VAW Options History — February 2020

In February 2020, VAW traded between $112.03 and $132.55. ATM implied volatility averaged 18.7%, placing in the 21.6% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded below realized volatility by 0.7% (HV 20d: 19.4%). Max pain ranged from $125.00 to $135.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 1.55.

Notable Days

  • 2020-02-03: Highest Volume — 214 contracts
  • 2020-02-24: Largest IV spike — 39.3% change
  • 2020-02-28: Highest IV Rank — 57.0%
  • 2020-02-28: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$127.97$112.03$132.55$127.78$112.03
Max Pain$126.00$125.00$135.00$125.00$125.00
ATM IV18.7%12.8%33.1%17.7%33.1%
Expected Move5.4%3.7%9.5%5.1%9.5%
HV 20d19.4%14.8%29.7%14.8%29.7%
HV 60d13.9%11.5%19.7%11.5%19.7%
IV Rank21.6%7.2%57.0%19.2%57.0%
IV Percentile55.5%16.3%98.8%66.3%98.8%
Term Structure-1.5%-9.8%2.1%-1.4%-7.4%
VWIV14.0%9.5%17.7%9.5%17.7%
Skew 25d3.8%-1.6%8.8%7.0%-1.6%
Skew 10d5.3%-4.4%17.4%17.4%-2.7%
Call IV 25d16.8%12.9%30.2%17.7%30.2%
Put IV 25d20.6%14.9%29.0%24.7%28.6%
Bid-Ask Spread %85.5850.35123.77117.92110.98
Gamma HHI0.500.350.880.410.88
Net GEX-78.4K-188.6K-29.5K-54.0K-170.8K
Net DEX519.1K-167.8K3.3M308.6K3.3M
Net VEX-9.0K-12.9K-6.9K-7.3K-12.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.550.0014.2914.290.00
Total Volume14.78902142144
Total OI664.211482709482621

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-02-03$127.78$125.0017.7%5.1%14.8%19.2%9.5%7.0%-1.4%-54.0K308.6K-7.3K14.29117.92N/AN/A14200108374
2020-02-04$130.06$125.0012.8%3.7%16.0%7.2%15.1%5.1%2.1%-57.8K173.2K-9.0K0.00111.08N/AN/A160117574
2020-02-05$132.55$125.0015.2%4.4%17.4%13.0%13.9%2.0%0.7%-34.9K-113.1K-8.3K0.00109.85N/AN/A10110574
2020-02-06$132.23$0.0013.7%4.5%17.4%9.1%0.0%4.1%-0.5%-33.7K-113.9K-8.1K0.0053.45N/AN/A00111574
2020-02-07$130.28$0.0015.2%4.5%18.3%12.9%0.0%3.6%0.1%-66.5K242.6K-8.8K0.0053.77N/AN/A100111574
2020-02-10$129.89$0.0015.0%4.6%18.2%12.6%0.0%4.3%-0.2%-70.2K174.4K-8.9K0.0050.35N/AN/A30120574
2020-02-11$131.24$0.0014.9%4.7%18.1%12.2%0.0%3.6%-0.8%-44.6K-70.1K-8.2K0.0054.14N/AN/A00123574
2020-02-12$131.73$0.0014.5%4.1%18.1%11.2%0.0%4.4%1.8%-29.5K-167.8K-8.1K0.8055.24N/AN/A54123574
2020-02-13$131.23$0.0015.1%4.3%18.1%12.8%0.0%4.2%0.0%-34.8K-124.1K-8.1K0.0064.05N/AN/A02123578
2020-02-14$131.13$0.0015.1%4.3%17.9%12.8%0.0%4.3%0.1%-40.9K-64.4K-8.0K0.0067.43N/AN/A00123580
2020-02-18$130.77$0.0015.2%4.4%17.9%13.0%0.0%5.2%0.6%-51.6K-28.7K-7.7K0.0064.85N/AN/A00123580
2020-02-19$131.31$0.0014.8%4.2%17.6%12.0%13.9%2.7%0.4%-31.1K-140.4K-6.9K0.0072.39N/AN/A50123580
2020-02-20$131.20$135.0018.3%5.3%17.5%20.7%17.7%8.8%-2.7%-29.6K-100.5K-7.6K2.0095.17N/AN/A12128580
2020-02-21$130.83$125.0016.3%4.7%17.5%15.7%0.0%1.1%0.6%-42.1K-8.2K-7.6K0.00111.04N/AN/A00127582
2020-02-24$127.23$125.0022.7%6.5%19.9%31.5%0.0%3.3%-2.6%-145.3K891.9K-9.5K0.00123.77N/AN/A2048559
2020-02-25$121.98$125.0027.7%7.9%24.2%43.7%0.0%7.1%-3.2%-182.8K1.6M-11.4K0.00104.41N/AN/A11050559
2020-02-26$121.23$125.0028.6%8.2%23.9%45.9%0.0%2.6%-5.7%-188.6K1.7M-12.3K0.0096.23N/AN/A1061559
2020-02-27$116.68$125.0029.6%8.5%26.9%48.6%0.0%1.1%-9.8%-179.9K2.4M-12.9K0.00109.83N/AN/A0062559
2020-02-28$112.03$125.0033.1%9.5%29.7%57.0%0.0%-1.6%-7.4%-170.8K3.3M-12.5K0.00110.98N/AN/A0462559