IWM Options History — April 2009

In April 2009, IWM traded between $42.78 and $48.97. ATM implied volatility averaged 46.0%, placing in the 33.8% IV rank vs the trailing year. The 30-day expected move averaged 13.4%. IV traded below realized volatility by 6.7% (HV 20d: 52.7%). Max pain ranged from $41.00 to $46.00. Net GEX was positive for 1 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 1.76.

Notable Days

  • 2009-04-17: Highest Volume — 367,877 contracts
  • 2009-04-20: Largest IV spike — 14.1% change
  • 2009-04-02: Highest IV Rank — 39.0%
  • 2009-04-02: Largest Expected Move — 14.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.21$42.78$48.97$42.78$48.52
Max Pain$44.19$41.00$46.00$41.00$46.00
ATM IV46.0%42.3%50.1%49.4%43.3%
Expected Move13.4%12.2%14.4%14.2%12.4%
HV 20d52.7%42.8%60.7%60.7%44.4%
HV 60d50.9%49.3%52.7%50.9%49.9%
IV Rank33.8%29.1%39.0%38.1%30.4%
IV Percentile56.8%43.3%72.2%70.6%43.7%
Term Structure-0.3%-1.5%1.1%0.2%-0.1%
VWIV47.9%43.5%51.3%51.1%44.8%
Skew 25d7.5%6.0%9.7%7.4%7.4%
Skew 10d14.8%11.2%19.2%15.2%14.6%
Call IV 25d43.3%39.0%47.2%46.1%41.2%
Put IV 25d50.8%46.8%54.0%53.5%48.6%
Bid-Ask Spread %3.922.706.655.053.32
Gamma HHI0.050.040.090.050.05
Net GEX-19.5M-36.7M2.9M-19.5M-22.1M
Net DEX604.8M-462.8M1.53B1.53B148.2M
Net VEX-28.6M-31.1M-26.5M-31.1M-30.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.760.912.882.882.22
Total Volume257,723.714147,660367,877175,944230,563
Total OI4,280,912.6673,903,3524,739,5314,218,0564,739,531

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-04-01$42.78$41.0049.4%14.2%60.7%38.1%51.1%7.4%0.2%-19.5M1.53B-31.1M2.885.0545,349130,5951,784,1362,433,920
2009-04-02$44.92$41.0050.1%14.4%57.7%39.0%51.3%6.9%-0.0%-10.4M615.4M-27.1M1.506.65119,099178,9111,620,2672,283,085
2009-04-03$45.63$43.0045.9%13.9%57.7%33.6%49.9%7.7%-1.5%-10.0M378.1M-27.7M2.354.1558,229137,0731,649,6292,357,811
2009-04-06$44.85$44.0047.1%14.2%57.2%35.3%51.1%7.0%-1.3%-17.8M822.0M-27.1M2.793.8155,522154,6461,659,2142,378,324
2009-04-07$43.26$44.0045.6%14.2%56.6%33.3%49.6%6.7%-0.1%-28.6M1.53B-26.5M1.613.6258,97194,9581,672,4782,437,226
2009-04-08$44.06$44.0042.3%13.6%56.6%29.1%47.8%6.5%0.2%-26.4M1.23B-26.7M1.363.9579,080107,5961,684,5702,462,779
2009-04-09$46.64$44.0044.8%12.8%56.2%32.2%45.8%6.1%0.1%-3.3M-84.5M-27.7M1.413.44143,282202,4351,707,2222,478,745
2009-04-13$46.66$44.0047.0%13.5%56.3%35.1%48.9%6.0%-1.5%-5.7M-29.7M-27.6M1.873.2496,454179,9151,728,3832,515,167
2009-04-14$45.31$44.0047.9%13.7%57.1%36.3%47.0%6.0%-0.8%-16.4M532.5M-26.9M1.253.71107,450134,7951,755,5842,542,399
2009-04-15$46.00$44.0046.0%13.2%55.5%33.8%47.1%6.5%0.3%-15.3M338.1M-27.5M1.913.0391,300174,3501,782,1682,619,621
2009-04-16$47.33$44.0044.2%12.7%55.2%31.6%45.8%6.7%0.2%-5.7M-270.8M-28.3M1.193.55150,071178,0771,796,6622,702,482
2009-04-17$47.75$45.0042.6%12.2%54.8%29.5%43.5%6.9%0.8%2.9M-462.8M-28.5M0.913.19192,953174,9241,828,4632,744,350
2009-04-20$45.30$45.0048.6%13.9%56.9%37.1%49.7%8.7%-1.1%-36.7M1.47B-27.9M2.213.7297,979216,3801,646,4222,346,066
2009-04-21$46.87$45.0046.1%13.2%50.7%33.9%47.4%8.3%-0.9%-31.5M932.9M-29.0M1.563.92138,281216,3341,682,6932,424,617
2009-04-22$46.86$45.0046.6%13.4%48.1%34.6%47.5%8.5%-0.3%-30.2M1.00B-29.3M1.285.38127,077162,5191,739,2572,462,910
2009-04-23$46.75$45.0046.1%13.2%47.7%33.9%47.6%8.5%-0.6%-30.1M1.07B-29.3M1.983.91111,272220,4351,773,0222,485,172
2009-04-24$47.62$45.0044.8%12.8%46.4%32.2%46.7%9.0%0.6%-24.8M431.6M-30.3M1.875.9958,910110,4311,820,5112,591,557
2009-04-27$47.11$45.0047.8%13.7%44.6%36.1%50.0%9.7%-1.0%-33.1M881.5M-30.2M1.583.3065,727104,1721,835,8322,629,093
2009-04-28$47.18$45.0047.0%13.5%42.8%35.0%49.0%9.3%-0.8%-32.3M819.0M-30.4M1.782.7053,09894,5621,879,4412,656,341
2009-04-29$48.97$45.0042.5%12.2%44.2%29.3%44.5%8.1%1.1%-12.5M-185.4M-30.5M1.372.70150,986207,4371,888,2222,673,794
2009-04-30$48.52$46.0043.3%12.4%44.4%30.4%44.8%7.4%-0.1%-22.1M148.2M-30.8M2.223.3271,602158,9611,961,8672,777,664