CWH Options History — March 2020

In March 2020, CWH traded between $3.83 and $13.53. ATM implied volatility averaged 157.5%, placing in the 74.8% IV rank vs the trailing year. The 30-day expected move averaged 44.0%. IV traded above realized volatility by 15.8% (HV 20d: 141.7%). Max pain ranged from $6.00 to $15.00. Net GEX was positive for 13 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.53.

Notable Days

  • 2020-03-11: Highest Volume — 7,110 contracts
  • 2020-03-18: Largest IV spike — 43.2% change
  • 2020-03-09: Highest IV Rank — 100.0%
  • 2020-03-18: Largest Expected Move — 68.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$7.46$3.83$13.53$13.53$5.61
Max Pain$10.82$6.00$15.00$12.00$6.00
ATM IV157.5%83.7%238.0%85.9%170.8%
Expected Move44.0%24.0%68.2%24.6%49.0%
HV 20d141.7%38.0%237.0%38.0%236.9%
HV 60d97.7%48.9%143.8%49.1%143.8%
IV Rank74.8%39.9%100.0%42.2%65.0%
IV Percentile97.5%88.9%100.0%92.5%97.2%
Term Structure-20.7%-76.1%11.1%-11.7%-25.2%
VWIV148.2%83.9%235.3%91.3%170.0%
Skew 25d26.8%13.1%47.1%18.7%34.1%
Skew 10d55.6%-20.6%147.7%4.6%120.1%
Call IV 25d139.7%75.6%218.1%79.7%165.2%
Put IV 25d166.5%91.9%252.3%98.4%199.3%
Bid-Ask Spread %64.1216.5495.4122.7878.81
Gamma HHI0.170.140.220.170.14
Net GEX19.8K-6.7K97.5K94.1K8.7K
Net DEX418.3K-6.0M4.0M-6.0M543.0K
Net VEX-34.8K-45.4K-17.2K-44.3K-35.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.530.0815.850.082.51
Total Volume1,921.5456097,1101,637617
Total OI27,077.63617,48034,39917,48030,259

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-03-02$13.53$12.0085.9%24.6%38.0%42.2%91.3%18.7%-11.7%94.1K-6.0M-44.3K0.0822.78N/AN/A1,52111611,9055,575
2020-03-03$12.68$12.0087.2%25.0%42.5%43.6%86.5%13.4%-8.3%97.5K-4.5M-42.3K1.0523.17N/AN/A1,0051,05612,1155,631
2020-03-04$12.28$12.0083.7%24.0%42.4%39.9%83.9%16.3%-6.4%77.3K-2.8M-41.5K2.6816.54N/AN/A28977511,8506,385
2020-03-05$10.59$15.00102.0%24.6%63.1%59.3%89.1%13.1%-7.9%34.6K192.3K-35.6K1.1528.67N/AN/A51159011,9927,076
2020-03-06$10.02$15.00112.2%26.6%64.2%70.0%90.0%16.6%-8.5%23.6K776.8K-33.7K0.2330.70N/AN/A4,21095512,0217,391
2020-03-09$8.82$15.00144.8%32.8%74.2%100.0%115.3%14.9%-20.5%33.3K1.0M-34.2K0.4660.23N/AN/A1,34961815,8627,980
2020-03-10$9.20$15.00130.9%29.9%77.9%86.0%93.9%15.7%-8.6%41.8K718.7K-36.2K0.9527.14N/AN/A1,4211,35616,8007,931
2020-03-11$7.51$13.00124.2%35.6%100.0%79.1%116.9%20.6%-14.7%24.2K1.3M-30.7K15.8569.47N/AN/A4226,68818,0678,027
2020-03-12$6.11$13.00162.4%46.6%114.5%100.0%148.6%22.3%-26.9%-6.7K4.0M-30.1K0.5383.56N/AN/A90448118,39913,785
2020-03-13$6.68$11.00148.5%42.6%121.6%88.1%166.6%40.6%-20.5%-4193.3M-35.7K0.9177.34N/AN/A48744519,19213,795
2020-03-16$6.01$11.00199.3%57.1%121.9%100.0%166.2%19.0%-59.6%-1.1K2.7M-34.3K2.2177.90N/AN/A19643419,57913,895
2020-03-17$5.84$12.00166.2%47.6%121.0%78.4%162.8%36.7%-13.3%-4.8K2.9M-33.1K0.7578.94N/AN/A79859719,61014,170
2020-03-18$3.83$11.00238.0%68.2%176.5%100.0%169.0%18.3%-76.1%-1.7K3.2M-17.2K0.1895.41N/AN/A1,06619020,23213,655
2020-03-19$3.91$11.00233.8%67.0%176.7%97.9%216.6%29.8%-61.3%-2.7K2.4M-21.2K1.5381.93N/AN/A24136821,01113,388
2020-03-20$4.41$11.00236.0%67.7%188.4%99.0%222.6%47.1%-48.6%-2.5K1.9M-24.9K0.1559.51N/AN/A3,32850221,26112,855
2020-03-23$4.64$10.00227.7%65.3%192.6%94.6%235.3%38.3%-26.8%-446639.5K-28.7K0.6177.86N/AN/A49230213,53911,431
2020-03-24$6.13$9.00185.5%53.2%227.3%72.7%186.7%37.9%-22.4%-2.9K70.5K-37.4K0.2782.59N/AN/A1,51841013,86111,827
2020-03-25$6.70$6.00151.2%43.3%232.2%54.8%166.3%38.8%9.1%1.4K-722.2K-42.3K0.2087.05N/AN/A1,71134015,18811,927
2020-03-26$7.10$6.00154.8%44.4%234.6%56.7%154.8%41.3%5.6%3.6K-1.2M-45.4K0.4481.63N/AN/A1,47565015,40212,044
2020-03-27$6.66$6.00145.6%41.7%234.5%51.9%151.7%21.9%11.1%9.3K-1.1M-43.7K0.2984.88N/AN/A59517016,61812,552
2020-03-30$5.80$6.00175.4%50.3%237.0%67.4%176.5%34.6%-14.7%8.7K17.5K-37.0K0.7184.62N/AN/A63044516,98712,638
2020-03-31$5.61$6.00170.8%49.0%236.9%65.0%170.0%34.1%-25.2%8.7K543.0K-35.4K2.5178.81N/AN/A17644117,42212,837