KWEB Options History — December 2022

In December 2022, KWEB traded between $28.06 and $31.43. ATM implied volatility averaged 55.5%, placing in the 21.3% IV rank vs the trailing year. The 30-day expected move averaged 15.9%. IV traded below realized volatility by 4.7% (HV 20d: 60.3%). Max pain ranged from $25.00 to $27.42. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.64.

Notable Days

2022-12-02: Highest Volume — 372,518 contracts
2022-12-13: Largest IV drop — 6.2% change
2022-12-06: Highest IV Rank — 33.7%
2022-12-02: Largest Expected Move — 18.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$30.29	$28.06	$31.43	$28.06	$30.29
Max Pain	$26.35	$25.00	$27.42	$25.00	$27.42
ATM IV	55.5%	48.9%	62.4%	60.3%	53.6%
Expected Move	15.9%	14.0%	18.7%	18.4%	15.6%
HV 20d	60.3%	47.6%	76.4%	74.7%	48.1%
HV 60d	70.0%	69.1%	70.6%	69.7%	70.2%
IV Rank	21.3%	9.2%	33.7%	29.9%	17.8%
IV Percentile	39.1%	10.3%	67.1%	57.1%	32.9%
Term Structure	-0.3%	-2.7%	1.3%	-1.2%	1.0%
VWIV	56.6%	50.3%	67.3%	66.3%	55.0%
Skew 25d	0.6%	-5.2%	2.3%	-3.1%	1.4%
Skew 10d	1.8%	-6.2%	5.3%	-5.4%	3.3%
Call IV 25d	56.0%	48.9%	65.6%	63.4%	53.3%
Put IV 25d	56.6%	50.2%	62.2%	60.3%	54.7%
Bid-Ask Spread %	10.25	1.79	24.26	3.98	2.36
Gamma HHI	0.08	0.07	0.10	0.08	0.08
Net GEX	38.4M	25.5M	51.6M	40.3M	25.8M
Net DEX	-1.45B	-2.08B	-956.6M	-1.22B	-1.08B
Net VEX	-7.6M	-8.4M	-6.8M	-6.8M	-7.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.64	0.16	3.41	0.23	1.14
Total Volume	126,411.095	34,346	372,518	171,258	52,133
Total OI	2,106,389.524	1,876,638	2,298,710	1,990,978	2,098,319

Daily Data (21 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
2022-12-01	$28.06	$25.00	60.3%	18.4%	74.7%	29.9%	66.3%	-3.1%	-1.2%	40.3M	-1.22B	-6.8M	0.23	3.98	138,972	32,286	1,492,833	498,145
2022-12-02	$29.86	$25.00	61.0%	18.7%	76.4%	31.1%	67.3%	-5.2%	-2.7%	46.8M	-1.81B	-7.7M	0.16	4.70	321,544	50,974	1,583,659	521,750
2022-12-05	$29.80	$25.00	61.7%	17.2%	73.5%	32.4%	60.3%	-0.4%	-0.6%	45.0M	-1.66B	-7.8M	0.25	2.36	163,982	41,418	1,584,774	506,188
2022-12-06	$30.30	$25.00	62.4%	17.3%	73.3%	33.7%	61.2%	-1.3%	-0.7%	46.1M	-1.75B	-7.9M	0.78	2.30	123,309	96,590	1,568,875	527,540
2022-12-07	$29.80	$25.00	60.7%	17.2%	73.7%	30.5%	61.0%	0.0%	-0.8%	43.6M	-1.61B	-8.2M	0.84	8.05	42,911	36,085	1,628,796	611,009
2022-12-08	$31.38	$26.00	60.3%	16.9%	67.1%	29.9%	59.8%	0.9%	-0.4%	51.6M	-2.08B	-8.4M	0.68	2.39	100,612	68,551	1,627,177	633,495
2022-12-09	$31.13	$26.00	60.6%	16.9%	64.4%	30.4%	60.8%	0.5%	-0.2%	51.1M	-1.96B	-8.4M	0.39	2.27	82,650	31,998	1,631,693	667,017
2022-12-12	$30.20	$26.00	60.3%	16.6%	63.9%	29.9%	59.4%	1.4%	-2.6%	42.7M	-1.61B	-7.9M	0.56	3.64	66,563	37,120	1,614,380	632,513
2022-12-13	$30.84	$26.00	56.6%	16.0%	63.9%	23.2%	57.7%	1.6%	-1.1%	49.3M	-1.79B	-8.0M	0.23	24.26	138,680	32,441	1,636,443	645,191
2022-12-14	$30.86	$26.00	55.7%	15.7%	57.6%	21.6%	56.1%	1.9%	-0.6%	45.2M	-1.77B	-7.9M	0.96	17.86	30,413	29,277	1,611,642	661,246
2022-12-15	$30.02	$27.00	53.2%	15.1%	57.4%	17.0%	55.1%	1.5%	-0.2%	35.7M	-1.49B	-7.5M	0.27	16.35	95,403	25,931	1,620,241	669,575
2022-12-16	$30.24	$27.00	53.0%	15.3%	56.5%	16.7%	54.5%	0.7%	0.7%	35.6M	-1.58B	-7.5M	0.50	17.39	53,302	26,807	1,612,161	679,312
2022-12-19	$30.01	$27.00	51.3%	14.7%	54.6%	13.6%	52.1%	1.4%	0.1%	27.2M	-1.04B	-7.2M	0.66	5.18	26,337	17,292	1,339,036	537,602
2022-12-20	$29.71	$27.00	50.6%	14.5%	52.3%	12.4%	52.3%	1.7%	0.1%	25.5M	-956.6M	-7.0M	0.95	20.26	17,651	16,695	1,341,667	541,580
2022-12-21	$30.84	$27.00	49.5%	14.2%	52.3%	10.5%	50.3%	1.2%	-0.9%	32.6M	-1.24B	-7.2M	0.16	21.01	79,370	12,871	1,343,735	553,854
2022-12-22	$30.63	$27.00	50.6%	14.5%	52.4%	12.4%	51.0%	1.1%	-0.3%	33.6M	-1.19B	-7.2M	0.35	18.16	60,136	20,820	1,393,072	561,523
2022-12-23	$29.86	$27.00	48.9%	14.0%	50.6%	9.2%	50.4%	1.4%	-0.0%	26.4M	-974.4M	-7.0M	0.30	21.95	57,985	17,473	1,437,622	571,785
2022-12-27	$31.43	$27.00	51.5%	15.0%	52.1%	14.0%	52.6%	2.3%	1.2%	37.5M	-1.41B	-7.4M	0.21	17.19	91,556	19,486	1,441,481	546,853
2022-12-28	$29.99	$27.42	52.4%	15.2%	53.2%	15.5%	53.9%	1.6%	1.3%	28.5M	-1.02B	-7.1M	3.41	1.82	41,634	142,094	1,455,508	549,342
2022-12-29	$30.91	$27.42	51.8%	14.7%	47.6%	14.6%	52.3%	2.0%	1.1%	36.9M	-1.25B	-7.6M	0.31	1.79	86,297	26,984	1,490,728	564,818
2022-12-30	$30.29	$27.42	53.6%	15.6%	48.1%	17.8%	55.0%	1.4%	1.0%	25.8M	-1.08B	-7.5M	1.14	2.36	24,392	27,741	1,525,769	572,550