IT Options History — February 2024

In February 2024, IT traded between $439.88 and $470.39. ATM implied volatility averaged 23.9%, placing in the 22.1% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded above realized volatility by 1.6% (HV 20d: 22.3%). Max pain ranged from $410.00 to $440.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 1.20.

Notable Days

2024-02-05: Highest Volume — 1,276 contracts
2024-02-06: Largest IV drop — 53.2% change
2024-02-05: Highest IV Rank — 84.0%
2024-02-05: Largest Expected Move — 9.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$456.56	$439.88	$470.39	$465.69	$464.07
Max Pain	$423.50	$410.00	$440.00	$410.00	$440.00
ATM IV	23.9%	19.6%	48.4%	39.2%	20.4%
Expected Move	6.3%	5.6%	9.0%	8.4%	5.9%
HV 20d	22.3%	16.5%	26.4%	16.7%	25.3%
HV 60d	21.0%	19.3%	22.1%	19.7%	21.9%
IV Rank	22.1%	10.9%	84.0%	60.4%	13.3%
IV Percentile	42.8%	23.8%	98.8%	94.4%	32.9%
Term Structure	1.4%	-3.1%	5.0%	-1.0%	0.7%
VWIV	22.1%	19.9%	32.0%	24.5%	20.8%
Skew 25d	1.4%	0.3%	2.5%	2.4%	0.6%
Skew 10d	3.5%	0.3%	8.7%	4.3%	4.6%
Call IV 25d	21.9%	19.4%	30.8%	28.5%	21.0%
Put IV 25d	23.4%	21.0%	32.7%	30.9%	21.6%
Bid-Ask Spread %	83.15	73.80	87.02	77.46	87.02
Gamma HHI	0.20	0.13	0.34	0.16	0.20
Net GEX	800.7K	412.5K	1.7M	772.7K	644.6K
Net DEX	-21.7M	-30.2M	-11.8M	-26.2M	-24.7M
Net VEX	-65.7K	-73.5K	-60.4K	-73.5K	-63.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.20	0.07	12.00	0.07	1.31
Total Volume	181.9	30	1,276	47	30
Total OI	2,797.55	1,941	3,754	2,183	2,196

Daily Data (20 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
2024-02-01	$465.69	$410.00	39.2%	8.4%	16.7%	60.4%	24.5%	2.4%	-1.0%	772.7K	-26.2M	-73.5K	0.07	77.46	44	3	1,453	730
2024-02-02	$470.39	$410.00	40.2%	8.4%	16.7%	62.8%	31.0%	2.5%	-2.0%	840.0K	-28.4M	-72.6K	0.31	75.83	74	23	1,489	729
2024-02-05	$469.22	$410.00	48.4%	9.0%	16.5%	84.0%	32.0%	1.9%	-3.1%	851.3K	-28.6M	-70.9K	0.16	73.80	1,103	173	1,513	726
2024-02-06	$460.09	$410.00	22.7%	5.7%	17.7%	17.8%	20.4%	1.0%	3.8%	1.1M	-25.3M	-67.0K	0.38	83.96	380	146	2,598	848
2024-02-07	$450.03	$410.00	20.4%	5.8%	19.8%	11.9%	20.5%	1.5%	4.1%	877.9K	-17.7M	-69.5K	0.44	85.95	170	74	2,668	882
2024-02-08	$453.90	$410.00	19.7%	5.6%	19.6%	11.2%	21.0%	1.3%	5.0%	1.1M	-21.3M	-68.5K	0.72	84.26	94	68	2,751	860
2024-02-09	$464.67	$420.00	19.6%	5.6%	21.1%	10.9%	20.3%	1.6%	4.6%	1.7M	-30.2M	-67.6K	0.47	80.58	80	38	2,750	900
2024-02-12	$450.75	$420.00	20.9%	6.0%	22.7%	14.7%	21.4%	1.0%	4.8%	726.1K	-18.2M	-62.4K	0.35	84.34	297	103	2,750	912
2024-02-13	$444.27	$430.00	22.0%	6.3%	23.2%	17.9%	21.2%	2.5%	3.6%	471.3K	-12.7M	-66.2K	0.49	82.97	65	32	2,781	929
2024-02-14	$448.69	$430.00	21.5%	6.2%	23.5%	16.5%	21.4%	1.7%	3.1%	642.2K	-16.6M	-65.6K	0.96	81.69	28	27	2,813	941
2024-02-15	$452.75	$430.00	20.8%	6.0%	23.0%	14.3%	20.4%	0.6%	0.1%	1.4M	-23.6M	-66.9K	0.55	85.30	47	26	2,831	911
2024-02-16	$450.10	$430.00	20.3%	5.8%	22.9%	13.1%	19.9%	1.6%	0.0%	412.5K	-20.0M	-63.7K	0.30	84.87	30	9	2,838	911
2024-02-20	$445.94	$430.00	20.8%	5.9%	22.8%	14.3%	20.9%	1.6%	0.2%	488.2K	-14.6M	-60.4K	0.54	84.09	48	26	1,306	635
2024-02-21	$439.88	$430.00	21.4%	6.1%	23.1%	16.2%	21.5%	1.8%	0.3%	430.1K	-11.8M	-62.0K	0.17	82.12	29	5	1,332	653
2024-02-22	$453.88	$430.00	20.5%	5.9%	26.1%	13.6%	22.0%	0.7%	0.2%	619.4K	-19.0M	-63.1K	1.23	85.47	35	43	1,347	650
2024-02-23	$460.63	$430.00	19.6%	5.6%	26.4%	11.0%	20.1%	1.7%	0.7%	754.1K	-23.0M	-61.5K	1.50	84.24	24	36	1,368	652
2024-02-26	$461.32	$430.00	20.5%	5.9%	26.4%	13.4%	21.2%	0.9%	0.8%	699.3K	-23.4M	-60.8K	0.93	85.59	45	42	1,371	683
2024-02-27	$460.38	$430.00	20.1%	5.8%	26.3%	12.5%	20.7%	1.2%	0.9%	687.2K	-23.2M	-65.1K	1.17	86.79	23	27	1,392	709
2024-02-28	$464.52	$430.00	20.1%	5.8%	26.4%	12.3%	21.7%	0.3%	0.7%	748.4K	-25.5M	-63.3K	12.00	86.60	7	84	1,411	732
2024-02-29	$464.07	$440.00	20.4%	5.9%	25.3%	13.3%	20.8%	0.6%	0.7%	644.6K	-24.7M	-63.9K	1.31	87.02	13	17	1,414	782