PCH Options History — September 2019

In September 2019, PCH traded between $38.19 and $42.24. ATM implied volatility averaged 24.9%, placing in the 15.2% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded below realized volatility by 0.3% (HV 20d: 25.2%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.22.

Notable Days

2019-09-17: Highest Volume — 50 contracts
2019-09-09: Largest IV spike — 18.5% change
2019-09-17: Highest IV Rank — 20.0%
2019-09-17: Largest Expected Move — 7.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.70	$38.19	$42.24	$38.24	$41.17
Max Pain	$38.00	$35.00	$40.00	$35.00	$40.00
ATM IV	24.9%	21.7%	27.7%	25.8%	24.0%
Expected Move	7.2%	6.2%	7.9%	7.4%	6.9%
HV 20d	25.2%	21.2%	28.0%	27.1%	21.2%
HV 60d	26.6%	25.7%	28.2%	27.0%	25.8%
IV Rank	15.2%	10.0%	20.0%	16.7%	13.8%
IV Percentile	35.9%	13.1%	60.7%	44.0%	25.0%
Term Structure	2.8%	-2.4%	9.5%	-0.7%	6.0%
VWIV	23.5%	15.1%	29.7%	29.7%	15.1%
Skew 25d	5.7%	0.7%	8.6%	7.5%	5.1%
Skew 10d	9.6%	-0.9%	15.4%	8.3%	7.4%
Call IV 25d	21.9%	16.5%	30.0%	27.9%	19.4%
Put IV 25d	27.6%	24.1%	35.4%	35.4%	24.6%
Bid-Ask Spread %	80.92	65.06	100.88	75.74	72.49
Gamma HHI	0.52	0.44	0.66	0.55	0.45
Net GEX	26.2K	16.9K	33.0K	16.9K	28.7K
Net DEX	-407.8K	-691.9K	-189.3K	-189.4K	-446.4K
Net VEX	-1.8K	-2.0K	-1.6K	-1.6K	-1.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.22	0.00	1.00	0.08	1.00
Total Volume	9.55	0	50	14	0
Total OI	347.85	316	375	316	363

Daily Data (20 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
2019-09-03	$38.24	$35.00	25.8%	7.4%	27.1%	16.7%	29.7%	7.5%	-0.7%	16.9K	-189.4K	-1.6K	0.08	75.74	N/A	N/A	13	1	219	97
2019-09-04	$38.19	$35.00	25.2%	7.2%	26.9%	15.8%	0.0%	4.6%	-2.4%	17.4K	-189.3K	-1.6K	0.00	79.79	N/A	N/A	0	0	229	98
2019-09-05	$38.77	$35.00	22.2%	7.2%	25.3%	10.7%	0.0%	7.0%	1.9%	22.4K	-228.4K	-1.7K	0.00	97.30	N/A	N/A	0	0	229	98
2019-09-06	$39.14	$35.00	22.2%	7.1%	25.4%	10.7%	0.0%	6.8%	1.1%	25.3K	-258.2K	-1.6K	0.00	97.79	N/A	N/A	3	0	229	98
2019-09-09	$39.59	$35.00	26.3%	7.8%	24.8%	17.5%	0.0%	7.8%	1.2%	28.8K	-303.7K	-1.7K	0.00	98.50	N/A	N/A	1	0	232	98
2019-09-10	$40.03	$35.00	26.0%	7.4%	24.3%	17.0%	0.0%	8.6%	1.4%	33.0K	-350.3K	-1.7K	0.00	100.88	N/A	N/A	13	0	233	98
2019-09-11	$41.80	$35.00	25.2%	7.2%	28.0%	15.7%	25.1%	5.3%	2.5%	30.7K	-565.4K	-1.8K	0.00	97.19	N/A	N/A	34	0	243	98
2019-09-12	$42.24	$35.00	21.7%	6.2%	26.4%	10.0%	25.3%	2.6%	9.5%	28.3K	-691.9K	-1.8K	0.00	85.31	N/A	N/A	0	4	258	98
2019-09-13	$41.64	$40.00	24.0%	6.9%	27.5%	13.7%	22.3%	4.5%	5.8%	30.7K	-636.2K	-1.8K	0.91	75.49	N/A	N/A	11	10	258	101
2019-09-16	$41.69	$40.00	26.1%	7.5%	26.8%	17.2%	21.5%	5.6%	2.8%	19.3K	-406.0K	-1.8K	0.00	89.46	N/A	N/A	20	0	205	111
2019-09-17	$41.74	$40.00	27.7%	7.9%	26.7%	20.0%	0.0%	6.0%	1.4%	22.5K	-422.7K	-1.9K	0.67	67.91	N/A	N/A	30	20	225	111
2019-09-18	$41.51	$40.00	26.4%	7.6%	26.0%	17.7%	26.1%	6.4%	3.1%	25.3K	-428.1K	-2.0K	0.00	79.01	N/A	N/A	1	0	255	119
2019-09-19	$41.48	$40.00	23.6%	6.8%	26.0%	13.1%	22.9%	1.9%	4.8%	25.9K	-429.4K	-2.0K	0.00	72.71	N/A	N/A	0	1	256	119
2019-09-20	$40.99	$40.00	26.1%	7.5%	26.6%	17.3%	0.0%	0.7%	1.0%	25.6K	-391.7K	-1.9K	0.00	79.57	N/A	N/A	0	0	256	119
2019-09-23	$41.27	$40.00	26.5%	7.6%	23.6%	17.8%	0.0%	8.5%	2.2%	26.7K	-435.6K	-1.8K	0.00	79.77	N/A	N/A	21	0	256	89
2019-09-24	$40.84	$40.00	25.6%	7.3%	24.2%	16.5%	0.0%	4.9%	2.1%	28.0K	-418.9K	-1.9K	0.00	66.31	N/A	N/A	0	1	276	89
2019-09-25	$41.41	$40.00	22.5%	6.5%	23.9%	11.2%	15.1%	7.7%	6.1%	30.5K	-471.0K	-1.9K	0.00	71.43	N/A	N/A	4	0	276	90
2019-09-26	$41.44	$40.00	25.9%	7.4%	21.4%	16.9%	0.0%	8.5%	2.4%	30.2K	-476.8K	-1.9K	0.00	66.70	N/A	N/A	0	1	274	90
2019-09-27	$40.84	$40.00	24.6%	7.1%	21.4%	14.8%	0.0%	4.2%	4.0%	27.7K	-415.9K	-1.8K	1.00	65.06	N/A	N/A	1	1	274	90
2019-09-30	$41.17	$40.00	24.0%	6.9%	21.2%	13.8%	0.0%	5.1%	6.0%	28.7K	-446.4K	-1.8K	0.00	72.49	N/A	N/A	0	0	273	90