UAN Options History — October 2023

In October 2023, UAN traded between $78.11 and $83.66. ATM implied volatility averaged 40.4%, placing in the 31.0% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded above realized volatility by 17.9% (HV 20d: 22.5%). Max pain ranged from $80.00 to $80.00. Net GEX was positive for 13 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 0.81.

Notable Days

  • 2023-10-31: Highest Volume — 327 contracts
  • 2023-10-11: Largest IV spike — 74.8% change
  • 2023-10-27: Highest IV Rank — 50.0%
  • 2023-10-27: Largest Expected Move — 14.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$81.37$78.11$83.66$83.16$78.78
Max Pain$80.00$80.00$80.00$80.00$80.00
ATM IV40.4%21.9%50.9%21.9%41.5%
Expected Move12.3%6.3%14.6%6.3%11.9%
HV 20d22.5%17.8%26.4%24.2%17.8%
HV 60d34.6%29.3%36.2%35.5%29.3%
IV Rank31.0%2.1%50.0%2.1%34.4%
IV Percentile42.7%0.8%73.4%0.8%42.5%
Term Structure-8.4%-27.3%19.7%11.5%-20.0%
VWIV42.6%29.7%50.6%29.7%36.3%
Skew 25d3.3%-15.2%16.3%7.3%16.3%
Skew 10d19.0%-14.6%54.1%9.5%32.8%
Call IV 25d38.9%27.2%46.1%27.2%34.1%
Put IV 25d42.2%28.9%55.9%34.5%50.3%
Bid-Ask Spread %94.2188.4998.2991.0392.40
Gamma HHI0.190.140.300.170.16
Net GEX82.8K-108.5K315.6K168.7K-83.5K
Net DEX487.9K-1.4M2.5M-1.4M2.2M
Net VEX-39.7K-46.2K-32.0K-46.1K-35.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.034.430.801.04
Total Volume69.7271232718327
Total OI5,485.6824,9365,8555,5865,124

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-10-02$83.16$80.0021.9%6.3%24.2%2.1%29.7%7.3%11.5%168.7K-1.4M-46.1K0.8091.03N/AN/A1083,1432,443
2023-10-03$81.44$80.0033.6%9.6%25.7%19.6%31.9%10.0%17.8%125.0K443.2K-46.2K1.0592.92N/AN/A44463,1532,459
2023-10-04$80.04$80.0030.9%8.9%26.4%15.5%30.7%3.9%19.7%47.9K598.6K-44.6K0.3994.10N/AN/A1873,1712,433
2023-10-05$81.44$80.0029.5%10.6%25.2%13.4%40.9%-3.2%-6.0%71.4K433.0K-43.4K0.1691.62N/AN/A3253,1832,440
2023-10-06$80.62$80.0030.6%13.1%25.6%15.0%43.0%-8.4%-16.9%59.6K747.0K-43.0K0.0396.43N/AN/A3113,1972,443
2023-10-09$81.91$80.0029.6%13.4%24.6%13.6%47.1%-7.0%-14.5%110.9K-361.0K-43.6K0.0689.89N/AN/A1713,2122,452
2023-10-10$83.04$80.0025.5%12.5%25.0%7.5%38.9%1.8%-6.6%210.5K-1.1M-43.3K0.0897.99N/AN/A6353,2222,451
2023-10-11$83.02$80.0044.6%12.8%25.0%36.1%38.5%-2.7%-13.3%213.1K-640.7K-43.3K0.4895.29N/AN/A29143,2562,454
2023-10-12$83.42$80.0044.7%12.8%24.0%36.2%42.4%-1.8%-11.7%257.9K-1.0M-41.7K0.4097.26N/AN/A40163,2752,455
2023-10-13$82.91$80.0043.8%12.6%24.1%34.8%44.7%4.0%-1.4%242.0K-663.8K-42.9K0.4896.59N/AN/A29143,2822,457
2023-10-16$83.34$80.0041.1%11.8%23.4%30.8%37.8%12.7%1.2%283.4K-886.4K-40.2K4.4397.67N/AN/A7313,2932,448
2023-10-17$83.66$80.0045.4%13.0%23.4%37.2%46.3%6.4%-11.0%315.6K-1.2M-39.8K0.6891.86N/AN/A44303,2932,446
2023-10-18$83.13$80.0046.6%13.3%23.5%38.9%50.5%5.1%-10.0%290.6K-442.5K-41.3K0.1493.68N/AN/A2943,3132,454
2023-10-19$81.00$80.0049.2%14.1%22.2%42.9%50.6%-4.5%-16.5%-2.7K1.1M-36.2K0.4995.99N/AN/A78383,3262,457
2023-10-20$80.87$80.0048.0%13.7%20.7%41.0%47.9%-1.7%-11.3%-51.4K1.3M-35.9K0.4994.79N/AN/A90443,3832,472
2023-10-23$80.90$80.0038.9%11.2%20.4%30.2%46.4%-15.2%-27.3%-66.9K1.6M-35.3K0.3197.83N/AN/A72222,6952,241
2023-10-24$80.98$80.0047.5%13.6%19.7%44.4%42.5%9.1%-16.5%-67.5K1.3M-34.5K0.2091.86N/AN/A1022,7522,234
2023-10-25$80.33$80.0049.1%14.1%19.5%46.9%46.6%5.4%-8.3%-50.4K2.1M-33.8K0.4796.28N/AN/A36172,7732,236
2023-10-26$79.64$80.0049.2%14.1%18.2%47.1%46.3%15.7%-18.8%-65.6K1.8M-36.3K3.8698.29N/AN/A7272,7942,239
2023-10-27$78.38$80.0050.9%14.6%18.8%50.0%49.5%10.1%-14.0%-78.4K2.2M-34.4K1.1190.35N/AN/A36402,7992,258
2023-10-30$78.11$80.0047.0%13.5%18.6%43.6%48.0%8.5%-10.4%-108.5K2.5M-32.0K0.7188.49N/AN/A66472,8142,260
2023-10-31$78.78$80.0041.5%11.9%17.8%34.4%36.3%16.3%-20.0%-83.5K2.2M-35.0K1.0492.40N/AN/A1601672,8572,267