PAYO Options History — January 2023

In January 2023, PAYO traded between $5.14 and $5.96. ATM implied volatility averaged 78.4%, placing in the 12.5% IV rank vs the trailing year. The 30-day expected move averaged 22.5%. IV traded above realized volatility by 39.5% (HV 20d: 38.9%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 14 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 19.46.

Notable Days

  • 2023-01-18: Highest Volume — 10,106 contracts
  • 2023-01-24: Largest IV spike — 438.4% change
  • 2023-01-24: Highest IV Rank — 100.0%
  • 2023-01-24: Largest Expected Move — 81.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.68$5.14$5.96$5.39$5.96
Max Pain$5.00$5.00$5.00$5.00$5.00
ATM IV78.4%52.9%284.7%76.8%93.7%
Expected Move22.5%15.2%81.6%22.0%26.9%
HV 20d38.9%30.3%45.3%42.4%30.3%
HV 60d67.8%65.4%69.2%68.9%65.4%
IV Rank12.5%0.0%100.0%13.4%17.6%
IV Percentile16.8%0.0%100.0%23.8%75.0%
Term Structure13.8%-7.1%65.6%-7.1%12.5%
VWIV68.5%55.2%85.4%77.7%85.4%
Skew 25d21.1%-8.4%107.9%14.4%-8.4%
Skew 10d52.8%-1.9%168.8%20.8%-1.9%
Call IV 25d57.1%41.3%83.8%60.5%67.9%
Put IV 25d78.2%59.3%164.3%74.9%59.5%
Bid-Ask Spread %91.1751.04111.9783.9494.98
Gamma HHI0.380.280.480.320.39
Net GEX29.2K-14.0K63.9K56.9K-313
Net DEX-1.2M-2.5M674.8K-2.1M-85.7K
Net VEX-15.6K-22.4K-10.3K-11.8K-21.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio19.460.00373.300.000.00
Total Volume645.31210,106271,735
Total OI19,394.8516,39126,54716,39122,131

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-01-03$5.39$5.0076.8%22.0%42.4%13.4%0.0%14.4%-7.1%56.9K-2.1M-11.8K0.0083.94N/AN/A27015,755636
2023-01-04$5.38$5.0077.3%22.1%42.3%13.6%77.7%42.5%23.4%52.3K-2.2M-12.1K10.0085.54N/AN/A66015,772636
2023-01-05$5.25$5.0069.4%21.0%43.0%9.8%66.6%18.9%10.5%53.7K-1.9M-11.1K3.3368.14N/AN/A31015,778694
2023-01-06$5.14$5.0067.4%21.8%43.6%8.9%75.1%10.8%23.4%48.8K-1.7M-10.5K0.3894.37N/AN/A1124215,781683
2023-01-09$5.33$5.0078.4%17.6%45.1%14.2%72.4%-3.5%22.8%53.0K-1.8M-10.4K0.00101.95N/AN/A17015,676725
2023-01-10$5.37$5.0061.9%20.2%43.8%6.2%60.5%18.0%8.1%56.4K-1.8M-10.3K0.3889.63N/AN/A522015,685725
2023-01-11$5.45$5.0058.9%16.9%42.3%4.7%60.7%10.9%30.2%59.6K-1.9M-10.4K0.0099.08N/AN/A24015,675724
2023-01-12$5.79$5.0065.9%18.9%45.3%8.1%66.1%-5.0%14.7%44.2K-2.3M-10.9K0.02105.46N/AN/A59115,687724
2023-01-13$5.76$5.0072.5%20.8%43.4%11.3%76.7%8.3%0.2%63.9K-2.4M-11.9K0.0098.72N/AN/A34015,698733
2023-01-17$5.84$5.0068.0%19.5%40.4%9.1%68.3%-7.7%11.0%52.5K-2.5M-11.2K0.11104.79N/AN/A18215,732733
2023-01-18$5.87$5.0067.8%19.4%39.6%9.0%65.7%30.2%5.4%57.1K-2.5M-11.3K373.30111.97N/AN/A2710,07915,738732
2023-01-19$5.87$5.0069.0%19.8%37.5%7.2%67.7%14.1%11.5%9.2K-791.2K-22.3K0.13102.38N/AN/A23315,74510,802
2023-01-20$5.92$5.0068.3%19.6%36.9%6.8%68.8%19.3%3.3%2.6K-832.3K-22.4K0.45100.22N/AN/A1526815,72710,803
2023-01-23$5.96$5.0052.9%15.2%36.1%0.0%55.2%81.9%13.3%-1.2K-22.8K-21.3K0.4878.44N/AN/A673211,33210,543
2023-01-24$5.86$5.00284.7%81.6%34.9%100.0%71.4%107.9%65.6%-14.0K674.8K-18.4K0.00103.21N/AN/A75011,37910,574
2023-01-25$5.84$5.0059.3%17.0%34.2%2.8%0.0%14.9%-3.6%-6.5K176.0K-21.2K0.0095.50N/AN/A12011,44810,574
2023-01-26$5.83$5.0053.8%15.4%33.7%0.4%70.6%20.8%15.7%-1.9K-144.8K-21.3K0.7077.86N/AN/A10711,45510,576
2023-01-27$5.89$5.0060.1%17.2%33.4%3.1%61.6%21.1%3.1%472-200.2K-21.2K0.0076.12N/AN/A27011,46210,573
2023-01-30$5.86$5.0062.1%17.8%30.3%4.0%62.8%12.8%12.0%-2.6K68.9K-21.1K0.0051.04N/AN/A102011,47810,573
2023-01-31$5.96$5.0093.7%26.9%30.3%17.6%85.4%-8.4%12.5%-313-85.7K-21.1K0.0094.98N/AN/A1,734111,55810,573