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Options/SIVR
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SIVRabrdn Physical Silver Shares ETF

Options Analysis Report•COMMODITY CONTRACTS BROKERS & DEALERS
AUM $4.9B|ARCX
● 2026-08-31$63.13
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +61.9%YTD -8.5%7D -3.4%
359
30D
±12.1%
14%

SIVR Options Overview

Mixed signals. No clear edge detected.

REWARDS

RISK ANALYSIS

4.9VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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SIVR Gamma Walls

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Value

Is IV priced right?

5.8
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 69.5% — elevated vs history

<1.05x

IV/HV 1.17x — IV premium over HV

Sector Relative≤50%

Sector percentile 83% — above sector median

<1.1x

Front/Back 0.94x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 44.3% — normal range

<80%

Effective IV 79.8% (ATM 44.3% + spread 17.8% + bias) — fair

<3.0%

Total drag 25.40% (spread 17.76% + slippage 7.64%) — high friction

≥5.0

Vega efficiency 19.33 (vega 34.329 / spread 17.76%) — efficient

Sentiment

Bullish or bearish?

5.3
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -32%, Raw: -34%)
|net sentiment| ≥25%

Conviction-weighted: -32% (strong bearish) — Raw: -34%

≥15%

|OI skew| 51.0% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +30.9%, OI skew +51.0% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -57%, ATM: +0%, OTM: -44% — strong bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 20% — very bullish vs sector

Activity

Unusual activity?

3.1
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.5x avg — normal

≥15%

Vol/OI 1.0% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +6.5% (5d) — building

Sector Relative≥60%

Sector activity percentile 30% — below sector avg

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 32% — patient

≥30

Conviction -32 (bearish) — moderate

Liquidity

Can I trade efficiently?

2.8
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks2/8 checks passed
≤5.0%

Spread 17.8% — wide

≥10,000

OI 37,475 — adequate

≥500

Volume 359/day — thin

≤$0.50

$0.89 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 87% — much wider than sector

≥100 contracts

Depth 401.4 contracts (bid:209.7 ask:191.7) — adequate

<1.0%

Avg slippage 7.64% — poor

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -6.0% — contango

<30 or >70

IV percentile 70% — neutral

≥10pts kink

IV kink -2.6pts — no clear event

<0.5 or >2.0

θ/ν ratio 3037.99 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -32% @ 66% consistency — moderate (bearish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.4
bullishIV fair, mixed flow
Long Puts5.2
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV fair, mixed flow
Covered Call4.6
bearishIV fair, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on SIVR

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