QLD Options History — February 2009

In February 2009, QLD traded between $0.35 and $0.47. ATM implied volatility averaged 77.9%, placing in the 30.0% IV rank vs the trailing year. The 30-day expected move averaged 22.4%. IV traded above realized volatility by 8.2% (HV 20d: 69.7%). Max pain ranged from $0.39 to $0.41. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 0.40.

Notable Days

  • 2009-02-09: Highest Volume — 1,120,960 contracts
  • 2009-02-17: Largest IV spike — 14.5% change
  • 2009-02-23: Highest IV Rank — 38.7%
  • 2009-02-23: Largest Expected Move — 25.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$0.41$0.35$0.47$0.41$0.35
Max Pain$0.40$0.39$0.41$0.41$0.39
ATM IV77.9%69.4%90.1%79.9%76.5%
Expected Move22.4%19.9%25.8%22.9%21.9%
HV 20d69.7%61.7%76.1%70.5%65.9%
HV 60d85.8%71.2%96.9%96.9%71.2%
IV Rank30.0%23.9%38.7%31.4%29.0%
IV Percentile72.4%65.9%79.0%75.8%69.4%
Term Structure0.2%-5.0%3.7%-0.3%3.7%
VWIV77.3%68.5%88.0%80.7%76.0%
Skew 25d18.8%7.8%29.6%21.4%9.8%
Skew 10d35.1%11.1%62.4%35.6%11.1%
Call IV 25d68.7%57.9%83.3%70.6%73.8%
Put IV 25d87.4%82.8%93.9%92.0%83.6%
Bid-Ask Spread %19.1914.4327.3814.4916.94
Gamma HHI0.140.090.180.140.12
Net GEX1.2M180.9K2.3M981.4K413.1K
Net DEX-20.2M-67.6M11.0M-18.6M2.3M
Net VEX-123.8K-160.6K-78.9K-137.0K-110.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.400.190.650.320.59
Total Volume543,595.789156,8001,120,960156,800598,720
Total OI4,413,335.5792,397,7605,629,6963,987,5843,566,848

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-02-02$0.41$0.4179.9%22.9%70.5%31.4%80.7%21.4%-0.3%981.4K-18.6M-137.0K0.3214.49N/AN/A118,84837,9522,889,1521,098,432
2009-02-03$0.42$0.4172.8%20.9%71.7%26.3%76.6%29.6%2.9%1.2M-24.5M-138.7K0.3115.39N/AN/A182,78457,1522,923,2001,107,328
2009-02-04$0.42$0.4174.4%21.3%71.1%27.4%73.2%27.3%2.7%1.2M-26.1M-138.3K0.5917.52N/AN/A167,16898,6882,981,2481,127,040
2009-02-05$0.44$0.4169.4%19.9%70.4%23.9%69.0%25.3%3.2%1.5M-38.9M-143.5K0.3214.43N/AN/A341,824110,1443,032,7041,156,160
2009-02-06$0.46$0.3970.9%20.8%72.3%24.9%68.5%25.8%0.1%1.8M-59.5M-152.1K0.1918.11N/AN/A766,336148,4163,163,8401,173,504
2009-02-09$0.47$0.3972.7%20.7%70.2%26.2%75.6%23.8%1.4%2.2M-67.6M-155.2K0.3324.70N/AN/A844,992275,9683,518,4641,258,752
2009-02-10$0.43$0.3980.7%22.8%74.7%32.0%76.0%20.2%0.8%2.0M-37.6M-160.6K0.3923.19N/AN/A461,312180,9924,052,1601,375,232
2009-02-11$0.43$0.4176.9%23.1%74.8%29.3%78.8%18.7%-0.9%1.9M-31.9M-149.6K0.4324.92N/AN/A187,96880,1283,765,6961,406,080
2009-02-12$0.44$0.4175.8%21.7%71.1%28.5%79.8%19.8%0.8%2.2M-41.0M-150.0K0.5827.38N/AN/A264,448154,1763,806,7841,442,048
2009-02-13$0.43$0.3974.2%21.3%70.8%27.3%73.4%19.0%0.6%2.3M-37.3M-145.9K0.4222.97N/AN/A134,46457,0883,873,6641,524,480
2009-02-17$0.40$0.3984.9%24.3%76.1%35.0%85.1%17.0%-2.6%1.2M-5.7M-110.0K0.3917.12N/AN/A385,792151,2963,865,8561,544,768
2009-02-18$0.40$0.3982.2%23.6%66.6%33.0%81.6%16.9%-2.1%975.6K791.7K-97.2K0.2018.90N/AN/A399,42481,0243,880,0641,570,624
2009-02-19$0.39$0.3982.2%23.6%62.1%33.0%78.9%15.7%-2.7%577.1K11.0M-83.9K0.3719.01N/AN/A277,568101,5044,058,7521,570,944
2009-02-20$0.39$0.3981.7%23.4%61.7%32.7%79.7%18.5%-1.7%180.9K10.7M-78.9K0.6519.97N/AN/A597,696386,2403,973,0561,572,416
2009-02-23$0.36$0.3990.1%25.8%66.6%38.7%88.0%10.5%-5.0%241.1K-681.0K-80.1K0.4919.36N/AN/A501,888247,4881,686,080711,680
2009-02-24$0.38$0.3978.1%22.4%70.1%30.1%77.9%15.3%1.0%412.6K-8.2M-104.3K0.2817.76N/AN/A595,264165,9521,929,856886,912
2009-02-25$0.38$0.3978.2%22.4%69.9%30.2%75.6%14.3%1.4%546.1K-9.1M-109.0K0.3417.47N/AN/A359,360121,5362,158,912895,680
2009-02-26$0.36$0.3978.3%22.4%67.4%30.2%75.1%7.8%0.3%503.1K-2.6M-107.7K0.4715.05N/AN/A467,520219,2002,340,864964,096
2009-02-27$0.35$0.3976.5%21.9%65.9%29.0%76.0%9.8%3.7%413.1K2.3M-110.7K0.5916.94N/AN/A377,024221,6962,449,9201,116,928