IWC Options History — December 2018

In December 2018, IWC traded between $78.01 and $94.73. ATM implied volatility averaged 28.6%, placing in the 69.2% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded above realized volatility by 5.2% (HV 20d: 23.3%). Max pain ranged from $75.00 to $87.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.16.

Notable Days

2018-12-21: Highest Volume — 51 contracts
2018-12-04: Largest IV spike — 21.4% change
2018-12-27: Highest IV Rank — 93.6%
2018-12-27: Largest Expected Move — 10.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$85.66	$78.01	$94.73	$94.73	$82.24
Max Pain	$82.50	$75.00	$87.00	$86.00	$75.00
ATM IV	28.6%	20.9%	35.1%	20.9%	31.0%
Expected Move	8.0%	6.0%	10.1%	6.0%	8.9%
HV 20d	23.3%	17.9%	27.6%	17.9%	27.6%
HV 60d	20.8%	18.1%	22.9%	18.1%	22.8%
IV Rank	69.2%	40.6%	93.6%	40.6%	78.4%
IV Percentile	95.6%	84.9%	99.2%	84.9%	96.4%
Term Structure	-1.9%	-4.1%	0.5%	-0.7%	-4.1%
VWIV	27.8%	20.6%	36.0%	24.8%	20.6%
Skew 25d	5.5%	-1.0%	11.1%	1.7%	4.7%
Skew 10d	11.5%	-6.8%	21.1%	4.7%	18.5%
Call IV 25d	25.4%	20.5%	30.3%	20.5%	29.4%
Put IV 25d	30.9%	22.2%	41.2%	22.2%	34.1%
Bid-Ask Spread %	81.48	57.85	98.59	93.74	88.50
Gamma HHI	0.24	0.11	0.46	0.11	0.23
Net GEX	16.7K	6.6K	29.4K	29.4K	28.1K
Net DEX	-90.4K	-510.9K	257.8K	-510.9K	-295.7K
Net VEX	-1.4K	-1.7K	-1.1K	-1.6K	-1.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.16	0.00	1.33	0.00	0.00
Total Volume	17.2	0	51	0	1
Total OI	236.45	93	298	273	134

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-12-03	$94.73	$86.00	20.9%	6.0%	17.9%	40.6%	0.0%	1.7%	-0.7%	29.4K	-510.9K	-1.6K	0.00	93.74	N/A	N/A	0	0	206	67
2018-12-04	$90.76	$86.00	25.4%	7.3%	23.2%	57.3%	0.0%	-1.0%	-2.8%	19.5K	-324.9K	-1.7K	0.00	98.59	N/A	N/A	3	0	206	67
2018-12-05	$90.81	$86.00	26.2%	7.5%	23.2%	60.5%	0.0%	-0.4%	-3.1%	19.1K	-325.8K	-1.6K	0.00	98.55	N/A	N/A	3	0	206	67
2018-12-06	$90.61	$0.00	28.0%	6.9%	22.2%	67.2%	0.0%	7.1%	0.0%	16.8K	-186.8K	-1.6K	0.00	70.16	N/A	N/A	0	4	203	67
2018-12-07	$90.25	$0.00	26.3%	7.1%	22.1%	60.6%	0.0%	5.9%	-1.3%	15.5K	-232.5K	-1.7K	1.33	73.83	N/A	N/A	3	4	206	71
2018-12-10	$89.11	$0.00	29.8%	7.6%	21.5%	74.0%	0.0%	5.5%	-1.8%	14.0K	-92.2K	-1.6K	0.00	71.84	N/A	N/A	2	0	203	71
2018-12-11	$88.92	$0.00	28.1%	7.2%	21.0%	67.6%	0.0%	5.8%	-2.1%	13.1K	-106.0K	-1.6K	0.00	57.85	N/A	N/A	2	0	204	71
2018-12-12	$89.79	$0.00	23.9%	6.9%	21.3%	52.0%	0.0%	6.7%	-0.8%	7.3K	-177.1K	-1.5K	0.00	63.67	N/A	N/A	12	0	204	71
2018-12-13	$88.19	$0.00	24.9%	7.1%	22.0%	55.7%	24.8%	5.4%	-2.0%	9.6K	-55.4K	-1.4K	0.15	61.31	N/A	N/A	13	2	205	71
2018-12-14	$86.66	$87.00	25.3%	7.3%	22.5%	57.0%	23.4%	6.2%	0.5%	15.5K	50.9K	-1.4K	0.13	68.09	N/A	N/A	15	2	206	73
2018-12-17	$84.37	$87.00	28.6%	8.2%	23.6%	69.5%	26.6%	6.5%	-1.9%	23.7K	213.4K	-1.2K	0.07	70.67	N/A	N/A	15	1	207	73
2018-12-18	$84.19	$87.00	28.7%	8.2%	23.3%	69.7%	30.7%	6.8%	-1.8%	27.6K	150.7K	-1.4K	0.20	68.72	N/A	N/A	15	3	222	65
2018-12-19	$82.15	$87.00	28.4%	8.1%	23.9%	68.7%	22.4%	1.1%	-1.0%	18.5K	256.0K	-1.3K	0.18	98.17	N/A	N/A	17	3	222	66
2018-12-20	$80.95	$87.00	30.6%	8.8%	23.4%	77.0%	28.2%	6.0%	-1.4%	6.6K	257.8K	-1.1K	0.08	83.19	N/A	N/A	37	3	222	56
2018-12-21	$79.04	$87.00	31.0%	8.9%	23.9%	78.4%	32.4%	7.3%	-2.8%	9.2K	180.5K	-1.2K	0.21	90.33	N/A	N/A	42	9	242	56
2018-12-24	$78.01	$75.00	34.0%	9.8%	23.4%	89.7%	36.0%	11.1%	-2.4%	10.5K	-106.5K	-1.1K	0.16	94.71	N/A	N/A	43	7	80	13
2018-12-26	$80.55	$75.00	32.8%	9.4%	27.5%	85.0%	30.2%	6.8%	-3.4%	11.2K	-125.3K	-1.2K	0.18	90.01	N/A	N/A	11	2	80	13
2018-12-27	$80.11	$75.00	35.1%	10.1%	25.4%	93.6%	29.6%	9.3%	-3.4%	14.1K	-137.6K	-1.3K	0.06	93.42	N/A	N/A	32	2	91	15
2018-12-28	$81.80	$75.00	32.0%	9.2%	27.3%	82.3%	29.2%	7.8%	-1.2%	24.6K	-240.4K	-1.5K	0.06	94.30	N/A	N/A	34	2	112	15
2018-12-31	$82.24	$75.00	31.0%	8.9%	27.6%	78.4%	20.6%	4.7%	-4.1%	28.1K	-295.7K	-1.6K	0.00	88.50	N/A	N/A	1	0	124	10