BRCC Options History — July 2023

In July 2023, BRCC traded between $4.42 and $5.08. ATM implied volatility averaged 55.7%, placing in the 9.2% IV rank vs the trailing year. The 30-day expected move averaged 16.7%. IV traded above realized volatility by 29.5% (HV 20d: 26.2%). Max pain ranged from $5.00 to $6.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 2.82.

Notable Days

2023-07-24: Highest Volume — 1,540 contracts
2023-07-12: Largest IV spike — 33.0% change
2023-07-25: Highest IV Rank — 20.1%
2023-07-25: Largest Expected Move — 20.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.87	$4.42	$5.08	$5.06	$4.58
Max Pain	$5.60	$5.00	$6.00	$6.00	$5.00
ATM IV	55.7%	41.2%	72.7%	47.0%	68.1%
Expected Move	16.7%	13.5%	20.8%	13.5%	19.5%
HV 20d	26.2%	22.0%	31.5%	28.4%	31.5%
HV 60d	45.5%	44.3%	46.3%	46.3%	45.2%
IV Rank	9.2%	0.0%	20.1%	3.5%	17.2%
IV Percentile	15.1%	0.0%	50.0%	1.6%	38.1%
Term Structure	4.8%	-20.6%	18.5%	5.9%	-20.6%
VWIV	58.3%	43.8%	68.2%	50.4%	68.2%
Skew 25d	3.0%	-14.8%	99.7%	-2.0%	6.2%
Skew 10d	16.7%	-19.8%	156.4%	-3.4%	78.3%
Call IV 25d	54.6%	33.4%	67.0%	48.0%	64.3%
Put IV 25d	57.6%	42.9%	147.0%	46.0%	70.5%
Bid-Ask Spread %	62.89	23.72	99.81	83.70	80.93
Gamma HHI	0.55	0.26	0.80	0.41	0.44
Net GEX	-19.5K	-56.8K	-4.0K	-8.0K	-11.9K
Net DEX	513.2K	296.2K	804.8K	340.4K	636.9K
Net VEX	-7.1K	-7.4K	-6.6K	-7.2K	-7.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.82	0.02	10.95	8.13	0.02
Total Volume	228.85	43	1,540	146	174
Total OI	9,229.05	6,827	10,213	9,055	8,991

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 Vol	Put Vol	Call OI	Put OI
2023-07-03	$5.06	$6.00	47.0%	13.5%	28.4%	3.5%	50.4%	-2.0%	5.9%	-8.0K	340.4K	-7.2K	8.13	83.70	16	130	5,003	4,052
2023-07-05	$5.00	$6.00	47.6%	13.6%	26.1%	3.9%	48.6%	99.7%	14.6%	-11.2K	424.8K	-7.1K	1.08	82.54	65	70	5,012	4,127
2023-07-06	$4.95	$6.00	49.5%	16.8%	26.0%	5.1%	58.0%	-5.2%	6.1%	-11.4K	449.1K	-7.2K	0.37	93.98	51	19	5,064	4,189
2023-07-07	$5.06	$6.00	47.4%	16.4%	26.0%	3.8%	57.1%	-7.1%	4.6%	-11.6K	381.8K	-7.3K	6.17	99.81	6	37	5,102	4,196
2023-07-10	$5.08	$6.00	45.7%	16.8%	25.8%	2.7%	43.8%	18.6%	5.9%	-14.3K	371.4K	-7.2K	2.48	52.89	63	156	5,106	4,221
2023-07-11	$5.04	$6.00	41.2%	16.6%	25.8%	0.0%	54.1%	-0.2%	6.2%	-19.1K	444.1K	-7.1K	6.82	42.52	17	116	5,159	4,329
2023-07-12	$5.04	$6.00	54.9%	15.7%	25.8%	8.7%	54.5%	-5.2%	3.3%	-19.5K	422.2K	-7.1K	2.43	35.80	46	112	5,166	4,395
2023-07-13	$5.08	$6.00	55.2%	15.8%	25.8%	8.9%	53.6%	-4.7%	9.1%	-21.2K	447.7K	-7.2K	1.42	96.77	38	54	5,169	4,496
2023-07-14	$5.03	$6.00	56.5%	16.2%	25.7%	9.8%	55.4%	-4.2%	14.2%	-21.6K	425.4K	-7.2K	0.64	82.87	55	35	5,189	4,546
2023-07-17	$4.96	$6.00	59.5%	17.1%	22.5%	11.7%	60.3%	-8.9%	6.8%	-23.7K	507.4K	-7.1K	0.23	40.57	92	21	5,193	4,561
2023-07-18	$5.06	$6.00	57.9%	16.6%	23.7%	10.7%	58.2%	-4.4%	13.0%	-27.0K	418.1K	-7.2K	1.09	40.46	79	86	5,228	4,568
2023-07-19	$5.00	$6.00	54.9%	15.7%	22.4%	8.7%	57.5%	-8.8%	8.0%	-32.6K	496.6K	-7.4K	2.49	50.63	37	92	5,255	4,709
2023-07-20	$4.92	$5.00	58.1%	16.7%	22.4%	10.8%	58.1%	-14.8%	18.5%	-44.0K	631.8K	-7.3K	6.25	51.43	28	175	5,277	4,767
2023-07-21	$4.95	$5.00	59.0%	16.9%	22.0%	11.4%	66.4%	-8.4%	18.1%	-56.8K	634.2K	-7.4K	10.95	81.07	21	230	5,299	4,914
2023-07-24	$4.70	$5.00	67.0%	19.2%	27.6%	16.5%	67.0%	-10.8%	-3.9%	-4.0K	296.2K	-6.7K	4.22	79.71	295	1,245	3,328	3,499
2023-07-25	$4.50	$5.00	72.7%	20.8%	29.4%	20.1%	64.8%	10.0%	-20.6%	-14.2K	659.6K	-7.1K	0.18	38.43	407	72	3,530	4,710
2023-07-26	$4.50	$5.00	60.8%	17.4%	28.9%	12.5%	64.3%	-2.9%	-2.2%	-12.7K	733.0K	-6.8K	0.39	23.72	64	25	3,903	4,748
2023-07-27	$4.42	$5.00	54.2%	15.5%	28.6%	8.3%	65.1%	14.5%	16.2%	-12.1K	804.8K	-6.6K	0.20	65.93	143	29	3,952	4,764
2023-07-28	$4.47	$5.00	56.5%	16.2%	29.4%	9.7%	60.7%	-1.4%	-8.1%	-12.6K	738.6K	-7.1K	0.78	34.00	99	77	4,085	4,779
2023-07-31	$4.58	$5.00	68.1%	19.5%	31.5%	17.2%	68.2%	6.2%	-20.6%	-11.9K	636.9K	-7.3K	0.02	80.93	170	4	4,158	4,833