C Options History — May 2023

In May 2023, C traded between $44.30 and $47.27. ATM implied volatility averaged 29.2%, placing in the 26.8% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded above realized volatility by 1.3% (HV 20d: 27.9%). Max pain ranged from $46.00 to $47.50. Net GEX was positive for 1 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.84.

Notable Days

  • 2023-05-24: Highest Volume — 133,911 contracts
  • 2023-05-04: Largest IV spike — 17.9% change
  • 2023-05-04: Highest IV Rank — 46.4%
  • 2023-05-04: Largest Expected Move — 10.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.72$44.30$47.27$47.27$44.36
Max Pain$47.36$46.00$47.50$47.50$46.00
ATM IV29.2%25.4%35.0%25.4%29.1%
Expected Move8.5%7.1%10.2%7.1%8.2%
HV 20d27.9%23.7%31.5%27.4%26.3%
HV 60d34.7%33.8%35.6%33.9%35.3%
IV Rank26.8%14.1%46.4%14.1%26.7%
IV Percentile31.4%13.1%63.5%13.1%32.1%
Term Structure0.2%-0.9%2.3%0.3%-0.9%
VWIV30.3%25.2%37.6%25.2%28.7%
Skew 25d7.2%5.4%10.3%5.4%6.2%
Skew 10d14.3%10.4%20.1%10.4%11.9%
Call IV 25d26.2%22.7%31.3%22.7%26.0%
Put IV 25d33.4%28.1%41.6%28.1%32.2%
Bid-Ask Spread %2.071.593.052.042.27
Gamma HHI0.080.060.100.070.07
Net GEX-12.6M-28.6M8.9M-3.2M-22.8M
Net DEX1.21B704.1M1.64B851.0M1.53B
Net VEX-21.2M-22.4M-19.8M-22.2M-19.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.840.391.430.930.81
Total Volume75,117.72739,471133,91164,87776,446
Total OI2,519,953.6362,439,2612,598,4032,439,2612,576,473

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-05-01$47.27$47.5025.4%7.1%27.4%14.1%25.2%5.4%0.3%-3.2M851.0M-22.2M0.932.0433,63631,2411,158,6171,280,644
2023-05-02$46.13$47.5029.3%8.6%28.8%27.2%30.8%6.7%0.3%-13.8M1.24B-22.0M0.862.8162,04353,5961,167,0471,289,771
2023-05-03$45.80$47.5029.7%8.7%28.0%28.5%31.4%7.4%0.2%-15.7M1.34B-22.0M1.172.3233,92339,7801,192,2431,306,002
2023-05-04$44.80$47.5035.0%10.2%29.1%46.4%37.6%10.3%-0.1%-23.3M1.55B-21.3M0.913.0566,45360,5061,198,4111,298,116
2023-05-05$46.33$47.5030.2%8.9%31.5%30.4%31.4%8.1%0.2%-9.7M1.01B-22.4M0.802.1636,55729,2451,231,1721,309,003
2023-05-08$46.30$47.5030.1%8.9%31.2%29.8%33.7%8.0%0.8%-7.8M1.05B-22.2M0.751.8923,79017,9151,201,4791,283,184
2023-05-09$46.59$47.5028.8%8.9%30.7%25.5%31.2%7.9%2.3%-3.7M960.1M-22.3M1.431.7219,17127,4981,211,6171,292,924
2023-05-10$46.39$47.5029.6%8.7%30.6%28.3%32.4%7.6%0.7%-7.3M1.01B-21.8M0.892.2420,90918,5621,214,2891,297,526
2023-05-11$46.02$47.5029.9%8.7%30.4%29.1%30.4%7.8%0.7%-9.6M1.11B-21.7M0.551.8463,33435,0311,219,0971,291,387
2023-05-12$45.31$47.5030.8%9.0%23.7%32.4%31.2%7.8%0.9%-20.2M1.38B-21.0M0.581.8539,66122,8881,237,3141,309,061
2023-05-15$46.00$47.5028.5%8.2%24.7%24.5%28.6%7.1%-0.5%-9.4M1.12B-21.2M0.741.5929,46421,8931,226,8481,286,353
2023-05-16$45.39$47.5029.8%8.6%23.8%28.7%28.8%7.1%-0.3%-16.4M1.33B-20.7M0.671.6729,73320,0121,234,0571,289,320
2023-05-17$47.02$47.5026.1%7.5%27.7%16.6%26.1%6.7%0.3%8.9M704.1M-21.7M0.392.0060,72023,7621,247,6791,295,682
2023-05-18$46.39$47.5027.7%8.0%27.4%21.9%29.1%6.2%-0.1%-851.3K942.3M-21.0M0.721.6739,14828,0411,254,2521,302,823
2023-05-19$45.75$47.5027.9%8.0%27.6%22.6%29.3%7.6%-0.3%-10.6M1.26B-20.7M0.801.6735,62828,4241,263,7831,311,042
2023-05-22$45.77$47.5027.6%8.0%27.6%21.3%27.9%6.9%0.3%-10.7M1.14B-20.6M1.131.8129,42633,1041,195,2881,244,575
2023-05-23$46.05$47.5028.4%8.3%27.0%24.4%28.3%7.3%0.2%-7.9M1.05B-21.1M1.052.3033,48835,0991,210,1471,266,939
2023-05-24$44.58$47.5031.2%9.4%27.6%33.5%33.3%7.1%0.0%-23.3M1.52B-20.2M1.042.2165,57468,3371,226,4681,289,837
2023-05-25$44.30$47.5030.6%8.7%27.4%31.5%29.7%6.6%0.3%-28.6M1.64B-20.0M0.432.3788,89337,9251,255,1441,318,964
2023-05-26$44.59$47.0028.0%8.3%27.6%22.7%29.2%6.1%0.5%-22.5M1.55B-20.2M0.612.1247,46828,7931,271,3471,327,056
2023-05-30$44.70$46.5028.2%8.4%27.4%23.4%31.4%6.3%-0.8%-19.0M1.47B-19.9M1.131.9126,10229,3711,253,7021,302,297
2023-05-31$44.36$46.0029.1%8.2%26.3%26.7%28.7%6.2%-0.9%-22.8M1.53B-19.8M0.812.2742,22534,2211,265,5871,310,886