PCH Options History — February 2022

In February 2022, PCH traded between $51.80 and $56.22. ATM implied volatility averaged 24.3%, placing in the 25.3% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded below realized volatility by 6.3% (HV 20d: 30.6%). Max pain ranged from $50.00 to $55.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 14 of 19 days. Put/call ratio averaged 0.39.

Notable Days

2022-02-01: Highest Volume — 638 contracts
2022-02-02: Largest IV drop — 27.7% change
2022-02-23: Highest IV Rank — 39.7%
2022-02-23: Largest Expected Move — 8.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$53.96	$51.80	$56.22	$52.41	$54.84
Max Pain	$53.00	$50.00	$55.00	$51.00	$55.00
ATM IV	24.3%	20.7%	29.3%	29.1%	28.7%
Expected Move	6.9%	5.9%	8.4%	8.3%	8.2%
HV 20d	30.6%	26.7%	33.7%	30.9%	29.7%
HV 60d	33.1%	31.7%	34.3%	31.7%	34.3%
IV Rank	25.3%	15.0%	39.7%	39.2%	38.3%
IV Percentile	26.5%	7.5%	61.9%	54.0%	58.7%
Term Structure	0.9%	-2.1%	2.9%	1.4%	-2.1%
VWIV	25.9%	22.0%	30.7%	30.7%	29.3%
Skew 25d	4.3%	-0.5%	8.5%	-0.5%	5.2%
Skew 10d	10.6%	3.4%	27.6%	18.5%	7.8%
Call IV 25d	24.4%	19.7%	33.2%	33.2%	28.7%
Put IV 25d	28.8%	24.1%	33.8%	32.8%	33.8%
Bid-Ask Spread %	89.81	80.83	97.97	86.73	89.61
Gamma HHI	0.34	0.15	0.58	0.31	0.20
Net GEX	160.6K	35.6K	356.8K	136.7K	64.7K
Net DEX	-1.5M	-3.4M	-597.0K	-1.2M	-1.3M
Net VEX	-6.0K	-7.4K	-4.3K	-7.4K	-6.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.39	0.22	0.56	0.22	0.31
Total Volume	308.263	205	638	638	256
Total OI	1,525.842	843	1,849	1,849	945

Daily Data (19 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
2022-02-01	$52.41	$51.00	29.1%	8.3%	30.9%	39.2%	30.7%	-0.5%	1.4%	136.7K	-1.2M	-7.4K	0.22	86.73	N/A	N/A	525	113	1,425	424
2022-02-02	$53.49	$51.00	21.0%	6.0%	32.1%	15.9%	25.8%	8.5%	0.9%	163.4K	-1.6M	-7.4K	0.47	91.34	N/A	N/A	247	115	1,358	429
2022-02-03	$53.03	$50.00	24.1%	7.3%	30.7%	24.9%	29.6%	4.4%	0.6%	144.4K	-1.4M	-7.3K	0.48	80.83	N/A	N/A	210	101	1,368	417
2022-02-04	$53.29	$50.00	23.6%	7.0%	30.7%	23.2%	29.7%	4.3%	1.3%	150.1K	-1.4M	-7.0K	0.46	83.78	N/A	N/A	183	84	1,360	418
2022-02-07	$53.00	$50.00	28.7%	6.9%	30.6%	38.1%	25.6%	4.1%	2.7%	128.1K	-1.2M	-6.2K	0.36	85.88	N/A	N/A	206	75	1,356	420
2022-02-08	$54.72	$50.00	22.2%	6.6%	32.9%	19.3%	23.3%	5.9%	1.8%	255.2K	-2.2M	-7.1K	0.34	89.44	N/A	N/A	228	77	1,368	420
2022-02-09	$56.22	$50.00	21.7%	6.2%	32.9%	17.8%	22.0%	4.4%	1.7%	332.5K	-3.4M	-7.2K	0.27	86.91	N/A	N/A	337	92	1,370	418
2022-02-10	$54.87	$50.00	22.8%	6.5%	33.7%	20.9%	23.2%	4.1%	0.8%	254.2K	-2.2M	-6.2K	0.41	90.15	N/A	N/A	237	96	1,302	398
2022-02-11	$54.30	$55.00	24.5%	7.0%	33.5%	25.9%	25.1%	4.0%	2.0%	195.3K	-1.7M	-6.0K	0.56	89.58	N/A	N/A	174	97	1,307	410
2022-02-14	$54.00	$55.00	24.8%	7.1%	31.3%	26.7%	25.4%	5.3%	1.0%	167.7K	-1.5M	-5.4K	0.51	91.87	N/A	N/A	177	90	1,302	408
2022-02-15	$55.18	$55.00	21.8%	6.3%	29.9%	18.3%	22.6%	2.9%	2.5%	356.8K	-2.1M	-5.5K	0.48	97.97	N/A	N/A	187	90	1,303	412
2022-02-16	$55.07	$55.00	21.9%	6.3%	29.8%	18.6%	23.1%	2.2%	2.1%	307.2K	-1.9M	-5.4K	0.46	96.72	N/A	N/A	181	84	1,304	411
2022-02-17	$53.88	$55.00	20.7%	5.9%	29.4%	15.0%	22.3%	4.3%	2.9%	153.7K	-1.4M	-4.9K	0.40	92.86	N/A	N/A	213	85	1,305	410
2022-02-18	$53.74	$55.00	21.5%	6.2%	28.1%	17.2%	25.0%	3.3%	1.4%	49.2K	-1.1M	-4.8K	0.25	94.11	N/A	N/A	294	73	1,314	408
2022-02-22	$53.40	$55.00	24.2%	6.9%	26.7%	25.0%	25.1%	4.8%	-0.3%	47.9K	-914.8K	-5.0K	0.31	90.42	N/A	N/A	177	55	689	154
2022-02-23	$51.80	$55.00	29.3%	8.4%	28.6%	39.7%	27.2%	5.4%	-2.0%	35.6K	-597.0K	-4.3K	0.37	86.43	N/A	N/A	163	60	704	164
2022-02-24	$53.23	$55.00	25.5%	7.3%	28.7%	28.8%	27.2%	5.7%	-1.0%	44.8K	-825.9K	-4.9K	0.26	93.44	N/A	N/A	214	56	703	168
2022-02-25	$54.86	$55.00	24.9%	7.1%	30.5%	27.2%	29.8%	4.0%	-0.8%	64.3K	-1.2M	-5.9K	0.41	88.23	N/A	N/A	145	60	751	168
2022-02-28	$54.84	$55.00	28.7%	8.2%	29.7%	38.3%	29.3%	5.2%	-2.1%	64.7K	-1.3M	-6.3K	0.31	89.61	N/A	N/A	195	61	770	175