SLV Options History — March 2025

In March 2025, SLV traded between $28.70 and $31.32. ATM implied volatility averaged 25.9%, placing in the 26.7% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 4.4% (HV 20d: 21.5%). Max pain ranged from $26.00 to $28.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.39.

Notable Days

  • 2025-03-13: Highest Volume — 561,585 contracts
  • 2025-03-27: Largest IV spike — 12.4% change
  • 2025-03-13: Highest IV Rank — 37.1%
  • 2025-03-11: Largest Expected Move — 8.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.24$28.70$31.32$28.70$30.99
Max Pain$27.43$26.00$28.00$26.00$28.00
ATM IV25.9%22.9%27.9%25.4%26.1%
Expected Move7.6%6.9%8.5%7.6%7.5%
HV 20d21.5%19.2%22.9%19.2%21.8%
HV 60d21.5%20.1%22.6%21.9%21.1%
IV Rank26.7%11.1%37.1%25.0%24.7%
IV Percentile24.4%2.0%42.9%22.6%24.2%
Term Structure-0.0%-0.7%0.7%0.7%0.2%
VWIV26.9%23.6%29.6%27.5%27.2%
Skew 25d-1.6%-2.6%-0.7%-1.0%-2.6%
Skew 10d-2.7%-4.1%-0.7%-1.6%-4.1%
Call IV 25d27.3%23.9%29.6%26.1%28.1%
Put IV 25d25.7%22.9%27.5%25.1%25.4%
Bid-Ask Spread %2.522.043.653.322.46
Gamma HHI0.140.100.310.130.10
Net GEX213.0M95.4M325.9M95.4M188.5M
Net DEX-5.32B-6.71B-3.15B-3.15B-5.82B
Net VEX-22.0M-23.0M-21.0M-21.3M-21.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.390.200.660.480.20
Total Volume371,192.333191,329561,585265,301288,042
Total OI6,128,878.0955,612,6886,576,2165,612,6886,123,856

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-03-03$28.70$26.0025.4%7.6%19.2%25.0%27.5%-1.0%0.7%95.4M-3.15B-21.3M0.483.32178,95486,3473,855,1211,757,567
2025-03-04$29.01$26.0025.5%7.4%19.3%25.5%25.4%-1.1%0.0%121.1M-3.57B-21.6M0.662.62197,958131,3733,918,4871,794,967
2025-03-05$29.77$27.0027.2%8.0%20.4%33.4%28.4%-1.6%0.4%165.9M-4.64B-22.1M0.232.04441,17999,3703,997,0331,822,369
2025-03-06$29.69$27.0027.2%8.0%20.4%33.7%28.4%-1.8%0.0%188.1M-4.78B-23.0M0.372.14139,52351,8064,202,5411,860,945
2025-03-07$29.59$27.0026.2%7.6%20.4%28.3%26.8%-1.4%0.1%195.0M-4.71B-22.8M0.402.44150,76760,8204,253,9211,888,334
2025-03-10$29.19$27.0026.4%8.1%20.4%29.5%28.3%-1.5%0.0%154.1M-4.01B-22.4M0.663.65168,091110,2664,211,1031,832,431
2025-03-11$29.98$27.0027.6%8.5%22.4%35.5%29.6%-1.9%-0.4%195.9M-5.12B-22.7M0.252.17356,15487,6014,228,2421,889,543
2025-03-12$30.24$27.0027.4%8.1%22.4%34.3%28.8%-1.4%-0.2%225.5M-5.66B-23.0M0.262.06240,41861,8394,360,5711,928,194
2025-03-13$30.80$27.0027.9%8.5%22.8%37.1%29.2%-2.1%-0.3%247.0M-6.51B-22.6M0.302.54430,912130,6734,396,3321,934,249
2025-03-14$30.69$27.0027.6%7.9%22.9%35.5%28.2%-1.9%-0.5%236.2M-6.38B-23.0M0.312.08286,52689,5954,465,0982,011,778
2025-03-17$30.82$28.0027.4%7.8%22.6%34.4%27.2%-1.9%-0.7%244.8M-6.47B-22.5M0.492.92154,69275,1544,430,1621,953,850
2025-03-18$30.95$28.0026.6%7.8%21.3%30.3%27.9%-1.7%-0.2%256.6M-6.71B-22.5M0.252.74376,62795,4544,469,5961,981,473
2025-03-19$30.74$28.0025.5%7.4%21.5%24.7%25.9%-1.2%-0.3%247.7M-6.30B-22.2M0.262.56371,81598,4164,486,2002,013,333
2025-03-20$30.51$28.0025.0%7.3%21.7%21.8%25.8%-0.7%-0.6%253.9M-5.88B-21.8M0.342.56185,66162,2164,503,1232,027,433
2025-03-21$29.95$28.0024.4%7.1%22.5%19.0%24.9%-1.3%-0.4%325.9M-4.93B-21.4M0.612.31243,972148,9834,533,4962,042,720
2025-03-24$29.99$28.0024.1%7.1%22.4%17.1%25.6%-1.5%0.3%155.4M-4.30B-21.0M0.642.24228,485146,6573,995,0241,706,458
2025-03-25$30.61$28.0024.1%7.1%21.6%17.2%23.6%-1.7%0.4%230.3M-5.22B-21.1M0.542.46359,311194,4564,011,7451,718,624
2025-03-26$30.52$28.0022.9%6.9%21.7%11.1%24.4%-1.0%0.6%234.9M-5.14B-21.3M0.512.44187,47894,9394,088,6731,782,892
2025-03-27$31.32$28.0025.8%7.5%21.4%25.8%26.5%-2.3%0.1%250.0M-6.54B-21.5M0.232.42392,23189,1964,191,5601,827,815
2025-03-28$30.91$28.0024.4%7.2%22.1%16.2%25.9%-1.6%0.3%262.1M-5.98B-21.9M0.252.79401,88699,1964,342,1481,867,433
2025-03-31$30.99$28.0026.1%7.5%21.8%24.7%27.2%-2.6%0.2%188.5M-5.82B-21.3M0.202.46239,91448,1284,248,0591,875,797