KWEB Options History — January 2021

In January 2021, KWEB traded between $76.62 and $92.67. ATM implied volatility averaged 37.1%, placing in the 23.1% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded below realized volatility by 2.0% (HV 20d: 39.1%). Max pain ranged from $72.00 to $80.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.93.

Notable Days

2021-01-25: Highest Volume — 9,979 contracts
2021-01-13: Largest IV drop — 24.9% change
2021-01-27: Highest IV Rank — 34.5%
2021-01-27: Largest Expected Move — 12.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$84.18	$76.62	$92.67	$76.62	$86.88
Max Pain	$74.11	$72.00	$80.00	$72.00	$80.00
ATM IV	37.1%	29.2%	44.8%	39.7%	42.8%
Expected Move	10.1%	8.4%	12.8%	9.8%	12.3%
HV 20d	39.1%	29.7%	44.9%	29.7%	40.7%
HV 60d	35.0%	31.5%	37.1%	31.5%	37.1%
IV Rank	23.1%	10.0%	34.5%	29.1%	31.2%
IV Percentile	57.5%	10.7%	88.5%	76.6%	85.3%
Term Structure	0.1%	-1.7%	1.6%	-1.0%	-0.4%
VWIV	36.7%	32.0%	48.7%	38.5%	43.5%
Skew 25d	3.8%	1.3%	7.4%	4.7%	6.5%
Skew 10d	8.8%	3.8%	17.5%	9.9%	11.6%
Call IV 25d	34.1%	30.9%	42.3%	32.5%	39.5%
Put IV 25d	38.0%	33.2%	49.7%	37.2%	45.9%
Bid-Ask Spread %	39.03	19.82	66.21	35.55	50.02
Gamma HHI	0.13	0.07	0.39	0.10	0.07
Net GEX	4.5M	-778.8K	12.1M	-778.8K	1.7M
Net DEX	-149.3M	-193.9M	-75.8M	-75.8M	-109.3M
Net VEX	-778.7K	-897.4K	-686.0K	-897.4K	-859.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.93	0.08	4.23	4.23	0.77
Total Volume	3,574.842	1,165	9,979	2,950	1,739
Total OI	100,383.737	62,099	131,215	127,168	75,274

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
2021-01-04	$76.62	$72.00	39.7%	9.8%	29.7%	29.1%	38.5%	4.7%	-1.0%	-778.8K	-75.8M	-897.4K	4.23	35.55	564	2,386	44,440	82,728
2021-01-05	$79.70	$72.00	37.4%	9.5%	32.6%	25.5%	36.6%	4.8%	-0.7%	3.6M	-143.7M	-850.5K	1.14	32.31	3,182	3,631	44,026	84,776
2021-01-06	$77.91	$72.00	40.8%	9.9%	33.8%	30.9%	35.4%	4.9%	-0.8%	209.6K	-89.3M	-890.7K	0.35	43.52	2,073	733	44,021	87,194
2021-01-07	$78.42	$72.00	37.9%	9.6%	33.5%	26.2%	35.2%	4.6%	-0.6%	2.1M	-108.3M	-835.5K	0.61	26.21	747	459	43,695	85,222
2021-01-08	$82.40	$72.00	35.5%	9.4%	37.0%	22.6%	33.2%	4.3%	-0.2%	6.6M	-193.9M	-770.4K	0.21	43.44	3,444	738	43,660	85,246
2021-01-11	$79.82	$72.00	39.9%	9.6%	38.6%	29.3%	34.1%	3.5%	-0.4%	7.0M	-149.5M	-758.8K	0.83	34.15	959	793	43,763	85,639
2021-01-12	$79.83	$72.00	38.9%	9.6%	38.3%	25.6%	35.5%	3.0%	-0.4%	8.1M	-150.2M	-759.1K	0.99	44.15	879	873	43,787	86,008
2021-01-13	$80.65	$72.00	29.2%	8.4%	38.2%	10.0%	33.6%	3.1%	0.1%	9.5M	-168.7M	-724.4K	0.68	66.21	695	470	43,404	86,314
2021-01-14	$81.85	$72.00	31.4%	9.0%	38.3%	13.5%	32.0%	2.1%	1.6%	8.9M	-192.4M	-721.3K	0.08	51.18	4,571	348	43,255	86,526
2021-01-15	$80.68	$73.00	31.7%	9.1%	38.7%	13.9%	32.4%	2.2%	1.4%	12.1M	-176.6M	-737.9K	0.12	50.56	4,106	501	44,369	86,677
2021-01-19	$84.68	$73.00	32.0%	9.2%	41.9%	14.5%	32.9%	1.7%	1.5%	4.3M	-132.2M	-719.9K	0.39	39.45	2,281	886	30,919	31,180
2021-01-20	$89.02	$74.00	33.6%	9.6%	44.9%	16.2%	34.1%	1.3%	1.3%	4.3M	-175.5M	-686.0K	0.73	19.82	3,102	2,275	31,754	31,855
2021-01-21	$89.09	$75.00	33.9%	9.7%	44.6%	16.7%	34.5%	1.7%	1.4%	3.9M	-168.9M	-720.9K	0.20	29.02	2,015	408	32,175	32,932
2021-01-22	$90.32	$75.00	35.7%	10.2%	43.6%	19.7%	36.1%	3.0%	0.4%	3.8M	-178.6M	-724.0K	0.44	30.06	2,282	996	32,417	33,082
2021-01-25	$92.67	$75.00	39.6%	11.4%	43.9%	26.1%	39.7%	4.3%	-0.5%	3.2M	-188.5M	-712.0K	0.73	22.79	5,758	4,221	31,813	33,799
2021-01-26	$91.40	$77.00	39.3%	11.3%	41.9%	25.5%	40.7%	4.7%	0.2%	3.0M	-169.5M	-746.6K	0.80	21.85	956	767	32,962	36,783
2021-01-27	$89.15	$78.00	44.8%	12.8%	41.6%	34.5%	48.7%	7.4%	-1.7%	2.6M	-141.6M	-830.8K	4.08	46.27	1,128	4,605	33,314	37,388
2021-01-28	$88.34	$80.00	40.8%	11.7%	40.9%	27.9%	40.9%	5.2%	0.3%	1.7M	-123.6M	-849.3K	0.27	54.98	1,857	494	33,258	41,636
2021-01-29	$86.88	$80.00	42.8%	12.3%	40.7%	31.2%	43.5%	6.5%	-0.4%	1.7M	-109.3M	-859.9K	0.77	50.02	982	757	33,597	41,677