GOVT Options History — May 2022

In May 2022, GOVT traded between $23.83 and $24.31. ATM implied volatility averaged 10.6%, placing in the 23.8% IV rank vs the trailing year. The 30-day expected move averaged 3.0%. IV traded above realized volatility by 3.7% (HV 20d: 6.9%). Max pain ranged from $25.00 to $26.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 2.05.

Notable Days

2022-05-17: Highest Volume — 874 contracts
2022-05-06: Largest IV spike — 19.4% change
2022-05-06: Highest IV Rank — 32.0%
2022-05-02: Largest Expected Move — 3.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.10	$23.83	$24.31	$23.98	$24.16
Max Pain	$25.86	$25.00	$26.00	$25.00	$26.00
ATM IV	10.6%	8.9%	12.9%	11.7%	9.9%
Expected Move	3.0%	2.5%	3.4%	3.4%	2.8%
HV 20d	6.9%	6.2%	7.4%	6.2%	7.0%
HV 60d	7.1%	6.8%	7.4%	7.1%	6.8%
IV Rank	23.8%	17.6%	32.0%	27.8%	21.1%
IV Percentile	79.9%	61.5%	93.3%	90.5%	70.6%
Term Structure	0.0%	-4.1%	4.6%	-4.1%	-0.1%
VWIV	14.8%	9.8%	20.8%	12.1%	20.8%
Skew 25d	-1.1%	-6.1%	8.3%	3.0%	8.3%
Skew 10d	-1.0%	-11.8%	16.8%	4.8%	16.8%
Call IV 25d	12.9%	7.8%	14.9%	10.6%	9.5%
Put IV 25d	11.8%	8.4%	17.7%	13.6%	17.7%
Bid-Ask Spread %	115.02	68.50	158.79	114.51	109.56
Gamma HHI	0.34	0.28	0.45	0.38	0.35
Net GEX	-97.2K	-180.4K	-47.0K	-56.2K	-180.4K
Net DEX	1.1M	692.0K	1.7M	1.0M	1.7M
Net VEX	-5.1K	-7.6K	-3.4K	-3.4K	-7.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.05	0.51	4.81	0.58	4.32
Total Volume	456.667	224	874	224	772
Total OI	1,396.905	978	2,035	1,035	2,035

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
2022-05-02	$23.98	$25.00	11.7%	3.4%	6.2%	27.8%	12.1%	3.0%	-4.1%	-56.2K	1.0M	-3.4K	0.58	114.51	142	82	276	759
2022-05-03	$24.02	$25.00	10.1%	2.9%	6.4%	21.8%	14.0%	4.2%	1.1%	-60.0K	1.0M	-3.5K	0.58	112.61	145	84	276	749
2022-05-04	$24.10	$25.00	11.0%	3.1%	6.2%	25.1%	16.0%	-0.4%	4.0%	-56.3K	852.2K	-3.7K	0.73	158.79	146	107	282	760
2022-05-05	$23.93	$26.00	10.8%	3.0%	6.5%	24.5%	15.0%	-0.6%	-0.1%	-61.0K	1.1M	-3.6K	0.83	99.10	152	126	286	791
2022-05-06	$23.83	$26.00	12.9%	3.2%	6.6%	32.0%	15.0%	-2.8%	-0.6%	-54.8K	1.1M	-3.6K	0.77	106.64	152	117	299	804
2022-05-09	$23.95	$26.00	11.2%	3.1%	6.9%	25.9%	16.9%	-1.5%	-0.2%	-50.4K	837.5K	-3.4K	0.67	109.37	151	101	299	679
2022-05-10	$24.00	$26.00	11.8%	3.1%	6.9%	27.9%	13.0%	-4.0%	0.0%	-47.0K	795.2K	-3.6K	0.77	107.45	151	116	307	685
2022-05-11	$24.09	$26.00	10.2%	2.9%	6.9%	22.2%	16.9%	-0.0%	0.2%	-54.4K	809.9K	-3.6K	0.72	111.34	151	109	309	702
2022-05-12	$24.17	$26.00	10.5%	3.0%	7.0%	23.5%	20.6%	-3.5%	4.6%	-51.3K	692.0K	-3.8K	1.62	112.35	154	249	309	705
2022-05-13	$24.05	$26.00	10.5%	3.0%	6.8%	23.4%	15.4%	-3.9%	0.0%	-85.5K	1.0M	-4.4K	4.81	116.33	150	721	317	855
2022-05-16	$24.09	$26.00	10.9%	3.1%	6.9%	24.8%	17.5%	-6.1%	-1.3%	-81.2K	1.1M	-6.7K	4.74	114.31	152	721	318	1,355
2022-05-17	$23.94	$26.00	10.7%	3.1%	6.9%	24.2%	14.5%	-3.4%	-0.1%	-145.9K	1.4M	-6.3K	4.75	124.52	152	722	318	1,355
2022-05-18	$24.07	$26.00	10.9%	3.1%	6.9%	24.7%	16.6%	-3.2%	-0.1%	-137.0K	1.3M	-6.3K	4.74	112.67	152	720	318	1,344
2022-05-19	$24.13	$26.00	9.3%	2.7%	6.9%	19.0%	15.3%	-4.1%	-3.9%	-101.7K	863.6K	-6.0K	0.51	121.11	150	76	318	1,345
2022-05-20	$24.23	$26.00	10.3%	3.0%	7.1%	22.6%	13.8%	-3.6%	0.1%	-120.0K	1.1M	-6.0K	0.63	100.71	152	95	319	1,345
2022-05-23	$24.11	$26.00	10.3%	3.0%	7.1%	22.7%	12.2%	-3.5%	-0.0%	-126.0K	1.3M	-6.1K	1.40	104.07	152	213	271	1,289
2022-05-24	$24.28	$26.00	10.2%	2.9%	7.4%	22.4%	12.1%	-1.7%	-0.2%	-138.3K	1.4M	-6.8K	1.51	68.50	153	231	282	1,452
2022-05-25	$24.31	$26.00	10.2%	2.9%	7.2%	22.1%	12.2%	-3.5%	1.1%	-148.1K	1.4M	-6.7K	1.67	123.34	148	247	284	1,466
2022-05-26	$24.30	$26.00	10.6%	3.0%	7.2%	23.8%	11.6%	4.5%	-1.4%	-141.0K	1.4M	-6.6K	2.37	145.95	148	351	286	1,450
2022-05-27	$24.31	$26.00	8.9%	2.5%	7.1%	17.6%	9.8%	3.2%	1.0%	-144.4K	1.4M	-6.5K	4.40	142.11	144	633	286	1,450
2022-05-31	$24.16	$26.00	9.9%	2.8%	7.0%	21.1%	20.8%	8.3%	-0.1%	-180.4K	1.7M	-7.6K	4.32	109.56	145	627	287	1,748