S Options History — January 2024

In January 2024, S traded between $23.55 and $28.14. ATM implied volatility averaged 46.0%, placing in the 4.3% IV rank vs the trailing year. The 30-day expected move averaged 13.5%. IV traded below realized volatility by 6.2% (HV 20d: 52.2%). Max pain ranged from $17.50 to $27.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.57.

Notable Days

  • 2024-01-03: Highest Volume — 23,129 contracts
  • 2024-01-23: Largest IV drop — 5.7% change
  • 2024-01-17: Highest IV Rank — 6.9%
  • 2024-01-30: Largest Expected Move — 14.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.26$23.55$28.14$25.74$26.82
Max Pain$24.76$17.50$27.00$17.50$26.00
ATM IV46.0%43.9%49.1%44.5%46.6%
Expected Move13.5%12.5%14.7%12.5%14.0%
HV 20d52.2%44.7%74.7%68.4%52.3%
HV 60d55.3%54.0%56.6%54.3%56.2%
IV Rank4.3%2.6%6.9%3.0%4.8%
IV Percentile12.7%4.8%17.5%6.0%16.7%
Term Structure-0.0%-1.2%1.0%0.3%-0.7%
VWIV47.3%42.6%51.4%42.6%49.3%
Skew 25d1.8%-0.2%3.6%2.0%0.7%
Skew 10d3.7%1.2%10.4%2.3%2.8%
Call IV 25d45.7%43.4%47.6%43.8%47.3%
Put IV 25d47.5%45.2%51.0%45.9%48.1%
Bid-Ask Spread %49.3515.2559.7559.7553.27
Gamma HHI0.110.090.140.100.10
Net GEX2.5M1.6M3.2M2.9M2.8M
Net DEX-161.3M-213.2M-129.7M-213.2M-155.5M
Net VEX-677.0K-828.7K-641.5K-828.7K-690.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.112.590.380.20
Total Volume8,330.0953,07523,1294,0596,768
Total OI173,322.857135,915197,489189,388153,326

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-01-02$25.74$17.5044.5%12.5%68.4%3.0%42.6%2.0%0.3%2.9M-213.2M-828.7K0.3859.75N/AN/A2,9411,118143,15246,236
2024-01-03$23.94$17.5045.1%12.7%74.6%3.6%44.0%3.1%0.8%2.7M-165.0M-785.3K0.3358.35N/AN/A17,4555,674142,77746,787
2024-01-04$23.59$27.0045.3%13.4%74.7%3.7%46.7%1.9%0.6%2.3M-143.0M-664.8K0.5315.25N/AN/A2,3591,242135,04150,266
2024-01-05$23.77$26.0043.9%13.1%48.2%2.6%45.3%2.2%0.1%2.5M-149.0M-661.5K1.1439.45N/AN/A3,3313,787137,87350,736
2024-01-08$23.55$26.0044.2%12.9%48.3%2.8%45.1%0.7%0.5%2.2M-144.5M-660.0K0.1754.14N/AN/A6,7411,141135,30750,279
2024-01-09$23.93$26.0045.6%13.3%47.2%4.0%47.6%1.1%0.8%2.4M-153.0M-641.5K0.1144.67N/AN/A5,119577134,68250,791
2024-01-10$24.48$25.0045.9%13.2%47.8%4.2%45.7%2.4%0.1%2.9M-170.4M-654.0K0.5053.72N/AN/A4,1612,088138,02351,203
2024-01-11$24.36$25.0045.5%13.1%45.2%3.9%46.1%1.1%0.8%2.7M-167.1M-653.8K2.5957.10N/AN/A2,1215,494139,92452,633
2024-01-12$25.34$25.0045.9%13.2%47.1%4.2%47.1%-0.2%1.0%3.2M-197.0M-666.6K0.2053.40N/AN/A9,0931,838140,34853,553
2024-01-16$24.79$25.0046.5%13.4%47.5%4.7%46.9%0.9%-0.8%3.0M-175.4M-645.2K1.2054.23N/AN/A3,3694,056139,80751,596
2024-01-17$24.52$25.0049.1%14.1%46.1%6.9%49.1%3.4%-1.1%2.8M-166.7M-651.3K1.2357.03N/AN/A3,2453,984140,78952,902
2024-01-18$24.74$25.0047.1%13.6%45.7%5.2%48.1%3.6%-1.2%2.8M-170.7M-651.0K0.2357.69N/AN/A2,996678141,23755,484
2024-01-19$24.63$25.0046.0%13.3%44.7%4.3%46.3%2.0%-1.1%2.2M-165.5M-645.5K0.1558.05N/AN/A6,425955141,68455,805
2024-01-22$26.41$25.0048.1%14.0%50.5%6.1%49.2%2.6%-0.5%1.6M-141.0M-663.8K0.3639.30N/AN/A10,6973,86894,19341,722
2024-01-23$26.43$25.0045.4%13.2%48.6%3.8%47.1%1.1%-0.3%2.0M-145.7M-677.1K0.7542.06N/AN/A5,3363,976100,55942,427
2024-01-24$25.77$25.0045.5%13.5%49.1%3.9%47.6%1.7%-0.2%2.1M-132.8M-665.4K0.6344.98N/AN/A3,9702,512102,64141,502
2024-01-25$25.68$26.0046.4%14.0%49.0%4.6%48.3%1.1%-0.3%1.9M-129.7M-671.8K0.3846.72N/AN/A2,233842103,60042,685
2024-01-26$26.26$26.0045.5%13.6%49.9%3.9%48.1%1.4%0.3%2.5M-144.9M-675.8K0.2747.44N/AN/A4,5821,246103,65843,139
2024-01-29$28.14$26.0047.2%14.3%56.1%5.3%50.6%1.6%0.8%2.7M-183.2M-668.4K0.3150.97N/AN/A13,7374,243100,71940,762
2024-01-30$27.63$26.0047.4%14.7%56.2%5.5%51.4%2.5%-0.0%2.9M-175.0M-694.3K0.2448.80N/AN/A7,2241,710106,58143,351
2024-01-31$26.82$26.0046.6%14.0%52.3%4.8%49.3%0.7%-0.7%2.8M-155.5M-690.3K0.2053.27N/AN/A5,6551,113108,78044,546