KWEB Options History — January 2022

In January 2022, KWEB traded between $33.69 and $38.87. ATM implied volatility averaged 52.5%, placing in the 64.3% IV rank vs the trailing year. The 30-day expected move averaged 15.3%. IV traded below realized volatility by 14.9% (HV 20d: 67.4%). Max pain ranged from $37.42 to $39.42. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.32.

Notable Days

2022-01-18: Highest Volume — 189,733 contracts
2022-01-24: Largest IV spike — 8.0% change
2022-01-24: Highest IV Rank — 80.8%
2022-01-24: Largest Expected Move — 17.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$36.18	$33.69	$38.87	$36.26	$37.12
Max Pain	$38.54	$37.42	$39.42	$39.42	$37.42
ATM IV	52.5%	48.9%	59.1%	49.8%	54.9%
Expected Move	15.3%	14.1%	17.6%	14.5%	16.6%
HV 20d	67.4%	49.8%	73.3%	66.3%	60.9%
HV 60d	53.4%	50.7%	57.0%	50.7%	57.0%
IV Rank	64.3%	55.2%	80.8%	57.4%	70.3%
IV Percentile	93.6%	84.1%	99.2%	90.1%	96.8%
Term Structure	-0.3%	-1.5%	0.7%	0.4%	-1.0%
VWIV	53.3%	49.5%	61.5%	51.2%	57.7%
Skew 25d	3.0%	1.1%	5.6%	3.1%	3.7%
Skew 10d	5.5%	1.5%	12.3%	4.8%	7.8%
Call IV 25d	51.6%	48.7%	56.9%	48.7%	53.4%
Put IV 25d	54.6%	50.0%	62.5%	51.9%	57.0%
Bid-Ask Spread %	3.96	2.05	8.89	3.77	2.41
Gamma HHI	0.07	0.03	0.12	0.08	0.04
Net GEX	21.9M	4.6M	42.1M	13.9M	24.1M
Net DEX	-182.3M	-667.3M	283.0M	33.6M	-479.5M
Net VEX	-6.1M	-7.3M	-4.3M	-5.0M	-7.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.32	0.15	0.59	0.28	0.16
Total Volume	104,566.8	53,241	189,733	58,348	164,108
Total OI	1,478,508.55	1,247,720	1,739,373	1,324,194	1,267,477

Daily Data (20 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
2022-01-03	$36.26	$39.42	49.8%	14.5%	66.3%	57.4%	51.2%	3.1%	0.4%	13.9M	33.6M	-5.0M	0.28	3.77	45,742	12,606	1,004,467	319,727
2022-01-04	$34.76	$39.42	50.0%	14.6%	65.9%	57.9%	51.5%	2.1%	0.6%	8.1M	201.9M	-4.5M	0.21	3.66	80,424	16,617	1,026,230	325,764
2022-01-05	$33.69	$38.92	49.3%	14.6%	63.0%	56.4%	51.9%	2.1%	0.4%	4.6M	283.0M	-4.3M	0.35	8.89	75,900	26,399	1,077,962	329,859
2022-01-06	$35.16	$39.42	49.7%	14.3%	65.8%	57.3%	49.5%	1.7%	0.2%	11.5M	98.4M	-4.9M	0.30	8.42	103,415	31,207	1,093,625	341,779
2022-01-07	$36.16	$39.42	50.2%	14.5%	67.2%	58.5%	50.1%	1.2%	0.3%	21.1M	-92.9M	-5.8M	0.15	2.05	133,147	19,986	1,136,445	354,040
2022-01-10	$36.30	$38.42	51.3%	14.7%	67.1%	61.3%	50.5%	2.4%	0.1%	21.4M	-133.6M	-6.0M	0.17	8.59	93,453	16,253	1,180,451	346,362
2022-01-11	$38.26	$38.42	50.5%	14.4%	70.1%	59.3%	50.4%	1.1%	-0.0%	31.9M	-499.9M	-6.8M	0.19	2.14	107,781	20,298	1,210,881	351,281
2022-01-12	$38.87	$38.42	48.9%	14.1%	70.4%	55.2%	49.5%	1.2%	0.3%	39.5M	-667.3M	-7.2M	0.16	2.26	111,619	18,021	1,256,653	354,883
2022-01-13	$36.59	$38.42	50.0%	14.4%	72.8%	58.2%	50.2%	1.6%	0.7%	25.7M	-207.4M	-6.4M	0.39	2.69	68,165	26,551	1,275,498	358,462
2022-01-14	$37.13	$38.42	50.0%	14.4%	73.0%	58.0%	50.2%	1.9%	0.5%	27.5M	-296.2M	-6.7M	0.35	2.31	51,298	18,125	1,293,265	367,554
2022-01-18	$36.38	$38.42	53.0%	15.2%	73.3%	65.6%	53.0%	2.8%	-1.5%	24.1M	-118.9M	-6.2M	0.33	2.34	142,553	47,180	1,266,249	356,985
2022-01-19	$36.94	$38.42	52.0%	14.9%	71.1%	63.2%	52.0%	2.8%	-0.9%	32.7M	-247.4M	-6.8M	0.51	2.30	72,442	37,036	1,332,470	393,491
2022-01-20	$38.42	$38.42	51.7%	14.9%	68.9%	62.3%	52.7%	3.0%	-0.9%	42.1M	-585.2M	-7.3M	0.32	4.34	83,606	26,490	1,340,848	398,525
2022-01-21	$37.03	$38.42	54.7%	15.7%	69.8%	69.8%	55.1%	4.4%	-0.3%	38.0M	-191.8M	-6.7M	0.45	4.65	61,700	27,838	1,331,250	402,237
2022-01-24	$35.97	$38.42	59.1%	17.6%	70.4%	80.8%	61.5%	5.6%	-1.3%	19.4M	-283.3M	-6.3M	0.59	7.49	33,381	19,860	969,779	277,941
2022-01-25	$36.10	$38.42	57.0%	16.9%	70.5%	75.7%	57.9%	5.0%	-1.0%	18.5M	-276.4M	-6.3M	0.18	3.16	72,529	13,230	981,122	289,296
2022-01-26	$34.87	$38.42	57.0%	17.1%	71.3%	75.6%	58.5%	5.0%	-1.3%	14.3M	-155.3M	-6.1M	0.51	3.12	35,573	18,020	1,003,803	292,628
2022-01-27	$33.78	$38.42	56.7%	17.1%	59.7%	75.0%	59.0%	4.6%	-1.0%	9.8M	-21.8M	-5.7M	0.48	2.16	48,150	23,012	1,014,732	302,075
2022-01-28	$33.78	$37.42	54.1%	16.0%	49.8%	68.3%	53.9%	4.1%	-0.2%	10.7M	-5.4M	-5.7M	0.32	2.37	66,541	21,080	1,033,970	310,105
2022-01-31	$37.12	$37.42	54.9%	16.6%	60.9%	70.3%	57.7%	3.7%	-1.0%	24.1M	-479.5M	-7.2M	0.16	2.41	141,597	22,511	963,968	303,509