A Options History — March 2023

In March 2023, A traded between $130.31 and $144.16. ATM implied volatility averaged 30.0%, placing in the 21.6% IV rank vs the trailing year. The 30-day expected move averaged 8.2%. IV traded below realized volatility by 0.1% (HV 20d: 30.1%). Max pain ranged from $135.00 to $150.00. Net GEX was positive for 1 of 23 trading days. Term structure was in contango for 19 of 23 days. Put/call ratio averaged 0.84.

Notable Days

  • 2023-03-01: Highest Volume — 1,936 contracts
  • 2023-03-13: Largest IV spike — 20.6% change
  • 2023-03-13: Highest IV Rank — 70.8%
  • 2023-03-15: Largest Expected Move — 9.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$136.44$130.31$144.16$136.78$138.37
Max Pain$138.70$135.00$150.00$150.00$135.00
ATM IV30.0%24.0%44.6%28.7%24.4%
Expected Move8.2%6.9%9.3%8.2%7.0%
HV 20d30.1%25.8%34.6%26.1%31.3%
HV 60d27.5%26.1%29.2%26.1%29.2%
IV Rank21.6%1.2%70.8%17.3%1.3%
IV Percentile31.7%0.4%98.8%21.0%0.4%
Term Structure0.7%-1.2%2.2%-1.2%2.2%
VWIV28.2%22.5%32.6%27.6%24.7%
Skew 25d5.5%2.6%6.8%4.1%4.6%
Skew 10d11.2%3.8%16.9%6.5%9.5%
Call IV 25d26.4%22.6%30.3%26.4%23.4%
Put IV 25d31.9%25.8%37.0%30.6%28.0%
Bid-Ask Spread %66.9250.8080.3670.7865.33
Gamma HHI0.140.110.180.120.15
Net GEX-606.2K-1.0M35.9K-795.5K-374.7K
Net DEX15.3M1.3M26.8M19.8M4.4M
Net VEX-264.3K-280.2K-250.3K-260.1K-280.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.840.032.380.650.35
Total Volume535.4781481,9361,936497
Total OI14,128.43512,55715,74613,73914,201

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$136.78$150.0028.7%8.2%26.1%17.3%27.6%4.1%-1.2%-795.5K19.8M-260.1K0.6570.78N/AN/A1,1757615,9107,829
2023-03-02$141.34$150.0027.3%7.8%25.8%12.3%27.1%3.3%-1.1%-247.7K8.1M-273.3K0.4269.15N/AN/A4071706,2727,922
2023-03-03$144.16$150.0024.0%6.9%27.2%1.2%24.9%2.6%0.2%35.9K1.3M-267.8K2.3867.41N/AN/A1593786,1687,958
2023-03-06$142.92$140.0025.2%6.9%27.2%5.2%22.5%4.6%0.9%-166.1K6.0M-264.7K0.1470.58N/AN/A551776,1697,982
2023-03-07$140.62$140.0027.5%7.4%27.4%13.2%24.2%4.7%0.6%-369.3K9.6M-264.7K0.0363.55N/AN/A724246,4358,014
2023-03-08$140.75$140.0028.1%7.4%26.6%15.1%25.5%5.0%1.4%-250.3K8.5M-270.4K1.2550.80N/AN/A1822286,6978,031
2023-03-09$138.87$140.0032.1%7.9%26.6%28.7%29.2%5.1%0.6%-409.3K12.0M-272.7K1.1164.62N/AN/A84936,7868,037
2023-03-10$135.00$140.0037.0%8.8%27.6%45.1%30.2%6.5%-0.0%-759.3K21.6M-265.2K0.6165.06N/AN/A150916,8088,083
2023-03-13$136.36$140.0044.6%9.0%28.1%70.8%29.6%6.4%-0.1%-612.8K18.1M-268.9K0.6266.02N/AN/A2891806,8668,002
2023-03-14$137.63$140.0035.7%8.3%27.7%40.9%28.0%6.2%0.4%-583.3K14.7M-262.0K0.7559.24N/AN/A6374796,9248,024
2023-03-15$133.04$140.0032.4%9.3%29.5%29.6%32.6%6.7%0.4%-865.7K24.3M-253.1K2.0264.58N/AN/A3176397,1668,037
2023-03-16$136.73$135.0030.4%8.7%31.9%22.9%28.9%6.1%0.5%-935.5K19.1M-269.8K0.7969.14N/AN/A2141707,1538,474
2023-03-17$133.32$135.0031.0%8.9%32.2%25.1%30.2%6.3%0.6%-698.1K26.8M-262.5K0.5467.74N/AN/A3121687,2118,535
2023-03-20$134.55$135.0030.6%8.8%32.6%23.6%29.2%6.4%0.7%-611.6K16.3M-255.9K0.1265.54N/AN/A180225,3327,225
2023-03-21$137.32$135.0029.4%8.4%32.3%19.4%27.9%6.6%0.9%-382.4K10.7M-263.8K0.9864.16N/AN/A1221195,4617,220
2023-03-22$134.82$135.0029.0%8.3%32.7%18.1%29.4%6.1%1.3%-580.5K15.5M-257.0K0.5680.36N/AN/A147825,5247,258
2023-03-23$130.31$135.0031.8%9.1%34.3%27.5%31.6%6.8%0.6%-882.0K24.2M-250.3K0.5871.20N/AN/A4272465,6207,269
2023-03-24$131.41$135.0031.0%8.9%34.4%24.9%31.0%6.2%1.2%-833.0K21.0M-262.0K1.4774.33N/AN/A60885,9137,459
2023-03-27$133.22$135.0028.2%8.1%34.6%15.5%30.6%6.1%1.8%-817.4K17.8M-258.4K0.8967.10N/AN/A2302055,9297,494
2023-03-28$132.32$135.0030.5%8.7%34.6%23.2%29.4%5.4%0.8%-1.0M21.0M-261.5K0.6466.45N/AN/A2481586,0467,695
2023-03-29$134.09$135.0025.9%7.4%32.5%7.7%28.0%5.5%1.6%-874.1K15.8M-259.4K1.5570.51N/AN/A2113276,0987,653
2023-03-30$134.14$135.0026.1%7.5%30.0%8.4%26.3%5.1%1.7%-917.9K15.1M-274.6K0.8965.59N/AN/A1521366,2637,801
2023-03-31$138.37$135.0024.4%7.0%31.3%1.3%24.7%4.6%2.2%-374.7K4.4M-280.2K0.3565.33N/AN/A3691286,3057,896