PWB Options History — November 2022

In November 2022, PWB traded between $59.06 and $64.50. ATM implied volatility averaged 33.0%, placing in the 29.2% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded above realized volatility by 5.4% (HV 20d: 27.6%). Max pain ranged from $54.00 to $58.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.27.

Notable Days

2022-11-16: Highest Volume — 9 contracts
2022-11-09: Largest IV drop — 25.7% change
2022-11-07: Highest IV Rank — 48.9%
2022-11-02: Largest Expected Move — 11.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$62.19	$59.06	$64.50	$61.44	$64.50
Max Pain	$54.38	$54.00	$58.00	$58.00	$54.00
ATM IV	33.0%	26.6%	43.3%	37.4%	33.0%
Expected Move	8.9%	7.6%	11.3%	10.7%	9.5%
HV 20d	27.6%	24.1%	31.3%	25.0%	29.3%
HV 60d	27.0%	25.6%	28.5%	25.7%	27.6%
IV Rank	29.2%	17.7%	48.9%	37.8%	27.6%
IV Percentile	52.0%	16.3%	92.9%	82.9%	53.6%
Term Structure	-3.5%	-9.2%	1.3%	-7.8%	-4.5%
VWIV	30.7%	26.7%	33.1%	30.0%	32.9%
Skew 25d	2.4%	1.1%	4.3%	2.2%	3.3%
Skew 10d	3.4%	2.3%	8.1%	3.4%	2.8%
Call IV 25d	31.8%	26.0%	41.6%	38.8%	35.0%
Put IV 25d	34.2%	27.9%	42.7%	41.0%	38.3%
Bid-Ask Spread %	130.18	121.78	138.69	138.69	126.20
Gamma HHI	0.30	0.22	0.38	0.31	0.24
Net GEX	1.2K	729	1.7K	798	1.7K
Net DEX	-21.6K	-33.4K	-11.4K	-16.1K	-31.6K
Net VEX	-80	-140	-22	-29	-137
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.27	0.00	0.50	0.50	0.00
Total Volume	5.19	0	9	3	0
Total OI	7.762	5	11	5	11

Daily Data (21 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
2022-11-01	$61.44	$58.00	37.4%	10.7%	25.0%	37.8%	0.0%	2.2%	-7.8%	798	-16.1K	-29	0.50	138.69	N/A	N/A	2	1	4	1
2022-11-02	$59.73	$58.00	39.5%	11.3%	26.9%	41.8%	0.0%	1.1%	-8.5%	824	-13.2K	-31	0.50	136.30	N/A	N/A	2	1	4	1
2022-11-03	$59.18	$54.00	39.2%	8.9%	26.9%	41.2%	30.0%	2.5%	-1.3%	827	-11.4K	-31	0.50	126.88	N/A	N/A	2	1	4	1
2022-11-04	$59.06	$54.00	40.1%	9.2%	24.1%	42.9%	30.8%	1.9%	-2.6%	822	-11.4K	-30	0.50	125.45	N/A	N/A	2	1	4	1
2022-11-07	$60.04	$54.00	43.3%	8.8%	24.5%	48.9%	31.7%	2.2%	-2.0%	858	-13.1K	-27	0.50	129.67	N/A	N/A	2	1	4	1
2022-11-08	$61.03	$54.00	41.6%	8.6%	24.1%	45.7%	30.5%	1.9%	-1.8%	879	-15.4K	-25	0.50	125.26	N/A	N/A	2	1	4	1
2022-11-09	$59.51	$54.00	30.9%	8.9%	26.2%	25.7%	32.1%	3.3%	-2.0%	892	-12.4K	-27	0.50	129.55	N/A	N/A	2	1	4	1
2022-11-10	$62.74	$54.00	28.2%	8.1%	31.3%	20.6%	29.6%	4.3%	1.3%	729	-18.4K	-22	0.14	128.05	N/A	N/A	7	1	4	1
2022-11-11	$63.26	$54.00	28.6%	8.2%	29.5%	21.4%	27.6%	2.0%	-0.9%	1.3K	-31.9K	-105	0.14	121.78	N/A	N/A	7	1	9	1
2022-11-14	$63.35	$54.00	28.1%	8.1%	28.7%	20.5%	31.1%	2.3%	-0.7%	1.3K	-31.8K	-104	0.14	128.68	N/A	N/A	7	1	9	1
2022-11-15	$63.77	$54.00	29.3%	8.4%	28.7%	22.7%	33.1%	3.0%	-1.3%	1.3K	-33.4K	-109	0.14	131.56	N/A	N/A	7	1	9	1
2022-11-16	$63.17	$54.00	29.8%	8.5%	29.1%	23.7%	29.7%	2.3%	-2.2%	1.0K	-20.6K	-104	0.13	130.69	N/A	N/A	8	1	7	1
2022-11-17	$62.61	$54.00	29.0%	8.3%	29.3%	22.2%	31.0%	2.2%	-1.4%	1.3K	-21.5K	-110	0.13	129.26	N/A	N/A	8	1	8	1
2022-11-18	$63.08	$54.00	29.4%	8.4%	28.4%	23.0%	31.2%	2.9%	-2.2%	1.3K	-23.3K	-110	0.13	131.18	N/A	N/A	8	1	8	1
2022-11-21	$62.65	$54.00	30.5%	8.7%	28.1%	24.9%	32.2%	2.0%	-3.6%	1.3K	-21.8K	-107	0.13	131.04	N/A	N/A	8	1	8	1
2022-11-22	$63.46	$54.00	26.6%	7.6%	28.0%	17.7%	26.7%	3.0%	-2.8%	1.5K	-23.7K	-106	0.13	132.86	N/A	N/A	8	1	8	1
2022-11-23	$63.87	$54.00	29.3%	8.4%	27.8%	22.7%	32.9%	2.2%	-5.3%	1.4K	-25.2K	-110	0.13	132.97	N/A	N/A	8	1	8	1
2022-11-25	$64.03	$54.00	30.5%	8.8%	27.8%	22.9%	0.0%	2.9%	-5.9%	1.4K	-25.3K	-108	0.00	133.84	N/A	N/A	0	0	8	1
2022-11-28	$62.90	$54.00	33.2%	9.5%	27.7%	28.0%	0.0%	1.3%	-9.2%	1.4K	-23.4K	-105	0.00	129.78	N/A	N/A	2	0	8	1
2022-11-29	$62.70	$54.00	35.1%	10.1%	27.7%	31.7%	0.0%	2.2%	-9.1%	1.6K	-28.1K	-140	0.00	134.16	N/A	N/A	0	0	10	1
2022-11-30	$64.50	$54.00	33.0%	9.5%	29.3%	27.6%	0.0%	3.3%	-4.5%	1.7K	-31.6K	-137	0.00	126.20	N/A	N/A	0	0	10	1