LQD Options History — February 2009

In February 2009, LQD traded between $94.16 and $99.36. ATM implied volatility averaged 10.6%, placing in the 9.2% IV rank vs the trailing year. The 30-day expected move averaged 3.1%. IV traded below realized volatility by 1.8% (HV 20d: 12.4%). Max pain ranged from $96.00 to $101.00. Net GEX was positive for 2 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 7.86.

Notable Days

  • 2009-02-19: Highest Volume — 1,315 contracts
  • 2009-02-09: Largest IV drop — 25.0% change
  • 2009-02-27: Highest IV Rank — 10.5%
  • 2009-02-27: Largest Expected Move — 3.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$97.78$94.16$99.36$98.85$94.16
Max Pain$97.11$96.00$101.00$101.00$96.00
ATM IV10.6%8.5%11.6%11.3%11.6%
Expected Move3.1%2.8%3.3%3.2%3.3%
HV 20d12.4%9.5%13.9%13.9%9.5%
HV 60d13.3%13.2%13.7%13.7%13.5%
IV Rank9.2%6.2%10.5%10.2%10.5%
IV Percentile57.5%42.9%62.7%61.9%62.7%
Term Structure0.2%-0.7%2.3%0.4%-0.5%
VWIV10.6%8.3%13.5%11.9%9.2%
Skew 25d0.5%-4.5%2.9%-4.5%0.0%
Skew 10d0.8%-3.8%4.1%-1.4%1.2%
Call IV 25d10.3%8.6%13.9%13.9%10.5%
Put IV 25d10.8%7.9%12.7%9.4%10.5%
Bid-Ask Spread %111.89103.79136.09105.05104.66
Gamma HHI0.410.140.790.150.67
Net GEX-1.4M-3.2M228.5K228.5K-2.2M
Net DEX4.0M-3.8M18.6M-3.8M18.6M
Net VEX-39.9K-48.3K-28.6K-29.8K-34.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.860.0068.212.310.67
Total Volume245.52601,31586180
Total OI4,411.4742,8275,6082,8275,199

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-02-02$98.85$101.0011.3%3.2%13.9%10.2%11.9%-4.5%0.4%228.5K-3.8M-29.8K2.31105.0526601,5901,237
2009-02-03$98.52$101.0010.6%3.0%13.6%9.2%13.5%-1.1%2.3%147.3K-2.3M-28.6K25.02112.95411,0261,5961,297
2009-02-04$98.56$101.009.8%2.8%13.5%8.0%0.0%-1.7%1.7%-679.0K295.0K-42.5K2.55136.0922561,5982,286
2009-02-05$97.70$101.0010.0%2.9%13.6%8.3%12.3%-0.1%0.2%-843.2K2.4M-42.3K0.90115.9599891,6202,342
2009-02-06$98.28$96.0011.3%3.1%13.5%10.2%10.5%0.7%0.7%-684.5K735.4K-46.6K0.03116.073311,6942,391
2009-02-09$98.46$96.008.5%3.1%12.5%6.2%8.3%1.3%0.4%-812.5K38.2K-42.9K0.22120.8945101,7272,392
2009-02-10$98.94$96.0010.5%3.0%12.7%9.0%12.0%1.6%0.4%-671.8K-944.6K-36.4K25.88104.86174401,7082,392
2009-02-11$99.28$96.009.7%3.1%12.8%7.9%0.0%1.0%0.2%-644.7K-918.6K-40.8K0.00111.43001,7232,632
2009-02-12$99.36$96.0010.9%3.1%12.8%9.6%8.9%0.5%-0.4%-632.3K-1.3M-40.3K0.00108.884201,7232,632
2009-02-13$98.60$96.0010.3%3.0%12.9%8.7%9.0%1.1%0.2%-1.1M558.5K-36.7K5.60108.805281,7552,632
2009-02-17$99.14$96.0010.8%3.1%13.2%9.4%10.0%1.7%0.1%-805.8K-398.9K-37.8K0.00110.122701,7572,640
2009-02-18$98.65$96.0010.6%3.0%12.2%9.2%9.6%0.4%-0.2%-1.3M54.7K-35.1K0.75109.5336271,7552,640
2009-02-19$97.84$96.0010.8%3.1%12.4%9.5%13.0%1.4%-0.5%-1.5M3.3M-35.2K68.21107.77191,2961,7582,636
2009-02-20$97.43$96.0011.3%3.2%12.5%10.2%12.1%2.2%-0.7%-2.6M9.5M-48.3K2.57112.4828721,7753,833
2009-02-23$97.10$96.0010.4%3.0%12.3%9.0%10.3%1.8%0.7%-3.0M8.7M-46.8K0.43115.5637161,4993,608
2009-02-24$96.75$96.0011.2%3.2%12.0%10.0%9.6%-2.0%-0.4%-2.8M9.2M-47.1K1.94112.61521011,5223,624
2009-02-25$95.43$97.0011.5%3.3%10.5%10.4%10.6%2.9%-0.5%-3.2M14.5M-44.5K4.11103.791044271,5463,659
2009-02-26$94.82$96.0010.5%3.0%10.0%9.0%9.6%2.1%-0.1%-3.1M18.2M-41.8K0.36108.42149541,5813,819
2009-02-27$94.16$96.0011.6%3.3%9.5%10.5%9.2%0.0%-0.5%-2.2M18.6M-34.3K0.67104.66108721,7053,494