iShares Silver Trust

SLV

15.79

+0.11

+0.7%

After Hours:

15.81

+0.02

+0.1%

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Stock Price
Open: 15.83
Prev. Close: 15.68
Low/Hi: 15.76 - 15.85
52-Week: 14.85 - 19.71
Volumes
Equity: 5,235,135
90-Day Avg: 6,917,777
Option: 59,116
90-Day Avg: 64,621
Volatility
Today: 15.8
20-Day: 16.1
52-Week: 21.1
30-Day IV: 16.4 +0.0
IV Rank: 0.06 (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: 23-Jun-2017

Price Performance:

On the day, SLV has moved +0.7%, while SPY has moved +0.1%.

Over the last two weeks, SLV has moved -3.0%, and SPY has moved -0.1%.

Volume:

SLV's stock volume on the day is 5,235,135, which is 0.8x relative to the 90-day average of 6,917,777

SPY's relative volume on the day is 0.9x, trading 65,574,788 shares against an average of 76,113,892 for the last 90 days.

Volatility:

The current 1-Day OHLC Volatility for SLV is 15.8 for the day. The 20-day average is 14.3, and the 52-week average is 18.3.

The 1-Day OHLC Volatility for SPY is 3.7, while the average over the last 20 days is 5.9, and for the last 52 weeks is 7.5.

Implied Volatility:

The current 30-Day Implied Volatility (IV30) is 16.4, and has moved -0.1% from the previous day. Its IV Ranking is 0.06, which is considered Subdued.

As a comparison, the current IV30 for SPY is 7.8, down -6.0% from the previous day. SPY's IV Rank is Moderate at 0.42.

Over the last 52 weeks, the IV30 Range is 16.1 - 36.1.

Over the same span, SPY's IV30 Range is 6.9 - 20.7.

Based on the IV30, a synthetic put to protect downside risk would cost 1.8%, compared to a 52-week range of 1.8% - 4.1%.

At-the-Money Straddles:

ATM Straddle Expected Range
Expiration $ Premium % Premium Low High
23-Jun-17 0.02 0.1% 15.78 15.81
30-Jun-17 0.29 1.8% 15.51 16.08
07-Jul-17 0.40 2.6% 15.39 16.20
14-Jul-17 0.49 3.1% 15.31 16.28
21-Jul-17 0.56 3.6% 15.23 16.36
28-Jul-17 0.64 4.1% 15.15 16.44
04-Aug-17 0.70 4.5% 15.09 16.50
18-Aug-17 0.82 5.2% 14.97 16.62
15-Sep-17 1.06 6.7% 14.74 16.85
29-Sep-17 1.19 7.5% 14.61 16.98
20-Oct-17 1.34 8.5% 14.45 17.14
29-Dec-17 1.83 11.6% 13.96 17.63
19-Jan-18 1.93 12.2% 13.86 17.73
29-Mar-18 2.34 14.8% 13.46 18.13
20-Apr-18 2.43 15.4% 13.37 18.22
18-Jan-19 3.64 23.0% 12.16 19.43

Volatility Skew:

The current downside put implied volatility is trading 4.7% 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 5.2% lower than the upside call.

Option Volume:

On the day, SLV traded 59,116 contracts, with 13.4% being put options. This represents a relative volume of 0.9x compared to the last 90 days, when the average volume was 64,621 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 23,944 40.5% 2,012,327 18,153 30.7% 595,400 9,128 15.4% 63,648 51,225 86.6% 2,671,375
Put 759 1.3% 89,886 4,981 8.4% 261,007 2,162 3.7% 13,211 7,902 13.4% 364,104
Total 59,127 3,035,479

Most Active Options:

Option Symbol Volume # Trades Last Price Low Price High Price Open Interest IV % IV Change
SLV 23Jun17 C 15 18,540 1,830 0.78 0.75 0.83 19,525 0.0 -99.4%
SLV 21Jul17 C 16 3,481 145 0.21 0.19 0.23 11,353 16.7 -1.0%
SLV 7Jul17 C 16 3,472 49 0.13 0.11 0.14 7,620 17.4 +0.9%
SLV 30Jun17 C 16 3,363 118 0.06 0.06 0.09 11,517 16.2 -4.5%
SLV 15Sep17 C 16.5 2,143 14 0.29 0.29 0.32 9,702 18.5 -0.3%

Biggest Open Interest Increases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
SLV 30Jun17 C 16 11,517 8,639 +2,878 +33.3% 3,363
SLV 14Jul17 C 16 3,922 1,166 +2,756 +236.4% 85
SLV 18Aug17 C 17.5 2,308 1,123 +1,185 +105.5% 113
SLV 7Jul17 C 16 7,620 6,692 +928 +13.9% 3,472
SLV 19Jan18 C 20 82,346 81,454 +892 +1.1% 127

Biggest Open Interest Decreases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
SLV 23Jun17 C 15 19,525 22,277 -2,752 -12.4% 18,540
SLV 30Jun17 P 16 14,722 15,543 -821 -5.3% 365
SLV 23Jun17 C 15.5 3,098 3,837 -739 -19.3% 1,473
SLV 23Jun17 P 16 2,688 3,279 -591 -18.0% 161
SLV 21Jul17 C 17 14,945 15,284 -339 -2.2% 1,297

Upcoming Dividend:

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