IHDG Options History — April 2020

In April 2020, IHDG traded between $29.36 and $33.36. ATM implied volatility averaged 43.3%, placing in the 25.6% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded below realized volatility by 4.4% (HV 20d: 47.8%). Max pain ranged from $21.00 to $39.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 0 of 21 days.

Notable Days

  • 2020-04-03: Highest Volume — 74 contracts
  • 2020-04-07: Largest IV spike — 109.0% change
  • 2020-04-07: Highest IV Rank — 43.8%
  • 2020-04-01: Largest Expected Move — 18.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.80$29.36$33.36$29.36$32.59
Max Pain$21.86$21.00$39.00$39.00$21.00
ATM IV43.3%25.1%68.2%65.2%48.9%
Expected Move11.7%6.7%18.7%18.7%14.0%
HV 20d47.8%26.6%74.7%74.7%26.6%
HV 60d47.7%46.1%48.3%46.1%48.3%
IV Rank25.6%12.3%43.8%41.7%29.8%
IV Percentile73.9%41.7%92.9%92.5%82.5%
Term Structure-8.9%-18.7%-4.5%-18.7%-14.9%
VWIV73.0%73.0%73.0%73.0%73.0%
Skew 25d6.1%-3.1%8.9%7.8%5.4%
Skew 10d10.5%-2.0%16.7%-2.0%12.9%
Call IV 25d42.4%22.9%66.9%66.9%56.7%
Put IV 25d48.4%26.6%74.7%74.7%62.1%
Bid-Ask Spread %147.50135.01153.68153.47151.12
Gamma HHI0.640.411.000.940.50
Net GEX243-1451.4K9686
Net DEX-781-7.2K1.0K-5.6K-90
Net VEX-13-730-31-3
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume5.905074500
Total OI97.19511368651

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-04-01$29.36$39.0065.2%18.7%74.7%41.7%0.0%7.8%-18.7%968-5.6K-310.00153.47N/AN/A050860
2020-04-02$29.83$21.0048.0%11.1%74.6%29.1%0.0%7.5%-5.8%342-1.3K-80.00135.34N/AN/A008650
2020-04-03$29.46$21.0049.1%11.3%74.5%29.9%73.0%7.2%-4.5%-58726-170.00135.01N/AN/A0748650
2020-04-06$30.90$21.0032.6%6.7%72.7%17.8%0.0%3.7%-7.8%48-112-10.00137.55N/AN/A008650
2020-04-07$31.22$21.0068.2%12.4%71.2%43.8%0.0%7.5%-4.5%1.4K-7.2K-380.00152.91N/AN/A008650
2020-04-08$31.52$21.0040.9%11.7%68.7%23.9%0.0%3.8%-4.6%1.0K-1.6K-730.00151.74N/AN/A008650
2020-04-09$32.15$21.0025.8%7.4%60.8%12.8%0.0%-3.1%-7.4%311-784-40.00149.44N/AN/A008650
2020-04-13$31.78$21.0043.9%12.6%58.6%26.0%0.0%7.9%-6.8%577-1.4K-180.00151.95N/AN/A008650
2020-04-14$32.34$21.0042.8%12.3%45.9%25.3%0.0%7.6%-6.8%652-1.6K-150.00152.86N/AN/A008650
2020-04-15$31.82$21.0043.9%12.6%44.3%26.1%0.0%7.1%-7.1%84525-150.00151.93N/AN/A008650
2020-04-16$32.01$21.0036.2%10.4%40.4%20.4%0.0%7.6%-6.8%-26128-40.00138.88N/AN/A008650
2020-04-17$32.63$21.0032.7%9.4%38.0%17.9%0.0%7.0%-4.9%22-118-30.00139.84N/AN/A008650
2020-04-20$32.46$21.0039.8%11.4%37.5%23.0%0.0%3.3%-10.4%35-127-10.00137.49N/AN/A00150
2020-04-21$31.96$21.0032.5%9.3%37.5%17.7%0.0%6.3%-8.3%-20102-30.00150.77N/AN/A00150
2020-04-22$32.43$21.0046.9%13.4%31.6%28.2%0.0%8.9%-10.2%-116767-100.00152.38N/AN/A00150
2020-04-23$32.14$21.0047.0%13.5%30.7%28.3%0.0%7.8%-10.7%-1451.0K-120.00153.03N/AN/A00150
2020-04-24$32.41$21.0047.0%13.5%30.6%28.3%0.0%8.6%-12.2%-75444-80.00153.12N/AN/A00150
2020-04-27$32.68$21.0046.4%13.3%28.5%27.9%0.0%6.3%-12.0%-1210-40.00153.68N/AN/A00150
2020-04-28$32.85$21.0047.2%13.5%27.6%28.5%0.0%5.7%-13.1%9-124-30.00153.37N/AN/A00150
2020-04-29$33.36$21.0025.1%7.2%27.8%12.3%0.0%3.5%-8.8%40-9500.00141.66N/AN/A00150
2020-04-30$32.59$21.0048.9%14.0%26.6%29.8%0.0%5.4%-14.9%6-90-30.00151.12N/AN/A00150