SLV Options History — February 2025

In February 2025, SLV traded between $28.29 and $29.91. ATM implied volatility averaged 26.4%, placing in the 31.4% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 5.9% (HV 20d: 20.5%). Max pain ranged from $26.00 to $27.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.36.

Notable Days

  • 2025-02-04: Highest Volume — 724,154 contracts
  • 2025-02-14: Largest IV drop — 7.8% change
  • 2025-02-13: Highest IV Rank — 41.5%
  • 2025-02-13: Largest Expected Move — 8.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.21$28.29$29.91$28.70$28.29
Max Pain$26.16$26.00$27.00$27.00$26.00
ATM IV26.4%24.2%28.6%26.9%24.3%
Expected Move7.6%7.1%8.2%7.7%7.2%
HV 20d20.5%18.4%23.2%21.8%18.7%
HV 60d22.7%21.7%25.5%25.2%21.7%
IV Rank31.4%18.9%41.5%35.2%19.3%
IV Percentile31.5%12.7%48.4%35.7%12.7%
Term Structure0.0%-0.7%1.3%0.4%1.3%
VWIV27.3%24.2%29.5%27.5%25.9%
Skew 25d-1.8%-3.3%0.1%-2.3%-1.3%
Skew 10d-3.6%-6.3%-0.3%-4.9%-1.5%
Call IV 25d27.8%24.3%30.7%28.7%25.2%
Put IV 25d26.0%23.9%27.4%26.4%23.9%
Bid-Ask Spread %2.912.007.302.192.33
Gamma HHI0.150.120.260.150.12
Net GEX154.6M74.8M231.1M141.0M74.8M
Net DEX-4.25B-5.40B-2.55B-3.82B-2.55B
Net VEX-23.0M-24.3M-21.4M-22.7M-21.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.360.170.650.250.49
Total Volume313,703.737137,361724,154307,176173,008
Total OI5,883,038.3165,428,0946,251,6655,428,0945,714,770

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-02-03$28.70$27.0026.9%7.7%21.8%35.2%27.5%-2.3%0.4%141.0M-3.82B-22.7M0.252.19246,24560,9313,710,2971,717,797
2025-02-04$29.23$27.0026.9%7.6%22.4%35.4%27.2%-2.4%0.2%164.3M-4.53B-22.8M0.432.53506,137218,0173,781,0221,738,205
2025-02-05$29.41$27.0027.6%7.9%22.4%38.6%28.3%-2.2%0.3%171.6M-4.73B-23.9M0.264.30366,99296,1974,002,2421,886,682
2025-02-06$29.36$26.0026.0%7.6%22.4%31.2%27.1%-0.6%-0.0%186.5M-4.71B-23.8M0.252.51139,51735,1624,083,0791,863,646
2025-02-07$28.98$26.0026.1%7.7%23.2%31.6%27.4%-1.2%0.1%231.1M-4.09B-23.7M0.434.43287,269123,0014,101,8051,867,982
2025-02-10$29.16$26.0027.5%8.0%23.2%38.5%28.8%-1.8%0.4%160.5M-4.26B-23.4M0.373.53229,12783,6954,062,4621,852,929
2025-02-11$28.98$26.0027.8%8.0%21.1%39.8%29.5%-2.0%-0.2%152.2M-3.92B-24.0M0.352.36174,92861,9164,068,0561,886,268
2025-02-12$29.34$26.0028.1%8.0%21.2%41.3%28.7%-3.3%-0.3%186.4M-4.55B-23.8M0.342.16289,12096,8794,128,9711,906,785
2025-02-13$29.46$26.0028.6%8.2%19.1%41.5%29.3%-3.3%0.1%202.2M-4.84B-24.3M0.172.00233,07840,2084,204,2091,947,526
2025-02-14$29.23$26.0026.4%7.7%19.4%30.0%27.8%-2.2%0.6%160.6M-4.47B-24.2M0.347.30364,483123,6864,284,4481,967,217
2025-02-18$29.91$26.0028.0%8.0%19.4%38.6%28.3%-2.8%-0.1%187.6M-5.40B-23.4M0.252.15332,89483,4054,171,8811,919,033
2025-02-19$29.84$26.0027.2%7.8%19.0%34.2%27.4%-1.7%-0.1%197.6M-5.30B-22.9M0.242.59204,97948,6854,248,8421,971,317
2025-02-20$29.91$26.0026.2%7.5%19.0%28.9%26.4%-2.1%0.2%185.0M-5.36B-22.4M0.653.08176,565114,1034,159,2171,967,239
2025-02-21$29.61$26.0025.9%7.4%18.4%27.4%26.9%-2.2%-0.3%136.2M-4.90B-22.4M0.442.46179,85379,8614,175,4452,031,554
2025-02-24$29.44$26.0025.1%7.2%18.6%23.2%24.2%-1.5%-0.6%120.7M-3.95B-22.0M0.452.27111,27850,1033,785,2331,744,890
2025-02-25$28.79$26.0024.8%7.2%19.5%21.8%26.3%-1.1%-0.7%91.8M-3.17B-21.4M0.472.27171,56380,1683,804,7921,762,786
2025-02-26$28.98$26.0024.2%7.1%19.5%18.9%24.9%0.1%-0.5%107.7M-3.41B-21.7M0.192.64115,28022,0813,835,2931,769,722
2025-02-27$28.39$26.0024.5%7.2%20.8%20.2%25.9%-0.7%-0.6%79.6M-2.73B-21.8M0.522.19157,67482,2833,885,0451,769,041
2025-02-28$28.29$26.0024.3%7.2%18.7%19.3%25.9%-1.3%1.3%74.8M-2.55B-21.8M0.492.33115,98457,0243,930,3521,784,418