PWB Options History — November 2025 In November 2025, PWB traded between $119.96 and $130.89. ATM implied volatility averaged 22.7%, placing in the 24.1% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded above realized volatility by 2.3% (HV 20d: 20.4%). Max pain ranged from $120.00 to $130.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 0.00.
Notable Days 2025-11-12 : Highest Volume — 80 contracts2025-11-10 : Largest IV drop — 22.7% change2025-11-20 : Highest IV Rank — 35.2%2025-11-20 : Largest Expected Move — 8.0%Monthly Statistics Metric Avg Min Max Open Close Price $125.91 $119.96 $130.89 $130.89 $126.73 Max Pain $121.58 $120.00 $130.00 $130.00 $120.00 ATM IV 22.7% 18.3% 27.8% 20.6% 21.3% Expected Move 6.5% 5.2% 8.0% 5.9% 6.1% HV 20d 20.4% 17.2% 23.4% 17.2% 23.3% HV 60d 15.5% 12.6% 17.5% 12.6% 17.4% IV Rank 24.1% 14.5% 35.2% 19.6% 21.2% IV Percentile 81.9% 65.5% 96.0% 75.4% 75.4% Term Structure -0.5% -3.2% 2.7% -0.0% -1.9% VWIV 24.0% 24.0% 24.0% 24.0% 24.0% Skew 25d 8.2% 1.9% 14.6% 5.5% 1.9% Skew 10d 4.5% -1.3% 7.4% -0.6% 2.8% Call IV 25d 16.8% 13.6% 23.3% 15.1% 15.8% Put IV 25d 25.0% 17.6% 31.8% 20.6% 17.6% Bid-Ask Spread % 102.46 96.07 110.64 109.62 107.68 Gamma HHI 0.33 0.17 0.53 0.52 0.21 Net GEX 72.9K 53.7K 96.1K 67.6K 68.8K Net DEX -1.0M -1.3M -717.6K -1.2M -1.1M Net VEX -3.5K -4.2K -2.7K -2.7K -3.7K Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.00 0.00 0.00 0.00 0.00 Total Volume 6.421 0 80 0 0 Total OI 158.895 135 177 135 154
Daily Data (19 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 2025-11-03 $130.89 $130.00 20.6% 5.9% 17.2% 19.6% 0.0% 5.5% -0.0% 67.6K -1.2M -2.7K 0.00 109.62 N/A N/A 0 0 134 1 2025-11-04 $128.44 $130.00 21.1% 6.0% 18.6% 20.6% 0.0% 5.7% -0.5% 71.1K -1.1M -2.8K 0.00 110.28 N/A N/A 0 0 134 1 2025-11-05 $129.53 $130.00 18.3% 5.2% 18.1% 14.5% 0.0% 8.0% 0.0% 75.0K -1.1M -2.8K 0.00 110.64 N/A N/A 0 0 134 1 2025-11-06 $126.70 $120.00 21.6% 6.5% 19.7% 21.8% 24.0% 8.9% 0.3% 70.3K -956.5K -2.8K 0.00 99.74 N/A N/A 40 0 134 1 2025-11-07 $126.69 $120.00 23.6% 6.8% 17.4% 26.1% 0.0% 12.3% -0.7% 76.3K -1.0M -3.4K 0.00 97.49 N/A N/A 0 0 154 1 2025-11-10 $129.82 $120.00 18.3% 5.8% 19.0% 14.5% 0.0% 6.9% 2.1% 87.8K -1.3M -3.2K 0.00 102.63 N/A N/A 0 2 154 1 2025-11-11 $128.81 $120.00 20.3% 5.6% 19.2% 19.0% 0.0% 9.1% 2.7% 91.0K -1.2M -3.2K 0.00 103.82 N/A N/A 0 0 154 3 2025-11-12 $128.95 $120.00 21.3% 6.1% 18.8% 21.1% 0.0% 9.2% 0.9% 96.1K -1.2M -3.2K 0.00 103.98 N/A N/A 80 0 154 3 2025-11-13 $125.72 $120.00 23.8% 6.8% 20.7% 26.6% 0.0% 7.3% -1.8% 81.1K -1.1M -4.2K 0.00 100.18 N/A N/A 0 0 174 3 2025-11-14 $125.78 $120.00 23.0% 6.6% 20.7% 24.8% 0.0% 9.7% 0.2% 85.4K -1.1M -4.2K 0.00 99.19 N/A N/A 0 0 174 3 2025-11-17 $123.62 $120.00 25.4% 7.3% 21.2% 30.1% 0.0% 3.9% -1.8% 70.2K -933.8K -4.0K 0.00 98.97 N/A N/A 0 0 174 3 2025-11-18 $122.81 $120.00 26.7% 7.7% 21.2% 32.8% 0.0% 14.6% -3.2% 65.9K -878.1K -3.9K 0.00 96.07 N/A N/A 0 0 174 3 2025-11-19 $123.08 $120.00 26.2% 7.5% 20.8% 31.8% 0.0% 12.4% -1.8% 64.0K -869.5K -3.9K 0.00 96.54 N/A N/A 0 0 174 3 2025-11-20 $119.96 $120.00 27.8% 8.0% 21.6% 35.2% 0.0% 10.9% 1.1% 53.7K -717.6K -3.7K 0.00 97.28 N/A N/A 0 0 174 3 2025-11-21 $120.72 $120.00 26.2% 7.5% 21.1% 31.7% 0.0% 8.3% -2.8% 57.9K -734.0K -3.6K 0.00 100.49 N/A N/A 0 0 174 3 2025-11-24 $123.42 $120.00 22.7% 6.5% 22.3% 24.2% 0.0% 10.6% -0.8% 65.1K -858.9K -3.7K 0.00 101.39 N/A N/A 0 0 151 3 2025-11-25 $124.41 $120.00 21.7% 6.2% 22.6% 22.0% 0.0% 4.8% -1.7% 67.1K -906.7K -3.7K 0.00 104.26 N/A N/A 0 0 151 3 2025-11-26 $126.21 $120.00 20.7% 5.9% 23.4% 19.7% 0.0% 5.5% 0.1% 70.0K -1.0M -3.8K 0.00 106.58 N/A N/A 0 0 151 3 2025-11-28 $126.73 $120.00 21.3% 6.1% 23.3% 21.2% 0.0% 1.9% -1.9% 68.8K -1.1M -3.7K 0.00 107.68 N/A N/A 0 0 151 3
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