Devil's Money

Analyzing the silver options market (SLV ETF) & Max Pain dynamics

Last Refreshed: 2026-08-23 14:52:18 EST

SLV Current Spot

$62.72

Daily Change

+1.06 (+1.72%)

TradeStation Portfolio

Cash: $10,000.00
Shares: 100

TradeStation Account P&L

Cumulative: $-990,000.00 (-99.0000%)
Intraday: +$0.00 (Realized: $0.00 | Unreal: $0.00)

📊 Secondary Multi-Signal Overlay

Gamma Squeeze Risk

25.0% (LOW)

PC Vol: 0.31 | OI: 0.39

IV Rank (IVR)

16.9% (LOW VOL)

RV(30d): 38.6%

Put/Call Skew

BALANCED

Skew Spread: +1.6%

Gold/Silver Ratio

67.5

Neutral Range

DXY Trend

BEARISH

(Tailwind for SLV)

10-Yr Yield (TNX)

BULLISH

(Headwind for SLV)

🧙‍♂️ Underlying Technical State (Triple-Filter Tracker)

SMA (200) Structure

$64.55 (BEARISH)

EMA (9) Momentum

$59.64 (ABOVE)

TD Sequential Count

Buy 0 | Sell 3

Bullish Reversal Trigger

INACTIVE

Bearish Reversal Trigger

ACTIVE (Bearish Headwind)

⚡ Under-10% Empirical Failure Writing Recommendations

Empirical Probability-Adjusted Delta Model: Instead of relying on a purely random-walk-based Black-Scholes Delta (|\Delta|), our algorithm incorporates historical probability shifts (lifts) calculated over 10 years of SLV performance when the Triple-Filter triggers are active. Options are selected strictly where the Adjusted Chance of Failing is < 10\%, letting us harvest larger premiums safely during high-conviction momentum setups. Read the detailed model mechanics in the Devil's Doc.

Expiry: 2026-08-24 (0.5 DTE)

Adjusted via 5-day horizon lifts: Bull (+-0.9%), Bear (+-19.1%)

Sell Covered Call

Strike $64.5 Adjusted Risk: 4.5%

Symbol: SLV260824C00064500 Delta: 0.04

Premium: $0.15 - $0.20 CC Capacity: 1 Contract

Sell Cash-Secured Put

Strike $61.0 Adjusted Risk: 3.7%

Symbol: SLV260824P00061000 Delta: -0.02

Premium: $0.09 - $0.14 CSP Capacity: 1 Contract

Expiry: 2026-08-26 (2 DTE)

Adjusted via 5-day horizon lifts: Bull (+-0.9%), Bear (+-19.1%)

Sell Covered Call

Strike $67.0 Adjusted Risk: 4.7%

Symbol: SLV260826C00067000 Delta: 0.04

Premium: $0.13 - $0.21 CC Capacity: 1 Contract

Sell Cash-Secured Put

Strike $59.0 Adjusted Risk: 4.7%

Symbol: SLV260826P00059000 Delta: -0.03

Premium: $0.09 - $0.14 CSP Capacity: 1 Contract

Expiry: 2026-08-28 (4 DTE)

Adjusted via 5-day horizon lifts: Bull (+-0.9%), Bear (+-19.1%)

Sell Covered Call

Strike $70.0 Adjusted Risk: 5.2%

Symbol: SLV260828C00070000 Delta: 0.04

Premium: $0.17 - $0.18 CC Capacity: 1 Contract

Sell Cash-Secured Put

Strike $57.5 Adjusted Risk: 5.1%

Symbol: SLV260828P00057500 Delta: -0.04

Premium: $0.11 - $0.13 CSP Capacity: 1 Contract

💼 Position Tracker & Live Ledger

Active Options Written

No active positions currently loaded.

