IHDG Options History — May 2023

In May 2023, IHDG traded between $39.36 and $40.63. ATM implied volatility averaged 47.2%, placing in the 17.1% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded above realized volatility by 37.8% (HV 20d: 9.4%). Max pain ranged from $40.62 to $41.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 0.00.

Notable Days

2023-05-22: Highest Volume — 2 contracts
2023-05-10: Largest IV drop — 48.3% change
2023-05-09: Highest IV Rank — 25.0%
2023-05-31: Largest Expected Move — 16.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.22	$39.36	$40.63	$40.59	$39.36
Max Pain	$40.87	$40.62	$41.00	$40.62	$41.00
ATM IV	47.2%	33.4%	64.6%	53.1%	56.2%
Expected Move	12.2%	8.2%	16.1%	15.2%	16.1%
HV 20d	9.4%	7.8%	10.9%	7.8%	10.7%
HV 60d	11.5%	10.9%	11.8%	11.6%	11.8%
IV Rank	17.1%	10.7%	25.0%	19.8%	21.2%
IV Percentile	54.1%	14.3%	89.3%	73.0%	80.6%
Term Structure	-2.7%	-10.9%	7.9%	-0.1%	-10.9%
VWIV	28.7%	28.7%	28.7%	28.7%	28.7%
Skew 25d	36.5%	13.1%	55.4%	55.4%	43.4%
Skew 10d	42.2%	27.6%	69.7%	65.3%	39.0%
Call IV 25d	37.3%	13.6%	50.3%	40.1%	50.3%
Put IV 25d	73.8%	46.7%	96.4%	95.6%	93.7%
Bid-Ask Spread %	167.04	148.75	183.51	153.08	178.82
Gamma HHI	1.00	1.00	1.00	1.00	1.00
Net GEX	716	0	10.7K	197	255
Net DEX	-3.8K	-4.4K	0	-4.4K	-3.1K
Net VEX	-5	-8	0	-7	-6
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.091	0	2	0	0
Total OI	1.909	0	2	2	2

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Call OI
2023-05-01	$40.59	$40.62	53.1%	15.2%	7.8%	19.8%	0.0%	55.4%	-0.1%	197	-4.4K	-7	153.08	N/A	N/A	0	2
2023-05-02	$40.23	$40.62	50.3%	14.4%	8.6%	18.5%	0.0%	45.2%	-8.3%	254	-4.0K	-7	156.13	N/A	N/A	0	2
2023-05-03	$40.28	$40.62	52.2%	15.0%	8.5%	19.4%	0.0%	47.0%	-9.7%	251	-4.1K	-7	154.29	N/A	N/A	0	2
2023-05-04	$40.16	$0.00	53.2%	10.7%	8.6%	19.8%	0.0%	20.4%	-0.1%	242	-4.0K	-7	166.02	N/A	N/A	0	2
2023-05-05	$40.55	$0.00	55.3%	8.2%	9.1%	20.8%	0.0%	43.9%	7.9%	258	-4.3K	-6	179.68	N/A	N/A	0	2
2023-05-08	$40.60	$0.00	62.8%	9.6%	9.1%	24.2%	0.0%	36.5%	4.2%	256	-4.3K	-6	154.68	N/A	N/A	0	2
2023-05-09	$40.34	$0.00	64.6%	8.7%	9.5%	25.0%	0.0%	28.9%	-0.6%	288	-4.1K	-5	157.12	N/A	N/A	0	2
2023-05-10	$40.16	$0.00	33.4%	9.6%	9.7%	10.7%	0.0%	13.1%	-7.0%	278	-3.9K	-5	148.75	N/A	N/A	0	2
2023-05-11	$40.36	$0.00	36.8%	10.5%	9.1%	12.3%	0.0%	30.9%	5.0%	267	-4.1K	-5	159.30	N/A	N/A	0	2
2023-05-12	$40.45	$0.00	39.0%	11.2%	9.1%	13.3%	0.0%	31.1%	-5.9%	266	-4.2K	-4	164.38	N/A	N/A	0	2
2023-05-15	$40.56	$0.00	37.2%	10.7%	9.1%	12.5%	0.0%	31.9%	2.2%	271	-4.2K	-3	160.20	N/A	N/A	0	2
2023-05-16	$40.30	$0.00	41.0%	11.8%	9.5%	14.2%	0.0%	36.0%	3.8%	262	-4.0K	-3	168.32	N/A	N/A	0	2
2023-05-17	$40.37	$0.00	41.1%	11.8%	9.4%	14.3%	0.0%	34.0%	-6.2%	255	-4.1K	-2	170.12	N/A	N/A	0	2
2023-05-18	$40.50	$0.00	42.3%	12.1%	9.5%	14.8%	0.0%	34.8%	2.6%	270	-4.2K	-2	183.51	N/A	N/A	0	2
2023-05-19	$40.63	$0.00	39.7%	11.4%	8.9%	13.6%	0.0%	36.2%	-6.1%	10.7K	-4.3K	0	178.82	N/A	N/A	0	2
2023-05-22	$40.56	$0.00	41.7%	12.0%	8.9%	14.6%	28.7%	38.0%	-7.1%	0	0	0	177.89	N/A	N/A	2	0
2023-05-23	$39.94	$41.00	44.5%	12.7%	10.4%	15.8%	0.0%	37.2%	-6.8%	263	-3.6K	-8	176.51	N/A	N/A	0	2
2023-05-24	$39.55	$41.00	46.5%	13.3%	10.8%	16.8%	0.0%	34.9%	-7.8%	177	-3.7K	-8	175.61	N/A	N/A	0	2
2023-05-25	$39.69	$41.00	45.6%	13.1%	9.7%	16.3%	0.0%	39.0%	-7.6%	275	-3.3K	-8	173.74	N/A	N/A	0	2
2023-05-26	$40.06	$41.00	50.9%	14.6%	10.4%	18.8%	0.0%	41.6%	1.5%	188	-3.9K	-8	166.98	N/A	N/A	0	2
2023-05-30	$39.57	$41.00	51.5%	14.8%	10.9%	19.0%	0.0%	43.1%	-2.6%	255	-3.3K	-7	170.91	N/A	N/A	0	2
2023-05-31	$39.36	$41.00	56.2%	16.1%	10.7%	21.2%	0.0%	43.4%	-10.9%	255	-3.1K	-6	178.82	N/A	N/A	0	2