SLV Options History — October 2025

In October 2025, SLV traded between $42.44 and $48.73. ATM implied volatility averaged 38.8%, placing in the 67.8% IV rank vs the trailing year. The 30-day expected move averaged 11.0%. IV traded above realized volatility by 4.7% (HV 20d: 34.1%). Max pain ranged from $34.00 to $45.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 1 of 23 days. Put/call ratio averaged 0.44.

Notable Days

2025-10-09: Highest Volume — 1,856,451 contracts
2025-10-09: Largest IV spike — 18.9% change
2025-10-09: Highest IV Rank — 100.0%
2025-10-16: Largest Expected Move — 14.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.74	$42.44	$48.73	$43.02	$44.14
Max Pain	$41.48	$34.00	$45.00	$34.00	$45.00
ATM IV	38.8%	30.7%	51.9%	30.9%	32.8%
Expected Move	11.0%	8.7%	14.6%	9.0%	9.6%
HV 20d	34.1%	22.1%	47.0%	22.1%	46.3%
HV 60d	26.5%	21.6%	32.0%	22.3%	32.0%
IV Rank	67.8%	36.5%	100.0%	51.7%	36.5%
IV Percentile	93.3%	83.7%	100.0%	83.7%	88.5%
Term Structure	-0.8%	-2.2%	0.2%	-0.1%	0.2%
VWIV	39.8%	31.5%	51.5%	31.5%	33.6%
Skew 25d	-4.5%	-6.2%	-2.9%	-3.8%	-2.9%
Skew 10d	-9.4%	-13.5%	-6.8%	-7.1%	-6.8%
Call IV 25d	42.2%	33.3%	56.1%	33.5%	35.2%
Put IV 25d	37.7%	29.7%	51.9%	29.7%	32.2%
Bid-Ask Spread %	7.25	1.89	12.49	1.89	12.24
Gamma HHI	0.07	0.05	0.10	0.09	0.09
Net GEX	204.3M	90.6M	335.3M	289.7M	239.3M
Net DEX	-9.09B	-14.04B	-2.70B	-13.48B	-5.22B
Net VEX	-33.3M	-38.7M	-25.1M	-27.4M	-37.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.44	0.23	0.90	0.33	0.90
Total Volume	910,437.13	384,884	1,856,451	968,422	436,895
Total OI	7,285,212.174	6,761,445	8,036,831	6,761,445	7,469,672

