PWB Options History — March 2025 In March 2025, PWB traded between $94.40 and $102.55. ATM implied volatility averaged 22.0%, placing in the 31.5% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded below realized volatility by 3.5% (HV 20d: 25.6%). Max pain ranged from $104.00 to $106.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 1 of 21 days.
Notable Days 2025-03-11 : Largest IV drop — 27.9% change2025-03-10 : Highest IV Rank — 60.5%2025-03-11 : Largest Expected Move — 9.6%Monthly Statistics Metric Avg Min Max Open Close Price $98.29 $94.40 $102.55 $102.12 $96.21 Max Pain $104.46 $104.00 $106.00 $104.00 $106.00 ATM IV 22.0% 17.3% 31.7% 24.6% 23.4% Expected Move 6.5% 5.0% 9.6% 7.0% 5.4% HV 20d 25.6% 15.7% 32.1% 15.9% 32.0% HV 60d 21.8% 18.8% 23.8% 19.0% 23.8% IV Rank 31.5% 17.4% 60.5% 39.1% 35.5% IV Percentile 87.6% 65.1% 99.2% 96.0% 93.7% Term Structure -1.7% -6.1% 0.0% -3.4% -6.1% Skew 25d 4.3% 0.2% 7.8% 5.7% 7.8% Skew 10d 4.7% 2.1% 8.7% 4.9% 4.8% Call IV 25d 16.7% 14.5% 20.4% 17.1% 18.5% Put IV 25d 21.0% 16.6% 26.3% 22.8% 26.3% Bid-Ask Spread % 116.34 97.10 132.49 114.26 121.05 Gamma HHI 0.71 0.50 1.00 0.55 1.00 Net GEX 125 -500 515 -369 271 Net DEX 4.1K -3.2K 8.3K 2.2K -1.3K Net VEX -16 -31 -9 -31 -10 Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% Total Volume 0 0 0 0 0 Total OI 1.714 1 2 2 1
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 2025-03-03 $102.12 $104.00 24.6% 7.0% 15.9% 39.1% 0.0% 5.7% -3.4% -369 2.2K -31 0.00 114.26 N/A N/A 0 0 1 1 2025-03-04 $101.79 $104.00 23.5% 6.7% 15.9% 35.9% 0.0% 7.0% -3.5% -400 2.5K -30 0.00 117.65 N/A N/A 0 0 1 1 2025-03-05 $102.55 $104.00 21.8% 6.3% 15.7% 30.9% 0.0% 7.1% -0.3% -500 1.6K -30 0.00 117.34 N/A N/A 0 0 1 1 2025-03-06 $98.68 $104.00 26.0% 7.5% 20.1% 43.6% 0.0% 4.4% -1.5% -109 5.8K -22 0.00 115.55 N/A N/A 0 0 1 1 2025-03-07 $98.48 $104.00 25.1% 7.2% 19.7% 40.6% 0.0% 7.3% -1.6% -58 6.8K -19 0.00 118.31 N/A N/A 0 0 1 1 2025-03-10 $94.83 $104.00 31.7% 9.1% 22.8% 60.5% 0.0% 4.5% -2.5% 87 7.8K -12 0.00 115.93 N/A N/A 0 0 1 1 2025-03-11 $95.59 $104.00 22.8% 9.6% 22.6% 33.9% 0.0% 6.9% -1.8% 98 8.0K -13 0.00 126.19 N/A N/A 0 0 1 1 2025-03-12 $96.46 $104.00 23.3% 8.0% 23.3% 35.2% 0.0% 7.4% -1.6% 154 8.0K -12 0.00 129.56 N/A N/A 0 0 1 1 2025-03-13 $94.40 $104.00 23.9% 8.0% 23.9% 37.1% 0.0% 4.0% -1.6% 189 8.3K -10 0.00 128.99 N/A N/A 0 0 1 1 2025-03-14 $96.72 $104.00 21.0% 6.7% 25.7% 28.3% 0.0% 2.2% -3.2% 223 8.2K -11 0.00 132.49 N/A N/A 0 0 1 1 2025-03-17 $98.80 $106.00 20.2% 5.5% 27.4% 26.1% 0.0% 3.0% -1.2% 79 7.2K -16 0.00 97.10 N/A N/A 0 0 1 1 2025-03-18 $96.55 $106.00 21.1% 5.7% 28.0% 28.7% 0.0% 1.2% -1.3% 236 8.3K -10 0.00 98.31 N/A N/A 0 0 1 1 2025-03-19 $98.87 $106.00 19.2% 5.4% 30.0% 23.1% 0.0% 3.8% -0.0% 139 7.4K -15 0.00 99.66 N/A N/A 0 0 1 1 2025-03-20 $98.44 $0.00 19.9% 5.5% 29.9% 25.2% 0.0% 3.0% -1.4% 189 7.7K -14 0.00 114.32 N/A N/A 0 0 1 1 2025-03-21 $98.23 $0.00 19.6% 5.5% 28.6% 24.2% 0.0% 5.9% -0.4% 316 8.0K -13 0.00 109.60 N/A N/A 0 0 1 1 2025-03-24 $100.85 $0.00 18.1% 5.1% 30.6% 19.6% 0.0% 2.5% 0.0% 494 -3.0K -17 0.00 116.11 N/A N/A 0 0 1 0 2025-03-25 $101.15 $0.00 17.3% 5.0% 30.4% 17.4% 0.0% 2.1% -0.2% 515 -3.2K -18 0.00 119.94 N/A N/A 0 0 1 0 2025-03-26 $98.90 $0.00 19.4% 5.3% 31.2% 23.4% 0.0% 0.2% -0.5% 413 -2.1K -13 0.00 117.19 N/A N/A 0 0 1 0 2025-03-27 $98.72 $0.00 19.0% 5.2% 30.7% 22.4% 0.0% 2.1% -0.8% 402 -1.9K -13 0.00 119.17 N/A N/A 0 0 1 0 2025-03-28 $95.75 $0.00 21.6% 5.7% 32.1% 30.3% 0.0% 2.2% -1.7% 250 -1.1K -9 0.00 114.35 N/A N/A 0 0 1 0 2025-03-31 $96.21 $0.00 23.4% 5.4% 32.0% 35.5% 0.0% 7.8% -6.1% 271 -1.3K -10 0.00 121.05 N/A N/A 0 0 1 0
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