AG Options History — March 2023

In March 2023, AG traded between $5.76 and $7.44. ATM implied volatility averaged 54.3%, placing in the 16.8% IV rank vs the trailing year. The 30-day expected move averaged 15.4%. IV traded below realized volatility by 31.1% (HV 20d: 85.3%). Max pain ranged from $7.00 to $7.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.28.

Notable Days

2023-03-21: Highest Volume — 63,803 contracts
2023-03-13: Largest IV spike — 12.6% change
2023-03-21: Highest IV Rank — 33.2%
2023-03-23: Largest Expected Move — 17.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.62	$5.76	$7.44	$6.30	$7.25
Max Pain	$7.00	$7.00	$7.00	$7.00	$7.00
ATM IV	54.3%	47.7%	60.5%	49.7%	55.0%
Expected Move	15.4%	12.8%	17.3%	13.9%	15.5%
HV 20d	85.3%	53.8%	124.6%	56.9%	114.5%
HV 60d	59.7%	46.7%	76.9%	47.5%	76.2%
IV Rank	16.8%	0.0%	33.2%	2.4%	19.0%
IV Percentile	23.9%	0.0%	52.4%	2.0%	24.2%
Term Structure	0.6%	-2.3%	4.5%	-1.3%	3.7%
VWIV	55.5%	45.8%	63.2%	50.0%	54.3%
Skew 25d	1.3%	-4.0%	5.6%	3.7%	-0.3%
Skew 10d	1.5%	-6.4%	8.0%	4.8%	-3.7%
Call IV 25d	55.7%	47.7%	62.2%	50.2%	55.3%
Put IV 25d	57.0%	49.4%	66.3%	53.9%	55.1%
Bid-Ask Spread %	3.63	2.39	5.39	3.55	2.99
Gamma HHI	0.15	0.12	0.23	0.14	0.15
Net GEX	632.1K	276.1K	1.0M	346.4K	939.0K
Net DEX	-19.6M	-37.3M	-1.6M	-5.4M	-36.8M
Net VEX	-305.2K	-357.2K	-237.2K	-247.0K	-357.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.28	0.09	0.59	0.11	0.18
Total Volume	17,257.565	6,608	63,803	16,005	17,854
Total OI	258,419.304	227,296	286,910	227,296	282,369

