BB Options History — March 2023

In March 2023, BB traded between $3.50 and $4.61. ATM implied volatility averaged 74.5%, placing in the 52.7% IV rank vs the trailing year. The 30-day expected move averaged 21.0%. IV traded above realized volatility by 14.3% (HV 20d: 60.2%). Max pain ranged from $4.00 to $4.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 0.40.

Notable Days

  • 2023-03-31: Highest Volume — 92,953 contracts
  • 2023-03-28: Largest IV spike — 20.4% change
  • 2023-03-28: Highest IV Rank — 74.8%
  • 2023-03-29: Largest Expected Move — 25.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.82$3.50$4.61$3.83$4.61
Max Pain$4.00$4.00$4.00$4.00$4.00
ATM IV74.5%66.1%82.7%76.7%66.1%
Expected Move21.0%17.6%25.2%19.6%18.4%
HV 20d60.2%35.4%81.4%38.7%81.4%
HV 60d56.6%52.9%60.2%54.0%57.9%
IV Rank52.7%30.3%74.8%58.7%30.3%
IV Percentile68.5%32.1%89.7%77.0%32.1%
Term Structure-1.4%-17.3%5.1%1.4%3.8%
VWIV74.8%62.3%89.3%68.5%66.3%
Skew 25d2.2%-6.6%8.2%-6.6%6.4%
Skew 10d5.5%-19.7%30.0%-17.3%13.5%
Call IV 25d76.1%65.4%83.7%82.0%65.4%
Put IV 25d78.3%71.8%86.1%75.4%71.8%
Bid-Ask Spread %11.343.0726.015.695.20
Gamma HHI0.180.120.280.170.19
Net GEX194.3K20.6K428.4K151.3K383.5K
Net DEX-5.4M-31.6M894.4K-3.7M-31.6M
Net VEX-101.6K-124.0K-89.0K-111.7K-124.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.400.061.800.200.34
Total Volume15,848.0432,81292,9532,81292,953
Total OI228,241.913162,930267,502247,468236,977

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$3.83$4.0076.7%19.6%38.7%58.7%68.5%-6.6%1.4%151.3K-3.7M-111.7K0.205.692,341471169,20878,260
2023-03-02$3.95$4.0076.7%17.6%35.4%58.7%62.3%-1.3%0.1%288.6K-5.3M-112.1K0.366.174,0351,448170,43178,451
2023-03-03$4.13$4.0079.6%19.4%39.5%66.6%74.5%0.3%-17.3%299.5K-10.5M-117.2K0.093.0728,9602,602172,78178,739
2023-03-06$4.01$4.0071.3%19.8%40.4%44.3%73.0%-2.0%1.0%381.1K-7.5M-113.1K0.2010.4312,3802,434178,73773,535
2023-03-07$3.50$4.0075.1%22.2%61.5%54.4%75.9%-2.5%-0.2%20.6K894.4K-96.1K0.327.8513,0704,144182,90774,654
2023-03-08$3.63$4.0071.0%20.3%63.6%43.6%70.9%1.2%5.1%78.0K-634.3K-93.7K0.4210.115,5862,364189,59776,748
2023-03-09$3.66$4.0073.2%20.0%64.0%49.5%70.6%5.0%-3.8%100.3K-1.4M-98.3K0.3311.953,3771,131189,84976,990
2023-03-10$3.54$4.0072.9%21.4%64.1%48.5%76.2%-5.9%-5.7%22.3K-554.0K-100.2K0.2513.574,8021,188190,09477,408
2023-03-13$3.60$4.0076.8%21.7%64.4%58.9%76.5%3.6%-3.3%100.0K-1.1M-92.0K0.2217.058,0741,796181,73673,882
2023-03-14$3.71$4.0076.1%20.9%65.3%57.0%74.8%4.0%-2.6%105.0K-1.8M-97.6K0.3326.013,6331,184184,04075,128
2023-03-15$3.70$4.0073.5%20.7%64.9%50.2%77.3%2.0%-0.3%181.1K-2.6M-101.0K0.6512.422,1501,395185,69674,868
2023-03-16$3.69$4.0075.9%21.2%63.8%56.5%77.3%4.4%-0.6%146.3K-1.3M-91.8K1.8011.091,6893,045186,55775,518
2023-03-17$3.70$4.0074.6%21.1%63.6%53.1%74.6%3.9%-0.5%119.0K-1.8M-97.6K0.597.905,3453,156187,17378,319
2023-03-20$3.62$4.0073.7%20.7%63.6%50.7%73.2%3.3%3.0%80.4K-2.0M-90.2K0.339.404,1111,368117,94344,987
2023-03-21$3.79$4.0070.9%20.1%62.7%43.1%71.3%5.1%-5.7%153.5K-3.8M-92.8K0.9111.896,3955,797121,32445,946
2023-03-22$3.71$4.0074.3%21.3%63.1%52.2%73.5%5.9%-0.6%130.5K-3.7M-96.3K0.2314.005,3781,240125,09550,690
2023-03-23$3.83$4.0072.8%21.1%64.2%48.3%74.2%4.3%-4.3%194.9K-4.3M-89.0K0.1520.737,9781,169128,45251,333
2023-03-24$3.87$4.0073.4%21.2%63.8%49.8%73.7%8.2%-0.2%181.1K-5.5M-99.3K0.0810.3019,4761,515132,89351,617
2023-03-27$3.91$4.0068.7%20.6%63.4%37.2%74.5%6.5%4.5%267.1K-6.8M-105.5K0.2010.056,5491,291135,10048,235
2023-03-28$3.83$4.0082.7%24.0%63.9%74.8%86.8%2.1%-4.4%260.7K-6.7M-102.7K0.068.8022,8531,264138,49248,778
2023-03-29$3.96$4.0080.4%25.2%64.9%68.6%89.3%2.4%-1.2%395.7K-10.8M-106.2K0.196.8719,0453,533151,11249,508
2023-03-30$3.98$4.0076.3%24.6%64.0%57.8%86.2%0.8%-1.2%428.4K-11.5M-108.6K0.8920.2721,60019,190157,87251,904
2023-03-31$4.61$4.0066.1%18.4%81.4%30.3%66.3%6.4%3.8%383.5K-31.6M-124.0K0.345.2069,53323,420167,39569,582