OPEN Options History — September 2023

In September 2023, OPEN traded between $2.34 and $3.92. ATM implied volatility averaged 90.2%, placing in the 6.9% IV rank vs the trailing year. The 30-day expected move averaged 25.8%. IV traded above realized volatility by 24.7% (HV 20d: 65.5%). Max pain ranged from $3.50 to $3.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.56.

Notable Days

  • 2023-09-21: Highest Volume — 66,449 contracts
  • 2023-09-21: Largest IV spike — 10.9% change
  • 2023-09-26: Highest IV Rank — 12.4%
  • 2023-09-26: Largest Expected Move — 28.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.18$2.34$3.92$3.92$2.63
Max Pain$3.50$3.50$3.50$3.50$3.50
ATM IV90.2%83.7%98.2%87.2%92.7%
Expected Move25.8%23.8%28.3%24.9%25.9%
HV 20d65.5%55.5%80.4%59.3%75.7%
HV 60d106.0%101.8%110.0%110.0%101.8%
IV Rank6.9%0.0%12.4%6.6%7.7%
IV Percentile5.8%0.0%12.3%2.4%9.9%
Term Structure0.2%-5.9%4.8%0.7%1.3%
VWIV90.6%83.3%99.6%86.0%91.3%
Skew 25d3.2%-2.4%8.9%1.3%-0.2%
Skew 10d4.2%-29.6%91.0%-13.4%-4.8%
Call IV 25d90.6%84.4%99.9%88.6%95.8%
Put IV 25d93.8%84.0%104.9%89.8%95.6%
Bid-Ask Spread %5.883.648.464.816.24
Gamma HHI0.190.160.230.170.17
Net GEX251.5K118.8K362.2K362.2K167.1K
Net DEX-26.0M-40.3M-11.1M-40.3M-17.6M
Net VEX-240.2K-268.8K-203.8K-260.9K-227.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.560.181.510.560.30
Total Volume16,058.555,85166,44910,94910,398
Total OI442,694.3413,674462,342432,988460,858

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-09-01$3.92$3.5087.2%24.9%59.3%6.6%86.0%1.3%0.7%362.2K-40.3M-260.9K0.564.817,0253,924291,971141,017
2023-09-05$3.83$3.5092.6%26.2%58.9%11.0%94.7%3.4%-2.2%355.7K-37.3M-257.2K1.516.285,6738,594282,404131,270
2023-09-06$3.75$3.5092.0%26.8%57.6%10.6%95.0%1.5%0.4%305.0K-34.2M-251.6K0.518.468,2194,221284,478135,851
2023-09-07$3.79$3.5088.6%24.8%55.5%7.7%89.3%2.4%-1.7%330.8K-35.4M-253.7K0.667.895,7063,782289,788136,283
2023-09-08$3.79$3.5086.1%24.5%55.5%5.7%85.8%5.3%0.5%357.0K-36.1M-252.5K0.217.167,7771,645293,085136,658
2023-09-11$3.71$3.5086.7%25.2%56.0%6.1%87.3%0.2%1.1%349.6K-34.7M-244.4K0.405.758,4143,386286,579132,399
2023-09-12$3.67$3.5086.7%24.9%56.0%6.2%85.6%4.0%1.2%344.3K-33.4M-245.4K0.286.097,3262,076291,860134,250
2023-09-13$3.52$3.5084.8%23.8%56.1%2.6%86.3%1.5%-0.2%279.6K-29.8M-240.5K0.915.3919,40917,677296,400135,069
2023-09-14$3.45$3.5083.7%23.8%56.7%0.0%85.3%-0.6%-2.3%308.9K-31.2M-252.2K0.447.085,1602,265312,950131,247
2023-09-15$3.17$3.5088.6%25.6%63.9%4.2%89.0%2.5%-0.3%230.0K-23.1M-232.4K0.184.8938,5987,139314,872134,070
2023-09-18$3.19$3.5087.5%25.1%63.8%3.2%92.3%5.0%1.8%267.8K-29.8M-268.1K0.655.337,2404,734323,739123,585
2023-09-19$3.20$3.5088.1%25.3%63.2%3.8%87.5%5.0%-0.4%282.9K-29.7M-268.8K0.614.926,2773,845328,510125,243
2023-09-20$2.98$3.5086.5%24.8%67.2%2.3%83.3%-2.4%2.2%225.2K-23.4M-253.2K0.364.969,0423,287331,706125,662
2023-09-21$2.56$3.5095.9%27.7%80.4%10.5%96.1%7.2%-5.9%141.8K-13.5M-215.1K0.265.1052,93813,511335,419126,558
2023-09-22$2.54$3.5092.2%26.4%79.3%7.3%91.4%2.6%2.9%129.8K-13.6M-218.0K0.666.984,6633,097332,783129,559
2023-09-25$2.44$3.5095.3%28.1%75.8%10.0%94.4%8.9%4.8%119.0K-12.5M-212.3K0.423.647,1202,962322,437126,101
2023-09-26$2.34$3.5098.2%28.3%74.5%12.4%97.6%2.7%0.5%118.8K-11.1M-203.8K0.953.824,5394,314325,936127,533
2023-09-27$2.56$3.5096.6%27.0%80.0%11.1%99.6%7.1%-3.4%176.3K-17.2M-225.8K0.686.395,5513,786328,537127,973
2023-09-28$2.59$3.5094.0%26.3%74.6%8.8%93.5%6.8%3.5%177.9K-15.9M-220.5K0.656.453,5442,307330,356128,890
2023-09-29$2.63$3.5092.7%25.9%75.7%7.7%91.3%-0.2%1.3%167.1K-17.6M-227.3K0.306.247,9812,417332,052128,806