Closed Positions History

ID	Type	Option Symbol	Expiry	Strike	Qty	Entry Price	Close Price	Realized P&L
954039699	PUT	SLV260529P65.5	2026-05-29	$65.5	1	$0.34	$0.00	+$34.00
954039702	CALL	SLV260529C70	2026-05-29	$70.0	1	$0.29	$0.00	+$0.00
954496142	PUT	SLV260601P66	2026-06-01	$66.0	1	$0.17	$0.00	+$17.00
955024772	PUT	SLV260603P67	2026-06-03	$67.0	1	$0.25	$0.00	+$25.00
954784782	PUT	SLV260603P65.5	2026-06-03	$65.5	1	$0.24	$0.00	+$24.00
955235696	PUT	SLV260605P64	2026-06-05	$64.0	1	$0.25	$0.00	+$25.00
955219536	CALL	SLV260605C68.5	2026-06-05	$68.5	1	$0.27	$0.00	+$27.00
962107974	PUT	SLV260717P49.5	2026-07-17	$49.5	1	$0.17	$0.00	+$17.00
961857549	PUT	SLV260717P51	2026-07-17	$51.0	1	$0.20	$0.00	+$20.00
962308310	PUT	SLV260720P48.5	2026-07-20	$48.5	1	$0.13	$0.00	+$13.00
962789426	PUT	SLV260722P52	2026-07-22	$52.0	1	$0.18	$0.00	+$18.00
962573373	PUT	SLV260722P49.5	2026-07-22	$49.5	1	$0.20	$0.00	+$20.00
963621105	PUT	SLV260727P51	2026-07-27	$51.0	1	$0.08	$0.00	+$8.00
963337087	PUT	SLV260724P51	2026-07-24	$51.0	1	$0.19	$0.00	+$19.00
963002036	PUT	SLV260724P53	2026-07-24	$53.0	1	$0.27	$0.00	+$27.00
961857555	CALL	SLV260731C75	2026-07-31	$75.0	1	$0.05	$0.00	+$5.00

Options Analysis & Max Pain

Max Pain Strike

$60.00

Put/Call OI Ratio

0.39

Put/Call Vol Ratio

0.31

ὒ5 Top Calls (By Open Interest)

Strike	Last Price	Volume	Open Interest	Implied Vol
$64.00	$0.25	5,389	3,741	39.6%
$62.00	$0.94	2,229	3,159	32.1%
$61.50	$1.32	1,283	1,912	35.2%
$61.00	$1.84	851	1,710	34.4%
$63.00	$0.52	5,503	1,704	35.5%

ὧ8 Top Puts (By Open Interest)

Strike	Last Price	Volume	Open Interest	Implied Vol
$60.00	$0.05	909	1,431	41.0%
$53.50	$0.01	182	1,081	81.3%
$61.00	$0.13	972	983	37.3%
$59.50	$0.04	277	890	43.0%
$59.00	$0.02	217	577	50.8%

Max Pain Strike

$61.50

Put/Call OI Ratio

0.41

Put/Call Vol Ratio

0.37

ὒ5 Top Calls (By Open Interest)

Strike	Last Price	Volume	Open Interest	Implied Vol
$62.00	$1.51	352	4,058	42.4%
$61.50	$1.83	205	1,695	42.2%
$64.00	$0.68	1,020	1,634	45.5%
$63.00	$0.99	1,423	880	43.2%
$65.00	$0.42	488	695	47.0%

ὧ8 Top Puts (By Open Interest)

Strike	Last Price	Volume	Open Interest	Implied Vol
$62.00	$0.81	365	2,714	45.9%
$60.00	$0.22	886	595	43.2%
$61.00	$0.43	305	463	44.1%
$59.00	$0.14	216	303	45.8%
$58.00	$0.05	183	207	46.9%

Max Pain Strike

$58.00

Put/Call OI Ratio

0.58

Put/Call Vol Ratio

0.17

ὒ5 Top Calls (By Open Interest)

Strike	Last Price	Volume	Open Interest	Implied Vol
$70.00	$0.18	2,053	11,161	60.0%
$66.00	$0.52	1,612	9,109	50.2%
$60.00	$3.10	1,735	8,730	46.3%
$63.00	$1.33	7,806	7,870	45.6%
$65.00	$0.70	23,361	7,149	48.9%

ὧ8 Top Puts (By Open Interest)

Strike	Last Price	Volume	Open Interest	Implied Vol
$45.00	$0.01	6	6,852	104.7%
$43.00	$0.02	1	5,032	117.2%
$48.00	$0.01	24	4,889	81.3%
$57.50	$0.11	1,517	2,561	47.9%
$55.00	$0.03	615	2,461	52.7%