S Options History — March 2017

In March 2017, S traded between $8.28 and $8.87. ATM implied volatility averaged 37.8%, placing in the 6.4% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded above realized volatility by 5.8% (HV 20d: 32.0%). Max pain ranged from $8.50 to $9.00. Net GEX was positive for 18 of 23 trading days. Term structure was in contango for 16 of 23 days. Put/call ratio averaged 2.23.

Notable Days

  • 2017-03-31: Highest Volume — 70,966 contracts
  • 2017-03-22: Largest IV spike — 7.6% change
  • 2017-03-31: Highest IV Rank — 22.0%
  • 2017-03-07: Largest Expected Move — 11.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.51$8.28$8.87$8.85$8.69
Max Pain$8.89$8.50$9.00$9.00$8.50
ATM IV37.8%32.9%42.3%38.6%42.3%
Expected Move10.4%9.4%11.4%11.0%10.1%
HV 20d32.0%28.6%36.5%36.1%31.5%
HV 60d32.6%30.7%36.3%36.1%30.7%
IV Rank6.4%0.0%22.0%4.1%22.0%
IV Percentile3.2%0.0%17.5%1.6%17.5%
Term Structure2.0%-6.1%14.9%0.6%14.9%
VWIV36.3%33.5%38.7%38.4%36.8%
Skew 25d1.9%-4.0%6.8%2.4%1.4%
Skew 10d9.4%-13.9%29.4%4.6%29.4%
Call IV 25d37.6%32.4%42.2%40.1%38.5%
Put IV 25d39.5%34.3%44.1%42.4%39.9%
Bid-Ask Spread %5.573.0210.194.326.14
Gamma HHI0.150.110.190.180.19
Net GEX303.8K-170.2K787.9K787.9K689.5K
Net DEX-60.1M-84.6M-43.5M-73.5M-84.6M
Net VEX-706.2K-753.4K-645.1K-741.1K-690.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.230.414.172.020.41
Total Volume33,786.08726,27970,96633,63970,966
Total OI651,412.565623,772687,341644,029687,341

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-03-01$8.85$9.0038.6%11.0%36.1%4.1%38.4%2.4%0.6%787.9K-73.5M-741.1K2.024.32N/AN/A11,14122,498252,951391,078
2017-03-02$8.73$9.0040.4%10.4%34.8%8.5%36.1%1.1%-1.0%602.5K-65.9M-753.4K2.633.02N/AN/A7,40419,476258,796393,596
2017-03-03$8.87$9.0040.2%10.3%30.3%8.2%36.2%1.4%-0.8%590.3K-73.4M-745.0K3.064.28N/AN/A6,62220,275260,044393,334
2017-03-06$8.78$9.0038.9%10.9%30.3%5.0%38.2%1.0%0.5%410.8K-67.1M-729.1K1.473.40N/AN/A15,30322,550249,181379,380
2017-03-07$8.31$9.0038.9%11.4%36.3%4.9%38.7%1.1%-0.2%-81.9K-46.5M-709.7K2.283.49N/AN/A12,22327,926253,315383,236
2017-03-08$8.40$9.0039.6%11.3%36.5%6.7%38.4%2.4%0.1%-129.2K-48.6M-719.8K1.943.74N/AN/A12,01923,302258,981389,143
2017-03-09$8.34$9.0037.8%11.1%33.6%2.1%37.9%0.8%1.0%-170.2K-45.1M-708.3K1.524.39N/AN/A12,20918,579261,708389,623
2017-03-10$8.30$9.0038.9%11.0%33.2%4.8%36.9%1.7%-0.9%-97.1K-43.5M-712.3K2.524.58N/AN/A8,52321,500263,145389,819
2017-03-13$8.47$9.0038.5%11.1%33.2%4.0%37.6%2.1%0.1%-56.0K-52.5M-701.8K2.105.24N/AN/A9,23219,432256,664388,178
2017-03-14$8.40$9.0037.8%10.8%33.0%2.3%36.1%4.2%0.6%56.2K-49.0M-703.4K2.705.12N/AN/A7,26619,634259,802388,942
2017-03-15$8.64$9.0038.8%10.2%33.1%4.7%36.4%-4.0%-6.1%211.9K-61.9M-714.8K2.357.97N/AN/A7,84118,438260,024389,433
2017-03-16$8.63$9.0037.5%10.1%32.9%1.4%35.5%1.6%-4.7%271.4K-65.3M-645.1K2.455.82N/AN/A7,67418,782260,971390,219
2017-03-17$8.56$9.0035.7%9.6%32.4%0.0%33.9%1.5%-4.6%235.4K-57.2M-697.5K0.906.33N/AN/A21,82519,560260,957391,657
2017-03-20$8.49$9.0033.6%9.6%28.6%0.0%33.5%0.8%1.5%383.5K-63.9M-675.8K2.038.41N/AN/A11,57823,501242,249381,523
2017-03-21$8.29$9.0032.9%9.4%29.4%0.0%33.6%1.5%3.9%204.0K-52.9M-701.4K2.795.98N/AN/A8,39423,409248,634386,662
2017-03-22$8.28$9.0035.4%10.1%29.4%5.8%35.8%2.1%1.6%168.2K-52.8M-679.2K3.435.15N/AN/A6,07820,822252,254390,481
2017-03-23$8.45$9.0034.8%9.9%28.8%4.6%34.7%1.9%3.3%382.9K-66.3M-657.0K3.385.44N/AN/A6,35121,484253,239391,376
2017-03-24$8.54$9.0035.9%10.1%29.2%7.2%35.3%1.3%2.0%448.5K-64.8M-711.9K0.8110.19N/AN/A26,09721,140254,065392,489
2017-03-27$8.30$8.5037.6%10.5%30.6%11.2%37.7%2.4%4.0%495.7K-56.9M-723.2K4.177.86N/AN/A7,22630,137268,297391,826
2017-03-28$8.32$8.5037.0%10.4%30.5%9.5%36.5%6.7%10.4%322.0K-55.4M-729.9K2.465.51N/AN/A7,77119,152270,165403,319
2017-03-29$8.50$8.5038.6%10.1%31.5%13.4%35.9%6.8%9.4%500.7K-63.8M-714.9K2.035.66N/AN/A9,55019,386271,536404,055
2017-03-30$8.52$8.5040.2%10.1%31.2%17.1%35.7%2.5%11.2%761.0K-72.5M-677.2K1.936.17N/AN/A11,18121,623273,955404,846
2017-03-31$8.69$8.5042.3%10.1%31.5%22.0%36.8%1.4%14.9%689.5K-84.6M-690.7K0.416.14N/AN/A50,43220,534278,867408,474