PYPL Options History — March 2021

In March 2021, PYPL traded between $227.99 and $273.30. ATM implied volatility averaged 41.3%, placing in the 20.1% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded below realized volatility by 13.9% (HV 20d: 55.1%). Max pain ranged from $240.00 to $240.00. Net GEX was positive for 13 of 23 trading days. Term structure was in contango for 15 of 23 days. Put/call ratio averaged 0.72.

Notable Days

2021-03-04: Highest Volume — 137,690 contracts
2021-03-03: Largest IV spike — 10.5% change
2021-03-29: Highest IV Rank — 30.4%
2021-03-08: Largest Expected Move — 13.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$245.07	$227.99	$273.30	$273.30	$243.48
Max Pain	$240.00	$240.00	$240.00	$240.00	$240.00
ATM IV	41.3%	35.6%	47.2%	40.5%	38.4%
Expected Move	11.7%	10.1%	13.2%	11.3%	10.2%
HV 20d	55.1%	49.3%	60.1%	50.1%	49.4%
HV 60d	46.2%	40.5%	47.9%	40.7%	47.9%
IV Rank	20.1%	10.0%	30.4%	15.6%	22.8%
IV Percentile	46.3%	14.7%	71.0%	43.3%	37.3%
Term Structure	0.7%	-1.0%	2.7%	-0.4%	2.7%
VWIV	41.6%	36.2%	46.8%	41.1%	36.2%
Skew 25d	3.1%	1.9%	7.1%	2.1%	1.9%
Skew 10d	6.7%	4.2%	14.1%	5.0%	5.5%
Call IV 25d	40.6%	35.3%	45.4%	40.3%	38.3%
Put IV 25d	43.8%	37.3%	51.6%	42.4%	40.3%
Bid-Ask Spread %	9.91	2.65	16.72	4.68	2.65
Gamma HHI	0.06	0.04	0.11	0.08	0.05
Net GEX	12.3M	-26.3M	63.0M	63.0M	28.4M
Net DEX	-1.25B	-3.84B	295.3M	-3.84B	-1.29B
Net VEX	-20.1M	-21.6M	-17.8M	-17.8M	-21.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.72	0.46	1.00	0.53	0.46
Total Volume	74,570.043	41,977	137,690	88,972	64,420
Total OI	681,551.478	588,982	772,283	612,305	672,859

