HI Options History — March 2023

In March 2023, HI traded between $43.51 and $49.83. ATM implied volatility averaged 48.3%, placing in the 27.5% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded above realized volatility by 14.3% (HV 20d: 34.0%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 6 of 23 days. Put/call ratio averaged 2.53.

Notable Days

  • 2023-03-27: Highest Volume — 56 contracts
  • 2023-03-15: Largest IV drop — 56.6% change
  • 2023-03-13: Highest IV Rank — 83.4%
  • 2023-03-31: Largest Expected Move — 15.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.81$43.51$49.83$47.65$47.37
Max Pain$44.35$40.00$45.00$40.00$45.00
ATM IV48.3%26.9%98.9%33.5%55.2%
Expected Move10.8%7.4%15.8%9.6%15.8%
HV 20d34.0%31.0%35.9%31.0%35.5%
HV 60d34.2%31.8%36.8%36.5%32.6%
IV Rank27.5%3.9%83.4%11.2%35.2%
IV Percentile51.7%3.2%99.6%14.3%82.1%
Term Structure-4.9%-25.6%14.2%-8.0%-3.2%
VWIV50.7%28.4%107.0%28.4%34.5%
Skew 25d15.3%-40.2%61.6%38.9%29.8%
Skew 10d14.7%-64.9%120.4%17.4%-25.9%
Call IV 25d34.0%23.1%69.7%29.3%37.2%
Put IV 25d49.4%25.5%84.7%68.2%67.0%
Bid-Ask Spread %110.9298.57121.86121.8699.62
Gamma HHI0.450.300.580.510.49
Net GEX45.3K25.2K77.6K58.7K61.1K
Net DEX-975.5K-1.8M-630.3K-1.2M-1.3M
Net VEX-3.9K-4.8K-2.9K-4.7K-4.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.530.0031.000.0031.00
Total Volume8.043056032
Total OI1,013.8269701,0361,0021,033

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$47.65$40.0033.5%9.6%31.0%11.2%0.0%38.9%-8.0%58.7K-1.2M-4.7K0.00121.86N/AN/A00669333
2023-03-02$49.44$40.0045.5%13.0%33.4%24.4%0.0%-0.2%-16.6%77.6K-1.5M-4.1K0.00107.96N/AN/A110669333
2023-03-03$49.83$40.0038.5%11.0%31.4%16.7%0.0%-40.2%-10.2%76.5K-1.8M-4.5K0.00111.38N/AN/A90680333
2023-03-06$47.73$45.0040.5%8.0%34.8%18.9%0.0%13.4%-6.1%70.4K-1.3M-4.6K0.03110.44N/AN/A321673333
2023-03-07$47.69$45.0048.7%7.4%34.6%27.9%0.0%8.6%0.6%61.9K-1.3M-4.6K0.00119.61N/AN/A00697334
2023-03-08$47.47$45.0058.8%9.4%34.5%39.2%0.0%-0.4%-2.7%59.8K-1.3M-4.7K2.00104.55N/AN/A12697334
2023-03-09$47.03$45.0057.8%9.7%33.9%38.0%0.0%0.7%-0.5%50.6K-1.3M-4.8K0.00112.42N/AN/A00698334
2023-03-10$45.11$45.0082.8%9.8%33.9%65.6%0.0%9.4%-4.5%39.4K-852.7K-3.8K0.00109.61N/AN/A10698334
2023-03-13$44.14$45.0098.9%9.6%33.9%83.4%28.4%-3.3%4.1%34.1K-730.0K-3.6K0.00115.92N/AN/A30699334
2023-03-14$44.58$45.0082.0%10.1%33.2%64.8%0.0%-2.7%-0.8%37.1K-725.1K-3.8K0.00110.40N/AN/A00702334
2023-03-15$43.55$45.0035.6%10.2%33.7%13.5%53.6%13.5%-4.5%36.0K-647.0K-3.0K0.50104.05N/AN/A21702334
2023-03-16$44.20$45.0039.4%11.3%34.3%17.7%42.8%-12.3%-5.1%35.5K-736.1K-3.7K0.00115.11N/AN/A30698335
2023-03-17$43.51$45.0045.2%13.0%34.5%24.1%107.0%43.9%-25.6%25.2K-759.6K-4.0K0.00121.55N/AN/A01700335
2023-03-20$44.16$45.0030.3%8.7%34.6%7.7%31.5%9.9%1.7%31.1K-630.3K-3.4K0.0098.57N/AN/A70645325
2023-03-21$45.51$45.0026.9%7.7%33.7%3.9%0.0%34.7%9.4%34.8K-875.1K-3.9K0.00101.07N/AN/A00652325
2023-03-22$44.52$45.0034.2%9.8%34.6%12.0%37.0%21.7%-11.2%28.5K-750.8K-3.4K0.00108.36N/AN/A120652325
2023-03-23$43.97$45.0037.1%10.6%33.9%15.2%0.0%25.3%0.2%31.2K-677.4K-3.8K0.00117.24N/AN/A00654325
2023-03-24$44.12$45.0050.2%14.4%33.9%29.6%0.0%40.7%-18.8%31.2K-789.4K-3.1K0.00112.29N/AN/A00654325
2023-03-27$45.06$45.0049.1%14.1%34.7%28.3%0.0%7.2%-20.5%32.6K-646.6K-2.9K0.40107.82N/AN/A4016654325
2023-03-28$44.91$45.0047.1%13.5%34.4%26.2%43.8%34.4%-4.5%34.5K-730.1K-3.7K0.00108.27N/AN/A10694341
2023-03-29$46.23$45.0028.4%8.2%35.9%5.6%77.6%61.6%14.2%43.9K-807.0K-3.6K1.50114.67N/AN/A46693341
2023-03-30$45.76$45.0044.1%12.7%33.0%22.9%0.0%18.3%-1.4%50.8K-1.1M-4.0K0.00118.28N/AN/A00697336
2023-03-31$47.37$45.0055.2%15.8%35.5%35.2%34.5%29.8%-3.2%61.1K-1.3M-4.1K31.0099.62N/AN/A131697336