PAYO Options History — September 2023

In September 2023, PAYO traded between $5.88 and $6.38. ATM implied volatility averaged 46.4%, placing in the 6.2% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded above realized volatility by 18.4% (HV 20d: 28.1%). Max pain ranged from $5.00 to $6.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 0.28.

Notable Days

  • 2023-09-21: Highest Volume — 3,276 contracts
  • 2023-09-08: Largest IV spike — 102.2% change
  • 2023-09-12: Highest IV Rank — 18.6%
  • 2023-09-21: Largest Expected Move — 15.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.13$5.88$6.38$6.25$6.11
Max Pain$5.95$5.00$6.00$6.00$6.00
ATM IV46.4%30.4%77.7%32.1%44.0%
Expected Move12.9%9.2%15.7%9.2%12.6%
HV 20d28.1%22.2%41.9%41.2%31.1%
HV 60d36.5%35.6%37.7%36.2%36.7%
IV Rank6.2%0.0%18.6%0.0%5.3%
IV Percentile11.0%0.0%66.3%0.0%7.1%
Term Structure8.8%-3.8%18.9%15.1%-1.5%
VWIV43.5%32.8%53.5%32.8%40.2%
Skew 25d4.8%-10.3%49.1%5.3%-0.4%
Skew 10d5.7%-11.0%112.9%19.7%0.0%
Call IV 25d37.3%28.0%50.0%28.0%35.6%
Put IV 25d42.1%31.8%90.7%33.3%35.2%
Bid-Ask Spread %48.2727.6196.9048.4045.90
Gamma HHI0.210.180.260.260.20
Net GEX59.3K6.0K92.9K62.3K51.5K
Net DEX-19.8M-21.4M-17.8M-20.1M-19.9M
Net VEX-28.4K-35.5K-23.0K-24.7K-26.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.280.002.740.170.00
Total Volume417.2563,27676
Total OI69,595.966,69770,86766,69770,867

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-09-01$6.25$6.0032.1%9.2%41.2%0.0%32.8%5.3%15.1%62.3K-20.1M-24.7K0.1748.40N/AN/A6142,93723,760
2023-09-05$6.17$5.0047.6%13.9%41.9%6.1%38.9%4.1%0.1%56.4K-19.4M-29.9K0.0036.57N/AN/A2,849542,93923,761
2023-09-06$6.19$6.0042.8%12.1%25.1%4.2%40.5%-0.7%17.3%75.7K-20.0M-32.4K0.1059.53N/AN/A2512645,74123,766
2023-09-07$6.28$6.0030.4%11.9%23.7%0.0%41.6%49.1%11.6%18.9K-20.8M-24.6K0.0933.77N/AN/A22245,96123,782
2023-09-08$6.21$6.0061.5%13.1%22.4%12.2%33.0%10.5%18.9%79.2K-20.0M-33.4K0.0070.25N/AN/A20045,97323,784
2023-09-11$6.38$6.0043.1%13.3%23.2%5.0%42.3%3.4%15.7%92.9K-21.1M-29.9K0.1827.61N/AN/A921745,97123,784
2023-09-12$6.33$6.0077.7%14.8%22.2%18.6%47.1%9.2%-3.8%68.6K-21.4M-28.1K0.1437.72N/AN/A37546,04623,794
2023-09-13$6.12$6.0044.2%12.7%25.9%5.4%0.0%14.0%7.9%60.8K-20.1M-27.9K0.1042.68N/AN/A10146,08023,799
2023-09-14$6.13$6.0048.0%13.8%25.6%6.9%0.0%16.5%0.8%62.3K-19.7M-29.3K0.0048.49N/AN/A181046,08723,800
2023-09-15$6.17$6.0046.4%13.3%25.4%6.3%46.4%8.2%-1.1%71.3K-20.1M-29.7K0.0057.78N/AN/A54046,23723,800
2023-09-18$6.04$6.0042.2%12.1%24.6%4.6%39.3%-4.7%16.9%69.8K-18.9M-30.4K0.0360.21N/AN/A72245,39923,756
2023-09-19$6.01$6.0037.6%10.8%24.6%2.8%37.6%3.0%16.7%61.3K-19.1M-29.0K0.0137.47N/AN/A150245,42523,758
2023-09-20$5.88$6.0050.9%14.6%24.9%8.1%51.2%-10.3%12.5%70.9K-17.8M-35.5K0.0058.25N/AN/A42045,52023,760
2023-09-21$6.13$6.0054.9%15.7%28.4%9.6%52.9%-8.9%0.7%23.3K-20.0M-24.3K2.7433.20N/AN/A8762,40045,55623,760
2023-09-22$6.06$6.0052.1%14.9%28.1%8.5%53.5%-0.4%0.9%65.2K-19.4M-29.4K0.0196.90N/AN/A294446,39124,160
2023-09-25$6.14$6.0044.0%12.6%28.4%5.3%43.6%2.9%10.2%75.5K-19.8M-25.9K0.0538.76N/AN/A37246,20124,156
2023-09-26$5.92$6.0042.8%12.3%31.4%4.9%52.3%-7.9%8.7%55.5K-19.1M-26.9K0.0355.44N/AN/A317846,20824,157
2023-09-27$6.03$6.0045.6%13.1%32.1%6.0%45.7%-2.7%13.5%6.0K-19.4M-23.0K1.5044.07N/AN/A4646,35524,165
2023-09-28$6.08$6.0040.7%11.7%31.3%4.0%40.2%5.0%15.1%58.3K-19.3M-27.1K0.4432.45N/AN/A37816646,35524,167
2023-09-29$6.11$6.0044.0%12.6%31.1%5.3%0.0%-0.4%-1.5%51.5K-19.9M-26.4K0.0045.90N/AN/A6046,63324,234