SMCI Options History — March 2023

In March 2023, SMCI traded between $8.95 and $11.37. ATM implied volatility averaged 64.2%, placing in the 36.8% IV rank vs the trailing year. The 30-day expected move averaged 17.7%. IV traded above realized volatility by 3.4% (HV 20d: 60.8%). Max pain ranged from $7.50 to $10.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 0.52.

Notable Days

2023-03-14: Highest Volume — 111,270 contracts
2023-03-13: Largest IV spike — 15.3% change
2023-03-24: Highest IV Rank — 45.4%
2023-03-24: Largest Expected Move — 20.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.11	$8.95	$11.37	$10.17	$10.68
Max Pain	$8.57	$7.50	$10.00	$7.50	$9.00
ATM IV	64.2%	56.4%	74.1%	60.4%	74.1%
Expected Move	17.7%	15.5%	20.5%	17.3%	18.1%
HV 20d	60.8%	53.5%	67.2%	61.6%	66.7%
HV 60d	65.9%	62.5%	67.9%	66.6%	67.9%
IV Rank	36.8%	28.6%	45.4%	33.1%	45.4%
IV Percentile	70.3%	39.3%	95.2%	59.9%	95.2%
Term Structure	9.7%	-2.5%	21.6%	-2.5%	21.1%
VWIV	62.7%	54.4%	74.1%	60.2%	63.8%
Skew 25d	2.9%	-0.6%	7.4%	-0.6%	6.1%
Skew 10d	4.8%	-0.8%	9.8%	1.8%	7.0%
Call IV 25d	61.7%	53.4%	73.9%	61.6%	64.8%
Put IV 25d	64.6%	56.3%	75.2%	61.1%	70.8%
Bid-Ask Spread %	36.43	23.25	45.55	29.02	34.52
Gamma HHI	0.14	0.09	0.22	0.12	0.14
Net GEX	2.6M	876.7K	3.9M	2.2M	2.8M
Net DEX	-104.0M	-174.4M	-37.0M	-87.7M	-132.7M
Net VEX	-456.4K	-631.5K	-297.2K	-308.5K	-621.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.05	1.99	0.15	0.30
Total Volume	42,729.13	17,450	111,270	45,930	39,110
Total OI	416,841.739	284,120	542,740	284,120	516,370

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
2023-03-01	$10.17	$7.50	60.4%	17.3%	61.6%	33.1%	60.2%	-0.6%	-2.5%	2.2M	-87.7M	-308.5K	0.15	29.02	39,860	6,070	198,860	85,260
2023-03-02	$9.82	$7.50	57.8%	16.6%	54.6%	30.1%	60.5%	2.1%	-0.9%	2.4M	-79.5M	-328.9K	0.26	36.60	31,030	7,990	223,600	88,070
2023-03-03	$9.79	$8.00	56.4%	16.2%	54.8%	28.6%	57.6%	0.8%	-1.5%	2.4M	-78.0M	-335.4K	1.11	39.67	12,380	13,720	238,390	92,000
2023-03-06	$9.82	$9.50	57.9%	15.8%	54.2%	30.2%	56.4%	1.9%	6.1%	2.5M	-78.9M	-341.6K	0.50	36.36	12,330	6,220	243,700	99,910
2023-03-07	$9.88	$9.00	57.6%	15.6%	53.7%	29.9%	57.0%	3.7%	7.0%	2.7M	-83.5M	-347.9K	0.16	35.01	26,480	4,300	249,520	103,070
2023-03-08	$10.24	$9.00	57.9%	15.5%	53.5%	30.2%	54.4%	2.9%	8.5%	3.3M	-101.9M	-364.6K	0.21	32.05	40,890	8,490	270,640	106,310
2023-03-09	$9.85	$10.00	58.8%	16.0%	53.9%	31.3%	56.9%	3.2%	7.1%	2.5M	-78.9M	-350.2K	0.17	39.16	33,620	5,760	277,150	109,520
2023-03-10	$9.24	$10.00	61.9%	16.3%	59.3%	34.7%	56.2%	2.7%	8.1%	1.3M	-50.0M	-321.8K	0.62	44.21	17,360	10,800	273,660	111,310
2023-03-13	$8.95	$10.00	71.4%	16.7%	59.7%	45.3%	60.3%	3.5%	6.6%	876.7K	-37.0M	-297.2K	0.36	44.37	29,840	10,610	279,400	112,680
2023-03-14	$9.17	$8.00	69.5%	16.8%	60.2%	43.2%	60.6%	-0.1%	6.1%	1.4M	-58.0M	-329.9K	0.05	45.55	106,270	5,000	297,160	111,100
2023-03-15	$9.10	$8.00	62.0%	17.8%	59.8%	34.9%	63.4%	2.6%	7.8%	2.0M	-72.1M	-402.6K	0.17	43.22	57,490	9,520	375,070	113,820
2023-03-16	$9.69	$8.00	61.8%	17.7%	63.9%	34.6%	62.6%	2.3%	8.2%	3.7M	-114.9M	-463.7K	0.20	33.38	35,750	6,980	411,300	118,450
2023-03-17	$9.54	$8.00	61.9%	17.8%	63.0%	34.8%	63.1%	2.9%	9.5%	3.9M	-103.9M	-464.0K	0.52	37.53	11,470	5,980	421,210	121,530
2023-03-20	$9.86	$8.00	63.5%	18.2%	62.0%	36.5%	64.4%	3.4%	8.4%	2.5M	-93.2M	-475.6K	0.57	34.55	15,300	8,740	290,920	85,580
2023-03-21	$10.80	$8.00	65.0%	18.6%	67.1%	38.2%	65.0%	1.1%	7.4%	3.2M	-140.1M	-528.1K	0.21	31.55	48,900	10,060	292,280	90,200
2023-03-22	$11.36	$8.00	70.0%	20.1%	67.0%	43.8%	69.9%	-0.4%	8.0%	3.4M	-174.4M	-582.6K	0.27	27.77	55,720	15,130	305,510	96,130
2023-03-23	$11.37	$8.50	67.9%	19.5%	61.7%	41.4%	69.4%	4.0%	13.8%	3.2M	-169.0M	-587.5K	0.37	23.25	39,420	14,470	306,660	103,650
2023-03-24	$11.04	$8.50	71.5%	20.5%	62.1%	45.4%	74.1%	1.4%	16.3%	3.1M	-160.8M	-617.6K	0.94	39.11	31,110	29,370	326,100	110,290
2023-03-27	$11.13	$8.50	68.6%	19.7%	61.2%	42.2%	69.3%	1.9%	16.3%	3.1M	-161.0M	-631.5K	1.99	41.30	11,150	22,200	330,860	132,470
2023-03-28	$10.29	$8.50	65.7%	18.8%	67.2%	35.4%	67.0%	7.4%	19.6%	2.4M	-108.2M	-590.7K	0.74	35.23	25,660	19,090	331,020	140,660
2023-03-29	$10.50	$8.50	64.0%	18.3%	66.5%	33.3%	64.9%	6.5%	21.6%	2.7M	-120.9M	-603.4K	1.56	42.62	7,160	11,180	343,240	150,290
2023-03-30	$10.30	$9.00	72.2%	18.5%	65.6%	43.0%	65.8%	7.2%	21.0%	2.5M	-107.6M	-602.2K	0.63	31.93	13,960	8,830	345,640	156,800
2023-03-31	$10.68	$9.00	74.1%	18.1%	66.7%	45.4%	63.8%	6.1%	21.1%	2.8M	-132.7M	-621.9K	0.30	34.52	30,190	8,920	353,330	163,040