A Options History — April 2023

In April 2023, A traded between $129.90 and $141.45. ATM implied volatility averaged 25.0%, placing in the 5.1% IV rank vs the trailing year. The 30-day expected move averaged 7.3%. IV traded below realized volatility by 2.6% (HV 20d: 27.7%). Max pain ranged from $135.00 to $140.00. Net GEX was positive for 3 of 19 trading days. Term structure was in contango for 19 of 19 days. Put/call ratio averaged 1.48.

Notable Days

  • 2023-04-06: Highest Volume — 2,613 contracts
  • 2023-04-25: Largest IV spike — 21.9% change
  • 2023-04-25: Highest IV Rank — 16.8%
  • 2023-04-10: Largest Expected Move — 8.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$137.24$129.90$141.45$137.91$135.22
Max Pain$139.21$135.00$140.00$135.00$140.00
ATM IV25.0%23.1%28.2%24.2%24.0%
Expected Move7.3%6.6%8.3%6.9%6.9%
HV 20d27.7%21.3%32.0%31.2%32.0%
HV 60d27.8%26.6%29.9%29.1%29.1%
IV Rank5.1%0.0%16.8%0.8%2.9%
IV Percentile3.7%0.0%19.8%0.4%1.6%
Term Structure2.4%0.9%4.7%2.3%3.8%
VWIV26.3%23.3%29.5%26.1%24.0%
Skew 25d5.3%4.5%6.6%5.3%4.5%
Skew 10d10.9%7.9%13.4%10.6%7.9%
Call IV 25d23.8%22.0%26.3%23.2%22.0%
Put IV 25d29.1%26.4%32.0%28.5%26.4%
Bid-Ask Spread %65.0153.5178.1665.9276.31
Gamma HHI0.160.130.400.150.16
Net GEX-727.1K-3.4M673.9K-263.0K-1.4M
Net DEX6.5M-7.9M28.8M3.6M13.4M
Net VEX-272.1K-284.0K-252.7K-273.4K-278.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.480.084.173.063.49
Total Volume820.8421372,6135801,060
Total OI16,425.57914,40017,58814,40017,542

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$137.91$135.0024.2%6.9%31.2%0.8%26.1%5.3%2.3%-263.0K3.6M-273.4K3.0665.92N/AN/A1434376,4687,932
2023-04-04$137.84$135.0024.8%7.1%30.8%2.8%26.1%4.7%2.4%-416.3K5.1M-284.0K1.0169.49N/AN/A73746,5358,234
2023-04-05$138.50$135.0025.3%7.2%30.8%4.3%26.9%5.1%1.8%-235.9K3.0M-277.2K1.9269.19N/AN/A2094016,5448,271
2023-04-06$137.68$140.0023.6%7.6%30.5%0.0%28.0%5.8%2.6%-591.0K5.8M-281.6K0.5659.44N/AN/A1,6799346,5418,620
2023-04-10$137.38$140.0027.2%8.3%28.7%12.3%27.0%5.5%0.9%-511.1K5.9M-279.0K0.3361.68N/AN/A6322067,5138,711
2023-04-11$138.67$140.0024.7%7.6%28.7%3.7%29.5%5.7%2.2%-204.8K2.0M-276.1K1.1559.74N/AN/A1992287,4818,817
2023-04-12$138.24$140.0026.9%7.7%28.6%11.2%25.9%5.3%1.6%-378.8K3.2M-273.8K0.4056.09N/AN/A2751107,5538,934
2023-04-13$141.45$140.0026.6%7.6%26.6%10.1%27.1%4.9%1.4%673.9K-7.9M-277.6K0.8853.51N/AN/A3973497,7148,981
2023-04-14$139.13$140.0025.4%7.3%25.8%6.1%24.5%4.9%2.2%-280.7K306.9K-275.6K0.0862.55N/AN/A641527,7579,139
2023-04-17$139.91$140.0025.1%7.2%24.0%5.1%26.7%5.1%2.2%15.2K-4.5M-267.4K1.3657.09N/AN/A58797,8759,163
2023-04-18$139.16$140.0024.4%7.0%24.0%2.6%27.7%5.3%2.6%51.0K-2.5M-264.5K4.1755.87N/AN/A1144757,8839,168
2023-04-19$138.91$140.0024.1%6.9%22.9%1.8%28.1%6.6%2.4%-316.4K2.0M-265.0K2.7872.51N/AN/A511427,9119,451
2023-04-20$135.20$140.0025.7%7.4%24.1%7.0%25.5%5.3%1.8%-3.4M15.6M-258.0K0.7871.57N/AN/A2271777,9379,500
2023-04-21$137.90$140.0023.7%6.8%21.4%0.3%23.3%4.5%2.6%-882.2K3.1M-262.4K0.0872.16N/AN/A1,8321428,0469,542
2023-04-24$138.25$140.0023.1%6.6%21.3%0.0%23.7%5.1%3.4%-452.9K3.2M-264.0K0.9858.86N/AN/A7507367,1798,370
2023-04-25$129.90$140.0028.2%8.1%30.9%16.8%27.5%5.8%1.5%-1.7M28.8M-252.7K2.9061.03N/AN/A4731,3737,4378,714
2023-04-26$132.81$140.0025.6%7.3%31.9%8.3%26.2%5.1%3.1%-1.6M21.3M-281.2K0.8978.16N/AN/A2762477,6069,656
2023-04-27$133.42$140.0023.5%6.7%31.6%1.2%25.3%6.1%4.7%-1.9M21.4M-278.1K1.4074.05N/AN/A1442017,6809,681
2023-04-28$135.22$140.0024.0%6.9%32.0%2.9%24.0%4.5%3.8%-1.4M13.4M-278.3K3.4976.31N/AN/A2368247,7559,787