PAYO Options History — March 2023

In March 2023, PAYO traded between $5.83 and $6.96. ATM implied volatility averaged 64.7%, placing in the 5.1% IV rank vs the trailing year. The 30-day expected move averaged 17.5%. IV traded below realized volatility by 1.8% (HV 20d: 66.5%). Max pain ranged from $6.00 to $7.00. Net GEX was positive for 10 of 23 trading days. Term structure was in contango for 22 of 23 days. Put/call ratio averaged 8.40.

Notable Days

  • 2023-03-17: Highest Volume — 10,185 contracts
  • 2023-03-10: Largest IV spike — 59.4% change
  • 2023-03-10: Highest IV Rank — 18.1%
  • 2023-03-31: Largest Expected Move — 20.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.31$5.83$6.96$6.64$6.25
Max Pain$6.22$6.00$7.00$6.00$6.00
ATM IV64.7%52.8%94.9%64.8%72.0%
Expected Move17.5%15.1%20.6%18.6%20.6%
HV 20d66.5%54.4%73.8%61.8%55.9%
HV 60d49.2%45.9%51.3%46.0%50.9%
IV Rank5.1%0.0%18.1%5.2%8.3%
IV Percentile11.5%0.0%81.3%5.2%19.8%
Term Structure7.4%-4.7%18.3%6.9%1.0%
VWIV58.6%40.3%70.6%62.9%69.5%
Skew 25d1.6%-12.6%19.1%7.1%16.7%
Skew 10d6.5%-16.0%21.1%11.0%16.5%
Call IV 25d54.3%37.1%63.8%53.8%47.1%
Put IV 25d56.0%45.3%67.9%60.9%63.8%
Bid-Ask Spread %51.4827.18102.0336.5638.90
Gamma HHI0.250.170.360.260.24
Net GEX-319-89.0K89.6K-2.1K-14.4K
Net DEX-5.6M-9.5M-2.4M-6.6M-4.4M
Net VEX-49.0K-63.0K-37.8K-37.8K-53.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio8.400.0072.270.380.00
Total Volume1,599.304310,1857,519108
Total OI61,329.78351,39975,15951,39967,112

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$6.64$6.0064.8%18.6%61.8%5.2%62.9%7.1%6.9%-2.1K-6.6M-37.8K0.3836.56N/AN/A5,4322,08719,33932,060
2023-03-02$6.79$6.0061.7%17.7%61.7%3.8%56.3%-7.0%2.3%26.6K-7.2M-40.9K0.0827.18N/AN/A1471222,90630,515
2023-03-03$6.81$6.0065.2%18.7%61.6%5.3%65.0%1.8%-4.7%15.8K-7.6M-41.1K0.9350.62N/AN/A1,1131,03222,95530,523
2023-03-06$6.83$7.0062.1%16.1%60.2%4.0%54.6%11.6%11.0%46.8K-8.2M-42.4K0.0551.29N/AN/A3842123,90231,534
2023-03-07$6.84$7.0056.2%16.2%60.0%1.4%51.8%6.0%8.4%40.2K-8.0M-45.4K0.1137.76N/AN/A2,01422024,10331,513
2023-03-08$6.96$7.0062.2%16.4%60.1%4.0%59.4%4.2%4.2%76.7K-9.5M-44.8K5.3439.25N/AN/A3141,67826,10531,383
2023-03-09$6.76$7.0059.5%15.7%60.7%2.9%0.0%17.0%8.8%89.6K-9.0M-43.6K0.5956.25N/AN/A40424026,27830,685
2023-03-10$6.20$7.0094.9%15.3%66.5%18.1%51.2%-6.9%12.4%36.2K-6.1M-47.1K0.1467.90N/AN/A1,53021026,55030,895
2023-03-13$5.83$6.0087.2%18.4%70.5%14.8%64.4%13.8%6.4%5.0K-4.4M-49.7K2.08102.03N/AN/A5210827,88131,120
2023-03-14$6.22$6.0064.6%18.0%73.7%5.1%63.5%1.7%10.2%5.7K-5.0M-51.5K28.1697.85N/AN/A742,08427,93331,145
2023-03-15$6.14$6.0066.6%19.1%73.7%5.9%66.1%-9.1%1.3%14.2K-5.7M-47.6K1.0381.34N/AN/A19119627,95630,392
2023-03-16$6.17$6.0066.3%19.0%71.9%5.8%63.5%19.1%5.5%-2.6K-5.9M-48.3K0.0492.07N/AN/A129528,13430,559
2023-03-17$6.04$6.0063.7%18.3%70.8%4.7%61.0%8.2%5.8%-89.0K-5.1M-45.6K72.2744.89N/AN/A13910,04628,23230,563
2023-03-20$6.03$6.0060.1%17.2%70.8%3.1%54.7%11.0%18.3%-74.3K-2.4M-63.0K0.2138.18N/AN/A661426,55148,538
2023-03-21$6.33$6.0053.1%15.2%72.6%0.1%56.4%-2.8%14.4%-84.1K-4.3M-59.7K0.0033.97N/AN/A117026,61548,544
2023-03-22$6.11$6.0062.1%17.8%73.8%4.0%65.0%-12.6%6.2%-8.0K-4.7M-53.5K0.0361.15N/AN/A98326,69538,544
2023-03-23$6.13$6.0065.2%18.7%73.4%5.3%40.3%-2.8%4.2%-3.5K-4.8M-54.4K0.0051.37N/AN/A3026,69038,548
2023-03-24$6.03$6.0060.3%17.3%73.2%3.2%41.9%-11.1%15.0%-20.5K-3.5M-52.7K0.0338.90N/AN/A35126,69038,548
2023-03-27$6.08$6.0059.2%17.0%72.8%2.7%59.4%-6.6%8.3%-7.5K-4.0M-51.7K0.0036.68N/AN/A21026,69538,548
2023-03-28$5.89$6.0069.4%19.9%73.8%7.1%70.6%-8.3%0.3%-15.8K-3.7M-52.2K18.1035.32N/AN/A1242,24426,71438,548
2023-03-29$5.96$6.0058.1%16.6%54.4%2.2%59.3%-12.6%11.9%-28.9K-3.4M-51.4K1.0929.42N/AN/A111226,83439,081
2023-03-30$6.19$6.0052.8%15.1%55.7%0.0%52.6%-1.0%11.8%-13.2K-4.7M-48.8K62.5235.11N/AN/A644,00126,83739,092
2023-03-31$6.25$6.0072.0%20.6%55.9%8.3%69.5%16.7%1.0%-14.4K-4.4M-53.9K0.0038.90N/AN/A108026,84940,263