L Options History — February 2019

In February 2019, L traded between $44.62 and $48.08. ATM implied volatility averaged 17.6%, placing in the 19.7% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded below realized volatility by 4.3% (HV 20d: 21.8%). Max pain ranged from $50.00 to $50.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 0.63.

Notable Days

2019-02-11: Highest Volume — 1,739 contracts
2019-02-05: Largest IV spike — 38.3% change
2019-02-08: Highest IV Rank — 44.9%
2019-02-08: Largest Expected Move — 6.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$47.26	$44.62	$48.08	$47.93	$47.56
Max Pain	$50.00	$50.00	$50.00	$50.00	$50.00
ATM IV	17.6%	13.2%	23.9%	18.4%	16.2%
Expected Move	5.1%	3.8%	6.8%	5.4%	4.6%
HV 20d	21.8%	9.3%	28.2%	12.6%	27.5%
HV 60d	21.8%	18.9%	23.5%	19.5%	22.4%
IV Rank	19.7%	2.2%	44.9%	23.0%	13.9%
IV Percentile	44.0%	1.6%	77.0%	50.8%	34.9%
Term Structure	-0.1%	-3.0%	7.1%	-1.0%	-3.0%
VWIV	17.5%	14.3%	21.9%	19.7%	16.6%
Skew 25d	4.0%	0.4%	9.2%	8.3%	0.4%
Skew 10d	6.9%	1.9%	15.9%	15.9%	1.9%
Call IV 25d	16.7%	11.6%	19.8%	19.1%	18.6%
Put IV 25d	20.6%	17.2%	27.3%	27.3%	19.0%
Bid-Ask Spread %	68.86	47.34	95.12	95.12	61.45
Gamma HHI	0.58	0.41	0.88	0.64	0.54
Net GEX	-208.3K	-346.8K	-114.1K	-253.3K	-195.1K
Net DEX	5.6M	4.4M	8.1M	4.6M	6.9M
Net VEX	-13.3K	-17.0K	-7.8K	-16.3K	-12.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.63	0.01	1.32	0.01	0.59
Total Volume	380.053	21	1,739	311	94
Total OI	4,104.474	3,054	5,170	3,054	4,508

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2019-02-01	$47.93	$50.00	18.4%	5.4%	12.6%	23.0%	19.7%	8.3%	-1.0%	-253.3K	4.6M	-16.3K	0.01	95.12	308	3	936	2,118
2019-02-04	$47.94	$50.00	14.9%	5.3%	10.4%	8.9%	18.5%	5.0%	0.3%	-200.0K	4.4M	-16.8K	0.40	85.04	20	8	1,231	2,118
2019-02-05	$48.01	$50.00	20.6%	5.3%	10.0%	31.8%	18.4%	4.5%	0.3%	-198.1K	4.4M	-16.6K	0.72	82.71	94	68	1,254	2,114
2019-02-06	$47.97	$50.00	19.0%	5.4%	9.3%	25.2%	0.0%	4.5%	-0.4%	-193.9K	4.4M	-17.0K	0.13	81.94	72	9	1,288	2,174
2019-02-07	$47.75	$50.00	19.7%	5.7%	9.4%	28.3%	21.9%	3.8%	-1.3%	-178.1K	4.7M	-16.0K	0.25	83.51	168	42	1,359	2,182
2019-02-08	$47.35	$50.00	23.9%	6.8%	9.9%	44.9%	21.3%	3.7%	-2.9%	-149.4K	5.1M	-14.9K	0.77	54.57	549	423	1,515	2,172
2019-02-11	$44.62	$50.00	19.1%	5.5%	23.6%	25.8%	19.4%	9.2%	0.6%	-260.7K	8.1M	-7.8K	0.95	76.57	892	847	2,134	2,481
2019-02-12	$45.91	$50.00	18.1%	5.2%	25.9%	21.5%	17.6%	4.8%	1.0%	-114.1K	5.5M	-10.1K	0.44	71.70	625	275	2,595	2,575
2019-02-13	$46.92	$50.00	18.1%	5.2%	27.1%	21.8%	17.8%	1.9%	1.2%	-195.3K	5.4M	-11.3K	0.60	73.80	176	106	2,401	2,615
2019-02-14	$46.08	$50.00	17.9%	5.1%	27.9%	21.1%	17.9%	4.4%	1.4%	-148.3K	6.0M	-9.2K	0.64	71.94	162	104	2,401	2,611
2019-02-15	$46.62	$50.00	17.4%	5.0%	28.2%	19.0%	14.3%	5.6%	1.3%	-134.3K	5.8M	-9.5K	0.63	71.48	153	97	2,399	2,607
2019-02-19	$47.18	$50.00	19.0%	5.4%	28.0%	25.3%	19.0%	1.6%	-0.5%	-185.2K	6.4M	-10.6K	0.82	56.84	316	260	1,109	2,131
2019-02-20	$47.48	$50.00	19.6%	5.6%	27.7%	27.6%	16.4%	2.9%	-1.0%	-227.8K	5.5M	-12.8K	1.32	47.34	59	78	1,337	2,356
2019-02-21	$47.50	$50.00	15.7%	4.5%	27.6%	12.0%	14.6%	3.3%	7.1%	-231.5K	5.5M	-13.1K	0.97	52.51	269	261	1,363	2,356
2019-02-22	$47.76	$50.00	14.5%	4.1%	27.6%	7.1%	14.6%	2.8%	-1.1%	-261.0K	5.7M	-14.9K	1.20	59.03	211	253	1,594	2,528
2019-02-25	$48.08	$50.00	14.1%	4.0%	27.5%	5.7%	14.8%	4.4%	-0.7%	-346.8K	5.6M	-15.8K	0.24	62.19	17	4	1,756	2,706
2019-02-26	$47.75	$50.00	13.2%	3.8%	27.6%	2.2%	16.5%	2.5%	-1.4%	-267.1K	6.3M	-14.5K	0.64	50.21	74	47	1,752	2,702
2019-02-27	$47.60	$50.00	14.9%	4.3%	27.6%	8.8%	16.0%	1.6%	-2.7%	-218.1K	6.8M	-13.2K	0.60	70.34	48	29	1,788	2,719
2019-02-28	$47.56	$50.00	16.2%	4.6%	27.5%	13.9%	16.6%	0.4%	-3.0%	-195.1K	6.9M	-12.5K	0.59	61.45	59	35	1,786	2,722