IWM Options History — March 2023

In March 2023, IWM traded between $170.43 and $191.43. ATM implied volatility averaged 25.3%, placing in the 33.0% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded above realized volatility by 2.9% (HV 20d: 22.4%). Max pain ranged from $181.00 to $190.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 2.38.

Notable Days

  • 2023-03-10: Highest Volume — 2,295,164 contracts
  • 2023-03-10: Largest IV spike — 15.1% change
  • 2023-03-17: Highest IV Rank — 60.6%
  • 2023-03-17: Largest Expected Move — 8.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$178.23$170.43$191.43$188.50$177.75
Max Pain$186.57$181.00$190.00$188.00$181.00
ATM IV25.3%21.1%30.0%23.4%22.4%
Expected Move7.2%6.0%8.4%6.8%6.3%
HV 20d22.4%15.8%27.5%18.3%27.5%
HV 60d20.6%18.5%22.2%19.4%21.8%
IV Rank33.0%9.0%60.6%22.0%16.2%
IV Percentile36.6%4.0%74.2%17.1%12.3%
Term Structure-0.2%-0.9%0.7%-0.6%0.7%
VWIV26.8%21.9%30.9%24.3%24.2%
Skew 25d6.0%3.6%8.8%5.0%5.1%
Skew 10d11.7%7.0%17.2%9.1%10.0%
Call IV 25d22.4%19.4%26.2%20.7%19.9%
Put IV 25d28.4%23.3%34.5%25.7%25.0%
Bid-Ask Spread %1.721.232.711.401.47
Gamma HHI0.050.040.080.040.05
Net GEX-1.83B-2.60B-643.0M-1.43B-1.31B
Net DEX24.91B1.35B44.88B8.03B16.14B
Net VEX-230.3M-264.3M-205.0M-206.6M-264.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.381.223.981.642.23
Total Volume1,110,972.043430,9482,295,164430,9481,133,248
Total OI9,382,045.9138,489,76710,641,6608,489,76710,641,660

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$188.50$188.0023.4%6.8%18.3%22.0%24.3%5.0%-0.6%-1.43B8.03B-206.6M1.641.40163,068267,8802,430,8766,058,891
2023-03-02$189.09$188.0022.6%6.5%15.8%17.4%23.3%4.7%-0.6%-1.22B6.33B-206.8M3.731.34138,220515,2252,445,3126,069,495
2023-03-03$191.43$188.0021.3%6.1%16.1%9.8%21.9%4.4%-0.4%-643.0M1.35B-205.4M3.101.82171,651532,4182,492,9046,200,438
2023-03-06$188.53$190.0021.1%6.0%16.9%9.0%23.0%3.8%0.1%-1.50B7.81B-205.0M2.061.39225,323464,6672,407,9936,196,473
2023-03-07$186.80$190.0021.8%6.2%16.5%12.7%23.4%3.9%0.1%-1.66B11.65B-207.3M1.761.26293,703516,2762,464,3406,153,073
2023-03-08$186.47$190.0021.7%6.1%16.3%12.0%22.3%3.6%0.0%-1.71B11.58B-211.5M2.051.23224,722460,9342,629,3206,221,479
2023-03-09$181.52$190.0024.8%6.9%18.2%30.1%25.5%4.2%-0.0%-2.17B22.81B-218.7M2.811.67316,139887,9012,664,5916,283,700
2023-03-10$175.31$190.0028.5%7.9%21.1%51.9%29.1%6.5%-0.5%-2.31B37.65B-221.8M3.981.72460,4371,834,7272,813,6376,477,735
2023-03-13$173.81$190.0029.4%8.1%21.1%57.1%30.3%7.5%-0.9%-2.42B40.13B-219.1M1.992.71418,371831,4932,834,1096,648,136
2023-03-14$175.75$190.0027.2%7.6%21.1%44.2%29.1%6.5%-0.5%-2.43B34.67B-225.2M3.631.92265,606964,0842,888,8716,712,766
2023-03-15$172.93$190.0029.3%8.2%21.3%56.7%30.5%8.8%-0.8%-2.60B42.15B-225.8M2.462.21454,6001,120,2872,968,1496,903,249
2023-03-16$176.36$189.0026.3%7.4%22.7%39.0%29.4%7.2%-0.6%-2.56B32.74B-233.1M2.262.12396,582897,2623,039,0036,973,207
2023-03-17$171.44$188.0030.0%8.4%24.2%60.6%30.9%8.2%-0.8%-2.30B44.88B-229.2M1.972.03465,824916,2743,200,0747,154,981
2023-03-20$173.47$185.0028.5%8.1%24.9%52.2%30.8%8.1%-0.7%-1.59B30.49B-233.0M1.431.52464,402664,4802,598,9616,045,634
2023-03-21$177.25$185.0026.0%7.4%25.3%37.2%28.6%6.0%-0.5%-1.35B22.59B-242.4M1.641.82325,927534,9242,716,0516,241,948
2023-03-22$173.06$185.0025.7%7.4%26.4%35.6%26.9%5.8%-0.4%-1.92B32.23B-235.7M1.622.35524,388848,1542,795,4436,367,744
2023-03-23$170.43$184.0028.0%8.1%26.1%49.0%30.1%7.3%-0.5%-2.04B36.93B-238.2M3.572.02392,6951,403,6982,932,0806,459,802
2023-03-24$171.62$184.0026.7%7.7%26.3%41.3%29.3%7.2%-0.5%-1.89B33.39B-248.1M1.851.29483,909897,2703,091,4186,738,207
2023-03-27$174.09$182.0025.2%7.3%26.9%32.7%28.6%6.5%0.3%-1.66B26.22B-251.9M1.811.49316,047571,3763,010,4256,685,555
2023-03-28$173.19$182.0024.9%7.2%26.7%31.2%26.2%6.1%0.3%-1.87B27.52B-252.3M2.221.52234,332521,2653,032,5226,798,962
2023-03-29$175.38$181.0023.7%6.9%27.4%23.8%25.1%6.0%0.6%-1.63B21.99B-255.8M3.691.80240,843887,5853,091,0996,944,451
2023-03-30$175.01$181.0022.7%6.5%27.3%18.2%24.8%5.8%0.6%-1.91B23.75B-259.7M1.221.48406,617497,5233,097,9647,164,328
2023-03-31$177.75$181.0022.4%6.3%27.5%16.2%24.2%5.1%0.7%-1.31B16.14B-264.3M2.231.47350,677782,5713,245,7077,395,953