PWB Options History — May 2007

In May 2007, PWB traded between $17.40 and $18.14. ATM implied volatility averaged 68.4%. The 30-day expected move averaged 19.3%. IV traded above realized volatility by 58.8% (HV 20d: 9.6%). Max pain ranged from $14.00 to $17.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.00.

Notable Days

  • 2007-05-02: Highest Volume — 2 contracts
  • 2007-05-21: Largest IV spike — 1055.9% change
  • 2007-05-31: Largest Expected Move — 48.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.72$17.40$18.14$17.50$18.14
Max Pain$14.41$14.00$17.00$17.00$14.00
ATM IV68.4%11.2%169.2%21.9%169.2%
Expected Move19.3%2.8%48.5%6.3%48.5%
HV 20d9.6%7.5%11.1%8.5%10.9%
HV 60d13.0%10.3%14.0%13.5%10.3%
Term Structure-25.8%-73.8%1.4%-6.8%-73.8%
Skew 25d3.4%-22.2%56.2%1.4%17.8%
Skew 10d12.8%1.2%65.1%7.1%17.8%
Call IV 25d60.9%10.4%157.3%21.1%105.6%
Put IV 25d64.3%12.6%196.3%22.5%123.4%
Bid-Ask Spread %152.16116.04192.03129.22190.11
Gamma HHI0.580.381.000.530.51
Net GEX2.7K3634.4K4.0K1.5K
Net DEX-178.3K-212.6K-133.3K-198.2K-137.9K
Net VEX-74-181-4-57-115
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.000.000.00
Total Volume0.0910200
Total OI113.364100121121100

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-05-01$17.50$17.0021.9%6.3%8.5%0.0%0.0%1.4%-6.8%4.0K-198.2K-570.00129.22N/AN/A001210
2007-05-02$17.63$17.0019.0%5.4%8.2%0.0%0.0%2.2%-5.1%3.5K-203.1K-480.00129.80N/AN/A201210
2007-05-03$17.65$17.0020.5%5.9%8.2%0.0%0.0%1.1%-12.4%3.1K-204.5K-390.00129.51N/AN/A001210
2007-05-04$17.68$14.0014.9%2.8%8.0%0.0%0.0%3.5%0.2%2.7K-208.1K-250.00119.41N/AN/A001210
2007-05-07$17.70$14.0022.8%4.2%7.9%0.0%0.0%1.5%-0.3%3.1K-205.7K-330.00126.27N/AN/A001210
2007-05-08$17.72$14.0023.8%4.3%7.9%0.0%0.0%1.9%-0.1%3.1K-205.9K-320.00136.38N/AN/A001210
2007-05-09$17.72$14.00111.2%31.9%7.5%0.0%0.0%-22.2%-54.7%4.0K-167.9K-1810.00191.15N/AN/A001210
2007-05-10$17.40$14.0013.0%3.7%10.0%0.0%0.0%0.0%-0.1%4.4K-199.0K-340.00118.74N/AN/A001210
2007-05-11$17.58$14.0015.3%4.4%10.5%0.0%0.0%0.6%-1.0%3.7K-203.2K-340.00125.32N/AN/A001210
2007-05-14$17.57$14.0016.0%4.6%9.9%0.0%0.0%1.6%-1.3%3.8K-203.5K-300.00128.09N/AN/A001210
2007-05-15$17.49$14.0017.0%4.9%9.9%0.0%0.0%1.4%1.4%4.3K-200.5K-330.00130.08N/AN/A001210
2007-05-16$17.65$14.00123.3%35.4%10.3%0.0%0.0%-12.4%-65.9%4.4K-168.9K-1550.00192.03N/AN/A001210
2007-05-17$17.68$14.0011.2%3.2%10.3%0.0%0.0%-0.2%0.8%1.9K-211.7K-60.00116.04N/AN/A001210
2007-05-18$17.77$14.0011.6%3.3%10.0%0.0%0.0%4.6%-0.7%1.7K-212.6K-50.00120.53N/AN/A001210
2007-05-21$17.80$14.00134.1%38.4%9.9%0.0%0.0%-19.1%-47.9%1.9K-138.7K-1360.00190.80N/AN/A001000
2007-05-22$17.84$14.00136.6%39.2%9.9%0.0%0.0%-21.3%-49.6%1.9K-139.2K-1330.00190.18N/AN/A001000
2007-05-23$17.90$14.00139.2%39.9%9.7%0.0%0.0%56.2%-51.3%1.6K-134.6K-1400.00189.85N/AN/A001000
2007-05-24$17.70$14.0012.9%3.7%10.6%0.0%0.0%0.2%-4.0%363-176.5K-40.00120.25N/AN/A001000
2007-05-25$17.86$14.00145.5%41.7%11.1%0.0%0.0%26.8%-56.3%1.6K-133.8K-1380.00191.82N/AN/A001000
2007-05-29$17.86$14.00160.8%46.1%10.5%0.0%0.0%12.7%-68.5%1.6K-133.3K-1250.00191.72N/AN/A001000
2007-05-30$18.05$14.00164.7%47.2%11.1%0.0%0.0%16.1%-70.6%1.6K-136.5K-1180.00190.27N/AN/A001000
2007-05-31$18.14$14.00169.2%48.5%10.9%0.0%0.0%17.8%-73.8%1.5K-137.9K-1150.00190.11N/AN/A001000