LOW Options History — March 2021

In March 2021, LOW traded between $153.68 and $191.06. ATM implied volatility averaged 26.7%, placing in the 3.3% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded below realized volatility by 5.1% (HV 20d: 31.9%). Max pain ranged from $160.00 to $170.00. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.82.

Notable Days

2021-03-19: Highest Volume — 34,380 contracts
2021-03-22: Largest IV drop — 12.1% change
2021-03-08: Highest IV Rank — 6.6%
2021-03-04: Largest Expected Move — 8.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$174.33	$153.68	$191.06	$162.49	$191.06
Max Pain	$165.43	$160.00	$170.00	$165.00	$170.00
ATM IV	26.7%	22.6%	31.9%	27.4%	24.3%
Expected Move	7.6%	6.6%	8.8%	7.6%	6.7%
HV 20d	31.9%	25.8%	36.2%	29.2%	25.8%
HV 60d	27.1%	25.6%	28.7%	25.7%	27.9%
IV Rank	3.3%	0.0%	6.6%	2.4%	3.9%
IV Percentile	10.2%	0.0%	36.9%	11.9%	0.4%
Term Structure	0.2%	-1.3%	1.5%	-0.1%	-0.4%
VWIV	27.9%	24.8%	34.0%	28.0%	25.2%
Skew 25d	2.8%	1.7%	4.4%	3.1%	3.1%
Skew 10d	6.0%	-0.4%	9.9%	-0.4%	5.6%
Call IV 25d	26.2%	22.8%	32.6%	26.8%	23.3%
Put IV 25d	28.9%	26.2%	34.9%	29.9%	26.4%
Bid-Ask Spread %	11.08	5.41	21.26	7.57	10.01
Gamma HHI	0.15	0.08	0.73	0.10	0.13
Net GEX	26.2M	-8.4M	155.2M	7.3M	32.2M
Net DEX	-455.2M	-946.0M	254.1M	-73.1M	-838.2M
Net VEX	-3.7M	-3.9M	-3.3M	-3.6M	-3.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.82	0.38	1.65	0.50	0.50
Total Volume	17,661.391	9,932	34,380	13,027	12,714
Total OI	195,131.913	173,394	220,141	185,726	191,123

