KWEB Options History — March 2023

In March 2023, KWEB traded between $28.13 and $31.70. ATM implied volatility averaged 47.5%, placing in the 10.1% IV rank vs the trailing year. The 30-day expected move averaged 13.7%. IV traded above realized volatility by 6.9% (HV 20d: 40.5%). Max pain ranged from $30.00 to $31.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 11 of 23 days. Put/call ratio averaged 0.56.

Notable Days

2023-03-28: Highest Volume — 151,149 contracts
2023-03-23: Largest IV spike — 7.7% change
2023-03-28: Highest IV Rank — 18.9%
2023-03-10: Largest Expected Move — 14.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.85	$28.13	$31.70	$30.57	$31.09
Max Pain	$30.13	$30.00	$31.00	$30.00	$30.00
ATM IV	47.5%	44.5%	50.8%	46.6%	45.8%
Expected Move	13.7%	12.7%	14.4%	13.8%	12.9%
HV 20d	40.5%	37.2%	43.8%	43.3%	37.9%
HV 60d	43.4%	37.9%	45.3%	45.3%	37.9%
IV Rank	10.1%	4.8%	18.9%	7.0%	8.3%
IV Percentile	17.7%	2.4%	31.7%	11.1%	8.3%
Term Structure	-0.1%	-1.2%	1.1%	-0.9%	0.3%
VWIV	47.8%	44.2%	51.4%	48.2%	45.8%
Skew 25d	2.8%	0.5%	4.3%	2.7%	0.8%
Skew 10d	5.6%	0.8%	9.7%	5.5%	0.8%
Call IV 25d	46.8%	43.4%	50.3%	46.1%	46.2%
Put IV 25d	49.6%	46.9%	53.0%	48.7%	46.9%
Bid-Ask Spread %	7.03	2.80	29.38	3.18	3.72
Gamma HHI	0.07	0.06	0.10	0.07	0.08
Net GEX	16.0M	1.2M	36.9M	20.6M	32.6M
Net DEX	-377.1M	-751.3M	-45.1M	-513.4M	-601.6M
Net VEX	-5.0M	-5.9M	-4.5M	-5.5M	-5.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.18	1.14	0.56	0.68
Total Volume	55,480.217	28,185	151,149	75,417	60,981
Total OI	1,403,092.652	1,106,417	1,602,424	1,528,594	1,329,202

