AAXJ Options History — May 2023

In May 2023, AAXJ traded between $64.80 and $67.15. ATM implied volatility averaged 23.8%, placing in the 29.5% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 8.4% (HV 20d: 15.4%). Max pain ranged from $65.00 to $67.00. Net GEX was positive for 16 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.00.

Notable Days

2023-05-01: Highest Volume — 11 contracts
2023-05-15: Largest IV spike — 95.7% change
2023-05-19: Highest IV Rank — 53.3%
2023-05-19: Largest Expected Move — 9.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$66.03	$64.80	$67.15	$66.53	$64.80
Max Pain	$65.27	$65.00	$67.00	$67.00	$65.00
ATM IV	23.8%	16.6%	33.7%	17.7%	30.7%
Expected Move	7.1%	4.8%	9.7%	5.1%	8.8%
HV 20d	15.4%	13.2%	16.9%	14.0%	16.8%
HV 60d	16.0%	15.3%	16.6%	16.3%	15.8%
IV Rank	29.5%	12.1%	53.3%	14.7%	46.1%
IV Percentile	50.2%	10.7%	94.4%	15.1%	85.3%
Term Structure	-5.6%	-18.1%	9.6%	0.2%	-5.4%
VWIV	19.4%	17.3%	21.6%	17.3%	21.6%
Skew 25d	4.3%	-2.5%	19.4%	1.1%	3.9%
Skew 10d	0.7%	-5.3%	10.4%	-4.6%	-3.0%
Call IV 25d	16.7%	11.6%	20.9%	17.8%	18.5%
Put IV 25d	21.0%	12.3%	35.1%	18.9%	22.4%
Bid-Ask Spread %	116.59	91.81	131.07	91.81	127.39
Gamma HHI	0.18	0.12	0.52	0.18	0.25
Net GEX	5.6K	-15.3K	17.8K	1.1K	-2.6K
Net DEX	-18.4K	-63.1K	28.2K	-11.2K	28.2K
Net VEX	-306	-427	-136	-301	-176
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	1.227	0	11	11	0
Total OI	75.182	56	83	56	72

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Call OI	Put OI
2023-05-01	$66.53	$67.00	17.7%	5.1%	14.0%	14.7%	17.3%	1.1%	0.2%	1.1K	-11.2K	-301	91.81	N/A	N/A	11	35	21
2023-05-02	$65.85	$67.00	18.3%	5.3%	14.2%	16.2%	18.6%	-0.1%	0.5%	3.8K	-14.0K	-354	93.45	N/A	N/A	5	46	21
2023-05-03	$65.78	$67.00	16.6%	4.8%	14.2%	12.1%	0.0%	-2.0%	9.6%	7.9K	-24.8K	-408	119.82	N/A	N/A	0	53	21
2023-05-04	$66.31	$65.00	19.0%	8.2%	14.4%	17.7%	0.0%	6.4%	-8.2%	8.3K	-43.2K	-411	123.92	N/A	N/A	0	55	21
2023-05-05	$67.06	$65.00	17.9%	6.4%	14.9%	15.2%	18.1%	5.5%	-0.4%	12.3K	-57.9K	-427	111.17	N/A	N/A	1	55	21
2023-05-08	$67.15	$65.00	18.6%	5.5%	14.9%	16.9%	0.0%	4.2%	-3.0%	13.4K	-63.1K	-389	105.20	N/A	N/A	0	56	21
2023-05-09	$66.50	$65.00	18.7%	6.3%	15.1%	17.1%	0.0%	1.7%	-7.2%	11.6K	-40.6K	-382	107.26	N/A	N/A	0	56	21
2023-05-10	$66.52	$65.00	19.8%	5.7%	14.6%	19.8%	20.7%	4.8%	4.0%	11.4K	-40.7K	-366	122.09	N/A	N/A	4	58	21
2023-05-11	$66.16	$65.00	31.4%	9.0%	13.2%	47.8%	0.0%	5.1%	-12.4%	12.1K	-32.5K	-386	127.37	N/A	N/A	0	62	21
2023-05-12	$65.16	$65.00	16.6%	4.8%	13.9%	12.1%	0.0%	7.8%	1.2%	7.0K	-2.4K	-319	118.28	N/A	N/A	0	62	21
2023-05-15	$66.69	$65.00	32.6%	9.3%	16.4%	50.6%	0.0%	-1.3%	-15.8%	17.8K	-53.5K	-427	118.32	N/A	N/A	0	62	21
2023-05-16	$66.13	$65.00	19.5%	5.6%	16.6%	18.9%	0.0%	3.0%	-5.0%	10.2K	-16.8K	-282	116.58	N/A	N/A	1	62	21
2023-05-17	$66.25	$65.00	31.9%	9.1%	16.4%	48.9%	0.0%	8.8%	-18.1%	10.8K	-21.2K	-271	120.77	N/A	N/A	0	61	21
2023-05-18	$65.98	$65.00	32.3%	9.3%	16.4%	49.9%	0.0%	19.4%	-13.6%	9.3K	-12.9K	-307	129.34	N/A	N/A	0	61	21
2023-05-19	$66.06	$65.00	33.7%	9.7%	16.2%	53.3%	19.9%	-2.5%	-15.1%	11.0K	-19.3K	-318	131.07	N/A	N/A	3	61	21
2023-05-22	$66.72	$65.00	24.2%	6.9%	16.5%	30.3%	0.0%	-1.8%	-2.8%	2.2K	-15.6K	-237	124.25	N/A	N/A	0	49	21
2023-05-23	$65.65	$65.00	23.8%	6.8%	15.8%	29.5%	0.0%	12.7%	-5.5%	-4.5K	7.8K	-207	121.41	N/A	N/A	0	49	21
2023-05-24	$65.07	$65.00	21.9%	6.3%	15.9%	24.9%	0.0%	5.9%	-8.0%	-848	17.1K	-214	120.62	N/A	N/A	0	49	21
2023-05-25	$64.95	$65.00	30.7%	8.8%	15.1%	46.1%	0.0%	-0.6%	-10.1%	-2.4K	22.7K	-207	125.60	N/A	N/A	0	49	21
2023-05-26	$66.10	$65.00	28.0%	8.0%	16.4%	39.5%	21.6%	11.6%	-6.2%	-15.3K	-20.3K	-136	115.40	N/A	N/A	2	49	21
2023-05-30	$65.31	$65.00	20.4%	5.9%	16.9%	21.3%	0.0%	0.4%	-2.0%	-623	9.2K	-203	93.94	N/A	N/A	0	51	21
2023-05-31	$64.80	$65.00	30.7%	8.8%	16.8%	46.1%	0.0%	3.9%	-5.4%	-2.6K	28.2K	-176	127.39	N/A	N/A	0	51	21