ELAN Options History — May 2023

In May 2023, ELAN traded between $8.09 and $9.64. ATM implied volatility averaged 58.9%, placing in the 52.2% IV rank vs the trailing year. The 30-day expected move averaged 16.0%. IV traded above realized volatility by 10.1% (HV 20d: 48.8%). Max pain ranged from $9.00 to $10.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 1.44.

Notable Days

  • 2023-05-08: Highest Volume — 11,148 contracts
  • 2023-05-09: Largest IV drop — 42.0% change
  • 2023-05-04: Highest IV Rank — 100.0%
  • 2023-05-02: Largest Expected Move — 21.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.78$8.09$9.64$9.64$8.20
Max Pain$9.55$9.00$10.00$9.00$9.00
ATM IV58.9%46.7%92.9%62.4%61.0%
Expected Move16.0%13.4%21.1%17.9%17.5%
HV 20d48.8%37.8%55.8%52.1%37.8%
HV 60d49.1%45.5%52.1%51.1%46.4%
IV Rank52.2%28.0%100.0%70.0%50.3%
IV Percentile79.0%50.0%100.0%92.1%88.1%
Term Structure-2.3%-14.0%4.6%-7.3%-4.7%
VWIV55.6%47.6%74.0%62.4%63.0%
Skew 25d2.7%-14.1%12.1%8.2%-14.1%
Skew 10d5.7%-33.0%47.9%20.8%-33.0%
Call IV 25d54.9%44.9%75.8%61.2%64.2%
Put IV 25d57.7%47.0%79.8%69.4%50.1%
Bid-Ask Spread %36.309.6868.3721.8264.03
Gamma HHI0.350.250.450.390.35
Net GEX248.0K90.4K451.7K294.5K185.7K
Net DEX-2.1M-5.6M219.0K-5.5M-590.3K
Net VEX-59.4K-68.7K-50.5K-67.1K-52.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.440.0123.420.060.03
Total Volume2,139.18212811,1481,3023,121
Total OI50,790.541,52159,35843,94547,623

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$9.64$9.0062.4%17.9%52.1%70.0%62.4%8.2%-7.3%294.5K-5.5M-67.1K0.0621.82N/AN/A1,2247833,56910,376
2023-05-02$9.09$9.0073.5%21.1%55.8%93.1%74.0%8.1%-14.0%233.8K-3.0M-60.7K0.1462.61N/AN/A2,97642233,92210,407
2023-05-03$9.16$9.0073.5%21.1%54.1%93.0%72.2%0.4%-11.4%275.5K-4.4M-67.0K0.0355.35N/AN/A1,2043336,03410,792
2023-05-04$8.95$10.0077.4%17.8%54.7%100.0%62.0%3.7%-4.3%235.4K-3.1M-64.2K0.0847.90N/AN/A4613735,35010,817
2023-05-05$9.32$10.0078.1%17.3%54.5%100.0%58.6%5.3%-4.2%280.0K-4.9M-68.7K1.5537.36N/AN/A12218935,75310,850
2023-05-08$9.36$10.0092.9%17.9%54.5%100.0%62.5%4.2%-6.5%278.7K-5.2M-68.5K0.3060.99N/AN/A8,5652,58335,82611,074
2023-05-09$9.30$10.0053.9%14.2%52.7%39.3%50.7%1.3%2.6%451.7K-5.6M-67.5K0.0820.96N/AN/A4,23132342,09413,626
2023-05-10$9.00$10.0049.1%14.1%53.3%31.7%50.4%2.0%4.6%429.3K-3.7M-64.4K0.1312.41N/AN/A5717443,92213,776
2023-05-11$8.77$10.0054.6%15.7%51.4%40.4%55.1%0.4%-0.9%326.3K-2.1M-61.6K0.1026.51N/AN/A1981944,30613,720
2023-05-12$8.57$10.0048.7%14.0%49.7%31.2%49.4%8.5%2.0%225.5K-120.5K-56.7K0.2326.00N/AN/A2215144,33913,729
2023-05-15$8.82$10.0048.4%13.9%49.2%30.7%48.0%2.6%1.5%354.8K-1.6M-57.0K0.1325.50N/AN/A4365544,43513,450
2023-05-16$8.52$10.0052.5%15.1%50.0%37.1%52.5%5.5%0.3%176.9K219.0K-53.9K0.0256.67N/AN/A1,4572644,66313,486
2023-05-17$8.66$10.0046.7%13.4%50.2%28.0%47.8%5.0%1.0%289.6K-444.6K-54.8K0.6029.61N/AN/A69041444,50213,478
2023-05-18$8.71$10.0051.7%14.8%49.0%35.8%52.0%3.3%-0.4%329.2K-1.5M-56.2K23.4224.23N/AN/A641,49944,83013,106
2023-05-19$8.55$10.0048.6%13.9%48.0%31.0%49.2%1.0%2.4%90.4K12.8K-54.7K2.759.68N/AN/A6718444,81414,544
2023-05-22$8.82$9.0047.9%13.7%48.8%29.9%47.6%4.3%3.3%109.6K-1.2M-56.9K0.0116.83N/AN/A3,4983929,96911,552
2023-05-23$8.61$9.0051.8%14.9%41.4%36.0%52.3%0.9%-0.5%123.9K-1.1M-56.6K0.0247.03N/AN/A10,44417431,15211,567
2023-05-24$8.43$9.0055.8%16.0%41.6%42.1%52.7%5.2%-1.6%212.9K-1.5M-57.3K0.1210.36N/AN/A5486835,70411,685
2023-05-25$8.23$9.0056.6%16.2%42.0%43.5%53.4%12.1%-4.7%183.3K-652.7K-54.3K0.6268.37N/AN/A26816535,84711,550
2023-05-26$8.36$9.0056.1%16.1%42.1%42.8%52.3%3.4%-4.1%203.1K-972.6K-55.2K0.589.73N/AN/A814736,04511,525
2023-05-30$8.09$9.0055.5%15.9%41.6%41.7%55.6%-11.0%-3.0%165.4K217.2K-50.5K0.6364.75N/AN/A835236,03111,551
2023-05-31$8.20$9.0061.0%17.5%37.8%50.3%63.0%-14.1%-4.7%185.7K-590.3K-52.2K0.0364.03N/AN/A3,0249736,09811,525