IT Options History — May 2023

In May 2023, IT traded between $300.68 and $343.68. ATM implied volatility averaged 25.7%, placing in the 4.9% IV rank vs the trailing year. The 30-day expected move averaged 7.4%. IV traded above realized volatility by 2.0% (HV 20d: 23.7%). Max pain ranged from $310.00 to $330.00. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 7.93.

Notable Days

  • 2023-05-01: Highest Volume — 849 contracts
  • 2023-05-02: Largest IV drop — 29.6% change
  • 2023-05-01: Highest IV Rank — 31.6%
  • 2023-05-01: Largest Expected Move — 11.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$319.64$300.68$343.68$308.07$343.68
Max Pain$327.27$310.00$330.00$310.00$330.00
ATM IV25.7%21.9%41.0%41.0%24.6%
Expected Move7.4%6.3%11.7%11.7%7.1%
HV 20d23.7%20.0%25.8%25.1%20.0%
HV 60d26.1%25.2%26.9%26.6%26.3%
IV Rank4.9%0.0%31.6%31.6%4.9%
IV Percentile10.6%0.0%74.6%74.6%6.3%
Term Structure1.4%-9.1%5.7%-9.1%-0.7%
VWIV25.7%19.4%45.0%45.0%24.8%
Skew 25d3.2%-0.4%6.7%6.7%3.0%
Skew 10d4.8%-1.6%18.9%13.8%5.1%
Call IV 25d25.3%21.9%39.6%39.6%23.5%
Put IV 25d28.5%25.0%46.3%46.3%26.5%
Bid-Ask Spread %85.4080.4190.7382.0586.92
Gamma HHI0.360.190.590.380.20
Net GEX-848.3K-1.6M470.8K-421.4K463.0K
Net DEX14.9M-13.4M34.0M15.8M-13.4M
Net VEX-85.0K-97.5K-66.1K-66.1K-70.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.930.29116.409.350.32
Total Volume240.2734584984945
Total OI3,500.6362,4124,0772,4122,994

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-05-01$308.07$310.0041.0%11.7%25.1%31.6%45.0%6.7%-9.1%-421.4K15.8M-66.1K9.3582.05827671,2571,155
2023-05-02$302.05$310.0028.8%8.3%25.8%9.6%29.8%2.4%-0.8%-1.3M29.0M-75.5K3.8989.211716661,3271,865
2023-05-03$307.18$310.0028.0%8.0%23.9%8.1%29.0%4.9%-0.1%-1.2M26.7M-88.8K1.7187.15761301,3871,883
2023-05-04$300.68$330.0028.7%8.3%25.0%9.4%28.1%3.6%2.3%-1.2M32.4M-82.0K4.1380.561134671,4251,961
2023-05-05$302.73$330.0026.5%7.8%25.2%5.3%26.8%3.7%2.5%-1.3M32.1M-81.8K1.6380.4160981,4632,165
2023-05-08$304.27$330.0027.7%7.9%25.1%7.5%25.7%2.6%3.1%-1.3M31.6M-82.8K3.1281.1226811,4982,215
2023-05-09$304.64$330.0027.2%7.7%24.9%6.6%25.8%3.0%3.8%-1.2M30.8M-85.9K2.0881.10641331,5212,248
2023-05-10$305.21$330.0025.0%7.2%24.5%2.7%26.1%3.9%4.3%-1.4M34.0M-83.8K1.7185.4824411,5652,364
2023-05-11$305.76$330.0024.0%6.9%24.5%0.8%19.4%2.2%5.6%-1.3M32.2M-87.1K4.7589.828381,5782,362
2023-05-12$310.71$330.0023.4%6.7%24.6%0.0%24.1%1.6%5.7%-1.2M27.6M-93.5K8.5090.7310851,5842,360
2023-05-15$314.86$330.0025.3%7.2%24.7%3.3%22.1%3.5%4.3%-1.2M24.4M-92.1K8.1486.877571,5872,402
2023-05-16$321.38$330.0024.6%7.0%25.7%2.0%23.9%3.8%4.8%-928.0K15.5M-97.5K0.6188.1864391,5912,360
2023-05-17$323.39$330.0024.2%6.9%22.6%1.4%23.9%3.7%4.6%-961.1K13.2M-94.3K0.3587.65101351,6212,338
2023-05-18$331.60$330.0022.7%6.5%23.4%0.0%23.0%3.1%-0.8%-998.6K3.5M-95.9K0.2987.27119341,6672,354
2023-05-19$330.75$330.0023.5%6.8%23.0%1.5%23.4%4.3%-0.2%-950.9K4.2M-96.2K1.1587.521641881,7222,355
2023-05-22$332.22$330.0023.6%6.8%23.0%1.5%23.5%2.0%-0.4%-1.4M6.7M-94.3K0.8085.4061491,3782,053
2023-05-23$326.03$330.0021.9%6.3%22.1%0.0%22.0%2.9%0.8%-1.6M14.3M-93.7K116.4085.1155821,4202,082
2023-05-24$329.99$330.0023.5%6.7%21.9%2.9%23.6%4.4%0.1%-496.3K2.6M-79.1K3.9782.43763021,4201,599
2023-05-25$339.83$330.0023.4%6.7%22.2%2.7%24.8%1.9%0.4%245.4K-8.9M-78.4K0.6283.1550311,4631,490
2023-05-26$343.38$330.0023.5%6.7%22.3%2.9%24.4%2.8%-0.0%470.8K-12.5M-79.0K0.5383.5447251,4821,481
2023-05-30$343.64$330.0024.2%6.9%22.0%4.1%25.6%-0.4%-0.1%429.9K-13.1M-72.7K0.4487.1945201,4881,484
2023-05-31$343.68$330.0024.6%7.1%20.0%4.9%24.8%3.0%-0.7%463.0K-13.4M-70.3K0.3286.9234111,5131,481