PWB Options History — April 2022

In April 2022, PWB traded between $63.98 and $73.17. ATM implied volatility averaged 35.1%, placing in the 12.6% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 8.2% (HV 20d: 26.9%). Max pain ranged from $74.00 to $74.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.10.

Notable Days

2022-04-06: Highest Volume — 81 contracts
2022-04-11: Largest IV spike — 65.4% change
2022-04-12: Highest IV Rank — 35.2%
2022-04-22: Largest Expected Move — 11.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$68.53	$63.98	$73.17	$71.86	$64.14
Max Pain	$74.00	$74.00	$74.00	$74.00	$74.00
ATM IV	35.1%	24.2%	70.7%	26.3%	36.6%
Expected Move	8.1%	6.4%	11.3%	6.8%	10.5%
HV 20d	26.9%	24.6%	30.4%	29.1%	30.4%
HV 60d	29.6%	28.9%	30.7%	28.9%	30.7%
IV Rank	12.6%	5.4%	35.2%	6.8%	14.3%
IV Percentile	55.0%	31.2%	76.4%	36.4%	68.4%
Term Structure	-0.8%	-11.0%	3.8%	-3.6%	-6.4%
VWIV	27.6%	20.3%	45.4%	20.5%	45.4%
Skew 25d	4.4%	2.5%	9.5%	2.5%	3.6%
Skew 10d	7.1%	1.7%	10.1%	4.6%	9.4%
Call IV 25d	26.0%	20.5%	36.3%	29.5%	36.3%
Put IV 25d	30.3%	23.3%	39.9%	31.9%	39.9%
Bid-Ask Spread %	131.23	121.29	137.93	125.52	135.28
Gamma HHI	0.89	0.80	0.95	0.90	0.93
Net GEX	12.7K	8.9K	25.6K	22.2K	9.7K
Net DEX	-288.2K	-731.5K	-119.5K	-703.7K	-124.0K
Net VEX	-686	-1.4K	-450	-1.4K	-450
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.10	0.03	0.50	0.50	0.03
Total Volume	58.95	0	81	6	72
Total OI	70.75	53	137	137	53

Daily Data (20 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
2022-04-01	$71.86	$74.00	26.3%	6.8%	29.1%	6.8%	20.5%	2.5%	-3.6%	22.2K	-703.7K	-1.4K	0.50	125.52	N/A	N/A	4	2	135	2
2022-04-04	$73.17	$74.00	33.1%	6.4%	26.8%	11.1%	22.4%	4.3%	1.7%	21.4K	-731.5K	-1.4K	0.50	134.91	N/A	N/A	4	2	135	2
2022-04-05	$71.67	$74.00	37.1%	6.8%	28.3%	13.7%	22.7%	4.6%	1.5%	22.9K	-692.7K	-1.4K	0.50	134.72	N/A	N/A	4	2	135	2
2022-04-06	$70.56	$74.00	36.4%	7.0%	26.8%	13.2%	22.7%	4.8%	-0.0%	25.6K	-644.5K	-1.4K	0.03	132.83	N/A	N/A	79	2	135	2
2022-04-07	$71.31	$74.00	38.4%	6.9%	26.3%	14.5%	22.2%	3.8%	1.6%	12.1K	-330.1K	-730	0.03	130.40	N/A	N/A	70	2	70	2
2022-04-08	$70.84	$74.00	35.1%	7.0%	26.1%	12.4%	20.3%	2.8%	0.7%	9.0K	-232.6K	-521	0.03	127.75	N/A	N/A	70	2	51	2
2022-04-11	$68.96	$74.00	58.0%	8.1%	27.0%	27.1%	25.5%	4.7%	0.3%	9.5K	-203.6K	-541	0.03	136.88	N/A	N/A	70	2	51	2
2022-04-12	$68.17	$74.00	70.7%	8.1%	26.5%	35.2%	26.4%	5.9%	3.2%	8.9K	-194.1K	-543	0.03	135.06	N/A	N/A	70	2	51	2
2022-04-13	$69.72	$74.00	24.7%	7.1%	26.2%	5.8%	25.4%	2.9%	-1.6%	10.2K	-211.5K	-515	0.03	137.93	N/A	N/A	70	2	51	2
2022-04-14	$68.56	$74.00	25.0%	7.2%	25.8%	5.9%	26.8%	3.0%	0.0%	9.7K	-201.4K	-525	0.03	135.02	N/A	N/A	70	2	51	2
2022-04-18	$68.15	$74.00	27.4%	7.8%	24.6%	7.5%	29.0%	5.0%	-0.5%	10.3K	-191.6K	-521	0.03	137.13	N/A	N/A	70	2	51	2
2022-04-19	$69.49	$74.00	24.2%	6.9%	25.8%	5.4%	24.1%	3.6%	1.0%	10.6K	-208.4K	-479	0.03	130.32	N/A	N/A	70	2	51	2
2022-04-20	$69.74	$74.00	25.2%	7.2%	24.9%	6.1%	23.6%	3.9%	0.2%	9.6K	-216.6K	-479	0.03	129.35	N/A	N/A	70	2	51	2
2022-04-21	$67.75	$74.00	26.1%	7.5%	26.4%	6.7%	26.5%	2.6%	-2.2%	10.0K	-187.2K	-491	0.03	121.29	N/A	N/A	70	2	51	2
2022-04-22	$65.94	$74.00	39.3%	11.3%	27.1%	15.1%	31.5%	9.5%	-11.0%	9.8K	-157.4K	-497	0.03	125.92	N/A	N/A	70	2	51	2
2022-04-25	$66.03	$74.00	31.4%	9.0%	27.1%	10.0%	34.5%	3.3%	1.6%	11.7K	-142.3K	-476	0.03	123.66	N/A	N/A	70	2	51	2
2022-04-26	$63.98	$74.00	38.5%	11.0%	28.0%	15.6%	37.3%	4.2%	-3.4%	10.3K	-125.4K	-461	0.03	126.01	N/A	N/A	70	2	51	2
2022-04-27	$64.33	$74.00	35.7%	10.2%	26.3%	13.7%	0.0%	5.2%	-2.6%	9.9K	-119.5K	-454	0.00	136.85	N/A	N/A	0	0	51	2
2022-04-28	$66.20	$74.00	32.4%	9.3%	28.9%	11.4%	37.0%	6.9%	3.8%	11.2K	-146.0K	-464	0.03	127.75	N/A	N/A	70	2	51	2
2022-04-29	$64.14	$74.00	36.6%	10.5%	30.4%	14.3%	45.4%	3.6%	-6.4%	9.7K	-124.0K	-450	0.03	135.28	N/A	N/A	70	2	51	2