PCEF Options History — December 2023

In December 2023, PCEF traded between $17.59 and $18.11. ATM implied volatility averaged 41.8%, placing in the 31.9% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded above realized volatility by 32.7% (HV 20d: 9.1%). Max pain ranged from $18.00 to $18.00. Net GEX was positive for 3 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.50.

Notable Days

  • 2023-12-01: Highest Volume — 3 contracts
  • 2023-12-06: Largest IV spike — 89.7% change
  • 2023-12-11: Highest IV Rank — 100.0%
  • 2023-12-13: Largest Expected Move — 19.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.85$17.59$18.11$17.73$17.99
Max Pain$18.00$18.00$18.00$18.00$18.00
ATM IV41.8%12.2%145.2%37.5%25.4%
Expected Move8.4%3.5%19.1%10.7%7.3%
HV 20d9.1%7.5%10.2%10.2%9.5%
HV 60d12.2%11.6%12.6%12.1%11.6%
IV Rank31.9%3.4%100.0%39.3%13.0%
IV Percentile53.7%4.4%100.0%76.2%35.7%
Term Structure-11.3%-25.5%18.3%-16.0%-8.8%
VWIV16.9%5.8%28.0%5.8%28.0%
Skew 25d23.3%-40.1%122.0%-40.1%122.0%
Skew 10d32.6%-43.1%136.2%-43.1%136.2%
Call IV 25d30.7%9.4%52.3%52.3%47.8%
Put IV 25d54.0%7.6%169.9%12.2%169.9%
Bid-Ask Spread %164.92124.76180.52150.94177.21
Gamma HHI0.520.420.770.550.47
Net GEX-653-2.4K4.3K-622-1.9K
Net DEX7.0K-19.5K14.8K3.3K11.4K
Net VEX-111-129-79-121-79
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.001.000.001.00
Total Volume0.50330
Total OI45.534575036

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-12-01$17.73$18.0037.5%10.7%10.2%39.3%0.0%-40.1%-16.0%-6223.3K-1210.00150.94N/AN/A032129
2023-12-04$17.66$0.0042.2%9.0%10.0%45.5%0.0%1.6%-19.9%-1.2K6.1K-1250.00173.43N/AN/A002132
2023-12-05$17.66$0.0022.1%8.3%9.2%19.2%0.0%-5.9%-14.0%5066.9K-1120.00124.76N/AN/A102132
2023-12-06$17.59$0.0042.0%9.3%9.4%45.2%0.0%-1.4%-21.5%-5157.1K-1230.00172.26N/AN/A002232
2023-12-07$17.70$0.0049.5%9.3%9.5%55.1%0.0%1.6%-20.5%-5254.9K-1270.00173.43N/AN/A002232
2023-12-08$17.66$0.0068.3%9.4%8.3%79.7%0.0%1.5%-20.0%-4385.5K-1270.00172.83N/AN/A012232
2023-12-11$17.63$0.00125.8%12.4%8.4%100.0%0.0%7.5%-21.1%-2567.5K-1290.00175.79N/AN/A002233
2023-12-12$17.64$0.00145.2%12.6%8.4%100.0%0.0%30.9%-22.1%-5986.6K-1220.00176.64N/AN/A002233
2023-12-13$17.91$0.0066.5%19.1%7.5%42.9%0.0%53.6%-19.6%-7042.4K-1230.00177.73N/AN/A002233
2023-12-14$18.11$0.0012.2%3.5%8.2%3.4%5.8%89.0%18.3%3.9K-6.9K-1081.00173.31N/AN/A112233
2023-12-15$18.11$18.0016.3%4.7%8.2%6.4%0.0%88.9%10.5%4.3K-19.5K-1050.00180.52N/AN/A002334
2023-12-18$17.96$18.0021.2%6.1%9.0%9.9%0.0%33.6%-5.6%-1.7K11.6K-960.00173.38N/AN/A00529
2023-12-19$17.98$18.0022.1%6.3%8.9%10.6%0.0%-2.3%-5.5%-1.7K12.2K-1040.00154.83N/AN/A00529
2023-12-20$17.84$18.0021.3%6.1%9.5%10.0%28.0%113.4%-4.7%-1.8K14.1K-1060.00175.67N/AN/A01529
2023-12-21$17.91$18.0022.3%6.4%9.5%10.7%0.0%-11.9%-6.9%-1.9K14.8K-1080.00169.35N/AN/A00530
2023-12-22$17.95$18.0023.3%6.7%9.5%11.4%0.0%-16.3%-7.4%-2.0K13.9K-1060.00163.31N/AN/A01530
2023-12-26$18.02$18.0024.4%7.0%9.5%12.2%0.0%1.2%-25.5%-1.9K13.7K-1050.00155.61N/AN/A00531
2023-12-27$18.01$18.0023.0%6.6%9.5%11.2%0.0%-2.2%-6.2%-2.4K10.8K-930.00138.45N/AN/A01530
2023-12-28$18.01$18.0025.5%7.3%9.5%13.0%0.0%1.0%-8.6%-1.7K12.5K-950.00138.93N/AN/A00531
2023-12-29$17.99$18.0025.4%7.3%9.5%13.0%0.0%122.0%-8.8%-1.9K11.4K-790.00177.21N/AN/A00531