KWEB Options History — March 2021

In March 2021, KWEB traded between $74.08 and $93.49. ATM implied volatility averaged 45.1%, placing in the 42.0% IV rank vs the trailing year. The 30-day expected move averaged 12.7%. IV traded below realized volatility by 8.4% (HV 20d: 53.5%). Max pain ranged from $76.00 to $95.00. Net GEX was positive for 1 of 23 trading days. Term structure was in contango for 0 of 23 days. Put/call ratio averaged 2.84.

Notable Days

2021-03-26: Highest Volume — 130,588 contracts
2021-03-08: Largest IV spike — 29.6% change
2021-03-26: Highest IV Rank — 87.2%
2021-03-26: Largest Expected Move — 15.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$82.75	$74.08	$93.49	$93.49	$76.45
Max Pain	$85.04	$76.00	$95.00	$95.00	$76.00
ATM IV	45.1%	40.6%	53.5%	41.9%	43.8%
Expected Move	12.7%	11.1%	15.3%	12.0%	12.5%
HV 20d	53.5%	35.9%	62.3%	37.7%	61.1%
HV 60d	44.3%	35.8%	49.3%	35.8%	48.2%
IV Rank	42.0%	23.5%	87.2%	24.9%	60.2%
IV Percentile	86.0%	74.6%	98.8%	80.6%	88.9%
Term Structure	-3.6%	-9.4%	-0.7%	-2.8%	-4.0%
VWIV	45.9%	38.7%	57.2%	41.9%	44.6%
Skew 25d	5.0%	1.7%	11.5%	3.8%	1.9%
Skew 10d	10.5%	4.9%	21.7%	7.3%	4.9%
Call IV 25d	42.9%	37.9%	53.8%	40.7%	44.2%
Put IV 25d	47.9%	41.0%	58.7%	44.4%	46.1%
Bid-Ask Spread %	36.17	10.21	62.16	46.14	34.02
Gamma HHI	0.12	0.05	0.63	0.07	0.11
Net GEX	-5.3M	-32.5M	12.9K	12.9K	-2.3M
Net DEX	47.6M	-71.3M	154.2M	-71.3M	33.2M
Net VEX	-1.4M	-2.1M	-967.9K	-1.2M	-2.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.84	0.12	13.79	0.12	0.36
Total Volume	21,251.826	1,696	130,588	4,254	7,801
Total OI	140,407.13	92,034	249,758	92,034	249,758

