SLV Options History — January 2026

In January 2026, SLV traded between $65.75 and $105.95. ATM implied volatility averaged 79.0%, placing in the 89.9% IV rank vs the trailing year. The 30-day expected move averaged 22.8%. IV traded above realized volatility by 7.4% (HV 20d: 71.6%). Max pain ranged from $50.00 to $70.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 1 of 20 days. Put/call ratio averaged 0.79.

Notable Days

2026-01-30: Highest Volume — 6,629,715 contracts
2026-01-26: Largest IV spike — 19.5% change
2026-01-14: Highest IV Rank — 100.0%
2026-01-29: Largest Expected Move — 32.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$82.84	$65.75	$105.95	$65.75	$74.23
Max Pain	$60.48	$50.00	$70.00	$50.00	$70.00
ATM IV	79.0%	63.8%	110.7%	64.8%	94.8%
Expected Move	22.8%	17.5%	32.6%	20.3%	30.0%
HV 20d	71.6%	60.8%	142.5%	61.2%	142.5%
HV 60d	53.8%	49.4%	90.9%	49.4%	90.9%
IV Rank	89.9%	76.2%	100.0%	82.4%	82.2%
IV Percentile	98.9%	96.4%	100.0%	98.8%	98.8%
Term Structure	-2.3%	-14.5%	0.3%	-1.6%	-5.8%
VWIV	80.7%	63.0%	114.0%	72.9%	110.2%
Skew 25d	-13.5%	-61.2%	-7.1%	-8.3%	-15.8%
Skew 10d	-19.0%	-61.2%	-8.9%	-14.0%	-26.6%
Call IV 25d	87.5%	69.0%	121.7%	72.0%	108.5%
Put IV 25d	74.1%	51.2%	106.7%	63.7%	92.6%
Bid-Ask Spread %	3.53	2.46	8.05	4.50	8.05
Gamma HHI	0.04	0.02	0.05	0.05	0.02
Net GEX	211.8M	17.2M	294.3M	196.5M	17.2M
Net DEX	-33.80B	-49.82B	-13.36B	-21.83B	-13.36B
Net VEX	-73.1M	-99.4M	-54.6M	-57.7M	-99.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.79	0.54	1.58	0.83	0.91
Total Volume	2,429,397.6	1,004,446	6,629,715	1,287,833	6,629,715
Total OI	10,523,987.95	9,320,054	12,149,499	9,539,093	12,149,499

Daily Data (20 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
2026-01-02	$65.75	$50.00	64.8%	20.3%	61.2%	82.4%	72.9%	-8.3%	-1.6%	196.5M	-21.83B	-57.7M	0.83	4.50	705,619	582,214	5,718,374	3,820,719
2026-01-05	$68.78	$52.00	63.8%	17.5%	60.8%	80.6%	63.1%	-7.8%	-1.2%	231.1M	-25.17B	-54.7M	0.62	3.26	1,011,171	630,467	5,582,726	3,737,328
2026-01-06	$73.31	$52.50	70.4%	19.4%	63.2%	93.2%	67.5%	-8.5%	-0.8%	219.9M	-29.27B	-54.6M	0.58	2.46	1,081,284	624,916	5,543,833	3,859,731
2026-01-07	$71.07	$53.50	66.1%	18.1%	65.1%	84.9%	63.9%	-7.9%	-1.3%	190.7M	-26.76B	-59.2M	0.79	3.11	823,325	651,532	5,754,423	4,122,821
2026-01-08	$69.60	$55.00	63.8%	17.5%	65.4%	80.4%	63.0%	-8.0%	-1.2%	201.2M	-25.01B	-61.1M	0.58	2.59	635,420	369,026	5,821,445	4,147,566
2026-01-09	$72.37	$55.00	65.1%	18.1%	66.0%	83.0%	63.6%	-7.1%	-0.6%	294.3M	-28.87B	-61.3M	0.54	2.86	840,525	454,916	6,000,533	4,218,443
2026-01-12	$77.06	$55.00	71.4%	19.9%	68.3%	95.1%	70.1%	-9.4%	-1.7%	267.2M	-33.26B	-60.9M	0.65	2.78	1,250,719	814,720	5,911,656	4,138,774
2026-01-13	$78.38	$59.00	73.1%	20.3%	66.6%	98.3%	72.1%	-9.1%	-2.0%	235.3M	-33.85B	-63.3M	0.60	2.77	1,601,680	958,127	5,993,394	4,282,120
2026-01-14	$84.13	$60.00	83.9%	23.3%	69.1%	100.0%	82.4%	-11.7%	-2.4%	253.9M	-39.56B	-69.6M	0.75	3.45	1,820,335	1,366,432	6,291,253	4,669,411
2026-01-15	$83.37	$60.50	80.0%	22.4%	69.5%	93.9%	79.1%	-11.0%	-2.3%	215.3M	-37.95B	-73.9M	0.81	3.24	1,053,956	856,455	6,447,786	4,901,758
2026-01-16	$80.97	$61.00	77.6%	21.8%	70.9%	90.0%	76.6%	-10.4%	-2.3%	130.1M	-35.30B	-78.8M	0.93	2.74	1,168,815	1,081,099	6,702,489	5,179,678
2026-01-20	$85.07	$62.50	76.0%	21.7%	71.0%	87.3%	76.2%	-11.2%	-0.8%	246.2M	-33.24B	-76.2M	0.69	2.55	911,297	629,727	5,795,625	3,930,995
2026-01-21	$83.67	$63.50	73.1%	21.0%	71.9%	82.7%	74.0%	-7.9%	-0.3%	187.6M	-31.07B	-78.9M	1.58	3.13	893,643	1,413,370	5,914,494	4,153,876
2026-01-22	$87.13	$65.00	69.1%	19.8%	72.4%	76.2%	71.2%	-9.3%	0.3%	251.9M	-35.28B	-76.3M	0.84	2.63	793,893	667,451	5,885,289	4,310,370
2026-01-23	$92.77	$65.00	75.9%	21.8%	74.0%	87.2%	76.1%	-10.9%	-0.9%	258.5M	-41.21B	-76.4M	0.74	2.89	1,538,474	1,132,688	6,012,242	4,514,076
2026-01-26	$97.86	$65.00	90.7%	29.4%	75.0%	100.0%	102.6%	-61.2%	-14.5%	230.7M	-43.61B	-79.6M	0.85	5.88	3,545,194	3,029,790	5,913,413	4,465,010
2026-01-27	$100.34	$66.00	101.6%	30.3%	71.1%	100.0%	106.5%	-21.3%	-3.1%	163.3M	-43.88B	-88.6M	0.89	3.84	1,124,311	997,753	6,263,544	4,843,293
2026-01-28	$105.95	$69.00	107.5%	31.6%	63.4%	100.0%	109.6%	-17.6%	-2.2%	259.0M	-49.82B	-92.8M	0.84	3.83	1,461,426	1,225,064	6,530,321	5,160,400
2026-01-29	$104.92	$70.00	110.7%	32.6%	63.7%	100.0%	114.0%	-15.1%	-2.5%	186.8M	-47.71B	-99.4M	0.83	3.99	1,210,606	1,000,797	6,561,394	5,229,657
2026-01-30	$74.23	$70.00	94.8%	30.0%	142.5%	82.2%	110.2%	-15.8%	-5.8%	17.2M	-13.36B	-99.4M	0.91	8.05	3,472,513	3,157,202	6,734,537	5,414,962