PWB Options History — March 2026

In March 2026, PWB traded between $120.85 and $135.24. ATM implied volatility averaged 25.3%, placing in the 28.9% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 3.3% (HV 20d: 22.0%). Max pain ranged from $100.00 to $123.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 0.00.

Notable Days

2026-03-02: Highest Volume — 3 contracts
2026-03-10: Largest IV drop — 36.9% change
2026-03-30: Highest IV Rank — 41.5%
2026-03-30: Largest Expected Move — 8.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$130.26	$120.85	$135.24	$135.24	$125.87
Max Pain	$111.50	$100.00	$123.00	$100.00	$123.00
ATM IV	25.3%	19.1%	31.0%	23.7%	25.0%
Expected Move	7.0%	5.6%	8.9%	6.8%	7.2%
HV 20d	22.0%	18.5%	30.9%	23.7%	30.9%
HV 60d	21.1%	19.6%	24.9%	19.6%	24.9%
IV Rank	28.9%	15.3%	41.5%	25.6%	28.3%
IV Percentile	85.9%	56.0%	98.4%	85.3%	87.7%
Term Structure	-0.6%	-3.5%	1.9%	-2.7%	-0.2%
VWIV	25.9%	24.3%	28.1%	24.3%	25.2%
Skew 25d	11.1%	4.8%	17.5%	14.5%	9.5%
Skew 10d	8.5%	3.9%	23.1%	6.9%	5.1%
Call IV 25d	17.2%	13.3%	26.8%	14.3%	15.8%
Put IV 25d	28.3%	25.3%	31.5%	28.8%	25.3%
Bid-Ask Spread %	75.79	54.30	109.17	109.17	64.03
Gamma HHI	0.43	0.18	1.00	0.19	0.81
Net GEX	62.3K	6.7K	184.4K	48.9K	8.0K
Net DEX	-845.4K	-1.3M	-118.1K	-1.3M	-153.2K
Net VEX	-786	-1.2K	-426	-1.0K	-498
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	0.45	0	3	3	3
Total OI	88.8	20	118	115	23

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	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2026-03-02	$135.24	$100.00	23.7%	6.8%	23.7%	25.6%	24.3%	14.5%	-2.7%	48.9K	-1.3M	-1.0K	109.17	N/A	N/A	3	0	113	2
2026-03-03	$132.56	$100.00	19.4%	5.6%	24.1%	16.2%	0.0%	9.6%	1.9%	64.9K	-1.1M	-1.2K	106.37	N/A	N/A	0	0	116	2
2026-03-04	$134.67	$100.00	21.5%	6.2%	24.8%	20.7%	0.0%	11.1%	-1.2%	57.6K	-1.3M	-1.0K	108.19	N/A	N/A	0	0	116	2
2026-03-05	$132.50	$0.00	28.6%	6.7%	22.8%	36.3%	0.0%	8.3%	-0.0%	67.6K	-1.1M	-1.2K	82.58	N/A	N/A	0	0	116	2
2026-03-06	$130.53	$0.00	29.9%	7.0%	22.7%	39.1%	0.0%	6.9%	0.7%	72.1K	-1.0M	-1.2K	81.06	N/A	N/A	0	0	116	2
2026-03-09	$132.45	$0.00	30.2%	6.8%	19.4%	39.7%	0.0%	17.5%	0.0%	69.8K	-1.2M	-1.1K	88.00	N/A	N/A	0	0	116	2
2026-03-10	$133.03	$0.00	19.1%	6.6%	18.9%	15.3%	0.0%	12.1%	0.0%	67.7K	-1.3M	-874	92.50	N/A	N/A	0	0	116	2
2026-03-11	$132.66	$0.00	23.2%	6.7%	18.5%	24.5%	0.0%	15.0%	-0.1%	73.2K	-1.2M	-895	93.09	N/A	N/A	0	0	116	2
2026-03-12	$130.25	$0.00	25.6%	0.0%	19.1%	29.6%	0.0%	14.1%	-1.3%	86.2K	-1.1M	-984	63.43	N/A	N/A	0	0	116	2
2026-03-13	$129.37	$0.00	27.3%	0.0%	18.7%	33.3%	0.0%	10.8%	-3.5%	95.7K	-1.0M	-962	61.69	N/A	N/A	0	0	116	2
2026-03-16	$131.26	$0.00	23.7%	6.8%	19.6%	25.5%	0.0%	12.5%	-0.1%	96.5K	-1.2M	-726	63.97	N/A	N/A	0	0	116	2
2026-03-17	$131.97	$0.00	21.8%	6.3%	19.7%	21.3%	0.0%	11.9%	0.7%	86.8K	-1.3M	-624	65.40	N/A	N/A	0	0	116	2
2026-03-19	$130.21	$0.00	24.1%	7.0%	19.9%	26.4%	0.0%	13.0%	-0.2%	131.2K	-1.2M	-585	70.85	N/A	N/A	0	0	116	2
2026-03-20	$127.31	$0.00	28.3%	7.8%	21.3%	35.6%	0.0%	5.9%	-1.0%	184.4K	-765.3K	-501	66.35	N/A	N/A	0	0	116	2
2026-03-23	$130.07	$0.00	25.0%	7.1%	22.6%	28.3%	0.0%	7.9%	-0.5%	6.9K	-185.4K	-430	61.95	N/A	N/A	0	0	20	0
2026-03-24	$129.23	$0.00	25.4%	7.3%	22.2%	29.2%	0.0%	14.9%	-0.6%	6.9K	-175.7K	-449	59.57	N/A	N/A	0	0	20	0
2026-03-25	$129.83	$0.00	24.2%	7.2%	21.4%	26.6%	28.1%	10.3%	-0.8%	6.8K	-183.0K	-426	60.66	N/A	N/A	0	1	20	0
2026-03-26	$125.43	$123.00	28.2%	8.1%	23.4%	35.4%	0.0%	10.9%	-2.0%	6.7K	-152.9K	-468	62.59	N/A	N/A	2	0	20	1
2026-03-30	$120.85	$123.00	31.0%	8.9%	26.1%	41.5%	0.0%	4.8%	-1.6%	7.4K	-118.1K	-490	54.30	N/A	N/A	0	0	22	1
2026-03-31	$125.87	$123.00	25.0%	7.2%	30.9%	28.3%	25.2%	9.5%	-0.2%	8.0K	-153.2K	-498	64.03	N/A	N/A	3	0	22	1