S Options History — March 2020

In March 2020, S traded between $7.24 and $9.51. ATM implied volatility averaged 64.2%, placing in the 26.4% IV rank vs the trailing year. The 30-day expected move averaged 17.2%. IV traded below realized volatility by 55.0% (HV 20d: 119.2%). Max pain ranged from $6.00 to $8.00. Net GEX was positive for 19 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.56.

Notable Days

  • 2020-03-17: Highest Volume — 31,092 contracts
  • 2020-03-24: Largest IV spike — 241.9% change
  • 2020-03-24: Highest IV Rank — 70.3%
  • 2020-03-18: Largest Expected Move — 28.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.35$7.24$9.51$9.39$8.45
Max Pain$7.73$6.00$8.00$6.00$8.00
ATM IV64.2%23.5%135.5%37.0%35.2%
Expected Move17.2%10.0%28.6%10.0%15.1%
HV 20d119.2%56.7%207.4%200.5%88.4%
HV 60d126.2%121.4%130.4%121.5%130.4%
IV Rank26.4%1.6%70.3%9.8%7.3%
IV Percentile41.5%0.4%94.0%11.9%8.3%
Term Structure-16.1%-113.2%74.5%-1.5%-8.0%
VWIV66.9%31.5%118.6%31.5%51.9%
Skew 25d37.1%-35.8%137.3%13.4%62.2%
Skew 10d60.1%16.0%137.1%38.4%112.8%
Call IV 25d47.5%27.9%101.1%31.3%48.2%
Put IV 25d84.5%41.6%177.0%44.8%110.4%
Bid-Ask Spread %61.3123.32110.4737.3840.42
Gamma HHI0.160.110.200.160.17
Net GEX442.2K-103.0K994.3K675.6K790.5K
Net DEX-149.8M-261.0M-60.5M-251.1M-110.6M
Net VEX-421.2K-513.7K-358.5K-370.0K-360.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.560.159.530.380.48
Total Volume12,120.5454,57731,09211,0176,533
Total OI823,545.727480,180993,544981,258481,966

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-03-02$9.39$6.0037.0%10.0%200.5%9.8%31.5%13.4%-1.5%675.6K-251.1M-370.0K0.3837.38N/AN/A7,9643,053398,172583,086
2020-03-03$9.14$6.0041.6%13.0%201.0%12.7%49.6%17.3%-1.0%470.5K-234.1M-394.0K1.2430.25N/AN/A4,6625,785400,222583,589
2020-03-04$9.51$6.0035.9%11.4%200.9%9.2%36.6%11.6%-4.5%994.3K-261.0M-358.5K0.2923.50N/AN/A6,6151,924401,465586,411
2020-03-05$9.14$8.0039.3%11.3%202.6%11.3%37.9%3.4%-1.8%404.7K-236.2M-380.7K1.1125.69N/AN/A2,3972,660405,557586,744
2020-03-06$8.86$8.0041.3%11.3%203.8%12.5%40.8%26.7%-5.5%-103.0K-205.4M-360.4K1.0323.32N/AN/A4,6244,777406,784586,760
2020-03-09$8.18$8.0058.2%16.4%207.4%22.9%47.7%18.2%0.1%91.1K-165.0M-437.8K2.3135.09N/AN/A4,72010,885399,228577,017
2020-03-10$8.53$8.0049.6%13.1%206.9%17.6%48.8%14.7%-5.3%123.4K-182.6M-418.4K1.2124.60N/AN/A6,5377,902401,062575,723
2020-03-11$8.80$8.0045.9%14.9%56.7%15.3%48.6%9.1%-6.1%465.8K-204.3M-426.1K1.4033.77N/AN/A8,12511,334404,783577,383
2020-03-12$7.91$8.0073.8%19.0%68.1%32.4%68.1%16.9%-18.1%-62.3K-124.6M-513.7K1.3261.31N/AN/A8,11810,716407,522584,307
2020-03-13$8.32$8.0090.5%18.7%70.8%42.7%67.5%67.8%-53.9%230.9K-165.6M-451.9K1.03109.18N/AN/A5,8956,048407,579581,812
2020-03-16$7.87$8.0079.2%21.4%73.2%35.8%94.5%33.1%-65.5%147.9K-128.8M-467.9K1.9182.39N/AN/A4,9209,382400,744574,202
2020-03-17$7.86$8.0080.1%23.1%69.8%36.3%80.4%58.2%-37.9%153.6K-128.3M-473.9K9.5374.71N/AN/A2,95228,140401,255579,195
2020-03-18$7.24$8.0099.6%28.6%73.0%48.3%118.6%71.1%-5.1%58.5K-80.0M-465.6K2.4177.25N/AN/A5,26412,708397,950573,197
2020-03-19$8.09$8.0069.0%19.8%85.3%29.5%112.0%40.4%-5.6%-9.3K-140.4M-471.8K2.9785.70N/AN/A5,44416,154398,996570,237
2020-03-20$7.56$8.0061.5%17.6%84.3%24.9%85.2%55.9%66.7%775.8K-123.9M-455.7K1.4591.40N/AN/A2,2233,225400,813577,113
2020-03-23$7.49$8.0039.6%23.2%84.3%11.5%86.3%16.0%-58.1%596.2K-60.5M-420.0K1.0796.70N/AN/A2,4462,623260,612219,568
2020-03-24$7.91$8.00135.5%19.1%87.7%70.3%91.6%34.8%0.0%744.1K-86.2M-423.2K0.67110.47N/AN/A3,6682,446261,824220,243
2020-03-25$8.18$8.0023.5%21.0%89.0%1.6%65.1%112.3%-32.2%754.9K-96.3M-411.6K0.62107.11N/AN/A8,8595,536262,700221,833
2020-03-26$8.44$8.0067.3%21.7%89.9%28.4%80.4%-35.8%-57.1%810.3K-107.6M-409.5K0.5074.10N/AN/A3,0451,532266,118222,919
2020-03-27$8.36$8.0092.0%15.7%89.5%42.7%69.9%30.8%74.5%817.7K-100.4M-411.0K1.2453.79N/AN/A4,5395,621267,229223,465
2020-03-30$8.40$8.00116.1%13.4%88.7%57.7%58.8%137.3%-113.2%798.1K-103.0M-384.0K0.1550.67N/AN/A4,052599263,468217,153
2020-03-31$8.45$8.0035.2%15.1%88.4%7.3%51.9%62.2%-8.0%790.5K-110.6M-360.7K0.4840.42N/AN/A4,4272,106264,657217,309