SMCI Options History — September 2023

In September 2023, SMCI traded between $23.22 and $28.24. ATM implied volatility averaged 60.5%, placing in the 22.1% IV rank vs the trailing year. The 30-day expected move averaged 17.2%. IV traded below realized volatility by 5.6% (HV 20d: 66.0%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.82.

Notable Days

  • 2023-09-15: Highest Volume — 633,550 contracts
  • 2023-09-08: Largest IV drop — 4.9% change
  • 2023-09-29: Highest IV Rank — 31.1%
  • 2023-09-26: Largest Expected Move — 18.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.08$23.22$28.24$28.13$27.49
Max Pain$25.84$25.00$30.00$30.00$25.00
ATM IV60.5%56.9%64.7%61.7%64.7%
Expected Move17.2%16.5%18.3%17.3%17.2%
HV 20d66.0%48.9%119.1%119.1%52.8%
HV 60d80.1%79.1%81.0%81.0%80.1%
IV Rank22.1%14.6%31.1%25.7%31.1%
IV Percentile35.4%14.7%53.6%41.3%53.6%
Term Structure2.9%-0.6%11.9%-0.4%9.4%
VWIV61.0%58.0%64.2%61.8%60.8%
Skew 25d1.1%-0.2%2.8%0.2%2.5%
Skew 10d3.0%0.7%6.6%0.8%4.3%
Call IV 25d60.1%57.0%63.4%62.6%59.5%
Put IV 25d61.3%57.6%65.6%62.8%61.9%
Bid-Ask Spread %23.5718.7228.9023.4125.38
Gamma HHI0.100.040.250.240.25
Net GEX3.1M-19.2M36.8M36.8M24.6M
Net DEX-132.8M-645.1M321.9M-472.1M-645.1M
Net VEX-2.5M-2.8M-2.3M-2.8M-2.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.820.391.260.871.14
Total Volume301,313.5180,750633,550472,130394,010
Total OI1,279,387.51,020,8001,532,9701,464,2201,283,990

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-09-01$28.13$30.0061.7%17.3%119.1%25.7%61.8%0.2%-0.4%36.8M-472.1M-2.8M0.8723.41251,960220,170741,120723,100
2023-09-05$28.24$26.0062.6%17.9%118.0%27.7%63.4%-0.2%-0.2%6.9M-327.1M-2.7M0.7023.66156,150109,760596,100635,930
2023-09-06$27.28$26.0062.0%17.7%118.2%26.3%63.0%0.7%-0.6%3.0M-145.0M-2.6M0.8921.40135,660121,080653,310675,460
2023-09-07$26.73$26.0061.5%17.5%66.9%25.2%62.4%0.4%0.5%-5.6M-20.2M-2.6M0.8518.72195,220166,200675,790706,520
2023-09-08$27.93$26.0058.5%16.9%67.1%18.3%59.4%0.7%-0.2%11.7M-349.6M-2.6M0.6820.98257,640174,810715,390746,760
2023-09-11$27.75$26.0058.2%16.8%59.3%17.7%59.6%0.7%0.4%7.9M-219.8M-2.5M0.9420.01158,510148,930593,200644,910
2023-09-12$26.68$26.0058.8%17.0%57.3%19.0%59.9%0.4%0.3%3.2M-58.0M-2.5M0.7823.60142,900110,810664,550701,350
2023-09-13$27.12$26.0058.3%17.0%57.0%17.9%59.9%0.4%0.9%8.8M-106.6M-2.6M0.3922.46193,38075,930714,890755,700
2023-09-14$26.92$26.0056.9%16.5%55.5%14.6%58.0%0.6%0.8%7.4M-109.0M-2.5M0.6725.19125,42083,530754,830736,550
2023-09-15$24.88$26.0058.0%16.8%60.4%17.2%59.4%0.6%0.9%-19.2M321.9M-2.3M0.8421.46344,210289,340782,590750,380
2023-09-18$24.51$26.0058.7%16.8%60.6%18.8%59.6%1.2%1.8%-6.4M35.5M-2.4M0.6220.98161,90099,730451,640569,160
2023-09-19$24.85$26.0058.5%16.8%59.4%16.5%59.0%1.7%0.7%-2.2M-34.6M-2.5M0.5322.66117,90062,850507,810601,260
2023-09-20$24.30$25.5058.2%16.7%59.7%15.9%58.9%1.5%1.5%-6.5M45.4M-2.4M0.6828.51115,34077,970548,870626,040
2023-09-21$23.22$25.2561.1%17.5%51.9%22.5%61.5%1.9%0.6%-18.5M218.6M-2.4M1.1622.84147,500170,910576,890655,980
2023-09-22$23.52$25.0060.1%17.1%48.9%20.2%60.1%1.9%2.5%-11.8M140.0M-2.4M0.9527.9197,39092,440619,440666,320
2023-09-25$24.73$25.0062.1%17.6%51.4%25.0%62.8%0.5%9.0%-3.0M-80.0M-2.5M0.7224.48128,72092,340467,850578,860
2023-09-26$24.84$25.0063.4%18.3%51.3%27.9%64.2%2.2%9.1%-673.2K-113.2M-2.5M0.8628.9099,55085,890502,700595,520
2023-09-27$25.70$25.0063.0%18.1%52.3%27.1%64.1%2.3%9.9%7.0M-265.3M-2.6M1.2624.66126,930160,560540,510614,400
2023-09-28$26.83$25.0063.5%17.4%53.8%28.2%61.8%2.8%11.9%19.1M-471.1M-2.6M0.8224.10182,800149,930569,380642,700
2023-09-29$27.49$25.0064.7%17.2%52.8%31.1%60.8%2.5%9.4%24.6M-645.1M-2.7M1.1425.38184,480209,530612,710671,280