OUSA Options History — April 2020

In April 2020, OUSA traded between $27.77 and $32.76. ATM implied volatility averaged 40.2%, placing in the 27.9% IV rank vs the trailing year. The 30-day expected move averaged 11.0%. IV traded below realized volatility by 16.1% (HV 20d: 56.3%). Max pain ranged from $31.00 to $35.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.21.

Notable Days

2020-04-20: Highest Volume — 20 contracts
2020-04-28: Largest IV spike — 82.9% change
2020-04-07: Highest IV Rank — 45.3%
2020-04-01: Largest Expected Move — 17.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$31.00	$27.77	$32.76	$27.77	$32.14
Max Pain	$31.44	$31.00	$35.00	$35.00	$31.00
ATM IV	40.2%	18.2%	60.0%	59.7%	29.2%
Expected Move	11.0%	5.2%	17.1%	17.1%	8.4%
HV 20d	56.3%	33.4%	75.0%	72.4%	33.4%
HV 60d	49.5%	46.5%	50.8%	46.5%	50.8%
IV Rank	27.9%	8.7%	45.3%	45.1%	18.2%
IV Percentile	79.3%	23.0%	94.0%	94.0%	64.7%
Term Structure	-2.4%	-22.1%	28.1%	-22.1%	0.7%
VWIV	42.3%	36.3%	50.5%	40.2%	36.3%
Skew 25d	13.2%	6.2%	23.9%	21.9%	9.8%
Skew 10d	16.6%	6.1%	41.9%	25.3%	21.9%
Call IV 25d	29.9%	20.3%	43.2%	43.2%	24.0%
Put IV 25d	43.0%	33.5%	65.1%	65.1%	33.7%
Bid-Ask Spread %	121.05	81.62	141.45	111.77	120.12
Gamma HHI	0.58	0.34	0.85	0.58	0.34
Net GEX	3.7K	1.1K	5.9K	1.1K	4.2K
Net DEX	-24.9K	-70.5K	10.5K	10.5K	-33.0K
Net VEX	-284	-413	-97	-97	-195
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.21	0.00	1.00	0.00	0.00
Total Volume	1.333	0	20	0	1
Total OI	117.476	89	127	124	110

Daily Data (21 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
2020-04-01	$27.77	$35.00	59.7%	17.1%	72.4%	45.1%	0.0%	21.9%	-22.1%	1.1K	10.5K	-97	0.00	111.77	N/A	N/A	0	0	117	7
2020-04-02	$28.65	$0.00	47.7%	12.4%	73.7%	34.6%	0.0%	23.9%	-9.6%	1.4K	9.6K	-113	0.00	81.62	N/A	N/A	1	0	117	7
2020-04-03	$28.18	$0.00	56.1%	13.6%	73.8%	42.0%	0.0%	14.2%	-1.4%	1.5K	6.4K	-134	0.00	96.64	N/A	N/A	0	0	117	7
2020-04-06	$29.82	$0.00	39.7%	10.1%	75.0%	27.7%	0.0%	21.8%	-4.0%	1.7K	9.9K	-115	0.00	85.15	N/A	N/A	1	0	117	7
2020-04-07	$30.35	$0.00	60.0%	11.1%	74.8%	45.3%	0.0%	8.4%	-3.0%	3.2K	-12.0K	-287	0.00	134.69	N/A	N/A	0	0	118	7
2020-04-08	$30.89	$0.00	36.8%	10.6%	73.9%	24.9%	0.0%	15.0%	1.2%	3.6K	-14.7K	-289	0.00	133.77	N/A	N/A	0	0	118	7
2020-04-09	$31.50	$0.00	37.7%	10.8%	67.7%	25.6%	0.0%	10.1%	-0.4%	4.5K	-25.7K	-335	0.00	136.83	N/A	N/A	0	0	118	7
2020-04-13	$31.06	$0.00	39.3%	11.3%	67.2%	27.0%	0.0%	14.2%	-1.0%	3.7K	-16.6K	-310	0.00	138.66	N/A	N/A	0	0	118	7
2020-04-14	$31.88	$0.00	36.4%	10.4%	63.3%	24.5%	0.0%	11.0%	-0.9%	4.7K	-26.7K	-353	0.50	140.55	N/A	N/A	2	1	118	7
2020-04-15	$31.18	$0.00	39.1%	11.2%	63.2%	26.8%	0.0%	10.4%	-1.5%	3.8K	-19.8K	-322	0.00	141.45	N/A	N/A	0	0	120	7
2020-04-16	$31.23	$0.00	34.0%	9.7%	56.5%	22.4%	0.0%	6.2%	0.4%	3.3K	-9.8K	-272	0.00	126.76	N/A	N/A	0	0	120	7
2020-04-17	$32.02	$0.00	31.2%	9.0%	56.6%	20.0%	0.0%	11.0%	0.7%	4.1K	-15.6K	-314	0.00	127.66	N/A	N/A	0	0	120	7
2020-04-20	$31.59	$0.00	33.4%	9.6%	53.2%	21.9%	40.2%	12.6%	-3.7%	3.9K	-38.0K	-294	1.00	121.34	N/A	N/A	10	10	89	0
2020-04-21	$30.82	$31.00	43.7%	12.5%	48.5%	30.8%	0.0%	9.2%	-10.4%	3.8K	-39.2K	-355	0.00	136.93	N/A	N/A	0	0	99	10
2020-04-22	$31.35	$31.00	45.0%	12.9%	40.9%	32.0%	0.0%	13.6%	-6.9%	3.8K	-33.2K	-304	0.00	108.66	N/A	N/A	0	0	99	10
2020-04-23	$31.41	$31.00	43.4%	12.4%	38.5%	30.6%	0.0%	8.7%	7.3%	4.3K	-39.2K	-340	0.00	114.58	N/A	N/A	0	0	99	10
2020-04-24	$31.77	$31.00	43.5%	12.5%	37.7%	30.7%	50.5%	10.2%	-12.5%	4.4K	-39.3K	-317	0.00	118.02	N/A	N/A	1	0	99	10
2020-04-27	$32.31	$31.00	18.2%	5.2%	37.9%	8.7%	0.0%	16.7%	28.1%	5.2K	-61.8K	-404	0.00	119.52	N/A	N/A	0	0	100	10
2020-04-28	$32.37	$31.00	33.4%	9.6%	37.5%	21.9%	36.3%	8.0%	-2.9%	5.6K	-64.4K	-391	0.00	123.44	N/A	N/A	1	0	100	10
2020-04-29	$32.76	$31.00	36.8%	10.6%	36.9%	24.9%	0.0%	19.3%	-7.8%	5.9K	-70.5K	-413	0.00	123.83	N/A	N/A	0	0	100	10
2020-04-30	$32.14	$31.00	29.2%	8.4%	33.4%	18.2%	0.0%	9.8%	0.7%	4.2K	-33.0K	-195	0.00	120.12	N/A	N/A	1	0	100	10