IWM Options History — February 2023

In February 2023, IWM traded between $186.94 and $197.34. ATM implied volatility averaged 22.5%, placing in the 16.7% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded above realized volatility by 3.7% (HV 20d: 18.7%). Max pain ranged from $183.00 to $190.00. Net GEX was positive for 2 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 2.52.

Notable Days

  • 2023-02-02: Highest Volume — 1,228,406 contracts
  • 2023-02-21: Largest IV spike — 14.2% change
  • 2023-02-22: Highest IV Rank — 32.3%
  • 2023-02-21: Largest Expected Move — 7.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$191.91$186.94$197.34$195.66$188.91
Max Pain$187.84$183.00$190.00$183.00$188.00
ATM IV22.5%19.6%25.1%19.6%23.1%
Expected Move6.5%6.0%7.1%6.1%6.6%
HV 20d18.7%17.4%20.3%18.0%19.5%
HV 60d21.0%19.5%24.1%23.9%19.5%
IV Rank16.7%0.0%32.3%0.0%20.5%
IV Percentile13.1%0.0%34.9%0.0%15.9%
Term Structure0.1%-0.7%0.8%0.2%-0.6%
VWIV24.3%22.1%26.4%22.8%24.2%
Skew 25d4.9%4.1%6.3%4.1%5.3%
Skew 10d9.2%8.2%11.1%8.6%9.9%
Call IV 25d20.1%17.9%22.1%17.9%20.5%
Put IV 25d25.1%22.0%28.3%22.0%25.8%
Bid-Ask Spread %1.541.281.801.471.69
Gamma HHI0.040.030.050.050.04
Net GEX-763.2M-1.48B327.9M327.9M-1.31B
Net DEX4.2M-12.30B12.03B-11.60B7.71B
Net VEX-199.9M-210.3M-182.5M-182.5M-208.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.521.703.192.351.85
Total Volume725,142.842436,9721,228,406935,554436,972
Total OI8,412,160.1057,757,1279,003,7667,976,7828,351,946

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-02-01$195.66$183.0019.6%6.1%18.0%0.0%22.8%4.1%0.2%327.9M-11.60B-182.5M2.351.47279,239656,3152,283,2835,693,499
2023-02-02$197.34$185.0020.7%6.1%18.0%6.3%23.5%4.2%0.1%202.8M-12.30B-186.5M2.351.78366,139862,2672,284,8925,818,408
2023-02-03$196.56$187.0020.5%6.0%17.9%5.0%23.2%4.2%0.2%-360.6M-9.78B-194.5M1.701.51215,010365,1752,364,6176,219,630
2023-02-06$193.94$187.0021.8%6.4%18.2%12.8%23.8%4.9%0.4%-551.4M-3.62B-195.0M2.091.44280,624586,0582,324,6156,042,513
2023-02-07$195.13$188.0021.3%6.3%18.2%9.9%24.8%4.4%0.5%-498.8M-7.07B-187.9M2.891.66249,003718,6392,342,5606,048,114
2023-02-08$192.93$188.0022.1%6.5%18.8%14.9%24.2%4.7%0.4%-741.7M-2.06B-199.8M2.901.63174,851507,2512,436,9646,177,676
2023-02-09$190.18$188.0023.4%6.8%19.5%22.4%25.4%4.7%0.3%-1.07B3.59B-204.4M2.901.49218,803633,7602,431,6796,183,254
2023-02-10$190.47$188.0023.4%6.8%18.7%22.2%24.1%4.6%0.3%-1.05B3.05B-207.8M2.671.33193,804517,1722,511,5186,319,639
2023-02-13$192.49$188.0023.0%6.6%18.8%19.9%25.8%4.7%0.2%-653.1M-1.64B-203.6M2.111.44183,666386,8392,430,7556,196,295
2023-02-14$193.00$188.0020.8%6.0%18.7%6.9%23.4%4.4%0.6%-504.9M-3.60B-199.2M3.101.66136,931424,0412,489,8706,268,255
2023-02-15$194.44$188.0020.8%6.0%17.7%7.0%22.1%4.5%0.7%-223.1M-6.97B-196.4M2.281.80140,503320,0322,523,2196,283,355
2023-02-16$192.84$188.0021.9%6.3%17.7%13.6%24.6%5.2%0.7%-517.3M-3.10B-201.3M2.751.61203,890560,6512,534,1266,302,366
2023-02-17$192.89$190.0022.0%6.2%17.4%14.1%22.6%4.9%0.8%-694.3M-2.73B-202.0M2.401.28193,504464,2932,556,6476,447,119
2023-02-21$187.88$190.0025.1%7.1%19.4%32.3%26.4%6.3%-0.7%-1.42B11.00B-204.7M3.191.36213,779681,3682,186,8325,570,295
2023-02-22$187.38$190.0025.1%7.0%19.4%32.3%26.0%6.2%-0.5%-1.42B11.18B-205.3M2.501.57168,296420,3752,224,3055,630,075
2023-02-23$189.37$189.0023.8%6.6%19.8%24.5%24.6%5.8%-0.5%-1.21B6.74B-202.7M2.461.51215,897531,7912,263,2195,655,870
2023-02-24$186.94$188.0024.5%6.8%20.3%28.4%25.4%5.5%-0.6%-1.48B12.03B-210.3M2.891.45180,073520,0142,369,2345,865,640
2023-02-27$187.99$188.0023.9%6.8%20.0%25.0%24.0%5.4%-0.5%-1.33B9.23B-206.8M2.601.59158,720411,9692,337,1005,861,658
2023-02-28$188.91$188.0023.1%6.6%19.5%20.5%24.2%5.3%-0.6%-1.31B7.71B-208.0M1.851.69153,256283,7162,369,9015,982,045