L Options History — February 2024

In February 2024, L traded between $72.09 and $75.15. ATM implied volatility averaged 16.3%, placing in the 9.3% IV rank vs the trailing year. The 30-day expected move averaged 4.4%. IV traded above realized volatility by 4.5% (HV 20d: 11.8%). Max pain ranged from $65.00 to $65.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.29.

Notable Days

2024-02-05: Highest Volume — 1,532 contracts
2024-02-12: Largest IV spike — 37.7% change
2024-02-01: Highest IV Rank — 26.8%
2024-02-01: Largest Expected Move — 5.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$73.77	$72.09	$75.15	$72.22	$75.13
Max Pain	$65.00	$65.00	$65.00	$65.00	$65.00
ATM IV	16.3%	11.2%	25.9%	25.9%	15.3%
Expected Move	4.4%	3.2%	5.7%	5.7%	4.4%
HV 20d	11.8%	9.4%	13.6%	9.4%	13.2%
HV 60d	12.9%	12.4%	13.4%	12.4%	12.5%
IV Rank	9.3%	0.0%	26.8%	26.8%	7.5%
IV Percentile	24.9%	0.0%	85.7%	85.7%	17.9%
Term Structure	0.2%	-2.2%	1.8%	-2.2%	-0.2%
VWIV	17.3%	14.5%	22.4%	20.5%	15.1%
Skew 25d	1.2%	-1.7%	3.4%	2.1%	1.7%
Skew 10d	3.2%	-3.6%	11.3%	3.2%	3.5%
Call IV 25d	17.0%	13.5%	18.9%	18.4%	17.4%
Put IV 25d	18.2%	16.7%	20.5%	20.5%	19.1%
Bid-Ask Spread %	69.29	50.82	90.87	89.30	58.66
Gamma HHI	0.71	0.48	0.97	0.64	0.51
Net GEX	1.6M	465.2K	7.3M	745.9K	589.5K
Net DEX	-7.8M	-17.7M	-4.7M	-5.9M	-9.7M
Net VEX	-13.7K	-19.0K	-11.6K	-15.6K	-11.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.29	0.00	1.44	1.22	0.03
Total Volume	241.15	20	1,532	20	32
Total OI	3,342.5	1,765	4,728	2,578	2,432

Daily Data (20 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
2024-02-01	$72.22	$65.00	25.9%	5.7%	9.4%	26.8%	20.5%	2.1%	-2.2%	745.9K	-5.9M	-15.6K	1.22	89.30	9	11	2,121	457
2024-02-02	$72.97	$65.00	24.0%	5.0%	9.7%	23.3%	18.4%	0.9%	-0.5%	836.9K	-6.9M	-15.6K	0.41	90.87	303	124	2,122	460
2024-02-05	$73.19	$65.00	18.9%	4.3%	9.7%	13.8%	16.1%	-0.9%	1.3%	1.2M	-7.4M	-16.1K	0.05	90.27	1,463	69	2,608	579
2024-02-06	$72.80	$65.00	14.9%	4.2%	10.0%	6.3%	20.0%	0.6%	1.4%	2.4M	-8.9M	-19.0K	1.00	88.42	24	24	3,926	557
2024-02-07	$72.66	$65.00	14.2%	4.1%	9.9%	5.0%	14.5%	1.6%	1.4%	2.0M	-8.0M	-17.7K	0.04	73.19	127	5	3,937	572
2024-02-08	$72.09	$65.00	17.0%	4.9%	10.4%	10.1%	15.9%	2.1%	0.3%	1.2M	-5.5M	-13.3K	0.40	66.40	25	10	3,990	577
2024-02-09	$72.60	$65.00	11.2%	3.2%	10.6%	0.0%	15.9%	3.4%	1.8%	1.7M	-6.4M	-14.4K	0.00	51.21	30	0	3,970	581
2024-02-12	$73.13	$65.00	15.4%	4.4%	10.9%	7.8%	15.7%	-1.7%	1.0%	2.3M	-8.0M	-14.1K	0.03	50.82	199	6	3,970	581
2024-02-13	$72.88	$65.00	15.6%	4.5%	11.0%	8.0%	17.7%	1.7%	0.9%	1.1M	-5.9M	-12.0K	0.10	64.88	129	13	4,143	585
2024-02-14	$73.40	$65.00	15.1%	4.3%	11.1%	7.3%	18.7%	1.6%	1.0%	2.0M	-6.8M	-13.0K	0.00	60.35	50	0	4,137	583
2024-02-15	$75.06	$65.00	15.4%	4.4%	13.2%	7.7%	14.9%	2.3%	-2.0%	7.3M	-17.7M	-15.1K	0.03	72.56	461	14	4,128	572
2024-02-16	$74.32	$65.00	15.2%	4.4%	13.5%	7.4%	16.0%	2.5%	0.1%	4.6M	-8.0M	-12.6K	0.01	66.34	576	7	4,001	586
2024-02-20	$74.03	$65.00	15.4%	4.4%	13.2%	7.8%	15.4%	1.5%	-0.5%	465.2K	-4.7M	-11.8K	0.14	88.23	70	10	1,300	465
2024-02-21	$74.13	$65.00	15.0%	4.3%	13.1%	7.1%	18.3%	0.9%	0.1%	466.9K	-4.7M	-11.8K	1.44	76.85	9	13	1,299	475
2024-02-22	$74.95	$65.00	15.8%	4.5%	13.6%	8.6%	20.5%	1.2%	-0.7%	465.5K	-5.3M	-11.6K	0.01	64.16	537	4	1,289	484
2024-02-23	$75.15	$65.00	14.9%	4.3%	13.4%	6.8%	18.3%	0.6%	0.0%	570.8K	-8.7M	-12.2K	0.24	57.42	147	35	1,745	490
2024-02-26	$74.70	$65.00	15.5%	4.4%	13.6%	7.9%	22.4%	1.0%	1.0%	601.8K	-9.0M	-12.0K	0.02	57.56	65	1	1,842	493
2024-02-27	$74.91	$65.00	15.4%	4.4%	13.6%	7.7%	15.3%	0.5%	-0.5%	609.9K	-9.3M	-11.8K	0.53	59.47	81	43	1,876	494
2024-02-28	$75.10	$65.00	15.7%	4.5%	13.4%	8.4%	15.7%	0.7%	-0.5%	604.2K	-9.7M	-11.6K	0.02	58.93	95	2	1,910	513
2024-02-29	$75.13	$65.00	15.3%	4.4%	13.2%	7.5%	15.1%	1.7%	-0.2%	589.5K	-9.7M	-11.8K	0.03	58.66	31	1	1,917	515