PYPL Options History — May 2020

In May 2020, PYPL traded between $120.67 and $154.63. ATM implied volatility averaged 35.8%, placing in the 23.6% IV rank vs the trailing year. The 30-day expected move averaged 10.3%. IV traded below realized volatility by 20.8% (HV 20d: 56.5%). Max pain ranged from $110.00 to $125.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.65.

Notable Days

2020-05-07: Highest Volume — 229,608 contracts
2020-05-07: Largest IV drop — 12.7% change
2020-05-01: Highest IV Rank — 35.0%
2020-05-01: Largest Expected Move — 14.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$142.31	$120.67	$154.63	$120.67	$154.63
Max Pain	$117.75	$110.00	$125.00	$110.00	$125.00
ATM IV	35.8%	32.0%	43.9%	43.9%	32.0%
Expected Move	10.3%	9.0%	14.0%	14.0%	9.4%
HV 20d	56.5%	45.0%	62.1%	57.1%	51.7%
HV 60d	72.8%	69.2%	74.4%	69.2%	72.4%
IV Rank	23.6%	18.4%	35.0%	35.0%	18.4%
IV Percentile	76.2%	67.1%	85.3%	85.3%	67.1%
Term Structure	-0.2%	-1.4%	1.5%	-1.4%	-0.1%
VWIV	36.8%	32.1%	49.0%	49.0%	33.7%
Skew 25d	6.3%	3.8%	11.1%	11.1%	7.7%
Skew 10d	12.7%	8.5%	22.6%	22.6%	14.7%
Call IV 25d	33.3%	28.8%	39.5%	38.9%	29.1%
Put IV 25d	39.6%	34.3%	50.0%	50.0%	36.8%
Bid-Ask Spread %	9.56	3.44	21.51	4.46	5.36
Gamma HHI	0.12	0.07	0.31	0.07	0.15
Net GEX	35.4M	12.3M	67.6M	12.3M	50.5M
Net DEX	-1.70B	-2.64B	-765.0M	-765.0M	-2.14B
Net VEX	-7.1M	-7.5M	-6.6M	-7.4M	-6.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.65	0.30	0.99	0.99	0.49
Total Volume	62,154.6	25,296	229,608	32,036	53,143
Total OI	530,091.75	469,012	605,201	487,409	540,977

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 Vol	Put Vol	Call OI	Put OI
2020-05-01	$120.67	$110.00	43.9%	14.0%	57.1%	35.0%	49.0%	11.1%	-1.4%	12.3M	-765.0M	-7.4M	0.99	4.46	16,103	15,933	202,231	285,178
2020-05-04	$123.88	$110.00	43.7%	12.1%	55.9%	34.8%	45.7%	10.3%	-1.4%	18.4M	-891.9M	-7.3M	0.60	6.35	23,375	14,131	190,284	278,728
2020-05-05	$125.04	$110.00	41.5%	11.8%	45.0%	31.7%	40.0%	8.0%	-0.5%	23.1M	-1.01B	-7.3M	0.70	6.21	38,777	27,062	202,276	291,345
2020-05-06	$128.18	$110.00	42.6%	11.7%	45.2%	33.2%	41.6%	7.5%	-0.8%	23.2M	-1.18B	-7.4M	0.52	9.89	85,509	44,737	207,633	305,834
2020-05-07	$145.93	$110.00	37.1%	10.4%	61.6%	25.6%	37.4%	5.8%	-1.1%	41.6M	-2.64B	-6.6M	0.56	6.14	147,099	82,509	243,476	333,652
2020-05-08	$145.33	$115.00	33.1%	9.5%	62.1%	20.0%	33.7%	5.1%	-0.0%	49.2M	-2.43B	-6.8M	0.76	13.73	44,616	34,084	245,892	359,309
2020-05-11	$144.26	$115.00	32.8%	9.3%	62.0%	19.5%	34.9%	5.1%	-0.2%	32.1M	-2.00B	-6.7M	0.68	18.09	30,454	20,668	223,853	320,017
2020-05-12	$141.83	$115.00	32.8%	9.7%	61.8%	19.5%	35.5%	5.4%	1.5%	27.0M	-1.80B	-7.0M	0.72	13.59	27,118	19,549	230,069	329,278
2020-05-13	$142.65	$115.00	36.5%	10.5%	60.9%	24.6%	39.1%	6.3%	0.2%	27.1M	-1.82B	-7.5M	0.92	19.12	28,265	26,032	235,490	332,071
2020-05-14	$143.62	$120.00	37.7%	10.7%	60.6%	26.3%	39.3%	6.0%	0.0%	29.8M	-1.89B	-7.5M	0.55	21.45	31,109	17,211	238,005	338,645
2020-05-15	$145.04	$120.00	36.7%	10.5%	60.4%	24.9%	36.9%	6.5%	0.4%	67.6M	-2.05B	-7.3M	0.65	21.51	29,093	18,842	242,197	341,881
2020-05-18	$147.29	$120.00	35.2%	10.1%	60.4%	22.8%	35.8%	5.2%	-0.4%	28.3M	-1.59B	-7.0M	0.35	9.36	36,081	12,678	191,536	287,607
2020-05-19	$146.62	$120.00	34.6%	9.9%	57.9%	22.0%	33.6%	4.5%	-0.1%	34.5M	-1.62B	-7.1M	0.30	7.45	35,806	10,812	203,955	292,166
2020-05-20	$150.69	$120.00	33.1%	9.5%	55.1%	20.0%	35.4%	3.8%	0.6%	42.9M	-1.91B	-7.0M	0.54	4.65	35,419	19,135	214,685	295,248
2020-05-21	$148.56	$120.00	32.8%	9.4%	55.8%	19.4%	34.4%	4.4%	0.7%	37.0M	-1.74B	-6.9M	0.88	5.19	13,436	11,860	217,098	302,563
2020-05-22	$150.40	$125.00	32.1%	9.1%	55.0%	18.5%	32.4%	4.4%	1.1%	60.2M	-1.89B	-7.1M	0.56	4.97	23,222	13,046	219,575	305,246
2020-05-26	$146.54	$125.00	32.7%	9.1%	56.5%	19.3%	32.1%	7.8%	-0.0%	28.7M	-1.49B	-6.9M	0.81	5.78	25,697	20,809	210,672	295,255
2020-05-27	$146.16	$125.00	32.1%	9.0%	54.3%	18.6%	33.2%	7.3%	-0.4%	29.7M	-1.45B	-7.0M	0.82	3.44	26,314	21,664	218,962	298,438
2020-05-28	$148.92	$125.00	32.1%	9.3%	51.2%	18.5%	32.9%	4.3%	-1.0%	44.9M	-1.72B	-7.2M	0.59	4.45	38,812	22,882	224,445	306,063
2020-05-29	$154.63	$125.00	32.0%	9.4%	51.7%	18.4%	33.7%	7.7%	-0.1%	50.5M	-2.14B	-6.9M	0.49	5.36	35,714	17,429	226,452	314,525