KWEB Options History — February 2020

In February 2020, KWEB traded between $48.21 and $53.41. ATM implied volatility averaged 29.8%, placing in the 45.2% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded below realized volatility by 0.6% (HV 20d: 30.3%). Max pain ranged from $50.00 to $51.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 0 of 19 days. Put/call ratio averaged 1.43.

Notable Days

  • 2020-02-11: Highest Volume — 60,547 contracts
  • 2020-02-28: Largest IV spike — 26.7% change
  • 2020-02-28: Highest IV Rank — 100.0%
  • 2020-02-28: Largest Expected Move — 14.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$51.10$48.21$53.41$49.61$48.21
Max Pain$50.47$50.00$51.00$50.00$51.00
ATM IV29.8%23.6%50.2%31.8%50.2%
Expected Move8.5%6.8%14.4%9.1%14.4%
HV 20d30.3%28.4%31.5%28.4%29.0%
HV 60d25.3%24.4%26.3%24.4%26.3%
IV Rank45.2%28.3%100.0%50.9%100.0%
IV Percentile54.8%13.5%100.0%78.2%100.0%
Term Structure-1.8%-7.9%-0.1%-2.4%-7.9%
VWIV30.5%24.0%45.4%35.4%45.4%
Skew 25d5.4%3.7%13.5%6.0%13.5%
Skew 10d11.7%6.6%26.1%11.7%26.1%
Call IV 25d27.5%22.4%44.3%30.5%44.3%
Put IV 25d32.9%26.3%57.9%36.6%57.9%
Bid-Ask Spread %15.1412.1618.9713.3116.41
Gamma HHI0.130.080.390.100.08
Net GEX5.8M-12.6M18.3M1.5M2.9M
Net DEX-112.3M-259.5M3.3M-33.1M3.3M
Net VEX-1.1M-1.2M-987.2K-1.2M-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.430.088.220.630.22
Total Volume13,422.5793,66360,5476,00719,261
Total OI208,959.105148,847243,201206,806159,007

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-02-03$49.61$50.0031.8%9.1%28.4%50.9%35.4%6.0%-2.4%1.5M-33.1M-1.2M0.6313.313,6902,317113,16093,646
2020-02-04$51.36$50.0030.5%8.7%31.2%47.1%32.0%4.3%-2.1%7.4M-140.5M-1.2M2.0213.265,80811,734115,04393,712
2020-02-05$50.91$51.0028.7%8.2%31.0%42.4%28.7%4.1%-1.5%3.7M-98.2M-1.2M0.6815.116,4794,434112,763101,481
2020-02-06$51.66$50.0027.8%7.6%31.3%40.0%29.2%3.9%-1.1%6.5M-143.2M-1.2M2.1216.903,0116,377116,328105,142
2020-02-07$51.08$50.0027.2%7.7%31.3%38.2%28.7%5.0%-1.0%2.8M-105.4M-1.2M0.2718.973,582963116,879106,098
2020-02-10$51.43$50.0027.0%7.6%31.4%37.6%30.0%4.5%-0.8%4.6M-127.7M-1.1M3.1617.268812,782116,590106,311
2020-02-11$52.15$50.0026.1%7.4%29.9%35.1%25.1%4.2%-0.7%9.3M-183.6M-1.1M0.1116.9454,4266,121116,820108,125
2020-02-12$53.41$50.0024.6%7.0%30.9%30.9%25.3%4.0%-0.4%18.3M-259.5M-1.2M0.0815.336,915542123,206111,912
2020-02-13$52.62$50.0024.9%7.1%31.4%31.8%24.6%4.0%-0.2%13.9M-200.9M-1.2M0.3715.344,8651,793124,643114,145
2020-02-14$52.16$50.0024.7%7.1%31.5%31.3%24.0%3.8%-0.1%9.7M-167.4M-1.1M0.3316.034,2721,427125,814114,518
2020-02-18$51.78$50.0024.8%7.1%31.5%31.6%24.1%3.7%-0.7%4.1M-133.0M-1.0M0.9115.8313,17712,042121,472115,780
2020-02-19$52.57$51.0023.6%6.8%30.5%28.3%34.8%3.9%-0.3%10.3M-166.2M-1.0M8.2212.421,49412,275118,814121,030
2020-02-20$52.01$51.0025.0%7.2%30.6%32.3%24.6%4.0%-0.4%4.3M-138.2M-1.0M1.0812.163,7073,996122,558118,359
2020-02-21$51.24$51.0027.0%7.7%30.5%37.6%26.6%5.0%-1.3%-12.6M-92.8M-1.0M4.0413.811,0184,113122,805120,396
2020-02-24$49.88$51.0031.7%9.1%29.8%50.4%31.1%7.1%-2.2%6.3M-39.1M-987.2K0.4316.648,0123,42493,22455,623
2020-02-25$49.41$51.0035.4%10.1%28.8%60.7%36.3%7.1%-3.4%5.3M-31.0M-1.0M1.7314.183,1865,52291,56757,709
2020-02-26$50.12$51.0035.4%10.2%28.5%60.7%35.4%6.8%-3.9%6.2M-50.3M-1.1M0.5713.504,2652,41493,50361,599
2020-02-27$49.24$51.0039.6%11.4%29.1%72.4%37.5%7.5%-4.9%4.9M-26.6M-1.1M0.2214.3220,1964,50896,62763,814
2020-02-28$48.21$51.0050.2%14.4%29.0%100.0%45.4%13.5%-7.9%2.9M3.3M-1.1M0.2216.4115,8203,44192,72066,287