Daily Data (23 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 Vol	Put Vol	Call OI	Put OI
2023-03-01	$6.30	$7.00	49.7%	13.9%	56.9%	2.4%	50.0%	3.7%	-1.3%	346.4K	-5.4M	-247.0K	0.11	3.55	14,412	1,593	172,752	54,544
2023-03-02	$6.26	$7.00	49.7%	13.7%	53.8%	2.3%	49.6%	1.8%	-1.0%	419.4K	-7.2M	-255.9K	0.42	3.23	5,156	2,162	182,737	54,619
2023-03-03	$6.54	$7.00	47.7%	12.8%	57.4%	0.0%	45.8%	2.5%	-0.1%	673.6K	-13.1M	-284.3K	0.16	2.57	11,622	1,907	183,950	56,081
2023-03-06	$6.46	$7.00	48.2%	13.7%	56.2%	1.4%	48.9%	0.5%	0.6%	417.4K	-9.1M	-263.5K	0.34	2.39	5,767	1,977	179,496	54,834
2023-03-07	$6.14	$7.00	47.8%	13.6%	58.2%	0.4%	49.8%	3.6%	-0.7%	297.9K	-3.1M	-242.2K	0.20	2.74	10,621	2,118	180,337	56,159
2023-03-08	$5.95	$7.00	49.4%	13.9%	58.6%	4.4%	49.5%	2.3%	-0.9%	276.1K	-1.6M	-237.2K	0.57	2.93	8,227	4,699	185,746	56,806
2023-03-09	$6.03	$7.00	49.6%	14.7%	59.2%	5.0%	51.7%	2.5%	-1.0%	312.5K	-3.0M	-244.5K	0.13	3.75	9,592	1,213	190,479	58,920
2023-03-10	$6.11	$7.00	51.8%	15.6%	59.5%	10.8%	55.9%	1.6%	-1.7%	356.7K	-8.1M	-268.0K	0.31	2.54	8,942	2,781	195,527	58,908
2023-03-13	$6.83	$7.00	58.4%	16.7%	73.3%	27.8%	60.2%	-0.1%	0.5%	612.0K	-23.1M	-320.5K	0.13	2.52	31,316	4,195	190,606	57,044
2023-03-14	$6.99	$7.00	55.0%	15.3%	73.9%	19.0%	55.9%	-1.4%	-2.3%	756.7K	-26.6M	-329.2K	0.29	2.97	12,170	3,471	195,237	58,301
2023-03-15	$6.88	$7.00	56.5%	16.0%	74.0%	23.0%	57.3%	0.6%	-0.6%	715.2K	-25.1M	-327.3K	0.34	2.73	8,821	2,968	196,967	58,167
2023-03-16	$6.92	$7.00	52.8%	15.2%	73.6%	13.2%	55.7%	3.6%	0.6%	735.0K	-24.3M	-325.0K	0.35	2.71	7,109	2,476	199,121	59,389
2023-03-17	$7.33	$7.00	56.3%	16.1%	76.4%	22.4%	59.4%	-2.6%	0.1%	842.5K	-37.3M	-354.3K	0.09	2.68	21,916	1,905	199,870	59,777
2023-03-20	$7.44	$7.00	57.3%	16.4%	76.5%	25.0%	63.2%	-4.0%	0.9%	998.6K	-36.7M	-356.1K	0.10	3.61	24,435	2,446	191,405	52,991
2023-03-21	$5.76	$7.00	60.5%	17.2%	119.3%	33.2%	62.0%	5.6%	1.9%	276.2K	-4.0M	-250.9K	0.29	4.62	49,270	14,533	201,014	54,356
2023-03-22	$6.29	$7.00	55.8%	16.0%	124.2%	21.2%	58.3%	2.3%	2.1%	651.1K	-20.8M	-322.0K	0.29	5.32	25,034	7,343	223,314	61,997
2023-03-23	$6.46	$7.00	60.3%	17.3%	124.6%	32.7%	61.0%	1.5%	-0.8%	684.1K	-22.7M	-328.7K	0.13	5.38	14,892	1,909	222,243	62,875
2023-03-24	$6.54	$7.00	59.8%	17.0%	114.1%	31.5%	62.1%	1.1%	1.5%	756.1K	-24.6M	-334.3K	0.27	5.10	6,340	1,736	223,548	63,362
2023-03-27	$6.67	$7.00	58.7%	16.5%	114.1%	28.6%	57.6%	0.4%	1.7%	696.9K	-24.9M	-337.6K	0.34	4.45	8,040	2,725	214,335	58,928
2023-03-28	$6.96	$7.00	55.6%	16.1%	114.9%	20.5%	57.9%	2.4%	3.3%	903.3K	-30.4M	-343.4K	0.59	4.82	8,011	4,757	216,100	59,417
2023-03-29	$6.87	$7.00	55.5%	15.8%	114.5%	20.4%	56.3%	0.4%	4.5%	834.6K	-27.5M	-334.3K	0.33	4.41	4,952	1,656	217,598	60,852
2023-03-30	$7.19	$7.00	56.6%	15.6%	115.4%	23.3%	55.2%	0.9%	3.2%	1.0M	-36.1M	-356.5K	0.36	5.39	8,698	3,157	218,692	61,874
2023-03-31	$7.25	$7.00	55.0%	15.5%	114.5%	19.0%	54.3%	-0.3%	3.7%	939.0K	-36.8M	-357.2K	0.18	2.99	15,157	2,697	219,245	63,124