QLD Options History — July 2008

In July 2008, QLD traded between $1.09 and $1.18. ATM implied volatility averaged 55.7%, placing in the 66.7% IV rank vs the trailing year. The 30-day expected move averaged 15.9%. IV traded above realized volatility by 8.2% (HV 20d: 47.4%). Max pain ranged from $1.11 to $1.20. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.41.

Notable Days

  • 2008-07-18: Highest Volume — 432,384 contracts
  • 2008-07-22: Largest IV drop — 9.5% change
  • 2008-07-14: Highest IV Rank — 81.4%
  • 2008-07-14: Largest Expected Move — 18.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$1.13$1.09$1.18$1.18$1.15
Max Pain$1.14$1.11$1.20$1.20$1.13
ATM IV55.7%48.8%63.3%54.1%48.8%
Expected Move15.9%14.0%18.1%15.5%14.0%
HV 20d47.4%38.8%53.6%52.3%38.8%
HV 60d44.4%43.0%46.2%45.0%43.5%
IV Rank66.7%53.4%81.4%63.7%53.4%
IV Percentile75.9%43.6%96.6%79.0%43.6%
Term Structure-0.8%-4.1%2.0%1.1%0.1%
VWIV54.7%48.5%62.6%53.5%48.5%
Skew 25d8.6%4.7%12.9%8.6%5.5%
Skew 10d15.8%8.7%21.8%16.2%10.6%
Call IV 25d51.0%45.1%59.1%49.1%45.1%
Put IV 25d59.6%50.6%70.3%57.7%50.6%
Bid-Ask Spread %27.0017.8945.3520.2619.32
Gamma HHI0.110.080.170.100.10
Net GEX1.3M-59.3K2.3M1.5M1.9M
Net DEX-6.1M-31.2M18.9M-6.6M-30.8M
Net VEX-143.0K-164.0K-114.3K-161.1K-163.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.410.141.010.290.28
Total Volume210,781.09185,952432,384226,432127,488
Total OI1,706,280.727963,2002,328,0001,641,4721,535,872

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-07-01$1.18$1.2054.1%15.5%52.3%63.7%53.5%8.6%1.1%1.5M-6.6M-161.1K0.2920.26N/AN/A175,74450,6881,128,704512,768
2008-07-02$1.12$1.2059.0%16.9%53.6%73.1%57.9%10.0%-0.6%1.1M5.4M-147.6K0.3126.77N/AN/A121,53637,8241,182,016532,736
2008-07-03$1.11$1.2056.3%16.1%50.6%67.9%54.4%7.1%1.2%1.2M5.8M-143.6K0.4835.15N/AN/A91,64844,3521,227,968538,752
2008-07-07$1.13$1.1160.3%16.8%47.0%75.6%56.0%8.5%-3.1%1.3M3.5M-136.2K0.2119.88N/AN/A190,33640,6401,251,776550,912
2008-07-08$1.17$1.1355.1%16.2%49.4%65.6%55.0%9.8%-1.0%2.1M-13.9M-151.5K0.2324.62N/AN/A313,40870,5921,302,400570,624
2008-07-09$1.12$1.1459.1%16.6%50.7%73.4%55.0%8.8%-1.3%1.5M2.1M-148.2K0.3623.85N/AN/A174,01662,7841,376,448611,392
2008-07-10$1.14$1.1458.3%16.7%49.3%71.7%57.6%8.5%-1.6%2.0M-5.3M-156.1K0.2417.89N/AN/A111,68026,5601,415,872625,280
2008-07-11$1.11$1.1660.2%17.3%50.1%75.5%59.8%10.7%-2.3%1.4M6.8M-140.3K0.4524.68N/AN/A149,88867,2001,436,288631,808
2008-07-14$1.09$1.1463.3%18.1%47.4%81.4%62.4%11.2%-4.1%1.1M14.3M-127.6K1.0123.65N/AN/A100,672101,7601,484,096667,136
2008-07-15$1.09$1.1462.5%17.9%46.6%79.9%62.6%12.9%-2.7%678.1K18.9M-120.8K0.5234.91N/AN/A185,21696,1921,517,568700,800
2008-07-16$1.14$1.1356.7%16.3%50.8%68.7%56.7%11.5%-0.1%2.3M-3.7M-136.6K0.3528.23N/AN/A175,16861,9521,565,184723,840
2008-07-17$1.14$1.1356.4%16.2%50.5%68.2%54.6%10.4%-1.8%2.2M-1.4M-130.8K0.3843.31N/AN/A169,79263,9361,572,800733,888
2008-07-18$1.12$1.1457.3%16.4%48.9%69.8%55.3%11.4%-3.0%-59.3K12.1M-114.3K0.2424.42N/AN/A349,05683,3281,593,600734,400
2008-07-21$1.12$1.1355.5%15.9%46.4%66.5%55.4%8.4%-0.4%733.0K-10.7M-131.0K0.3345.35N/AN/A102,59234,176638,208324,992
2008-07-22$1.12$1.1350.2%14.4%46.0%56.3%49.9%8.6%2.0%886.6K-10.6M-129.2K1.0025.98N/AN/A93,69693,248683,520345,664
2008-07-23$1.15$1.1353.4%15.3%47.0%62.3%51.8%8.5%-1.6%1.0M-19.5M-139.9K0.5029.98N/AN/A184,51293,056719,552363,840
2008-07-24$1.11$1.1353.5%15.3%47.3%62.5%52.9%6.4%0.3%1.1M-13.9M-145.2K0.7520.26N/AN/A88,32066,240812,736394,816
2008-07-25$1.14$1.1349.7%14.3%41.5%55.3%49.4%7.2%0.3%1.2M-19.5M-155.1K0.1429.14N/AN/A75,13610,816844,288442,944
2008-07-28$1.10$1.1354.3%15.6%42.7%64.0%53.9%4.7%-0.3%1.1M-10.8M-145.5K0.2730.42N/AN/A137,34437,376869,504451,264
2008-07-29$1.14$1.1351.1%14.6%43.5%57.9%50.0%5.1%0.3%1.6M-25.1M-158.0K0.3223.83N/AN/A137,28043,776952,896475,456
2008-07-30$1.16$1.1349.5%14.2%42.9%54.8%50.1%4.9%1.3%1.8M-31.2M-164.0K0.3122.15N/AN/A149,56846,592992,768500,800
2008-07-31$1.15$1.1348.8%14.0%38.8%53.4%48.5%5.5%0.1%1.9M-30.8M-163.7K0.2819.32N/AN/A99,96827,5201,022,016513,856