SLV Options History — May 2025

In May 2025, SLV traded between $29.13 and $30.51. ATM implied volatility averaged 26.0%, placing in the 19.0% IV rank vs the trailing year. The 30-day expected move averaged 7.5%. IV traded above realized volatility by 0.0% (HV 20d: 26.0%). 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 13 of 21 days. Put/call ratio averaged 0.40.

Notable Days

  • 2025-05-21: Highest Volume — 434,124 contracts
  • 2025-05-21: Largest IV spike — 9.5% change
  • 2025-05-06: Highest IV Rank — 35.9%
  • 2025-05-06: Largest Expected Move — 8.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.80$29.13$30.51$29.43$29.98
Max Pain$28.05$28.00$28.50$28.50$28.00
ATM IV26.0%24.2%28.9%27.1%24.3%
Expected Move7.5%6.9%8.3%8.2%7.0%
HV 20d26.0%22.9%42.5%42.5%23.3%
HV 60d30.3%29.4%30.8%29.4%30.1%
IV Rank19.0%9.0%35.9%25.5%9.1%
IV Percentile23.2%5.2%52.0%32.9%5.6%
Term Structure0.0%-0.7%0.8%-0.0%0.8%
VWIV26.9%22.2%30.1%29.0%25.4%
Skew 25d-1.7%-2.9%-0.6%-0.8%-1.8%
Skew 10d-3.2%-6.1%0.0%-0.7%-3.5%
Call IV 25d27.5%25.5%31.2%27.9%25.6%
Put IV 25d25.8%23.8%28.6%27.1%23.8%
Bid-Ask Spread %2.321.923.782.462.02
Gamma HHI0.090.080.100.090.09
Net GEX176.1M120.5M212.1M143.5M183.7M
Net DEX-4.29B-5.19B-3.40B-3.88B-4.41B
Net VEX-22.8M-24.4M-21.3M-24.3M-21.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.400.121.000.500.35
Total Volume248,349.857148,730434,124205,577191,101
Total OI6,293,872.8575,634,0336,701,2976,488,9926,080,928

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$29.43$28.5027.1%8.2%42.5%25.5%29.0%-0.8%-0.0%143.5M-3.88B-24.3M0.502.46136,83968,7384,569,5531,919,439
2025-05-02$29.13$28.5026.0%7.5%35.5%19.0%26.9%-0.6%0.1%120.5M-3.40B-23.8M0.422.21136,85557,6814,601,0091,946,469
2025-05-05$29.54$28.0026.4%7.6%26.7%21.5%26.8%-1.2%0.3%166.0M-4.03B-23.6M1.002.55194,275194,7744,490,8001,882,092
2025-05-06$30.23$28.0028.9%8.3%27.5%35.9%30.1%-2.6%0.1%186.5M-5.19B-24.3M0.232.63349,49880,7814,506,2051,959,115
2025-05-07$29.48$28.0027.5%7.8%29.3%27.5%28.7%-1.7%-0.0%163.4M-4.00B-24.4M0.262.73197,10851,7084,664,2531,974,638
2025-05-08$29.46$28.0026.7%7.7%25.4%23.2%27.6%-1.2%0.3%165.5M-4.03B-24.2M0.512.60135,85069,6264,676,8141,964,076
2025-05-09$29.77$28.0026.4%7.7%25.6%21.4%27.5%-1.5%0.2%185.8M-4.55B-24.1M0.352.08159,39455,4344,715,2661,986,031
2025-05-12$29.59$28.0025.9%7.4%22.9%18.6%26.6%-1.6%-0.1%169.7M-4.16B-23.1M0.372.17206,61875,6614,678,7681,948,500
2025-05-13$29.95$28.0025.4%7.4%23.2%15.9%26.5%-1.1%0.2%192.0M-4.80B-22.7M0.242.13151,87037,1364,602,3931,968,461
2025-05-14$29.21$28.0025.4%7.3%24.9%15.6%26.7%-1.1%0.2%149.7M-3.49B-22.6M0.642.18126,51280,6164,656,5701,978,153
2025-05-15$29.59$28.0025.6%7.3%24.8%16.6%26.2%-2.0%0.0%171.3M-4.18B-22.6M0.462.24130,88960,6034,640,0301,986,658
2025-05-16$29.31$28.0024.4%7.0%24.7%9.8%24.8%-1.4%0.2%140.2M-3.74B-21.9M0.692.1394,11765,2494,671,7762,000,567
2025-05-19$29.43$28.0024.3%7.0%24.6%9.3%22.2%-1.7%0.1%146.5M-3.41B-21.3M0.931.9395,71688,8354,022,2561,611,777
2025-05-20$30.12$28.0025.6%7.3%25.8%16.5%26.4%-2.1%0.1%172.0M-4.45B-22.0M0.202.19308,33862,5454,062,3351,669,465
2025-05-21$30.51$28.0028.0%8.0%22.9%30.7%29.3%-2.9%-0.2%210.1M-4.99B-22.6M0.122.16386,01548,1094,142,7581,668,410
2025-05-22$30.05$28.0026.3%7.5%23.5%20.8%27.6%-2.4%-0.1%197.1M-4.46B-22.7M0.152.22255,41438,6304,277,0401,655,446
2025-05-23$30.45$28.0026.8%7.7%23.0%24.5%29.6%-2.8%0.1%204.9M-5.01B-22.7M0.192.24236,33244,5004,310,5521,674,458
2025-05-27$30.23$28.0025.8%7.4%23.1%18.2%26.3%-2.0%-0.6%208.4M-4.71B-21.7M0.171.92158,07226,9074,311,7561,649,181
2025-05-28$29.98$28.0024.2%6.9%23.1%9.0%24.5%-1.7%-0.7%209.5M-4.38B-21.3M0.343.78155,47252,7994,363,0961,658,978
2025-05-29$30.30$28.0024.6%7.1%23.1%11.4%25.1%-1.8%-0.5%212.1M-4.88B-21.4M0.192.07125,30023,4304,360,1391,665,119
2025-05-30$29.98$28.0024.3%7.0%23.3%9.1%25.4%-1.8%0.8%183.7M-4.41B-21.4M0.352.02141,05550,0464,404,4891,676,439