C Options History — May 2020

In May 2020, C traded between $40.41 and $52.09. ATM implied volatility averaged 55.8%, placing in the 30.9% IV rank vs the trailing year. The 30-day expected move averaged 16.2%. IV traded below realized volatility by 21.1% (HV 20d: 77.0%). Max pain ranged from $45.00 to $55.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.64.

Notable Days

  • 2020-05-26: Highest Volume — 176,049 contracts
  • 2020-05-13: Largest IV spike — 17.2% change
  • 2020-05-01: Highest IV Rank — 36.3%
  • 2020-05-01: Largest Expected Move — 18.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.13$40.41$52.09$45.45$48.18
Max Pain$51.13$45.00$55.00$45.00$50.00
ATM IV55.8%51.2%62.5%62.5%55.7%
Expected Move16.2%14.6%18.8%18.8%15.8%
HV 20d77.0%64.1%88.9%88.9%77.0%
HV 60d108.4%105.9%111.6%106.0%111.6%
IV Rank30.9%27.2%36.3%36.3%30.8%
IV Percentile82.7%77.8%86.9%86.9%82.1%
Term Structure0.2%-1.6%1.9%-0.9%-1.1%
VWIV56.8%50.6%65.8%65.8%55.7%
Skew 25d10.1%6.7%18.9%13.6%9.1%
Skew 10d18.8%-14.4%28.5%26.9%24.0%
Call IV 25d51.6%47.6%57.7%57.7%51.8%
Put IV 25d61.7%55.3%71.3%71.3%60.9%
Bid-Ask Spread %6.822.2619.952.268.57
Gamma HHI0.070.050.290.070.07
Net GEX1.2M-19.2M16.4M-6.6M8.2M
Net DEX1.09B-165.7M1.62B1.19B675.4M
Net VEX-10.9M-13.9M-9.1M-10.1M-12.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.640.230.930.910.77
Total Volume100,050.8551,067176,049164,624108,612
Total OI1,589,346.41,398,5881,783,4901,409,9901,783,490

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-05-01$45.45$45.0062.5%18.8%88.9%36.3%65.8%13.6%-0.9%-6.6M1.19B-10.1M0.912.2686,15278,472679,700730,290
2020-05-04$45.15$55.0061.1%17.5%87.0%35.1%61.1%13.5%0.3%576.9K1.16B-10.4M0.674.1442,84828,834688,529710,059
2020-05-05$44.09$55.0057.3%16.7%82.5%32.1%57.2%11.1%0.6%-918.2K1.27B-10.1M0.435.3838,87016,612713,169731,989
2020-05-06$43.06$55.0056.6%16.9%82.1%31.5%57.9%8.2%-0.7%-2.9M1.38B-9.6M0.9319.9535,93933,576727,805738,041
2020-05-07$44.69$55.0055.9%15.9%82.2%30.9%58.3%11.9%0.5%2.9M1.21B-10.2M0.663.0037,00724,419737,834742,425
2020-05-08$46.26$52.5051.4%15.0%77.4%27.4%54.5%10.4%0.4%8.9M1.00B-11.0M0.5411.9252,55428,228764,187771,162
2020-05-11$44.17$52.5052.0%15.3%79.0%27.8%53.5%9.2%1.1%-1.2M1.29B-10.0M0.606.6658,80135,502742,995759,016
2020-05-12$42.70$52.5053.1%15.9%78.7%28.7%53.2%8.9%1.9%-6.0M1.45B-9.3M0.868.8861,78953,271755,788770,567
2020-05-13$40.41$50.0062.3%18.2%79.2%36.0%60.0%18.9%1.5%-9.2M1.62B-9.1M0.745.0181,60160,419788,730804,139
2020-05-14$41.98$50.0060.4%17.8%77.0%34.5%63.3%13.3%1.9%-6.2M1.49B-9.9M0.603.7769,27141,315820,035825,934
2020-05-15$41.61$50.0059.8%17.4%64.1%34.0%61.3%10.8%1.0%-19.2M1.55B-9.8M0.8611.2443,39137,528841,948847,085
2020-05-18$45.75$50.0054.9%15.8%72.0%30.1%55.8%10.3%-0.6%3.1M1.04B-11.5M0.234.86104,13724,190783,137807,726
2020-05-19$44.64$50.0055.3%15.9%70.4%30.4%56.6%8.1%-0.6%3.9M1.16B-11.1M0.542.4237,61920,156811,377815,086
2020-05-20$45.55$50.0053.9%15.5%70.5%29.4%55.0%7.7%0.4%6.7M1.03B-11.5M0.614.3938,72223,514818,811821,430
2020-05-21$44.94$50.0052.5%15.0%70.7%28.3%52.8%8.1%0.5%5.2M1.16B-11.2M0.902.3926,90424,163830,301830,319
2020-05-22$44.02$50.0051.2%14.6%71.1%27.2%50.6%7.7%0.5%-291.7K1.32B-10.9M0.714.3937,40726,388841,991839,985
2020-05-26$48.31$50.0052.1%15.1%74.0%27.9%53.8%7.0%-0.1%7.1M618.1M-12.6M0.427.81123,99652,053823,476829,421
2020-05-27$52.09$50.0053.8%15.6%78.3%29.2%54.9%7.9%-1.6%16.4M-165.7M-13.9M0.3810.16123,87247,322866,390851,793
2020-05-28$49.47$50.0055.2%15.8%77.5%30.4%54.3%6.7%-1.0%12.9M421.3M-13.2M0.459.1293,80341,760870,541870,227
2020-05-29$48.18$50.0055.7%15.8%77.0%30.8%55.7%9.1%-1.1%8.2M675.4M-12.9M0.778.5761,43047,182897,646885,844