C Options History — January 2024

In January 2024, C traded between $51.14 and $57.16. ATM implied volatility averaged 25.4%, placing in the 17.8% IV rank vs the trailing year. The 30-day expected move averaged 7.3%. IV traded above realized volatility by 3.0% (HV 20d: 22.4%). Max pain ranged from $45.00 to $52.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.39.

Notable Days

  • 2024-01-12: Highest Volume — 562,015 contracts
  • 2024-01-12: Largest IV drop — 15.4% change
  • 2024-01-04: Highest IV Rank — 37.5%
  • 2024-01-03: Largest Expected Move — 9.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$53.32$51.14$57.16$52.84$56.25
Max Pain$51.43$45.00$52.50$45.00$52.50
ATM IV25.4%20.8%31.3%29.0%23.3%
Expected Move7.3%6.1%9.1%8.6%7.0%
HV 20d22.4%19.5%27.6%23.9%27.4%
HV 60d23.8%22.5%24.7%23.8%24.0%
IV Rank17.8%2.2%37.5%29.7%10.6%
IV Percentile40.8%2.4%83.3%75.4%22.2%
Term Structure-0.8%-1.9%0.3%-1.0%-0.0%
VWIV25.7%21.4%32.4%30.9%24.8%
Skew 25d0.7%-0.3%1.5%1.1%-0.0%
Skew 10d0.9%-1.9%2.1%1.7%-0.3%
Call IV 25d25.1%20.5%30.9%28.4%23.5%
Put IV 25d25.8%21.4%31.9%29.5%23.5%
Bid-Ask Spread %2.361.693.142.092.89
Gamma HHI0.150.110.230.110.13
Net GEX133.3M67.3M203.0M162.5M129.7M
Net DEX-3.71B-5.35B-2.36B-4.55B-3.94B
Net VEX-24.3M-25.5M-23.1M-24.8M-24.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.390.210.790.230.40
Total Volume235,370.33387,486562,015278,604314,699
Total OI3,155,695.7142,434,7423,799,6743,304,8272,579,617

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-01-02$52.84$45.0029.0%8.6%23.9%29.7%30.9%1.1%-1.0%162.5M-4.55B-24.8M0.232.09226,94551,6591,991,4781,313,349
2024-01-03$53.67$45.0030.6%9.1%24.1%35.1%32.4%0.9%-1.5%158.4M-5.06B-24.5M0.282.10367,002104,2812,019,1461,337,296
2024-01-04$53.81$50.0031.3%8.2%23.0%37.5%29.4%1.0%-1.9%203.0M-5.07B-25.2M0.551.80171,16394,3832,079,4611,386,858
2024-01-05$54.36$50.0030.1%8.0%22.1%33.4%28.3%0.6%-1.6%136.4M-5.35B-25.5M0.401.97176,59469,9522,067,4851,422,792
2024-01-08$53.91$50.0029.7%8.0%22.5%32.0%29.3%1.0%-1.9%134.6M-4.68B-25.4M0.381.6992,44334,7532,018,4521,411,909
2024-01-09$53.38$52.5029.1%7.9%23.1%30.0%28.1%0.7%-1.4%127.4M-4.37B-25.2M0.391.75109,83842,5302,016,5171,427,092
2024-01-10$53.00$52.5030.2%8.0%22.3%33.7%27.9%1.4%-1.2%126.4M-4.13B-25.1M0.792.31118,05993,3562,057,7951,446,651
2024-01-11$51.91$52.5028.0%7.7%24.0%26.3%27.3%0.4%-1.7%104.9M-3.40B-24.9M0.692.60257,327178,0462,113,9771,487,692
2024-01-12$52.64$52.5023.7%6.7%22.6%12.0%23.3%-0.3%-0.9%130.1M-3.95B-24.5M0.352.15416,701145,3142,136,4311,534,482
2024-01-16$51.80$52.5024.3%6.9%22.9%14.1%24.5%0.1%-0.5%124.9M-3.38B-23.9M0.453.05112,76151,2722,175,7931,490,656
2024-01-17$51.45$52.5024.4%7.0%21.8%14.5%24.7%0.8%-0.0%130.3M-3.20B-24.0M0.422.36125,74652,3402,228,7591,501,196
2024-01-18$51.14$52.5024.0%7.0%21.9%13.2%24.3%1.3%-1.2%147.2M-3.05B-23.7M0.332.16137,10244,8382,262,4121,510,834
2024-01-19$51.45$52.5023.3%6.8%19.5%10.6%23.6%1.5%-0.0%67.3M-3.32B-23.8M0.232.09139,47532,5272,278,1121,521,562
2024-01-22$52.88$52.5023.4%7.0%20.4%11.1%24.4%0.8%-0.3%105.6M-2.36B-24.1M0.263.14146,91338,5341,431,4721,012,818
2024-01-23$53.34$52.5022.1%6.6%20.5%6.8%23.1%0.8%-0.5%130.1M-2.64B-23.8M0.302.4674,61522,3981,461,4651,027,422
2024-01-24$53.16$52.5021.6%6.5%20.4%4.9%22.5%1.0%-0.1%131.9M-2.54B-23.9M0.212.9396,98220,8331,479,4601,039,668
2024-01-25$53.73$52.5021.5%6.4%20.4%4.8%22.5%0.8%-0.2%153.2M-2.84B-24.2M0.422.5761,63625,8501,490,3921,048,110
2024-01-26$53.78$52.5020.8%6.1%20.4%2.2%21.4%0.9%0.0%173.8M-2.86B-23.5M0.272.5596,51525,7651,500,2181,059,269
2024-01-29$54.09$52.5021.1%6.3%20.4%3.3%22.2%0.9%0.3%110.7M-2.85B-23.4M0.482.3761,65729,4971,386,8401,047,902
2024-01-30$57.16$52.5022.6%6.9%27.6%8.4%24.1%-0.0%-0.1%110.9M-4.42B-23.1M0.302.53370,297110,1791,418,2371,048,533
2024-01-31$56.25$52.5023.3%7.0%27.4%10.6%24.8%-0.0%-0.0%129.7M-3.94B-24.7M0.402.89225,40889,2911,495,4991,084,118