KWEB Options History — February 2021

In February 2021, KWEB traded between $90.19 and $103.67. ATM implied volatility averaged 38.3%, placing in the 22.6% IV rank vs the trailing year. The 30-day expected move averaged 11.2%. IV traded above realized volatility by 2.9% (HV 20d: 35.4%). Max pain ranged from $80.00 to $100.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 1.48.

Notable Days

2021-02-22: Highest Volume — 25,807 contracts
2021-02-10: Largest IV spike — 12.7% change
2021-02-25: Highest IV Rank — 32.2%
2021-02-25: Largest Expected Move — 13.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$96.87	$90.19	$103.67	$90.41	$90.19
Max Pain	$91.84	$80.00	$100.00	$80.00	$95.00
ATM IV	38.3%	30.7%	46.1%	39.5%	43.8%
Expected Move	11.2%	9.7%	13.2%	11.3%	12.6%
HV 20d	35.4%	28.9%	42.0%	41.8%	36.3%
HV 60d	34.6%	32.4%	37.8%	37.8%	35.3%
IV Rank	22.6%	11.5%	32.2%	25.8%	28.3%
IV Percentile	59.6%	9.9%	90.1%	71.8%	86.1%
Term Structure	-0.8%	-3.6%	2.8%	0.6%	-3.0%
VWIV	40.1%	35.0%	46.2%	41.2%	43.6%
Skew 25d	3.2%	0.8%	5.9%	5.9%	5.3%
Skew 10d	6.9%	3.1%	11.1%	11.1%	10.4%
Call IV 25d	38.4%	34.1%	44.7%	37.4%	42.1%
Put IV 25d	41.5%	36.1%	50.1%	43.3%	47.4%
Bid-Ask Spread %	35.30	24.34	44.64	44.57	27.59
Gamma HHI	0.12	0.06	0.21	0.08	0.06
Net GEX	1.4M	-2.3M	4.1M	2.1M	-1.2M
Net DEX	-173.5M	-267.9M	-27.3M	-151.9M	-27.3M
Net VEX	-1.0M	-1.3M	-713.2K	-796.4K	-1.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.48	0.13	9.60	0.48	0.75
Total Volume	8,444.632	1,104	25,807	4,648	3,946
Total OI	90,054.211	73,616	126,103	75,268	90,453

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
2021-02-01	$90.41	$80.00	39.5%	11.3%	41.8%	25.8%	41.2%	5.9%	0.6%	2.1M	-151.9M	-796.4K	0.48	44.57	3,141	1,507	33,561	41,707
2021-02-02	$92.58	$80.00	36.3%	10.4%	42.0%	20.7%	37.9%	4.5%	2.1%	2.1M	-170.2M	-765.9K	0.24	33.00	1,442	339	33,056	41,830
2021-02-03	$93.85	$80.00	34.2%	9.8%	40.6%	17.2%	35.5%	3.0%	2.8%	2.0M	-181.9M	-748.0K	0.33	40.05	1,680	549	32,479	41,758
2021-02-04	$94.32	$86.00	33.6%	10.6%	38.9%	16.3%	37.2%	3.8%	-0.6%	2.1M	-185.0M	-713.2K	2.03	24.34	994	2,017	32,217	41,399
2021-02-05	$95.62	$86.00	31.6%	10.3%	38.9%	12.9%	35.2%	3.0%	0.1%	1.6M	-187.9M	-714.5K	0.13	28.78	9,461	1,251	31,913	42,439
2021-02-08	$95.53	$87.00	31.7%	10.2%	36.2%	13.1%	36.5%	2.6%	0.0%	2.3M	-208.1M	-899.2K	0.63	36.66	677	427	39,583	43,088
2021-02-09	$97.82	$89.00	30.7%	9.7%	33.4%	11.5%	35.0%	1.8%	0.7%	2.8M	-217.2M	-921.5K	1.02	28.29	962	979	39,300	43,410
2021-02-10	$99.73	$90.00	34.6%	9.9%	33.4%	17.8%	35.5%	1.4%	0.5%	2.9M	-235.0M	-908.9K	0.23	44.64	4,290	990	39,026	43,874
2021-02-11	$102.22	$90.00	35.8%	10.3%	33.7%	19.8%	36.5%	0.8%	0.2%	4.1M	-267.9M	-902.9K	0.32	38.14	2,692	858	40,267	44,585
2021-02-12	$102.13	$92.00	37.7%	10.8%	34.0%	22.9%	40.5%	1.6%	-0.4%	4.1M	-267.8M	-912.9K	9.60	38.73	1,812	17,389	41,290	45,086
2021-02-16	$103.49	$95.00	41.6%	11.9%	32.6%	29.3%	42.8%	2.5%	-2.5%	664.6K	-246.8M	-1.1M	0.75	39.81	10,539	7,894	42,121	61,888
2021-02-17	$103.67	$100.00	41.9%	12.0%	29.9%	29.7%	43.8%	2.7%	-2.1%	1.3M	-257.4M	-1.2M	0.93	36.07	5,801	5,402	50,055	68,576
2021-02-18	$100.81	$100.00	39.9%	11.4%	28.9%	26.4%	41.1%	2.4%	-0.6%	734.2K	-211.1M	-1.3M	1.18	39.50	7,822	9,213	53,247	72,856
2021-02-19	$101.79	$100.00	38.0%	10.9%	28.9%	21.6%	38.4%	2.7%	-1.1%	1.4M	-235.5M	-1.3M	0.28	42.80	5,494	1,536	54,692	69,127
2021-02-22	$96.58	$100.00	42.5%	12.2%	35.5%	26.7%	43.4%	4.0%	-3.2%	-2.3M	-61.3M	-1.3M	4.65	36.29	4,571	21,236	43,850	49,789
2021-02-23	$96.12	$100.00	43.8%	12.6%	34.6%	28.3%	45.9%	2.9%	-2.7%	-112.5K	-84.7M	-1.2M	3.72	29.06	2,450	9,125	43,837	44,311
2021-02-24	$93.08	$100.00	43.9%	12.6%	36.3%	28.5%	45.7%	3.7%	-2.2%	-15.5K	-61.5M	-1.2M	0.60	27.15	5,655	3,413	44,262	40,201
2021-02-25	$90.64	$95.00	46.1%	13.2%	36.4%	32.2%	46.2%	5.4%	-3.6%	-510.0K	-37.4M	-1.2M	0.31	35.30	2,210	684	47,686	42,211
2021-02-26	$90.19	$95.00	43.8%	12.6%	36.3%	28.3%	43.6%	5.3%	-3.0%	-1.2M	-27.3M	-1.2M	0.75	27.59	2,257	1,689	47,752	42,701