%
Call IV 25d	23.5%	21.5%	24.9%	24.1%	22.2%
Put IV 25d	22.4%	20.7%	23.5%	22.7%	21.3%
Bid-Ask Spread %	1.09	0.86	1.69	1.69	0.95
Gamma HHI	0.14	0.11	0.18	0.16	0.18
Net GEX	62.2M	37.5M	97.8M	70.0M	87.0M
Net DEX	-1.10B	-2.07B	-423.8M	-1.51B	-1.80B
Net VEX	-11.0M	-12.1M	-10.0M	-12.1M	-11.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.11	0.39	2.00	0.87	2.00
Total Volume	174,586.783	77,905	339,079	77,905	127,778
Total OI	4,961,612.913	4,694,076	5,143,838	4,694,076	5,119,390

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2023-08-01	$22.31	$22.00	22.7%	6.4%	27.8%	7.2%	22.6%	-1.3%	-0.4%	70.0M	-1.51B	-12.1M	0.87	1.69	41,669	36,236	3,674,331	1,019,745
2023-08-02	$21.77	$22.00	23.1%	6.6%	29.3%	9.9%	23.4%	-1.5%	-0.4%	56.2M	-1.12B	-11.7M	1.66	1.26	77,214	128,428	3,688,905	1,024,090
2023-08-03	$21.63	$21.00	23.2%	6.7%	28.5%	10.7%	24.3%	-1.4%	-0.4%	53.1M	-1.03B	-11.6M	1.54	1.03	48,798	75,195	3,705,445	1,025,005
2023-08-04	$21.66	$21.00	22.4%	6.6%	27.9%	4.6%	24.6%	-1.4%	-0.2%	56.7M	-1.03B	-11.5M	1.18	1.10	55,080	65,116	3,716,730	1,030,445
2023-08-07	$21.20	$21.00	22.4%	6.4%	29.0%	5.2%	24.3%	-1.2%	0.2%	44.6M	-763.4M	-10.9M	0.47	0.95	129,727	61,550	3,696,044	1,006,637
2023-08-08	$20.91	$21.00	22.3%	6.4%	29.4%	4.4%	24.1%	-1.1%	0.1%	38.1M	-542.4M	-10.2M	0.39	1.00	213,415	84,018	3,762,977	1,011,906
2023-08-09	$20.82	$21.00	22.4%	6.5%	24.5%	4.8%	25.0%	-0.6%	0.5%	43.8M	-589.4M	-11.0M	1.57	0.97	101,051	158,859	3,898,580	1,028,342
2023-08-10	$20.84	$21.00	21.4%	6.2%	21.8%	0.0%	24.4%	-0.9%	0.3%	43.1M	-559.4M	-10.5M	0.95	1.02	95,817	91,101	3,945,947	1,037,605
2023-08-11	$20.80	$21.00	20.7%	6.0%	21.6%	0.0%	21.8%	-0.8%	0.6%	40.4M	-522.8M	-10.4M	0.97	1.16	88,215	85,722	3,970,343	1,054,982
2023-08-14	$20.73	$21.00	21.5%	6.2%	21.5%	5.0%	23.9%	-1.1%	0.3%	40.1M	-488.7M	-10.2M	0.74	0.89	93,683	68,954	3,936,865	1,036,105
2023-08-15	$20.66	$21.00	21.3%	6.1%	21.0%	3.4%	22.7%	-1.2%	-0.0%	39.4M	-467.5M	-10.0M	1.24	0.86	50,481	62,381	3,979,928	1,041,081
2023-08-16	$20.57	$21.00	21.8%	6.2%	20.7%	6.7%	23.0%	-1.0%	0.0%	37.5M	-423.8M	-10.0M	1.33	0.87	71,578	95,140	3,998,378	1,035,921
2023-08-17	$20.79	$21.00	22.1%	6.3%	21.1%	9.1%	23.1%	-1.1%	0.2%	45.6M	-579.4M	-10.3M	0.68	0.90	101,046	68,398	4,044,689	1,045,648
2023-08-18	$20.87	$21.00	22.3%	6.4%	21.2%	10.0%	23.4%	-0.0%	0.3%	50.6M	-632.0M	-10.5M	1.65	0.89	54,463	89,824	4,088,218	1,055,620
2023-08-21	$21.38	$21.00	23.1%	6.6%	23.3%	15.2%	23.6%	-0.8%	0.1%	64.1M	-1.08B	-11.0M	0.62	1.18	102,383	63,386	3,936,549	999,655
2023-08-22	$21.46	$21.00	22.4%	6.4%	22.6%	11.1%	22.8%	-0.7%	0.0%	70.6M	-1.18B	-11.4M	0.69	1.23	78,275	54,015	3,961,169	1,009,452
2023-08-23	$22.29	$21.00	23.2%	6.7%	26.4%	16.1%	23.6%	-1.4%	0.2%	94.9M	-1.85B	-12.1M	1.13	1.34	159,495	179,584	4,000,932	1,023,725
2023-08-24	$22.12	$21.00	22.3%	6.3%	23.7%	10.1%	22.9%	-1.4%	0.2%	92.7M	-1.71B	-12.0M	1.59	1.23	48,651	77,149	4,031,200	1,069,018
2023-08-25	$22.23	$21.00	21.8%	6.1%	23.6%	6.6%	22.0%	-0.8%	0.3%	87.3M	-1.80B	-11.9M	0.58	1.14	110,438	63,541	4,044,707	1,076,570
2023-08-28	$22.21	$21.00	22.0%	6.2%	22.7%	7.9%	23.1%	-1.3%	0.3%	82.5M	-1.66B	-11.2M	1.36	1.08	48,829	66,272	3,988,499	1,071,448
2023-08-29	$22.70	$21.00	22.1%	6.2%	23.2%	8.5%	22.0%	-1.1%	0.2%	97.8M	-2.07B	-11.3M	0.62	1.20	109,159	67,856	4,005,636	1,082,519
2023-08-30	$22.55	$21.00	21.5%	6.0%	21.4%	4.9%	21.9%	-1.8%	-0.0%	94.5M	-1.99B	-11.2M	1.64	1.14	100,672	164,854	4,045,211	1,090,905
2023-08-31	$22.41	$21.00	21.1%	5.9%	21.4%	2.7%	20.7%	-0.9%	0.3%	87.0M	-1.80B	-11.0M	2.00	0.95	42,581	85,197	4,015,601	1,103,789