Daily Data (23 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
2021-03-01	$93.49	$95.00	41.9%	12.0%	37.7%	24.9%	41.9%	3.8%	-2.8%	12.9K	-71.3M	-1.2M	0.12	46.14	3,786	468	48,838	43,196
2021-03-02	$91.78	$95.00	41.1%	11.8%	35.9%	23.5%	42.0%	3.4%	-2.5%	-532.6K	-54.1M	-1.2M	0.22	32.45	3,941	877	50,841	43,303
2021-03-03	$89.22	$95.00	41.1%	11.8%	36.3%	23.6%	41.9%	3.4%	-2.8%	-1.9M	-17.5M	-1.1M	0.35	13.36	2,549	894	50,230	43,993
2021-03-04	$85.04	$90.00	45.1%	12.0%	39.2%	30.5%	40.5%	5.1%	-1.5%	-2.3M	32.6M	-1.1M	0.82	42.06	1,977	1,614	50,724	44,345
2021-03-05	$84.63	$90.00	41.3%	11.1%	39.1%	24.0%	38.7%	3.1%	-0.7%	-2.5M	39.3M	-1.1M	1.11	37.22	5,218	5,767	51,155	44,305
2021-03-08	$78.53	$85.00	53.5%	12.7%	45.4%	45.1%	47.8%	6.2%	-2.0%	-1.7M	90.0M	-967.9K	4.99	57.79	5,077	25,354	51,938	45,124
2021-03-09	$84.60	$85.00	50.0%	12.3%	54.4%	39.0%	42.1%	5.2%	-2.1%	-4.5M	42.3M	-1.2M	1.70	20.36	5,497	9,326	54,670	67,404
2021-03-10	$82.11	$85.00	44.9%	12.9%	53.8%	30.3%	51.2%	5.6%	-3.5%	-5.8M	89.3M	-1.3M	5.61	25.98	1,905	10,685	57,655	74,911
2021-03-11	$87.36	$85.00	43.1%	12.3%	58.7%	27.0%	49.1%	5.0%	-2.5%	-3.8M	-4.4M	-1.4M	2.94	37.50	4,274	12,553	58,166	83,383
2021-03-12	$84.42	$85.00	43.6%	12.5%	58.2%	28.0%	43.4%	4.9%	-1.8%	-5.6M	54.6M	-1.3M	1.02	41.80	1,702	1,735	60,892	80,900
2021-03-15	$84.51	$85.00	43.4%	12.4%	58.3%	27.6%	43.6%	5.3%	-2.4%	-5.2M	50.1M	-1.3M	0.82	40.04	1,131	923	61,867	81,825
2021-03-16	$85.57	$85.00	41.3%	11.8%	58.2%	23.9%	41.5%	4.0%	-1.7%	-4.8M	27.7M	-1.3M	0.41	40.55	5,004	2,036	62,017	81,925
2021-03-17	$85.51	$85.00	42.1%	12.1%	58.2%	25.3%	47.4%	11.5%	-2.4%	-4.2M	26.6M	-1.3M	11.12	40.04	1,554	17,274	65,599	81,878
2021-03-18	$83.65	$85.00	41.9%	12.0%	58.0%	25.0%	42.4%	5.4%	-2.5%	-6.9M	90.4M	-1.3M	0.46	30.92	1,159	537	65,324	95,253
2021-03-19	$84.97	$85.00	41.5%	11.9%	58.3%	26.9%	42.9%	5.0%	-2.2%	-32.5M	35.1M	-1.3M	0.94	17.26	2,049	1,932	65,386	92,278
2021-03-22	$84.17	$85.00	40.6%	11.6%	56.0%	35.3%	44.8%	5.0%	-1.5%	-2.3M	-5.8M	-1.3M	2.73	34.73	3,409	9,294	47,233	59,733
2021-03-23	$82.10	$85.00	40.6%	11.7%	56.3%	35.4%	40.2%	4.7%	-2.5%	-5.0M	37.8M	-1.3M	0.60	37.15	2,971	1,782	49,926	67,849
2021-03-24	$75.33	$85.00	51.6%	14.8%	62.3%	80.8%	54.3%	10.6%	-8.3%	-6.9M	146.5M	-1.3M	12.75	62.16	5,769	73,541	51,417	69,235
2021-03-25	$74.69	$80.00	50.9%	14.6%	62.1%	78.6%	57.2%	7.4%	-7.9%	-8.9M	154.2M	-1.5M	13.79	51.32	5,181	71,426	54,811	88,517
2021-03-26	$74.94	$78.00	53.5%	15.3%	62.2%	87.2%	56.9%	1.7%	-9.4%	-7.4M	123.8M	-1.6M	1.51	52.60	52,094	78,494	62,644	101,108
2021-03-29	$74.08	$76.00	53.1%	15.2%	59.9%	86.1%	52.7%	3.6%	-8.4%	-4.2M	119.1M	-1.8M	0.73	26.24	13,658	9,960	109,246	118,894
2021-03-30	$76.08	$76.00	48.3%	13.8%	61.3%	77.0%	49.2%	2.8%	-6.6%	-3.2M	55.6M	-2.0M	0.31	10.21	11,127	3,487	114,330	125,338
2021-03-31	$76.45	$76.00	43.8%	12.5%	61.1%	60.2%	44.6%	1.9%	-4.0%	-2.3M	33.2M	-2.1M	0.36	34.02	5,719	2,082	121,550	128,208