KWEB Options History — August 2023

In August 2023, KWEB traded between $26.94 and $31.07. ATM implied volatility averaged 42.9%, placing in the 18.8% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded below realized volatility by 1.1% (HV 20d: 44.0%). Max pain ranged from $28.00 to $29.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 4 of 23 days. Put/call ratio averaged 0.37.

Notable Days

2023-08-22: Highest Volume — 214,751 contracts
2023-08-07: Largest IV drop — 4.8% change
2023-08-03: Highest IV Rank — 27.2%
2023-08-01: Largest Expected Move — 13.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.77	$26.94	$31.07	$31.07	$28.77
Max Pain	$28.39	$28.00	$29.00	$29.00	$28.00
ATM IV	42.9%	38.9%	46.4%	45.3%	38.9%
Expected Move	12.3%	11.1%	13.5%	13.5%	11.1%
HV 20d	44.0%	30.1%	50.1%	46.8%	30.1%
HV 60d	42.1%	39.3%	44.2%	42.6%	39.3%
IV Rank	18.8%	8.7%	27.2%	24.5%	8.7%
IV Percentile	32.1%	12.7%	46.0%	38.5%	12.7%
Term Structure	-0.4%	-1.0%	0.3%	-0.8%	-0.4%
VWIV	44.3%	39.9%	47.5%	47.5%	39.9%
Skew 25d	-0.4%	-1.9%	0.6%	-1.8%	-0.4%
Skew 10d	-0.4%	-3.4%	2.0%	-3.0%	0.2%
Call IV 25d	44.1%	39.8%	48.2%	47.4%	39.8%
Put IV 25d	43.6%	39.5%	46.8%	45.6%	39.5%
Bid-Ask Spread %	3.20	2.13	8.12	5.81	6.37
Gamma HHI	0.07	0.06	0.08	0.07	0.08
Net GEX	27.7M	6.7M	45.4M	43.6M	39.5M
Net DEX	-456.3M	-995.5M	4.6M	-995.5M	-570.8M
Net VEX	-5.0M	-5.7M	-4.3M	-5.7M	-5.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.05	1.00	1.00	0.63
Total Volume	105,478.565	46,138	214,751	65,860	62,284
Total OI	1,500,784.043	1,290,470	1,644,122	1,401,564	1,603,121

