KWEB Options History — December 2023

In December 2023, KWEB traded between $25.87 and $27.63. ATM implied volatility averaged 32.5%, placing in the 11.1% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded above realized volatility by 4.2% (HV 20d: 28.3%). Max pain ranged from $26.00 to $27.42. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 0.37.

Notable Days

  • 2023-12-27: Highest Volume — 247,808 contracts
  • 2023-12-08: Largest IV drop — 7.5% change
  • 2023-12-28: Highest IV Rank — 25.7%
  • 2023-12-29: Largest Expected Move — 10.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.76$25.87$27.63$27.63$27.02
Max Pain$26.62$26.00$27.42$27.00$26.00
ATM IV32.5%28.9%36.0%30.7%35.9%
Expected Move9.3%8.4%10.3%9.1%10.3%
HV 20d28.3%22.6%32.7%32.7%28.9%
HV 60d30.0%29.2%31.3%29.5%31.3%
IV Rank11.1%0.0%25.7%0.0%25.3%
IV Percentile6.0%0.0%21.4%0.0%20.6%
Term Structure0.3%-0.5%1.1%0.1%0.1%
VWIV33.8%29.6%38.7%32.5%38.7%
Skew 25d-1.9%-4.6%-0.2%-0.7%-4.6%
Skew 10d-3.8%-10.1%0.3%-0.8%-10.1%
Call IV 25d34.0%29.6%39.2%31.2%39.2%
Put IV 25d32.1%29.1%35.0%30.5%34.6%
Bid-Ask Spread %21.999.0860.4423.8513.25
Gamma HHI0.110.090.120.090.11
Net GEX16.9M3.6M48.4M22.6M48.4M
Net DEX-262.3M-751.0M-53.2M-360.7M-751.0M
Net VEX-3.9M-5.7M-3.3M-3.9M-5.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.370.101.190.300.18
Total Volume99,516.223,293247,80898,136189,004
Total OI1,541,884.21,297,6991,893,4841,497,1051,893,484

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-12-01$27.63$27.0030.7%9.1%32.7%0.0%32.5%-0.7%0.1%22.6M-360.7M-3.9M0.3023.8575,73922,3971,086,169410,936
2023-12-04$26.91$27.4231.5%9.2%31.2%2.6%32.1%-0.3%1.1%13.6M-157.9M-3.5M0.5651.5627,74915,5801,071,234413,231
2023-12-05$26.77$26.0032.3%9.4%31.2%5.2%33.7%-0.2%0.2%12.5M-149.4M-3.6M0.4960.4445,48722,1481,100,717414,998
2023-12-06$26.84$27.4231.2%9.2%31.2%1.7%33.2%-0.7%0.7%13.8M-157.2M-3.6M0.1920.8119,5143,7791,116,870425,247
2023-12-07$26.95$27.4231.3%9.2%31.2%2.0%32.3%-0.5%1.1%15.4M-189.6M-3.6M0.3411.1117,5085,9141,121,624425,614
2023-12-08$26.71$27.4228.9%8.4%30.6%0.0%29.6%-0.6%0.4%8.6M-106.2M-3.3M0.1617.7697,66515,6151,128,991428,028
2023-12-11$26.82$26.0030.6%8.8%30.6%5.4%31.6%-1.2%-0.2%8.5M-156.5M-3.3M0.449.0823,01810,1601,096,792427,002
2023-12-12$27.12$26.0030.6%8.9%30.5%5.2%31.5%-1.0%0.4%13.0M-237.6M-3.4M0.209.8968,82813,6411,105,797429,332
2023-12-13$26.95$26.0031.2%8.9%29.6%7.1%31.7%-0.9%-0.2%10.3M-236.2M-3.6M0.3423.7363,95721,9921,160,866437,530
2023-12-14$27.36$26.0032.3%9.3%27.7%12.3%33.2%-1.8%0.1%22.3M-412.7M-4.0M0.2710.4960,10916,3171,194,710434,169
2023-12-15$27.36$26.0033.4%9.5%23.9%16.2%34.1%-2.0%-0.5%28.4M-483.7M-4.0M0.359.9177,39727,2171,231,917432,328
2023-12-18$26.49$27.4232.9%9.4%26.4%14.4%33.1%-2.9%0.3%12.1M-185.5M-3.8M1.1919.1331,89837,856957,841339,858
2023-12-19$26.81$27.4232.3%9.3%22.7%12.3%33.8%-3.0%0.3%15.0M-252.3M-3.9M0.5814.7726,46215,359977,001362,855
2023-12-20$26.16$27.4232.1%9.2%22.6%11.4%34.0%-3.8%0.1%6.7M-110.9M-3.7M0.4115.36150,75861,466991,444364,805
2023-12-21$26.87$27.0032.8%9.4%24.9%13.9%33.0%-2.1%0.1%17.9M-311.6M-4.2M0.7316.4938,98728,3791,052,409399,596
2023-12-22$25.87$26.5034.0%9.7%27.1%18.3%34.4%-2.2%0.8%3.6M-53.2M-4.0M0.3340.32130,36442,4141,076,021417,874
2023-12-26$26.07$26.0034.7%9.9%27.1%21.1%37.1%-1.7%0.2%14.5M-184.5M-4.2M0.1345.5845,5946,0751,137,615415,485
2023-12-27$25.93$26.0034.9%10.0%26.7%21.7%37.9%-3.4%0.4%13.6M-171.3M-4.2M0.1015.05225,75422,0541,153,114424,050
2023-12-28$26.63$26.0036.0%10.1%28.4%25.7%37.8%-4.0%0.2%36.5M-577.1M-5.2M0.1511.29162,40823,7611,354,635425,495
2023-12-29$27.02$26.0035.9%10.3%28.9%25.3%38.7%-4.6%0.1%48.4M-751.0M-5.7M0.1813.25159,51929,4851,454,228439,256