IWM Options History — January 2023

In January 2023, IWM traded between $173.11 and $190.86. ATM implied volatility averaged 22.5%, placing in the 13.1% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 3.2% (HV 20d: 19.4%). Max pain ranged from $180.00 to $183.00. Net GEX was positive for 2 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 2.29.

Notable Days

  • 2023-01-12: Highest Volume — 960,881 contracts
  • 2023-01-30: Largest IV spike — 9.3% change
  • 2023-01-03: Highest IV Rank — 37.7%
  • 2023-01-03: Largest Expected Move — 7.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$183.36$173.11$190.86$173.11$190.86
Max Pain$180.20$180.00$183.00$180.00$183.00
ATM IV22.5%20.1%25.9%25.9%21.4%
Expected Move6.6%5.9%7.5%7.5%6.8%
HV 20d19.4%16.5%21.6%21.1%17.0%
HV 60d25.0%23.5%26.7%26.7%23.5%
IV Rank13.1%0.0%37.7%37.7%7.5%
IV Percentile8.7%0.0%31.3%31.3%2.4%
Term Structure-0.2%-0.6%0.6%-0.3%-0.1%
VWIV24.2%21.8%26.6%26.0%24.6%
Skew 25d3.8%3.0%4.6%3.6%4.2%
Skew 10d7.1%5.6%9.1%6.9%8.4%
Call IV 25d20.6%18.5%23.8%23.8%19.5%
Put IV 25d24.4%21.6%27.5%27.4%23.7%
Bid-Ask Spread %1.281.101.621.251.10
Gamma HHI0.050.040.080.060.04
Net GEX-614.8M-1.34B343.8M-1.17B-279.1M
Net DEX3.62B-6.22B16.99B16.99B-3.14B
Net VEX-185.8M-196.7M-178.6M-179.8M-190.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.291.223.301.322.54
Total Volume687,913.45401,913960,881483,519815,207
Total OI7,701,816.756,998,5878,937,1796,998,5877,794,724

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-01-03$173.11$180.0025.9%7.5%21.1%37.7%26.0%3.6%-0.3%-1.17B16.99B-179.8M1.321.25208,102275,4172,207,3074,791,280
2023-01-04$174.75$180.0025.4%7.3%19.1%35.1%25.2%3.6%-0.4%-1.03B14.38B-181.0M2.471.41188,133465,2832,243,7474,868,511
2023-01-05$173.95$180.0025.7%7.3%18.7%35.8%26.6%4.0%-0.6%-1.19B16.26B-180.3M2.031.52132,794269,1192,273,3654,930,040
2023-01-06$177.80$180.0023.9%6.9%20.5%16.5%25.7%3.6%-0.5%-572.4M8.78B-179.6M1.461.30353,137514,2052,340,9204,965,973
2023-01-09$178.01$180.0024.5%7.1%20.4%20.6%26.2%3.7%0.3%-666.6M8.31B-181.4M3.231.39130,347421,2732,366,0524,942,055
2023-01-10$180.13$180.0023.4%6.8%20.7%13.5%24.8%3.3%0.4%-519.4M5.35B-181.1M2.621.37135,992356,3672,372,7265,082,069
2023-01-11$182.30$180.0023.7%6.9%20.8%15.3%25.9%3.6%0.3%-50.3M1.82B-182.2M1.881.40252,041474,2522,393,1945,248,868
2023-01-12$185.39$180.0021.6%6.3%21.6%1.9%23.5%3.1%0.4%-138.2M-3.37B-178.6M2.631.62264,571696,3102,403,7055,433,983
2023-01-13$187.22$180.0020.3%5.9%21.4%0.0%21.9%3.0%0.6%15.9M-6.22B-181.3M2.921.10218,018636,1472,477,9635,708,145
2023-01-17$186.68$180.0021.1%6.1%19.0%5.0%23.4%3.7%-0.4%-372.5M-3.24B-182.3M2.591.13186,155482,9632,459,7425,790,965
2023-01-18$183.88$180.0022.5%6.4%19.8%13.6%23.6%4.3%-0.4%-1.01B2.92B-187.9M2.401.23279,273671,5252,515,9205,873,151
2023-01-19$182.34$180.0022.7%6.5%19.3%15.0%23.5%4.6%-0.5%-1.34B7.89B-193.1M1.441.28340,982491,2092,591,1956,099,666
2023-01-20$184.50$180.0021.8%6.3%19.5%9.6%22.2%3.8%-0.6%-1.12B1.58B-190.3M2.051.29263,422539,6502,699,6646,237,515
2023-01-23$187.24$180.0021.7%6.4%19.6%8.8%22.6%3.5%-0.2%-420.0M58.3M-188.0M2.761.12202,164558,9472,053,1725,128,566
2023-01-24$186.74$180.0021.6%6.4%18.5%8.0%24.3%3.9%-0.3%-687.1M2.26B-190.4M3.301.25108,148356,9592,032,6015,248,808
2023-01-25$187.13$180.0021.1%6.3%18.5%5.2%22.4%3.9%-0.3%-761.3M1.55B-191.1M2.271.31186,660423,3882,070,3225,371,086
2023-01-26$187.78$180.0020.7%6.2%18.2%2.5%23.6%3.8%-0.3%-598.3M306.7M-188.2M2.381.34220,894525,1352,110,2875,420,150
2023-01-27$189.94$180.0020.1%6.1%16.8%0.0%21.8%3.4%-0.3%343.8M-3.12B-191.8M1.221.12232,203283,4902,215,8385,575,452
2023-01-30$187.44$181.0022.0%6.9%16.5%11.2%26.3%4.6%-0.0%-741.3M3.13B-196.7M2.271.12182,770415,6172,179,4805,518,128
2023-01-31$190.86$183.0021.4%6.8%17.0%7.5%24.6%4.2%-0.1%-279.1M-3.14B-190.9M2.541.10230,602584,6052,189,2145,605,510