HYG Options History — March 2021

In March 2021, HYG traded between $85.76 and $87.15. ATM implied volatility averaged 7.4%, placing in the 7.1% IV rank vs the trailing year. The 30-day expected move averaged 2.1%. IV traded above realized volatility by 2.1% (HV 20d: 5.3%). Max pain ranged from $87.00 to $88.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 6 of 23 days. Put/call ratio averaged 7.72.

Notable Days

  • 2021-03-01: Highest Volume — 683,037 contracts
  • 2021-03-08: Largest IV spike — 26.3% change
  • 2021-03-08: Highest IV Rank — 10.3%
  • 2021-03-18: Largest Expected Move — 2.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$86.54$85.76$87.15$87.08$87.15
Max Pain$87.13$87.00$88.00$88.00$87.00
ATM IV7.4%5.5%9.3%7.3%5.7%
Expected Move2.1%1.3%2.5%2.1%1.4%
HV 20d5.3%4.1%6.4%4.2%5.7%
HV 60d4.0%3.5%4.4%3.5%4.4%
IV Rank7.1%4.0%10.3%6.3%4.6%
IV Percentile23.7%5.2%40.1%21.4%7.1%
Term Structure-0.3%-2.1%1.2%0.2%0.2%
VWIV8.8%5.8%11.1%8.5%6.6%
Skew 25d3.6%1.7%5.7%2.3%2.3%
Skew 10d7.4%3.4%13.8%3.4%5.4%
Call IV 25d6.3%5.2%7.4%6.4%5.5%
Put IV 25d9.9%6.9%13.0%8.7%7.8%
Bid-Ask Spread %33.589.7368.0738.6830.50
Gamma HHI0.180.130.270.140.22
Net GEX-2.83B-4.36B-1.62B-2.23B-1.62B
Net DEX7.18B2.43B12.97B5.44B2.43B
Net VEX-26.1M-33.8M-17.1M-29.0M-17.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.721.2227.6611.422.95
Total Volume292,754.739133,620683,037683,037271,049
Total OI6,213,625.9575,012,0727,564,6116,178,7215,283,514

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-03-01$87.08$88.007.3%2.1%4.2%6.3%8.5%2.3%0.2%-2.23B5.44B-29.0M11.4238.6855,016628,0211,033,8895,144,832
2021-03-02$86.99$88.007.2%2.0%4.2%6.2%7.9%3.5%-0.1%-2.06B5.79B-28.1M2.6310.7348,625128,0881,071,6905,189,770
2021-03-03$86.76$88.007.1%2.0%4.1%5.9%8.8%4.5%-0.3%-2.44B7.71B-31.7M1.229.7399,203121,1231,071,0645,207,637
2021-03-04$86.47$87.008.9%2.3%4.3%9.6%10.4%5.0%-0.6%-2.87B8.86B-31.9M27.6668.0711,661322,5621,048,9035,301,076
2021-03-05$86.72$87.007.3%1.9%4.3%6.4%10.3%2.9%-0.1%-3.20B7.23B-27.3M18.1933.9319,689358,0851,064,4695,458,479
2021-03-08$86.03$87.009.3%2.4%5.1%10.3%11.1%5.7%-0.9%-3.01B10.87B-33.6M5.8452.2769,361405,3111,050,6025,454,456
2021-03-09$86.09$87.008.8%2.4%4.9%9.3%9.7%4.4%-0.6%-3.05B11.14B-33.8M2.1539.1266,238142,4021,101,2145,615,141
2021-03-10$86.44$87.007.7%2.3%5.2%7.2%9.1%4.0%0.4%-3.23B9.29B-28.5M6.9963.0136,037251,9911,118,6665,678,575
2021-03-11$86.69$87.008.0%2.0%5.4%7.8%10.0%4.5%-1.6%-2.93B7.65B-27.1M9.4259.3822,217209,2491,138,3785,702,703
2021-03-12$86.49$87.007.3%2.2%5.4%6.4%9.6%3.4%0.6%-3.67B8.40B-27.6M4.2514.2244,043187,3811,167,0375,797,101
2021-03-15$86.47$87.007.4%2.1%5.4%6.5%8.5%3.7%0.0%-3.45B8.21B-24.7M12.4725.0919,279240,4821,185,4155,823,672
2021-03-16$86.26$87.007.8%2.2%5.4%7.3%9.6%4.6%-0.4%-3.21B9.76B-26.8M4.5415.2563,032285,8671,187,2715,889,437
2021-03-17$86.42$87.008.5%2.4%5.4%8.8%9.7%4.2%-2.1%-3.19B8.98B-28.5M3.4244.4459,000201,6431,216,6766,082,164
2021-03-18$85.76$87.008.8%2.5%6.0%9.5%10.1%4.9%1.2%-3.83B12.97B-32.7M6.9520.3455,588386,5001,222,2436,195,899
2021-03-19$86.12$87.008.3%2.4%6.3%8.4%9.5%3.6%-0.8%-4.36B9.84B-26.3M3.4920.5458,515204,1091,250,3016,314,310
2021-03-22$86.38$87.006.9%2.0%6.4%5.6%9.1%3.6%-0.1%-2.60B5.17B-23.1M3.2419.9743,530141,228669,4864,342,586
2021-03-23$86.34$87.007.3%2.1%6.3%6.3%9.1%2.6%-0.8%-2.75B5.51B-22.3M21.3267.9426,516565,446705,0364,377,318
2021-03-24$86.56$87.007.5%2.1%6.4%9.6%7.5%3.3%-0.3%-2.47B4.64B-21.0M2.8857.8444,128126,972707,0824,311,269
2021-03-25$86.60$87.006.6%1.9%5.7%7.3%6.8%2.7%-0.4%-2.42B3.95B-19.1M14.5818.7311,845172,654751,4404,382,608
2021-03-26$86.83$87.005.9%1.6%5.8%5.5%6.7%3.7%-0.0%-2.27B3.74B-19.8M2.0121.0765,991132,673754,4314,424,602
2021-03-29$86.94$87.005.5%1.6%5.6%4.0%5.8%1.7%-0.5%-1.81B4.19B-22.6M3.9721.5326,882106,738773,3164,412,330
2021-03-30$86.81$87.005.9%1.3%5.6%5.5%6.9%2.7%-0.1%-2.34B3.35B-17.8M6.0120.0628,160169,229774,2754,461,034
2021-03-31$87.15$87.005.7%1.4%5.7%4.6%6.6%2.3%0.2%-1.62B2.43B-17.1M2.9530.5068,602202,447785,5854,497,929