IT Options History — March 2023

In March 2023, IT traded between $301.85 and $341.86. ATM implied volatility averaged 30.0%, placing in the 9.3% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 1.7% (HV 20d: 28.3%). Max pain ranged from $330.00 to $340.00. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 1.85.

Notable Days

  • 2023-03-10: Highest Volume — 484 contracts
  • 2023-03-13: Largest IV spike — 41.6% change
  • 2023-03-13: Highest IV Rank — 48.2%
  • 2023-03-13: Largest Expected Move — 9.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$319.37$301.85$341.86$326.87$323.88
Max Pain$330.43$330.00$340.00$330.00$330.00
ATM IV30.0%24.3%50.9%27.0%24.5%
Expected Move8.1%7.0%9.6%7.7%7.0%
HV 20d28.3%22.1%32.0%26.3%32.0%
HV 60d24.4%21.2%25.9%21.3%25.5%
IV Rank9.3%0.0%48.2%3.7%0.3%
IV Percentile25.4%0.0%97.6%11.1%0.4%
Term Structure4.3%-1.5%8.7%-1.2%8.7%
VWIV28.5%22.8%42.6%29.4%22.8%
Skew 25d5.5%2.8%9.1%3.5%3.2%
Skew 10d10.9%-1.2%19.6%10.6%12.1%
Call IV 25d26.1%22.1%31.3%26.9%23.0%
Put IV 25d31.6%26.3%36.3%30.3%26.3%
Bid-Ask Spread %86.1178.5793.3692.1793.36
Gamma HHI0.280.150.440.410.15
Net GEX3.0M-506.5K9.8M6.6M249.2K
Net DEX-14.5M-86.6M13.3M-34.7M-2.2M
Net VEX-108.0K-185.4K-66.6K-184.2K-71.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.850.0025.670.040.00
Total Volume88.826248423914
Total OI4,938.3041,8847,5946,9071,967

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-03-01$326.87$330.0027.0%7.7%26.3%3.7%29.4%3.5%-1.2%6.6M-34.7M-184.2K0.0492.1723095,3271,580
2023-03-02$329.65$330.0025.8%7.4%22.7%1.4%25.7%2.8%-0.0%7.7M-41.7M-181.8K0.3088.731035,5111,583
2023-03-03$333.30$330.0025.5%7.3%23.2%0.8%24.6%5.7%-1.5%8.2M-52.3M-185.4K0.0385.696325,5161,582
2023-03-06$341.86$330.0025.7%7.0%24.2%1.3%23.1%3.4%4.2%8.7M-86.6M-172.3K0.1483.66264375,4931,581
2023-03-07$334.14$330.0028.8%7.5%25.5%7.0%23.4%4.1%4.4%8.8M-54.4M-169.5K0.0083.991405,6781,573
2023-03-08$338.18$330.0027.3%7.2%22.1%4.1%28.0%3.6%4.1%9.8M-74.5M-171.7K0.7183.7914105,6661,573
2023-03-09$331.91$330.0030.4%7.6%22.1%10.0%26.2%3.7%3.9%9.2M-49.9M-159.4K1.7383.7630525,6671,578
2023-03-10$313.92$340.0035.9%8.8%28.3%20.3%32.1%6.1%1.6%3.9M-5.1M-115.1K4.2082.33933915,6411,577
2023-03-13$314.11$330.0050.9%9.6%28.3%48.2%34.9%5.5%1.5%3.2M2.9M-113.5K1.0481.8657595,6791,915
2023-03-14$317.90$330.0040.2%9.0%28.5%28.2%30.7%6.0%1.7%3.6M3.1M-103.6K2.5782.9921545,6741,862
2023-03-15$309.51$330.0032.2%9.2%28.8%13.4%33.3%4.2%2.1%167.1K13.2M-83.6K2.0078.5716325,6751,721
2023-03-16$305.90$330.0030.1%8.6%28.8%9.4%29.8%6.7%5.0%-259.5K13.3M-74.0K0.7384.6515115,6831,610
2023-03-17$301.85$330.0032.5%9.3%28.4%13.9%0.0%5.9%4.7%-506.5K13.3M-68.0K0.8683.0614125,6831,529
2023-03-20$307.42$330.0030.5%8.7%29.8%10.1%31.7%6.3%5.7%-90.5K5.4M-73.1K25.6785.8561541,174791
2023-03-21$313.94$330.0029.2%8.4%31.1%7.8%28.0%7.4%5.8%48.7K2.4M-74.2K0.0083.302701,178706
2023-03-22$315.11$330.0026.8%7.7%30.7%3.2%29.3%9.1%8.0%75.9K1.6M-73.5K1.2187.931181431,203706
2023-03-23$308.52$330.0029.2%8.4%31.2%7.8%42.6%6.1%6.3%36.9K4.5M-66.6K0.8986.03981,216709
2023-03-24$311.66$330.0030.4%8.7%31.5%9.9%26.9%7.2%5.0%62.2K3.2M-68.2K0.0088.001101,222717
2023-03-27$314.07$330.0028.8%8.2%31.5%6.9%25.1%6.7%6.8%92.0K2.2M-69.7K0.0587.772011,229714
2023-03-28$313.63$330.0028.3%8.1%31.4%6.1%0.0%7.1%6.2%86.7K2.7M-67.4K0.0089.58201,247715
2023-03-29$318.54$330.0024.3%7.0%32.0%0.0%22.8%7.6%7.6%136.6K805.2K-69.1K0.0090.64901,248715
2023-03-30$319.67$330.0024.8%7.1%31.9%0.8%22.8%5.2%8.2%153.8K116.8K-69.4K0.3392.82621,252715
2023-03-31$323.88$330.0024.5%7.0%32.0%0.3%0.0%3.2%8.7%249.2K-2.2M-71.3K0.0093.361401,254713