PCH Options History — December 2023

In December 2023, PCH traded between $44.20 and $49.51. ATM implied volatility averaged 24.4%, placing in the 12.7% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded below realized volatility by 3.3% (HV 20d: 27.7%). Max pain ranged from $45.00 to $45.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.33.

Notable Days

2023-12-26: Highest Volume — 71 contracts
2023-12-04: Largest IV spike — 106.2% change
2023-12-04: Highest IV Rank — 43.7%
2023-12-04: Largest Expected Move — 8.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$47.17	$44.20	$49.51	$45.99	$49.23
Max Pain	$45.00	$45.00	$45.00	$45.00	$45.00
ATM IV	24.4%	20.0%	42.6%	20.7%	22.1%
Expected Move	6.4%	5.7%	8.8%	5.9%	6.3%
HV 20d	27.7%	20.2%	32.8%	32.8%	27.2%
HV 60d	28.2%	26.3%	29.7%	26.7%	29.5%
IV Rank	12.7%	5.1%	43.7%	6.3%	8.8%
IV Percentile	20.6%	2.4%	79.8%	2.8%	12.3%
Term Structure	3.4%	-4.2%	11.8%	11.8%	3.4%
VWIV	21.6%	19.9%	25.0%	20.2%	22.5%
Skew 25d	5.9%	2.1%	16.7%	9.7%	4.3%
Skew 10d	10.2%	1.6%	37.6%	37.6%	6.9%
Call IV 25d	19.4%	13.7%	22.6%	22.6%	20.6%
Put IV 25d	25.3%	22.7%	32.3%	32.3%	24.9%
Bid-Ask Spread %	78.29	31.42	110.41	110.41	73.89
Gamma HHI	0.55	0.39	0.66	0.45	0.62
Net GEX	34.2K	10.1K	73.4K	23.9K	73.4K
Net DEX	-402.3K	-852.2K	-41.9K	-222.0K	-832.5K
Net VEX	-2.3K	-3.8K	-1.2K	-1.8K	-3.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.33	0.00	3.33	0.00	0.00
Total Volume	17.2	0	71	1	2
Total OI	348.35	272	498	304	498

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
2023-12-01	$45.99	$45.00	20.7%	5.9%	32.8%	6.3%	0.0%	9.7%	11.8%	23.9K	-222.0K	-1.8K	0.00	110.41	N/A	N/A	1	0	262	42
2023-12-04	$45.70	$45.00	42.6%	8.8%	28.9%	43.7%	0.0%	16.7%	-4.2%	22.9K	-239.6K	-1.8K	0.00	95.46	N/A	N/A	0	2	261	42
2023-12-05	$45.71	$45.00	27.6%	6.5%	28.5%	18.1%	0.0%	4.7%	2.4%	23.7K	-190.7K	-1.6K	0.00	81.35	N/A	N/A	5	0	261	41
2023-12-06	$45.39	$45.00	26.8%	6.4%	28.4%	16.7%	20.2%	4.3%	2.8%	23.0K	-170.1K	-1.5K	3.33	91.59	N/A	N/A	3	10	262	41
2023-12-07	$44.81	$45.00	27.1%	6.3%	27.8%	17.2%	0.0%	7.4%	2.4%	16.4K	-118.3K	-1.5K	0.00	95.13	N/A	N/A	0	0	265	51
2023-12-08	$44.96	$45.00	25.2%	6.2%	27.5%	14.1%	0.0%	8.0%	2.6%	17.4K	-127.4K	-1.5K	0.00	97.02	N/A	N/A	10	0	265	51
2023-12-11	$45.12	$45.00	29.1%	6.1%	26.6%	20.7%	0.0%	2.1%	2.8%	13.6K	-122.4K	-1.4K	0.50	91.29	N/A	N/A	2	1	258	51
2023-12-12	$44.20	$45.00	23.8%	6.0%	27.5%	11.7%	20.9%	5.1%	2.7%	10.1K	-41.9K	-1.2K	0.00	95.72	N/A	N/A	0	1	260	52
2023-12-13	$45.87	$45.00	21.1%	6.0%	20.2%	7.0%	21.1%	3.2%	9.8%	16.5K	-239.1K	-1.7K	0.33	94.43	N/A	N/A	3	1	260	53
2023-12-14	$47.93	$45.00	20.0%	5.7%	25.7%	5.1%	19.9%	3.4%	2.5%	33.6K	-334.0K	-1.9K	0.22	94.29	N/A	N/A	18	4	251	52
2023-12-15	$46.76	$45.00	23.7%	6.8%	27.3%	11.4%	20.5%	2.6%	2.8%	23.4K	-261.7K	-1.9K	0.00	93.18	N/A	N/A	4	0	265	53
2023-12-18	$47.20	$45.00	24.5%	7.0%	27.5%	12.7%	21.3%	2.7%	1.5%	25.6K	-296.6K	-1.9K	0.00	93.92	N/A	N/A	41	0	231	41
2023-12-19	$48.50	$45.00	21.2%	6.1%	29.1%	7.2%	22.0%	4.4%	2.8%	35.8K	-485.0K	-2.5K	0.03	75.44	N/A	N/A	36	1	270	41
2023-12-20	$49.32	$45.00	22.0%	6.3%	29.4%	8.6%	22.0%	7.0%	3.4%	41.2K	-639.4K	-2.9K	0.00	70.69	N/A	N/A	52	0	300	42
2023-12-21	$49.15	$45.00	21.5%	6.2%	29.1%	7.7%	21.5%	6.6%	3.7%	46.0K	-644.8K	-3.1K	0.16	51.67	N/A	N/A	25	4	338	42
2023-12-22	$49.34	$45.00	22.4%	6.4%	29.1%	9.2%	25.0%	6.3%	3.2%	47.6K	-686.2K	-3.2K	0.83	54.87	N/A	N/A	12	10	350	42
2023-12-26	$49.37	$45.00	22.4%	6.4%	28.0%	9.3%	22.4%	6.2%	3.2%	49.6K	-704.3K	-3.3K	0.00	40.87	N/A	N/A	71	0	367	44
2023-12-27	$49.31	$45.00	22.1%	6.3%	27.1%	8.7%	0.0%	6.2%	3.7%	70.4K	-838.2K	-3.7K	0.00	31.42	N/A	N/A	6	0	438	44
2023-12-28	$49.51	$45.00	22.5%	6.5%	27.0%	9.5%	22.5%	6.4%	3.8%	70.9K	-852.2K	-3.7K	0.12	33.08	N/A	N/A	17	2	436	44
2023-12-29	$49.23	$45.00	22.1%	6.3%	27.2%	8.8%	0.0%	4.3%	3.4%	73.4K	-832.5K	-3.8K	0.00	73.89	N/A	N/A	2	0	452	46