UAN Options History — March 2024

In March 2024, UAN traded between $62.02 and $78.63. ATM implied volatility averaged 29.5%, placing in the 19.9% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 16.9% (HV 20d: 46.4%). Max pain ranged from $65.00 to $70.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.72.

Notable Days

  • 2024-03-21: Highest Volume — 867 contracts
  • 2024-03-19: Largest IV spike — 48.3% change
  • 2024-03-12: Highest IV Rank — 34.4%
  • 2024-03-20: Largest Expected Move — 10.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$69.54$62.02$78.63$66.38$78.52
Max Pain$67.00$65.00$70.00$70.00$70.00
ATM IV29.5%21.2%38.9%24.8%30.0%
Expected Move8.7%6.4%10.4%7.1%8.6%
HV 20d46.4%26.2%67.6%26.2%65.5%
HV 60d37.9%29.5%43.9%34.0%43.0%
IV Rank19.9%7.0%34.4%12.6%20.7%
IV Percentile31.9%3.2%60.3%10.7%35.3%
Term Structure9.7%-1.3%20.2%10.2%16.3%
VWIV31.7%25.3%36.2%28.3%28.4%
Skew 25d2.7%-4.0%10.0%6.0%-0.4%
Skew 10d6.3%-16.6%38.6%38.6%1.6%
Call IV 25d32.4%24.1%41.7%28.0%32.4%
Put IV 25d35.0%27.7%40.5%34.0%32.0%
Bid-Ask Spread %97.5386.27110.86110.8690.39
Gamma HHI0.170.120.350.240.13
Net GEX175.3K40.8K367.1K107.0K367.1K
Net DEX-3.8M-12.0M1.2M-636.3K-12.0M
Net VEX-42.4K-79.9K-20.6K-28.8K-79.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.720.016.930.246.93
Total Volume247.35686767698
Total OI3,955.43,0875,6213,2065,621

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-03-01$66.38$70.0024.8%7.1%26.2%12.6%28.3%6.0%10.2%107.0K-636.3K-28.8K0.24110.86N/AN/A54132,438768
2024-03-04$63.45$65.0021.2%9.4%29.1%7.0%29.4%8.8%1.6%40.8K490.5K-23.0K0.2599.16N/AN/A150372,468737
2024-03-05$62.75$65.0024.1%9.7%29.1%11.6%32.9%-4.0%-1.3%74.8K300.6K-27.4K0.10104.25N/AN/A134142,616760
2024-03-06$62.02$65.0033.3%9.3%29.0%25.8%32.5%10.0%8.9%51.0K1.2M-20.6K0.6899.93N/AN/A22152,712757
2024-03-07$65.68$65.0024.8%7.6%36.4%12.6%35.7%-1.4%9.1%117.6K-483.5K-27.7K0.02101.25N/AN/A12222,709762
2024-03-08$65.34$65.0028.0%9.6%36.4%17.6%25.9%7.7%4.7%122.9K-640.4K-28.4K0.5899.92N/AN/A19112,770758
2024-03-11$66.30$65.0029.4%8.6%36.8%19.7%29.2%5.6%12.6%133.1K-962.0K-28.4K0.0298.14N/AN/A10422,783766
2024-03-12$65.87$65.0038.9%8.6%36.0%34.4%32.8%-1.3%8.1%138.3K-875.3K-29.9K0.14100.00N/AN/A712,818766
2024-03-13$65.29$65.0034.0%9.8%35.9%26.9%0.0%6.4%2.7%143.8K-642.1K-28.9K0.50100.77N/AN/A422,819765
2024-03-14$64.56$65.0024.1%6.9%35.1%11.6%25.3%-2.0%11.2%115.2K-360.5K-28.8K0.7999.25N/AN/A24192,822767
2024-03-15$64.73$65.0026.5%7.6%35.0%15.3%32.8%-4.0%8.8%202.2K-11.7K-28.3K0.93101.24N/AN/A27252,840786
2024-03-18$64.05$65.0022.5%6.4%33.7%9.1%26.2%4.0%14.3%52.2K71.0K-25.6K0.71100.74N/AN/A34242,394693
2024-03-19$74.29$65.0033.3%9.6%64.2%25.8%36.1%7.2%6.3%149.1K-4.8M-42.1K0.3196.16N/AN/A6001872,426715
2024-03-20$78.63$70.0036.4%10.4%66.6%30.5%30.5%-3.0%11.3%209.6K-8.5M-50.2K0.9596.83N/AN/A3783612,831804
2024-03-21$76.44$70.0034.0%9.7%67.6%26.8%36.2%-1.1%11.3%210.5K-7.9M-55.2K0.0895.72N/AN/A803643,0041,073
2024-03-22$76.72$70.0031.9%9.1%66.9%23.6%32.3%3.3%5.5%288.4K-10.1M-69.2K0.0287.25N/AN/A552123,7431,124
2024-03-25$76.23$70.0032.0%9.2%67.0%23.8%35.9%-1.7%12.4%311.8K-9.9M-74.7K0.2086.27N/AN/A172344,2211,135
2024-03-26$76.80$70.0028.1%8.1%67.0%17.8%35.8%4.0%20.2%333.8K-10.2M-73.8K0.0191.91N/AN/A15414,3771,162
2024-03-27$76.71$70.0032.6%9.3%65.3%24.7%35.4%9.1%19.9%337.0K-10.6M-76.7K0.9790.62N/AN/A33324,4351,163
2024-03-28$78.52$70.0030.0%8.6%65.5%20.7%28.4%-0.4%16.3%367.1K-12.0M-79.9K6.9390.39N/AN/A886104,4481,173