IT Options History — March 2024

In March 2024, IT traded between $457.45 and $483.78. ATM implied volatility averaged 21.4%, placing in the 16.6% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded below realized volatility by 0.9% (HV 20d: 22.3%). Max pain ranged from $440.00 to $470.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 1.10.

Notable Days

2024-03-13: Highest Volume — 216 contracts
2024-03-11: Largest IV spike — 20.0% change
2024-03-12: Highest IV Rank — 29.8%
2024-03-06: Largest Expected Move — 6.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$472.99	$457.45	$483.78	$470.49	$478.50
Max Pain	$456.50	$440.00	$470.00	$440.00	$470.00
ATM IV	21.4%	18.6%	26.2%	20.2%	18.6%
Expected Move	6.0%	5.3%	6.4%	5.8%	5.3%
HV 20d	22.3%	18.5%	26.6%	25.0%	19.6%
HV 60d	22.1%	20.6%	22.9%	22.1%	20.6%
IV Rank	16.6%	8.7%	29.8%	12.7%	8.7%
IV Percentile	40.9%	14.7%	66.3%	30.2%	14.7%
Term Structure	6.7%	0.6%	10.6%	0.6%	10.6%
VWIV	20.9%	18.4%	22.7%	20.7%	18.4%
Skew 25d	1.1%	0.4%	1.8%	0.7%	0.8%
Skew 10d	2.5%	-2.4%	8.6%	-2.4%	0.8%
Call IV 25d	20.9%	18.8%	22.0%	20.6%	18.8%
Put IV 25d	22.0%	19.5%	23.9%	21.3%	19.5%
Bid-Ask Spread %	85.28	81.05	90.33	88.46	90.33
Gamma HHI	0.22	0.14	0.32	0.22	0.20
Net GEX	630.1K	-226.8K	1.3M	732.1K	608.3K
Net DEX	-22.8M	-35.8M	-14.6M	-28.8M	-16.6M
Net VEX	-57.1K	-61.2K	-53.5K	-61.0K	-56.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.10	0.04	6.14	6.14	1.00
Total Volume	51.35	12	216	50	14
Total OI	1,769.35	1,053	2,403	2,217	1,185

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
2024-03-01	$470.49	$440.00	20.2%	5.8%	25.0%	12.7%	20.7%	0.7%	0.6%	732.1K	-28.8M	-61.0K	6.14	88.46	7	43	1,421	796
2024-03-04	$468.39	$450.00	21.4%	6.0%	24.8%	16.1%	21.0%	1.2%	4.6%	671.1K	-27.2M	-61.0K	2.14	82.69	14	30	1,424	819
2024-03-05	$457.45	$450.00	22.9%	6.3%	26.1%	20.4%	21.4%	1.1%	4.9%	410.2K	-19.4M	-61.2K	0.96	84.89	25	24	1,427	832
2024-03-06	$468.37	$450.00	22.6%	6.4%	26.6%	19.4%	21.9%	1.8%	4.1%	677.9K	-26.6M	-60.7K	1.13	82.20	16	18	1,440	821
2024-03-07	$470.79	$450.00	22.1%	6.2%	25.2%	18.1%	22.1%	1.3%	5.2%	782.4K	-29.5M	-57.2K	0.90	81.05	21	19	1,446	823
2024-03-08	$464.54	$450.00	21.4%	6.2%	25.7%	16.2%	21.3%	1.2%	4.2%	757.6K	-25.0M	-58.5K	0.25	81.52	16	4	1,453	832
2024-03-11	$466.06	$450.00	25.7%	6.1%	24.3%	28.4%	22.7%	1.3%	3.9%	843.1K	-26.0M	-54.2K	0.16	82.62	56	9	1,459	838
2024-03-12	$475.39	$450.00	26.2%	6.1%	22.4%	29.8%	21.6%	1.6%	5.4%	1.0M	-34.2M	-53.5K	0.52	83.30	63	33	1,493	846
2024-03-13	$475.98	$460.00	21.4%	6.1%	21.5%	16.1%	21.4%	1.4%	5.4%	1.3M	-35.8M	-55.5K	0.04	83.32	208	8	1,538	865
2024-03-14	$469.98	$460.00	21.3%	6.1%	22.0%	16.9%	21.5%	0.9%	8.7%	526.6K	-28.6M	-58.6K	0.11	81.55	36	4	1,523	868
2024-03-15	$468.76	$460.00	21.3%	6.1%	22.0%	17.0%	21.4%	1.6%	7.4%	-226.8K	-26.2M	-57.0K	0.32	83.30	63	20	1,514	869
2024-03-18	$476.15	$460.00	21.2%	6.1%	22.3%	16.7%	21.6%	1.0%	7.4%	533.0K	-16.0M	-55.7K	2.07	83.99	14	29	713	340
2024-03-19	$475.48	$460.00	20.3%	5.8%	21.9%	14.0%	20.9%	1.1%	7.8%	509.1K	-15.6M	-54.5K	1.75	86.53	8	14	712	358
2024-03-20	$478.43	$460.00	19.7%	5.6%	21.0%	12.1%	20.0%	0.8%	8.1%	545.5K	-16.6M	-53.8K	0.18	86.65	33	6	711	362
2024-03-21	$483.78	$460.00	20.3%	5.8%	18.6%	13.8%	20.1%	0.4%	8.5%	644.6K	-18.3M	-55.6K	0.43	86.74	14	6	736	359
2024-03-22	$479.79	$460.00	19.9%	5.7%	18.5%	12.9%	20.0%	0.5%	9.0%	621.8K	-17.8M	-57.2K	0.94	89.20	32	30	748	362
2024-03-25	$473.50	$460.00	21.0%	6.0%	19.3%	16.2%	20.3%	1.7%	8.9%	489.7K	-14.6M	-57.8K	2.00	88.65	4	8	752	389
2024-03-26	$476.35	$460.00	20.2%	5.8%	19.3%	13.7%	20.4%	1.1%	9.7%	549.0K	-15.9M	-56.1K	0.78	88.54	32	25	752	391
2024-03-27	$481.68	$470.00	20.0%	5.7%	19.4%	12.9%	20.2%	0.8%	10.0%	590.0K	-17.1M	-55.6K	0.24	90.02	17	4	764	406
2024-03-28	$478.50	$470.00	18.6%	5.3%	19.6%	8.7%	18.4%	0.8%	10.6%	608.3K	-16.6M	-56.9K	1.00	90.33	7	7	778	407