IP Options History — June 2023

In June 2023, IP traded between $29.09 and $32.14. ATM implied volatility averaged 23.2%, placing in the 11.1% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded below realized volatility by 4.9% (HV 20d: 28.1%). Max pain ranged from $32.50 to $35.00. Net GEX was positive for 5 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 4.85.

Notable Days

  • 2023-06-07: Highest Volume — 19,186 contracts
  • 2023-06-06: Largest IV drop — 14.8% change
  • 2023-06-28: Highest IV Rank — 27.2%
  • 2023-06-01: Largest Expected Move — 7.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.27$29.09$32.14$29.09$31.80
Max Pain$32.86$32.50$35.00$35.00$32.50
ATM IV23.2%20.6%27.1%24.6%25.7%
Expected Move6.2%5.6%7.6%7.6%5.6%
HV 20d28.1%19.3%30.0%19.3%26.9%
HV 60d26.1%24.5%27.3%24.5%25.7%
IV Rank11.1%0.0%27.2%17.0%21.6%
IV Percentile12.5%0.0%42.1%16.7%32.1%
Term Structure0.5%-1.9%5.2%0.1%-1.2%
VWIV22.1%19.3%26.1%24.4%19.4%
Skew 25d3.9%2.1%5.0%4.3%4.5%
Skew 10d9.8%4.1%17.9%16.8%16.9%
Call IV 25d21.5%19.5%24.4%23.6%24.4%
Put IV 25d25.4%22.3%29.3%27.8%28.8%
Bid-Ask Spread %14.926.5941.6910.1313.01
Gamma HHI0.200.140.260.240.18
Net GEX-751.2K-1.9M869.8K-1.6M869.8K
Net DEX54.3M16.4M107.0M107.0M16.4M
Net VEX-413.3K-447.5K-330.1K-330.1K-444.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.850.1125.3610.391.11
Total Volume6,802.38175519,18617,4441,435
Total OI112,469.47683,829133,635126,73493,110

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-06-01$29.09$35.0024.6%7.6%19.3%17.0%24.4%4.3%0.1%-1.6M107.0M-330.1K10.3910.131,53215,91272,65854,076
2023-06-02$30.39$35.0023.4%6.8%25.4%11.9%23.3%3.8%-0.2%-1.9M93.9M-377.4K5.178.572,15011,11773,75554,990
2023-06-05$30.31$35.0025.2%7.1%24.1%19.3%26.1%4.1%0.1%-1.6M91.5M-390.3K7.2841.691,2959,42774,10754,874
2023-06-06$30.82$32.5021.5%6.7%25.1%3.7%22.4%3.5%0.1%-1.6M87.1M-389.3K9.296.609238,57274,95655,630
2023-06-07$32.14$32.5022.5%6.3%29.4%8.2%22.3%4.1%-0.3%-1.7M62.4M-431.9K6.9311.932,42016,76675,51255,831
2023-06-08$31.80$32.5021.5%6.1%29.6%3.8%21.5%3.8%-0.2%-1.5M67.6M-439.7K3.0822.371,7945,52276,63056,246
2023-06-09$31.73$32.5022.4%6.3%29.4%7.5%22.7%3.2%0.4%-1.4M71.8M-419.1K4.9512.771,0905,39177,20256,433
2023-06-12$31.29$32.5023.2%6.2%29.8%10.8%22.5%4.6%-1.9%-1.3M80.3M-405.2K6.5712.178365,48976,42656,263
2023-06-13$31.64$32.5022.9%6.1%30.0%9.9%22.8%4.0%-1.5%-1.4M58.9M-419.5K5.2812.319164,83676,93351,881
2023-06-14$31.84$32.5022.1%6.1%29.9%6.4%21.9%4.1%-0.6%-1.6M56.9M-427.4K25.3612.8361115,49876,96952,365
2023-06-15$31.79$32.5021.8%6.1%29.3%5.1%24.6%4.1%-0.5%-419.7K59.3M-445.4K6.067.437674,64677,32352,596
2023-06-16$31.80$32.5020.6%6.0%29.3%0.0%21.0%2.1%0.7%-543.6K61.4M-420.1K0.5611.2597354477,63052,833
2023-06-20$31.59$32.5020.9%6.0%29.4%1.6%20.5%3.8%5.2%-157.5K31.7M-398.2K0.6035.741,27176247,30136,528
2023-06-21$31.19$32.5021.7%6.2%29.6%4.7%21.2%2.3%4.7%-415.5K33.0M-388.2K1.1015.0836039548,19136,378
2023-06-22$30.84$32.5021.7%5.9%29.5%4.7%23.2%3.7%4.9%-793.9K37.9M-383.0K0.1919.126,4411,22048,38936,480
2023-06-23$30.61$32.5022.1%5.9%29.1%6.6%21.5%3.7%4.4%-274.7K36.2M-406.2K3.4718.3624986353,41636,292
2023-06-26$31.31$32.5025.3%6.0%28.7%19.9%21.6%4.6%-0.4%146.9K25.5M-432.6K0.5411.461,16763352,89036,016
2023-06-27$31.77$32.5025.3%5.9%29.0%19.8%20.9%4.2%-0.6%440.6K19.9M-438.4K0.238.581,37131253,78636,286
2023-06-28$31.34$32.5027.1%6.2%29.1%27.2%19.3%5.0%-1.0%365.5K22.6M-447.5K3.5415.441,0483,71354,45336,371
2023-06-29$31.63$32.5026.2%5.9%27.9%23.3%20.6%4.5%-1.1%557.6K19.4M-445.5K0.116.592,32026355,26036,593
2023-06-30$31.80$32.5025.7%5.6%26.9%21.6%19.4%4.5%-1.2%869.8K16.4M-444.6K1.1113.0167975656,39936,711