PWB Options History — March 2022

In March 2022, PWB traded between $65.05 and $74.21. ATM implied volatility averaged 32.5%, placing in the 10.8% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded above realized volatility by 1.0% (HV 20d: 31.5%). Max pain ranged from $66.00 to $74.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 3 of 23 days. Put/call ratio averaged 0.35.

Notable Days

  • 2022-03-03: Highest Volume — 26 contracts
  • 2022-03-23: Largest IV spike — 36.6% change
  • 2022-03-07: Highest IV Rank — 23.0%
  • 2022-03-07: Largest Expected Move — 14.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$69.41$65.05$74.21$68.02$72.65
Max Pain$72.67$66.00$74.00$74.00$74.00
ATM IV32.5%22.9%51.6%37.6%29.6%
Expected Move9.4%6.3%14.8%10.8%6.7%
HV 20d31.5%29.2%34.2%30.9%29.2%
HV 60d28.8%27.4%29.9%27.7%29.9%
IV Rank10.8%4.6%23.0%14.0%8.9%
IV Percentile48.7%28.4%65.6%56.4%48.4%
Term Structure-3.5%-11.8%0.5%-9.8%-11.8%
VWIV33.5%21.3%68.3%34.8%21.7%
Skew 25d6.1%-3.1%19.8%4.3%2.2%
Skew 10d8.7%-2.5%24.8%8.0%5.9%
Call IV 25d30.0%22.4%41.9%31.8%30.5%
Put IV 25d36.0%23.2%54.4%36.0%32.7%
Bid-Ask Spread %124.7589.90141.81123.22122.33
Gamma HHI0.840.710.940.750.88
Net GEX21.3K18.2K26.7K19.2K20.3K
Net DEX-570.0K-772.8K-409.4K-468.7K-728.7K
Net VEX-1.6K-1.8K-1.3K-1.7K-1.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.350.180.670.270.50
Total Volume15.348526196
Total OI141.739136150136137

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-03-01$68.02$74.0037.6%10.8%30.9%14.0%34.8%4.3%-9.8%19.2K-468.7K-1.7K0.27123.22N/AN/A1541324
2022-03-02$69.66$74.0030.8%8.8%31.7%9.7%33.5%9.3%-0.5%19.8K-517.0K-1.7K0.27124.72N/AN/A1541324
2022-03-03$68.44$74.0035.8%10.3%32.0%12.9%35.2%4.7%-0.9%19.1K-484.5K-1.7K0.18128.36N/AN/A2241324
2022-03-04$67.62$74.0046.8%13.4%30.4%19.9%45.4%5.9%-2.8%18.3K-476.1K-1.8K0.18132.21N/AN/A2241394
2022-03-07$65.61$74.0051.6%14.8%31.4%23.0%68.3%5.9%-4.3%18.2K-436.1K-1.8K0.18141.70N/AN/A2241394
2022-03-08$65.69$74.0037.2%12.4%31.4%13.8%41.5%4.5%-4.5%18.3K-409.4K-1.8K0.18131.92N/AN/A2241394
2022-03-09$67.99$74.0032.3%12.7%34.2%10.6%39.5%5.4%-0.9%21.2K-481.1K-1.8K0.18141.26N/AN/A2241394
2022-03-10$67.02$74.0032.5%11.7%32.7%10.7%44.8%5.7%-0.8%20.8K-476.0K-1.8K0.27135.04N/AN/A1541464
2022-03-11$66.37$74.0034.1%14.1%32.1%11.7%52.2%5.6%-2.0%20.9K-452.2K-1.8K0.27141.81N/AN/A1541464
2022-03-14$65.05$66.0038.3%9.6%31.0%14.4%24.8%13.0%-7.7%19.8K-428.8K-1.8K0.2789.90N/AN/A1541464
2022-03-15$66.48$66.0034.1%10.2%32.3%11.7%25.9%12.5%0.3%21.2K-444.8K-1.8K0.2799.93N/AN/A1541464
2022-03-16$68.17$66.0031.6%8.7%32.6%10.2%23.8%11.8%0.2%24.3K-515.0K-1.8K0.27100.87N/AN/A1541464
2022-03-17$69.63$0.0032.5%9.1%33.6%10.7%0.0%19.8%-4.5%26.7K-583.2K-1.7K0.27112.44N/AN/A1541464
2022-03-18$71.04$0.0023.6%7.0%32.6%5.1%0.0%3.5%0.5%24.5K-648.5K-1.6K0.27122.50N/AN/A1541464
2022-03-21$70.74$0.0027.9%7.3%32.3%7.8%0.0%6.9%-0.4%23.1K-633.7K-1.6K0.67130.70N/AN/A321342
2022-03-22$71.97$0.0022.9%7.0%32.6%4.6%0.0%-3.1%-1.9%23.8K-705.4K-1.5K0.67121.09N/AN/A321342
2022-03-23$70.91$0.0031.3%7.0%31.2%10.0%31.4%4.0%-10.4%22.6K-645.3K-1.6K0.50135.10N/AN/A421342
2022-03-24$71.90$74.0027.2%7.2%30.2%7.4%21.7%5.4%-0.8%22.9K-678.7K-1.5K0.50127.94N/AN/A421352
2022-03-25$71.60$74.0029.3%6.9%29.8%8.7%25.7%3.1%-5.7%22.1K-679.9K-1.5K0.50137.56N/AN/A421352
2022-03-28$72.59$74.0028.3%6.9%29.8%8.0%21.9%3.8%-2.9%21.8K-707.7K-1.4K0.50129.12N/AN/A421352
2022-03-29$74.21$74.0026.4%6.3%30.1%6.9%21.3%3.4%-5.2%19.8K-772.8K-1.3K0.50117.85N/AN/A421352
2022-03-30$73.01$74.0026.2%7.0%30.0%6.7%22.8%1.9%-2.8%20.2K-736.5K-1.4K0.50121.69N/AN/A421352
2022-03-31$72.65$74.0029.6%6.7%29.2%8.9%21.7%2.2%-11.8%20.3K-728.7K-1.4K0.50122.33N/AN/A421352