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
2023-08-01	$31.07	$29.00	45.3%	13.5%	46.8%	24.5%	47.5%	-1.8%	-0.8%	43.6M	-995.5M	-5.7M	1.00	5.81	32,852	33,008	1,026,911	374,653
2023-08-02	$29.68	$29.00	44.9%	13.2%	50.1%	23.5%	47.1%	-0.5%	-0.9%	31.8M	-605.3M	-5.3M	0.35	2.78	70,289	24,444	1,032,917	390,762
2023-08-03	$30.82	$28.00	46.4%	13.0%	49.6%	27.2%	47.0%	-1.4%	-1.0%	39.7M	-905.3M	-5.6M	0.22	8.12	125,710	27,220	1,024,927	401,407
2023-08-04	$30.55	$28.00	45.5%	12.8%	48.5%	25.2%	45.7%	-1.9%	-0.7%	40.4M	-829.0M	-5.5M	0.41	2.74	57,440	23,738	1,064,642	413,967
2023-08-07	$30.12	$28.00	43.3%	12.3%	49.0%	19.7%	44.0%	-0.7%	-0.4%	33.3M	-667.9M	-5.2M	0.70	2.15	82,371	57,860	1,050,650	393,186
2023-08-08	$29.52	$28.00	42.5%	12.1%	49.6%	17.6%	44.0%	-0.4%	0.1%	26.1M	-490.9M	-4.8M	0.48	3.21	51,366	24,766	1,015,721	386,421
2023-08-09	$29.74	$28.00	43.9%	12.6%	47.5%	21.3%	44.6%	0.2%	0.3%	29.8M	-571.6M	-5.0M	0.22	2.89	135,022	30,065	1,027,827	390,236
2023-08-10	$30.05	$29.00	42.9%	12.3%	46.0%	18.6%	43.5%	0.1%	-0.1%	45.4M	-724.5M	-5.4M	0.20	2.90	129,428	25,413	1,134,887	399,288
2023-08-11	$28.80	$29.00	42.9%	12.3%	47.3%	18.8%	44.4%	0.3%	-0.1%	25.4M	-346.1M	-5.0M	0.39	2.61	95,194	37,144	1,154,998	412,963
2023-08-14	$28.73	$29.00	42.6%	12.2%	47.3%	18.0%	43.5%	0.2%	0.0%	23.6M	-329.4M	-4.9M	0.30	2.70	49,960	14,993	1,140,159	412,828
2023-08-15	$28.09	$29.00	42.4%	12.2%	45.8%	17.5%	44.4%	0.6%	-0.4%	15.8M	-178.7M	-4.6M	0.33	2.39	59,750	19,966	1,156,214	411,997
2023-08-16	$27.66	$29.00	42.6%	12.2%	45.8%	17.9%	44.3%	-0.2%	-0.7%	9.6M	-76.1M	-4.4M	0.25	2.13	88,087	22,002	1,163,738	413,731
2023-08-17	$27.89	$29.00	42.6%	12.2%	45.9%	18.0%	44.0%	-0.4%	-0.2%	13.7M	-161.8M	-4.5M	0.61	2.42	49,687	30,311	1,219,288	410,812
2023-08-18	$26.94	$29.00	44.4%	12.8%	47.4%	22.5%	46.1%	0.1%	-0.2%	6.7M	4.6M	-4.3M	0.38	2.75	99,183	37,524	1,227,643	416,479
2023-08-21	$26.98	$28.00	43.5%	12.4%	44.3%	20.3%	44.9%	0.6%	-0.2%	11.4M	-127.6M	-4.3M	0.13	2.77	61,632	8,302	945,424	345,046
2023-08-22	$26.98	$28.00	43.0%	12.3%	44.2%	18.9%	44.2%	0.0%	-0.0%	11.8M	-130.4M	-4.3M	0.05	2.75	205,349	9,402	955,476	347,957
2023-08-23	$27.56	$28.00	43.1%	12.2%	44.2%	19.1%	45.3%	-1.1%	-0.5%	22.5M	-309.4M	-4.9M	0.18	2.28	62,102	11,076	1,135,379	350,931
2023-08-24	$27.73	$28.00	42.0%	12.0%	44.0%	16.5%	43.6%	-0.9%	0.1%	25.9M	-344.7M	-5.0M	0.32	2.84	88,302	28,102	1,163,433	356,597
2023-08-25	$27.57	$28.00	41.9%	12.1%	34.1%	16.2%	44.6%	-0.5%	-0.2%	22.7M	-308.7M	-5.0M	0.19	2.81	111,604	21,716	1,209,189	368,016
2023-08-28	$28.29	$28.00	41.5%	11.9%	35.5%	15.3%	43.1%	-0.5%	-0.5%	31.2M	-463.1M	-5.1M	0.37	2.86	59,724	22,076	1,153,246	361,991
2023-08-29	$29.23	$28.00	41.1%	11.8%	36.9%	14.4%	42.4%	-1.0%	-0.8%	44.7M	-723.0M	-5.5M	0.47	2.39	63,517	29,888	1,191,946	372,981
2023-08-30	$28.98	$28.00	40.3%	11.5%	33.4%	12.2%	41.1%	-0.8%	-0.6%	42.3M	-638.5M	-5.4M	0.32	3.03	35,078	11,060	1,204,040	384,008
2023-08-31	$28.77	$28.00	38.9%	11.1%	30.1%	8.7%	39.9%	-0.4%	-0.4%	39.5M	-570.8M	-5.2M	0.63	6.37	38,218	24,066	1,217,359	385,762