SMCI Options History — May 2023

In May 2023, SMCI traded between $10.39 and $23.36. ATM implied volatility averaged 64.1%, placing in the 27.2% IV rank vs the trailing year. The 30-day expected move averaged 18.6%. IV traded below realized volatility by 39.2% (HV 20d: 103.3%). Max pain ranged from $9.50 to $14.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.65.

Notable Days

2023-05-03: Highest Volume — 363,930 contracts
2023-05-25: Largest IV spike — 22.9% change
2023-05-30: Highest IV Rank — 50.7%
2023-05-30: Largest Expected Move — 23.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.63	$10.39	$23.36	$10.42	$22.37
Max Pain	$12.43	$9.50	$14.00	$9.50	$14.00
ATM IV	64.1%	54.5%	78.5%	71.6%	73.7%
Expected Move	18.6%	15.6%	23.9%	22.6%	23.0%
HV 20d	103.3%	66.9%	118.1%	69.7%	118.1%
HV 60d	80.5%	63.1%	91.0%	63.3%	91.0%
IV Rank	27.2%	11.7%	50.7%	39.5%	42.9%
IV Percentile	59.3%	18.3%	92.9%	85.7%	89.3%
Term Structure	-0.2%	-3.4%	2.3%	-3.4%	-1.0%
VWIV	66.4%	56.0%	86.2%	78.9%	81.2%
Skew 25d	-0.3%	-11.2%	6.5%	6.5%	-5.1%
Skew 10d	2.6%	-8.8%	10.9%	10.0%	-8.8%
Call IV 25d	66.4%	55.1%	88.7%	67.6%	80.0%
Put IV 25d	66.1%	57.7%	77.5%	74.1%	74.9%
Bid-Ask Spread %	34.04	23.72	43.28	26.81	32.32
Gamma HHI	0.09	0.05	0.12	0.10	0.05
Net GEX	7.2M	3.3M	9.8M	3.4M	7.8M
Net DEX	-512.8M	-1.02B	-93.8M	-99.7M	-899.7M
Net VEX	-922.8K	-1.4M	-617.1K	-617.1K	-1.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.65	0.26	1.30	0.83	1.30
Total Volume	135,780	48,230	363,930	113,380	171,770
Total OI	822,775.909	661,730	1,048,680	661,730	949,970

Daily Data (22 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
2023-05-01	$10.42	$9.50	71.6%	22.6%	69.7%	39.5%	78.9%	6.5%	-3.4%	3.4M	-99.7M	-617.1K	0.83	26.81	61,990	51,390	412,530	249,200
2023-05-02	$10.39	$9.70	70.7%	22.5%	66.9%	37.9%	79.1%	6.1%	-1.8%	3.3M	-93.8M	-636.6K	0.26	31.92	178,790	46,880	431,290	267,000
2023-05-03	$13.37	$9.80	66.1%	18.9%	111.7%	30.5%	68.3%	4.0%	1.0%	7.6M	-484.1M	-637.4K	0.69	43.28	215,560	148,370	508,270	295,610
2023-05-04	$13.58	$11.50	70.3%	18.3%	111.6%	37.3%	65.9%	-0.1%	-1.1%	7.5M	-467.3M	-645.4K	0.94	32.60	47,180	44,210	504,850	341,940
2023-05-05	$13.83	$12.00	59.3%	16.7%	105.8%	19.4%	59.7%	2.7%	0.7%	6.8M	-494.9M	-643.3K	0.51	28.28	99,040	50,130	519,330	357,170
2023-05-08	$13.72	$12.50	58.5%	16.8%	104.7%	18.1%	59.5%	2.3%	-0.4%	6.0M	-346.0M	-678.0K	0.67	23.72	42,380	28,490	424,690	286,440
2023-05-09	$13.27	$12.50	58.1%	16.3%	105.7%	17.6%	57.6%	2.7%	-1.2%	5.5M	-297.6M	-702.2K	0.29	30.45	55,180	16,160	440,080	302,500
2023-05-10	$13.48	$12.50	56.7%	16.1%	105.6%	15.3%	56.6%	2.1%	-0.3%	6.5M	-337.1M	-765.2K	0.43	35.31	58,660	25,510	476,230	308,630
2023-05-11	$13.58	$13.00	57.0%	16.3%	105.5%	15.7%	57.6%	4.4%	0.2%	7.3M	-356.7M	-818.0K	0.26	36.90	43,780	11,200	507,520	323,020
2023-05-12	$13.47	$13.00	56.1%	16.0%	105.7%	14.2%	56.8%	2.5%	-0.9%	9.1M	-349.4M	-841.5K	1.15	36.69	22,450	25,780	529,110	327,380
2023-05-15	$13.79	$13.00	54.5%	15.6%	105.8%	11.7%	56.0%	2.6%	1.6%	7.3M	-378.6M	-840.1K	0.65	37.41	32,620	21,250	499,750	307,710
2023-05-16	$14.60	$13.00	57.3%	16.4%	106.2%	16.2%	58.3%	2.4%	0.5%	7.7M	-472.5M	-864.7K	0.46	28.87	91,500	42,210	517,200	318,050
2023-05-17	$15.45	$13.00	60.8%	17.4%	104.4%	21.8%	62.7%	-1.1%	-0.3%	7.6M	-573.8M	-904.8K	0.37	39.35	114,100	41,920	550,880	334,300
2023-05-18	$16.44	$13.00	66.0%	18.8%	104.9%	30.3%	68.5%	-4.8%	2.3%	9.1M	-693.1M	-1.0M	0.39	28.81	171,720	66,160	592,200	355,990
2023-05-19	$16.32	$13.00	62.3%	17.7%	104.8%	24.3%	65.0%	-3.6%	1.8%	7.7M	-696.8M	-1.1M	0.78	41.52	84,880	66,290	656,230	392,450
2023-05-22	$16.56	$13.00	62.6%	17.8%	97.2%	24.8%	65.2%	-3.6%	0.5%	8.9M	-442.9M	-1.2M	1.00	30.72	43,640	43,570	467,530	232,780
2023-05-23	$16.20	$13.00	61.1%	17.9%	94.9%	22.3%	64.1%	-0.6%	0.3%	8.2M	-399.4M	-1.2M	0.61	38.83	43,950	26,860	482,690	260,460
2023-05-24	$16.71	$13.00	62.1%	18.1%	94.7%	24.0%	64.5%	-0.5%	-2.0%	9.8M	-484.8M	-1.3M	1.02	36.18	27,940	28,560	511,690	275,970
2023-05-25	$20.81	$13.00	76.3%	21.9%	116.5%	47.1%	75.7%	-6.9%	-0.7%	6.5M	-893.7M	-1.1M	0.49	34.20	116,640	57,370	515,320	305,290
2023-05-26	$22.25	$13.00	70.5%	20.4%	116.5%	37.6%	73.1%	-6.5%	1.2%	7.3M	-1.02B	-1.1M	0.49	36.46	165,330	81,100	552,030	353,300
2023-05-30	$23.36	$13.50	78.5%	23.9%	115.2%	50.7%	86.2%	-11.2%	-2.0%	6.8M	-999.8M	-1.3M	0.69	38.18	103,130	71,520	531,530	324,960
2023-05-31	$22.37	$14.00	73.7%	23.0%	118.1%	42.9%	81.2%	-5.1%	-1.0%	7.8M	-899.7M	-1.4M	1.30	32.32	74,620	97,150	584,200	365,770