GOVT Options History — April 2022

In April 2022, GOVT traded between $24.10 and $24.85. ATM implied volatility averaged 12.4%, placing in the 30.2% IV rank vs the trailing year. The 30-day expected move averaged 3.2%. IV traded above realized volatility by 5.8% (HV 20d: 6.6%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 2.40.

Notable Days

2022-04-20: Highest Volume — 350 contracts
2022-04-12: Largest IV spike — 201.2% change
2022-04-12: Highest IV Rank — 97.2%
2022-04-18: Largest Expected Move — 5.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.37	$24.10	$24.85	$24.85	$24.15
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	12.4%	8.5%	30.9%	10.9%	11.1%
Expected Move	3.2%	2.6%	5.3%	2.6%	3.2%
HV 20d	6.6%	6.0%	7.1%	6.8%	6.0%
HV 60d	6.8%	6.6%	7.0%	6.6%	7.0%
IV Rank	30.2%	16.2%	97.2%	24.9%	25.7%
IV Percentile	88.5%	69.4%	99.2%	88.5%	86.1%
Term Structure	0.8%	-2.0%	12.6%	-2.0%	0.1%
VWIV	12.2%	10.7%	21.4%	11.4%	12.2%
Skew 25d	-0.5%	-2.4%	7.1%	0.4%	-1.8%
Skew 10d	-2.9%	-9.0%	15.4%	0.8%	-1.7%
Call IV 25d	12.5%	8.3%	15.1%	10.4%	13.9%
Put IV 25d	11.9%	10.0%	18.0%	10.7%	12.1%
Bid-Ask Spread %	87.61	50.91	121.44	51.61	121.44
Gamma HHI	0.35	0.30	0.48	0.30	0.34
Net GEX	-50.1K	-73.5K	-25.5K	-25.5K	-58.6K
Net DEX	834.1K	496.7K	1.1M	524.7K	974.3K
Net VEX	-2.4K	-4.0K	-1.3K	-1.3K	-3.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.40	0.54	11.00	1.32	0.54
Total Volume	188.05	24	350	79	219
Total OI	851.45	606	1,034	687	1,034

Daily Data (20 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
2022-04-01	$24.85	$25.00	10.9%	2.6%	6.8%	24.9%	11.4%	0.4%	-2.0%	-25.5K	524.7K	-1.3K	1.32	51.61	34	45	347	340
2022-04-04	$24.80	$25.00	11.3%	2.8%	6.7%	26.2%	10.7%	-2.0%	0.3%	-28.9K	496.7K	-1.4K	1.04	90.89	45	47	358	339
2022-04-05	$24.61	$25.00	10.0%	2.9%	7.0%	21.7%	11.0%	-1.8%	-0.2%	-28.3K	537.2K	-1.3K	3.18	53.71	45	143	369	339
2022-04-06	$24.56	$25.00	10.2%	3.2%	7.0%	22.2%	11.5%	-1.6%	-1.1%	-26.1K	654.9K	-2.0K	3.20	110.83	45	144	369	439
2022-04-07	$24.52	$25.00	13.2%	3.1%	6.9%	33.2%	11.9%	-1.8%	-1.4%	-39.3K	696.0K	-1.9K	3.13	72.50	45	141	369	441
2022-04-08	$24.42	$25.00	8.5%	3.0%	6.9%	16.2%	11.2%	-1.2%	1.1%	-41.4K	718.7K	-1.8K	2.27	98.76	45	102	369	441
2022-04-11	$24.33	$25.00	10.3%	3.2%	6.5%	22.6%	11.8%	-2.4%	0.6%	-42.6K	860.2K	-1.6K	2.64	73.87	42	111	370	500
2022-04-12	$24.42	$25.00	30.9%	3.2%	6.8%	97.2%	11.5%	-0.9%	0.1%	-53.6K	799.8K	-2.0K	3.20	91.37	35	112	371	512
2022-04-13	$24.44	$25.00	10.6%	3.0%	6.8%	23.7%	11.6%	-0.5%	0.0%	-40.1K	758.0K	-2.1K	1.53	51.73	70	107	372	512
2022-04-14	$24.27	$25.00	11.1%	3.2%	7.1%	25.4%	11.7%	-1.6%	-0.2%	-47.9K	768.4K	-2.1K	1.18	84.52	67	79	411	510
2022-04-18	$24.24	$25.00	18.4%	5.3%	6.8%	52.1%	11.5%	0.1%	12.6%	-48.3K	725.6K	-2.0K	2.71	115.19	83	225	110	496
2022-04-19	$24.10	$25.00	10.2%	2.9%	6.4%	22.3%	11.3%	-1.0%	0.5%	-70.4K	1.1M	-2.7K	3.14	103.13	84	264	132	661
2022-04-20	$24.23	$25.00	11.2%	3.2%	6.7%	25.8%	11.5%	-0.9%	9.1%	-64.8K	1.1M	-2.9K	3.07	50.91	86	264	134	715
2022-04-21	$24.16	$25.00	10.8%	3.1%	6.2%	24.6%	12.6%	-2.1%	0.2%	-73.5K	1.1M	-2.8K	1.09	78.21	100	109	136	715
2022-04-22	$24.15	$25.00	11.6%	3.3%	6.2%	27.2%	13.2%	-1.9%	-0.3%	-67.0K	1.1M	-3.0K	1.21	101.30	87	105	165	719
2022-04-25	$24.26	$25.00	11.8%	3.4%	6.1%	28.0%	12.7%	-2.3%	-0.7%	-67.2K	1.1M	-2.9K	1.40	80.28	72	101	165	720
2022-04-26	$24.37	$25.00	11.9%	3.4%	6.3%	28.4%	11.5%	6.1%	-0.8%	-56.7K	808.4K	-4.0K	0.55	102.60	138	76	268	741
2022-04-27	$24.27	$25.00	12.2%	3.5%	6.4%	29.6%	21.4%	-0.0%	-1.0%	-61.7K	915.8K	-3.8K	11.00	118.60	2	22	267	744
2022-04-28	$24.23	$25.00	11.5%	3.3%	6.1%	27.2%	12.4%	7.1%	-0.4%	-59.4K	964.3K	-3.7K	0.55	100.68	142	78	269	760
2022-04-29	$24.15	$25.00	11.1%	3.2%	6.0%	25.7%	12.2%	-1.8%	0.1%	-58.6K	974.3K	-3.7K	0.54	121.44	142	77	276	758