HYG Options History — March 2023

In March 2023, HYG traded between $73.12 and $75.50. ATM implied volatility averaged 12.3%, placing in the 29.3% IV rank vs the trailing year. The 30-day expected move averaged 3.5%. IV traded above realized volatility by 1.7% (HV 20d: 10.7%). Max pain ranged from $75.00 to $76.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 11 of 23 days. Put/call ratio averaged 4.33.

Notable Days

  • 2023-03-15: Highest Volume — 1,091,916 contracts
  • 2023-03-16: Largest IV drop — 16.9% change
  • 2023-03-13: Highest IV Rank — 50.6%
  • 2023-03-15: Largest Expected Move — 4.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$73.88$73.12$75.50$73.93$75.50
Max Pain$75.07$75.00$76.00$76.00$75.00
ATM IV12.3%10.3%15.4%12.3%10.3%
Expected Move3.5%2.9%4.1%3.7%2.9%
HV 20d10.7%9.3%11.6%11.4%10.2%
HV 60d10.1%9.7%10.3%10.1%10.1%
IV Rank29.3%11.9%50.6%29.4%11.9%
IV Percentile39.6%9.9%77.8%42.1%9.9%
Term Structure-0.2%-2.3%0.4%-0.1%0.4%
VWIV12.9%10.5%15.6%14.4%10.5%
Skew 25d3.4%2.5%5.0%3.2%2.5%
Skew 10d6.2%4.3%9.1%6.0%4.3%
Call IV 25d10.9%9.3%12.9%10.8%9.3%
Put IV 25d14.3%11.8%17.7%14.0%11.8%
Bid-Ask Spread %9.183.5146.515.044.20
Gamma HHI0.130.110.160.130.13
Net GEX-1.78B-2.47B-244.9M-1.83B-244.9M
Net DEX8.27B-974.2M13.63B10.37B-974.2M
Net VEX-37.2M-46.1M-24.2M-40.7M-24.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.330.6910.695.370.69
Total Volume423,164.174148,5741,091,916335,227345,196
Total OI7,920,864.4356,714,4749,209,2207,813,4797,685,069

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$73.93$76.0012.3%3.7%11.4%29.4%14.4%3.2%-0.1%-1.83B10.37B-40.7M5.375.0452,641282,5861,591,5456,221,934
2023-03-02$73.97$75.5012.0%3.6%11.0%26.9%13.2%3.3%0.4%-1.89B9.08B-39.3M5.905.8093,154549,7231,627,6656,142,279
2023-03-03$74.72$75.0011.4%3.3%11.6%23.0%11.5%2.7%0.0%-1.40B5.91B-38.6M1.754.77110,073193,1141,672,2496,290,631
2023-03-06$74.70$75.0011.6%3.1%11.1%23.9%12.0%2.7%-0.4%-1.43B5.87B-37.6M4.0416.6985,589345,8151,703,5736,424,573
2023-03-07$74.22$75.0012.1%3.3%11.2%28.0%12.8%2.9%-2.3%-1.81B8.10B-39.4M3.9515.5495,225376,4741,744,0906,577,300
2023-03-08$73.81$75.0012.2%3.3%11.2%28.5%12.2%2.8%-0.3%-2.19B10.37B-41.0M3.973.5194,536375,4211,780,9256,691,350
2023-03-09$73.43$75.0013.8%3.9%11.2%39.7%13.6%3.7%-0.5%-2.31B12.26B-44.9M7.844.7743,429340,3611,831,7266,858,976
2023-03-10$73.32$75.0014.1%3.9%11.0%41.9%14.3%3.3%-0.5%-2.43B13.15B-46.1M7.268.5285,313619,7451,855,5816,957,182
2023-03-13$73.16$75.0015.4%4.1%10.8%50.6%15.5%5.0%-1.0%-2.32B13.63B-44.6M10.696.6649,417528,1951,834,4666,909,544
2023-03-14$73.47$75.0012.8%3.6%10.8%33.0%13.4%4.1%-0.3%-2.46B11.73B-39.9M4.873.8474,373362,5501,865,0507,025,957
2023-03-15$73.25$75.0014.9%4.1%10.8%47.1%15.6%4.7%-0.6%-2.47B13.18B-43.7M8.527.47114,736977,1801,886,2627,058,588
2023-03-16$73.85$75.0012.4%3.4%11.3%29.6%14.0%4.0%-0.6%-2.27B9.56B-39.2M4.564.1489,921409,9571,977,2737,219,187
2023-03-17$73.41$75.0014.3%4.1%11.2%42.8%14.7%4.8%-0.4%-2.07B11.30B-40.8M6.3417.2039,312249,2022,007,8297,201,391
2023-03-20$73.12$75.0013.0%3.7%11.2%34.0%14.5%3.8%0.0%-1.73B9.28B-38.2M2.246.3178,381175,8901,134,5785,579,896
2023-03-21$74.06$75.0011.9%3.4%10.6%26.1%13.2%3.3%-0.1%-1.45B5.84B-34.4M4.436.1649,164217,8731,190,0665,657,711
2023-03-22$74.28$75.0011.0%3.2%10.5%20.1%11.4%3.2%0.2%-1.33B4.86B-33.0M2.3346.5156,667131,8601,224,5225,700,370
2023-03-23$73.70$75.0012.5%3.6%9.9%30.8%13.2%3.6%0.1%-1.69B7.29B-36.2M3.125.00100,336313,2771,259,3535,815,337
2023-03-24$73.62$75.0012.4%3.5%9.6%29.5%13.2%3.3%0.2%-1.74B7.71B-36.7M5.0917.0024,409124,1651,295,9985,935,995
2023-03-27$73.50$75.0011.6%3.3%9.3%24.2%11.5%3.3%0.2%-1.78B7.70B-32.6M2.414.9666,526160,3751,230,7965,792,899
2023-03-28$73.38$75.0011.0%3.1%9.3%20.3%11.4%3.1%0.3%-1.92B7.90B-31.1M1.744.29110,873192,3981,270,0735,791,756
2023-03-29$74.27$75.0010.4%3.0%9.9%15.9%11.1%2.6%0.3%-1.30B3.93B-27.1M1.225.07218,136266,7761,352,7035,884,479
2023-03-30$74.68$75.0010.6%3.0%10.1%17.6%10.6%2.9%0.4%-882.6M2.24B-27.0M1.257.66205,695256,7371,487,1405,934,015
2023-03-31$75.50$75.0010.3%2.9%10.2%11.9%10.5%2.5%0.4%-244.9M-974.2M-24.2M0.694.20203,724141,4721,622,4446,062,625