iShares Silver Trust

SLV

16.07

-0.03

-0.2%

After Hours:

16.07

0.00

0.0%

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Stock Price
Open: 16.12
Prev. Close: 16.10
Low/Hi: 16.05 - 16.19
52-Week: 14.44 - 19.12
Volumes
Equity: 4,971,470
90-Day Avg: 7,520,431
Option: 28,554
90-Day Avg: 63,873
Volatility
Todays Stock Vol: 8.7
20-Day (HV): 20.4
52-Week (HV): 20.2
30-Day IV: 19.7 -0.9
IV Pct Rank: 41% Moderate
Fundamental
Div. Yield: 0.0%
Net Expense Ratio: 0.5%
Stock Type: ETF
Family: iShares
Category: Commodities Precious Metals
Stock Type: ETF | Family: iShares | Category: Commodities Precious Metals

SLV Symbol Review Report

Report Date: 21-Aug-2017

Price Performance:

On the day, SLV has moved -0.2%, while SPY has moved +0.1%.

Over the last two weeks, SLV has moved +4.8%, and SPY has moved -2.0%.

Volume:

SLV's stock volume on the day is 4,971,470, which is 0.7x relative to the 90-day average of 7,520,431

SPY's relative volume on the day is 0.9x, trading 61,610,323 shares against an average of 68,173,699 for the last 90 days.

Volatility:

The current 1-Day OHLC Volatility for SLV is 8.7 for the day. The 20-day average is 17.5, and the 52-week average is 17.7.

The 1-Day OHLC Volatility for SPY is 6.0, while the average over the last 20 days is 6.6, and for the last 52 weeks is 7.2.

Implied Volatility:

The current 30-Day Implied Volatility (IV30) is 19.7, and has moved -4.4% from the previous day. Its IV Ranking is 0.41, which is considered Moderate.

As a comparison, the current IV30 for SPY is 10.4, down -11.9% from the previous day. SPY's IV Rank is Moderate at 0.66.

Over the last 52 weeks, the IV30 Range is 15.3 - 30.9.

Over the same span, SPY's IV30 Range is 6.8 - 19.6.

Based on the IV30, a synthetic put to protect downside risk would cost 2.2%, compared to a 52-week range of 1.7% - 3.5%.

At-the-Money Straddles:

ATM Straddle Expected Range
Expiration $ Premium % Premium Low High
25-Aug-17 0.30 1.9% 15.77 16.36
01-Sep-17 0.46 2.8% 15.61 16.52
08-Sep-17 0.56 3.5% 15.51 16.62
15-Sep-17 0.67 4.1% 15.40 16.73
22-Sep-17 0.77 4.8% 15.30 16.83
29-Sep-17 0.86 5.3% 15.21 16.92
20-Oct-17 1.08 6.7% 14.99 17.14
17-Nov-17 1.36 8.4% 14.71 17.42
15-Dec-17 1.57 9.8% 14.50 17.63
29-Dec-17 1.67 10.4% 14.40 17.73
19-Jan-18 1.80 11.2% 14.27 17.86
29-Mar-18 2.25 14.0% 13.82 18.31
20-Apr-18 2.34 14.6% 13.73 18.40
29-Jun-18 2.74 17.0% 13.33 18.80
18-Jan-19 3.64 22.7% 12.42 19.71

Volatility Skew:

The current downside put implied volatility is trading 8.8% lower than the upside call volatility, which represents a slightly bullish tone when compared to the past year. Over the last year, the downside put has traded on average 4.1% lower than the upside call.

Option Volume:

On the day, SLV traded 28,554 contracts, with 31.6% being put options. This represents a relative volume of 0.5x compared to the last 90 days, when the average volume was 63,873 and 27.3% puts.

Order Flow:

In the Money At the Money Out of the Money Total
Option Type Volume % Volume Total
Notional
Volume % Volume Total
Notional
Volume % Volume Total
Notional
Volume % Volume Total
Notional $
Call 319 1.1% 55,375 12,005 42.0% 367,014 7,221 25.3% 74,489 19,545 68.4% 496,878
Put 548 1.9% 68,042 5,269 18.4% 195,396 3,212 11.2% 31,012 9,029 31.6% 294,450
Total 28,574 791,328

Most Active Options:

Option Symbol Volume # Trades Last Price Low Price High Price Open Interest IV % IV Change
SLV 15Sep17 C 16.5 7,482 68 0.18 0.24 0.18 31,944 20.4 -5.9%
SLV 15Sep17 P 16 2,177 52 0.30 0.33 0.26 4,993 19.2 -5.6%
SLV 25Aug17 C 16.5 1,504 57 0.03 0.07 0.03 3,683 20.5 -7.2%
SLV 25Aug17 P 15.5 1,265 9 0.02 0.02 0.01 3,009 19.9 -7.2%
SLV 15Sep17 C 17 1,216 26 0.10 0.12 0.10 14,062 22.4 -2.1%

Biggest Open Interest Increases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
SLV 20Oct17 P 14 7,410 4,395 +3,015 +68.6% 29
SLV 25Aug17 P 16 4,290 2,807 +1,483 +52.8% 892
SLV 15Sep17 P 14.5 5,560 4,301 +1,259 +29.3% 0
SLV 8Sep17 P 15.5 4,402 3,535 +867 +24.5% 27
SLV 25Aug17 C 16.5 3,683 3,065 +618 +20.2% 1,504

Biggest Open Interest Decreases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
SLV 18Aug17 C 16 0 48,049 -48,049 -100.0% 0
SLV 18Aug17 P 15.5 0 19,448 -19,448 -100.0% 0
SLV 18Aug17 C 15.5 0 18,940 -18,940 -100.0% 0
SLV 18Aug17 P 16 0 15,750 -15,750 -100.0% 0
SLV 18Aug17 C 16.5 0 15,296 -15,296 -100.0% 0

Upcoming Dividend:

The next dividend for SLV has not yet been announced. Its indicative dividend yield going forward is 0.00%.