IWC Options History — March 2021

In March 2021, IWC traded between $140.78 and $158.49. ATM implied volatility averaged 39.6%, placing in the 32.1% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded above realized volatility by 3.3% (HV 20d: 36.4%). Max pain ranged from $145.00 to $150.00. Net GEX was positive for 16 of 23 trading days. Term structure was in contango for 2 of 23 days. Put/call ratio averaged 2.20.

Notable Days

  • 2021-03-26: Highest Volume — 900 contracts
  • 2021-03-23: Largest IV spike — 21.6% change
  • 2021-03-29: Highest IV Rank — 48.1%
  • 2021-03-03: Largest Expected Move — 13.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$149.34$140.78$158.49$150.50$147.38
Max Pain$149.09$145.00$150.00$145.00$150.00
ATM IV39.6%32.5%48.6%41.9%35.9%
Expected Move11.1%9.3%13.7%12.0%10.3%
HV 20d36.4%31.4%40.1%31.4%39.7%
HV 60d28.6%24.7%32.1%24.7%32.1%
IV Rank32.1%19.4%48.1%32.8%31.0%
IV Percentile64.4%42.9%84.9%72.6%53.6%
Term Structure-3.0%-10.1%0.6%-1.7%-2.8%
VWIV39.7%33.2%48.3%40.4%34.1%
Skew 25d10.7%8.4%13.5%13.5%9.5%
Skew 10d18.7%13.1%23.0%21.0%13.8%
Call IV 25d34.1%29.0%40.3%37.0%32.3%
Put IV 25d44.9%38.0%52.4%50.5%41.8%
Bid-Ask Spread %45.5628.1087.1086.3852.44
Gamma HHI0.240.100.790.240.10
Net GEX1.0M-268.0K7.3M481.0K-99.1K
Net DEX-6.5M-25.2M7.0M-5.4M3.4M
Net VEX-107.2K-132.6K-83.5K-87.4K-107.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.200.0310.540.360.42
Total Volume354.39174900465228
Total OI6,113.4784,6587,3225,1655,615

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-03-01$150.50$145.0041.9%12.0%31.4%32.8%40.4%13.5%-1.7%481.0K-5.4M-87.4K0.3686.38N/AN/A3421232,2062,959
2021-03-02$148.86$145.0042.2%12.1%31.4%33.4%48.3%13.4%-1.4%623.5K-4.8M-90.0K0.0386.80N/AN/A537162,5343,024
2021-03-03$147.01$145.0047.9%13.7%32.0%42.5%46.3%12.0%-6.8%601.5K-4.4M-102.8K0.0587.10N/AN/A512272,9743,038
2021-03-04$140.90$150.0048.6%12.4%35.6%43.6%47.2%10.8%-2.7%316.2K1.2M-106.2K7.2934.32N/AN/A554013,4673,033
2021-03-05$142.44$150.0043.9%11.3%35.0%36.1%38.1%11.0%-0.1%411.2K26.4K-100.7K1.4232.16N/AN/A931323,4773,051
2021-03-08$145.38$149.0048.0%11.7%35.1%42.7%42.6%12.7%-3.0%635.1K-2.8M-100.5K0.2028.73N/AN/A342673,4183,075
2021-03-09$151.02$149.0043.6%11.1%34.9%35.7%37.8%12.2%-2.1%1.2M-10.7M-115.9K0.3028.10N/AN/A3511063,6923,112
2021-03-10$153.74$149.0037.0%10.6%35.2%24.9%38.6%11.4%-4.1%1.5M-16.2M-122.7K0.7629.27N/AN/A1961483,9773,072
2021-03-11$157.19$149.0037.4%10.7%35.5%25.5%39.0%9.5%-2.3%1.7M-23.1M-132.6K5.5139.54N/AN/A955234,1773,099
2021-03-12$158.49$149.0035.9%10.3%35.5%23.2%37.9%10.6%-4.6%1.8M-25.2M-130.0K0.6831.10N/AN/A95654,1973,036
2021-03-15$158.03$149.0034.6%9.9%35.6%21.0%37.9%10.2%-1.0%1.9M-25.1M-124.1K0.3435.44N/AN/A197664,2243,098
2021-03-16$155.35$150.0034.0%9.7%36.2%20.0%37.2%9.1%-0.6%1.9M-17.9M-121.7K0.2136.41N/AN/A437924,0673,135
2021-03-17$156.71$150.0033.6%9.6%36.1%19.4%37.2%8.4%0.3%1.7M-18.2M-116.8K7.6736.18N/AN/A211613,8283,173
2021-03-18$152.24$150.0037.1%10.6%36.8%25.1%37.1%9.7%-1.5%1.7M-8.5M-115.4K0.7838.06N/AN/A1681313,8233,304
2021-03-19$154.57$150.0034.1%9.8%36.4%23.9%34.5%8.7%-1.5%7.3M-10.6M-113.7K0.1934.82N/AN/A7061353,7873,342
2021-03-22$153.17$150.0032.5%9.3%36.4%21.7%33.2%9.0%0.6%241.1K-3.9M-105.6K0.1138.94N/AN/A108122,5862,162
2021-03-23$145.95$150.0039.5%11.3%39.5%35.6%40.0%9.6%-4.5%-3.7K1.4M-92.3K0.6842.20N/AN/A66452,4912,167
2021-03-24$140.78$150.0041.8%12.0%40.1%41.6%38.4%10.2%-7.1%-155.9K4.7M-83.5K1.3248.41N/AN/A851122,4862,177
2021-03-25$144.64$150.0040.1%11.5%40.1%38.1%43.1%11.6%-5.8%-75.6K2.3M-89.3K3.3546.11N/AN/A17572,4642,211
2021-03-26$144.79$150.0039.5%11.3%40.1%36.7%35.9%9.0%-4.9%-66.1K2.2M-91.1K10.5444.23N/AN/A788222,4682,228
2021-03-29$141.62$150.0045.0%12.9%38.4%48.1%44.2%12.6%-10.1%-268.0K7.0M-108.9K5.4657.89N/AN/A13712,5273,032
2021-03-30$144.02$150.0037.5%10.7%38.9%34.5%43.5%11.9%-1.4%-220.9K5.4M-107.0K3.0453.27N/AN/A24732,5373,060
2021-03-31$147.38$150.0035.9%10.3%39.7%31.0%34.1%9.5%-2.8%-99.1K3.4M-107.3K0.4252.44N/AN/A161672,5403,075