EWP Options History — May 2023

In May 2023, EWP traded between $27.05 and $28.59. ATM implied volatility averaged 22.3%, placing in the 7.4% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 6.9% (HV 20d: 15.4%). Max pain ranged from $28.00 to $29.00. Net GEX was positive for 2 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 1.07.

Notable Days

  • 2023-05-26: Highest Volume — 201 contracts
  • 2023-05-31: Largest IV spike — 48.8% change
  • 2023-05-31: Highest IV Rank — 30.9%
  • 2023-05-05: Largest Expected Move — 10.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.93$27.05$28.59$28.59$27.05
Max Pain$28.14$28.00$29.00$29.00$28.00
ATM IV22.3%18.6%34.4%18.6%34.4%
Expected Move6.7%5.3%10.4%5.3%9.9%
HV 20d15.4%10.9%18.1%16.8%10.9%
HV 60d20.4%19.9%20.9%20.7%20.0%
IV Rank7.4%0.2%30.9%0.3%30.9%
IV Percentile24.4%0.8%90.9%1.2%90.9%
Term Structure7.7%-19.7%31.8%2.4%-19.7%
VWIV21.2%11.0%34.8%12.7%25.4%
Skew 25d5.9%-15.6%13.7%7.7%13.7%
Skew 10d9.3%-5.1%24.6%8.1%-2.2%
Call IV 25d17.6%10.5%26.1%15.2%14.4%
Put IV 25d23.6%10.5%30.7%22.9%28.1%
Bid-Ask Spread %88.6736.18122.8236.18122.82
Gamma HHI0.240.190.370.190.23
Net GEX-28.9K-57.9K11.4K-22.2K-47.2K
Net DEX297.8K-76.0K547.8K138.9K509.1K
Net VEX-5.3K-6.8K-3.8K-6.4K-3.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.070.003.000.250.00
Total Volume23.455020104
Total OI2,122.51,6612,3432,2301,755

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$28.59$29.0018.6%5.3%16.8%0.3%0.0%7.7%2.4%-22.2K138.9K-6.4K0.0036.18N/AN/A007091,521
2023-05-02$28.09$29.0020.5%5.9%18.1%3.8%12.7%6.0%3.1%-35.4K391.0K-6.3K0.0060.28N/AN/A0117091,521
2023-05-03$28.05$29.0023.4%6.7%18.0%9.5%22.7%4.4%0.0%-35.5K364.3K-6.2K0.2551.62N/AN/A1647091,522
2023-05-04$28.02$28.0023.1%6.9%17.7%9.0%0.0%7.8%28.6%-38.8K547.8K-5.9K0.00106.30N/AN/A8507241,526
2023-05-05$28.37$28.0022.4%10.4%17.7%7.6%0.0%-15.6%25.6%11.4K-76.0K-6.8K0.00113.64N/AN/A078091,526
2023-05-08$28.38$28.0018.6%6.7%17.7%0.2%0.0%10.0%2.6%374248.2K-6.1K0.0091.55N/AN/A008091,533
2023-05-09$28.27$28.0022.8%6.9%17.3%8.3%0.0%7.4%1.8%-23.9K235.6K-4.4K1.0088.38N/AN/A118091,533
2023-05-10$28.24$28.0022.7%6.5%16.8%8.3%0.0%7.9%1.7%-14.5K330.6K-5.9K0.0070.32N/AN/A018091,533
2023-05-11$28.09$28.0022.6%6.5%16.2%8.0%0.0%7.2%26.3%-20.9K262.1K-5.7K0.0095.11N/AN/A008091,534
2023-05-12$28.09$28.0021.2%6.1%16.2%5.2%0.0%4.6%28.0%-18.7K359.7K-5.9K0.0091.15N/AN/A0138091,534
2023-05-15$28.09$28.0028.1%8.1%16.1%18.7%0.0%-4.4%25.8%-26.1K116.0K-5.8K0.00107.59N/AN/A0108091,526
2023-05-16$27.88$28.0020.4%5.8%15.8%3.7%0.0%5.7%31.8%-20.7K382.1K-6.0K0.0090.11N/AN/A0308091,526
2023-05-17$27.99$28.0020.5%5.9%15.4%3.9%20.6%4.6%-1.8%-57.9K333.0K-3.8K0.0093.40N/AN/A018091,511
2023-05-18$27.77$28.0019.5%5.6%15.5%1.9%0.0%5.0%7.5%-44.9K440.2K-4.1K2.7596.28N/AN/A4118091,512
2023-05-19$27.91$28.0019.4%5.6%15.6%1.8%21.0%7.4%11.9%-51.2K174.4K-5.5K0.5087.52N/AN/A1058061,511
2023-05-22$28.09$28.0020.0%5.7%15.6%2.9%11.0%11.7%-0.1%-16.6K178.4K-4.2K3.0089.15N/AN/A10306251,036
2023-05-23$27.73$28.0022.1%6.3%13.1%7.0%25.1%9.0%-1.3%-24.8K112.4K-5.3K0.0084.16N/AN/A026341,066
2023-05-24$27.48$28.0022.6%6.5%13.3%8.0%19.5%7.8%-1.4%-42.0K407.7K-4.4K0.0056.52N/AN/A0576341,064
2023-05-25$27.29$28.0023.8%6.8%11.5%10.3%19.6%8.7%-2.5%-48.0K456.3K-4.3K0.00114.31N/AN/A016341,121
2023-05-26$27.54$28.0020.6%5.9%11.7%4.2%34.8%12.4%-1.6%-33.1K307.7K-4.4K0.0099.18N/AN/A02016341,121
2023-05-30$27.39$28.0023.1%6.6%11.7%9.0%0.0%1.7%0.3%-25.0K333.0K-4.6K0.00105.16N/AN/A106341,121
2023-05-31$27.05$28.0034.4%9.9%10.9%30.9%25.4%13.7%-19.7%-47.2K509.1K-3.9K0.00122.82N/AN/A046341,121