UYG Options History — March 2021

In March 2021, UYG traded between $48.75 and $54.58. ATM implied volatility averaged 40.3%, placing in the 9.7% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 5.5% (HV 20d: 34.8%). Max pain ranged from $33.00 to $40.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 10 of 23 days. Put/call ratio averaged 0.19.

Notable Days

  • 2021-03-10: Highest Volume — 1,444 contracts
  • 2021-03-08: Largest IV spike — 13.5% change
  • 2021-03-29: Highest IV Rank — 14.8%
  • 2021-03-03: Largest Expected Move — 12.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$52.33$48.75$54.58$50.53$53.01
Max Pain$39.09$33.00$40.00$33.00$40.00
ATM IV40.3%37.3%45.7%39.4%38.6%
Expected Move11.5%10.7%12.5%11.3%11.1%
HV 20d34.8%28.2%39.1%30.9%33.0%
HV 60d35.1%33.5%36.0%33.5%35.5%
IV Rank9.7%7.2%14.8%7.5%13.2%
IV Percentile17.3%3.2%42.9%9.1%9.9%
Term Structure0.2%-1.3%3.1%0.2%1.0%
VWIV41.8%36.9%48.6%48.6%37.8%
Skew 25d4.2%0.6%17.6%7.5%5.0%
Skew 10d8.3%-7.4%18.4%15.1%4.8%
Call IV 25d39.7%31.6%42.9%39.9%36.2%
Put IV 25d43.8%39.4%50.5%47.5%41.2%
Bid-Ask Spread %49.1432.1192.1585.6954.40
Gamma HHI0.250.150.360.240.36
Net GEX380.8K141.8K550.6K163.8K550.6K
Net DEX-21.0M-27.4M-10.3M-10.3M-23.5M
Net VEX-21.5K-28.4K-12.2K-13.1K-22.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.190.011.410.050.24
Total Volume493.391871,44497158
Total OI5,856.3913,1437,1073,1666,645

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-03-01$50.53$33.0039.4%11.3%30.9%7.5%48.6%7.5%0.2%163.8K-10.3M-13.1K0.0585.69N/AN/A9252,727439
2021-03-02$50.24$33.0039.1%11.2%30.8%7.3%37.7%1.1%1.8%141.8K-10.3M-12.2K0.0191.89N/AN/A1,040102,708435
2021-03-03$50.63$33.0043.5%12.5%28.2%10.1%37.0%3.3%-0.1%198.0K-15.0M-15.9K0.1992.15N/AN/A8341603,744439
2021-03-04$48.75$40.0043.9%12.3%32.6%10.4%48.6%8.0%0.9%241.3K-15.0M-20.2K0.1148.39N/AN/A897954,234485
2021-03-05$50.63$40.0040.3%11.9%33.1%8.1%46.2%5.2%-0.4%243.9K-16.7M-18.2K0.0533.15N/AN/A429214,231499
2021-03-08$52.52$40.0045.7%12.1%34.8%11.5%41.1%2.7%-0.4%209.2K-18.8M-16.2K0.1432.11N/AN/A601824,292513
2021-03-09$51.94$40.0041.4%11.4%35.4%8.8%47.9%3.0%3.1%264.2K-18.7M-18.9K0.2133.85N/AN/A200434,532540
2021-03-10$53.33$40.0042.0%12.0%36.1%9.2%43.3%1.9%-0.5%233.7K-20.3M-16.1K0.0232.20N/AN/A1,413314,535565
2021-03-11$53.62$40.0041.1%11.8%36.0%8.6%43.9%2.6%-0.5%350.8K-23.9M-21.2K0.0632.50N/AN/A912515,431573
2021-03-12$54.58$40.0040.4%11.6%36.1%8.1%42.6%2.9%-0.5%390.2K-27.1M-22.8K0.1436.50N/AN/A320465,954588
2021-03-15$54.23$40.0041.0%11.8%36.5%8.6%43.0%3.3%-1.3%419.9K-27.4M-21.3K0.0836.77N/AN/A125106,109610
2021-03-16$53.77$40.0040.1%11.5%36.5%8.0%43.4%3.9%-0.9%458.2K-26.6M-24.0K1.4140.93N/AN/A1522146,135614
2021-03-17$53.99$40.0038.9%11.1%36.4%7.2%40.8%3.4%-1.2%413.5K-27.1M-21.7K0.3753.36N/AN/A197726,150824
2021-03-18$53.83$40.0042.3%12.1%36.4%9.4%43.9%3.4%-0.8%423.0K-26.7M-23.7K0.5450.28N/AN/A2311246,219888
2021-03-19$52.69$40.0038.5%11.0%37.6%7.4%41.1%0.6%2.7%358.8K-24.2M-25.0K0.0643.72N/AN/A1,057596,131954
2021-03-22$51.64$40.0038.3%11.0%38.2%8.4%39.7%3.3%1.1%488.6K-20.4M-26.6K0.0545.41N/AN/A422215,671664
2021-03-23$50.33$40.0040.3%11.6%39.1%10.7%39.8%4.1%1.0%538.5K-18.4M-28.4K0.2045.51N/AN/A285565,836671
2021-03-24$51.10$40.0039.3%11.3%37.3%12.5%40.0%4.0%-1.1%542.7K-19.7M-28.2K0.1041.75N/AN/A218215,863715
2021-03-25$51.99$40.0037.3%10.7%34.9%10.3%38.6%3.9%1.4%547.5K-21.6M-27.0K0.1048.51N/AN/A208215,922720
2021-03-26$53.31$40.0037.3%10.7%34.9%11.2%36.9%2.1%-0.7%504.0K-24.1M-24.0K0.1344.27N/AN/A174235,931704
2021-03-29$53.32$40.0040.4%11.6%32.9%14.8%40.0%17.6%-1.0%545.6K-23.5M-23.0K0.0763.88N/AN/A12385,903708
2021-03-30$53.57$40.0037.9%10.9%32.7%12.0%38.5%3.6%0.3%531.0K-24.4M-22.9K0.1443.05N/AN/A76115,938708
2021-03-31$53.01$40.0038.6%11.1%33.0%13.2%37.8%5.0%1.0%550.6K-23.5M-22.8K0.2454.40N/AN/A127315,927718