VAW Options History — February 2024

In February 2024, VAW traded between $179.95 and $193.36. ATM implied volatility averaged 13.7%, placing in the 18.0% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded below realized volatility by 2.6% (HV 20d: 16.2%). Max pain ranged from $183.00 to $186.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.49.

Notable Days

2024-02-16: Highest Volume — 21 contracts
2024-02-05: Largest IV spike — 32.4% change
2024-02-13: Highest IV Rank — 23.7%
2024-02-05: Largest Expected Move — 4.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$186.68	$179.95	$193.36	$185.04	$193.36
Max Pain	$184.70	$183.00	$186.00	$186.00	$185.00
ATM IV	13.7%	11.1%	15.3%	13.4%	13.8%
Expected Move	4.0%	3.5%	4.6%	4.0%	3.9%
HV 20d	16.2%	12.0%	18.1%	12.0%	17.1%
HV 60d	14.4%	13.0%	14.8%	14.2%	14.5%
IV Rank	18.0%	8.8%	23.7%	17.0%	18.4%
IV Percentile	16.0%	0.4%	39.3%	9.1%	17.5%
Term Structure	0.3%	-1.6%	1.5%	0.1%	-1.1%
VWIV	13.6%	11.4%	15.1%	15.1%	11.4%
Skew 25d	2.3%	0.5%	4.3%	2.1%	0.5%
Skew 10d	4.0%	1.1%	6.0%	4.3%	2.9%
Call IV 25d	12.6%	10.9%	14.0%	12.2%	10.9%
Put IV 25d	14.9%	11.4%	17.0%	14.3%	11.4%
Bid-Ask Spread %	67.08	46.21	99.71	49.90	99.71
Gamma HHI	0.16	0.12	0.32	0.12	0.17
Net GEX	112.2K	44.4K	230.9K	151.8K	86.3K
Net DEX	-1.0M	-1.5M	-545.6K	-1.0M	-1.4M
Net VEX	-3.4K	-4.1K	-3.1K	-3.1K	-3.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.49	0.00	2.00	0.00	2.00
Total Volume	6.15	0	21	1	3
Total OI	164.45	113	197	171	143

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
2024-02-01	$185.04	$186.00	13.4%	4.0%	12.0%	17.0%	0.0%	2.1%	0.1%	151.8K	-1.0M	-3.1K	0.00	49.90	N/A	N/A	1	0	138	33
2024-02-02	$183.97	$186.00	11.1%	4.0%	12.2%	8.8%	0.0%	2.0%	0.6%	151.7K	-1.0M	-3.2K	0.00	47.57	N/A	N/A	10	0	139	33
2024-02-05	$179.95	$186.00	14.7%	4.6%	14.3%	21.8%	0.0%	3.3%	-0.8%	80.1K	-545.6K	-3.1K	0.00	59.74	N/A	N/A	0	1	149	33
2024-02-06	$182.00	$186.00	14.0%	4.3%	14.9%	19.0%	15.1%	3.2%	0.2%	109.1K	-777.9K	-3.1K	0.44	46.60	N/A	N/A	9	4	150	34
2024-02-07	$183.41	$184.00	14.3%	4.1%	14.6%	20.2%	0.0%	2.9%	0.9%	132.7K	-939.9K	-3.4K	0.00	48.67	N/A	N/A	0	1	154	35
2024-02-08	$183.36	$184.00	14.1%	4.1%	14.6%	19.7%	0.0%	4.3%	0.5%	133.5K	-939.1K	-3.3K	2.00	56.68	N/A	N/A	1	2	154	34
2024-02-09	$183.58	$184.00	13.8%	3.9%	14.6%	18.3%	14.3%	2.9%	1.0%	129.1K	-927.0K	-3.3K	0.29	46.21	N/A	N/A	7	2	153	36
2024-02-12	$185.87	$183.00	14.4%	4.1%	15.3%	20.7%	14.4%	2.1%	1.5%	195.5K	-1.2M	-3.2K	0.00	52.21	N/A	N/A	11	0	157	38
2024-02-13	$181.88	$184.00	15.3%	4.4%	16.6%	23.7%	15.0%	3.0%	0.9%	55.9K	-699.6K	-3.1K	0.00	51.76	N/A	N/A	0	4	155	40
2024-02-14	$183.81	$184.00	13.8%	4.0%	16.8%	18.5%	0.0%	2.0%	1.5%	129.5K	-896.0K	-3.2K	0.00	56.79	N/A	N/A	0	2	155	42
2024-02-15	$187.28	$184.00	14.4%	4.1%	17.9%	20.7%	0.0%	2.0%	0.5%	202.6K	-1.4M	-3.1K	0.00	64.15	N/A	N/A	8	0	155	40
2024-02-16	$188.18	$184.00	14.4%	4.1%	17.9%	20.5%	14.2%	2.1%	0.6%	230.9K	-1.5M	-3.2K	0.50	70.95	N/A	N/A	14	7	156	40
2024-02-20	$187.20	$184.00	14.2%	4.1%	18.0%	19.8%	13.6%	3.0%	-0.3%	44.4K	-759.4K	-3.6K	1.00	76.42	N/A	N/A	1	1	85	28
2024-02-21	$188.19	$185.00	14.1%	4.1%	18.1%	19.7%	0.0%	2.3%	0.9%	45.6K	-818.2K	-3.5K	0.00	71.16	N/A	N/A	0	0	86	29
2024-02-22	$190.71	$185.00	12.3%	3.5%	17.9%	13.2%	13.5%	2.3%	-0.8%	47.4K	-950.8K	-3.4K	0.07	78.66	N/A	N/A	15	1	86	29
2024-02-23	$191.75	$185.00	12.7%	3.6%	17.9%	14.6%	11.7%	0.5%	1.4%	63.5K	-1.2M	-3.9K	0.13	86.67	N/A	N/A	8	1	101	29
2024-02-26	$191.09	$185.00	12.9%	3.7%	18.0%	15.1%	13.8%	2.5%	-0.4%	83.0K	-1.2M	-4.1K	0.00	90.89	N/A	N/A	0	5	109	30
2024-02-27	$191.46	$185.00	12.6%	3.6%	18.0%	14.2%	12.2%	1.1%	0.4%	82.8K	-1.2M	-4.0K	0.00	93.89	N/A	N/A	3	0	109	30
2024-02-28	$191.41	$185.00	13.0%	3.7%	17.9%	15.6%	0.0%	1.4%	-1.6%	89.0K	-1.3M	-4.1K	0.00	93.04	N/A	N/A	0	1	112	30
2024-02-29	$193.36	$185.00	13.8%	3.9%	17.1%	18.4%	11.4%	0.5%	-1.1%	86.3K	-1.4M	-3.9K	2.00	99.71	N/A	N/A	1	2	112	31