GOVT Options History — April 2023

In April 2023, GOVT traded between $23.20 and $23.59. ATM implied volatility averaged 11.6%, placing in the 22.0% IV rank vs the trailing year. The 30-day expected move averaged 3.4%. IV traded above realized volatility by 3.6% (HV 20d: 8.1%). Max pain ranged from $23.00 to $24.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 14.09.

Notable Days

2023-04-03: Highest Volume — 441 contracts
2023-04-14: Largest IV spike — 153.7% change
2023-04-14: Highest IV Rank — 80.5%
2023-04-14: Largest Expected Move — 7.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$23.38	$23.20	$23.59	$23.39	$23.45
Max Pain	$23.89	$23.00	$24.00	$24.00	$24.00
ATM IV	11.6%	8.1%	26.2%	11.4%	11.0%
Expected Move	3.4%	2.7%	7.5%	3.3%	3.1%
HV 20d	8.1%	5.8%	10.7%	10.7%	6.7%
HV 60d	8.1%	7.9%	8.3%	8.3%	8.2%
IV Rank	22.0%	5.1%	80.5%	18.9%	21.4%
IV Percentile	38.5%	0.8%	99.6%	51.6%	40.5%
Term Structure	-1.7%	-27.2%	1.3%	-0.7%	-1.2%
VWIV	10.6%	8.3%	12.9%	8.3%	10.1%
Skew 25d	-0.4%	-5.3%	4.1%	-1.4%	4.1%
Skew 10d	0.2%	-3.9%	10.2%	-0.4%	10.2%
Call IV 25d	11.3%	7.1%	18.7%	12.4%	7.1%
Put IV 25d	11.0%	8.5%	21.4%	11.1%	11.3%
Bid-Ask Spread %	22.31	6.80	155.39	6.80	23.84
Gamma HHI	0.59	0.28	0.83	0.30	0.82
Net GEX	-65.7K	-116.9K	-18.5K	-20.1K	-104.3K
Net DEX	610.5K	97.1K	1.2M	97.1K	1.0M
Net VEX	-6.2K	-7.5K	-4.4K	-4.4K	-7.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	14.09	0.00	146.00	146.00	0.00
Total Volume	76.526	2	441	441	3
Total OI	1,951.316	1,384	2,136	1,384	2,132

Daily Data (19 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
2023-04-03	$23.39	$24.00	11.4%	3.3%	10.7%	18.9%	8.3%	-1.4%	-0.7%	-20.1K	97.1K	-4.4K	146.00	6.80	3	438	663	721
2023-04-04	$23.52	$23.00	13.7%	3.9%	10.7%	28.7%	12.9%	-5.3%	-2.3%	-35.6K	175.0K	-5.6K	0.85	10.62	52	44	663	1,071
2023-04-05	$23.59	$23.00	12.9%	3.7%	10.7%	25.4%	11.0%	-3.5%	-1.2%	-28.6K	127.3K	-5.8K	2.05	10.51	37	76	712	1,115
2023-04-06	$23.59	$24.00	12.3%	3.3%	10.7%	23.0%	11.5%	-1.1%	0.1%	-18.5K	109.6K	-5.4K	2.00	11.29	1	2	707	1,041
2023-04-10	$23.44	$24.00	8.1%	3.1%	10.0%	5.1%	10.9%	-0.8%	-0.4%	-31.4K	241.1K	-5.1K	10.17	12.09	24	244	707	1,043
2023-04-11	$23.41	$24.00	9.8%	3.0%	9.5%	12.3%	0.0%	-0.5%	0.2%	-66.1K	572.7K	-6.5K	0.00	15.41	0	3	717	1,285
2023-04-12	$23.45	$24.00	11.1%	3.2%	9.1%	17.8%	0.0%	0.4%	-0.9%	-72.8K	556.1K	-6.4K	0.00	14.54	0	3	717	1,287
2023-04-13	$23.41	$24.00	10.3%	3.0%	8.4%	14.6%	10.5%	-0.1%	-0.2%	-74.7K	564.2K	-6.2K	0.22	14.13	9	2	717	1,275
2023-04-14	$23.30	$24.00	26.2%	7.5%	8.3%	80.5%	9.2%	2.7%	-27.2%	-37.3K	803.2K	-6.3K	44.00	155.39	2	88	719	1,277
2023-04-17	$23.20	$24.00	10.3%	2.9%	7.5%	17.7%	10.3%	-1.0%	0.1%	-86.6K	762.5K	-6.1K	1.60	8.44	5	8	758	1,278
2023-04-18	$23.23	$24.00	10.8%	3.1%	7.4%	20.5%	10.7%	-0.7%	-0.5%	-71.3K	717.3K	-6.1K	0.00	10.31	2	0	763	1,282
2023-04-19	$23.20	$24.00	10.7%	3.1%	6.9%	20.0%	11.2%	-1.4%	0.3%	-73.8K	773.8K	-5.9K	0.21	9.11	14	3	763	1,283
2023-04-20	$23.29	$24.00	11.0%	3.1%	6.5%	21.4%	11.3%	-0.8%	-0.7%	-70.5K	673.1K	-6.0K	0.00	12.60	3	0	777	1,286
2023-04-21	$23.26	$24.00	10.3%	3.0%	6.1%	18.2%	10.0%	2.9%	0.4%	-69.9K	701.6K	-6.0K	0.47	13.45	19	9	778	1,286
2023-04-24	$23.32	$24.00	9.6%	2.7%	6.2%	14.3%	10.9%	-2.2%	1.3%	-70.4K	704.4K	-5.9K	17.76	29.24	17	302	680	1,177
2023-04-25	$23.52	$24.00	11.1%	3.2%	5.8%	22.2%	11.0%	-0.1%	-0.6%	-98.6K	872.3K	-7.5K	0.03	20.74	32	1	692	1,444
2023-04-26	$23.44	$24.00	10.6%	3.0%	6.0%	19.6%	0.0%	-0.3%	0.3%	-101.0K	969.8K	-7.4K	0.00	28.06	6	0	686	1,443
2023-04-27	$23.30	$24.00	9.9%	2.8%	6.3%	15.9%	10.1%	2.1%	0.1%	-116.9K	1.2M	-7.1K	0.00	17.20	0	2	687	1,443
2023-04-28	$23.45	$24.00	11.0%	3.1%	6.7%	21.4%	0.0%	4.1%	-1.2%	-104.3K	1.0M	-7.3K	0.00	23.84	3	0	687	1,445