EWC Options History — March 2020

In March 2020, EWC traded between $17.70 and $28.30. ATM implied volatility averaged 55.0%, placing in the 79.7% IV rank vs the trailing year. The 30-day expected move averaged 15.3%. IV traded below realized volatility by 13.9% (HV 20d: 68.9%). Max pain ranged from $23.00 to $30.00. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 110.42.

Notable Days

  • 2020-03-13: Highest Volume — 9,940 contracts
  • 2020-03-09: Largest IV spike — 45.0% change
  • 2020-03-09: Highest IV Rank — 100.0%
  • 2020-03-18: Largest Expected Move — 22.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.47$17.70$28.30$28.04$21.79
Max Pain$26.64$23.00$30.00$30.00$23.00
ATM IV55.0%23.7%79.8%26.2%47.5%
Expected Move15.3%6.8%22.9%7.5%13.6%
HV 20d68.9%22.8%105.7%22.9%105.7%
HV 60d41.6%14.3%62.1%14.4%62.1%
IV Rank79.7%52.0%100.0%58.6%57.2%
IV Percentile98.4%93.7%100.0%99.2%93.7%
Term Structure-8.4%-17.9%-2.1%-3.6%-3.9%
VWIV59.0%24.6%88.3%26.8%61.1%
Skew 25d17.9%7.5%30.6%10.3%22.7%
Skew 10d38.9%8.5%64.9%10.1%52.7%
Call IV 25d45.2%20.1%66.3%21.8%39.4%
Put IV 25d63.2%27.6%94.1%32.1%62.1%
Bid-Ask Spread %76.8014.1799.9599.9514.17
Gamma HHI0.180.100.300.300.17
Net GEX-285.1K-750.0K593.0K7.1K-750.0K
Net DEX46.6M16.0M69.6M25.3M39.3M
Net VEX-174.8K-298.2K-68.5K-285.8K-135.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio110.420.57896.55339.553.48
Total Volume3,160.0451569,9403,746403
Total OI86,484.90974,588109,79781,84576,438

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-03-02$28.04$30.0026.2%7.5%22.9%58.6%26.8%10.3%-3.6%7.1K25.3M-285.8K339.5599.95N/AN/A113,73553,45628,389
2020-03-03$28.02$30.0029.0%8.3%22.8%66.0%28.8%8.7%-6.5%467.8K21.5M-286.5K411.3391.59N/AN/A156,17053,46426,973
2020-03-04$28.30$30.0023.7%6.8%22.8%52.0%24.6%7.5%-3.5%593.0K16.0M-298.2K19.8974.08N/AN/A1835853,47727,175
2020-03-05$27.88$27.0031.4%6.8%22.9%72.6%25.2%7.8%-4.0%403.4K22.6M-284.8K155.0076.53N/AN/A115553,48327,120
2020-03-06$27.22$27.0038.6%8.3%23.7%91.8%30.3%9.3%-5.5%-51.4K30.7M-260.1K44.3384.70N/AN/A626653,48227,266
2020-03-09$24.12$28.0056.0%12.2%47.3%100.0%39.8%12.2%-7.8%-147.4K50.3M-153.3K35.3379.33N/AN/A301,06053,49527,480
2020-03-10$24.41$28.0048.0%12.8%47.8%84.6%47.4%9.0%-11.4%-198.4K48.7M-169.5K896.5588.55N/AN/A119,86253,53727,748
2020-03-11$23.51$28.0051.1%14.7%48.4%90.6%51.3%10.2%-6.1%-490.5K59.9M-199.6K87.5092.34N/AN/A870053,54237,519
2020-03-12$20.46$28.0073.9%21.2%65.3%100.0%77.2%28.2%-13.4%-213.1K60.5M-143.7K120.7682.98N/AN/A688,21253,54937,365
2020-03-13$22.02$28.0068.1%19.5%73.1%91.7%78.8%21.8%-16.8%-370.9K52.2M-223.5K133.3293.41N/AN/A749,86653,59141,056
2020-03-16$20.16$27.0078.6%22.5%77.0%100.0%83.8%26.9%-14.8%-558.5K69.0M-165.4K66.7782.40N/AN/A936,21053,64149,411
2020-03-17$20.14$27.0078.3%22.4%77.0%99.5%88.3%30.6%-17.9%-588.5K69.6M-160.0K0.5779.67N/AN/A5,5273,16753,67449,935
2020-03-18$18.16$27.0079.8%22.9%81.6%100.0%77.6%17.8%-10.9%-478.2K67.5M-133.2K42.6887.25N/AN/A1144,86659,19450,603
2020-03-19$19.16$27.0072.2%20.7%86.0%89.9%77.5%26.7%-10.1%-407.7K64.3M-150.0K13.5578.24N/AN/A751,01659,29147,587
2020-03-20$18.76$27.0060.4%17.3%85.7%74.3%64.8%23.3%-9.0%-371.9K69.5M-98.3K11.9370.57N/AN/A861,02659,33047,577
2020-03-23$17.70$25.0057.4%16.5%86.5%70.4%57.4%21.2%-2.1%-312.7K49.6M-68.5K7.0471.74N/AN/A2031,42940,34634,664
2020-03-24$19.77$25.0053.9%15.5%99.2%65.8%57.9%20.4%-6.3%-472.9K46.3M-97.7K1.5168.57N/AN/A46269740,43034,158
2020-03-25$21.32$23.0063.8%18.3%104.8%78.8%75.7%20.2%-10.4%-489.7K38.5M-145.8K8.0160.06N/AN/A1621,29840,82434,346
2020-03-26$21.55$24.0058.0%16.6%105.1%71.1%83.0%22.3%-8.9%-610.6K39.3M-140.7K9.4473.80N/AN/A8984040,91934,895
2020-03-27$20.84$23.0058.6%16.8%105.1%71.9%72.3%19.1%-5.8%-566.3K41.9M-129.0K2.8080.45N/AN/A17448840,98235,034
2020-03-30$21.05$24.0054.3%15.6%104.4%66.3%68.2%18.6%-5.8%-665.9K43.1M-116.6K17.8059.19N/AN/A2544540,97635,246
2020-03-31$21.79$23.0047.5%13.6%105.7%57.2%61.1%22.7%-3.9%-750.0K39.3M-135.8K3.4814.17N/AN/A9031341,00335,435