KWEB Options History — November 2023

In November 2023, KWEB traded between $25.95 and $28.70. ATM implied volatility averaged 34.4%, placing in the 4.3% IV rank vs the trailing year. The 30-day expected move averaged 10.0%. IV traded above realized volatility by 2.3% (HV 20d: 32.1%). Max pain ranged from $27.00 to $27.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.40.

Notable Days

2023-11-15: Highest Volume — 302,188 contracts
2023-11-02: Largest IV drop — 6.6% change
2023-11-15: Highest IV Rank — 11.8%
2023-11-15: Largest Expected Move — 10.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$27.62	$25.95	$28.70	$25.95	$27.99
Max Pain	$27.00	$27.00	$27.00	$27.00	$27.00
ATM IV	34.4%	31.2%	37.7%	36.0%	31.2%
Expected Move	10.0%	9.4%	10.8%	10.6%	9.4%
HV 20d	32.1%	28.9%	34.5%	33.4%	32.4%
HV 60d	30.6%	29.2%	31.9%	30.2%	30.7%
IV Rank	4.3%	0.0%	11.8%	7.7%	0.0%
IV Percentile	5.6%	0.0%	24.2%	7.5%	0.0%
Term Structure	-0.1%	-0.6%	0.4%	-0.1%	-0.1%
VWIV	35.4%	33.3%	37.9%	37.6%	33.3%
Skew 25d	-0.4%	-1.1%	1.1%	1.1%	-0.6%
Skew 10d	-0.4%	-1.9%	2.9%	2.9%	-0.0%
Call IV 25d	34.9%	31.7%	38.2%	35.6%	31.7%
Put IV 25d	34.5%	31.1%	37.5%	36.7%	31.1%
Bid-Ask Spread %	14.73	2.56	37.24	13.51	3.17
Gamma HHI	0.09	0.07	0.13	0.08	0.10
Net GEX	24.5M	-1.2M	47.9M	-1.2M	37.1M
Net DEX	-372.1M	-819.4M	58.8M	58.8M	-456.3M
Net VEX	-3.7M	-4.3M	-3.1M	-3.1M	-4.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.08	1.25	1.25	0.51
Total Volume	85,711.81	20,944	302,188	35,436	41,415
Total OI	1,469,219.238	1,252,133	1,733,459	1,375,677	1,475,827

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
2023-11-01	$25.95	$27.00	36.0%	10.6%	33.4%	7.7%	37.6%	1.1%	-0.1%	-1.2M	58.8M	-3.1M	1.25	13.51	15,733	19,703	964,293	411,384
2023-11-02	$26.30	$27.00	33.6%	9.9%	33.7%	2.0%	35.0%	0.9%	0.4%	20.5K	-8.5M	-3.1M	0.93	29.17	31,969	29,673	964,847	412,949
2023-11-03	$27.36	$27.00	33.7%	9.9%	34.3%	2.1%	35.1%	0.0%	0.3%	10.2M	-233.0M	-3.3M	0.58	4.28	38,446	22,393	978,024	427,344
2023-11-06	$27.45	$27.00	34.4%	10.0%	34.3%	3.8%	34.9%	0.1%	0.1%	11.1M	-238.0M	-3.3M	0.35	33.64	24,790	8,700	966,305	427,065
2023-11-07	$27.43	$27.00	34.1%	9.8%	31.4%	3.1%	34.4%	0.1%	0.2%	10.1M	-219.6M	-3.2M	0.84	3.21	11,383	9,561	971,982	433,099
2023-11-08	$27.34	$27.00	34.9%	10.0%	31.3%	5.0%	35.9%	-0.2%	0.2%	10.3M	-212.6M	-3.2M	0.08	29.26	88,073	7,450	977,685	434,199
2023-11-09	$26.81	$27.00	33.8%	9.7%	29.1%	2.4%	35.0%	-0.2%	0.1%	7.5M	-119.7M	-3.2M	0.18	3.72	42,138	7,466	1,042,651	439,833
2023-11-10	$26.93	$27.00	34.3%	9.9%	28.9%	3.7%	34.8%	-0.3%	-0.2%	9.2M	-156.3M	-3.3M	0.27	25.11	55,087	15,079	1,054,840	440,839
2023-11-13	$27.27	$27.00	36.2%	10.4%	29.1%	8.2%	36.3%	-0.8%	-0.3%	16.9M	-274.3M	-3.4M	0.19	2.82	70,021	12,989	1,084,201	434,253
2023-11-14	$27.82	$27.00	37.7%	10.8%	29.5%	11.8%	37.8%	-0.6%	-0.3%	26.9M	-459.9M	-3.6M	0.20	21.37	151,364	30,497	1,125,753	437,759
2023-11-15	$28.70	$27.00	37.7%	10.8%	29.9%	11.8%	37.9%	-0.6%	-0.6%	47.2M	-819.4M	-3.9M	0.14	2.74	265,462	36,726	1,202,708	455,640
2023-11-16	$27.57	$27.00	35.3%	10.1%	33.2%	6.1%	35.8%	-0.1%	-0.1%	34.3M	-421.1M	-3.8M	0.30	24.46	95,354	28,610	1,269,344	464,115
2023-11-17	$27.63	$27.00	34.5%	9.9%	32.4%	4.2%	35.9%	-0.7%	-0.5%	37.4M	-440.4M	-3.8M	0.40	2.56	44,733	17,859	1,255,683	471,561
2023-11-20	$28.68	$27.00	36.0%	10.4%	34.5%	7.8%	36.6%	-0.7%	-0.4%	35.2M	-637.0M	-4.0M	0.27	21.74	139,661	37,274	898,585	353,548
2023-11-21	$27.98	$27.00	34.9%	10.1%	33.7%	5.8%	35.7%	-0.9%	-0.3%	33.1M	-496.4M	-4.1M	0.32	3.47	87,583	27,978	992,218	376,217
2023-11-22	$28.11	$27.00	33.7%	9.7%	32.1%	2.6%	34.5%	-0.9%	-0.3%	35.9M	-528.5M	-4.2M	0.33	16.55	33,567	10,939	1,024,278	396,319
2023-11-24	$28.52	$27.00	33.6%	9.7%	32.3%	2.6%	34.5%	-1.1%	-0.5%	47.9M	-661.1M	-4.3M	0.13	3.65	38,746	5,154	1,042,904	407,117
2023-11-27	$28.05	$27.00	32.9%	9.9%	33.1%	0.4%	34.8%	-1.1%	-0.2%	35.0M	-509.6M	-4.1M	0.81	37.24	20,711	16,692	1,032,586	392,127
2023-11-28	$28.27	$27.00	32.2%	9.6%	33.1%	0.0%	34.2%	-0.6%	0.0%	38.3M	-565.4M	-4.2M	0.14	4.20	73,695	10,493	1,039,418	402,684
2023-11-29	$27.80	$27.00	31.9%	9.5%	32.5%	0.0%	34.1%	-1.0%	-0.2%	33.1M	-415.0M	-3.9M	0.19	23.51	62,893	11,888	1,067,331	404,089
2023-11-30	$27.99	$27.00	31.2%	9.4%	32.4%	0.0%	33.3%	-0.6%	-0.1%	37.1M	-456.3M	-4.0M	0.51	3.17	27,344	14,071	1,069,765	406,062