IWC Options History — May 2023

In May 2023, IWC traded between $99.47 and $106.19. ATM implied volatility averaged 21.7%, placing in the 13.3% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded below realized volatility by 0.2% (HV 20d: 22.0%). Max pain ranged from $106.00 to $110.00. Net GEX was positive for 5 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 2.71.

Notable Days

  • 2023-05-25: Highest Volume — 74 contracts
  • 2023-05-02: Largest IV spike — 19.4% change
  • 2023-05-04: Highest IV Rank — 23.1%
  • 2023-05-04: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$102.89$99.47$106.19$101.81$102.91
Max Pain$109.45$106.00$110.00$106.00$110.00
ATM IV21.7%19.3%26.2%19.3%21.7%
Expected Move6.2%5.5%6.9%5.5%6.2%
HV 20d22.0%20.0%23.8%20.7%20.0%
HV 60d23.6%22.3%24.1%22.3%23.7%
IV Rank13.3%7.9%23.1%7.9%13.2%
IV Percentile15.1%2.8%42.1%2.8%17.5%
Term Structure0.0%-1.4%1.9%0.5%-1.4%
VWIV23.1%17.2%30.9%18.1%21.4%
Skew 25d6.5%4.4%9.7%6.0%4.4%
Skew 10d12.7%7.5%20.1%12.6%8.9%
Call IV 25d18.8%16.8%21.1%16.8%20.7%
Put IV 25d25.3%22.8%28.9%22.8%25.1%
Bid-Ask Spread %76.2966.7389.0685.1578.53
Gamma HHI0.230.100.540.200.10
Net GEX-28.1K-147.1K14.5K-667-622
Net DEX555.5K355.5K969.5K447.6K490.7K
Net VEX-3.0K-4.4K-2.1K-2.2K-4.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.710.0012.006.000.13
Total Volume18.727074761
Total OI413.091278513347427

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$101.81$106.0019.3%5.5%20.7%7.9%18.1%6.0%0.5%-667447.6K-2.2K6.0085.15N/AN/A16167180
2023-05-02$99.48$106.0023.0%6.6%21.9%16.2%0.0%6.8%-0.2%-20.3K587.7K-2.1K0.0084.62N/AN/A019168186
2023-05-03$100.92$106.0023.0%6.6%21.1%16.0%24.9%5.5%-1.1%-7.5K503.6K-2.3K0.0089.06N/AN/A010168191
2023-05-04$99.47$110.0026.2%6.9%21.4%23.1%25.2%8.3%-0.3%-22.6K658.6K-2.5K12.0072.82N/AN/A112168201
2023-05-05$102.40$110.0022.6%6.4%23.8%15.1%0.0%9.7%1.9%-4.0K552.0K-3.1K0.0081.58N/AN/A04169213
2023-05-08$102.03$110.0022.1%6.3%23.6%14.2%21.4%7.5%0.3%-8.6K566.5K-2.8K1.6775.18N/AN/A35169213
2023-05-09$102.47$110.0024.1%6.5%23.4%18.5%0.0%7.0%0.1%-2.3K532.0K-2.9K0.0070.87N/AN/A02172215
2023-05-10$103.10$110.0021.3%6.1%23.3%12.4%20.7%6.6%1.0%-69.9K692.2K-3.3K11.0076.03N/AN/A111172317
2023-05-11$101.91$110.0021.6%6.2%22.9%13.1%25.0%9.5%0.5%-112.8K907.2K-3.2K0.0078.19N/AN/A08172320
2023-05-12$101.56$110.0020.8%5.9%22.4%11.1%0.0%6.7%0.8%-140.0K969.5K-3.0K0.0076.49N/AN/A01172324
2023-05-15$103.04$110.0020.3%5.8%21.3%10.1%27.1%6.9%1.4%-81.2K667.2K-2.8K0.0075.99N/AN/A02172325
2023-05-16$101.86$110.0020.8%6.0%21.5%11.1%30.9%6.4%0.3%-147.1K852.5K-2.8K0.0077.53N/AN/A017174326
2023-05-17$103.98$110.0020.3%5.8%22.7%10.1%0.0%5.3%1.0%-29.6K490.9K-2.6K0.0074.59N/AN/A015174324
2023-05-18$104.48$110.0020.0%5.7%22.4%9.4%0.0%5.5%-0.5%14.5K464.7K-2.9K0.0078.86N/AN/A00174339
2023-05-19$104.52$110.0019.5%5.6%22.4%8.4%17.2%6.2%0.7%8.5K435.2K-2.9K0.0071.35N/AN/A620174339
2023-05-22$106.00$110.0019.8%5.7%22.9%9.1%17.2%6.2%0.5%-7.8K420.1K-2.4K0.0568.51N/AN/A20182196
2023-05-23$106.19$110.0021.6%6.2%20.3%13.0%21.4%5.9%-0.4%2.1K355.5K-2.7K0.2568.90N/AN/A41101197
2023-05-24$104.77$110.0022.8%6.5%20.6%15.7%24.6%6.5%-1.0%-4.7K415.3K-2.8K0.4066.73N/AN/A4217106195
2023-05-25$103.07$110.0023.7%6.8%21.6%17.6%28.4%6.0%-1.4%-3.0K447.4K-3.4K0.9071.81N/AN/A3935146208
2023-05-26$104.06$110.0021.9%6.3%21.6%13.6%0.0%5.3%-0.7%12.3K381.3K-4.4K0.0077.07N/AN/A20184241
2023-05-30$103.64$110.0021.9%6.3%21.7%13.7%21.4%4.6%-1.1%7.9K383.1K-4.3K0.1178.51N/AN/A91186241
2023-05-31$102.91$110.0021.7%6.2%20.0%13.2%0.0%4.4%-1.4%-622490.7K-4.1K0.1378.53N/AN/A547185242