IWC Options History — January 2021

In January 2021, IWC traded between $118.20 and $137.21. ATM implied volatility averaged 33.3%, placing in the 28.7% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded above realized volatility by 9.6% (HV 20d: 23.7%). Max pain ranged from $95.00 to $127.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 3.68.

Notable Days

  • 2021-01-26: Highest Volume — 2,154 contracts
  • 2021-01-08: Largest IV spike — 41.8% change
  • 2021-01-27: Highest IV Rank — 50.9%
  • 2021-01-27: Largest Expected Move — 14.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$130.62$118.20$137.21$118.20$135.31
Max Pain$118.68$95.00$127.00$95.00$127.00
ATM IV33.3%21.5%49.4%37.5%46.2%
Expected Move9.3%7.6%14.2%9.0%13.2%
HV 20d23.7%17.9%26.4%19.3%23.4%
HV 60d23.3%21.9%24.5%21.9%22.0%
IV Rank28.7%12.6%50.9%35.2%46.3%
IV Percentile47.8%12.3%86.5%66.7%82.5%
Term Structure-0.5%-6.4%1.4%-1.7%1.4%
VWIV31.1%23.1%46.1%26.5%46.1%
Skew 25d9.5%7.1%14.2%9.9%14.2%
Skew 10d18.2%12.8%27.8%17.8%24.4%
Call IV 25d28.0%23.0%40.9%26.9%40.9%
Put IV 25d37.5%31.0%55.2%36.8%55.2%
Bid-Ask Spread %45.1431.4369.6931.7653.70
Gamma HHI0.260.120.440.120.29
Net GEX222.0K1.4K707.7K1.4K471.2K
Net DEX-2.0M-5.6M199.2K-345.3K199.2K
Net VEX-19.8K-75.1K-5.4K-5.5K-75.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.680.0044.670.751.30
Total Volume285.05372,1547310
Total OI1,368.6845634,4305654,430

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-01-04$118.20$95.0037.5%9.0%19.3%35.2%0.0%9.9%-1.7%1.4K-345.3K-5.5K0.7531.76N/AN/A43239326
2021-01-05$120.52$95.0034.3%8.1%17.9%30.7%0.0%8.1%1.4%15.8K-598.6K-5.4K7.8036.57N/AN/A539237326
2021-01-06$124.36$95.0032.3%8.4%20.6%27.8%26.5%7.1%-0.5%56.4K-1.0M-5.8K0.2036.92N/AN/A12324237359
2021-01-07$127.57$116.0021.5%7.6%22.0%12.6%23.1%8.0%0.9%118.4K-1.6M-6.2K0.1239.36N/AN/A10813277365
2021-01-08$126.31$116.0030.5%8.2%22.2%25.3%28.9%8.9%0.7%120.2K-1.6M-7.0K6.3633.85N/AN/A1170336361
2021-01-11$126.32$116.0037.3%8.8%22.2%34.8%26.4%9.4%-0.5%129.9K-1.6M-7.3K0.0033.00N/AN/A630340338
2021-01-12$129.56$116.0028.2%8.4%23.0%22.0%28.1%9.3%0.2%214.7K-2.4M-8.3K0.0131.43N/AN/A1471401338
2021-01-13$129.01$120.0027.0%7.7%23.2%20.3%33.4%8.0%1.0%242.4K-2.4M-7.9K0.1735.84N/AN/A366435339
2021-01-14$132.96$120.0029.0%8.3%24.5%23.1%26.5%8.5%-0.8%209.7K-3.2M-8.1K0.1640.18N/AN/A16126435345
2021-01-15$130.62$127.0028.6%8.2%25.9%22.6%28.0%8.7%1.4%424.2K-2.8M-10.0K0.3936.46N/AN/A4116550381
2021-01-19$133.26$127.0029.0%8.3%26.4%23.2%27.8%8.5%-1.2%212.7K-2.6M-10.3K0.0555.06N/AN/A1427519329
2021-01-20$133.99$127.0027.2%7.8%26.3%19.5%27.1%7.4%1.2%214.0K-2.7M-10.2K0.0547.68N/AN/A1296505336
2021-01-21$133.29$125.0029.3%8.4%26.3%22.5%27.5%8.2%-0.7%222.4K-2.8M-12.3K44.6753.46N/AN/A9402613332
2021-01-22$134.88$125.0028.1%8.1%26.2%20.4%30.7%9.3%0.7%100.6K-1.1M-22.4K0.3148.97N/AN/A134620734
2021-01-25$135.98$127.0033.8%9.7%26.1%28.5%32.9%10.5%-0.4%96.5K-1.5M-22.6K0.7149.82N/AN/A148105616739
2021-01-26$137.21$127.0037.1%10.6%25.7%33.2%31.5%9.7%-1.7%88.5K-1.5M-28.0K0.1655.20N/AN/A1,862292722843
2021-01-27$136.98$127.0049.4%14.2%25.6%50.9%45.9%12.8%-4.0%707.7K-5.6M-58.3K2.4568.64N/AN/A1243042,5621,141
2021-01-28$135.50$127.0046.2%13.2%23.5%46.3%38.4%13.9%-6.4%571.0K-2.5M-65.3K4.3069.69N/AN/A1255372,5631,436
2021-01-29$135.31$127.0046.2%13.2%23.4%46.3%46.1%14.2%1.4%471.2K199.2K-75.1K1.3053.70N/AN/A1351752,5271,903