HYG Options History — April 2008

In April 2008, HYG traded between $96.33 and $99.48. ATM implied volatility averaged 8.3%, placing in the 5.4% IV rank vs the trailing year. The 30-day expected move averaged 2.3%. IV traded above realized volatility by 1.2% (HV 20d: 7.1%). Max pain ranged from $94.00 to $97.00. Net GEX was positive for 19 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.11.

Notable Days

  • 2008-04-18: Highest Volume — 46 contracts
  • 2008-04-07: Largest IV spike — 200.5% change
  • 2008-04-07: Highest IV Rank — 20.8%
  • 2008-04-07: Largest Expected Move — 5.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$97.63$96.33$99.48$96.45$99.29
Max Pain$95.64$94.00$97.00$94.00$97.00
ATM IV8.3%4.2%19.8%12.5%7.1%
Expected Move2.3%1.5%5.6%3.6%2.0%
HV 20d7.1%6.7%8.1%6.7%7.0%
HV 60d7.4%7.0%7.8%7.8%7.1%
IV Rank5.4%0.0%20.8%9.8%4.2%
IV Percentile14.0%0.0%84.3%46.1%5.2%
Term Structure0.6%-1.6%3.0%2.2%1.2%
VWIV9.1%6.4%12.8%12.8%6.7%
Skew 25d0.5%-1.9%3.4%0.1%0.3%
Skew 10d2.3%0.2%7.8%1.2%3.7%
Call IV 25d7.4%4.5%21.1%12.3%7.4%
Put IV 25d7.9%5.7%21.4%12.3%7.7%
Bid-Ask Spread %134.4684.54183.0188.35156.73
Gamma HHI0.370.250.560.250.29
Net GEX47.9K-10.3K147.3K-7.2K35.9K
Net DEX146.8K-82.9K381.1K314.4K85.5K
Net VEX-2.7K-3.7K-1.3K-3.3K-2.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.110.000.400.400.05
Total Volume6.504600
Total OI256.909194312265194

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2008-04-01$96.45$94.0012.5%3.6%6.7%9.8%0.0%0.1%2.2%-7.2K314.4K-3.3K0.0088.3500116149
2008-04-02$96.50$94.0013.3%3.8%6.7%10.9%12.8%-1.9%2.4%-689353.1K-3.4K0.0084.5403116149
2008-04-03$96.33$95.0012.9%3.7%6.7%10.3%12.1%3.4%3.0%-10.3K381.1K-3.3K0.0099.4602116152
2008-04-04$96.70$95.006.6%1.9%6.7%0.8%6.4%0.7%-0.1%367275.7K-2.4K0.40131.09156116154
2008-04-07$97.47$95.0019.8%5.6%7.1%20.8%0.0%0.2%-1.6%700118.7K-3.7K0.00183.0100131160
2008-04-08$97.80$95.0011.3%1.5%7.1%7.8%0.0%1.1%-0.7%33.6K50.6K-1.6K0.00128.9500131160
2008-04-09$96.95$95.004.2%2.0%7.9%0.0%0.0%-0.3%-0.6%128.5K227.7K-2.9K0.00130.7102131160
2008-04-10$97.30$95.007.1%2.0%7.9%4.2%0.0%0.2%0.6%14.4K61.0K-2.7K0.00125.35220131158
2008-04-11$96.52$95.007.1%2.0%8.1%4.3%0.0%0.7%1.1%69.5K211.0K-3.0K0.00123.0600153158
2008-04-14$96.86$95.007.0%2.0%7.7%4.1%0.0%-0.7%0.5%87.0K61.4K-2.3K0.00130.5701153158
2008-04-15$96.85$95.007.0%2.0%7.0%4.0%0.0%-0.4%0.5%144.6K128.0K-2.8K0.00133.9000153159
2008-04-16$97.27$95.007.3%2.1%7.1%4.5%0.0%1.3%0.7%147.3K-37.5K-2.9K0.00142.4400153159
2008-04-17$97.37$95.007.1%2.0%7.1%4.2%0.0%1.1%0.4%111.8K-32.8K-2.8K0.00143.10250153159
2008-04-18$98.03$95.006.7%1.9%7.3%3.6%7.6%0.4%1.4%48.3K-82.9K-2.8K0.05133.98442128159
2008-04-21$97.87$97.006.7%1.9%6.9%3.6%0.0%1.0%1.8%4.8K320.2K-2.7K0.00127.510087118
2008-04-22$98.00$97.007.2%2.1%6.9%4.4%6.7%0.4%0.1%15.8K318.9K-2.7K0.00142.1101087118
2008-04-23$98.40$97.006.8%1.9%6.9%3.8%0.0%0.8%-0.7%36.2K202.2K-2.4K0.00146.180687108
2008-04-24$98.43$97.006.7%1.9%6.7%3.6%0.0%1.5%0.1%58.4K58.2K-1.3K0.00147.850087108
2008-04-25$98.90$97.006.1%1.7%6.9%2.8%0.0%1.9%-0.2%54.2K127.8K-2.4K0.00152.450187108
2008-04-28$99.48$97.006.8%2.0%7.0%3.8%0.0%-0.5%-0.7%43.6K18.6K-2.5K0.00156.430287107
2008-04-29$99.19$97.006.5%1.9%7.0%3.4%0.0%0.2%0.6%37.5K67.6K-2.4K0.00150.440287107
2008-04-30$99.29$97.007.1%2.0%7.0%4.2%0.0%0.3%1.2%35.9K85.5K-2.4K0.00156.730087107