Daily Data (23 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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2021-03-01	$162.49	$165.00	27.4%	7.6%	29.2%	2.4%	28.0%	3.1%	-0.1%	7.3M	-73.1M	-3.6M	0.50	7.57	N/A	N/A	8,663	4,364	101,240	84,486
2021-03-02	$163.90	$165.00	27.1%	7.6%	28.2%	2.1%	27.3%	2.0%	-0.0%	10.4M	-126.6M	-3.6M	0.84	5.41	N/A	N/A	5,393	4,539	105,084	85,204
2021-03-03	$159.22	$165.00	29.4%	8.4%	28.6%	4.3%	34.0%	2.8%	-0.5%	-1.2M	69.5M	-3.6M	1.38	10.26	N/A	N/A	5,936	8,198	105,738	88,763
2021-03-04	$153.68	$160.00	31.6%	8.8%	30.0%	6.4%	30.8%	2.4%	-1.1%	-8.4M	254.1M	-3.3M	1.35	16.15	N/A	N/A	7,967	10,748	106,660	85,871
2021-03-05	$158.78	$160.00	29.0%	8.3%	32.0%	3.9%	29.9%	3.0%	-0.4%	-1.7M	81.7M	-3.6M	0.59	19.24	N/A	N/A	7,353	4,341	107,301	90,525
2021-03-08	$163.82	$160.00	31.9%	8.5%	34.0%	6.6%	31.1%	3.5%	-0.1%	8.3M	-134.8M	-3.7M	0.69	18.31	N/A	N/A	14,598	10,000	101,941	88,153
2021-03-09	$166.69	$160.00	28.5%	8.3%	33.7%	3.5%	30.3%	1.9%	0.4%	16.1M	-262.3M	-3.7M	1.65	9.24	N/A	N/A	7,108	11,710	106,582	93,352
2021-03-10	$169.26	$160.00	28.2%	8.1%	34.3%	3.2%	30.1%	2.4%	0.0%	22.2M	-380.6M	-3.7M	0.85	8.05	N/A	N/A	6,616	5,639	107,828	96,431
2021-03-11	$171.68	$160.00	27.3%	8.0%	34.8%	2.3%	28.6%	2.5%	0.7%	28.6M	-499.8M	-3.7M	0.48	5.43	N/A	N/A	18,986	9,204	108,570	98,444
2021-03-12	$171.30	$165.00	27.4%	8.0%	34.7%	2.4%	28.6%	1.7%	0.8%	24.8M	-463.0M	-3.7M	0.59	11.95	N/A	N/A	9,383	5,551	107,671	101,828
2021-03-15	$173.91	$165.00	27.0%	7.7%	35.0%	2.0%	28.7%	2.8%	0.3%	31.9M	-557.8M	-3.5M	1.57	6.75	N/A	N/A	6,288	9,879	103,111	97,754
2021-03-16	$175.48	$165.00	25.7%	7.4%	35.0%	0.8%	27.3%	3.0%	0.8%	32.2M	-582.5M	-3.6M	0.71	5.87	N/A	N/A	9,501	6,781	103,799	100,796
2021-03-17	$174.22	$165.00	26.0%	7.4%	34.6%	1.1%	27.0%	2.1%	0.5%	26.4M	-528.0M	-3.5M	0.61	16.73	N/A	N/A	9,262	5,667	103,478	103,125
2021-03-18	$174.82	$165.00	26.7%	7.6%	34.6%	1.8%	27.0%	2.7%	1.0%	29.6M	-584.3M	-3.7M	0.56	7.39	N/A	N/A	8,401	4,693	108,538	105,326
2021-03-19	$180.03	$165.00	25.7%	7.3%	36.2%	1.2%	27.6%	2.5%	1.2%	155.2M	-857.0M	-3.8M	0.88	7.11	N/A	N/A	18,319	16,061	112,324	107,817
2021-03-22	$181.69	$170.00	22.6%	6.6%	34.8%	0.0%	24.8%	3.2%	0.9%	20.1M	-585.8M	-3.7M	0.38	21.26	N/A	N/A	17,989	6,864	79,452	93,942
2021-03-23	$180.82	$170.00	24.6%	6.9%	33.9%	3.8%	25.0%	3.1%	0.4%	20.9M	-558.9M	-3.7M	0.58	17.11	N/A	N/A	7,723	4,474	83,610	95,934
2021-03-24	$181.90	$170.00	24.8%	7.0%	29.7%	4.2%	25.3%	3.7%	-0.8%	24.6M	-596.3M	-3.7M	0.78	10.55	N/A	N/A	8,476	6,614	85,201	97,550
2021-03-25	$185.44	$170.00	25.0%	7.2%	27.7%	4.5%	26.3%	3.1%	-0.3%	31.7M	-749.9M	-3.7M	0.99	7.78	N/A	N/A	10,435	10,320	87,192	100,460
2021-03-26	$190.47	$170.00	24.9%	7.1%	28.4%	4.6%	27.0%	2.1%	-1.3%	43.4M	-946.0M	-3.6M	0.77	14.56	N/A	N/A	17,897	13,742	88,991	103,092
2021-03-29	$188.74	$170.00	25.1%	7.3%	29.1%	5.0%	27.1%	4.4%	1.5%	22.2M	-735.5M	-3.9M	1.01	7.54	N/A	N/A	6,796	6,851	83,836	95,529
2021-03-30	$190.13	$170.00	25.1%	7.0%	29.1%	5.1%	25.0%	2.9%	0.7%	25.2M	-813.4M	-3.6M	0.60	10.47	N/A	N/A	8,842	5,326	85,696	98,686
2021-03-31	$191.06	$170.00	24.3%	6.7%	25.8%	3.9%	25.2%	3.1%	-0.4%	32.2M	-838.2M	-3.9M	0.50	10.01	N/A	N/A	8,484	4,230	90,205	100,918