A Options History — December 2021

In December 2021, A traded between $148.12 and $161.26. ATM implied volatility averaged 26.4%, placing in the 43.3% IV rank vs the trailing year. The 30-day expected move averaged 7.5%. IV traded below realized volatility by 1.7% (HV 20d: 28.1%). Max pain ranged from $150.00 to $155.00. Net GEX was positive for 16 of 22 trading days. Term structure was in contango for 20 of 22 days. Put/call ratio averaged 1.55.

Notable Days

  • 2021-12-17: Highest Volume — 4,551 contracts
  • 2021-12-15: Largest IV drop — 22.5% change
  • 2021-12-03: Highest IV Rank — 83.6%
  • 2021-12-03: Largest Expected Move — 10.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$154.78$148.12$161.26$149.90$160.58
Max Pain$153.41$150.00$155.00$155.00$155.00
ATM IV26.4%21.8%36.1%31.5%21.8%
Expected Move7.5%6.2%10.4%9.0%6.2%
HV 20d28.1%22.8%31.4%29.1%22.9%
HV 60d25.0%24.0%25.9%24.7%24.0%
IV Rank43.3%23.9%83.6%64.4%23.9%
IV Percentile57.3%27.0%96.8%90.5%27.0%
Term Structure1.8%-3.5%5.1%-2.4%2.4%
VWIV26.0%21.1%34.3%32.5%24.1%
Skew 25d4.0%2.3%5.4%2.3%4.1%
Skew 10d7.1%1.2%11.6%3.5%4.9%
Call IV 25d24.9%20.6%32.1%32.1%20.6%
Put IV 25d28.8%24.4%37.2%34.4%24.7%
Bid-Ask Spread %78.3557.5584.5661.5257.55
Gamma HHI0.160.120.220.120.19
Net GEX783.7K-2.3M3.0M215.8K2.7M
Net DEX-10.3M-46.3M19.1M7.1M-38.8M
Net VEX-363.3K-396.7K-328.6K-393.8K-347.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.550.533.821.051.79
Total Volume2,836.7272,2384,5512,4642,778
Total OI30,523.525,72534,28231,92827,617

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-12-01$149.90$155.0031.5%9.0%29.1%64.4%32.5%2.3%-2.4%215.8K7.1M-393.8K1.0561.52N/AN/A1,1991,26518,07813,850
2021-12-02$151.11$155.0030.0%8.6%29.3%58.2%31.5%5.2%2.4%240.8K2.8M-394.4K1.3866.71N/AN/A9951,37718,05913,929
2021-12-03$148.12$155.0036.1%10.4%30.0%83.6%34.3%5.4%-3.5%-332.4K14.4M-396.7K1.3370.68N/AN/A1,0161,35218,10414,084
2021-12-06$151.68$150.0031.3%8.1%31.4%63.5%27.7%3.9%4.8%166.2K821.6K-380.3K1.1275.78N/AN/A1,1381,27918,09714,145
2021-12-07$153.34$150.0025.5%7.3%29.3%39.3%24.8%4.3%1.8%370.5K-5.1M-355.9K1.4181.39N/AN/A1,0261,44218,05714,139
2021-12-08$155.99$150.0023.0%7.2%30.1%28.9%26.3%2.9%2.7%1.2M-16.8M-351.1K1.2278.83N/AN/A1,1721,42518,05214,190
2021-12-09$154.81$150.0024.2%7.6%30.2%34.2%25.5%3.6%5.1%758.5K-9.7M-357.0K1.4682.23N/AN/A9091,32918,26414,287
2021-12-10$155.97$150.0024.8%6.9%30.3%36.6%22.7%3.6%2.4%1.3M-13.6M-351.5K1.4680.10N/AN/A9291,35418,23914,301
2021-12-13$156.70$150.0028.2%7.1%30.0%50.5%24.5%3.6%2.6%2.0M-19.9M-357.1K1.0381.94N/AN/A1,4701,52018,27714,325
2021-12-14$151.87$150.0032.4%7.7%31.4%68.3%25.7%4.0%1.9%-627.8K4.9M-328.6K1.8978.99N/AN/A1,4862,80418,69014,245
2021-12-15$153.66$155.0025.1%7.2%29.9%37.9%26.0%5.3%1.9%-743.7K3.2M-366.4K1.6083.90N/AN/A9391,49818,66515,536
2021-12-16$150.93$155.0026.9%7.7%30.4%45.1%26.5%3.3%0.3%-2.3M19.1M-342.6K1.6380.59N/AN/A8851,44418,68415,508
2021-12-17$151.79$155.0026.6%7.6%30.5%43.8%26.8%4.2%1.2%-1.4M10.2M-360.7K0.5382.01N/AN/A2,9821,56918,77815,504
2021-12-20$150.45$155.0029.0%8.3%30.0%53.9%28.7%3.9%1.0%-58.4K11.4M-343.0K0.9882.42N/AN/A2,0111,96312,50313,222
2021-12-21$153.24$155.0025.4%7.3%31.1%39.1%26.2%4.7%2.2%894.0K-2.1M-368.0K2.7183.24N/AN/A7972,16313,46113,584
2021-12-22$156.39$155.0024.8%7.1%24.5%36.5%23.8%5.0%2.6%1.3M-17.7M-383.3K1.4382.81N/AN/A1,1941,71313,42014,097
2021-12-23$158.35$155.0022.8%6.5%24.3%28.4%23.2%3.9%3.9%1.8M-27.6M-381.4K1.7578.76N/AN/A8991,57013,25214,172
2021-12-27$158.53$155.0023.1%6.6%24.3%29.6%23.6%4.3%2.8%1.8M-27.7M-361.6K1.6582.23N/AN/A8801,45613,27914,271
2021-12-28$159.31$155.0022.7%6.5%24.3%27.6%24.7%2.4%1.2%2.0M-32.2M-363.7K3.8284.56N/AN/A8383,20313,32614,371
2021-12-29$161.21$155.0023.9%6.9%22.9%32.8%22.8%3.7%0.3%3.0M-46.3M-345.8K1.8383.26N/AN/A8871,62013,32214,056
2021-12-30$161.26$155.0022.5%6.5%22.8%27.0%21.1%3.7%2.2%2.9M-43.9M-362.6K0.9884.11N/AN/A1,3271,30513,29114,186
2021-12-31$160.58$155.0021.8%6.2%22.9%23.9%24.1%4.1%2.4%2.7M-38.8M-347.3K1.7957.55N/AN/A9971,78113,32014,297