iShares Silver Trust

SLV

16.81

+0.14

+0.8%

After Hours:

16.81

0.00

0.0%

Stock Price
Open: 16.71
Prev. Close: 16.67
Low/Hi: 16.69 - 16.84
52-Week: 14.09 - 19.71
Volumes
Equity: 5,567,946
90-Day Avg: 8,129,871
Option: 43,261
90-Day Avg: 61,356
Volatility
Today: 10.0
20-Day: 18.8
52-Week: 23.2
30-Day IV: 17.5 -0.2
IV Rank: 0.01 (Subdued)
Fundamental
Div. Yield: 0.0%
Net Expense Ratio: 0.5%
Stock Type: ETF | Family: iShares | Category: Commodities Precious Metals

SLV Symbol Review Report

Report Date: 24-Mar-2017

Price Performance:

On the day, SLV has moved +0.8%, while SPY has moved -0.1%.

Over the last two weeks, SLV has moved +4.1%, and SPY has moved -1.6%.

Volume:

SLV's stock volume on the day is 5,567,946, which is 0.7x relative to the 90-day average of 8,129,871

SPY's relative volume on the day is 1.4x, trading 107,532,274 shares against an average of 78,973,395 for the last 90 days.

Volatility:

The current 1-Day OHLC Volatility for SLV is 10.0 for the day. The 20-day average is 15.2, and the 52-week average is 20.0.

The 1-Day OHLC Volatility for SPY is 9.3, while the average over the last 20 days is 6.8, and for the last 52 weeks is 8.3.

Implied Volatility:

The current 30-Day Implied Volatility (IV30) is 17.5, and has moved -1.1% from the previous day. Its IV Ranking is 0.01, which is considered Subdued.

As a comparison, the current IV30 for SPY is 10.8, down slightly -0.4% from the previous day. SPY's IV Rank is Moderate at 0.74.

Over the last 52 weeks, the IV30 Range is 17.1 - 36.1.

Over the same span, SPY's IV30 Range is 8.1 - 20.7.

Based on the IV30, a synthetic put to protect downside risk would cost 2.0%, compared to a 52-week range of 1.9% - 4.1%.

At-the-Money Straddles:

ATM Straddle Expected Range
Expiration $ Premium % Premium Low High
24-Mar-17 0.09 0.5% 16.72 16.89
31-Mar-17 0.34 2.0% 16.47 17.14
07-Apr-17 0.47 2.8% 16.34 17.28
13-Apr-17 0.55 3.3% 16.25 17.36
21-Apr-17 0.64 3.8% 16.16 17.45
28-Apr-17 0.74 4.4% 16.06 17.55
05-May-17 0.84 5.0% 15.97 17.64
19-May-17 1.01 6.0% 15.80 17.81
16-Jun-17 1.27 7.6% 15.53 18.08
30-Jun-17 1.40 8.3% 15.40 18.21
21-Jul-17 1.56 9.3% 15.24 18.37
29-Sep-17 2.08 12.4% 14.72 18.89
20-Oct-17 2.21 13.2% 14.59 19.02
29-Dec-17 2.66 15.9% 14.14 19.47
19-Jan-18 2.78 16.5% 14.03 19.58
18-Jan-19 4.36 25.9% 12.45 21.16

Volatility Skew:

The current downside put implied volatility is trading 5.9% lower than the upside call volatility, which represents a neutral tone when compared to the past year. Over the last year, the downside put has traded on average 6.6% lower than the upside call.

Option Volume:

On the day, SLV traded 43,261 contracts, with 17.7% being put options. This represents a relative volume of 0.7x compared to the last 90 days, when the average volume was 61,356 and 30.0% 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 573 2.6% 86,074 10,356 47.5% 438,648 5,290 24.3% 156,838 16,219 74.4% 681,560
Put 749 3.4% 74,617 3,915 18.0% 169,967 918 4.2% 18,329 5,582 25.6% 262,913
Total 21,801 944,473

Most Active Options:

Option Symbol Volume # Trades Last Price Low Price High Price Open Interest IV % IV Change
SLV 31Mar17 C 17 4,529 101 0.10 0.05 0.10 12,490 18.2 +0.5%
SLV 20Oct17 C 20 4,004 2 0.34 0.34 0.34 715 24.5 -1.3%
SLV 21Apr17 C 17 2,151 86 0.25 0.21 0.26 36,244 17.9 -1.7%
SLV 31Mar17 P 17 1,179 27 0.27 0.26 0.32 3,134 17.3 -2.9%
SLV 21Apr17 P 17 1,151 184 0.41 0.41 0.49 21,883 17.4 -2.1%

Biggest Open Interest Increases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
SLV 29Dec17 C 18 3,680 909 +2,771 +304.8% 0
SLV 19May17 C 18 20,532 17,790 +2,742 +15.4% 0
SLV 7Apr17 C 17 4,460 2,114 +2,346 +111.0% 0
SLV 31Mar17 P 16.5 14,635 13,955 +680 +4.9% 0
SLV 21Jul17 C 16 2,250 2,010 +240 +11.9% 71

Biggest Open Interest Decreases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
SLV 24Mar17 C 16.5 6,013 7,451 -1,438 -19.3% 0
SLV 21Apr17 P 16.5 22,181 22,390 -209 -0.9% 1,073
SLV 21Apr17 C 16.5 5,363 5,514 -151 -2.7% 475
SLV 21Apr17 C 16 8,959 9,096 -137 -1.5% 343
SLV 21Apr17 C 17 36,244 36,376 -132 -0.4% 2,151

Upcoming Dividend:

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