IWC Options History — May 2020

In May 2020, IWC traded between $72.99 and $85.21. ATM implied volatility averaged 43.5%, placing in the 44.2% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded below realized volatility by 4.1% (HV 20d: 47.6%). Max pain ranged from $75.00 to $90.00. Net GEX was positive for 1 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 1.21.

Notable Days

  • 2020-05-04: Highest Volume — 15 contracts
  • 2020-05-11: Largest IV spike — 38.1% change
  • 2020-05-11: Highest IV Rank — 56.8%
  • 2020-05-01: Largest Expected Move — 13.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$78.17$72.99$85.21$74.27$82.40
Max Pain$86.25$75.00$90.00$75.00$85.00
ATM IV43.5%35.0%52.5%48.0%40.2%
Expected Move11.7%10.0%13.8%13.8%11.5%
HV 20d47.6%42.5%55.5%55.5%42.5%
HV 60d68.6%67.2%69.9%67.2%69.4%
IV Rank44.2%32.5%56.8%50.6%39.7%
IV Percentile83.3%76.2%90.5%88.1%80.6%
Term Structure-2.5%-7.4%4.0%-5.4%-5.3%
VWIV42.0%28.6%57.7%42.2%40.6%
Skew 25d12.8%2.9%17.6%16.8%12.1%
Skew 10d20.6%4.8%32.8%12.1%4.8%
Call IV 25d34.3%23.6%42.5%42.5%33.9%
Put IV 25d47.1%37.5%59.3%59.3%46.0%
Bid-Ask Spread %79.0371.0787.0273.3983.93
Gamma HHI0.150.130.180.130.18
Net GEX-6.1K-15.5K9.4K-8.2K-3.9K
Net DEX316.5K65.2K520.1K446.3K207.1K
Net VEX-2.4K-2.7K-2.2K-2.4K-2.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.210.005.003.500.00
Total Volume4.801591
Total OI568.4546582568566

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-05-01$74.27$75.0048.0%13.8%55.5%50.6%42.2%16.8%-5.4%-8.2K446.3K-2.4K3.5073.39N/AN/A27390178
2020-05-04$75.04$90.0050.0%12.2%53.4%53.4%55.0%15.4%-4.0%-7.0K403.1K-2.4K0.0072.75N/AN/A015391176
2020-05-05$75.24$90.0048.9%11.4%48.4%51.8%47.8%10.0%0.3%-8.5K403.0K-2.3K0.0082.15N/AN/A03391191
2020-05-06$74.81$90.0048.1%11.6%48.6%50.7%0.0%14.7%0.0%-8.3K423.2K-2.3K0.0075.31N/AN/A10391191
2020-05-07$75.81$90.0048.7%11.7%47.3%51.5%0.0%12.3%-3.1%-7.5K385.3K-2.3K0.0078.39N/AN/A00391191
2020-05-08$78.60$90.0038.0%10.2%45.5%36.6%28.6%12.1%-0.9%-3.4K265.1K-2.6K0.5080.32N/AN/A105391191
2020-05-11$78.93$90.0052.5%11.1%44.9%56.8%28.8%11.8%-3.7%-2.4K243.2K-2.7K0.5076.62N/AN/A21381195
2020-05-12$76.77$90.0046.9%11.4%46.1%49.1%41.9%12.7%-2.2%-4.7K320.1K-2.4K0.0081.09N/AN/A40382194
2020-05-13$73.30$85.0045.8%13.1%47.2%47.4%57.7%15.6%-7.4%-10.7K497.2K-2.2K0.0076.12N/AN/A03384194
2020-05-14$72.99$85.0044.6%12.8%46.7%45.9%0.0%14.0%-3.7%-10.9K520.1K-2.2K0.0081.54N/AN/A010384194
2020-05-15$74.82$85.0043.0%12.3%44.0%43.6%49.9%16.8%0.3%-15.5K453.0K-2.2K0.0083.00N/AN/A20384194
2020-05-18$79.41$85.0040.9%11.7%48.2%40.6%38.9%11.0%-0.3%-8.6K312.4K-2.3K0.0073.32N/AN/A100368178
2020-05-19$78.47$85.0042.3%12.1%48.2%42.7%0.0%11.1%-1.7%-8.0K322.8K-2.3K0.0079.07N/AN/A00375178
2020-05-20$80.08$85.0041.6%11.9%48.4%41.6%37.7%13.7%-4.2%-7.1K278.4K-2.3K0.0073.21N/AN/A20375178
2020-05-21$80.54$85.0039.2%11.2%48.3%38.3%31.5%12.3%-3.1%-5.6K255.0K-2.3K3.0071.07N/AN/A13377178
2020-05-22$80.58$85.0039.7%11.4%48.3%39.0%0.0%9.2%-3.8%-4.6K250.8K-2.4K0.0085.33N/AN/A00378181
2020-05-26$82.80$85.0037.2%10.7%47.0%35.5%34.3%17.6%-1.5%-2.7K169.7K-2.4K5.0080.42N/AN/A15378181
2020-05-27$85.21$85.0035.0%10.0%47.7%32.5%53.7%13.0%4.0%-2.8K109.4K-2.4K0.0087.02N/AN/A05379186
2020-05-28$83.27$85.0038.8%11.1%45.2%37.7%0.0%2.9%-4.3%9.4K65.2K-2.6K2.0086.52N/AN/A12379184
2020-05-29$82.40$85.0040.2%11.5%42.5%39.7%40.6%12.1%-5.3%-3.9K207.1K-2.4K0.0083.93N/AN/A10380186