DIA Options History — July 2008

In July 2008, DIA traded between $109.30 and $116.23. ATM implied volatility averaged 21.6%, placing in the 59.9% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 2.1% (HV 20d: 19.5%). Max pain ranged from $112.00 to $119.00. Net GEX was positive for 8 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 1.11.

Notable Days

  • 2008-07-01: Highest Volume — 243,520 contracts
  • 2008-07-08: Largest IV drop — 14.4% change
  • 2008-07-15: Highest IV Rank — 86.0%
  • 2008-07-15: Largest Expected Move — 7.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$113.13$109.30$116.23$113.77$113.70
Max Pain$114.36$112.00$119.00$119.00$114.00
ATM IV21.6%18.2%26.1%20.6%20.5%
Expected Move6.2%5.2%7.5%5.9%5.9%
HV 20d19.5%16.1%23.1%19.8%23.1%
HV 60d17.1%15.8%19.2%16.2%19.2%
IV Rank59.9%39.6%86.0%54.6%53.2%
IV Percentile67.9%33.7%97.6%64.7%57.9%
Term Structure-0.0%-1.5%1.2%1.2%0.1%
VWIV21.9%19.2%25.6%21.2%20.3%
Skew 25d5.3%4.1%6.6%4.4%4.4%
Skew 10d9.8%7.7%12.2%8.1%7.8%
Call IV 25d19.1%16.3%22.8%18.6%18.6%
Put IV 25d24.5%21.0%29.2%23.1%23.0%
Bid-Ask Spread %4.082.099.193.112.57
Gamma HHI0.120.050.530.080.05
Net GEX-51.9M-187.2M59.5M-76.7M22.5M
Net DEX2.45B902.6M4.38B2.77B1.87B
Net VEX-21.3M-23.6M-15.9M-20.6M-23.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.110.632.080.791.23
Total Volume155,380.18282,400243,520243,520142,845
Total OI1,556,024.4551,350,2141,789,7741,404,1431,573,985

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2008-07-01$113.77$119.0020.6%5.9%19.8%54.6%21.2%4.4%1.2%-76.7M2.77B-20.6M0.793.11135,812107,708704,697699,446
2008-07-02$112.15$118.0023.2%6.7%20.0%69.6%22.7%5.1%0.6%-75.7M3.20B-20.6M1.064.2576,10980,609763,020719,427
2008-07-03$113.05$118.0021.4%6.1%18.9%58.9%21.6%4.1%1.2%-80.5M3.04B-20.9M1.113.7770,57378,152771,820738,571
2008-07-07$112.21$116.0023.0%6.6%16.1%68.1%22.9%6.2%-0.7%-104.3M3.34B-20.2M1.255.10101,221126,863785,327760,550
2008-07-08$113.74$115.0019.7%5.9%16.9%48.2%21.8%5.8%-0.1%-97.3M2.74B-20.9M1.605.6081,927131,483801,936798,938
2008-07-09$111.60$115.0022.2%6.6%17.7%63.3%23.5%5.7%-0.5%-128.9M3.50B-20.4M1.294.1669,87490,315817,570811,038
2008-07-10$112.22$115.0023.4%6.7%17.5%70.3%24.5%5.8%-0.7%-107.7M3.18B-20.8M2.083.4875,019155,693824,772811,457
2008-07-11$111.00$115.0024.8%7.1%17.4%78.4%24.4%6.6%-1.1%-139.8M3.69B-20.7M1.024.2790,88492,398829,666841,306
2008-07-14$110.50$114.0026.1%7.5%16.3%85.9%25.6%6.6%-1.5%-122.3M3.29B-15.9M1.193.6989,742106,660732,669705,885
2008-07-15$109.30$114.0026.1%7.5%16.4%86.0%25.6%6.5%-1.2%-168.2M4.38B-19.5M1.109.1982,93190,816879,620864,992
2008-07-16$112.17$113.0022.6%6.5%19.9%65.7%22.9%6.0%-0.3%-104.0M3.07B-21.1M0.704.81100,23870,203895,751870,332
2008-07-17$114.14$112.0022.2%6.4%21.0%62.9%22.4%5.9%-0.4%-14.1M1.91B-22.1M0.727.77113,76781,465918,247871,527
2008-07-18$114.95$112.0021.2%6.1%21.2%57.0%21.9%5.6%0.2%-187.2M1.65B-22.7M1.014.8444,12744,519902,166877,752
2008-07-21$114.65$112.0020.2%5.8%20.1%51.5%20.6%5.6%0.2%25.1M1.42B-21.8M0.632.9451,54732,565692,891657,323
2008-07-22$115.70$113.0018.2%5.2%20.5%39.6%19.3%4.7%0.8%40.2M1.08B-22.2M1.133.6360,61068,625719,955644,992
2008-07-23$116.23$114.0018.9%5.4%20.5%43.4%19.2%5.0%0.6%38.7M910.7M-23.6M0.872.9060,71552,839750,453696,343
2008-07-24$113.60$114.0020.5%5.9%22.0%53.4%20.5%4.9%0.3%20.9M1.78B-22.7M1.262.8749,33662,246760,676705,469
2008-07-25$113.17$113.0020.3%5.8%19.8%51.9%20.0%4.9%0.6%20.0M1.95B-22.5M1.143.2938,47743,923767,462713,758
2008-07-28$111.34$114.0022.2%6.4%20.2%63.2%21.2%4.5%-0.1%-2.3M2.57B-21.0M1.012.0951,38751,829777,804721,225
2008-07-29$113.85$113.0019.6%5.6%21.9%48.0%20.0%4.2%0.2%41.0M1.69B-22.2M0.912.8750,22045,930794,857725,289
2008-07-30$115.82$113.0019.2%5.5%22.7%45.6%20.1%4.3%0.2%59.5M902.6M-23.4M1.352.5570,63995,523796,980734,594
2008-07-31$113.70$114.0020.5%5.9%23.1%53.2%20.3%4.4%0.1%22.5M1.87B-23.0M1.232.5764,15378,692806,462767,523