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
2023-03-01	$30.57	$30.00	46.6%	13.8%	43.3%	7.0%	48.2%	2.7%	-0.9%	20.6M	-513.4M	-5.5M	0.56	3.18	48,418	26,999	1,083,340	445,254
2023-03-02	$31.51	$30.00	46.0%	13.5%	41.8%	6.1%	47.6%	3.5%	-0.8%	28.0M	-708.6M	-5.8M	0.79	4.52	33,344	26,458	1,108,030	461,634
2023-03-03	$31.63	$30.00	46.5%	13.6%	41.1%	6.9%	48.0%	2.5%	-1.2%	30.7M	-743.2M	-5.9M	0.41	3.87	54,779	22,461	1,113,307	471,539
2023-03-06	$31.02	$31.00	46.2%	13.2%	40.5%	6.4%	45.6%	2.4%	0.1%	23.9M	-571.3M	-5.6M	0.26	8.32	29,239	7,474	1,106,447	456,650
2023-03-07	$30.06	$31.00	46.5%	13.5%	41.2%	6.9%	46.4%	2.4%	0.1%	15.3M	-385.1M	-5.4M	0.27	3.63	33,569	9,153	1,115,877	459,915
2023-03-08	$29.74	$31.00	46.9%	13.5%	40.5%	7.7%	47.7%	2.9%	0.2%	13.4M	-332.8M	-5.3M	0.70	3.17	16,590	11,595	1,138,864	463,358
2023-03-09	$28.13	$30.00	47.8%	13.8%	43.8%	9.3%	47.6%	2.5%	-0.0%	2.7M	-45.1M	-4.7M	0.69	4.65	55,916	38,614	1,137,103	465,321
2023-03-10	$28.26	$30.00	50.1%	14.4%	42.9%	13.3%	49.5%	3.0%	-0.5%	1.2M	-66.9M	-4.7M	0.67	14.56	30,819	20,785	1,132,685	466,020
2023-03-13	$28.80	$30.00	50.8%	14.4%	42.0%	14.6%	49.8%	2.7%	-0.6%	5.8M	-163.8M	-4.8M	0.81	29.38	20,746	16,802	1,072,968	449,066
2023-03-14	$28.81	$30.00	49.4%	14.0%	39.8%	12.1%	48.6%	3.5%	-0.6%	6.2M	-178.2M	-4.7M	0.55	11.13	22,919	12,704	1,083,281	446,621
2023-03-15	$28.19	$30.00	50.0%	14.4%	40.1%	13.1%	50.5%	3.9%	-0.3%	4.0M	-88.7M	-4.5M	0.78	15.13	25,226	19,647	1,094,689	448,946
2023-03-16	$28.95	$30.00	48.6%	14.0%	41.9%	11.0%	50.0%	3.2%	0.4%	6.7M	-225.8M	-4.6M	0.36	13.58	43,900	15,627	1,094,595	439,117
2023-03-17	$28.95	$30.00	47.6%	13.4%	41.6%	9.9%	46.7%	4.1%	-0.8%	4.9M	-229.5M	-4.7M	0.99	3.33	27,402	27,020	1,117,816	444,417
2023-03-20	$28.71	$30.00	47.7%	13.7%	39.9%	10.1%	47.3%	3.8%	-0.1%	8.8M	-194.9M	-4.6M	1.14	2.92	16,971	19,331	776,283	330,134
2023-03-21	$29.20	$30.00	45.5%	13.0%	39.3%	6.8%	45.6%	4.3%	0.5%	10.4M	-244.5M	-4.6M	0.22	3.43	27,055	6,039	780,395	336,805
2023-03-22	$29.09	$30.00	44.5%	12.7%	39.3%	4.8%	44.2%	3.8%	1.1%	10.0M	-235.7M	-4.6M	0.65	9.95	20,880	13,514	779,018	339,387
2023-03-23	$30.20	$30.00	47.9%	13.8%	41.7%	13.9%	48.8%	2.0%	-0.3%	17.4M	-415.0M	-5.0M	0.18	4.83	78,939	14,291	793,421	342,041
2023-03-24	$30.30	$30.00	47.7%	13.7%	38.4%	13.3%	47.9%	2.6%	0.4%	20.6M	-468.4M	-5.0M	0.48	2.80	28,184	13,398	847,460	344,075
2023-03-27	$29.64	$30.00	46.6%	13.5%	38.8%	10.6%	47.5%	3.2%	0.1%	14.2M	-324.4M	-4.6M	0.77	2.99	18,478	14,168	825,863	336,608
2023-03-28	$30.86	$30.00	49.8%	14.4%	41.2%	18.9%	51.4%	2.8%	-0.2%	23.4M	-553.2M	-5.1M	0.22	4.76	123,457	27,692	838,309	344,459
2023-03-29	$31.13	$30.00	47.1%	13.6%	38.2%	11.8%	47.9%	0.7%	0.2%	30.8M	-632.5M	-5.4M	0.34	4.04	33,301	11,423	928,921	367,567
2023-03-30	$31.70	$30.00	46.5%	13.3%	37.2%	10.3%	47.1%	0.5%	0.4%	36.9M	-751.3M	-5.6M	0.45	3.80	34,359	15,378	939,639	374,684
2023-03-31	$31.09	$30.00	45.8%	12.9%	37.9%	8.3%	45.8%	0.8%	0.3%	32.6M	-601.6M	-5.3M	0.68	3.72	36,222	24,759	946,628	382,574