IP Options History — June 2022

In June 2022, IP traded between $41.19 and $47.96. ATM implied volatility averaged 29.9%, placing in the 26.7% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded above realized volatility by 3.4% (HV 20d: 26.5%). Max pain ranged from $45.00 to $47.50. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 3.00.

Notable Days

2022-06-03: Highest Volume — 15,118 contracts
2022-06-13: Largest IV spike — 23.8% change
2022-06-13: Highest IV Rank — 40.8%
2022-06-13: Largest Expected Move — 10.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.23	$41.19	$47.96	$47.68	$41.72
Max Pain	$46.55	$45.00	$47.50	$47.50	$45.00
ATM IV	29.9%	25.0%	34.8%	27.3%	34.0%
Expected Move	8.3%	7.2%	10.0%	8.2%	8.3%
HV 20d	26.5%	19.8%	31.9%	23.3%	30.4%
HV 60d	23.8%	21.2%	26.1%	21.5%	26.1%
IV Rank	26.7%	12.4%	40.8%	19.2%	38.7%
IV Percentile	71.1%	28.2%	94.8%	58.3%	92.1%
Term Structure	0.1%	-2.1%	3.8%	-0.9%	-1.0%
VWIV	27.8%	22.1%	32.7%	27.1%	28.5%
Skew 25d	6.0%	3.6%	7.5%	5.8%	6.3%
Skew 10d	11.9%	-0.8%	16.0%	12.7%	13.4%
Call IV 25d	27.3%	22.7%	31.7%	25.2%	31.3%
Put IV 25d	33.3%	27.5%	38.5%	30.9%	37.5%
Bid-Ask Spread %	50.95	17.94	69.61	43.03	43.03
Gamma HHI	0.36	0.28	0.52	0.45	0.29
Net GEX	3.0M	-9.0M	9.4M	8.8M	1.2M
Net DEX	-39.4M	-130.7M	20.2M	-130.7M	12.2M
Net VEX	-1.1M	-1.3M	-874.1K	-1.3M	-882.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.00	1.82	4.45	2.50	2.51
Total Volume	9,074.095	5,143	15,118	10,367	5,700
Total OI	127,857.143	112,913	137,476	129,835	118,499

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2022-06-01	$47.68	$47.50	27.3%	8.2%	23.3%	19.2%	27.1%	5.8%	-0.9%	8.8M	-130.7M	-1.3M	2.50	43.03	2,961	7,406	94,121	35,714
2022-06-02	$47.43	$47.50	26.7%	7.4%	20.1%	17.4%	25.9%	5.3%	-1.1%	8.8M	-117.0M	-1.3M	3.25	52.81	2,742	8,908	95,116	36,730
2022-06-03	$47.03	$47.50	26.8%	7.4%	20.0%	17.7%	23.0%	3.6%	-1.1%	7.6M	-106.8M	-1.3M	2.60	45.42	4,202	10,916	95,340	38,096
2022-06-06	$47.17	$47.50	26.5%	7.3%	19.8%	16.7%	23.2%	4.3%	-0.3%	7.5M	-106.8M	-1.3M	2.37	54.64	3,513	8,336	94,185	39,428
2022-06-07	$47.96	$47.50	25.0%	7.3%	20.7%	12.4%	22.1%	4.8%	0.4%	9.4M	-127.4M	-1.3M	3.80	61.29	1,737	6,601	94,434	39,583
2022-06-08	$47.34	$47.50	26.2%	7.2%	21.2%	15.9%	22.1%	5.4%	-1.3%	8.2M	-112.8M	-1.3M	3.59	63.10	1,851	6,638	94,617	40,092
2022-06-09	$46.51	$47.50	25.7%	7.4%	22.0%	14.5%	24.4%	6.3%	0.0%	5.7M	-84.0M	-1.2M	2.58	57.53	2,825	7,275	95,072	40,591
2022-06-10	$45.23	$47.50	28.1%	8.0%	23.9%	21.4%	26.5%	5.7%	-0.2%	2.9M	-46.7M	-1.2M	3.47	53.73	2,688	9,316	95,225	41,376
2022-06-13	$42.98	$47.50	34.8%	10.0%	29.0%	40.8%	32.7%	6.7%	-0.6%	537.2K	-4.2M	-1.1M	4.45	60.28	1,875	8,353	94,409	40,853
2022-06-14	$43.56	$47.50	33.5%	9.7%	29.7%	37.1%	30.5%	7.5%	-2.1%	967.7K	-11.2M	-1.1M	4.31	63.84	1,895	8,161	95,280	40,685
2022-06-15	$44.02	$47.50	28.8%	8.3%	28.1%	23.6%	28.9%	6.0%	1.2%	1.3M	-26.1M	-1.1M	3.86	69.61	2,234	8,627	95,504	40,814
2022-06-16	$42.67	$47.50	32.7%	9.4%	29.3%	34.7%	32.2%	7.3%	-0.9%	-1.5M	6.4M	-1.0M	2.78	54.72	2,497	6,941	96,088	41,388
2022-06-17	$42.51	$47.50	31.2%	9.0%	29.3%	30.5%	31.2%	7.2%	-0.6%	-9.0M	4.9M	-1.0M	2.92	62.54	2,850	8,321	96,413	40,914
2022-06-21	$41.86	$45.00	30.2%	8.6%	29.4%	27.5%	30.1%	6.3%	3.4%	1.2M	9.4M	-924.7K	2.25	47.75	2,254	5,072	77,526	35,387
2022-06-22	$41.27	$45.00	32.0%	9.1%	28.4%	32.8%	29.9%	6.7%	3.0%	844.6K	19.3M	-874.1K	1.82	30.81	2,281	4,144	78,442	36,624
2022-06-23	$41.19	$45.00	32.1%	9.0%	28.3%	33.2%	31.1%	7.0%	3.8%	851.8K	20.2M	-875.0K	2.45	36.23	1,817	4,458	79,425	36,877
2022-06-24	$42.76	$45.00	29.8%	7.9%	31.9%	26.3%	30.3%	6.5%	2.8%	1.8M	-5.5M	-965.6K	2.72	50.60	2,382	6,469	79,900	37,630
2022-06-27	$42.90	$45.00	31.2%	8.1%	30.9%	30.4%	29.6%	5.9%	-0.2%	2.0M	-14.0M	-1.0M	2.87	56.46	1,424	4,088	80,121	37,081
2022-06-28	$42.44	$45.00	33.3%	8.2%	30.3%	36.5%	27.8%	5.7%	-0.8%	1.7M	-2.5M	-950.0K	3.07	44.52	1,264	3,879	80,405	37,250
2022-06-29	$42.52	$45.00	32.3%	8.3%	30.4%	33.5%	26.2%	5.9%	-0.5%	1.9M	-3.0M	-947.0K	2.79	17.94	1,493	4,162	80,505	37,260
2022-06-30	$41.72	$45.00	34.0%	8.3%	30.4%	38.7%	28.5%	6.3%	-1.0%	1.2M	12.2M	-882.6K	2.51	43.03	1,626	4,074	80,878	37,621