USMV Options History — April 2023

In April 2023, USMV traded between $72.38 and $74.16. ATM implied volatility averaged 12.3%, placing in the 2.7% IV rank vs the trailing year. The 30-day expected move averaged 3.6%. IV traded above realized volatility by 1.7% (HV 20d: 10.7%). Max pain ranged from $60.00 to $70.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 1.91.

Notable Days

2023-04-03: Highest Volume — 84 contracts
2023-04-27: Largest IV drop — 13.5% change
2023-04-03: Highest IV Rank — 7.3%
2023-04-10: Largest Expected Move — 4.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$73.48	$72.38	$74.16	$73.05	$73.69
Max Pain	$65.47	$60.00	$70.00	$68.00	$70.00
ATM IV	12.3%	10.7%	13.3%	13.2%	10.7%
Expected Move	3.6%	3.1%	4.2%	3.8%	3.1%
HV 20d	10.7%	7.4%	14.1%	14.1%	10.0%
HV 60d	11.3%	10.9%	12.4%	12.4%	11.2%
IV Rank	2.7%	0.0%	7.3%	7.3%	0.0%
IV Percentile	1.8%	0.0%	7.1%	3.6%	0.0%
Term Structure	0.7%	-0.8%	4.4%	0.5%	0.8%
VWIV	13.0%	8.5%	17.8%	15.1%	8.5%
Skew 25d	4.2%	2.6%	7.2%	3.6%	7.2%
Skew 10d	8.3%	1.8%	11.5%	7.3%	4.9%
Call IV 25d	10.1%	6.1%	12.0%	11.2%	6.1%
Put IV 25d	14.3%	12.2%	16.2%	14.8%	13.3%
Bid-Ask Spread %	67.40	50.76	97.73	68.00	50.76
Gamma HHI	0.15	0.11	0.29	0.17	0.12
Net GEX	180.2K	110.2K	258.8K	149.9K	110.2K
Net DEX	-2.0M	-2.4M	-1.4M	-1.6M	-1.5M
Net VEX	-4.2K	-4.7K	-3.6K	-3.8K	-4.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.91	0.00	19.00	0.00	0.00
Total Volume	13.263	0	84	84	8
Total OI	545.053	456	638	456	553

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
2023-04-03	$73.05	$68.00	13.2%	3.8%	14.1%	7.3%	15.1%	3.6%	0.5%	149.9K	-1.6M	-3.8K	0.00	68.00	N/A	N/A	84	0	417	39
2023-04-04	$72.72	$68.00	13.0%	3.7%	13.5%	5.8%	0.0%	2.6%	0.7%	199.1K	-1.9M	-4.4K	0.00	66.60	N/A	N/A	0	0	496	39
2023-04-05	$73.28	$68.00	12.9%	3.7%	13.7%	5.7%	0.0%	3.0%	1.4%	194.6K	-2.1M	-4.4K	0.00	63.14	N/A	N/A	4	0	496	39
2023-04-06	$73.41	$70.00	13.0%	4.1%	12.8%	5.8%	0.0%	5.0%	-0.1%	188.4K	-2.1M	-4.5K	0.50	67.57	N/A	N/A	4	2	498	39
2023-04-10	$73.38	$70.00	13.0%	4.2%	11.4%	0.8%	0.0%	4.5%	0.3%	197.5K	-2.1M	-4.2K	0.00	65.30	N/A	N/A	0	0	502	39
2023-04-11	$73.69	$70.00	12.0%	3.8%	11.2%	0.0%	0.0%	4.4%	0.2%	197.9K	-2.2M	-3.9K	0.00	54.03	N/A	N/A	19	0	502	39
2023-04-12	$73.63	$70.00	13.3%	3.8%	11.3%	4.8%	0.0%	3.8%	-0.8%	208.8K	-2.3M	-4.1K	0.00	61.72	N/A	N/A	2	0	511	39
2023-04-13	$74.16	$70.00	13.1%	3.7%	11.3%	3.8%	14.7%	4.6%	-0.0%	209.9K	-2.4M	-3.6K	0.15	79.71	N/A	N/A	13	2	513	39
2023-04-14	$73.69	$60.00	11.8%	3.4%	11.1%	0.0%	11.9%	4.0%	0.7%	215.1K	-2.4M	-4.0K	0.00	70.32	N/A	N/A	5	0	519	37
2023-04-17	$73.85	$60.00	11.9%	3.4%	10.1%	0.4%	10.5%	3.9%	0.5%	196.9K	-2.4M	-3.8K	0.00	58.56	N/A	N/A	8	0	518	37
2023-04-18	$73.84	$60.00	11.7%	3.3%	9.7%	0.0%	10.7%	3.4%	0.5%	207.9K	-2.4M	-3.9K	0.00	63.26	N/A	N/A	3	0	525	37
2023-04-19	$73.63	$60.00	11.4%	3.3%	9.8%	0.0%	0.0%	3.8%	0.4%	208.6K	-2.4M	-3.7K	0.00	64.36	N/A	N/A	2	0	525	37
2023-04-20	$73.41	$60.00	12.6%	3.6%	9.3%	4.4%	0.0%	4.3%	-0.1%	258.8K	-2.3M	-3.8K	19.00	64.94	N/A	N/A	1	19	525	37
2023-04-21	$73.68	$60.00	12.1%	3.5%	8.2%	2.4%	11.9%	2.8%	-0.1%	211.0K	-2.3M	-4.3K	0.00	97.73	N/A	N/A	28	0	525	113
2023-04-24	$73.85	$60.00	11.6%	3.3%	7.4%	0.5%	15.0%	5.3%	-0.5%	121.0K	-1.6M	-4.0K	0.08	63.52	N/A	N/A	13	1	406	105
2023-04-25	$73.38	$60.00	12.1%	3.5%	7.9%	2.5%	17.8%	4.7%	1.8%	119.0K	-1.4M	-4.4K	0.67	77.14	N/A	N/A	12	8	415	106
2023-04-26	$72.38	$70.00	13.2%	3.8%	9.6%	6.3%	13.7%	4.4%	4.4%	110.7K	-1.4M	-4.6K	1.00	71.94	N/A	N/A	1	1	424	114
2023-04-27	$73.31	$70.00	11.4%	3.3%	10.0%	0.0%	8.5%	5.3%	2.4%	117.8K	-1.4M	-4.7K	11.00	72.07	N/A	N/A	1	11	425	126
2023-04-28	$73.69	$70.00	10.7%	3.1%	10.0%	0.0%	0.0%	7.2%	0.8%	110.2K	-1.5M	-4.5K	0.00	50.76	N/A	N/A	8	0	428	125