EWP Options History — November 2008

In November 2008, EWP traded between $28.74 and $36.53. ATM implied volatility averaged 51.8%, placing in the 30.4% IV rank vs the trailing year. The 30-day expected move averaged 15.1%. IV traded below realized volatility by 49.9% (HV 20d: 101.7%). Max pain ranged from $42.00 to $44.00. Net GEX was positive for 0 of 17 trading days. Term structure was in contango for 14 of 17 days. Put/call ratio averaged 6.75.

Notable Days

  • 2008-11-05: Highest Volume — 58 contracts
  • 2008-11-25: Largest IV spike — 61.6% change
  • 2008-11-25: Highest IV Rank — 56.3%
  • 2008-11-25: Largest Expected Move — 24.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.46$28.74$36.53$36.53$34.27
Max Pain$42.24$42.00$44.00$44.00$42.00
ATM IV51.8%38.0%84.7%52.4%54.2%
Expected Move15.1%10.9%24.3%15.0%15.5%
HV 20d101.7%88.9%111.7%106.9%88.9%
HV 60d78.2%71.6%83.6%71.6%83.5%
IV Rank30.4%19.6%56.3%30.9%32.3%
IV Percentile88.7%80.6%98.4%90.9%89.3%
Term Structure23.2%-24.5%47.6%-3.7%37.8%
VWIV49.8%36.6%67.4%50.8%45.5%
Skew 25d-13.0%-41.1%37.9%-3.2%-27.8%
Skew 10d-12.0%-41.1%37.8%15.7%-27.8%
Call IV 25d61.8%35.9%93.2%54.0%73.0%
Put IV 25d48.8%36.6%73.8%50.8%45.2%
Bid-Ask Spread %101.9262.53132.46104.69107.01
Gamma HHI0.270.200.340.200.34
Net GEX-7.7K-18.8K-147-13.9K-10.7K
Net DEX1.4M1.3M1.8M1.6M1.4M
Net VEX-476-1.2K-52-1.2K-405
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio6.750.0013.5013.500.00
Total Volume4.941058580
Total OI687.353643774726653

Daily Data (17 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-11-05$36.53$44.0052.4%15.0%106.9%30.9%50.8%-3.2%-3.7%-13.9K1.6M-1.2K13.50104.69N/AN/A454229497
2008-11-06$34.14$44.0038.0%10.9%108.2%19.6%36.6%-2.9%9.6%-9.5K1.7M-6260.00106.05N/AN/A09232538
2008-11-07$36.34$42.0054.8%16.9%111.3%32.8%0.0%37.9%-9.3%-18.8K1.8M-1.1K0.00112.32N/AN/A00232542
2008-11-10$34.93$42.0042.8%14.8%111.7%23.4%0.0%6.3%7.8%-12.2K1.7M-8290.0069.87N/AN/A00232542
2008-11-11$33.75$42.0044.8%14.3%109.1%25.0%0.0%3.6%14.4%-7.6K1.4M-4680.0089.30N/AN/A00232442
2008-11-12$32.40$42.0056.6%14.7%109.3%34.2%0.0%12.0%39.7%-7.5K1.3M-5310.00105.00N/AN/A10232440
2008-11-13$35.72$42.0052.4%15.0%104.0%30.9%0.0%8.1%6.0%-13.3K1.4M-8280.0062.53N/AN/A00232440
2008-11-14$33.58$42.0054.3%15.6%105.6%32.4%0.0%1.4%20.9%-4761.5M-1390.00102.00N/AN/A00232440
2008-11-17$32.44$42.0049.6%14.2%100.0%28.7%47.5%-31.4%41.4%-6.9K1.4M-4150.00105.69N/AN/A01232440
2008-11-18$32.43$42.0049.3%14.1%95.4%28.5%67.4%-29.5%41.5%-6.8K1.4M-3990.00104.99N/AN/A01232440
2008-11-19$30.38$42.0043.8%12.6%97.3%24.2%51.3%-37.7%47.6%-2271.3M-520.00105.00N/AN/A03232441
2008-11-20$28.74$42.0049.8%14.3%96.5%28.9%0.0%-41.1%47.1%-1471.3M-520.00104.16N/AN/A01232444
2008-11-21$31.17$42.0060.7%17.4%100.2%37.4%0.0%-32.5%43.1%-2811.4M-820.00105.11N/AN/A00232444
2008-11-24$33.16$42.0052.4%15.0%95.2%30.9%0.0%-31.2%38.4%-7.5K1.3M-3340.00107.17N/AN/A00232411
2008-11-25$34.29$42.0084.7%24.3%96.0%56.3%0.0%-26.7%-24.5%-10.8K1.3M-5120.00132.46N/AN/A00232411
2008-11-26$34.47$42.0040.1%11.5%93.4%21.3%45.5%-27.0%35.8%-4.0K1.4M-1470.00109.27N/AN/A010232411
2008-11-28$34.27$42.0054.2%15.5%88.9%32.3%0.0%-27.8%37.8%-10.7K1.4M-4050.00107.01N/AN/A00232421