IHDG Options History — March 2020

In March 2020, IHDG traded between $26.83 and $34.69. ATM implied volatility averaged 77.4%, placing in the 53.7% IV rank vs the trailing year. The 30-day expected move averaged 20.9%. IV traded above realized volatility by 22.3% (HV 20d: 55.2%). Max pain ranged from $39.00 to $39.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.00.

Notable Days

2020-03-20: Highest Volume — 65 contracts
2020-03-12: Largest IV spike — 88.3% change
2020-03-12: Highest IV Rank — 100.0%
2020-03-12: Largest Expected Move — 41.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$30.23	$26.83	$34.69	$33.76	$30.28
Max Pain	$39.00	$39.00	$39.00	$39.00	$39.00
ATM IV	77.4%	45.1%	144.8%	49.2%	46.7%
Expected Move	20.9%	10.0%	41.5%	14.1%	13.4%
HV 20d	55.2%	25.7%	75.4%	25.9%	75.1%
HV 60d	34.4%	17.5%	45.7%	17.5%	45.7%
IV Rank	53.7%	28.1%	100.0%	36.4%	28.1%
IV Percentile	94.5%	81.7%	100.0%	91.7%	81.7%
Term Structure	-15.8%	-38.2%	-3.8%	-15.1%	-8.7%
VWIV	131.8%	127.6%	136.0%	127.6%	136.0%
Skew 25d	0.3%	-52.8%	9.2%	2.4%	8.4%
Skew 10d	-5.4%	-52.8%	25.5%	-11.4%	7.9%
Call IV 25d	78.9%	37.6%	189.5%	55.6%	45.6%
Put IV 25d	79.2%	40.1%	136.7%	58.0%	53.9%
Bid-Ask Spread %	171.23	135.94	187.73	177.53	139.60
Gamma HHI	0.98	0.88	1.00	1.00	0.88
Net GEX	534	23	2.7K	78	520
Net DEX	-6.4K	-40.7K	-404	-1.0K	-2.0K
Net VEX	-29	-154	-3	-5	-11
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	3.864	0	65	0	0
Total OI	28.955	1	86	1	86

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Call OI
2020-03-02	$33.76	$0.00	49.2%	14.1%	25.9%	36.4%	0.0%	2.4%	-15.1%	78	-1.0K	-5	177.53	N/A	N/A	0	1
2020-03-03	$33.80	$0.00	50.6%	14.5%	25.7%	37.6%	0.0%	2.1%	-16.1%	84	-949	-5	175.62	N/A	N/A	0	1
2020-03-04	$34.69	$0.00	45.1%	12.9%	26.8%	32.7%	0.0%	4.6%	-14.2%	100	-1.1K	-5	179.20	N/A	N/A	0	1
2020-03-05	$33.56	$0.00	53.1%	10.0%	28.1%	39.8%	0.0%	2.5%	-5.5%	80	-876	-5	180.55	N/A	N/A	0	1
2020-03-06	$32.95	$0.00	58.4%	10.8%	28.3%	44.5%	0.0%	1.4%	-3.8%	71	-750	-4	172.62	N/A	N/A	0	1
2020-03-09	$30.73	$0.00	71.7%	12.8%	36.1%	56.3%	0.0%	-0.0%	-6.1%	43	-439	-3	187.73	N/A	N/A	0	1
2020-03-10	$32.03	$0.00	93.8%	16.1%	40.3%	76.0%	0.0%	7.8%	-10.4%	53	-846	-4	183.43	N/A	N/A	0	1
2020-03-11	$30.42	$0.00	76.9%	22.0%	42.9%	61.0%	0.0%	-2.4%	-14.6%	38	-831	-4	184.58	N/A	N/A	0	1
2020-03-12	$27.95	$0.00	144.8%	41.5%	49.7%	100.0%	0.0%	-52.8%	-38.2%	23	-977	-4	184.29	N/A	N/A	0	1
2020-03-13	$29.48	$0.00	65.4%	18.7%	55.3%	41.8%	0.0%	8.9%	-11.2%	35	-518	-3	167.55	N/A	N/A	0	1
2020-03-16	$26.83	$0.00	118.7%	34.0%	62.3%	80.9%	0.0%	-6.9%	-24.1%	23	-687	-4	176.08	N/A	N/A	0	1
2020-03-17	$28.15	$0.00	113.0%	32.4%	66.3%	76.7%	0.0%	-5.5%	-23.9%	27	-774	-4	182.10	N/A	N/A	0	1
2020-03-18	$26.98	$0.00	100.2%	28.7%	66.3%	67.3%	0.0%	-3.4%	-20.8%	24	-536	-3	169.89	N/A	N/A	0	1
2020-03-19	$28.30	$0.00	72.3%	20.7%	70.1%	46.9%	127.6%	9.2%	-13.8%	28	-404	-3	162.69	N/A	N/A	20	1
2020-03-20	$27.94	$39.00	112.6%	32.3%	70.1%	76.4%	136.0%	-7.8%	-24.4%	498	-10.9K	-45	184.14	N/A	N/A	65	21
2020-03-23	$27.49	$39.00	95.7%	27.4%	69.4%	64.0%	0.0%	-2.5%	-22.2%	1.7K	-24.3K	-119	174.23	N/A	N/A	0	86
2020-03-24	$29.25	$39.00	90.5%	25.9%	74.3%	60.2%	0.0%	8.6%	-22.7%	2.3K	-33.4K	-137	177.52	N/A	N/A	0	86
2020-03-25	$30.10	$39.00	89.6%	25.7%	75.4%	59.5%	0.0%	7.7%	-24.2%	2.7K	-40.7K	-154	180.27	N/A	N/A	0	86
2020-03-26	$30.45	$39.00	56.6%	16.2%	75.1%	35.4%	0.0%	7.4%	-12.4%	1.7K	-11.3K	-64	152.05	N/A	N/A	0	86
2020-03-27	$29.64	$39.00	49.9%	14.3%	75.1%	30.4%	0.0%	9.0%	-8.0%	820	-4.1K	-25	135.94	N/A	N/A	0	86
2020-03-30	$30.36	$39.00	49.0%	14.1%	75.2%	29.8%	0.0%	9.0%	-6.7%	772	-3.4K	-18	139.37	N/A	N/A	0	86
2020-03-31	$30.28	$39.00	46.7%	13.4%	75.1%	28.1%	0.0%	8.4%	-8.7%	520	-2.0K	-11	139.60	N/A	N/A	0	86