IT Options History — February 2023

In February 2023, IT traded between $327.66 and $353.99. ATM implied volatility averaged 31.7%, placing in the 11.1% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded above realized volatility by 7.3% (HV 20d: 24.5%). Max pain ranged from $320.00 to $330.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 1.60.

Notable Days

2023-02-06: Highest Volume — 1,764 contracts
2023-02-07: Largest IV drop — 48.9% change
2023-02-06: Highest IV Rank — 47.4%
2023-02-01: Largest Expected Move — 12.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$342.57	$327.66	$353.99	$348.46	$328.17
Max Pain	$328.42	$320.00	$330.00	$330.00	$330.00
ATM IV	31.7%	25.7%	54.6%	44.7%	27.4%
Expected Move	8.4%	7.4%	12.8%	12.8%	7.9%
HV 20d	24.5%	20.5%	26.5%	21.3%	26.3%
HV 60d	22.4%	21.6%	23.7%	22.9%	21.6%
IV Rank	11.1%	1.1%	47.4%	31.6%	4.4%
IV Percentile	27.8%	1.6%	97.6%	81.3%	14.3%
Term Structure	-0.5%	-11.4%	3.3%	-11.4%	-1.4%
VWIV	30.1%	25.5%	44.7%	44.7%	28.8%
Skew 25d	4.2%	1.9%	6.8%	6.8%	2.4%
Skew 10d	9.7%	0.5%	18.5%	11.4%	10.7%
Call IV 25d	27.9%	22.7%	40.9%	40.9%	27.8%
Put IV 25d	32.1%	27.7%	47.8%	47.8%	30.2%
Bid-Ask Spread %	86.24	79.14	91.41	79.14	86.46
Gamma HHI	0.32	0.23	0.42	0.33	0.41
Net GEX	6.6M	4.6M	7.9M	4.6M	6.7M
Net DEX	-94.7M	-136.2M	-38.5M	-107.7M	-39.5M
Net VEX	-249.4K	-286.1K	-189.8K	-267.9K	-189.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.60	0.01	9.00	1.07	0.50
Total Volume	368.158	13	1,764	62	15
Total OI	8,504.474	6,774	10,271	7,145	6,904

Daily Data (19 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
2023-02-01	$348.46	$330.00	44.7%	12.8%	21.3%	31.6%	44.7%	6.8%	-11.4%	4.6M	-107.7M	-267.9K	1.07	79.14	30	32	5,403	1,742
2023-02-02	$348.09	$320.00	47.4%	10.0%	20.5%	35.9%	36.2%	3.8%	-3.6%	4.7M	-106.7M	-268.6K	0.59	80.42	34	20	5,413	1,760
2023-02-03	$341.14	$320.00	48.8%	10.1%	20.8%	38.0%	34.5%	4.5%	-3.8%	4.7M	-92.0M	-271.1K	0.01	80.82	1,334	8	5,429	1,776
2023-02-06	$341.62	$320.00	54.6%	9.8%	20.5%	47.4%	33.5%	6.3%	-2.6%	5.4M	-93.4M	-267.3K	0.37	81.21	1,284	480	6,254	1,783
2023-02-07	$353.99	$330.00	27.9%	7.4%	23.7%	4.6%	26.0%	5.1%	3.1%	7.7M	-136.2M	-264.9K	0.43	85.66	644	277	7,459	2,192
2023-02-08	$347.32	$330.00	26.9%	7.7%	24.9%	3.0%	28.4%	4.4%	2.4%	7.5M	-118.1M	-286.1K	0.97	86.00	364	354	7,656	2,385
2023-02-09	$352.05	$330.00	27.8%	8.0%	24.5%	5.1%	28.6%	5.3%	2.1%	7.8M	-132.3M	-275.6K	0.78	85.83	233	181	7,644	2,307
2023-02-10	$348.14	$330.00	27.4%	7.9%	24.7%	4.4%	28.8%	4.5%	2.3%	7.0M	-115.4M	-282.7K	0.10	85.88	310	31	7,693	2,466
2023-02-13	$351.52	$330.00	27.7%	7.9%	24.9%	4.9%	29.0%	3.3%	2.5%	7.9M	-132.1M	-259.7K	0.03	84.15	361	10	7,788	2,483
2023-02-14	$343.48	$330.00	27.5%	7.9%	26.2%	4.6%	25.5%	3.0%	2.2%	7.4M	-104.2M	-256.6K	0.53	89.06	169	90	7,669	2,488
2023-02-15	$344.13	$330.00	26.3%	7.5%	25.8%	2.3%	26.2%	4.0%	3.3%	7.1M	-107.1M	-258.6K	0.00	88.70	0	124	7,686	2,502
2023-02-16	$347.09	$330.00	25.7%	7.4%	25.3%	1.1%	27.7%	2.8%	0.0%	7.5M	-117.9M	-249.4K	0.80	91.04	150	120	7,686	2,576
2023-02-17	$344.08	$330.00	26.8%	7.7%	24.9%	3.3%	25.5%	4.9%	-1.3%	6.4M	-104.2M	-247.4K	0.38	91.33	26	10	7,610	2,658
2023-02-21	$339.63	$330.00	27.4%	7.8%	25.4%	4.3%	28.9%	4.9%	-0.3%	6.2M	-75.0M	-234.4K	3.56	90.37	9	32	5,336	1,438
2023-02-22	$333.77	$330.00	27.4%	7.8%	26.1%	4.3%	27.4%	4.2%	-0.9%	6.6M	-59.5M	-224.5K	9.00	91.41	5	45	5,340	1,466
2023-02-23	$335.79	$330.00	26.5%	7.6%	26.0%	2.6%	31.7%	3.6%	-1.3%	6.8M	-64.1M	-225.3K	5.50	86.54	2	11	5,340	1,499
2023-02-24	$332.65	$330.00	27.2%	7.8%	26.3%	3.9%	30.8%	4.1%	-0.0%	6.8M	-55.1M	-215.4K	2.76	89.40	29	80	5,341	1,510
2023-02-27	$327.66	$330.00	27.9%	8.0%	26.5%	5.3%	30.4%	1.9%	-1.2%	6.5M	-38.5M	-192.6K	1.39	85.17	38	53	5,349	1,554
2023-02-28	$328.17	$330.00	27.4%	7.9%	26.3%	4.4%	28.8%	2.4%	-1.4%	6.7M	-39.5M	-189.8K	0.50	86.46	10	5	5,324	1,580