IWC Options History — April 2017

In April 2017, IWC traded between $83.05 and $88.29. ATM implied volatility averaged 16.1%, placing in the 35.8% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 1.9% (HV 20d: 14.3%). Max pain ranged from $78.00 to $83.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 3.10.

Notable Days

2017-04-20: Highest Volume — 321 contracts
2017-04-12: Largest IV spike — 18.4% change
2017-04-17: Highest IV Rank — 50.9%
2017-04-17: Largest Expected Move — 5.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$84.91	$83.05	$88.29	$84.65	$86.72
Max Pain	$82.21	$78.00	$83.00	$78.00	$83.00
ATM IV	16.1%	13.4%	18.8%	15.6%	13.4%
Expected Move	4.7%	3.8%	5.4%	4.5%	3.8%
HV 20d	14.3%	11.9%	15.7%	15.1%	14.1%
HV 60d	13.9%	13.5%	14.2%	14.1%	13.8%
IV Rank	35.8%	20.4%	50.9%	32.6%	20.4%
IV Percentile	39.0%	3.2%	81.3%	27.0%	3.2%
Term Structure	0.0%	-0.8%	1.5%	0.7%	0.4%
VWIV	17.8%	15.1%	21.8%	15.9%	15.1%
Skew 25d	2.7%	-5.5%	5.0%	0.3%	0.9%
Skew 10d	7.6%	-2.3%	13.8%	0.7%	4.1%
Call IV 25d	15.3%	13.5%	19.5%	15.1%	13.8%
Put IV 25d	18.0%	14.0%	20.9%	15.3%	14.8%
Bid-Ask Spread %	87.03	63.81	103.90	100.51	91.61
Gamma HHI	0.42	0.39	0.47	0.41	0.45
Net GEX	-73.8K	-85.8K	-61.7K	-68.6K	-69.4K
Net DEX	430.2K	5.1K	681.1K	453.3K	99.2K
Net VEX	-3.4K	-3.7K	-2.8K	-3.5K	-2.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.10	1.13	5.09	5.07	1.13
Total Volume	268.316	145	321	279	187
Total OI	309.737	292	328	295	315

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2017-04-03	$84.65	$78.00	15.6%	4.5%	15.1%	32.6%	15.9%	0.3%	0.7%	-68.6K	453.3K	-3.5K	5.07	100.51	N/A	N/A	46	233	57	238
2017-04-04	$84.11	$78.00	15.9%	4.5%	15.0%	34.3%	17.5%	0.9%	1.5%	-68.5K	578.0K	-3.6K	5.07	100.30	N/A	N/A	46	233	57	238
2017-04-05	$83.19	$78.00	17.0%	4.9%	15.4%	40.8%	16.2%	-5.5%	-0.1%	-76.7K	614.4K	-3.5K	5.09	103.90	N/A	N/A	46	234	57	238
2017-04-06	$83.58	$83.00	14.9%	4.8%	15.4%	29.2%	16.2%	4.0%	0.2%	-76.4K	681.1K	-3.4K	4.25	83.15	N/A	N/A	55	234	57	239
2017-04-07	$84.05	$83.00	16.3%	4.8%	15.4%	36.6%	16.9%	3.1%	0.1%	-81.0K	623.8K	-3.4K	4.25	82.00	N/A	N/A	55	234	56	239
2017-04-10	$84.27	$83.00	16.5%	4.9%	15.4%	38.0%	17.6%	3.9%	-0.3%	-72.4K	572.9K	-3.3K	3.00	82.88	N/A	N/A	78	234	56	239
2017-04-11	$84.76	$83.00	14.6%	4.9%	15.4%	27.2%	17.2%	4.8%	-0.2%	-70.3K	437.4K	-3.7K	3.00	87.74	N/A	N/A	78	234	79	239
2017-04-12	$83.76	$83.00	17.3%	5.0%	15.1%	42.4%	19.2%	2.3%	0.1%	-70.6K	454.0K	-3.7K	3.04	86.74	N/A	N/A	78	237	79	239
2017-04-13	$83.05	$83.00	18.5%	5.3%	15.3%	49.5%	19.8%	3.8%	-0.1%	-77.2K	619.6K	-3.7K	3.06	82.10	N/A	N/A	78	239	79	242
2017-04-17	$83.10	$83.00	18.8%	5.4%	15.2%	50.9%	20.7%	5.0%	-0.5%	-79.7K	606.9K	-3.6K	3.06	92.24	N/A	N/A	78	239	79	244
2017-04-18	$83.92	$83.00	17.9%	5.1%	15.7%	46.1%	19.4%	4.2%	-0.6%	-85.8K	550.0K	-3.6K	3.06	88.82	N/A	N/A	78	239	79	244
2017-04-19	$84.16	$83.00	17.8%	5.1%	12.2%	45.5%	19.6%	5.0%	-0.5%	-78.3K	486.2K	-3.5K	3.06	93.00	N/A	N/A	78	239	79	244
2017-04-20	$85.19	$83.00	16.7%	4.8%	12.2%	39.0%	21.8%	4.7%	-0.3%	-67.9K	378.0K	-3.4K	3.12	88.34	N/A	N/A	78	243	79	244
2017-04-21	$85.23	$83.00	16.0%	4.6%	11.9%	35.2%	18.1%	2.4%	0.5%	-85.6K	381.5K	-3.4K	3.12	94.36	N/A	N/A	78	243	79	249
2017-04-24	$86.28	$83.00	15.1%	4.3%	12.5%	29.9%	18.2%	3.4%	0.5%	-78.4K	411.0K	-3.2K	2.15	76.12	N/A	N/A	46	99	48	244
2017-04-25	$87.26	$83.00	14.7%	4.2%	12.9%	27.6%	17.2%	2.1%	-0.0%	-70.8K	212.5K	-3.0K	1.46	63.81	N/A	N/A	68	99	57	244
2017-04-26	$88.29	$83.00	15.0%	4.3%	13.3%	29.7%	15.7%	3.5%	-0.1%	-62.8K	9.2K	-2.8K	1.46	71.09	N/A	N/A	68	99	70	244
2017-04-27	$87.69	$83.00	14.2%	4.1%	13.6%	25.2%	15.7%	2.1%	-0.8%	-61.7K	5.1K	-2.8K	1.46	84.89	N/A	N/A	68	99	71	244
2017-04-28	$86.72	$83.00	13.4%	3.8%	14.1%	20.4%	15.1%	0.9%	0.4%	-69.4K	99.2K	-2.9K	1.13	91.61	N/A	N/A	88	99	71	244