A Options History — May 2023

In May 2023, A traded between $115.93 and $136.20. ATM implied volatility averaged 28.3%, placing in the 21.9% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded below realized volatility by 2.0% (HV 20d: 30.3%). Max pain ranged from $125.00 to $140.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.08.

Notable Days

  • 2023-05-24: Highest Volume — 4,909 contracts
  • 2023-05-24: Largest IV drop — 22.9% change
  • 2023-05-23: Highest IV Rank — 48.1%
  • 2023-05-23: Largest Expected Move — 9.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$127.68$115.93$136.20$136.20$115.93
Max Pain$132.73$125.00$140.00$140.00$125.00
ATM IV28.3%24.8%33.4%25.0%26.6%
Expected Move8.3%7.2%9.6%7.2%7.6%
HV 20d30.3%21.2%33.6%30.0%28.7%
HV 60d29.6%28.8%31.6%29.1%29.9%
IV Rank21.9%5.7%48.1%6.2%16.5%
IV Percentile27.7%4.4%70.2%4.8%14.3%
Term Structure-1.0%-5.8%4.0%4.0%-1.2%
VWIV29.3%23.8%34.8%25.2%23.8%
Skew 25d5.6%3.5%7.2%4.4%4.3%
Skew 10d11.5%7.0%14.7%9.4%7.7%
Call IV 25d27.2%23.2%32.0%23.2%24.9%
Put IV 25d32.7%27.3%38.1%27.6%29.2%
Bid-Ask Spread %57.4019.9571.6924.1163.98
Gamma HHI0.210.140.280.160.28
Net GEX-2.0M-2.8M-427.6K-1.8M-1.6M
Net DEX31.4M11.4M47.9M15.9M41.7M
Net VEX-250.9K-285.9K-222.6K-283.0K-222.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.080.224.570.362.31
Total Volume1,091.5451394,9091701,183
Total OI17,706.63612,71019,22518,25116,964

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$136.20$140.0025.0%7.2%30.0%6.2%25.2%4.4%4.0%-1.8M15.9M-283.0K0.3624.11N/AN/A125457,88010,371
2023-05-02$134.48$140.0026.1%7.5%30.3%10.1%27.2%4.6%3.6%-2.0M22.6M-277.8K0.4869.44N/AN/A190927,91010,387
2023-05-03$135.24$140.0027.0%7.7%30.4%12.8%26.0%4.3%3.3%-1.9M19.6M-283.6K0.3671.69N/AN/A106388,00710,455
2023-05-04$133.94$135.0028.4%9.0%30.4%17.5%32.6%6.7%-1.5%-1.9M23.2M-285.9K0.2257.78N/AN/A278618,03810,487
2023-05-05$133.31$135.0024.8%8.6%30.4%5.7%29.7%6.5%-1.2%-2.5M27.6M-272.1K0.3660.17N/AN/A129477,95410,515
2023-05-08$132.63$135.0025.1%8.6%30.4%6.8%31.3%6.7%-1.1%-2.8M30.1M-260.1K0.8160.91N/AN/A77627,98010,528
2023-05-09$127.10$135.0029.9%9.4%33.4%22.7%30.6%6.6%-1.4%-2.7M47.9M-243.2K1.8053.41N/AN/A3816857,98310,548
2023-05-10$128.02$135.0029.7%8.5%33.6%22.1%29.5%6.6%-0.6%-2.5M41.6M-242.5K0.4559.92N/AN/A8613888,25010,304
2023-05-11$127.29$135.0031.7%9.1%32.1%31.6%30.8%5.9%-0.9%-2.3M43.9M-243.5K0.9961.96N/AN/A96958,47510,498
2023-05-12$127.81$135.0029.6%8.5%32.0%28.5%32.8%6.0%-0.8%-2.4M42.7M-238.2K0.6768.63N/AN/A1971318,47710,489
2023-05-15$127.84$135.0028.6%8.2%31.8%24.3%28.5%6.1%-0.2%-2.3M43.5M-234.4K0.3867.49N/AN/A3021148,47810,552
2023-05-16$126.53$135.0031.8%9.1%31.9%40.4%29.6%6.0%-2.2%-2.4M46.3M-228.3K4.5766.70N/AN/A2881,3168,54910,546
2023-05-17$127.53$135.0028.7%8.2%32.2%26.3%30.9%5.9%-0.9%-2.6M33.0M-235.2K3.4367.47N/AN/A3261,1198,64910,043
2023-05-18$129.28$130.0029.7%8.5%31.6%31.0%34.2%7.2%-3.5%-2.6M26.7M-244.5K0.7862.73N/AN/A4693678,69910,333
2023-05-19$128.89$130.0031.7%9.1%30.5%40.0%30.8%6.1%-5.0%-2.4M27.3M-244.7K0.3363.39N/AN/A1,9646398,71010,515
2023-05-22$129.17$130.0032.6%9.3%30.5%44.2%32.9%6.3%-5.6%-483.8K11.4M-249.4K0.9851.10N/AN/A3923845,8916,819
2023-05-23$128.65$130.0033.4%9.6%21.2%48.1%34.8%6.2%-5.8%-427.6K12.5M-261.1K0.9136.61N/AN/A1,8531,6856,4207,202
2023-05-24$120.78$130.0025.8%7.4%29.2%12.5%25.4%4.3%-0.5%-2.0M36.7M-236.0K1.3219.95N/AN/A2,1202,7897,4078,367
2023-05-25$119.77$125.0025.9%7.4%29.0%13.0%25.9%4.2%-0.8%-1.5M30.4M-247.5K0.7260.65N/AN/A5814208,1788,245
2023-05-26$120.50$125.0025.3%7.2%28.5%10.2%25.0%3.5%-0.1%-1.6M29.2M-251.6K0.4252.07N/AN/A4241768,2268,412
2023-05-30$118.01$125.0025.8%7.4%28.5%12.4%26.0%3.9%-0.7%-1.7M36.7M-234.4K1.2162.72N/AN/A4615588,3648,441
2023-05-31$115.93$125.0026.6%7.6%28.7%16.5%23.8%4.3%-1.2%-1.6M41.7M-222.6K2.3163.98N/AN/A3578268,5988,366