PWB Options History — February 2022

In February 2022, PWB traded between $66.35 and $74.25. ATM implied volatility averaged 30.1%, placing in the 9.2% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded below realized volatility by 0.1% (HV 20d: 30.2%). Max pain ranged from $74.00 to $74.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 0.29.

Notable Days

2022-02-24: Highest Volume — 115 contracts
2022-02-09: Largest IV drop — 24.8% change
2022-02-14: Highest IV Rank — 12.7%
2022-02-14: Largest Expected Move — 10.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$70.84	$66.35	$74.25	$73.91	$68.80
Max Pain	$74.00	$74.00	$74.00	$74.00	$74.00
ATM IV	30.1%	23.0%	35.6%	29.0%	33.6%
Expected Move	8.5%	6.6%	10.2%	8.3%	9.6%
HV 20d	30.2%	27.3%	34.3%	28.2%	33.4%
HV 60d	26.0%	23.8%	28.0%	23.8%	27.9%
IV Rank	9.2%	4.7%	12.7%	8.5%	11.5%
IV Percentile	43.7%	28.8%	52.8%	41.2%	52.8%
Term Structure	-1.5%	-5.2%	0.3%	-1.3%	-5.2%
VWIV	26.9%	18.5%	33.9%	30.7%	30.3%
Skew 25d	5.3%	1.3%	14.2%	4.6%	14.0%
Skew 10d	8.7%	1.3%	39.9%	6.6%	39.9%
Call IV 25d	27.3%	21.1%	41.0%	30.9%	38.5%
Put IV 25d	32.6%	24.3%	52.4%	35.4%	52.4%
Bid-Ask Spread %	124.15	109.22	137.03	129.77	109.22
Gamma HHI	0.49	0.42	0.69	0.47	0.69
Net GEX	4.2K	1.1K	18.2K	3.4K	18.2K
Net DEX	-53.4K	-463.4K	13.3K	-24.9K	-463.4K
Net VEX	-301	-1.6K	-78	-215	-1.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.29	0.04	0.33	0.33	0.17
Total Volume	30.263	19	115	20	27
Total OI	29.789	19	128	19	128

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
2022-02-01	$73.91	$0.00	29.0%	8.3%	28.2%	8.5%	30.7%	4.6%	-1.3%	3.4K	-24.9K	-215	0.33	129.77	N/A	N/A	15	5	15	4
2022-02-02	$74.25	$0.00	29.4%	8.4%	28.4%	8.8%	29.8%	4.4%	-2.7%	3.3K	-28.3K	-215	0.33	131.76	N/A	N/A	15	5	15	4
2022-02-03	$71.90	$74.00	30.0%	8.1%	27.3%	9.2%	26.3%	4.6%	-1.3%	2.7K	-14.8K	-192	0.33	120.73	N/A	N/A	15	5	15	4
2022-02-04	$72.68	$74.00	27.4%	7.7%	27.8%	7.5%	26.8%	7.0%	-0.3%	3.1K	-15.2K	-190	0.33	115.88	N/A	N/A	15	5	15	4
2022-02-07	$71.83	$74.00	32.2%	8.1%	27.7%	10.5%	25.2%	3.7%	-1.6%	2.9K	-12.5K	-180	0.33	119.62	N/A	N/A	15	5	15	4
2022-02-08	$72.06	$74.00	30.6%	7.4%	27.7%	9.5%	24.3%	4.1%	-0.6%	3.0K	-11.2K	-176	0.33	125.56	N/A	N/A	15	5	15	4
2022-02-09	$73.96	$74.00	23.0%	6.6%	28.4%	4.7%	24.3%	2.8%	0.0%	3.6K	-25.6K	-198	0.33	125.88	N/A	N/A	15	5	15	4
2022-02-10	$72.36	$74.00	27.6%	7.9%	29.1%	7.6%	23.2%	2.6%	-3.0%	3.4K	-18.2K	-183	0.33	115.83	N/A	N/A	15	5	15	4
2022-02-11	$70.07	$74.00	32.6%	9.3%	30.2%	10.8%	25.3%	1.3%	-0.3%	2.6K	-12.4K	-165	0.33	137.03	N/A	N/A	15	5	15	4
2022-02-14	$70.06	$74.00	35.6%	10.2%	30.2%	12.7%	30.4%	14.2%	-0.0%	2.2K	-3.9K	-145	0.33	135.60	N/A	N/A	15	5	15	4
2022-02-15	$71.61	$74.00	27.7%	7.9%	30.5%	7.6%	27.3%	4.1%	-1.3%	2.9K	-6.8K	-157	0.33	125.53	N/A	N/A	15	5	15	4
2022-02-16	$71.82	$74.00	25.3%	7.2%	30.5%	6.1%	25.9%	1.7%	0.2%	3.1K	-6.0K	-151	0.33	127.72	N/A	N/A	15	5	15	4
2022-02-17	$69.65	$74.00	29.3%	8.4%	32.2%	8.7%	19.0%	8.1%	0.3%	1.9K	7.7K	-108	0.33	124.00	N/A	N/A	15	5	15	4
2022-02-18	$68.76	$74.00	32.5%	9.3%	31.0%	10.7%	18.5%	4.8%	-2.2%	1.6K	8.9K	-103	0.33	121.11	N/A	N/A	15	5	15	4
2022-02-22	$68.26	$74.00	32.9%	9.4%	30.8%	11.0%	29.1%	4.9%	-2.4%	1.5K	10.5K	-91	0.27	123.97	N/A	N/A	15	4	15	4
2022-02-23	$66.35	$74.00	34.8%	10.0%	32.3%	12.2%	31.4%	3.4%	-3.6%	1.1K	13.3K	-78	0.27	120.20	N/A	N/A	15	4	15	4
2022-02-24	$68.17	$74.00	30.5%	8.7%	33.7%	9.5%	33.9%	6.8%	-1.6%	1.3K	10.7K	-91	0.04	121.00	N/A	N/A	111	4	15	4
2022-02-25	$69.37	$74.00	28.1%	8.0%	34.3%	7.9%	29.9%	4.3%	-1.2%	17.0K	-423.2K	-1.4K	0.04	128.38	N/A	N/A	111	4	111	4
2022-02-28	$68.80	$74.00	33.6%	9.6%	33.4%	11.5%	30.3%	14.0%	-5.2%	18.2K	-463.4K	-1.6K	0.17	109.22	N/A	N/A	23	4	124	4