C Options History — July 2023

In July 2023, C traded between $45.33 and $47.75. ATM implied volatility averaged 24.1%, placing in the 10.7% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded above realized volatility by 2.7% (HV 20d: 21.4%). Max pain ranged from $46.00 to $48.00. Net GEX was positive for 8 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 0.74.

Notable Days

  • 2023-07-14: Highest Volume — 203,784 contracts
  • 2023-07-14: Largest IV drop — 16.6% change
  • 2023-07-06: Highest IV Rank — 29.3%
  • 2023-07-05: Largest Expected Move — 7.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.89$45.33$47.75$46.84$47.39
Max Pain$47.13$46.00$48.00$47.00$48.00
ATM IV24.1%20.1%29.9%25.3%20.2%
Expected Move6.8%5.6%7.9%7.3%5.6%
HV 20d21.4%15.6%24.9%15.6%24.5%
HV 60d24.3%23.3%25.3%24.7%23.3%
IV Rank10.7%0.0%29.3%13.6%0.5%
IV Percentile14.9%0.0%48.0%16.7%0.4%
Term Structure-0.7%-2.3%0.5%-1.2%0.0%
VWIV23.7%19.8%28.0%25.6%20.0%
Skew 25d2.8%1.7%4.4%3.4%1.8%
Skew 10d4.2%2.0%7.6%5.2%2.9%
Call IV 25d22.9%19.5%27.7%24.0%20.0%
Put IV 25d25.7%21.4%32.1%27.4%21.7%
Bid-Ask Spread %2.321.793.172.252.54
Gamma HHI0.070.060.080.070.07
Net GEX-3.0M-31.1M30.1M-5.2M-4.5M
Net DEX1.02B546.6M1.53B978.1M1.00B
Net VEX-20.5M-21.4M-19.4M-20.5M-20.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.740.451.710.720.56
Total Volume101,126.1547,669203,78455,31667,142
Total OI2,439,879.352,284,1012,577,0082,284,1012,489,249

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-07-03$46.84$47.0025.3%7.3%15.6%13.6%25.6%3.4%-1.2%-5.2M978.1M-20.5M0.722.2532,25223,0641,095,1191,188,982
2023-07-05$46.70$47.0026.8%7.9%15.6%18.9%27.3%3.9%-1.3%-5.2M1.03B-20.2M0.692.0728,23119,4381,105,4061,196,562
2023-07-06$45.33$47.0029.9%7.9%17.6%29.3%26.0%4.4%-2.3%-23.4M1.53B-19.4M0.462.1889,23741,0851,112,9521,206,490
2023-07-07$45.84$47.0028.4%7.5%16.4%24.1%26.6%4.0%-1.8%-20.6M1.33B-20.2M0.862.0339,37733,7991,141,7451,225,872
2023-07-10$45.72$47.0028.8%7.8%16.3%25.5%26.7%3.9%-1.2%-15.4M1.33B-20.1M1.061.7934,18936,0821,134,5581,209,792
2023-07-11$46.53$47.0028.6%7.7%17.7%24.9%28.0%3.8%-1.4%-8.0M1.04B-20.8M0.612.2269,35542,2141,148,3701,231,686
2023-07-12$47.36$46.0027.9%7.5%19.0%22.5%26.0%3.2%-1.9%5.3M722.6M-21.2M0.562.1754,47930,6661,177,8711,244,664
2023-07-13$47.75$47.0027.9%7.5%19.1%22.6%26.4%2.2%-1.9%8.9M546.6M-21.4M0.862.41109,33193,9561,189,6201,255,960
2023-07-14$45.84$47.0023.3%6.5%23.7%7.1%22.5%2.4%-1.0%-31.1M1.50B-19.5M0.452.98140,11863,6661,225,8631,280,689
2023-07-17$46.30$47.0023.1%6.5%24.0%6.2%22.7%2.6%-0.2%-7.1M1.25B-19.7M0.712.2466,69647,1621,204,7771,244,557
2023-07-18$46.95$47.0022.4%6.4%24.7%3.9%22.9%2.0%0.0%8.0M956.4M-20.6M0.452.5085,52638,6081,213,6071,265,505
2023-07-19$47.61$47.0022.0%6.3%24.8%2.8%22.4%2.1%-0.3%30.1M628.1M-21.0M0.842.1835,49429,9771,237,9711,274,367
2023-07-20$47.30$47.0022.7%6.5%24.9%5.0%22.7%2.6%-0.1%22.6M806.5M-20.7M1.712.1428,05648,0691,249,4061,289,911
2023-07-21$47.16$47.0021.0%6.0%24.1%0.0%21.1%2.3%-0.4%1.5M988.9M-20.6M0.652.1955,86136,1221,258,4101,318,598
2023-07-24$47.66$47.0020.6%6.0%23.7%0.0%21.1%2.3%-0.0%3.1M782.3M-21.0M0.482.2265,29231,5451,158,6711,230,595
2023-07-25$47.09$47.5022.0%6.5%24.1%4.6%22.9%3.4%0.5%-4.9M1.06B-20.7M1.313.1735,35046,1481,191,5731,252,098
2023-07-26$47.34$47.5020.6%6.0%24.1%0.0%20.9%2.7%0.3%-8.4M1.02B-20.7M0.652.3641,61827,0751,209,2601,282,553
2023-07-27$47.75$47.5021.2%6.2%24.2%1.9%21.8%1.7%0.3%7.1M779.5M-21.0M0.532.39117,82762,8951,217,8911,289,000
2023-07-28$47.34$48.0020.1%5.6%24.5%0.0%19.8%1.8%0.5%-13.6M1.03B-20.8M0.642.4546,15829,3631,239,0441,308,343
2023-07-31$47.39$48.0020.2%5.6%24.5%0.5%20.0%1.8%0.0%-4.5M1.00B-20.1M0.562.5443,09924,0431,211,5851,277,664