IP Options History — July 2024

In July 2024, IP traded between $42.59 and $47.05. ATM implied volatility averaged 30.7%, placing in the 36.3% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded above realized volatility by 0.3% (HV 20d: 30.4%). Max pain ranged from $42.00 to $42.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 1.44.

Notable Days

  • 2024-07-24: Highest Volume — 21,134 contracts
  • 2024-07-25: Largest IV drop — 13.6% change
  • 2024-07-18: Highest IV Rank — 44.4%
  • 2024-07-22: Largest Expected Move — 9.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.86$42.59$47.05$43.39$46.50
Max Pain$42.43$42.00$42.50$42.00$42.50
ATM IV30.7%25.4%33.6%30.2%25.4%
Expected Move8.6%6.5%9.6%6.9%8.3%
HV 20d30.4%18.5%35.9%35.9%20.4%
HV 60d32.0%30.5%33.1%33.1%31.0%
IV Rank36.3%20.7%44.4%34.7%20.7%
IV Percentile76.0%46.8%87.3%77.4%46.8%
Term Structure-0.3%-3.9%8.3%8.3%2.4%
VWIV30.7%23.0%34.4%25.7%28.9%
Skew 25d1.8%-2.3%8.1%-2.3%1.6%
Skew 10d1.8%-8.4%7.1%5.9%6.0%
Call IV 25d30.3%25.2%38.8%38.8%25.2%
Put IV 25d32.1%26.8%36.5%36.5%26.8%
Bid-Ask Spread %61.9442.3468.4742.3468.47
Gamma HHI0.190.140.240.160.18
Net GEX10.5M4.3M18.1M7.8M13.1M
Net DEX-273.2M-403.0M-163.8M-216.2M-297.7M
Net VEX-1.3M-1.5M-1.0M-1.5M-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.440.056.941.713.10
Total Volume5,545.45580421,1343,7335,230
Total OI270,669.182204,428311,883289,634216,121

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-07-01$43.39$42.0030.2%6.9%35.9%34.7%25.7%-2.3%8.3%7.8M-216.2M-1.5M1.7142.341,3772,356188,541101,093
2024-07-02$43.39$42.0031.9%6.5%34.8%39.7%23.0%0.5%-3.6%7.3M-215.2M-1.4M0.6153.202,1221,302189,425101,642
2024-07-03$43.47$42.0030.9%6.5%32.4%36.8%25.8%2.0%-0.7%7.5M-220.1M-1.5M0.9167.921,6061,467189,949102,439
2024-07-05$42.86$42.5030.9%8.8%32.6%36.7%30.8%1.6%5.4%5.4M-183.1M-1.4M0.9155.663,2452,950191,271102,652
2024-07-08$43.09$42.5031.2%9.0%32.7%37.6%30.7%3.0%0.2%6.4M-209.0M-1.4M3.8253.663,70914,182192,338103,494
2024-07-09$42.61$42.5030.7%9.0%31.5%36.1%31.4%1.8%0.8%4.3M-174.7M-1.4M2.8467.954121,171193,542115,616
2024-07-10$42.59$42.5032.5%8.8%31.4%41.4%30.6%3.6%-2.2%4.3M-163.8M-1.3M3.8764.776322,448193,764115,744
2024-07-11$42.91$42.5030.4%8.7%31.5%35.3%30.2%1.3%0.3%5.4M-186.3M-1.3M0.5367.79633335194,114116,659
2024-07-12$43.72$42.5030.1%8.9%32.3%34.5%30.9%2.0%1.5%9.7M-244.7M-1.3M0.0567.523,986213194,403116,863
2024-07-15$44.22$42.5031.4%9.0%32.2%38.2%32.3%3.4%-0.6%12.4M-278.9M-1.3M2.6966.009882,658196,198115,685
2024-07-16$45.52$42.5031.8%9.1%33.9%39.4%33.1%2.6%-1.7%17.5M-371.7M-1.3M0.2766.083,410912196,598113,627
2024-07-17$46.05$42.5033.2%9.5%34.1%43.3%33.7%2.7%-0.8%18.1M-403.0M-1.2M0.8557.171,5811,342195,305114,462
2024-07-18$45.81$42.5033.6%9.6%33.4%44.4%34.4%0.7%-1.5%15.2M-388.4M-1.2M0.1662.986,6471,082194,727115,467
2024-07-19$45.73$42.5032.5%9.5%33.1%41.2%33.9%1.6%-3.9%10.9M-381.5M-1.2M6.9468.061,0877,549193,357116,166
2024-07-22$46.33$42.5033.2%9.6%33.0%43.5%33.3%-1.7%-3.6%10.2M-285.5M-1.2M0.1458.095,906836124,17881,126
2024-07-23$45.95$42.5031.1%9.3%31.9%37.4%32.6%2.6%-1.1%10.5M-269.8M-1.1M0.7460.023,2102,360122,98981,439
2024-07-24$46.71$42.5032.8%8.8%32.1%42.3%30.6%8.1%-1.4%10.9M-307.0M-1.1M0.3763.2815,4395,695123,61781,221
2024-07-25$46.22$42.5028.4%8.6%32.3%29.4%30.6%1.8%-1.1%12.2M-286.9M-1.1M0.5466.064,3692,366133,86084,410
2024-07-26$47.05$42.5027.9%8.5%18.8%28.1%30.6%2.7%-0.2%15.0M-331.0M-1.1M0.1263.152,274284136,20783,643
2024-07-29$46.86$42.5027.7%8.6%18.5%27.3%31.5%-0.4%-0.1%14.0M-319.2M-1.0M0.2261.271,494331133,25181,822
2024-07-30$45.95$42.5028.5%8.6%20.2%29.7%30.3%1.4%-2.7%12.7M-277.0M-1.1M0.3161.23612192133,60582,092
2024-07-31$46.50$42.5025.4%8.3%20.4%20.7%28.9%1.6%2.4%13.1M-297.7M-1.1M3.1068.471,2763,954133,92882,193