C Options History — March 2023

In March 2023, C traded between $42.97 and $52.30. ATM implied volatility averaged 37.3%, placing in the 54.0% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded above realized volatility by 1.0% (HV 20d: 36.3%). Max pain ranged from $45.00 to $52.50. Net GEX was positive for 8 of 23 trading days. Term structure was in contango for 10 of 23 days. Put/call ratio averaged 1.02.

Notable Days

2023-03-13: Highest Volume — 316,108 contracts
2023-03-13: Largest IV spike — 33.4% change
2023-03-15: Highest IV Rank — 96.8%
2023-03-15: Largest Expected Move — 13.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$46.98	$42.97	$52.30	$51.48	$46.66
Max Pain	$48.48	$45.00	$52.50	$50.00	$45.00
ATM IV	37.3%	23.3%	50.0%	25.2%	32.8%
Expected Move	10.7%	6.6%	13.8%	7.2%	9.5%
HV 20d	36.3%	18.5%	48.2%	21.2%	48.0%
HV 60d	27.5%	20.3%	32.6%	21.9%	32.3%
IV Rank	54.0%	6.9%	96.8%	13.4%	38.8%
IV Percentile	63.8%	4.0%	99.6%	8.3%	49.6%
Term Structure	-0.1%	-3.4%	2.4%	-0.2%	-0.5%
VWIV	37.8%	23.4%	51.8%	24.4%	33.0%
Skew 25d	9.7%	3.5%	16.1%	4.4%	8.1%
Skew 10d	19.6%	6.0%	32.9%	9.9%	16.1%
Call IV 25d	32.9%	21.7%	44.1%	22.7%	29.8%
Put IV 25d	42.5%	25.2%	59.6%	27.1%	37.9%
Bid-Ask Spread %	2.48	1.83	3.92	2.79	3.14
Gamma HHI	0.08	0.07	0.15	0.08	0.15
Net GEX	-8.1M	-32.3M	28.3M	17.5M	18.7M
Net DEX	1.13B	-417.3M	2.07B	-60.0M	898.2M
Net VEX	-22.3M	-24.0M	-20.5M	-23.9M	-23.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.02	0.59	1.47	0.96	1.07
Total Volume	140,088.609	36,579	316,108	83,094	89,501
Total OI	2,398,106.739	2,251,394	2,662,390	2,253,930	2,562,101

