EWP Options History — April 2020

In April 2020, EWP traded between $19.46 and $21.20. ATM implied volatility averaged 45.7%, placing in the 44.7% IV rank vs the trailing year. The 30-day expected move averaged 13.5%. IV traded below realized volatility by 15.0% (HV 20d: 60.7%). Max pain ranged from $21.00 to $26.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 60.37.

Notable Days

  • 2020-04-01: Highest Volume — 808 contracts
  • 2020-04-09: Largest IV spike — 60.0% change
  • 2020-04-14: Highest IV Rank — 69.3%
  • 2020-04-07: Largest Expected Move — 21.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$20.30$19.46$21.20$19.46$20.77
Max Pain$21.24$21.00$26.00$26.00$21.00
ATM IV45.7%33.6%66.8%55.5%33.6%
Expected Move13.5%9.6%21.1%15.9%9.6%
HV 20d60.7%32.8%95.8%95.8%34.0%
HV 60d59.8%58.1%61.2%58.1%61.1%
IV Rank44.7%30.6%69.3%56.1%30.6%
IV Percentile90.4%82.5%97.2%94.4%82.5%
Term Structure-7.7%-52.8%3.6%-3.4%-1.5%
VWIV46.9%31.1%70.4%70.4%34.3%
Skew 25d7.8%-45.6%19.9%19.9%4.4%
Skew 10d-0.3%-102.5%56.3%56.3%-14.1%
Call IV 25d41.4%28.1%98.8%49.3%29.7%
Put IV 25d49.2%24.5%69.2%69.2%34.0%
Bid-Ask Spread %97.6882.13114.8890.82108.71
Gamma HHI0.220.150.430.150.22
Net GEX-423.1K-787.2K-123.2K-758.1K-131.5K
Net DEX6.6M1.5M15.1M15.1M1.8M
Net VEX-18.5K-32.7K-13.0K-32.7K-13.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio60.370.23807.00807.000.33
Total Volume312.47658088085
Total OI17,456.7145,40127,23827,2305,881

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$19.46$26.0055.5%15.9%95.8%56.1%70.4%19.9%-3.4%-758.1K15.1M-32.7K807.0090.82N/AN/A18074,34022,890
2020-04-02$19.66$21.0049.5%13.0%95.7%49.2%61.3%15.3%-6.2%-787.2K14.5M-30.6K7.7491.47N/AN/A614724,34122,713
2020-04-03$19.48$21.0050.2%15.1%95.7%49.9%51.5%17.7%-13.9%-771.7K13.9M-29.9K25.1995.48N/AN/A164034,39922,839
2020-04-06$20.38$21.0042.3%11.6%93.8%40.7%40.7%11.8%-5.5%-757.1K10.7M-23.4K10.0091.67N/AN/A525204,39822,503
2020-04-07$20.62$21.0041.6%21.1%94.0%40.0%48.5%17.0%-33.6%-660.7K9.6M-23.0K16.84112.45N/AN/A457584,44822,240
2020-04-08$20.61$21.0040.1%11.5%93.0%38.1%46.2%10.6%3.6%-674.4K8.8M-21.9K36.7583.67N/AN/A82944,46521,642
2020-04-09$21.19$21.0064.1%18.4%76.8%66.2%60.6%3.1%0.6%-602.0K6.6M-18.4K29.25111.63N/AN/A123514,46421,613
2020-04-13$20.96$21.0043.8%12.6%74.8%42.5%46.6%5.6%-3.4%-601.4K7.0M-16.4K62.6790.83N/AN/A31884,47221,408
2020-04-14$21.20$21.0066.8%19.1%59.2%69.3%35.8%-45.6%-52.8%-494.1K6.2M-15.8K14.33114.88N/AN/A6864,47521,319
2020-04-15$20.40$21.0043.7%12.5%56.6%42.4%53.4%10.5%-3.0%-669.6K8.2M-15.8K39.2093.83N/AN/A103924,47621,301
2020-04-16$20.05$21.0043.3%12.4%48.1%41.9%47.2%11.3%-5.0%-729.8K8.9M-15.1K67.3387.55N/AN/A32024,47621,014
2020-04-17$20.49$21.0045.4%13.0%46.6%44.4%40.3%10.5%-2.6%-123.2K6.9M-13.8K2.8485.45N/AN/A1343804,47720,794
2020-04-20$20.04$21.0044.2%12.7%47.4%42.9%49.4%15.6%-3.3%-136.6K2.4M-13.9K13.50109.69N/AN/A263516904,711
2020-04-21$19.79$21.0045.0%12.9%47.6%43.8%42.9%11.6%3.5%-143.3K3.0M-15.6K4.1782.13N/AN/A241007054,900
2020-04-22$19.97$21.0049.4%14.1%42.0%49.0%46.1%12.3%-11.3%-137.8K2.8M-15.7K0.00102.20N/AN/A02167274,901
2020-04-23$19.71$21.0039.3%11.3%36.5%37.2%45.7%7.2%2.4%-142.7K2.9M-15.0K0.6297.62N/AN/A138867274,781
2020-04-24$19.89$21.0039.1%11.2%35.6%37.0%46.0%12.3%1.5%-145.2K2.8M-14.8K0.2399.12N/AN/A173397944,833
2020-04-27$20.12$21.0036.4%10.4%32.8%33.9%51.6%12.6%1.6%-143.9K2.5M-15.0K2.0989.95N/AN/A11239584,849
2020-04-28$20.27$21.0034.8%10.0%32.9%31.9%35.5%10.8%1.2%-149.0K2.3M-14.3K7.00100.03N/AN/A3219694,847
2020-04-29$21.15$21.0052.5%15.1%36.1%52.6%31.1%-10.7%-30.7%-126.4K1.5M-13.0K0.33112.10N/AN/A107359724,839
2020-04-30$20.77$21.0033.6%9.6%34.0%30.6%34.3%4.4%-1.5%-131.5K1.8M-13.7K0.00108.71N/AN/A051,0794,802