GOVT Options History — April 2018

In April 2018, GOVT traded between $24.37 and $24.69. ATM implied volatility averaged 90.1%, placing in the 60.6% IV rank vs the trailing year. The 30-day expected move averaged 25.8%. IV traded above realized volatility by 87.2% (HV 20d: 2.9%). Max pain ranged from $24.00 to $24.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 12.50.

Notable Days

2018-04-06: Highest Volume — 27 contracts
2018-04-11: Largest IV spike — 270.1% change
2018-04-05: Highest IV Rank — 85.5%
2018-04-04: Largest Expected Move — 34.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.55	$24.37	$24.69	$24.69	$24.47
Max Pain	$24.00	$24.00	$24.00	$24.00	$24.00
ATM IV	90.1%	13.2%	125.9%	114.7%	117.6%
Expected Move	25.8%	11.8%	34.9%	32.9%	33.7%
HV 20d	2.9%	2.6%	3.3%	2.6%	2.8%
HV 60d	3.2%	3.1%	3.3%	3.2%	3.1%
IV Rank	60.6%	6.9%	85.5%	77.7%	79.7%
IV Percentile	85.3%	4.2%	99.5%	99.5%	98.0%
Term Structure	-27.2%	-59.1%	26.2%	-44.4%	-42.0%
VWIV	80.7%	7.4%	123.4%	80.7%	123.4%
Skew 25d	2.3%	-51.1%	27.5%	27.5%	0.6%
Skew 10d	2.3%	-51.1%	27.5%	27.5%	0.6%
Call IV 25d	102.2%	9.7%	137.5%	126.9%	137.5%
Put IV 25d	104.5%	9.7%	163.0%	154.4%	138.0%
Bid-Ask Spread %	187.29	144.79	196.74	195.37	190.25
Gamma HHI	0.87	0.51	1.00	1.00	1.00
Net GEX	-971	-2.4K	-191	-1.0K	-915
Net DEX	24.3K	18.7K	26.1K	24.7K	25.9K
Net VEX	-88	-100	-72	-100	-72
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	12.50	12.50	12.50	12.50	12.50
Total Volume	26.048	25	27	25	25
Total OI	25.952	25	27	25	25

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2018-04-02	$24.69	$0.00	114.7%	32.9%	2.6%	77.7%	0.0%	27.5%	-44.4%	-1.0K	24.7K	-100	0.00	195.37	0	25	0	25
2018-04-03	$24.64	$0.00	118.2%	33.9%	2.7%	80.1%	0.0%	27.1%	-47.3%	-1.0K	24.9K	-99	0.00	193.92	0	25	0	25
2018-04-04	$24.61	$0.00	121.8%	34.9%	2.7%	82.7%	0.0%	27.3%	-50.4%	-1.0K	25.0K	-99	0.00	194.61	0	25	0	25
2018-04-05	$24.58	$24.00	125.9%	21.3%	2.8%	85.5%	80.7%	2.2%	-17.3%	-902	25.0K	-98	0.00	191.87	0	25	0	25
2018-04-06	$24.66	$24.00	69.6%	19.4%	3.0%	46.3%	16.2%	2.1%	-59.1%	-1.5K	24.0K	-96	12.50	196.74	2	25	0	25
2018-04-09	$24.66	$24.00	13.2%	11.8%	2.8%	6.9%	7.4%	0.0%	-1.7%	-2.3K	18.7K	-91	12.50	144.79	2	25	2	25
2018-04-10	$24.62	$24.00	21.6%	12.5%	2.9%	12.8%	13.4%	1.4%	-2.8%	-2.4K	19.6K	-93	12.50	151.35	2	25	2	25
2018-04-11	$24.66	$24.00	80.1%	23.0%	2.9%	53.6%	7.6%	3.5%	-20.4%	-929	22.3K	-95	12.50	191.58	2	25	2	25
2018-04-12	$24.59	$24.00	81.3%	23.3%	3.0%	54.4%	88.3%	2.5%	-21.2%	-818	22.5K	-95	12.50	196.12	2	25	2	25
2018-04-13	$24.61	$24.00	82.4%	23.6%	3.0%	55.2%	89.6%	2.8%	-21.9%	-804	22.5K	-94	12.50	192.25	2	25	2	25
2018-04-16	$24.59	$24.00	61.0%	17.5%	3.0%	40.2%	93.6%	-51.1%	26.2%	-344	24.5K	-89	12.50	196.10	2	25	2	25
2018-04-17	$24.62	$24.00	87.5%	25.1%	3.0%	58.8%	95.2%	3.0%	-25.1%	-191	23.8K	-89	12.50	194.96	2	25	2	25
2018-04-18	$24.54	$24.00	89.1%	25.5%	3.2%	59.8%	96.3%	1.8%	-26.3%	-291	25.1K	-87	12.50	191.24	2	25	2	25
2018-04-19	$24.49	$24.00	92.6%	26.6%	3.3%	62.3%	97.5%	0.9%	-25.3%	-578	25.7K	-85	12.50	185.88	2	25	2	25
2018-04-20	$24.43	$24.00	94.4%	27.1%	3.1%	63.5%	98.8%	-0.1%	-26.5%	-906	26.0K	-84	12.50	191.01	2	25	2	25
2018-04-23	$24.40	$24.00	99.9%	28.7%	3.1%	67.4%	104.3%	-0.7%	-30.1%	-907	26.0K	-80	0.00	190.66	0	25	0	25
2018-04-24	$24.40	$24.00	102.0%	29.2%	3.1%	68.8%	106.5%	-0.7%	-31.5%	-909	26.0K	-79	0.00	187.60	0	25	0	25
2018-04-25	$24.37	$24.00	104.3%	29.9%	2.8%	70.4%	108.4%	-1.4%	-33.1%	-907	26.1K	-78	0.00	186.05	0	25	0	25
2018-04-26	$24.41	$24.00	106.5%	30.5%	2.9%	72.0%	111.2%	-0.6%	-34.5%	-911	26.0K	-77	0.00	184.97	0	25	0	25
2018-04-27	$24.46	$24.00	108.9%	31.2%	2.8%	73.6%	114.2%	0.4%	-36.0%	-905	25.9K	-76	0.00	185.73	0	25	0	25
2018-04-30	$24.47	$24.00	117.6%	33.7%	2.8%	79.7%	123.4%	0.6%	-42.0%	-915	25.9K	-72	0.00	190.25	0	25	0	25