IT Options History — April 2023

In April 2023, IT traded between $293.50 and $324.21. ATM implied volatility averaged 32.4%, placing in the 15.7% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded above realized volatility by 7.7% (HV 20d: 24.7%). Max pain ranged from $290.00 to $330.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 2.04.

Notable Days

2023-04-28: Highest Volume — 843 contracts
2023-04-12: Largest IV spike — 46.0% change
2023-04-25: Highest IV Rank — 28.1%
2023-04-25: Largest Expected Move — 11.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$310.25	$293.50	$324.21	$324.21	$302.83
Max Pain	$306.32	$290.00	$330.00	$330.00	$310.00
ATM IV	32.4%	23.5%	39.0%	25.6%	38.9%
Expected Move	9.8%	7.2%	11.2%	7.3%	11.2%
HV 20d	24.7%	21.2%	31.8%	30.4%	24.7%
HV 60d	26.2%	25.2%	27.4%	25.2%	26.3%
IV Rank	15.7%	0.0%	28.1%	2.3%	27.9%
IV Percentile	38.7%	0.0%	66.3%	3.2%	65.9%
Term Structure	-2.5%	-7.5%	10.0%	8.3%	-5.5%
VWIV	34.7%	20.1%	46.9%	24.4%	37.7%
Skew 25d	6.2%	1.2%	9.7%	3.9%	4.2%
Skew 10d	9.1%	-5.3%	21.3%	2.4%	9.1%
Call IV 25d	31.1%	21.1%	37.2%	23.2%	37.2%
Put IV 25d	37.3%	25.8%	43.3%	27.1%	41.4%
Bid-Ask Spread %	86.03	79.43	96.62	94.66	91.71
Gamma HHI	0.20	0.12	0.69	0.14	0.13
Net GEX	20.5K	-1.2M	360.8K	252.6K	181.7K
Net DEX	3.5M	-2.0M	9.9M	-2.0M	2.5M
Net VEX	-48.7K	-67.8K	-30.6K	-67.8K	-38.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.04	0.00	17.00	0.00	8.58
Total Volume	78.842	11	843	119	843
Total OI	1,985.158	1,606	2,191	1,974	1,646

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
2023-04-03	$324.21	$330.00	25.6%	7.3%	30.4%	2.3%	0.0%	3.9%	8.3%	252.6K	-2.0M	-67.8K	0.00	94.66	119	0	1,261	713
2023-04-04	$313.06	$330.00	25.2%	7.2%	31.8%	1.6%	24.4%	1.2%	9.1%	35.9K	3.4M	-59.1K	1.16	94.89	19	22	1,366	713
2023-04-05	$312.86	$330.00	25.8%	7.4%	31.3%	2.7%	20.1%	6.1%	10.0%	62.8K	3.0M	-62.2K	0.00	96.62	21	0	1,368	711
2023-04-06	$312.56	$290.00	24.2%	9.9%	30.8%	0.0%	36.2%	6.3%	-3.3%	39.6K	3.2M	-59.7K	2.80	79.43	5	14	1,375	711
2023-04-10	$314.37	$290.00	26.5%	10.3%	23.8%	4.2%	0.0%	6.7%	-3.9%	39.7K	3.1M	-56.0K	0.04	80.48	27	1	1,374	720
2023-04-11	$316.99	$290.00	23.5%	9.8%	23.9%	0.0%	46.9%	6.3%	-3.8%	143.4K	1.7M	-56.4K	0.08	83.80	12	1	1,390	720
2023-04-12	$320.22	$290.00	34.4%	9.9%	23.8%	19.6%	38.4%	6.9%	-4.0%	248.9K	7.9K	-58.8K	0.23	81.93	13	3	1,394	721
2023-04-13	$321.37	$290.00	33.1%	9.5%	21.6%	17.3%	33.8%	6.5%	-3.4%	280.3K	-133.5K	-56.2K	2.00	87.55	6	12	1,395	721
2023-04-14	$315.55	$300.00	33.8%	9.7%	22.2%	18.6%	33.9%	6.3%	-4.1%	167.3K	2.9M	-52.9K	2.60	81.70	5	13	1,397	733
2023-04-17	$319.11	$300.00	33.3%	9.6%	21.8%	17.7%	33.1%	7.0%	-3.4%	360.8K	1.4M	-53.2K	0.22	85.88	9	2	1,395	745
2023-04-18	$317.24	$300.00	33.5%	9.6%	21.2%	18.0%	32.2%	6.2%	-3.5%	217.9K	2.3M	-52.3K	0.60	85.52	30	18	1,397	745
2023-04-19	$307.05	$310.00	34.2%	9.8%	23.1%	19.3%	33.6%	5.0%	-3.8%	-306.7K	7.4M	-43.0K	0.37	86.08	62	23	1,424	760
2023-04-20	$303.91	$310.00	36.4%	10.4%	23.3%	23.3%	36.7%	6.6%	-5.3%	-522.0K	7.7M	-41.6K	17.00	85.17	1	17	1,425	752
2023-04-21	$301.18	$310.00	35.3%	10.1%	22.3%	21.2%	34.1%	7.8%	-5.6%	-1.2M	9.9M	-36.2K	1.50	86.07	12	18	1,425	766
2023-04-24	$302.25	$310.00	35.8%	10.3%	22.0%	22.3%	34.5%	5.6%	-5.3%	123.1K	4.8M	-36.0K	0.13	84.67	38	5	1,130	476
2023-04-25	$294.90	$310.00	39.0%	11.2%	23.1%	28.1%	37.4%	8.3%	-6.5%	73.1K	6.0M	-31.1K	0.94	87.56	16	15	1,140	477
2023-04-26	$293.50	$310.00	38.8%	11.1%	23.1%	27.6%	37.1%	8.0%	-6.5%	62.2K	6.0M	-30.6K	0.42	80.22	38	16	1,142	472
2023-04-27	$301.54	$310.00	38.6%	11.1%	24.7%	27.2%	40.2%	9.7%	-7.5%	138.9K	3.6M	-34.1K	0.17	80.60	36	6	1,175	443
2023-04-28	$302.83	$310.00	38.9%	11.2%	24.7%	27.9%	37.7%	4.2%	-5.5%	181.7K	2.5M	-38.5K	8.58	91.71	88	755	1,201	445