KWEB Options History — April 2020

In April 2020, KWEB traded between $43.93 and $49.16. ATM implied volatility averaged 40.2%, placing in the 37.4% IV rank vs the trailing year. The 30-day expected move averaged 11.3%. IV traded below realized volatility by 2.8% (HV 20d: 42.9%). Max pain ranged from $47.00 to $48.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 3.51.

Notable Days

  • 2020-04-16: Highest Volume — 22,816 contracts
  • 2020-04-30: Largest IV spike — 12.4% change
  • 2020-04-01: Highest IV Rank — 57.4%
  • 2020-04-01: Largest Expected Move — 15.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$47.19$43.93$49.16$44.23$48.11
Max Pain$47.05$47.00$48.00$48.00$47.00
ATM IV40.2%32.9%54.5%54.5%36.9%
Expected Move11.3%9.4%15.6%15.6%10.6%
HV 20d42.9%28.8%59.7%59.2%29.7%
HV 60d41.6%40.9%42.1%40.9%40.9%
IV Rank37.4%27.2%57.4%57.4%32.9%
IV Percentile85.8%73.8%95.6%95.6%81.3%
Term Structure-3.0%-7.4%0.7%-6.1%-1.5%
VWIV39.9%28.5%55.1%55.1%32.9%
Skew 25d11.9%9.2%17.3%17.3%9.7%
Skew 10d24.0%18.9%34.3%18.9%20.0%
Call IV 25d34.4%29.0%47.3%47.3%32.1%
Put IV 25d46.3%38.1%64.6%64.6%41.8%
Bid-Ask Spread %25.2015.7734.4926.8028.84
Gamma HHI0.070.050.100.060.10
Net GEX2.2M-363.4K4.4M379.5K2.3M
Net DEX5.8M-36.5M57.0M48.7M4.9M
Net VEX-685.3K-744.2K-626.0K-642.0K-626.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.510.0243.551.590.06
Total Volume4,526.47647922,8164,7886,466
Total OI118,311.381109,732130,997109,732116,220

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-04-01$44.23$48.0054.5%15.6%59.2%57.4%55.1%17.3%-6.1%379.5K48.7M-642.0K1.5926.801,8512,93766,14843,584
2020-04-02$44.64$47.0049.4%12.9%59.3%50.2%39.9%14.9%-7.4%230.4K48.7M-661.8K1.4634.492,4843,63767,43546,014
2020-04-03$43.93$47.0049.8%12.7%58.4%50.9%38.9%14.5%-6.6%-363.4K57.0M-636.6K0.2730.463,31290768,77447,915
2020-04-06$45.83$47.0043.9%11.5%59.7%42.6%37.2%13.4%-4.9%818.7K30.0M-687.8K0.3624.741,54755971,93848,469
2020-04-07$46.53$47.0043.2%11.3%59.1%41.6%40.4%13.1%-4.9%1.6M14.7M-712.8K0.2830.583,07984872,57748,384
2020-04-08$45.72$47.0039.6%11.4%58.6%36.6%39.5%13.1%-5.3%623.2K31.6M-676.1K0.8326.501,3261,10373,45349,024
2020-04-09$45.86$47.0039.5%11.3%51.7%36.5%36.9%12.4%-5.6%624.7K29.1M-685.2K0.2721.6473319773,03349,867
2020-04-13$46.22$47.0041.0%11.8%51.6%38.6%47.7%12.8%-6.4%955.4K22.5M-675.1K0.9021.1128325573,01149,900
2020-04-14$47.49$47.0038.1%10.9%44.7%34.5%38.3%11.3%-4.5%2.3M-1.3M-698.5K0.8630.7934029473,00750,074
2020-04-15$47.53$47.0037.6%10.8%43.6%33.8%43.6%11.0%-4.1%2.6M-5.0M-701.8K10.6619.624304,58573,05250,084
2020-04-16$48.74$47.0037.7%10.8%36.1%34.0%36.8%12.4%-3.7%3.4M-25.4M-741.1K0.0227.5622,47234473,35953,441
2020-04-17$48.67$47.0036.0%10.3%35.5%31.6%36.9%11.0%-2.9%3.8M-23.1M-734.4K0.3523.3566423477,59453,403
2020-04-20$49.09$47.0038.8%11.1%35.5%35.5%38.3%10.0%-1.4%4.4M-36.5M-744.2K0.1524.0313,9632,02768,21746,061
2020-04-21$47.89$47.0042.0%12.0%37.2%40.0%41.5%12.2%-1.0%3.1M-8.2M-707.1K0.4426.4063928467,20845,674
2020-04-22$48.76$47.0038.7%11.1%31.2%35.4%37.1%11.1%0.7%4.0M-27.5M-720.2K1.6226.237761,26067,10945,012
2020-04-23$47.90$47.0038.3%11.0%31.5%34.8%48.4%10.5%0.4%2.9M-3.6M-699.1K6.4422.512711,74466,71447,410
2020-04-24$47.78$47.0036.7%10.5%31.2%32.6%28.5%10.9%0.6%2.6M3.5M-685.4K0.5926.6257734366,71449,133
2020-04-27$48.80$47.0033.9%9.7%28.8%28.7%45.7%10.2%0.3%3.6M-15.3M-668.7K43.5517.241446,27166,72349,358
2020-04-28$48.12$47.0035.3%10.1%29.4%30.6%38.4%9.6%0.5%3.0M-2.6M-637.9K1.6215.772,0603,33166,76446,481
2020-04-29$49.16$47.0032.9%9.4%29.7%27.2%36.2%9.2%0.1%3.9M-20.3M-650.3K1.3723.9720227766,84149,360
2020-04-30$48.11$47.0036.9%10.6%29.7%32.9%32.9%9.7%-1.5%2.3M4.9M-626.0K0.0628.846,12733966,83549,385