PYPL Options History — September 2023

In September 2023, PYPL traded between $57.34 and $64.41. ATM implied volatility averaged 30.6%, placing in the 8.9% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded above realized volatility by 3.8% (HV 20d: 26.8%). Max pain ranged from $60.00 to $65.00. Net GEX was positive for 10 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.74.

Notable Days

  • 2023-09-22: Highest Volume — 170,069 contracts
  • 2023-09-21: Largest IV spike — 12.1% change
  • 2023-09-27: Highest IV Rank — 26.0%
  • 2023-09-27: Largest Expected Move — 10.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$61.19$57.34$64.41$63.55$58.34
Max Pain$63.25$60.00$65.00$60.00$60.00
ATM IV30.6%26.5%37.9%27.0%37.5%
Expected Move8.7%6.9%10.4%6.9%9.5%
HV 20d26.8%20.6%33.2%33.2%26.3%
HV 60d39.8%39.2%40.2%39.7%39.5%
IV Rank8.9%0.0%26.0%0.0%25.2%
IV Percentile10.8%0.0%32.9%0.0%32.9%
Term Structure2.6%0.5%7.7%0.9%7.7%
VWIV30.8%25.4%36.2%25.4%32.9%
Skew 25d2.2%1.2%3.9%1.2%3.4%
Skew 10d3.5%2.1%6.1%2.4%4.9%
Call IV 25d29.8%26.1%36.3%26.9%33.6%
Put IV 25d32.1%27.6%40.2%28.2%37.0%
Bid-Ask Spread %1.711.231.951.231.76
Gamma HHI0.060.050.130.050.06
Net GEX7.8M-18.8M51.4M33.0M-13.9M
Net DEX-135.0M-951.7M532.5M-820.0M271.9M
Net VEX-14.6M-16.1M-13.4M-16.1M-13.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.740.431.650.490.73
Total Volume122,238.683,933170,069130,48489,738
Total OI1,875,161.61,585,3892,114,9792,087,3911,773,918

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-09-01$63.55$60.0027.0%6.9%33.2%0.0%25.4%1.2%0.9%33.0M-820.0M-16.1M0.491.2387,59342,8911,422,255665,136
2023-09-05$63.84$65.0028.2%8.4%31.9%2.7%30.1%1.3%0.6%39.8M-759.3M-16.0M0.501.8062,77831,6131,365,718656,712
2023-09-06$62.84$65.0028.2%8.5%32.0%2.9%29.7%1.6%0.7%23.0M-487.3M-15.6M0.701.8276,20153,1381,382,128669,750
2023-09-07$61.80$65.0028.7%8.5%31.7%3.9%30.4%1.8%0.5%-2.1M-178.3M-15.2M0.551.5985,98147,3961,379,659669,432
2023-09-08$61.02$65.0028.2%8.5%31.8%2.8%29.7%1.4%0.8%-11.9M47.8M-14.8M0.651.5798,18764,2981,400,495678,588
2023-09-11$61.91$65.0027.8%8.2%31.7%2.0%28.8%1.7%0.6%5.4M-256.4M-14.5M0.671.4971,45448,0911,383,210659,897
2023-09-12$62.78$65.0028.1%8.3%30.6%2.5%29.2%1.5%0.8%21.0M-495.8M-14.9M0.871.8770,26260,8371,395,195669,478
2023-09-13$62.72$65.0027.5%8.1%20.6%1.1%28.8%1.6%0.8%18.3M-478.9M-14.8M1.651.5053,52788,0851,399,692676,853
2023-09-14$64.41$65.0026.5%7.7%22.3%0.0%27.8%1.5%0.8%49.3M-951.7M-15.2M0.771.6975,70258,6491,414,800687,124
2023-09-15$64.13$65.0027.5%8.0%21.3%2.2%28.4%1.4%0.5%51.4M-824.4M-15.2M0.621.51102,47963,7671,418,579696,400
2023-09-18$63.03$65.0028.2%8.1%22.3%4.0%28.8%1.6%2.2%12.5M-196.0M-14.7M0.691.8851,19635,3931,041,512543,877
2023-09-19$62.22$65.0028.8%8.3%23.0%5.3%29.5%1.5%2.0%5.6M-33.5M-14.5M0.631.9552,27932,9311,055,251557,042
2023-09-20$61.05$65.0029.2%8.4%23.0%6.1%32.0%2.1%2.1%-4.5M165.9M-14.0M1.001.8947,06646,9561,064,900563,832
2023-09-21$58.91$62.5032.7%9.3%25.5%14.2%32.7%3.3%1.7%-15.0M439.6M-13.5M0.621.82100,62762,4081,086,905575,427
2023-09-22$58.08$62.5032.8%9.3%25.4%14.3%31.9%3.2%1.3%-14.7M532.5M-13.4M0.431.87118,86351,2061,118,289585,740
2023-09-25$58.72$60.0034.3%9.5%25.7%17.8%35.9%3.7%6.9%-6.5M312.3M-13.7M0.731.7454,96839,9031,085,227572,408
2023-09-26$58.92$60.0036.0%9.9%25.6%21.6%34.5%3.8%6.5%-3.5M192.8M-14.1M1.271.7337,60847,9201,110,800586,682
2023-09-27$57.34$60.0037.9%10.4%26.2%26.0%36.2%3.9%6.7%-18.8M528.0M-13.6M0.611.7692,72156,1271,117,352615,454
2023-09-28$58.22$60.0037.0%9.7%26.4%24.0%34.1%3.4%7.0%-13.0M290.2M-13.8M0.531.7654,70329,2301,142,630614,885
2023-09-29$58.34$60.0037.5%9.5%26.3%25.2%32.9%3.4%7.7%-13.9M271.9M-13.7M0.731.7651,82837,9101,153,565620,353