L Options History — February 2023

In February 2023, L traded between $59.87 and $62.73. ATM implied volatility averaged 25.9%, placing in the 20.8% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 8.7% (HV 20d: 17.2%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 68.20.

Notable Days

2023-02-23: Highest Volume — 2,562 contracts
2023-02-08: Largest IV spike — 29.7% change
2023-02-03: Highest IV Rank — 36.5%
2023-02-08: Largest Expected Move — 9.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$61.40	$59.87	$62.73	$60.91	$61.16
Max Pain	$59.47	$55.00	$60.00	$60.00	$60.00
ATM IV	25.9%	19.7%	34.0%	30.5%	21.7%
Expected Move	7.1%	5.6%	9.0%	8.8%	6.2%
HV 20d	17.2%	15.7%	19.4%	17.5%	15.7%
HV 60d	18.2%	17.6%	19.7%	18.6%	17.6%
IV Rank	20.8%	8.7%	36.5%	29.7%	12.7%
IV Percentile	35.1%	4.0%	73.0%	63.1%	11.9%
Term Structure	-4.2%	-10.3%	1.3%	-6.4%	-4.9%
VWIV	24.3%	14.5%	43.5%	29.1%	21.5%
Skew 25d	6.6%	-2.3%	16.5%	-1.4%	6.8%
Skew 10d	4.1%	-26.7%	30.3%	-26.7%	6.4%
Call IV 25d	20.9%	13.9%	39.5%	27.6%	14.2%
Put IV 25d	27.4%	19.3%	42.6%	26.2%	20.9%
Bid-Ask Spread %	97.22	59.93	107.53	101.42	88.95
Gamma HHI	0.93	0.87	0.95	0.94	0.94
Net GEX	2.0M	1.6M	2.5M	1.7M	2.0M
Net DEX	-24.8M	-30.4M	-17.0M	-23.7M	-20.8M
Net VEX	-55.5K	-69.1K	-47.7K	-62.3K	-61.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	68.20	0.00	1280.00	1.23	0.42
Total Volume	203.211	3	2,562	67	85
Total OI	7,795.842	7,218	9,802	7,304	9,802

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
2023-02-01	$60.91	$60.00	30.5%	8.8%	17.5%	29.7%	29.1%	-1.4%	-6.4%	1.7M	-23.7M	-62.3K	1.23	101.42	30	37	6,984	320
2023-02-02	$60.19	$55.00	29.3%	8.4%	17.9%	27.3%	0.0%	3.6%	-6.4%	1.6M	-22.7M	-61.2K	4.67	102.23	6	28	7,014	345
2023-02-03	$59.87	$55.00	34.0%	6.5%	18.1%	36.5%	22.6%	8.4%	-1.2%	2.1M	-21.3M	-61.4K	0.31	99.48	176	54	7,020	378
2023-02-06	$61.63	$60.00	33.0%	7.3%	19.4%	34.4%	24.2%	2.9%	-2.5%	1.9M	-27.4M	-57.8K	0.05	97.53	168	9	7,189	402
2023-02-07	$62.73	$60.00	24.1%	5.8%	17.9%	17.3%	24.1%	11.3%	-4.5%	1.7M	-30.4M	-55.3K	0.07	100.66	336	22	7,191	409
2023-02-08	$62.28	$60.00	31.2%	9.0%	18.2%	31.1%	28.3%	10.5%	-10.3%	1.8M	-26.3M	-56.4K	0.00	102.77	27	0	6,926	543
2023-02-09	$61.98	$60.00	27.6%	7.9%	18.2%	24.0%	25.0%	7.5%	-7.6%	1.9M	-26.2M	-56.8K	0.03	101.09	35	1	6,907	543
2023-02-10	$62.15	$60.00	23.8%	6.8%	18.2%	16.7%	23.9%	11.3%	-1.7%	2.0M	-28.0M	-53.3K	0.00	106.74	13	0	6,918	543
2023-02-13	$62.56	$60.00	19.7%	5.6%	18.2%	8.8%	23.8%	10.7%	-3.1%	1.7M	-29.2M	-49.4K	0.24	107.53	37	9	6,926	543
2023-02-14	$62.07	$60.00	23.9%	6.8%	17.7%	16.8%	14.5%	16.5%	1.3%	2.0M	-28.4M	-51.2K	0.00	102.16	38	0	6,927	552
2023-02-15	$61.97	$60.00	23.3%	6.7%	16.5%	15.7%	23.3%	6.5%	0.5%	2.1M	-27.9M	-50.5K	0.00	101.83	36	0	6,927	552
2023-02-16	$61.81	$60.00	26.5%	7.6%	16.4%	22.0%	22.6%	5.0%	-9.5%	2.0M	-26.6M	-51.4K	0.03	100.65	35	1	6,950	552
2023-02-17	$61.34	$60.00	21.3%	6.1%	16.7%	11.8%	20.7%	6.6%	-0.7%	2.4M	-26.9M	-50.0K	0.00	96.06	55	0	6,961	552
2023-02-21	$60.94	$60.00	23.4%	6.7%	16.6%	15.9%	24.0%	5.2%	-3.8%	2.5M	-23.6M	-48.7K	2.00	92.67	5	10	6,728	490
2023-02-22	$60.47	$60.00	27.1%	7.8%	16.3%	23.1%	0.0%	-2.3%	-6.9%	2.4M	-20.3M	-48.0K	0.50	98.68	2	1	6,730	496
2023-02-23	$60.79	$60.00	28.5%	8.2%	16.2%	25.9%	22.8%	8.0%	-2.1%	2.1M	-23.4M	-47.7K	1280.00	59.93	2	2,560	6,733	497
2023-02-24	$60.88	$60.00	24.3%	7.0%	16.0%	17.7%	43.5%	3.1%	-3.5%	2.1M	-17.0M	-69.1K	0.50	96.53	2	1	6,733	3,052
2023-02-27	$60.94	$60.00	19.7%	5.6%	16.0%	8.7%	19.6%	5.1%	-6.7%	2.5M	-20.4M	-63.2K	5.67	90.37	6	34	6,734	3,052
2023-02-28	$61.16	$60.00	21.7%	6.2%	15.7%	12.7%	21.5%	6.8%	-4.9%	2.0M	-20.8M	-61.5K	0.42	88.95	60	25	6,736	3,066