EWP Options History — January 2009

In January 2009, EWP traded between $30.23 and $38.31. ATM implied volatility averaged 61.5%, placing in the 36.1% IV rank vs the trailing year. The 30-day expected move averaged 14.3%. IV traded above realized volatility by 16.4% (HV 20d: 45.0%). Max pain ranged from $40.00 to $52.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 7.50.

Notable Days

  • 2009-01-23: Highest Volume — 31 contracts
  • 2009-01-12: Largest IV spike — 142.1% change
  • 2009-01-13: Highest IV Rank — 100.0%
  • 2009-01-29: Largest Expected Move — 24.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.98$30.23$38.31$38.31$31.32
Max Pain$40.60$40.00$52.00$52.00$40.00
ATM IV61.5%28.0%150.4%78.5%46.1%
Expected Move14.3%8.0%24.4%22.5%13.2%
HV 20d45.0%33.9%55.5%42.2%55.3%
HV 60d74.6%65.3%82.3%82.3%65.3%
IV Rank36.1%11.7%100.0%51.5%24.0%
IV Percentile79.2%42.9%100.0%96.0%71.4%
Term Structure-0.1%-37.4%27.8%-17.0%3.5%
VWIV50.3%38.9%70.4%52.1%70.4%
Skew 25d2.2%-39.1%64.9%-36.1%6.2%
Skew 10d7.5%-54.2%58.2%-51.6%20.8%
Call IV 25d52.1%26.9%107.7%101.0%42.0%
Put IV 25d54.3%29.2%95.5%64.8%48.2%
Bid-Ask Spread %107.7446.31169.01129.0880.79
Gamma HHI0.560.240.780.270.50
Net GEX647-2.6K2.6K-2.6K1.1K
Net DEX438.4K286784.6K784.6K114.9K
Net VEX-82-187-12-129-65
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.500.0030.000.000.00
Total Volume3.103100
Total OI278.852846443880

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-01-02$38.31$52.0078.5%22.5%42.2%51.5%0.0%-36.1%0.0%-2.6K784.6K-1290.00129.08N/AN/A00226212
2009-01-05$37.90$40.0085.9%13.8%40.7%57.3%52.1%-39.1%-17.0%-395770.4K-1480.00166.67N/AN/A100242212
2009-01-06$38.11$40.0028.0%10.7%40.5%11.7%0.0%2.3%3.1%2.6K772.5K-1510.0046.31N/AN/A00252212
2009-01-07$37.65$40.0052.7%14.2%38.7%31.2%0.0%47.4%-18.5%1.7K762.0K-1500.00169.01N/AN/A00252212
2009-01-08$37.93$40.0028.4%10.6%38.2%12.0%0.0%2.0%-0.9%2.6K769.6K-1510.0048.48N/AN/A00252212
2009-01-09$36.38$40.0035.0%9.9%39.7%17.2%0.0%6.0%6.5%1.9K755.2K-940.0085.28N/AN/A00252212
2009-01-12$35.50$40.0084.8%11.0%40.5%56.4%0.0%3.7%6.3%1.5K739.6K-810.0062.35N/AN/A00252212
2009-01-13$34.69$40.00150.4%12.9%40.9%100.0%0.0%13.1%11.3%1.1K725.2K-670.00127.22N/AN/A00252212
2009-01-14$33.09$40.0081.2%8.0%43.2%49.6%0.0%-11.9%27.8%23700.4K-120.00105.63N/AN/A00252212
2009-01-15$33.46$40.0029.3%8.4%34.3%11.8%0.0%-10.5%27.6%50708.1K-120.00107.25N/AN/A00252212
2009-01-16$33.44$40.0041.9%12.0%33.9%20.9%0.0%-10.8%27.5%365706.2K-240.00136.30N/AN/A00252212
2009-01-20$30.23$40.0050.0%14.3%46.4%26.8%0.0%-1.0%2.7%1734.2K-160.0095.22N/AN/A00262
2009-01-21$31.82$40.0051.3%14.7%51.7%27.8%0.0%1.7%-0.6%538286-410.0070.36N/AN/A00262
2009-01-22$30.93$40.0052.2%15.0%52.1%28.4%42.3%2.3%-0.9%3821.7K-320.0075.58N/AN/A010262
2009-01-23$30.94$40.0052.3%15.0%50.6%28.5%38.9%1.6%-0.9%19032.2K-3530.0069.85N/AN/A1302612
2009-01-26$31.42$40.0049.7%14.3%50.9%26.7%47.6%2.9%0.5%-361121.0K-630.00101.65N/AN/A1002742
2009-01-27$31.85$40.0073.9%21.2%51.3%44.3%0.0%4.9%-23.9%1.4K117.2K-650.00164.73N/AN/A003742
2009-01-28$33.22$40.0072.7%20.9%54.1%43.4%70.4%-5.0%-19.4%561104.7K-1180.00159.91N/AN/A103742
2009-01-29$31.36$40.0085.2%24.4%55.5%52.5%0.0%64.9%-37.4%4778.5K-1870.00153.05N/AN/A003842
2009-01-30$31.32$40.0046.1%13.2%55.3%24.0%0.0%6.2%3.5%1.1K114.9K-650.0080.79N/AN/A003842