A Options History — July 2023

In July 2023, A traded between $117.26 and $128.25. ATM implied volatility averaged 26.9%, placing in the 29.1% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 7.0% (HV 20d: 19.8%). Max pain ranged from $120.00 to $125.00. Net GEX was positive for 3 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 1.27.

Notable Days

  • 2023-07-21: Highest Volume — 4,455 contracts
  • 2023-07-31: Largest IV spike — 12.1% change
  • 2023-07-31: Highest IV Rank — 57.5%
  • 2023-07-31: Largest Expected Move — 9.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$122.09$117.26$128.25$119.40$121.56
Max Pain$121.25$120.00$125.00$120.00$125.00
ATM IV26.9%20.5%33.9%20.5%33.9%
Expected Move7.8%5.9%9.7%5.9%9.7%
HV 20d19.8%18.2%22.3%20.5%22.3%
HV 60d25.9%23.9%27.2%27.2%24.6%
IV Rank29.1%3.8%57.5%3.8%57.5%
IV Percentile32.6%0.8%82.9%0.8%82.9%
Term Structure-2.1%-5.9%3.8%3.8%-5.9%
VWIV28.0%20.6%33.5%20.6%33.5%
Skew 25d3.6%1.6%4.5%1.6%3.6%
Skew 10d7.9%2.1%10.6%2.1%9.2%
Call IV 25d26.3%20.6%31.8%20.6%31.8%
Put IV 25d29.9%22.1%35.4%22.1%35.4%
Bid-Ask Spread %68.4761.1274.8974.8972.18
Gamma HHI0.250.180.360.230.27
Net GEX-1.1M-3.0M1.4M-918.4K-1.7M
Net DEX7.7M-32.6M28.0M17.5M15.5M
Net VEX-259.2K-284.9K-234.8K-255.9K-271.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.270.329.300.381.11
Total Volume1,101.43544,4556171,085
Total OI20,098.0517,24022,93018,42519,416

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-07-03$119.40$120.0020.5%5.9%20.5%3.8%20.6%1.6%3.8%-918.4K17.5M-255.9K0.3874.89N/AN/A4481699,8508,575
2023-07-05$119.60$120.0021.4%6.1%20.4%7.2%21.8%2.2%3.0%-824.6K15.9M-259.4K1.0374.19N/AN/A1741809,9868,642
2023-07-06$118.32$120.0022.1%7.1%20.7%10.3%26.2%4.1%-0.2%-1.3M23.8M-244.5K0.3271.56N/AN/A4221369,9948,768
2023-07-07$117.26$120.0023.3%7.5%20.8%15.0%24.3%3.8%-0.7%-1.5M28.0M-234.8K9.3064.76N/AN/A1731,60910,0378,775
2023-07-10$118.19$120.0023.8%7.3%20.1%16.8%26.8%3.9%-0.9%-2.3M27.1M-244.4K2.2963.12N/AN/A39089510,1559,938
2023-07-11$118.55$120.0023.5%7.3%19.9%15.5%26.6%4.5%-0.8%-2.6M27.7M-250.3K0.4074.04N/AN/A28311310,27910,411
2023-07-12$120.00$120.0025.4%7.3%19.1%23.4%26.5%4.4%-0.8%-1.8M17.3M-249.5K0.5473.60N/AN/A47025210,44910,516
2023-07-13$119.41$120.0025.9%7.4%18.8%25.2%26.6%4.4%-1.4%-2.5M23.4M-248.0K0.3768.81N/AN/A57521310,33010,643
2023-07-14$119.91$120.0025.9%7.4%18.9%25.1%26.5%3.9%-1.1%-1.7M16.1M-254.0K1.0061.12N/AN/A24724710,63710,762
2023-07-17$118.56$120.0026.0%7.4%18.6%25.6%29.4%4.3%-1.7%-3.0M27.4M-247.2K1.3466.67N/AN/A21929410,73710,918
2023-07-18$119.68$120.0027.5%7.9%18.9%31.7%28.3%3.9%-3.1%-2.3M19.2M-249.3K0.5673.15N/AN/A56031510,83111,055
2023-07-19$123.13$120.0028.2%8.1%18.2%34.3%29.2%4.2%-4.2%532.7K-7.3M-254.0K0.4866.34N/AN/A87942511,19511,076
2023-07-20$124.36$120.0028.2%8.1%18.5%34.6%28.9%4.1%-2.5%1.4M-14.6M-254.4K1.4468.84N/AN/A9521,37011,13911,238
2023-07-21$128.06$120.0028.7%8.2%20.7%36.5%30.0%2.8%-3.3%-308.2K-32.6M-261.8K0.6966.92N/AN/A2,6301,82511,12911,801
2023-07-24$128.25$120.0030.2%8.7%20.6%42.6%30.9%3.0%-4.5%81.7K-17.0M-273.9K1.0668.81N/AN/A1,1781,2448,5718,669
2023-07-25$127.41$125.0031.1%8.9%20.6%46.1%30.6%3.6%-4.3%-210.3K-9.2M-284.9K0.6561.30N/AN/A2581679,2979,415
2023-07-26$127.97$125.0029.7%8.5%19.5%40.3%30.8%3.4%-4.1%-81.9K-14.4M-282.3K0.5966.53N/AN/A2631569,3059,503
2023-07-27$126.83$125.0031.5%9.0%19.7%47.9%31.6%2.9%-4.5%-350.1K-8.4M-284.5K0.5164.46N/AN/A2841469,3509,580
2023-07-28$125.38$125.0030.3%8.7%20.1%42.8%30.3%3.3%-4.2%-775.6K-2.0M-279.1K1.3767.99N/AN/A3304529,4009,589
2023-07-31$121.56$125.0033.9%9.7%22.3%57.5%33.5%3.6%-5.9%-1.7M15.5M-271.1K1.1172.18N/AN/A5145719,4639,953