A Options History — February 2023

In February 2023, A traded between $140.78 and $156.05. ATM implied volatility averaged 31.3%, placing in the 26.0% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 5.9% (HV 20d: 25.4%). Max pain ranged from $150.00 to $155.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 0.77.

Notable Days

  • 2023-02-28: Highest Volume — 1,664 contracts
  • 2023-02-06: Largest IV spike — 14.7% change
  • 2023-02-28: Highest IV Rank — 43.8%
  • 2023-02-28: Largest Expected Move — 10.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$149.41$140.78$156.05$156.05$142.12
Max Pain$153.68$150.00$155.00$155.00$150.00
ATM IV31.3%25.9%36.6%27.9%36.6%
Expected Move9.1%8.0%10.5%8.0%10.5%
HV 20d25.4%23.0%29.9%29.8%23.0%
HV 60d29.4%25.1%33.1%33.0%25.1%
IV Rank26.0%7.6%43.8%14.4%43.8%
IV Percentile40.5%4.0%82.1%12.3%82.1%
Term Structure-3.4%-5.8%0.9%0.9%-5.8%
VWIV31.7%27.9%36.4%27.9%36.4%
Skew 25d5.8%4.8%6.8%5.6%4.8%
Skew 10d12.5%9.4%16.0%11.1%11.4%
Call IV 25d29.3%24.3%34.1%24.3%34.1%
Put IV 25d35.1%29.9%39.2%29.9%38.9%
Bid-Ask Spread %59.0950.9665.2564.9058.30
Gamma HHI0.120.090.160.150.11
Net GEX142.4K-489.0K935.3K935.3K-347.3K
Net DEX-3.6M-19.9M11.6M-19.9M8.2M
Net VEX-273.1K-289.2K-267.1K-270.6K-267.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.770.081.980.550.57
Total Volume578.2111041,6641181,664
Total OI13,95811,41015,99013,57012,617

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-02-01$156.05$155.0027.9%8.0%29.8%14.4%27.9%5.6%0.9%935.3K-19.9M-270.6K0.5564.90N/AN/A76425,4748,096
2023-02-02$154.87$155.0027.7%8.5%29.9%13.6%29.2%5.5%-2.7%752.1K-15.8M-268.3K1.1059.54N/AN/A2002205,4838,108
2023-02-03$153.88$155.0025.9%8.4%29.8%7.6%28.5%6.0%-2.2%505.9K-11.7M-268.2K0.2761.28N/AN/A4601245,4598,181
2023-02-06$151.94$155.0029.6%8.9%28.6%20.4%30.7%5.4%-2.6%362.0K-7.1M-269.1K1.8459.05N/AN/A3576565,7778,221
2023-02-07$154.23$155.0027.4%8.6%28.9%12.7%33.0%6.0%-2.3%622.6K-15.0M-270.2K1.8756.52N/AN/A1432686,0598,595
2023-02-08$154.76$155.0030.1%8.6%24.1%22.1%28.2%5.9%-2.4%643.3K-15.2M-284.5K0.2256.50N/AN/A5891286,0388,992
2023-02-09$152.26$155.0032.2%9.2%23.5%28.9%31.1%6.2%-2.9%314.1K-7.4M-289.2K0.7351.36N/AN/A133976,0579,020
2023-02-10$152.28$155.0032.0%9.2%23.3%28.4%31.5%6.5%-3.0%315.5K-8.1M-284.7K0.5360.96N/AN/A68366,1159,086
2023-02-13$154.40$155.0031.0%8.9%23.9%24.9%31.3%6.3%-2.9%571.3K-14.5M-271.7K0.3554.70N/AN/A139496,1539,104
2023-02-14$153.06$155.0030.0%8.6%23.8%21.7%30.8%6.6%-2.4%347.2K-9.1M-273.4K0.6959.92N/AN/A3092146,2039,141
2023-02-15$151.66$155.0031.4%9.0%23.8%26.3%30.0%5.5%-3.5%3.4K-4.6M-267.1K0.0852.52N/AN/A1,3261006,2789,153
2023-02-16$148.66$155.0030.6%8.8%24.8%23.4%29.8%5.9%-4.0%-254.1K3.1M-276.3K0.8064.16N/AN/A1701366,7939,197
2023-02-17$147.76$155.0030.8%8.8%24.3%24.3%30.0%5.5%-3.8%-14.0K3.5M-273.5K0.5062.77N/AN/A5002486,7749,123
2023-02-21$143.32$155.0034.0%9.7%24.6%35.1%34.4%6.8%-4.8%-373.4K7.5M-270.2K0.6465.25N/AN/A4252724,6116,799
2023-02-22$141.72$150.0034.5%9.9%23.8%36.7%35.9%4.9%-4.5%-441.3K9.8M-271.6K1.9860.14N/AN/A2625204,7847,002
2023-02-23$142.81$150.0032.7%9.4%24.1%30.8%32.1%6.1%-4.8%-375.9K7.9M-268.5K0.3660.23N/AN/A181664,8797,190
2023-02-24$140.78$150.0034.8%10.0%24.2%37.7%36.1%5.7%-4.7%-489.0K11.6M-271.0K0.8763.67N/AN/A2342035,0017,239
2023-02-27$142.15$150.0035.9%10.3%24.7%41.6%35.2%5.2%-5.7%-372.3K9.0M-272.6K0.6550.96N/AN/A2251465,1187,282
2023-02-28$142.12$150.0036.6%10.5%23.0%43.8%36.4%4.8%-5.8%-347.3K8.2M-267.9K0.5758.30N/AN/A1,0606045,2487,369