BRCC Options History — April 2023

In April 2023, BRCC traded between $4.87 and $5.31. ATM implied volatility averaged 66.6%, placing in the 10.6% IV rank vs the trailing year. The 30-day expected move averaged 19.6%. IV traded above realized volatility by 21.0% (HV 20d: 45.6%). Max pain ranged from $5.00 to $7.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 1.30.

Notable Days

2023-04-18: Highest Volume — 416 contracts
2023-04-25: Largest IV spike — 17.7% change
2023-04-28: Highest IV Rank — 15.1%
2023-04-10: Largest Expected Move — 22.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$5.10	$4.87	$5.31	$5.29	$5.19
Max Pain	$5.32	$5.00	$7.00	$7.00	$5.00
ATM IV	66.6%	56.3%	73.2%	63.8%	73.2%
Expected Move	19.6%	16.1%	22.2%	18.3%	21.0%
HV 20d	45.6%	33.0%	59.3%	55.0%	40.0%
HV 60d	60.5%	57.8%	62.8%	62.2%	58.6%
IV Rank	10.6%	3.5%	15.1%	8.6%	15.1%
IV Percentile	15.0%	0.8%	30.6%	5.6%	30.6%
Term Structure	2.0%	-8.4%	13.9%	12.9%	-2.5%
VWIV	65.6%	56.5%	72.4%	63.5%	69.3%
Skew 25d	10.6%	-14.5%	101.8%	27.4%	0.1%
Skew 10d	21.2%	-16.6%	160.0%	27.2%	5.2%
Call IV 25d	59.9%	38.3%	71.8%	38.3%	64.6%
Put IV 25d	70.5%	51.4%	156.0%	65.6%	64.6%
Bid-Ask Spread %	75.74	38.57	89.77	85.83	75.70
Gamma HHI	0.61	0.31	0.91	0.55	0.37
Net GEX	-14.9K	-68.1K	-2.0K	-8.3K	-2.9K
Net DEX	581.5K	149.1K	909.6K	602.0K	149.1K
Net VEX	-5.9K	-6.6K	-5.4K	-6.6K	-6.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.30	0.18	3.65	0.51	0.25
Total Volume	149.211	29	416	109	130
Total OI	8,213.158	5,335	9,546	8,792	5,787

Daily Data (19 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
2023-04-03	$5.29	$7.00	63.8%	18.3%	55.0%	8.6%	63.5%	27.4%	12.9%	-8.3K	602.0K	-6.6K	0.51	85.83	72	37	5,080	3,712
2023-04-04	$5.14	$7.00	56.3%	16.1%	55.5%	3.5%	56.5%	86.0%	12.5%	-11.4K	685.1K	-6.3K	0.83	80.24	41	34	5,097	3,713
2023-04-05	$4.96	$7.00	59.1%	16.9%	56.3%	5.4%	58.4%	101.8%	4.3%	-11.6K	780.7K	-5.9K	0.18	82.03	74	13	5,099	3,747
2023-04-06	$5.06	$5.00	63.9%	19.8%	57.2%	8.7%	64.3%	2.2%	-0.5%	-9.9K	721.2K	-6.1K	2.10	89.70	21	44	5,150	3,749
2023-04-10	$5.14	$5.00	66.0%	22.2%	57.8%	10.2%	61.7%	13.4%	4.0%	-11.5K	707.3K	-6.0K	0.28	76.91	69	19	5,164	3,789
2023-04-11	$5.31	$5.00	61.8%	21.8%	59.3%	7.3%	65.9%	16.6%	-3.5%	-10.6K	614.7K	-6.3K	0.35	88.18	190	67	5,198	3,790
2023-04-12	$5.28	$5.00	63.9%	18.3%	59.2%	8.7%	69.8%	-7.3%	6.9%	-12.7K	673.0K	-6.1K	1.42	81.19	12	17	5,313	3,816
2023-04-13	$5.26	$5.00	72.8%	20.9%	58.0%	14.8%	72.4%	14.2%	-8.4%	-12.7K	666.9K	-6.0K	1.38	87.49	37	51	5,315	3,813
2023-04-14	$5.21	$5.00	68.7%	19.7%	42.7%	12.0%	69.3%	-1.1%	-1.1%	-21.9K	699.3K	-5.8K	2.87	64.11	30	86	5,347	3,828
2023-04-17	$5.20	$5.00	71.9%	20.6%	33.0%	14.2%	62.6%	10.6%	-1.8%	-22.4K	691.4K	-5.6K	0.26	89.77	152	39	5,354	3,873
2023-04-18	$5.13	$5.00	65.0%	18.6%	33.3%	9.5%	60.5%	0.8%	-3.0%	-20.8K	731.9K	-5.9K	0.43	64.74	290	126	5,450	3,889
2023-04-19	$4.87	$5.00	68.3%	19.6%	37.5%	11.7%	67.8%	-10.9%	-1.5%	-20.7K	890.6K	-5.4K	2.01	77.72	70	141	5,553	3,864
2023-04-20	$4.87	$5.00	69.6%	20.0%	35.7%	12.6%	68.0%	-1.5%	3.4%	-25.4K	909.6K	-5.4K	2.64	82.60	36	95	5,613	3,932
2023-04-21	$5.05	$5.00	72.2%	20.7%	37.9%	14.4%	63.4%	0.2%	-4.9%	-68.1K	709.3K	-5.7K	3.65	88.15	54	197	5,616	3,930
2023-04-24	$5.00	$5.00	60.0%	17.2%	37.2%	6.0%	60.6%	-14.5%	13.9%	-2.0K	205.4K	-5.5K	3.30	43.06	84	277	3,077	2,258
2023-04-25	$5.06	$5.00	70.5%	20.2%	37.5%	13.3%	70.5%	-9.4%	4.6%	-3.8K	203.8K	-5.9K	0.92	67.04	49	45	3,131	2,543
2023-04-26	$5.00	$5.00	67.5%	19.3%	36.9%	11.2%	71.5%	-12.7%	1.3%	-3.7K	205.4K	-5.8K	0.29	75.99	49	14	3,163	2,547
2023-04-27	$4.97	$5.00	71.7%	20.5%	36.9%	14.0%	71.3%	-13.8%	1.4%	-3.3K	202.2K	-5.8K	0.97	38.57	37	36	3,201	2,549
2023-04-28	$5.19	$5.00	73.2%	21.0%	40.0%	15.1%	69.3%	0.1%	-2.5%	-2.9K	149.1K	-6.0K	0.25	75.70	104	26	3,216	2,571