PWB Options History — May 2023

In May 2023, PWB traded between $63.81 and $66.56. ATM implied volatility averaged 16.6%, placing in the 2.9% IV rank vs the trailing year. The 30-day expected move averaged 4.8%. IV traded above realized volatility by 1.9% (HV 20d: 14.7%). Max pain ranged from $67.00 to $67.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 19 of 22 days.

Notable Days

  • 2023-05-10: Largest IV drop — 13.0% change
  • 2023-05-31: Highest IV Rank — 7.3%
  • 2023-05-04: Largest Expected Move — 5.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$65.29$63.81$66.56$65.57$66.28
Max Pain$67.00$67.00$67.00$67.00$67.00
ATM IV16.6%14.5%19.2%15.6%18.3%
Expected Move4.8%4.2%5.4%4.5%5.2%
HV 20d14.7%12.8%15.4%12.8%14.2%
HV 60d15.7%15.2%16.1%15.4%15.7%
IV Rank2.9%0.0%7.3%0.0%7.3%
IV Percentile3.4%0.0%11.9%0.0%11.9%
Term Structure1.2%-2.3%3.5%0.2%1.8%
Skew 25d2.4%1.0%4.7%1.0%2.1%
Skew 10d3.4%2.1%4.4%2.9%3.7%
Call IV 25d14.7%13.0%18.1%16.7%18.1%
Put IV 25d17.1%15.3%20.2%17.7%20.2%
Bid-Ask Spread %116.18111.66119.85119.85115.80
Gamma HHI0.430.370.510.390.38
Net GEX4.7K3.7K6.0K4.8K5.5K
Net DEX-33.1K-42.8K-25.5K-38.9K-38.5K
Net VEX-172-202-149-202-164
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI1717171717

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$65.57$0.0015.6%4.5%12.8%0.0%0.0%1.0%0.2%4.8K-38.9K-2020.00119.85N/AN/A00170
2023-05-02$64.53$0.0016.5%4.7%13.6%1.8%0.0%2.0%0.2%4.1K-31.4K-1810.00118.14N/AN/A00170
2023-05-03$64.41$0.0018.3%5.3%13.3%5.4%0.0%1.2%-1.9%4.1K-30.9K-1790.00117.14N/AN/A00170
2023-05-04$63.81$67.0018.3%5.4%13.7%5.4%0.0%4.7%1.5%3.7K-27.6K-1680.00111.66N/AN/A00170
2023-05-05$65.06$67.0016.3%5.0%15.4%1.3%0.0%4.6%2.5%4.3K-32.5K-1820.00112.40N/AN/A00170
2023-05-08$65.09$67.0018.3%5.0%15.4%5.3%0.0%2.7%2.3%4.4K-33.2K-1800.00116.56N/AN/A00170
2023-05-09$64.98$67.0019.2%5.0%15.3%7.1%0.0%2.8%2.1%4.5K-33.6K-1820.00116.56N/AN/A00170
2023-05-10$65.19$67.0016.7%4.8%15.3%2.2%0.0%2.3%3.5%4.5K-31.8K-1760.00113.19N/AN/A00170
2023-05-11$64.83$67.0016.7%4.8%14.6%2.1%0.0%2.4%3.4%4.6K-32.0K-1720.00112.97N/AN/A00170
2023-05-12$64.87$67.0016.9%4.9%14.6%2.7%0.0%2.4%3.2%4.4K-32.1K-1760.00112.97N/AN/A00170
2023-05-15$65.09$67.0016.0%4.6%14.7%0.7%0.0%2.5%2.6%4.5K-30.8K-1700.00117.97N/AN/A00170
2023-05-16$64.84$67.0015.9%4.6%14.6%0.7%0.0%2.4%2.5%4.3K-28.8K-1600.00117.71N/AN/A00170
2023-05-17$65.42$67.0015.2%4.3%14.9%0.0%0.0%1.8%2.9%4.7K-30.8K-1660.00116.19N/AN/A00170
2023-05-18$66.19$67.0014.5%4.2%15.4%0.0%0.0%2.4%0.5%5.2K-34.7K-1690.00115.72N/AN/A00170
2023-05-19$66.17$67.0015.0%4.3%15.4%0.9%0.0%2.3%0.5%5.4K-37.4K-1750.00119.00N/AN/A00170
2023-05-22$65.97$67.0015.3%4.4%15.4%1.5%0.0%1.8%0.3%5.5K-37.0K-1730.00118.11N/AN/A00170
2023-05-23$64.94$67.0016.1%4.6%15.1%3.1%0.0%1.5%0.5%4.8K-29.3K-1590.00116.64N/AN/A00170
2023-05-24$64.53$67.0016.3%4.7%14.9%3.3%0.0%2.8%0.2%4.0K-25.5K-1490.00119.13N/AN/A00170
2023-05-25$65.42$67.0017.1%4.9%14.3%5.0%0.0%2.5%-0.3%4.6K-29.0K-1530.00116.76N/AN/A00170
2023-05-26$66.56$67.0016.5%4.7%15.4%3.8%0.0%4.1%0.7%5.6K-39.2K-1700.00115.81N/AN/A00170
2023-05-30$66.55$67.0017.2%4.9%15.4%5.1%0.0%1.1%-2.3%6.0K-42.8K-1680.00115.68N/AN/A00170
2023-05-31$66.28$67.0018.3%5.2%14.2%7.3%0.0%2.1%1.8%5.5K-38.5K-1640.00115.80N/AN/A00170