KWEB Options History — February 2019

In February 2019, KWEB traded between $42.81 and $47.42. ATM implied volatility averaged 32.7%, placing in the 41.1% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded above realized volatility by 3.6% (HV 20d: 29.2%). Max pain ranged from $42.00 to $44.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 0.70.

Notable Days

2019-02-25: Highest Volume — 15,352 contracts
2019-02-06: Largest IV spike — 9.4% change
2019-02-07: Highest IV Rank — 49.0%
2019-02-07: Largest Expected Move — 10.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.82	$42.81	$47.42	$43.41	$46.76
Max Pain	$43.58	$42.00	$44.00	$42.00	$44.00
ATM IV	32.7%	30.2%	35.5%	30.2%	32.9%
Expected Move	9.5%	9.0%	10.2%	9.9%	9.4%
HV 20d	29.2%	24.4%	35.2%	35.2%	27.8%
HV 60d	35.0%	32.6%	38.3%	38.3%	32.8%
IV Rank	41.1%	34.0%	49.0%	34.0%	41.4%
IV Percentile	60.9%	47.6%	71.4%	47.6%	61.9%
Term Structure	-0.9%	-2.7%	0.7%	-0.4%	-0.9%
VWIV	33.4%	31.3%	39.6%	39.6%	33.4%
Skew 25d	3.9%	1.3%	5.7%	4.7%	2.4%
Skew 10d	8.7%	4.1%	11.8%	9.2%	6.3%
Call IV 25d	31.7%	29.9%	33.7%	32.3%	32.0%
Put IV 25d	35.6%	33.5%	38.5%	37.1%	34.5%
Bid-Ask Spread %	16.53	12.07	19.80	15.63	17.65
Gamma HHI	0.10	0.06	0.24	0.06	0.10
Net GEX	2.2M	-827.4K	3.5M	1.9M	3.5M
Net DEX	-61.4M	-78.3M	-40.2M	-50.9M	-68.7M
Net VEX	-277.5K	-297.5K	-251.3K	-297.4K	-293.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.70	0.08	3.20	1.48	0.15
Total Volume	4,261.474	651	15,352	4,972	6,995
Total OI	74,474.526	42,810	97,414	88,998	53,417

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2019-02-01	$43.41	$42.00	30.2%	9.9%	35.2%	34.0%	39.6%	4.7%	-0.4%	1.9M	-50.9M	-297.4K	1.48	15.63	2,002	2,970	50,241	38,757
2019-02-04	$43.75	$43.00	31.7%	9.7%	29.8%	38.1%	34.3%	4.3%	-1.0%	2.5M	-60.1M	-284.9K	3.20	16.93	784	2,512	51,167	39,004
2019-02-05	$44.81	$43.00	31.2%	9.5%	29.8%	36.6%	33.2%	5.4%	-0.4%	3.1M	-76.5M	-293.7K	2.60	16.56	1,706	4,440	51,269	41,023
2019-02-06	$44.09	$44.00	34.1%	9.8%	30.9%	44.9%	33.7%	4.3%	-0.9%	2.5M	-65.7M	-296.5K	0.17	14.32	1,361	225	51,676	41,816
2019-02-07	$42.81	$44.00	35.5%	10.2%	31.4%	49.0%	35.4%	4.9%	-1.0%	1.6M	-42.1M	-287.7K	1.79	15.01	1,297	2,324	52,270	42,016
2019-02-08	$43.26	$43.00	35.0%	10.0%	31.6%	47.6%	34.5%	5.7%	-0.9%	1.4M	-46.3M	-297.5K	0.68	16.28	1,255	858	52,407	43,523
2019-02-11	$43.98	$43.00	33.7%	9.7%	31.0%	43.7%	33.6%	4.7%	-0.5%	1.9M	-61.3M	-281.7K	0.22	17.81	639	140	52,508	43,703
2019-02-12	$44.58	$43.00	31.3%	9.0%	29.1%	37.1%	31.4%	5.0%	0.7%	2.5M	-74.4M	-273.4K	0.08	19.01	2,355	186	52,838	43,685
2019-02-13	$44.52	$43.00	32.0%	9.2%	29.2%	39.1%	31.9%	3.6%	-0.4%	2.5M	-77.0M	-261.7K	0.22	18.53	2,014	438	53,259	43,771
2019-02-14	$44.72	$44.00	31.9%	9.1%	28.6%	38.7%	32.4%	4.5%	0.0%	2.7M	-78.3M	-272.7K	0.17	18.30	2,852	489	53,388	44,026
2019-02-15	$43.97	$44.00	32.4%	9.3%	29.6%	40.2%	32.3%	3.8%	-0.2%	-827.4K	-68.7M	-258.1K	0.31	12.30	4,626	1,439	52,791	44,024
2019-02-19	$44.57	$44.00	32.6%	9.3%	28.9%	40.5%	32.5%	4.2%	-0.7%	1.7M	-43.0M	-257.2K	0.54	12.07	422	229	25,501	17,309
2019-02-20	$44.91	$44.00	32.2%	9.2%	24.4%	39.4%	32.3%	3.5%	-0.9%	1.9M	-46.5M	-258.4K	0.52	19.80	1,200	626	25,619	17,465
2019-02-21	$44.26	$44.00	32.2%	9.2%	25.3%	39.5%	31.4%	3.7%	-1.6%	1.6M	-40.2M	-251.3K	0.43	18.86	1,255	539	25,394	17,779
2019-02-22	$45.98	$44.00	31.6%	9.0%	27.8%	37.7%	31.3%	3.6%	-1.6%	2.3M	-55.1M	-263.8K	0.28	16.97	2,162	609	25,568	17,811
2019-02-25	$47.42	$44.00	33.9%	9.7%	27.8%	44.2%	33.1%	1.3%	-2.7%	2.5M	-70.1M	-251.7K	0.08	16.41	14,157	1,195	25,854	17,897
2019-02-26	$46.90	$44.00	33.9%	9.7%	27.9%	44.5%	34.5%	2.1%	-2.2%	3.3M	-70.7M	-295.7K	0.15	14.97	6,719	998	34,181	18,634
2019-02-27	$46.90	$44.00	33.7%	9.7%	27.8%	43.8%	34.5%	2.8%	-1.7%	3.5M	-71.4M	-295.6K	0.15	16.75	6,051	899	34,646	18,779
2019-02-28	$46.76	$44.00	32.9%	9.4%	27.8%	41.4%	33.4%	2.4%	-0.9%	3.5M	-68.7M	-293.9K	0.15	17.65	6,100	895	34,593	18,824