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	$51.48	$50.00	25.2%	7.2%	21.2%	13.4%	24.4%	4.4%	-0.2%	17.5M	-60.0M	-23.9M	0.96	2.79	42,382	40,712	1,032,087	1,221,843
2023-03-02	$51.36	$50.00	25.2%	7.3%	20.7%	13.4%	25.9%	4.3%	-0.2%	16.3M	-5.9M	-23.9M	0.72	2.15	21,267	15,312	1,052,681	1,233,345
2023-03-03	$52.17	$50.00	23.3%	6.6%	21.2%	6.9%	23.4%	3.5%	-0.3%	28.3M	-417.3M	-24.0M	0.68	2.55	54,910	37,411	1,054,419	1,234,356
2023-03-06	$52.30	$52.50	23.7%	7.4%	18.5%	8.4%	26.2%	3.6%	2.4%	25.4M	-375.9M	-23.7M	1.15	2.07	36,905	42,513	1,046,406	1,231,605
2023-03-07	$51.13	$52.50	25.7%	8.2%	20.4%	14.9%	27.4%	4.2%	2.2%	9.6M	92.1M	-23.0M	1.20	2.00	28,883	34,785	1,045,420	1,231,145
2023-03-08	$50.70	$52.50	26.1%	8.2%	20.3%	16.4%	27.6%	4.3%	2.4%	3.8M	312.4M	-22.8M	1.34	2.29	28,412	38,103	1,050,992	1,234,742
2023-03-09	$48.50	$52.50	34.6%	10.3%	25.5%	45.1%	36.1%	7.4%	1.4%	-17.8M	1.13B	-22.2M	0.95	2.81	108,784	103,769	1,057,592	1,242,952
2023-03-10	$48.08	$50.00	36.2%	10.6%	25.0%	50.3%	35.9%	9.3%	1.3%	-32.3M	1.33B	-21.8M	1.16	2.56	89,790	103,894	1,078,531	1,275,485
2023-03-13	$44.94	$50.00	48.3%	13.3%	34.1%	90.9%	47.0%	14.9%	-2.0%	-30.1M	2.04B	-20.5M	0.92	3.06	164,751	151,357	1,084,805	1,276,953
2023-03-14	$47.14	$50.00	40.9%	11.1%	38.1%	66.3%	40.9%	9.8%	-2.4%	-23.7M	1.46B	-22.3M	0.95	2.63	127,650	121,591	1,142,789	1,321,473
2023-03-15	$44.61	$50.00	50.0%	13.8%	41.8%	96.8%	51.8%	14.7%	-1.7%	-30.8M	2.02B	-21.8M	1.22	2.68	101,363	123,408	1,186,965	1,354,281
2023-03-16	$45.70	$47.50	41.2%	11.8%	43.1%	67.1%	40.9%	11.3%	-0.4%	-28.0M	1.79B	-22.0M	0.77	1.90	107,334	82,696	1,232,201	1,381,589
2023-03-17	$44.38	$47.50	50.0%	13.7%	43.8%	96.6%	47.7%	16.1%	-3.4%	-22.9M	2.07B	-21.8M	1.32	2.09	67,718	89,206	1,268,485	1,393,905
2023-03-20	$43.97	$47.50	44.8%	12.7%	43.7%	79.2%	44.8%	13.1%	0.2%	-14.8M	1.64B	-21.0M	1.00	2.00	60,500	60,578	1,051,039	1,200,355
2023-03-21	$45.05	$47.50	39.9%	11.4%	44.4%	62.7%	39.8%	11.2%	0.2%	-14.8M	1.43B	-21.8M	0.91	2.36	58,858	53,443	1,065,027	1,231,726
2023-03-22	$44.00	$47.50	41.8%	12.0%	44.9%	69.0%	39.6%	11.5%	0.5%	-22.7M	1.75B	-20.9M	0.93	2.70	59,633	55,641	1,078,781	1,254,920
2023-03-23	$43.41	$47.50	47.7%	13.6%	44.4%	89.0%	49.0%	15.1%	1.5%	-22.9M	1.87B	-21.0M	0.97	3.92	102,474	99,885	1,107,144	1,274,674
2023-03-24	$42.97	$45.00	47.0%	13.4%	44.4%	86.8%	48.6%	13.7%	0.8%	-24.3M	1.98B	-21.0M	1.23	2.45	103,748	127,372	1,153,734	1,314,017
2023-03-27	$44.91	$45.00	40.1%	11.4%	47.8%	63.5%	41.9%	11.6%	-0.9%	-12.7M	1.41B	-22.2M	0.59	2.38	65,082	38,403	1,128,798	1,305,769
2023-03-28	$45.02	$45.00	39.8%	11.3%	47.7%	62.5%	41.1%	11.2%	-0.7%	-10.5M	1.39B	-22.3M	1.01	1.83	42,191	42,711	1,140,622	1,312,329
2023-03-29	$45.95	$45.00	36.6%	10.2%	48.1%	51.7%	37.7%	9.6%	-1.2%	-261.9K	1.12B	-22.5M	1.47	2.11	41,169	60,578	1,155,738	1,330,681
2023-03-30	$46.06	$45.00	36.7%	10.4%	48.2%	52.1%	37.9%	9.7%	-0.9%	3.3M	1.09B	-22.8M	0.92	2.58	49,557	45,808	1,166,895	1,355,058
2023-03-31	$46.66	$45.00	32.8%	9.5%	48.0%	38.8%	33.0%	8.1%	-0.5%	18.7M	898.2M	-23.1M	1.07	3.14	43,205	46,296	1,189,061	1,373,040