SLV Options History — August 2025

In August 2025, SLV traded between $33.61 and $36.14. ATM implied volatility averaged 23.1%, placing in the 5.4% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 1.9% (HV 20d: 21.2%). Max pain ranged from $30.00 to $32.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.41.

Notable Days

  • 2025-08-07: Highest Volume — 653,424 contracts
  • 2025-08-14: Largest IV drop — 5.7% change
  • 2025-08-29: Highest IV Rank — 17.6%
  • 2025-08-07: Largest Expected Move — 7.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.66$33.61$36.14$33.61$36.14
Max Pain$30.81$30.00$32.00$32.00$31.50
ATM IV23.1%21.8%24.9%23.7%24.9%
Expected Move6.7%6.3%7.1%6.5%7.0%
HV 20d21.2%17.6%24.7%24.2%18.6%
HV 60d23.2%21.0%24.4%24.4%21.4%
IV Rank5.4%0.0%17.6%6.1%17.6%
IV Percentile4.1%0.0%24.2%2.8%24.2%
Term Structure0.2%-0.3%1.0%-0.1%-0.1%
VWIV23.9%22.4%25.7%24.2%24.7%
Skew 25d-2.3%-3.3%-1.1%-2.2%-3.3%
Skew 10d-4.8%-6.4%-2.3%-5.7%-5.9%
Call IV 25d24.8%22.4%27.4%25.6%27.4%
Put IV 25d22.6%21.3%24.1%23.4%24.1%
Bid-Ask Spread %2.001.812.232.032.23
Gamma HHI0.090.070.120.070.12
Net GEX211.0M155.0M299.2M164.0M299.2M
Net DEX-6.68B-8.33B-4.95B-5.22B-8.33B
Net VEX-23.2M-24.1M-22.1M-23.9M-23.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.410.150.730.470.21
Total Volume275,303.095165,680653,424309,297577,228
Total OI5,813,485.2385,058,9816,488,3786,048,2325,720,793

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-08-01$33.61$32.0023.7%6.5%24.2%6.1%24.2%-2.2%-0.1%164.0M-5.22B-23.9M0.472.03210,53198,7664,308,1111,740,121
2025-08-04$33.97$30.0023.2%6.9%24.5%2.8%25.7%-2.6%0.2%184.0M-5.85B-23.4M0.422.20140,02158,7714,294,8911,728,294
2025-08-05$34.33$30.0023.9%7.0%24.7%7.2%25.5%-2.7%0.2%197.6M-6.50B-23.5M0.152.06232,84135,6594,304,5481,743,866
2025-08-06$34.36$30.0023.6%7.0%24.5%5.4%25.0%-2.4%0.2%203.3M-6.69B-23.8M0.462.06152,82269,7574,370,8201,745,570
2025-08-07$34.73$30.0024.1%7.1%23.8%8.5%25.0%-2.7%0.3%218.3M-7.26B-24.0M0.652.04396,812256,6124,389,4581,748,102
2025-08-08$34.83$30.5023.7%6.9%19.6%5.7%25.2%-2.2%0.3%222.9M-7.53B-24.1M0.432.23171,38074,0234,487,2811,835,231
2025-08-11$34.22$30.5022.6%6.6%20.2%0.0%24.1%-1.6%0.5%191.1M-6.58B-23.5M0.292.12166,42048,6924,465,6671,812,122
2025-08-12$34.39$30.5022.6%6.7%20.0%0.0%23.4%-2.1%0.6%201.6M-6.92B-23.2M0.331.96148,86749,7674,497,1681,826,878
2025-08-13$34.95$31.0023.5%6.9%20.8%5.4%24.3%-2.5%0.6%257.3M-8.01B-23.1M0.471.97164,23177,9714,572,2661,839,865
2025-08-14$34.53$31.0022.1%6.5%21.2%0.0%23.6%-1.7%0.5%199.3M-7.21B-23.0M0.711.81101,92572,8094,581,6401,867,800
2025-08-15$34.47$31.0021.8%6.4%21.2%0.0%23.9%-1.1%1.0%187.5M-7.15B-22.7M0.431.83187,61980,7594,602,9651,885,413
2025-08-18$34.53$31.0021.8%6.3%19.6%0.3%22.5%-1.6%0.3%184.8M-5.84B-22.1M0.732.03105,45477,5003,683,9731,375,008
2025-08-19$33.86$31.0022.0%6.3%20.3%1.2%22.4%-1.2%0.2%155.0M-4.95B-22.4M0.641.90143,27591,7643,708,4201,398,921
2025-08-20$34.44$31.0022.5%6.5%21.5%4.3%23.0%-1.4%0.2%190.9M-5.76B-22.7M0.281.94129,97136,9703,767,6731,457,982
2025-08-21$34.61$31.0022.7%6.5%21.6%5.4%23.1%-1.8%0.4%201.3M-6.09B-22.9M0.281.89151,84141,9903,807,6761,458,888
2025-08-22$35.36$31.0023.3%6.6%21.3%8.8%23.6%-2.5%0.3%234.7M-7.14B-23.0M0.291.85300,06887,6563,867,8271,481,679
2025-08-25$35.08$31.0023.1%6.5%21.5%7.8%23.5%-2.6%-0.3%224.3M-6.73B-22.6M0.282.13129,23536,4453,887,1341,455,527
2025-08-26$35.00$31.0023.1%6.5%21.5%7.8%22.7%-3.3%-0.1%226.3M-6.61B-22.9M0.321.92158,64950,2993,899,7021,460,533
2025-08-27$34.97$31.0023.1%6.5%17.6%7.4%23.3%-3.2%-0.1%224.8M-6.64B-23.0M0.351.83181,63962,7903,969,4451,494,709
2025-08-28$35.45$31.0023.8%6.6%17.8%11.3%23.3%-3.0%-0.1%263.2M-7.28B-23.2M0.312.07322,89698,6404,013,8601,525,363
2025-08-29$36.14$31.5024.9%7.0%18.6%17.6%24.7%-3.3%-0.1%299.2M-8.33B-23.8M0.212.23478,41098,8184,136,9631,583,830