GOVT Options History — March 2024

In March 2024, GOVT traded between $22.52 and $22.82. ATM implied volatility averaged 10.8%, placing in the 26.4% IV rank vs the trailing year. The 30-day expected move averaged 2.6%. IV traded above realized volatility by 6.3% (HV 20d: 4.5%). Max pain ranged from $22.00 to $23.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.44.

Notable Days

2024-03-27: Highest Volume — 120 contracts
2024-03-18: Largest IV spike — 331.6% change
2024-03-12: Highest IV Rank — 100.0%
2024-03-18: Largest Expected Move — 7.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.68	$22.52	$22.82	$22.69	$22.73
Max Pain	$22.95	$22.00	$23.00	$22.00	$23.00
ATM IV	10.8%	3.8%	30.8%	6.2%	20.4%
Expected Move	2.6%	1.1%	7.6%	1.8%	5.8%
HV 20d	4.5%	3.8%	6.2%	6.2%	4.0%
HV 60d	5.4%	5.1%	5.9%	5.9%	5.1%
IV Rank	26.4%	0.0%	100.0%	9.1%	61.3%
IV Percentile	47.3%	0.0%	100.0%	6.0%	98.8%
Term Structure	1.7%	-0.7%	4.4%	0.2%	2.3%
VWIV	5.4%	4.1%	6.9%	5.0%	4.1%
Skew 25d	1.4%	-1.8%	5.3%	-0.8%	5.3%
Skew 10d	0.4%	-3.3%	5.8%	-1.6%	4.1%
Call IV 25d	6.6%	3.8%	8.5%	7.8%	8.1%
Put IV 25d	8.0%	5.7%	13.4%	7.0%	13.4%
Bid-Ask Spread %	111.47	62.31	139.48	62.31	139.33
Gamma HHI	0.58	0.36	0.83	0.70	0.54
Net GEX	116.8K	18.1K	277.0K	159.0K	65.7K
Net DEX	-369.5K	-678.6K	-101.7K	-448.7K	-352.2K
Net VEX	-2.5K	-3.2K	-2.0K	-2.6K	-2.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.44	0.00	2.25	2.00	0.00
Total Volume	24.8	0	120	3	0
Total OI	1,632.9	1,109	2,098	1,952	1,248

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
2024-03-01	$22.69	$22.00	6.2%	1.8%	6.2%	9.1%	5.0%	-0.8%	0.2%	159.0K	-448.7K	-2.6K	2.00	62.31	1	2	848	1,104
2024-03-04	$22.63	$23.00	15.9%	2.1%	5.5%	53.4%	0.0%	-1.5%	-0.0%	87.8K	-408.9K	-3.2K	0.00	89.07	0	2	849	1,105
2024-03-05	$22.74	$23.00	6.7%	1.9%	5.1%	11.3%	6.8%	0.2%	0.6%	190.9K	-469.5K	-2.4K	0.00	116.44	18	0	849	1,104
2024-03-06	$22.77	$23.00	5.3%	2.0%	4.9%	5.2%	0.0%	0.1%	0.2%	227.3K	-466.6K	-2.4K	0.00	109.80	7	0	864	1,104
2024-03-07	$22.81	$23.00	5.9%	1.7%	4.9%	7.9%	6.0%	0.5%	1.0%	270.0K	-521.3K	-2.2K	0.12	119.19	85	10	865	1,104
2024-03-08	$22.82	$23.00	9.5%	2.0%	4.8%	24.1%	6.9%	-1.8%	-0.4%	240.4K	-678.6K	-2.6K	0.00	114.42	33	0	950	1,114
2024-03-11	$22.80	$23.00	10.9%	1.8%	4.8%	30.7%	0.0%	-1.5%	0.3%	277.0K	-628.2K	-2.5K	0.00	103.66	0	0	983	1,114
2024-03-12	$22.73	$23.00	30.8%	2.1%	4.9%	100.0%	0.0%	-0.6%	-0.7%	162.5K	-609.3K	-2.6K	0.00	101.28	0	0	983	1,114
2024-03-13	$22.69	$23.00	5.5%	1.6%	3.8%	5.1%	0.0%	1.1%	-0.1%	152.2K	-594.3K	-2.5K	0.00	123.75	7	0	983	1,094
2024-03-14	$22.56	$23.00	4.9%	1.4%	4.3%	2.8%	4.5%	2.6%	2.3%	113.7K	-437.3K	-2.5K	1.62	112.54	13	21	984	1,094
2024-03-15	$22.55	$23.00	6.1%	1.8%	4.2%	7.3%	0.0%	3.2%	1.8%	44.2K	-327.6K	-2.4K	0.03	110.73	96	3	983	1,115
2024-03-18	$22.52	$23.00	26.4%	7.6%	4.1%	83.3%	0.0%	0.9%	2.6%	18.1K	-124.0K	-2.7K	0.05	112.56	19	1	395	714
2024-03-19	$22.56	$23.00	4.1%	1.2%	4.1%	0.0%	4.7%	1.9%	4.4%	46.7K	-101.7K	-2.3K	0.11	90.49	18	2	394	718
2024-03-20	$22.61	$23.00	3.8%	1.1%	4.1%	0.0%	0.0%	2.1%	4.0%	46.4K	-155.3K	-2.5K	2.25	129.90	4	9	408	720
2024-03-21	$22.62	$23.00	10.6%	3.0%	4.1%	25.1%	0.0%	2.8%	3.6%	36.3K	-173.4K	-2.5K	0.00	125.89	10	0	410	729
2024-03-22	$22.69	$23.00	4.4%	1.3%	4.0%	2.1%	4.1%	3.5%	3.3%	60.5K	-190.6K	-2.5K	0.00	109.56	15	0	418	729
2024-03-25	$22.64	$23.00	16.4%	4.7%	4.0%	46.4%	0.0%	4.2%	2.1%	33.0K	-212.4K	-2.4K	0.00	139.48	0	0	427	729
2024-03-26	$22.68	$23.00	11.3%	3.3%	4.0%	27.9%	0.0%	2.8%	2.6%	45.2K	-218.2K	-2.4K	0.00	111.51	0	0	427	729
2024-03-27	$22.73	$23.00	10.5%	3.0%	4.0%	24.7%	0.0%	3.2%	3.3%	58.2K	-271.5K	-2.0K	0.00	107.49	120	0	427	729
2024-03-28	$22.73	$23.00	20.4%	5.8%	4.0%	61.3%	0.0%	5.3%	2.3%	65.7K	-352.2K	-2.5K	0.00	139.33	0	0	519	729