A Options History — January 2023

In January 2023, A traded between $147.70 and $158.57. ATM implied volatility averaged 29.2%, placing in the 19.1% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded above realized volatility by 2.8% (HV 20d: 26.4%). Max pain ranged from $140.00 to $155.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 1.67.

Notable Days

  • 2023-01-31: Highest Volume — 2,037 contracts
  • 2023-01-30: Largest IV spike — 7.5% change
  • 2023-01-03: Highest IV Rank — 28.5%
  • 2023-01-03: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$153.72$147.70$158.57$149.34$150.74
Max Pain$150.75$140.00$155.00$140.00$155.00
ATM IV29.2%27.0%31.2%30.7%28.9%
Expected Move8.4%7.7%8.8%8.8%8.3%
HV 20d26.4%24.4%29.2%25.5%27.2%
HV 60d33.5%32.3%34.9%34.5%32.3%
IV Rank19.1%11.5%28.5%28.5%17.8%
IV Percentile21.4%6.3%35.7%32.9%20.2%
Term Structure-0.1%-1.8%1.5%0.2%1.5%
VWIV29.5%26.8%35.1%30.6%28.3%
Skew 25d4.5%3.5%5.5%4.7%4.9%
Skew 10d9.9%7.6%13.7%9.4%10.9%
Call IV 25d27.5%25.7%29.1%29.1%27.1%
Put IV 25d32.1%29.9%33.8%33.8%32.0%
Bid-Ask Spread %59.2045.4676.0676.0645.46
Gamma HHI0.280.120.840.240.12
Net GEX3.6M402.3K15.9M2.5M402.3K
Net DEX-50.4M-94.9M-7.4M-43.4M-7.4M
Net VEX-237.4K-260.5K-217.5K-260.5K-237.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.670.1014.140.512.96
Total Volume650.91292,0371622,037
Total OI19,116.3510,58324,24022,17212,099

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-01-03$149.34$140.0030.7%8.8%25.5%28.5%30.6%4.7%0.2%2.5M-43.4M-260.5K0.5176.06N/AN/A1075511,66210,510
2023-01-04$150.41$140.0030.1%8.6%24.9%25.4%27.7%5.0%0.1%2.8M-49.0M-255.4K0.4275.30N/AN/A39716511,72110,557
2023-01-05$152.06$150.0030.8%8.7%24.7%24.4%31.9%4.7%-0.7%3.4M-59.3M-253.3K14.1459.25N/AN/A3549511,94210,466
2023-01-06$148.15$150.0029.3%8.5%25.3%19.4%35.1%5.5%-0.1%2.4M-41.2M-246.1K1.8851.86N/AN/A32461011,95210,343
2023-01-09$147.70$150.0031.2%8.7%24.4%25.7%31.6%4.7%-1.1%2.0M-36.2M-234.5K1.6054.24N/AN/A19330812,00310,747
2023-01-10$154.55$150.0029.2%8.5%28.8%19.0%30.5%4.6%-0.6%4.3M-75.1M-241.2K0.3358.10N/AN/A57219112,07710,938
2023-01-11$157.70$150.0029.7%8.5%29.2%20.6%30.9%5.3%-0.7%5.3M-94.9M-245.1K0.8954.38N/AN/A50244612,25411,012
2023-01-12$156.25$150.0029.8%8.5%28.6%20.8%28.9%4.7%-0.2%5.3M-84.9M-252.7K0.4053.30N/AN/A2018112,47511,291
2023-01-13$156.95$150.0028.2%8.1%27.4%15.5%26.8%4.4%0.4%6.3M-88.6M-253.3K0.1059.38N/AN/A9589912,50511,306
2023-01-17$155.46$150.0028.4%8.2%25.9%16.3%28.9%4.3%-0.4%5.7M-79.6M-233.0K1.2956.85N/AN/A19425112,74511,347
2023-01-18$153.90$150.0028.4%8.2%25.7%16.3%30.6%5.3%-0.2%4.4M-68.5M-230.2K0.9360.44N/AN/A676212,76811,302
2023-01-19$153.53$150.0028.9%8.3%25.0%18.0%29.6%4.8%-1.8%3.8M-65.0M-220.5K0.9558.24N/AN/A22521312,78711,315
2023-01-20$155.30$150.0027.8%8.0%25.0%14.2%27.3%3.7%0.8%15.9M-83.0M-217.5K0.4263.08N/AN/A49020712,76611,474
2023-01-23$158.57$155.0027.0%7.7%25.7%11.5%27.9%4.3%0.1%1.3M-29.3M-221.2K1.6950.45N/AN/A1783014,9755,608
2023-01-24$155.00$155.0028.6%8.2%26.9%16.8%28.9%5.1%0.1%986.8K-21.0M-223.0K2.2950.30N/AN/A3187295,0575,698
2023-01-25$155.50$155.0028.7%8.2%26.9%17.1%28.0%4.1%0.1%1.1M-22.6M-225.7K0.3965.25N/AN/A241945,3276,043
2023-01-26$155.85$155.0028.9%8.3%26.9%17.8%29.1%3.6%-0.3%1.2M-23.1M-235.5K0.7260.29N/AN/A104755,4206,226
2023-01-27$155.96$155.0028.2%8.1%26.4%15.4%28.2%3.5%0.4%1.2M-23.6M-233.6K0.6263.87N/AN/A5313285,4796,286
2023-01-30$151.51$155.0030.3%8.7%27.6%22.6%28.3%3.6%0.3%613.7K-11.9M-227.5K0.8167.93N/AN/A3512835,4066,438
2023-01-31$150.74$155.0028.9%8.3%27.2%17.8%28.3%4.9%1.5%402.3K-7.4M-237.6K2.9645.46N/AN/A5151,5225,4136,686