DIA Options History — April 2008

In April 2008, DIA traded between $123.17 and $128.80. ATM implied volatility averaged 18.6%, placing in the 48.2% IV rank vs the trailing year. The 30-day expected move averaged 5.4%. IV traded below realized volatility by 1.4% (HV 20d: 20.0%). Max pain ranged from $120.00 to $126.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 20 of 22 days. Put/call ratio averaged 0.99.

Notable Days

  • 2008-04-11: Highest Volume — 194,255 contracts
  • 2008-04-16: Largest IV drop — 14.3% change
  • 2008-04-14: Highest IV Rank — 65.2%
  • 2008-04-14: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$126.56$123.17$128.80$126.07$128.19
Max Pain$122.82$120.00$126.00$123.00$126.00
ATM IV18.6%16.3%21.8%20.0%17.5%
Expected Move5.4%4.7%6.3%5.7%5.0%
HV 20d20.0%13.1%25.7%25.7%13.1%
HV 60d20.4%19.0%21.8%21.8%19.0%
IV Rank48.2%34.2%65.2%56.4%41.1%
IV Percentile51.0%35.3%75.0%61.1%42.1%
Term Structure0.6%-0.3%1.3%0.8%0.6%
VWIV19.2%16.7%21.8%21.0%17.1%
Skew 25d4.9%3.6%5.7%5.7%4.1%
Skew 10d9.0%7.2%10.1%9.9%7.8%
Call IV 25d16.5%14.5%19.0%17.1%15.5%
Put IV 25d21.4%18.1%24.5%22.7%19.6%
Bid-Ask Spread %3.952.389.102.793.41
Gamma HHI0.070.040.150.050.05
Net GEX77.0M25.5M167.2M72.0M60.6M
Net DEX-1.07B-1.69B148.3M-1.35B-1.05B
Net VEX-25.0M-25.9M-24.4M-25.5M-25.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.990.351.490.881.49
Total Volume93,696.541,760194,255145,921123,464
Total OI1,460,304.8181,238,1361,653,0001,381,3201,400,398

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2008-04-01$126.07$123.0020.0%5.7%25.7%56.4%21.0%5.7%0.8%72.0M-1.35B-25.5M0.882.7977,80968,112689,479691,841
2008-04-02$126.19$123.0020.1%5.8%25.7%56.8%20.0%5.2%1.1%65.3M-1.25B-25.7M1.333.3335,30247,034703,257727,335
2008-04-03$126.33$123.0020.2%5.8%25.7%57.5%20.5%4.7%1.3%66.1M-1.23B-25.9M1.062.3828,46930,121713,061742,368
2008-04-04$126.10$120.0019.1%6.0%24.8%51.8%20.6%5.5%0.4%71.0M-1.04B-25.1M0.834.1650,79942,334714,186749,964
2008-04-07$126.05$120.0018.9%5.8%23.9%50.9%21.3%5.4%0.0%86.6M-1.21B-24.9M0.913.8450,74346,366738,031759,157
2008-04-08$126.13$121.0018.4%5.8%23.6%48.0%20.7%5.4%0.2%85.3M-1.23B-25.1M0.964.4530,22228,970753,238773,622
2008-04-09$125.65$121.0018.3%5.9%20.7%47.7%21.1%5.5%-0.2%82.9M-1.08B-25.6M1.104.1443,90648,315767,258782,267
2008-04-10$125.95$121.0019.9%5.7%20.6%55.1%19.9%5.3%0.2%104.1M-1.20B-25.6M0.944.4139,75137,459781,812793,552
2008-04-11$123.34$122.0021.4%6.1%22.1%63.0%20.9%5.5%0.0%25.5M137.4M-24.8M0.934.95100,60893,647790,344800,122
2008-04-14$123.17$122.0021.8%6.3%21.6%65.2%21.8%5.5%-0.3%27.2M148.3M-24.4M0.923.8256,17751,811794,132802,074
2008-04-15$123.48$122.0020.9%6.0%21.6%60.4%21.3%5.2%0.1%41.1M-21.0M-24.6M1.363.9231,93743,542805,525814,146
2008-04-16$126.64$122.0017.9%5.1%20.3%44.7%19.0%5.1%0.7%157.6M-1.69B-24.4M0.774.9573,24356,684812,487826,386
2008-04-17$126.70$123.0018.0%5.1%18.6%44.9%18.7%4.9%0.8%167.2M-1.60B-24.5M0.354.0795,34933,002811,584841,416
2008-04-18$127.86$123.0017.1%4.9%18.3%40.6%17.4%5.1%1.0%150.7M-1.58B-24.5M0.814.9373,79659,885742,793836,322
2008-04-21$128.03$123.0017.5%5.0%17.2%42.4%17.5%5.0%1.0%52.4M-1.12B-24.6M0.763.8632,15224,342631,809608,244
2008-04-22$127.37$123.0018.0%5.2%17.4%43.8%18.2%4.7%0.6%43.4M-903.4M-24.4M1.103.1729,39332,310629,874608,262
2008-04-23$127.30$124.0017.7%5.1%16.9%41.9%17.6%4.5%0.9%49.6M-962.8M-24.8M1.092.4329,81332,414659,021629,060
2008-04-24$128.10$125.0016.8%4.8%16.8%37.1%17.2%4.3%1.2%67.8M-1.30B-25.0M1.219.1046,63556,421671,627644,523
2008-04-25$128.80$125.0016.3%4.7%16.4%34.2%16.7%3.6%0.9%77.7M-1.49B-25.0M0.902.8939,56135,800684,949658,672
2008-04-28$128.79$125.0016.6%4.7%16.4%35.8%17.1%4.2%0.7%74.0M-1.41B-24.9M0.713.0524,47617,284694,804672,495
2008-04-29$128.18$125.0017.5%5.0%13.1%41.1%17.3%4.0%0.3%65.1M-1.20B-25.0M1.292.7427,06934,796698,841676,368
2008-04-30$128.19$126.0017.5%5.0%13.1%41.1%17.1%4.1%0.6%60.6M-1.05B-25.0M1.493.4149,64773,817708,400691,998