SLV Options History — April 2025

In April 2025, SLV traded between $26.99 and $30.84. ATM implied volatility averaged 30.9%, placing in the 47.7% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded below realized volatility by 8.2% (HV 20d: 39.1%). Max pain ranged from $28.00 to $28.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.37.

Notable Days

2025-04-11: Highest Volume — 796,084 contracts
2025-04-04: Largest IV spike — 28.1% change
2025-04-11: Highest IV Rank — 80.1%
2025-04-11: Largest Expected Move — 10.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.32	$26.99	$30.84	$30.61	$29.61
Max Pain	$28.05	$28.00	$28.50	$28.00	$28.50
ATM IV	30.9%	25.4%	36.5%	25.4%	27.4%
Expected Move	8.9%	7.3%	10.3%	7.3%	8.3%
HV 20d	39.1%	20.8%	43.4%	22.4%	42.7%
HV 60d	28.3%	20.9%	30.0%	20.9%	29.6%
IV Rank	47.7%	15.7%	80.1%	15.7%	27.2%
IV Percentile	63.3%	17.9%	95.6%	17.9%	37.3%
Term Structure	-0.4%	-1.3%	0.2%	0.1%	0.1%
VWIV	31.8%	27.1%	38.1%	27.1%	29.6%
Skew 25d	-0.7%	-2.8%	3.7%	-2.6%	-0.5%
Skew 10d	-0.8%	-5.2%	8.3%	-4.4%	1.0%
Call IV 25d	32.0%	27.3%	39.0%	27.3%	28.3%
Put IV 25d	31.4%	24.7%	37.5%	24.7%	27.8%
Bid-Ask Spread %	3.23	2.09	5.22	2.26	2.72
Gamma HHI	0.09	0.07	0.13	0.11	0.09
Net GEX	155.4M	56.0M	225.6M	180.5M	176.7M
Net DEX	-3.86B	-5.63B	-674.7M	-5.03B	-4.20B
Net VEX	-24.0M	-26.6M	-21.2M	-21.2M	-23.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.16	0.75	0.37	0.67
Total Volume	474,296.762	203,183	796,084	299,067	356,580
Total OI	6,200,591.19	5,573,902	6,754,370	5,685,207	6,392,346

Daily Data (21 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
2025-04-01	$30.61	$28.00	25.4%	7.3%	22.4%	15.7%	27.1%	-2.6%	0.1%	180.5M	-5.03B	-21.2M	0.37	2.26	217,619	81,448	3,902,220	1,782,987
2025-04-02	$30.84	$28.00	26.2%	7.5%	20.8%	20.3%	27.2%	-2.3%	-0.0%	192.8M	-5.44B	-21.5M	0.48	3.32	349,017	167,148	3,960,418	1,840,465
2025-04-03	$28.87	$28.00	27.3%	7.8%	31.8%	26.3%	28.4%	-2.1%	0.1%	100.8M	-2.86B	-23.1M	0.21	3.30	522,673	111,177	4,131,595	1,912,495
2025-04-04	$27.11	$28.00	34.9%	9.5%	38.6%	70.9%	34.6%	1.3%	-1.3%	63.7M	-744.7M	-23.5M	0.42	4.86	505,649	213,159	4,248,009	1,948,827
2025-04-07	$27.16	$28.00	34.9%	9.7%	38.5%	71.0%	33.8%	2.7%	-0.8%	63.2M	-926.3M	-23.1M	0.36	3.30	350,540	127,387	4,228,331	1,945,093
2025-04-08	$26.99	$28.00	35.0%	9.7%	36.8%	71.5%	34.4%	3.7%	-1.0%	56.0M	-674.7M	-23.1M	0.75	3.94	168,457	126,582	4,274,255	1,996,407
2025-04-09	$28.19	$28.00	32.0%	9.0%	40.4%	53.8%	32.2%	1.2%	-0.7%	103.0M	-2.29B	-24.7M	0.29	4.90	369,597	108,981	4,348,747	2,058,656
2025-04-10	$28.29	$28.00	33.7%	9.5%	39.7%	63.6%	34.6%	-0.4%	-0.6%	107.4M	-2.48B	-25.3M	0.20	5.22	442,576	87,140	4,409,559	2,079,166
2025-04-11	$29.27	$28.00	36.5%	10.3%	42.0%	80.1%	38.1%	-1.5%	-0.7%	157.9M	-4.22B	-26.6M	0.23	3.39	648,802	147,282	4,548,848	2,102,684
2025-04-14	$29.45	$28.00	34.0%	9.7%	42.0%	65.5%	34.6%	-0.7%	-0.2%	188.7M	-4.39B	-25.9M	0.50	2.57	266,481	134,082	4,598,934	2,083,450
2025-04-15	$29.41	$28.00	31.2%	8.9%	41.9%	49.2%	31.3%	-0.4%	-0.3%	165.5M	-4.28B	-25.0M	0.70	2.17	289,264	202,634	4,638,623	2,109,393
2025-04-16	$29.82	$28.00	32.3%	9.2%	42.3%	55.4%	33.1%	-1.4%	-0.1%	195.6M	-4.98B	-25.1M	0.17	3.35	451,798	74,534	4,644,580	2,104,203
2025-04-17	$29.48	$28.00	29.1%	8.4%	42.4%	37.3%	29.9%	-0.2%	-0.2%	153.4M	-4.21B	-24.3M	0.28	2.92	354,739	97,817	4,659,244	2,095,126
2025-04-21	$29.74	$28.00	31.5%	9.1%	42.1%	51.0%	32.7%	-1.8%	-0.4%	170.9M	-4.38B	-24.2M	0.35	2.47	293,782	102,981	3,907,344	1,666,558
2025-04-22	$29.55	$28.00	31.0%	9.0%	42.1%	48.3%	32.5%	-2.0%	-0.3%	161.3M	-4.17B	-24.4M	0.21	3.95	361,858	77,544	3,970,047	1,700,244
2025-04-23	$30.62	$28.00	31.7%	9.3%	43.4%	52.4%	33.6%	-2.8%	-0.7%	206.8M	-5.63B	-24.3M	0.16	2.30	490,248	78,966	4,056,750	1,739,153
2025-04-24	$30.57	$28.00	30.2%	8.9%	43.4%	43.5%	31.4%	-1.9%	-0.4%	225.6M	-5.60B	-24.3M	0.39	2.09	146,104	57,079	4,168,709	1,747,907
2025-04-25	$29.99	$28.00	28.0%	8.2%	42.8%	30.8%	28.7%	-0.7%	-0.6%	204.8M	-4.79B	-23.5M	0.40	2.83	296,717	118,073	4,206,961	1,769,075
2025-04-28	$30.14	$28.00	28.8%	8.7%	42.7%	35.3%	30.6%	-1.1%	-0.1%	190.2M	-4.91B	-23.3M	0.19	2.96	583,679	110,453	4,122,410	1,769,447
2025-04-29	$29.91	$28.50	28.2%	8.4%	42.7%	31.8%	29.7%	-0.9%	0.2%	197.5M	-4.76B	-24.3M	0.36	2.96	198,650	70,935	4,522,784	1,820,365
2025-04-30	$29.61	$28.50	27.4%	8.3%	42.7%	27.2%	29.6%	-0.5%	0.1%	176.7M	-4.20B	-23.9M	0.67	2.72	214,040	142,540	4,554,910	1,837,436