SLV Options History — January 2025

In January 2025, SLV traded between $26.90 and $28.70. ATM implied volatility averaged 24.6%, placing in the 24.2% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 2.0% (HV 20d: 22.6%). Max pain ranged from $25.00 to $28.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.43.

Notable Days

  • 2025-01-10: Highest Volume — 711,368 contracts
  • 2025-01-30: Largest IV spike — 7.6% change
  • 2025-01-30: Highest IV Rank — 31.1%
  • 2025-01-30: Largest Expected Move — 7.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.67$26.90$28.70$26.90$28.46
Max Pain$27.35$25.00$28.00$25.00$27.00
ATM IV24.6%22.7%26.0%25.1%25.1%
Expected Move7.0%6.3%7.5%6.7%7.1%
HV 20d22.6%20.5%24.4%24.1%22.7%
HV 60d27.2%25.2%29.8%29.8%25.2%
IV Rank24.2%14.7%31.1%26.2%26.6%
IV Percentile24.7%14.7%32.5%27.8%25.4%
Term Structure0.1%-0.5%0.7%0.3%0.7%
VWIV24.9%22.2%26.9%24.0%25.5%
Skew 25d-1.8%-2.6%-0.7%-2.1%-1.3%
Skew 10d-3.4%-5.0%-1.5%-2.8%-3.1%
Call IV 25d26.1%23.6%27.4%26.7%26.1%
Put IV 25d24.3%22.6%26.0%24.6%24.9%
Bid-Ask Spread %2.051.622.891.742.66
Gamma HHI0.120.090.150.100.14
Net GEX100.6M61.6M145.6M76.0M135.3M
Net DEX-2.59B-4.03B-1.69B-1.69B-3.45B
Net VEX-19.7M-22.9M-17.3M-17.6M-22.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.430.150.780.290.48
Total Volume365,590.95163,193711,368163,193300,885
Total OI5,422,145.74,503,6966,725,9335,308,0765,394,763

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-01-02$26.90$25.0025.1%6.7%24.1%26.2%24.0%-2.1%0.3%76.0M-1.69B-17.6M0.291.74126,89836,2953,869,8441,438,232
2025-01-03$26.97$25.0024.1%6.3%23.9%21.5%22.2%-1.6%0.1%86.8M-1.73B-17.3M0.351.62150,29252,8273,914,0591,455,218
2025-01-06$27.23$28.0024.5%7.0%24.3%23.4%25.4%-2.5%0.5%92.4M-2.08B-17.4M0.481.75123,12059,5333,896,8701,454,725
2025-01-07$27.36$28.0024.4%6.9%24.2%22.8%24.9%-2.6%0.4%92.8M-2.17B-17.5M0.361.86131,89547,6573,908,0671,478,440
2025-01-08$27.41$28.0024.8%7.0%22.0%24.8%25.2%-2.2%0.4%90.0M-2.20B-17.4M0.421.78142,28160,1433,932,0891,506,187
2025-01-10$27.63$28.0025.3%7.3%22.3%27.2%25.8%-2.5%0.3%98.2M-2.52B-17.9M0.781.90398,788312,5803,970,6401,537,718
2025-01-13$26.95$28.0024.6%6.9%23.6%24.0%24.8%-1.9%-0.5%61.6M-1.81B-17.8M0.731.93272,815199,8054,133,2701,737,372
2025-01-14$27.19$28.0024.7%7.0%21.9%24.6%25.0%-2.0%-0.3%77.8M-2.32B-18.7M0.561.89309,401172,4224,250,4581,813,972
2025-01-15$27.98$28.0025.4%7.2%23.6%28.0%25.1%-2.5%-0.3%120.4M-3.71B-19.4M0.481.68344,326166,1844,421,0041,943,138
2025-01-16$28.06$28.0025.3%7.2%23.6%27.4%25.5%-1.8%-0.2%121.3M-4.03B-20.0M0.171.97345,12059,5774,537,6422,019,053
2025-01-17$27.59$28.0025.5%7.3%24.4%28.7%26.0%-1.9%-0.1%87.5M-3.33B-20.2M0.422.13204,38386,7034,676,4802,049,453
2025-01-21$28.05$28.0025.6%7.3%21.0%28.9%26.1%-1.7%0.0%102.0M-2.54B-20.0M0.152.27279,76540,9563,115,1901,388,506
2025-01-22$28.12$28.0024.1%6.9%20.5%21.6%24.2%-1.8%0.2%113.2M-2.70B-20.1M0.762.16325,359248,0703,212,4821,391,328
2025-01-23$27.70$27.0022.7%6.5%21.0%14.7%23.2%-1.0%-0.0%92.7M-2.23B-20.5M0.681.97300,273203,1223,250,7991,415,626
2025-01-24$27.91$27.0023.3%6.7%21.1%17.4%23.7%-1.5%0.2%103.5M-2.56B-21.6M0.261.89207,00853,7433,385,2671,566,786
2025-01-27$27.46$27.0023.9%6.9%22.0%20.5%24.8%-1.4%0.3%76.3M-1.93B-21.5M0.342.69246,23583,0493,387,5861,574,037
2025-01-28$27.70$27.0024.3%7.0%22.2%22.8%25.4%-1.5%0.3%98.4M-2.34B-21.9M0.202.07184,58936,7413,468,2701,587,491
2025-01-29$27.98$27.0024.2%6.9%21.6%22.1%24.8%-0.7%0.6%140.9M-2.73B-22.3M0.422.09275,782116,6493,531,5221,608,135
2025-01-30$28.70$27.0026.0%7.5%22.4%31.1%26.9%-1.4%0.1%145.6M-3.76B-22.9M0.302.89468,061138,4873,587,7971,633,398
2025-01-31$28.46$27.0025.1%7.1%22.7%26.6%25.5%-1.3%0.7%135.3M-3.45B-22.6M0.482.66203,46897,4173,690,2131,704,550