IWC Options History — February 2020

In February 2020, IWC traded between $86.91 and $99.88. ATM implied volatility averaged 19.9%, placing in the 38.4% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 2.7% (HV 20d: 17.2%). Max pain ranged from $91.00 to $97.00. Net GEX was positive for 15 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 36.51.

Notable Days

  • 2020-02-05: Highest Volume — 501 contracts
  • 2020-02-25: Largest IV spike — 29.5% change
  • 2020-02-26: Highest IV Rank — 100.0%
  • 2020-02-28: Largest Expected Move — 12.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$96.51$86.91$99.88$95.74$86.91
Max Pain$91.95$91.00$97.00$97.00$91.00
ATM IV19.9%14.0%44.4%17.9%44.4%
Expected Move5.7%4.0%12.7%5.1%12.7%
HV 20d17.2%14.0%24.8%14.0%24.8%
HV 60d13.2%11.7%17.3%11.7%17.3%
IV Rank38.4%12.3%100.0%33.2%100.0%
IV Percentile47.3%9.1%100.0%61.9%100.0%
Term Structure-1.1%-15.0%1.7%0.4%-15.0%
VWIV23.4%12.6%51.6%16.0%51.6%
Skew 25d6.7%4.5%15.7%6.2%6.2%
Skew 10d12.9%7.9%24.9%11.0%7.9%
Call IV 25d17.0%12.5%41.1%15.9%41.1%
Put IV 25d23.7%17.2%47.2%22.1%47.2%
Bid-Ask Spread %68.8051.0297.2475.1797.24
Gamma HHI0.330.150.520.270.44
Net GEX189.5K-103.9K479.0K221.3K-103.9K
Net DEX-1.3M-2.5M1.6M-1.6M1.6M
Net VEX-10.4K-11.9K-8.4K-8.4K-11.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio36.510.00500.002.000.00
Total Volume55.10505013100
Total OI1,107.2636241,2266241,197

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-02-03$95.74$97.0017.9%5.1%14.0%33.2%0.0%6.2%0.4%221.3K-1.6M-8.4K2.0075.17N/AN/A1256064
2020-02-04$96.79$97.0015.5%4.5%14.6%20.6%0.0%4.5%1.4%252.0K-1.9M-8.7K0.0084.89N/AN/A010056166
2020-02-05$98.28$97.0014.9%4.3%15.7%17.5%0.0%4.7%0.9%286.3K-2.2M-10.5K500.0083.74N/AN/A1500561166
2020-02-06$98.24$91.0015.0%4.6%15.6%17.9%16.0%5.5%0.4%238.7K-2.0M-11.9K0.0058.26N/AN/A1350560666
2020-02-07$96.84$91.0016.0%4.8%16.4%22.9%0.0%5.6%0.1%147.8K-1.2M-11.4K0.2152.63N/AN/A245518666
2020-02-10$97.49$91.0016.9%4.8%16.5%27.7%0.0%5.5%-0.1%176.7K-1.4M-11.0K5.0051.02N/AN/A15522671
2020-02-11$98.23$91.0015.5%4.6%16.7%20.5%14.0%5.5%0.4%229.5K-1.8M-10.8K0.3359.26N/AN/A62523676
2020-02-12$98.97$91.0014.8%4.2%16.8%16.7%0.0%5.0%0.4%291.0K-2.1M-10.2K0.0064.75N/AN/A01527678
2020-02-13$98.68$91.0014.8%4.2%16.8%16.6%0.0%4.6%0.5%284.4K-2.0M-10.0K0.1369.37N/AN/A81527679
2020-02-14$98.57$91.0014.0%4.0%15.0%12.3%0.0%5.4%1.7%279.7K-1.9M-9.7K0.0065.01N/AN/A600519679
2020-02-18$98.53$91.0014.9%4.3%15.0%17.5%0.0%5.7%1.7%276.9K-1.8M-9.9K0.0069.28N/AN/A00533678
2020-02-19$99.66$91.0014.3%4.1%15.5%14.0%0.0%4.6%1.4%464.0K-2.4M-9.5K0.0067.41N/AN/A10533678
2020-02-20$99.88$91.0015.2%4.4%15.5%18.9%18.6%5.6%1.1%479.0K-2.5M-9.6K3.0067.47N/AN/A412533678
2020-02-21$99.16$91.0018.0%5.2%15.7%33.8%0.0%7.1%-0.2%166.2K-1.9M-9.9K0.0069.73N/AN/A20531690
2020-02-24$96.44$91.0021.6%6.2%17.5%52.9%14.9%11.0%-2.1%60.4K-823.1K-10.9K0.0076.85N/AN/A70452676
2020-02-25$93.25$91.0028.0%8.0%21.0%86.8%21.2%15.7%-4.9%-20.7K128.0K-11.2K0.4560.13N/AN/A115459676
2020-02-26$92.08$91.0030.9%8.9%21.2%100.0%12.6%10.0%-4.8%-49.5K377.6K-10.6K0.0060.15N/AN/A490466677
2020-02-27$89.93$91.0035.2%10.1%22.4%100.0%38.5%9.8%-4.1%-78.6K832.0K-11.2K0.0074.93N/AN/A04515677
2020-02-28$86.91$91.0044.4%12.7%24.8%100.0%51.6%6.2%-15.0%-103.9K1.6M-11.3K0.0097.24N/AN/A0100521676