Daily Data (23 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
2021-03-01	$273.30	$240.00	40.5%	11.3%	50.1%	15.6%	41.1%	2.1%	-0.4%	63.0M	-3.84B	-17.8M	0.53	4.68	58,328	30,644	325,178	287,127
2021-03-02	$270.59	$240.00	40.6%	11.5%	49.3%	15.8%	41.8%	2.3%	-0.5%	52.9M	-3.55B	-18.6M	0.65	7.39	42,750	27,950	337,083	299,556
2021-03-03	$255.92	$240.00	44.9%	13.2%	53.2%	23.1%	46.8%	4.5%	-0.5%	6.4M	-1.92B	-19.1M	0.63	5.54	53,991	34,085	342,859	314,056
2021-03-04	$238.90	$240.00	46.8%	13.1%	58.4%	26.3%	46.3%	7.1%	-1.0%	-11.6M	-243.1M	-18.7M	0.73	14.31	79,770	57,920	354,148	325,117
2021-03-05	$239.05	$240.00	44.4%	12.4%	52.8%	22.3%	43.5%	5.6%	1.7%	-3.9M	-221.7M	-19.0M	0.95	13.38	69,216	65,496	367,034	331,082
2021-03-08	$227.99	$240.00	47.2%	13.2%	54.7%	27.1%	46.0%	6.0%	-0.6%	1.6M	295.3M	-18.6M	0.66	13.71	61,530	40,752	349,534	322,583
2021-03-09	$242.50	$240.00	44.3%	12.6%	57.3%	22.1%	44.7%	3.4%	-0.2%	21.3M	-1.13B	-20.2M	0.61	13.37	54,844	33,244	365,791	334,693
2021-03-10	$242.31	$240.00	45.0%	12.7%	56.6%	23.2%	45.2%	3.6%	-0.5%	21.4M	-1.07B	-20.1M	0.79	16.20	53,581	42,378	366,089	336,760
2021-03-11	$254.26	$240.00	43.0%	12.4%	60.1%	20.0%	44.0%	2.0%	0.3%	47.5M	-2.52B	-21.5M	0.51	14.47	54,365	27,701	383,689	358,181
2021-03-12	$250.22	$240.00	42.7%	12.4%	60.1%	19.4%	44.5%	2.0%	0.7%	48.5M	-1.99B	-21.6M	0.69	13.83	38,366	26,376	385,600	367,154
2021-03-15	$249.47	$240.00	42.1%	12.1%	56.8%	18.4%	43.4%	1.9%	0.1%	27.0M	-1.88B	-20.8M	0.75	9.77	23,962	18,015	365,795	351,478
2021-03-16	$249.42	$240.00	40.4%	11.6%	55.7%	15.4%	42.2%	2.4%	0.8%	32.2M	-1.91B	-20.6M	0.58	11.55	42,582	24,849	371,625	355,089
2021-03-17	$251.18	$240.00	40.1%	11.5%	55.7%	14.9%	41.5%	2.2%	0.5%	39.9M	-2.26B	-20.7M	1.00	16.72	26,994	26,990	388,311	367,456
2021-03-18	$238.40	$240.00	43.0%	12.3%	57.7%	19.9%	43.7%	4.1%	-0.4%	-12.4M	-578.8M	-20.4M	0.78	10.55	45,852	35,708	384,814	370,758
2021-03-19	$241.33	$240.00	38.9%	11.1%	58.2%	15.7%	39.3%	3.1%	0.4%	-15.8M	-1.05B	-20.2M	0.86	16.51	38,054	32,801	391,227	381,056
2021-03-22	$244.40	$240.00	36.8%	10.4%	56.8%	12.8%	37.5%	1.9%	2.0%	2.9M	-1.01B	-20.2M	0.68	3.22	29,565	19,964	285,280	303,702
2021-03-23	$242.97	$240.00	35.6%	10.1%	56.0%	10.0%	36.2%	2.0%	2.2%	-925.6K	-873.3M	-19.7M	0.51	4.94	32,018	16,457	294,113	312,411
2021-03-24	$235.81	$240.00	37.6%	10.8%	56.7%	19.6%	37.6%	2.2%	0.5%	-20.3M	-193.4M	-19.8M	0.77	7.24	28,880	22,246	305,706	320,011
2021-03-25	$234.79	$240.00	37.9%	10.6%	55.2%	20.5%	38.7%	2.3%	1.7%	-26.3M	-101.6M	-20.4M	0.94	9.74	38,526	36,345	311,502	329,421
2021-03-26	$238.07	$240.00	38.0%	10.7%	54.7%	21.0%	38.7%	3.2%	2.7%	-3.5M	-493.2M	-21.2M	0.93	3.60	34,508	32,169	319,685	339,034
2021-03-29	$235.17	$240.00	41.1%	11.3%	51.3%	30.4%	40.1%	3.0%	1.4%	-12.5M	-324.3M	-20.9M	0.75	9.47	27,552	20,548	310,258	329,999
2021-03-30	$237.04	$240.00	39.6%	10.6%	51.6%	26.7%	38.0%	2.6%	1.7%	-1.9M	-489.8M	-21.2M	0.70	5.09	25,150	17,669	322,434	338,346
2021-03-31	$243.48	$240.00	38.4%	10.2%	49.4%	22.8%	36.2%	1.9%	2.7%	28.4M	-1.29B	-21.4M	0.46	2.65	44,043	20,377	330,299	342,560