PWB Options History — January 2022

In January 2022, PWB traded between $68.79 and $80.73. ATM implied volatility averaged 29.5%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 8.2%. IV traded above realized volatility by 5.3% (HV 20d: 24.2%). Max pain ranged from $75.00 to $77.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.28.

Notable Days

2022-01-20: Highest Volume — 21 contracts
2022-01-05: Largest IV spike — 31.9% change
2022-01-26: Highest IV Rank — 16.0%
2022-01-26: Largest Expected Move — 11.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$73.97	$68.79	$80.73	$80.73	$72.78
Max Pain	$75.44	$75.00	$77.00	$77.00	$75.00
ATM IV	29.5%	19.6%	40.7%	19.6%	27.8%
Expected Move	8.2%	5.6%	11.7%	5.6%	8.0%
HV 20d	24.2%	20.3%	27.2%	22.5%	27.2%
HV 60d	21.1%	18.6%	23.6%	18.6%	23.6%
IV Rank	8.8%	2.5%	16.0%	2.5%	7.7%
IV Percentile	37.7%	12.8%	52.4%	12.8%	38.0%
Term Structure	-1.2%	-8.4%	5.2%	-1.2%	-1.5%
VWIV	28.2%	18.8%	39.2%	18.8%	25.3%
Skew 25d	4.8%	-3.0%	21.9%	-3.0%	3.3%
Skew 10d	6.1%	0.3%	16.4%	2.5%	5.3%
Call IV 25d	25.6%	19.0%	42.9%	21.6%	28.0%
Put IV 25d	30.4%	18.6%	50.9%	18.6%	31.3%
Bid-Ask Spread %	127.87	115.68	144.39	134.44	125.28
Gamma HHI	0.38	0.31	0.44	0.31	0.43
Net GEX	3.0K	1.7K	4.2K	3.1K	2.6K
Net DEX	-30.8K	-78.9K	6.1K	-78.9K	-13.4K
Net VEX	-238	-289	-167	-276	-210
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.28	0.25	0.33	0.25	0.33
Total Volume	20.105	20	21	20	20
Total OI	20.053	20	21	20	20

Daily Data (19 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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2022-01-03	$80.73	$77.00	19.6%	5.6%	22.5%	2.5%	18.8%	-3.0%	-1.2%	3.1K	-78.9K	-276	0.25	134.44	N/A	N/A	16	4	16	4
2022-01-05	$77.59	$77.00	25.9%	7.4%	26.8%	6.5%	27.5%	1.5%	-5.0%	3.3K	-59.1K	-289	0.25	129.49	N/A	N/A	16	4	16	4
2022-01-06	$77.37	$0.00	29.3%	7.0%	24.1%	8.7%	0.0%	4.1%	-1.0%	3.5K	-57.5K	-285	0.25	120.10	N/A	N/A	16	4	16	4
2022-01-07	$76.35	$0.00	28.5%	7.0%	24.1%	8.2%	0.0%	3.4%	1.3%	3.5K	-49.1K	-281	0.25	129.14	N/A	N/A	16	4	16	4
2022-01-10	$75.69	$0.00	27.7%	6.8%	24.1%	7.7%	0.0%	6.9%	0.7%	3.7K	-42.6K	-271	0.25	128.87	N/A	N/A	16	4	16	4
2022-01-11	$77.27	$0.00	28.1%	6.3%	25.5%	7.9%	0.0%	2.5%	0.7%	4.2K	-54.2K	-270	0.25	123.52	N/A	N/A	16	4	16	4
2022-01-12	$77.47	$0.00	25.0%	7.2%	25.4%	5.9%	0.0%	2.2%	-2.4%	4.1K	-56.7K	-268	0.25	144.39	N/A	N/A	16	4	16	4
2022-01-13	$75.74	$0.00	25.4%	7.3%	25.7%	6.2%	0.0%	4.2%	0.4%	3.7K	-46.8K	-270	0.25	125.00	N/A	N/A	16	4	16	4
2022-01-14	$75.61	$0.00	23.1%	6.6%	24.9%	4.7%	0.0%	3.1%	0.9%	4.0K	-42.0K	-265	0.25	129.82	N/A	N/A	16	4	16	4
2022-01-18	$73.80	$0.00	27.6%	7.9%	25.7%	7.6%	0.0%	4.8%	-0.9%	3.3K	-32.5K	-246	0.25	127.18	N/A	N/A	16	4	16	4
2022-01-19	$73.44	$0.00	26.9%	7.7%	25.7%	7.1%	0.0%	4.9%	0.8%	3.2K	-27.1K	-239	0.25	131.66	N/A	N/A	16	4	16	4
2022-01-20	$72.86	$0.00	28.5%	8.2%	25.0%	8.2%	27.9%	1.6%	-1.7%	3.2K	-25.2K	-234	0.31	124.79	N/A	N/A	16	5	16	4
2022-01-21	$70.85	$75.00	33.8%	9.7%	24.1%	11.6%	23.4%	3.7%	-1.4%	2.3K	-7.6K	-214	0.31	125.75	N/A	N/A	16	5	16	5
2022-01-24	$69.98	$75.00	37.6%	10.8%	23.0%	14.0%	25.8%	21.9%	-8.4%	1.9K	1.6K	-187	0.33	115.68	N/A	N/A	15	5	15	5
2022-01-25	$69.74	$75.00	35.5%	10.2%	21.7%	12.7%	30.4%	3.5%	-4.8%	1.9K	1.4K	-180	0.33	132.01	N/A	N/A	15	5	15	5
2022-01-26	$68.95	$75.00	40.7%	11.7%	20.3%	16.0%	39.2%	8.1%	5.2%	1.8K	-3.0K	-188	0.33	133.45	N/A	N/A	15	5	15	5
2022-01-27	$68.79	$75.00	36.1%	10.3%	20.3%	13.0%	30.5%	6.6%	-3.0%	1.7K	6.1K	-167	0.33	121.91	N/A	N/A	15	5	15	5
2022-01-28	$70.36	$75.00	32.6%	9.3%	23.1%	10.8%	33.2%	7.6%	-2.1%	2.0K	425	-181	0.33	127.12	N/A	N/A	15	5	15	5
2022-01-31	$72.78	$75.00	27.8%	8.0%	27.2%	7.7%	25.3%	3.3%	-1.5%	2.6K	-13.4K	-210	0.33	125.28	N/A	N/A	15	5	15	5