HI Options History — March 2020

In March 2020, HI traded between $14.47 and $23.76. ATM implied volatility averaged 102.8%, placing in the 75.8% IV rank vs the trailing year. The 30-day expected move averaged 29.5%. IV traded above realized volatility by 25.8% (HV 20d: 77.0%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 16 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.85.

Notable Days

  • 2020-03-16: Highest Volume — 901 contracts
  • 2020-03-09: Largest IV spike — 110.7% change
  • 2020-03-03: Highest IV Rank — 100.0%
  • 2020-03-12: Largest Expected Move — 44.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.16$14.47$23.76$23.51$18.82
Max Pain$28.64$25.00$30.00$30.00$25.00
ATM IV102.8%53.3%156.5%56.8%93.6%
Expected Move29.5%15.3%44.9%16.3%26.8%
HV 20d77.0%43.0%119.8%43.1%119.8%
HV 60d49.8%31.0%73.1%31.0%73.1%
IV Rank75.8%53.8%100.0%75.8%55.8%
IV Percentile98.1%94.4%100.0%98.8%94.4%
Term Structure-25.2%-64.2%-1.2%-1.2%-3.1%
VWIV97.9%46.6%147.7%46.6%90.6%
Skew 25d21.7%-2.4%75.1%11.4%-2.4%
Skew 10d49.1%-0.9%109.7%9.0%4.3%
Call IV 25d92.7%49.4%148.5%49.4%84.5%
Put IV 25d114.3%60.9%214.6%60.9%82.1%
Bid-Ask Spread %82.2351.7199.9885.3699.98
Gamma HHI0.220.150.290.280.15
Net GEX-965-36.6K15.4K-20.0K4.4K
Net DEX1.0M117.4K1.9M1.6M125.7K
Net VEX-9.1K-11.0K-6.9K-7.3K-10.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.850.005.851.050.47
Total Volume204.5690125828
Total OI4,836.5913,9635,7973,9635,182

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-03-02$23.51$30.0056.8%16.3%43.1%75.8%46.6%11.4%-1.2%-20.0K1.6M-7.3K1.0585.36N/AN/A1261322,5121,451
2020-03-03$23.03$30.0072.4%20.8%43.0%100.0%0.0%13.3%-25.6%-36.6K1.9M-6.9K1.0484.47N/AN/A1081122,6291,573
2020-03-04$23.76$30.0053.3%15.3%44.9%67.1%0.0%9.6%-8.3%-13.2K1.4M-9.1K0.0062.71N/AN/A3002,7371,576
2020-03-05$23.16$30.0061.7%19.4%44.3%81.7%57.3%11.8%-21.0%-5.6K1.3M-9.8K0.0072.41N/AN/A602,7671,576
2020-03-06$23.08$30.0057.3%20.0%43.4%74.0%72.3%13.2%-18.4%-6.2K1.3M-10.0K5.8575.65N/AN/A13762,7721,576
2020-03-09$21.55$30.00120.7%26.2%47.8%100.0%84.6%13.7%-16.1%3.9K1.2M-9.8K1.2192.75N/AN/A1031252,7831,576
2020-03-10$21.53$30.0080.5%26.9%46.8%62.2%89.1%22.5%-31.1%4081.4M-9.9K0.7074.25N/AN/A106742,7671,665
2020-03-11$19.72$30.00108.2%31.0%52.7%88.2%104.1%36.0%-45.2%2421.7M-8.1K0.1851.71N/AN/A130242,8851,697
2020-03-12$17.74$30.00156.5%44.9%59.9%100.0%147.7%75.1%-64.2%3.1K1.5M-8.1K0.8583.34N/AN/A1501272,9101,716
2020-03-13$17.29$30.00136.3%39.1%59.8%85.7%0.0%33.5%-52.5%1.2K1.6M-7.2K3.6468.13N/AN/A853093,0081,690
2020-03-16$17.20$30.00121.5%34.8%59.4%75.3%121.9%28.6%-23.1%15.4K1.4M-9.0K0.0196.65N/AN/A889123,0911,887
2020-03-17$17.52$30.00136.7%39.2%61.1%86.0%114.8%11.8%-44.4%7.4K669.0K-11.0K2.7484.77N/AN/A571563,9001,897
2020-03-18$14.47$30.00132.9%38.1%85.8%83.4%114.6%2.2%-35.7%5.1K1.1M-8.2K0.2270.75N/AN/A218473,9401,831
2020-03-19$15.97$30.00142.5%40.9%95.5%90.1%124.5%18.3%-46.8%2.7K803.7K-9.3K0.0595.93N/AN/A281143,9041,765
2020-03-20$16.89$30.0096.1%27.6%97.7%57.5%103.2%22.4%-11.7%1.5K844.4K-9.4K0.1781.55N/AN/A77133,9231,762
2020-03-23$15.21$30.00123.2%35.3%101.6%76.5%108.1%20.4%-29.1%2.1K942.4K-7.8K0.2575.29N/AN/A81203,1841,657
2020-03-24$17.05$25.00100.9%28.9%112.8%60.9%101.7%22.5%-12.1%1.6K598.7K-8.7K0.1976.65N/AN/A78153,2411,545
2020-03-25$18.18$25.00107.1%30.7%116.4%65.2%93.7%33.5%-13.7%2.0K246.7K-10.0K0.0199.20N/AN/A17713,2491,539
2020-03-26$19.20$25.0090.8%26.0%119.0%53.8%110.0%28.2%-19.6%-397117.4K-10.2K0.0093.10N/AN/A24203,3891,539
2020-03-27$18.22$25.00107.3%30.8%119.4%65.4%91.6%23.2%-6.4%3.6K248.5K-10.1K0.0799.33N/AN/A182123,4421,539
2020-03-30$18.36$25.00105.0%30.1%119.1%63.8%83.3%27.9%-24.4%6.1K237.2K-10.1K0.0385.00N/AN/A6123,5891,544
2020-03-31$18.82$25.0093.6%26.8%119.8%55.8%90.6%-2.4%-3.1%4.4K125.7K-10.4K0.4799.98N/AN/A1993,6301,552