ADEA Options History — December 2023

In December 2023, ADEA traded between $9.52 and $12.59. ATM implied volatility averaged 48.9%, placing in the 8.5% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded above realized volatility by 14.6% (HV 20d: 34.3%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.62.

Notable Days

2023-12-19: Highest Volume — 60 contracts
2023-12-12: Largest IV spike — 119.9% change
2023-12-12: Highest IV Rank — 24.9%
2023-12-13: Largest Expected Move — 17.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.93	$9.52	$12.59	$9.54	$12.43
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	48.9%	29.9%	83.3%	35.2%	36.6%
Expected Move	12.8%	8.6%	17.7%	10.1%	10.5%
HV 20d	34.3%	23.0%	47.2%	47.2%	23.0%
HV 60d	52.2%	39.7%	54.0%	53.8%	39.7%
IV Rank	8.5%	0.0%	24.9%	1.2%	3.3%
IV Percentile	28.3%	0.0%	73.4%	2.8%	8.7%
Term Structure	11.7%	-22.1%	82.8%	21.8%	13.5%
VWIV	44.8%	20.0%	96.4%	44.9%	36.7%
Skew 25d	64.1%	-28.3%	231.7%	84.3%	38.6%
Skew 10d	101.4%	-45.9%	327.5%	78.1%	61.0%
Call IV 25d	41.1%	19.2%	64.3%	20.9%	31.3%
Put IV 25d	105.2%	36.0%	269.9%	105.2%	69.9%
Bid-Ask Spread %	109.43	93.91	122.57	122.57	103.99
Gamma HHI	0.57	0.43	0.81	0.78	0.51
Net GEX	6.7K	3.6K	12.0K	6.1K	8.2K
Net DEX	-238.7K	-413.0K	-51.0K	-55.0K	-361.1K
Net VEX	-837	-1.1K	-659	-775	-1.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.62	0.00	5.00	2.50	0.67
Total Volume	24.4	0	60	0	5
Total OI	716.95	356	930	887	557

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2023-12-01	$9.54	$10.00	35.2%	10.1%	47.2%	1.2%	0.0%	84.3%	21.8%	6.1K	-55.0K	-775	0.00	122.57	N/A	N/A	0	0	726	161
2023-12-04	$9.61	$10.00	45.9%	13.8%	46.2%	6.4%	44.9%	-28.3%	13.1%	6.4K	-91.4K	-870	2.50	110.52	N/A	N/A	2	5	726	161
2023-12-05	$9.63	$10.00	37.4%	12.2%	45.5%	2.2%	0.0%	10.5%	10.0%	7.2K	-57.3K	-805	0.00	107.64	N/A	N/A	36	0	728	166
2023-12-06	$9.52	$10.00	69.2%	14.2%	42.1%	18.0%	0.0%	4.9%	-7.0%	6.6K	-51.0K	-761	0.50	110.50	N/A	N/A	4	2	764	166
2023-12-07	$9.66	$10.00	72.9%	14.2%	42.1%	19.8%	0.0%	136.4%	17.2%	7.8K	-64.3K	-821	0.00	109.36	N/A	N/A	0	0	762	168
2023-12-08	$9.89	$10.00	68.2%	11.2%	40.5%	17.5%	0.0%	9.8%	6.2%	7.9K	-155.5K	-830	0.00	107.02	N/A	N/A	31	0	762	168
2023-12-11	$10.07	$10.00	37.9%	13.1%	38.7%	2.5%	0.0%	114.4%	-1.5%	12.0K	-199.6K	-763	0.06	108.87	N/A	N/A	32	2	740	167
2023-12-12	$10.32	$10.00	83.3%	14.8%	38.3%	24.9%	57.4%	18.2%	-22.1%	7.1K	-271.0K	-727	0.07	108.30	N/A	N/A	15	1	728	168
2023-12-13	$10.64	$10.00	61.9%	17.7%	28.8%	14.4%	55.9%	112.6%	-5.7%	8.7K	-302.6K	-789	0.12	104.97	N/A	N/A	26	3	736	168
2023-12-14	$10.96	$10.00	53.7%	15.4%	29.2%	10.3%	51.7%	20.7%	82.8%	3.6K	-402.4K	-659	1.00	120.80	N/A	N/A	21	21	732	166
2023-12-15	$11.05	$10.00	52.6%	15.1%	29.1%	9.8%	25.1%	12.1%	-10.5%	3.7K	-413.0K	-676	0.00	121.52	N/A	N/A	35	0	739	166
2023-12-18	$11.33	$10.00	38.6%	11.1%	29.7%	2.9%	20.0%	19.6%	23.9%	4.6K	-204.4K	-717	0.04	115.31	N/A	N/A	46	2	327	29
2023-12-19	$11.48	$10.00	29.9%	8.6%	29.8%	0.0%	96.4%	12.9%	24.5%	5.4K	-222.2K	-839	5.00	114.42	N/A	N/A	10	50	373	30
2023-12-20	$11.48	$10.00	41.2%	11.8%	29.4%	5.5%	0.0%	3.2%	9.0%	4.9K	-234.8K	-895	0.00	113.48	N/A	N/A	54	0	381	80
2023-12-21	$11.77	$10.00	50.2%	14.4%	29.8%	9.9%	0.0%	230.6%	1.4%	6.0K	-297.8K	-1.0K	0.00	106.04	N/A	N/A	0	0	435	80
2023-12-22	$11.84	$10.00	49.3%	14.1%	29.2%	9.4%	41.2%	9.7%	6.8%	6.3K	-319.7K	-945	0.50	105.57	N/A	N/A	2	1	435	80
2023-12-26	$12.20	$10.00	34.6%	9.9%	29.9%	2.3%	35.1%	231.7%	15.2%	6.7K	-328.8K	-966	0.08	93.91	N/A	N/A	12	1	436	80
2023-12-27	$12.59	$10.00	44.3%	12.7%	29.5%	7.0%	37.9%	204.6%	26.5%	6.4K	-357.2K	-944	0.00	105.71	N/A	N/A	27	0	431	81
2023-12-28	$12.54	$10.00	35.5%	10.2%	29.0%	2.7%	35.6%	36.1%	7.9%	8.1K	-385.6K	-894	0.02	98.17	N/A	N/A	41	1	455	81
2023-12-29	$12.43	$10.00	36.6%	10.5%	23.0%	3.3%	36.7%	38.6%	13.5%	8.2K	-361.1K	-1.1K	0.67	103.99	N/A	N/A	3	2	475	82