QLD Options History — March 2011

In March 2011, QLD traded between $1.25 and $1.45. ATM implied volatility averaged 39.6%, placing in the 29.8% IV rank vs the trailing year. The 30-day expected move averaged 11.4%. IV traded above realized volatility by 3.0% (HV 20d: 36.6%). Max pain ranged from $1.30 to $1.39. Net GEX was positive for 18 of 23 trading days. Term structure was in contango for 21 of 23 days. Put/call ratio averaged 0.69.

Notable Days

  • 2011-03-01: Highest Volume — 598,656 contracts
  • 2011-03-07: Largest IV spike — 29.2% change
  • 2011-03-16: Highest IV Rank — 57.9%
  • 2011-03-16: Largest Expected Move — 15.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$1.36$1.25$1.45$1.38$1.41
Max Pain$1.32$1.30$1.39$1.39$1.30
ATM IV39.6%31.2%54.5%40.1%31.2%
Expected Move11.4%8.9%15.6%11.5%8.9%
HV 20d36.6%30.3%42.8%32.8%34.7%
HV 60d29.7%25.6%32.8%25.6%32.3%
IV Rank29.8%14.0%57.9%30.8%14.0%
IV Percentile54.3%17.9%92.1%62.3%17.9%
Term Structure2.0%-3.3%4.8%0.2%4.5%
VWIV39.9%32.7%55.3%39.0%32.7%
Skew 25d11.2%9.0%14.9%11.0%9.7%
Skew 10d23.4%18.5%29.2%21.9%21.9%
Call IV 25d35.0%27.9%47.5%35.1%27.9%
Put IV 25d46.2%37.6%62.4%46.1%37.6%
Bid-Ask Spread %36.9920.5574.1346.1337.89
Gamma HHI0.080.060.150.060.09
Net GEX1.9M-2.1M6.1M-173.5K6.1M
Net DEX-27.9M-97.3M59.3M-14.7M-97.3M
Net VEX-298.2K-336.7K-235.1K-267.0K-317.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.690.211.410.290.49
Total Volume283,528.34889,856598,656598,65697,216
Total OI2,735,599.3042,017,2163,404,4162,017,2162,971,968

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-03-01$1.38$1.3940.1%11.5%32.8%30.8%39.0%11.0%0.2%-173.5K-14.7M-267.0K0.2946.13N/AN/A462,912135,744940,8641,076,352
2011-03-02$1.39$1.3939.2%11.2%30.3%29.1%37.5%11.2%0.3%885.6K-31.9M-319.9K0.3339.20N/AN/A150,08049,2161,258,1121,132,672
2011-03-03$1.45$1.3931.9%9.1%33.2%15.3%35.3%9.5%3.4%2.8M-73.3M-317.8K0.3834.76N/AN/A397,888151,8081,359,4881,150,592
2011-03-04$1.43$1.3332.9%10.2%33.5%17.3%33.1%9.8%3.6%2.4M-55.6M-328.6K1.0037.40N/AN/A83,07282,7521,362,7521,216,832
2011-03-07$1.40$1.3342.6%11.5%34.6%35.4%40.2%10.7%1.5%1.5M-31.3M-314.4K1.0122.53N/AN/A184,896187,2641,383,1681,235,072
2011-03-08$1.41$1.3338.1%11.4%34.6%27.0%40.5%10.7%3.0%2.2M-42.6M-329.5K0.2124.71N/AN/A155,20032,7681,456,6401,263,360
2011-03-09$1.39$1.3339.9%11.6%34.4%30.3%41.9%11.1%2.7%2.0M-32.1M-323.8K0.5423.42N/AN/A58,24031,6161,512,6401,270,272
2011-03-10$1.34$1.3343.8%12.6%35.9%37.8%42.9%11.4%1.0%430.0K-433.1K-307.2K0.6320.55N/AN/A180,928113,1521,523,0721,278,208
2011-03-11$1.36$1.3340.8%11.7%36.2%32.2%41.7%10.2%3.7%1.3M-13.2M-309.2K0.8729.26N/AN/A108,03294,2081,583,6801,316,608
2011-03-14$1.35$1.3342.2%12.1%35.7%34.7%42.0%10.8%2.2%713.0K-4.7M-277.0K1.1334.28N/AN/A71,23280,3841,598,5921,317,952
2011-03-15$1.31$1.3346.1%13.2%36.5%42.2%46.0%12.4%0.0%-1.2M24.2M-262.4K1.4138.91N/AN/A144,576204,0321,616,1281,340,224
2011-03-16$1.25$1.3354.5%15.6%39.6%57.9%55.3%14.9%-3.3%-1.7M59.3M-235.1K1.3336.24N/AN/A254,720338,7521,640,0641,366,720
2011-03-17$1.27$1.3149.9%14.3%40.0%49.3%45.6%14.6%-2.2%-2.1M50.7M-253.8K0.5362.82N/AN/A273,344145,2801,752,3201,507,456
2011-03-18$1.27$1.3146.1%13.2%39.9%42.1%43.7%13.5%3.7%-1.3M57.4M-244.8K0.5631.41N/AN/A326,912182,5281,878,4641,525,952
2011-03-21$1.31$1.3040.4%11.6%42.8%31.4%39.7%12.8%1.6%1.7M-19.8M-269.7K0.3641.20N/AN/A212,67276,9921,302,976906,432
2011-03-22$1.31$1.3038.9%11.1%37.6%28.5%40.7%11.5%2.0%2.0M-21.7M-285.7K0.5567.66N/AN/A124,60868,1601,423,296956,992
2011-03-23$1.32$1.3037.1%10.6%37.5%25.1%38.3%11.1%2.5%2.3M-28.0M-287.9K0.8333.71N/AN/A83,64869,6321,459,776988,672
2011-03-24$1.37$1.3034.5%9.9%39.8%20.2%34.8%10.0%3.0%3.2M-55.5M-298.7K0.3474.13N/AN/A364,672125,1841,490,9441,023,936
2011-03-25$1.38$1.3035.2%10.1%38.4%21.6%36.7%10.6%2.8%4.6M-74.8M-336.7K0.8228.83N/AN/A114,43294,0161,738,9441,081,856
2011-03-28$1.36$1.3038.2%11.0%38.5%27.2%37.8%11.4%0.9%4.3M-63.9M-330.8K0.6027.39N/AN/A58,56035,0721,762,1121,102,336
2011-03-29$1.39$1.3034.6%9.9%37.5%20.5%37.1%10.9%3.8%5.0M-79.7M-320.0K0.9834.29N/AN/A53,12051,9681,786,3041,113,856
2011-03-30$1.40$1.3032.1%9.2%37.5%15.7%34.9%9.0%4.8%5.6M-93.6M-322.1K0.7024.02N/AN/A123,13686,5281,815,5521,128,576
2011-03-31$1.41$1.3031.2%8.9%34.7%14.0%32.7%9.7%4.5%6.1M-97.3M-317.3K0.4937.89N/AN/A65,08832,1281,837,9521,134,016