SLV Options History — September 2023

In September 2023, SLV traded between $20.36 and $22.16. ATM implied volatility averaged 21.9%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded above realized volatility by 0.5% (HV 20d: 21.5%). Max pain ranged from $21.00 to $22.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.68.

Notable Days

  • 2023-09-06: Highest Volume — 349,201 contracts
  • 2023-09-27: Largest IV spike — 5.5% change
  • 2023-09-29: Highest IV Rank — 21.8%
  • 2023-09-29: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.15$20.36$22.16$22.16$20.36
Max Pain$21.48$21.00$22.00$21.00$21.00
ATM IV21.9%20.5%23.9%20.5%23.9%
Expected Move6.3%5.5%6.9%5.5%6.9%
HV 20d21.5%17.3%24.6%21.9%18.2%
HV 60d23.9%22.9%25.4%25.4%23.2%
IV Rank8.8%0.0%21.8%0.0%21.8%
IV Percentile7.7%0.0%30.2%0.0%30.2%
Term Structure0.0%-0.5%0.4%0.3%0.1%
VWIV23.0%20.1%24.8%20.1%24.7%
Skew 25d-1.0%-1.6%0.1%-1.5%-0.5%
Skew 10d-1.9%-3.4%0.5%-2.1%0.4%
Call IV 25d23.3%22.0%24.8%22.0%24.8%
Put IV 25d22.2%20.5%24.5%20.5%24.4%
Bid-Ask Spread %1.301.051.591.181.27
Gamma HHI0.140.110.170.170.12
Net GEX47.5M23.2M79.4M75.9M23.2M
Net DEX-856.5M-1.60B-308.2M-1.60B-308.2M
Net VEX-10.3M-10.9M-9.6M-10.8M-9.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.102.770.490.32
Total Volume192,069.2584,826349,201202,968319,065
Total OI4,938,111.054,326,7385,512,4495,136,2794,743,024

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-09-01$22.16$21.0020.5%5.5%21.9%0.0%20.1%-1.5%0.3%75.9M-1.60B-10.8M0.491.18136,12466,8444,019,3551,116,924
2023-09-05$21.61$22.0021.4%6.3%22.5%5.8%23.2%-1.6%0.2%54.1M-1.09B-10.4M0.511.24165,28384,8144,018,3331,094,996
2023-09-06$21.23$22.0021.9%6.2%22.8%8.5%24.6%-1.2%0.2%42.4M-816.3M-10.2M1.111.26165,689183,5124,068,6861,111,897
2023-09-07$21.07$22.0021.6%6.3%23.0%6.6%23.6%-1.1%-0.0%38.9M-719.2M-10.1M1.191.0597,671116,6424,133,4821,131,511
2023-09-08$21.01$22.0021.5%6.2%23.0%6.0%24.8%-1.1%0.1%40.5M-691.3M-10.2M0.521.05147,43976,8744,176,4001,134,260
2023-09-11$21.16$22.0021.7%6.2%23.1%7.6%24.1%-1.5%-0.2%43.5M-817.1M-10.3M0.821.3177,26663,4734,213,8131,148,163
2023-09-12$21.13$22.0021.7%6.1%23.1%7.6%22.5%-1.5%-0.5%43.1M-781.1M-10.2M1.541.1356,34187,0294,242,9841,153,730
2023-09-13$20.94$22.0021.5%6.1%23.3%6.4%22.3%-1.1%-0.2%33.8M-613.0M-9.8M2.771.2990,800251,9024,260,2201,149,075
2023-09-14$20.70$22.0021.9%6.3%23.6%8.4%22.5%-1.4%-0.1%25.4M-462.8M-9.6M0.541.11195,164105,7144,246,8071,139,434
2023-09-15$21.13$21.0021.5%6.1%24.5%6.1%22.7%-1.3%-0.5%47.6M-915.7M-10.2M0.391.22160,69862,9224,363,2751,149,174
2023-09-18$21.29$21.0022.2%6.3%24.6%10.5%22.7%-1.2%0.1%47.2M-951.6M-10.4M0.101.35167,93716,8583,369,353957,385
2023-09-19$21.29$21.0021.7%6.2%23.0%7.4%22.3%-1.1%0.2%56.2M-1.01B-10.7M0.241.3571,96017,0603,513,362965,775
2023-09-20$21.39$21.0021.3%6.1%23.0%4.6%22.1%-1.4%0.4%61.6M-1.11B-10.7M0.311.5981,46025,0703,528,349975,323
2023-09-21$21.48$21.0021.6%6.2%18.2%7.0%22.4%-0.9%0.0%68.9M-1.18B-10.8M0.331.3981,05226,7283,564,567981,952
2023-09-22$21.59$21.0021.2%6.1%18.2%4.3%21.9%-1.2%0.1%79.4M-1.28B-10.9M0.391.3384,33932,9513,575,862993,179
2023-09-25$21.20$21.5021.7%6.2%19.0%7.2%22.3%-1.0%0.1%54.1M-929.8M-10.4M0.331.4663,59621,2303,555,945988,862
2023-09-26$20.95$21.5022.4%6.4%19.3%11.6%23.2%-0.4%0.2%44.0M-742.5M-10.3M0.481.39122,91258,5873,569,330995,232
2023-09-27$20.66$21.5023.6%6.9%17.3%19.6%24.3%0.1%0.3%33.8M-521.8M-10.2M0.351.46115,94240,0743,656,7801,029,250
2023-09-28$20.73$21.0023.4%6.7%17.5%18.2%23.8%-0.0%0.1%37.0M-594.6M-10.4M0.791.4857,21545,1483,692,6611,033,511
2023-09-29$20.36$21.0023.9%6.9%18.2%21.8%24.7%-0.5%0.1%23.2M-308.2M-9.8M0.321.27241,57477,4913,707,1481,035,876