EWP Options History — March 2023

In March 2023, EWP traded between $25.81 and $27.88. ATM implied volatility averaged 25.8%, placing in the 14.1% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 3.5% (HV 20d: 22.3%). Max pain ranged from $26.00 to $27.00. Net GEX was positive for 2 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 5.60.

Notable Days

  • 2023-03-30: Highest Volume — 700 contracts
  • 2023-03-13: Largest IV spike — 26.5% change
  • 2023-03-13: Highest IV Rank — 42.2%
  • 2023-03-15: Largest Expected Move — 8.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.03$25.81$27.88$27.45$27.80
Max Pain$26.43$26.00$27.00$27.00$26.00
ATM IV25.8%19.8%40.2%24.5%20.9%
Expected Move6.9%5.6%8.1%7.0%6.0%
HV 20d22.3%14.7%28.7%16.6%28.1%
HV 60d18.0%14.9%20.6%14.9%20.1%
IV Rank14.1%2.4%42.2%11.6%4.5%
IV Percentile37.3%2.8%97.6%27.8%6.7%
Term Structure-0.6%-3.2%0.6%-2.5%0.5%
VWIV26.6%21.6%31.6%23.8%24.1%
Skew 25d6.4%3.8%9.5%8.5%5.0%
Skew 10d13.9%2.3%24.3%9.5%7.7%
Call IV 25d20.8%14.2%25.4%17.9%19.4%
Put IV 25d27.2%23.2%32.7%26.4%24.4%
Bid-Ask Spread %79.1835.50102.8072.5690.50
Gamma HHI0.240.130.390.310.19
Net GEX-55.5K-129.3K15.0K-64.7K-2.4K
Net DEX359.2K-316.0K1.2M309.9K-123.0K
Net VEX-5.4K-7.8K-3.3K-4.5K-7.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio5.600.0530.003.432.50
Total Volume135.9570700407
Total OI4,372.5223,8325,5473,8325,547

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$27.45$27.0024.5%7.0%16.6%11.6%0.0%8.5%-2.5%-64.7K309.9K-4.5K0.0072.56N/AN/A0401603,672
2023-03-02$27.34$27.0023.5%6.7%14.7%9.7%0.0%6.8%-0.7%-73.7K414.5K-5.1K3.4393.00N/AN/A14481603,707
2023-03-03$27.80$27.0019.8%5.7%15.8%2.4%23.8%9.5%0.3%-48.4K121.4K-3.5K0.0088.29N/AN/A0261733,741
2023-03-06$27.88$26.0021.2%5.8%15.1%5.2%22.1%5.3%0.5%-42.6K89.1K-3.3K6.6466.02N/AN/A11731733,738
2023-03-07$27.34$27.0024.3%6.2%16.5%11.2%0.0%4.7%0.6%-56.1K284.4K-4.0K1.4474.10N/AN/A18261843,811
2023-03-08$27.55$27.0022.1%5.6%16.6%6.8%0.0%5.5%0.6%-50.0K203.1K-3.9K0.0059.27N/AN/A002023,814
2023-03-09$27.20$27.0025.7%6.4%17.3%14.0%31.6%5.4%-0.7%-52.1K259.3K-3.9K30.0081.81N/AN/A1302023,815
2023-03-10$26.91$27.0031.8%7.2%17.7%25.8%26.3%3.8%-0.4%-63.6K386.5K-4.3K2.6492.21N/AN/A14372013,845
2023-03-13$26.59$27.0040.2%7.4%17.8%42.2%27.6%5.5%-3.2%-104.1K833.6K-6.2K4.00102.80N/AN/A11441873,844
2023-03-14$27.06$27.0030.5%7.3%18.4%23.3%24.5%6.8%-0.6%-63.7K400.0K-4.1K0.0088.47N/AN/A0261883,823
2023-03-15$25.95$27.0028.3%8.1%23.0%19.0%30.7%7.5%-1.4%-129.3K1.2M-6.8K0.0088.31N/AN/A03611883,842
2023-03-16$26.34$26.0027.0%7.7%23.9%16.5%28.5%6.6%-0.4%-102.8K859.8K-5.9K15.4290.28N/AN/A121851883,923
2023-03-17$25.81$26.0028.0%8.0%24.7%18.5%29.5%6.1%-2.2%-118.9K1.0M-6.2K4.6486.47N/AN/A763532003,798
2023-03-20$26.29$26.0026.7%7.7%25.7%15.8%21.6%7.1%-0.8%-81.3K698.1K-5.2K0.7866.59N/AN/A111872623,857
2023-03-21$27.13$26.0025.2%7.2%27.8%12.9%25.1%6.6%-1.9%-25.9K152.9K-4.2K0.9579.93N/AN/A85813723,847
2023-03-22$27.02$26.0024.5%7.0%27.4%11.5%0.0%5.7%0.1%-29.7K184.9K-4.8K0.3784.22N/AN/A4101514573,944
2023-03-23$26.71$26.0025.0%7.2%27.4%12.6%26.1%5.9%-0.7%-52.9K392.9K-7.8K0.0068.64N/AN/A0628674,154
2023-03-24$26.48$26.0027.8%8.0%27.4%18.1%0.0%5.4%-0.4%-64.6K511.9K-7.6K0.0077.87N/AN/A008674,215
2023-03-27$26.88$26.0025.7%7.4%27.5%13.9%29.5%8.0%-0.5%-33.3K236.0K-6.8K0.0535.50N/AN/A2218674,215
2023-03-28$26.94$26.0024.9%7.1%27.3%12.3%27.3%7.1%-0.1%-32.5K227.0K-6.6K0.0075.30N/AN/A038894,215
2023-03-29$27.44$26.0023.8%6.8%28.2%10.2%24.1%9.3%0.5%1.9K-122.1K-6.4K0.0082.28N/AN/A018894,218
2023-03-30$27.88$26.0021.9%6.3%28.7%6.5%0.0%5.3%0.5%15.0K-316.0K-6.2K0.0076.72N/AN/A07008894,218
2023-03-31$27.80$26.0020.9%6.0%28.1%4.5%0.0%5.0%0.5%-2.4K-123.0K-7.4K2.5090.50N/AN/A258894,658