Daily Data (23 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
2025-10-01	$43.02	$34.00	30.9%	9.0%	22.1%	51.7%	31.5%	-3.8%	-0.1%	289.7M	-13.48B	-27.4M	0.33	1.89	727,901	240,521	4,628,886	2,132,559
2025-10-02	$42.53	$34.50	30.7%	9.0%	22.3%	50.7%	32.0%	-3.6%	-0.1%	244.6M	-12.65B	-28.6M	0.47	2.18	583,863	276,728	4,708,921	2,249,450
2025-10-03	$43.63	$35.00	30.7%	8.7%	23.3%	50.9%	31.6%	-3.6%	-0.1%	270.4M	-14.04B	-27.4M	0.47	2.10	726,045	342,501	4,779,654	2,373,086
2025-10-06	$44.14	$35.00	32.2%	9.1%	23.3%	59.5%	32.4%	-4.2%	-0.2%	264.1M	-13.93B	-28.1M	0.23	2.05	578,647	133,704	4,695,947	2,441,527
2025-10-07	$43.31	$35.50	32.5%	9.1%	24.6%	60.7%	33.5%	-4.7%	-0.2%	231.2M	-12.22B	-29.5M	0.28	2.89	583,779	164,297	4,620,323	2,469,401
2025-10-08	$44.61	$36.00	34.8%	9.7%	25.7%	74.2%	34.2%	-5.4%	-0.5%	335.3M	-13.58B	-28.1M	0.25	3.15	968,357	245,222	4,676,515	2,513,955
2025-10-09	$44.62	$37.50	41.4%	11.4%	25.9%	100.0%	40.4%	-4.8%	-2.2%	247.8M	-12.10B	-30.0M	0.46	8.38	1,274,549	581,902	4,551,886	2,635,186
2025-10-10	$45.16	$41.00	42.1%	11.5%	25.8%	100.0%	41.4%	-4.0%	-0.9%	284.4M	-10.90B	-29.6M	0.55	7.35	766,554	419,400	4,454,273	2,847,719
2025-10-13	$47.09	$41.00	45.6%	12.5%	28.4%	100.0%	45.1%	-6.1%	-1.6%	279.4M	-12.96B	-25.1M	0.35	6.65	974,989	339,302	4,328,973	2,788,467
2025-10-14	$46.65	$42.00	47.3%	13.0%	28.9%	100.0%	48.9%	-3.9%	-1.4%	207.9M	-10.42B	-31.9M	0.51	8.27	825,450	420,466	4,224,273	2,930,994
2025-10-15	$48.30	$44.00	48.9%	13.4%	27.3%	100.0%	47.4%	-5.0%	-1.5%	245.8M	-12.53B	-32.4M	0.50	6.76	656,207	325,471	4,467,630	3,178,517
2025-10-16	$48.73	$44.00	51.9%	14.6%	27.3%	100.0%	51.5%	-4.2%	-1.3%	215.6M	-12.41B	-35.6M	0.37	7.12	862,876	318,402	4,455,505	3,271,254
2025-10-17	$46.73	$44.50	49.0%	13.8%	32.8%	90.3%	49.4%	-4.0%	-1.3%	141.9M	-8.89B	-38.0M	0.48	7.35	994,078	477,699	4,559,150	3,477,681
2025-10-20	$47.55	$45.00	46.3%	13.2%	32.3%	81.4%	48.4%	-4.3%	-1.2%	186.0M	-9.25B	-35.6M	0.39	5.94	607,213	236,136	4,204,665	2,810,812
2025-10-21	$43.73	$45.00	43.9%	12.5%	46.0%	73.3%	45.8%	-3.9%	-1.7%	95.4M	-4.29B	-38.4M	0.56	8.83	755,247	425,204	4,234,236	2,809,029
2025-10-22	$43.94	$45.00	40.9%	11.7%	45.9%	63.7%	41.8%	-4.7%	-0.4%	103.3M	-4.57B	-38.5M	0.49	9.78	464,036	228,212	4,407,599	2,929,221
2025-10-23	$44.34	$45.00	39.3%	11.3%	45.0%	58.1%	40.5%	-5.3%	-1.2%	142.3M	-5.23B	-38.7M	0.41	9.01	408,628	167,662	4,474,748	2,868,161
2025-10-24	$44.02	$45.00	35.4%	10.2%	44.7%	45.2%	38.1%	-4.4%	-0.9%	117.1M	-4.46B	-38.4M	0.43	10.10	341,830	147,416	4,542,563	2,985,275
2025-10-27	$42.44	$45.00	33.9%	10.0%	46.5%	40.3%	37.0%	-4.3%	-0.1%	90.6M	-2.70B	-36.0M	0.55	10.66	448,596	247,061	4,404,299	2,873,099
2025-10-28	$42.72	$45.00	33.5%	9.9%	46.5%	39.1%	37.5%	-5.3%	-0.3%	113.6M	-3.35B	-36.9M	0.35	10.89	285,943	98,941	4,426,531	2,844,679
2025-10-29	$43.20	$45.00	34.3%	10.2%	46.3%	41.7%	36.9%	-6.2%	-0.3%	149.2M	-4.06B	-37.6M	0.29	12.49	325,030	95,249	4,540,129	2,870,068
2025-10-30	$44.39	$45.00	34.5%	10.1%	47.0%	42.3%	36.8%	-5.5%	-0.1%	205.0M	-5.73B	-38.1M	0.38	10.57	298,517	113,328	4,548,074	2,855,288
2025-10-31	$44.14	$45.00	32.8%	9.6%	46.3%	36.5%	33.6%	-2.9%	0.2%	239.3M	-5.22B	-37.1M	0.90	12.24	229,552	207,343	4,572,673	2,896,999