C Options History — April 2023

In April 2023, C traded between $45.72 and $50.36. ATM implied volatility averaged 28.6%, placing in the 24.8% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded below realized volatility by 6.1% (HV 20d: 34.7%). Max pain ranged from $45.00 to $47.50. Net GEX was positive for 7 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.81.

Notable Days

  • 2023-04-14: Highest Volume — 265,972 contracts
  • 2023-04-14: Largest IV drop — 24.5% change
  • 2023-04-04: Highest IV Rank — 48.2%
  • 2023-04-05: Largest Expected Move — 10.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$47.82$45.72$50.36$46.80$46.89
Max Pain$46.00$45.00$47.50$45.00$47.50
ATM IV28.6%22.6%35.6%31.9%25.1%
Expected Move8.1%6.5%10.8%9.3%7.1%
HV 20d34.7%26.1%48.1%48.1%27.7%
HV 60d33.1%32.3%34.0%32.3%33.9%
IV Rank24.8%4.6%48.2%36.1%13.3%
IV Percentile28.7%1.2%62.3%44.0%11.9%
Term Structure-0.4%-2.1%0.7%-0.5%0.4%
VWIV29.2%23.2%37.9%33.5%25.8%
Skew 25d5.7%3.5%9.3%7.8%5.5%
Skew 10d10.8%6.0%17.3%14.4%11.8%
Call IV 25d26.1%21.0%31.5%28.4%22.7%
Put IV 25d31.8%24.5%40.7%36.2%28.2%
Bid-Ask Spread %2.191.852.642.372.28
Gamma HHI0.080.060.110.070.08
Net GEX2.5M-25.3M38.1M-3.8M-11.3M
Net DEX684.9M-446.8M1.42B991.3M1.20B
Net VEX-23.0M-24.2M-22.0M-22.9M-22.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.271.441.441.36
Total Volume98,533.10546,489265,97275,21982,356
Total OI2,539,655.1582,405,4902,668,5552,491,1152,509,709

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-04-03$46.80$45.0031.9%9.3%48.1%36.1%33.5%7.8%-0.5%-3.8M991.3M-22.9M1.442.3730,77244,4471,158,0691,333,046
2023-04-04$45.86$45.0035.6%10.7%48.0%48.2%36.9%9.0%-1.1%-19.4M1.35B-22.2M0.972.6453,45451,9201,165,3551,352,288
2023-04-05$45.72$45.0035.4%10.8%47.9%47.6%37.9%9.3%-1.3%-25.3M1.42B-22.3M0.442.1143,88419,1921,167,7171,368,889
2023-04-06$45.89$45.0034.2%9.3%45.7%43.8%33.4%8.1%-0.9%-19.8M1.33B-22.3M1.252.3624,16330,2851,182,9511,375,100
2023-04-10$46.47$45.0034.3%9.5%46.0%43.9%33.8%7.0%-0.7%-10.6M1.16B-22.2M0.622.2153,62833,3091,156,6331,349,247
2023-04-11$47.27$45.0032.2%8.8%39.2%37.1%32.5%6.7%-1.5%-2.9M854.6M-23.0M0.772.5026,24020,2491,168,8021,359,632
2023-04-12$46.89$45.0033.5%9.0%35.5%41.2%34.0%7.3%-2.0%-3.2M977.5M-23.0M0.522.1538,19719,8291,185,6771,369,902
2023-04-13$47.39$45.0033.0%9.0%29.1%39.5%32.7%5.5%-2.1%1.9M758.8M-23.2M0.811.9582,46067,2031,193,2951,376,423
2023-04-14$49.84$45.0024.9%7.1%32.9%12.4%26.5%4.1%-0.2%38.1M-399.9M-24.2M0.522.24174,71591,2571,220,6221,402,078
2023-04-17$49.47$46.0024.2%6.9%30.8%10.2%24.1%4.3%0.2%26.0M-44.0M-23.6M0.681.8553,88436,6661,196,0931,371,179
2023-04-18$50.28$46.0023.4%6.7%30.5%7.4%25.9%3.6%0.2%34.8M-424.5M-24.0M0.651.8559,14338,6291,208,6141,378,731
2023-04-19$50.36$46.0022.6%6.5%29.8%4.6%23.9%3.5%0.3%36.7M-446.8M-23.8M1.031.9731,74232,7381,219,2781,400,176
2023-04-20$49.45$46.0024.0%6.8%29.2%9.3%23.2%3.6%0.6%29.3M38.3M-23.7M0.742.1069,47051,5951,224,0631,407,693
2023-04-21$49.03$47.5024.1%6.9%28.8%9.7%25.5%3.8%0.7%-252.2K213.5M-23.6M0.662.0652,81734,9051,240,9021,427,653
2023-04-24$49.06$47.5023.5%6.6%28.2%7.8%23.4%3.7%0.4%12.3M459.7M-23.2M0.792.3834,40827,2231,121,7851,283,705
2023-04-25$48.05$47.5026.7%7.6%26.1%18.6%27.0%5.1%0.1%-938.3K920.3M-22.8M0.872.5845,53939,6461,134,2451,297,649
2023-04-26$46.72$47.5028.8%8.4%28.4%25.5%29.0%6.1%-0.1%-17.1M1.42B-22.0M0.972.0550,26448,6301,146,3861,313,901
2023-04-27$47.05$47.5025.8%7.2%27.6%15.5%25.0%5.1%0.0%-17.2M1.24B-22.1M0.271.94139,40137,8691,160,9871,324,973
2023-04-28$46.89$47.5025.1%7.1%27.7%13.3%25.8%5.5%0.4%-11.3M1.20B-22.5M1.362.2834,85247,5041,175,9461,333,763