USMV Options History — April 2022

In April 2022, USMV traded between $73.84 and $79.28. ATM implied volatility averaged 17.3%, placing in the 54.0% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded above realized volatility by 3.9% (HV 20d: 13.4%). Max pain ranged from $74.00 to $75.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.61.

Notable Days

2022-04-28: Highest Volume — 320 contracts
2022-04-11: Largest IV spike — 55.1% change
2022-04-27: Highest IV Rank — 80.8%
2022-04-27: Largest Expected Move — 6.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$77.32	$73.84	$79.28	$77.79	$73.84
Max Pain	$74.70	$74.00	$75.00	$75.00	$74.00
ATM IV	17.3%	11.4%	22.9%	11.9%	22.6%
Expected Move	5.0%	3.9%	6.6%	4.0%	6.5%
HV 20d	13.4%	11.2%	18.2%	15.4%	18.2%
HV 60d	15.6%	15.2%	16.8%	15.3%	16.8%
IV Rank	54.0%	26.1%	80.8%	28.6%	79.1%
IV Percentile	78.7%	48.4%	93.3%	54.4%	92.5%
Term Structure	0.6%	-1.6%	3.1%	2.4%	0.0%
VWIV	14.9%	13.0%	16.9%	13.6%	16.0%
Skew 25d	6.1%	-0.9%	9.9%	-0.9%	7.0%
Skew 10d	11.1%	1.5%	19.6%	7.7%	14.3%
Call IV 25d	14.2%	11.5%	19.0%	13.7%	18.4%
Put IV 25d	20.2%	12.8%	27.4%	12.8%	25.4%
Bid-Ask Spread %	83.59	75.28	103.59	87.52	103.59
Gamma HHI	0.15	0.11	0.20	0.14	0.14
Net GEX	89.6K	60.3K	151.5K	73.4K	74.9K
Net DEX	-993.2K	-1.4M	-372.6K	-1.0M	-432.4K
Net VEX	-7.6K	-8.9K	-6.6K	-6.9K	-8.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.61	0.09	0.99	0.60	0.48
Total Volume	236.5	12	320	237	302
Total OI	678.95	588	780	588	780

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	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2022-04-01	$77.79	$75.00	11.9%	4.0%	15.4%	28.6%	13.6%	-0.9%	2.4%	73.4K	-1.0M	-6.9K	0.60	87.52	N/A	N/A	148	89	369	219
2022-04-04	$78.12	$75.00	13.2%	3.9%	14.7%	34.6%	13.0%	4.1%	3.1%	77.7K	-1.1M	-6.6K	0.70	76.24	N/A	N/A	130	91	369	219
2022-04-05	$77.98	$75.00	11.4%	4.3%	12.6%	26.1%	13.5%	4.7%	-0.2%	65.7K	-1.2M	-6.7K	0.76	88.10	N/A	N/A	121	92	380	221
2022-04-06	$78.29	$75.00	13.4%	4.7%	11.7%	35.6%	15.3%	7.8%	1.2%	75.3K	-1.2M	-6.9K	0.87	76.30	N/A	N/A	111	97	380	222
2022-04-07	$79.08	$75.00	15.8%	4.5%	11.5%	46.8%	16.6%	7.6%	1.4%	61.0K	-1.3M	-6.8K	0.81	81.50	N/A	N/A	105	85	377	227
2022-04-08	$79.28	$75.00	13.9%	4.4%	11.2%	37.7%	16.1%	6.5%	1.5%	61.0K	-1.4M	-7.0K	0.82	82.57	N/A	N/A	104	85	396	230
2022-04-11	$78.20	$75.00	21.5%	4.9%	12.5%	73.9%	16.8%	6.6%	0.5%	79.0K	-1.3M	-7.1K	0.89	80.78	N/A	N/A	96	85	397	230
2022-04-12	$77.66	$75.00	21.9%	4.8%	12.0%	75.8%	16.9%	6.4%	2.4%	77.5K	-1.1M	-7.0K	0.99	80.47	N/A	N/A	86	85	397	230
2022-04-13	$78.32	$75.00	15.7%	4.5%	12.0%	46.4%	14.2%	6.2%	2.7%	60.3K	-1.2M	-6.7K	0.54	83.56	N/A	N/A	179	96	398	230
2022-04-14	$77.94	$75.00	15.6%	4.5%	11.4%	45.9%	14.4%	5.6%	-0.3%	136.7K	-1.4M	-7.8K	0.52	85.26	N/A	N/A	188	97	490	242
2022-04-18	$77.02	$75.00	16.6%	4.8%	12.0%	50.7%	13.8%	5.8%	0.7%	98.5K	-717.0K	-7.6K	0.49	81.88	N/A	N/A	184	91	423	236
2022-04-19	$78.15	$75.00	15.1%	4.3%	12.8%	43.6%	13.4%	5.5%	0.3%	122.7K	-1.0M	-7.7K	0.67	81.02	N/A	N/A	143	96	437	236
2022-04-20	$78.60	$75.00	13.9%	4.0%	12.7%	37.8%	13.5%	6.2%	0.7%	151.5K	-1.3M	-8.5K	0.53	83.90	N/A	N/A	180	96	488	241
2022-04-21	$77.77	$75.00	16.6%	4.8%	12.8%	50.9%	15.1%	2.3%	0.2%	138.6K	-1.2M	-8.9K	0.54	83.22	N/A	N/A	180	97	504	240
2022-04-22	$76.33	$74.00	19.9%	5.7%	14.6%	66.5%	16.4%	7.3%	0.1%	101.9K	-736.8K	-8.5K	0.53	78.14	N/A	N/A	182	97	503	241
2022-04-25	$76.19	$74.00	20.5%	5.9%	14.5%	69.5%	13.6%	9.9%	-0.8%	98.4K	-619.8K	-8.2K	0.55	80.89	N/A	N/A	175	97	506	241
2022-04-26	$74.93	$74.00	22.8%	6.5%	15.2%	80.1%	16.3%	8.6%	-1.3%	73.6K	-372.6K	-8.0K	0.47	75.28	N/A	N/A	210	98	510	241
2022-04-27	$74.94	$74.00	22.9%	6.6%	14.2%	80.8%	0.0%	6.7%	-1.6%	75.4K	-444.7K	-8.4K	0.09	84.36	N/A	N/A	11	1	518	242
2022-04-28	$76.01	$74.00	20.6%	5.9%	15.4%	69.8%	15.4%	7.4%	-0.9%	89.0K	-600.1K	-8.5K	0.44	97.18	N/A	N/A	222	98	527	242
2022-04-29	$73.84	$74.00	22.6%	6.5%	18.2%	79.1%	16.0%	7.0%	0.0%	74.9K	-432.4K	-8.5K	0.48	103.59	N/A	N/A	204	98	538	242