QLD Options History — July 2011

In July 2011, QLD traded between $1.38 and $1.51. ATM implied volatility averaged 36.4%, placing in the 35.9% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded below realized volatility by 0.4% (HV 20d: 36.7%). Max pain ranged from $1.25 to $1.39. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.60.

Notable Days

  • 2011-07-01: Highest Volume — 474,944 contracts
  • 2011-07-27: Largest IV spike — 18.7% change
  • 2011-07-29: Highest IV Rank — 81.5%
  • 2011-07-29: Largest Expected Move — 14.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$1.45$1.38$1.51$1.42$1.42
Max Pain$1.35$1.25$1.39$1.25$1.39
ATM IV36.4%26.7%49.3%33.3%49.3%
Expected Move10.6%8.9%14.1%9.6%14.1%
HV 20d36.7%32.5%39.1%37.1%36.9%
HV 60d32.6%31.0%34.8%31.0%34.8%
IV Rank35.9%1.8%81.5%22.3%81.5%
IV Percentile53.2%2.0%98.4%36.1%98.4%
Term Structure2.4%-7.0%6.0%3.5%-7.0%
VWIV37.4%26.9%46.6%26.9%46.6%
Skew 25d10.5%5.2%16.7%8.0%16.7%
Skew 10d19.2%12.2%28.4%18.0%28.4%
Call IV 25d32.4%22.7%39.6%22.7%39.6%
Put IV 25d42.9%30.7%56.3%30.7%56.3%
Bid-Ask Spread %18.2913.6433.5933.5920.93
Gamma HHI0.100.050.400.080.06
Net GEX4.0M620.2K8.1M4.3M1.1M
Net DEX-91.0M-196.9M-15.9M-127.1M-24.4M
Net VEX-258.6K-293.2K-226.6K-255.6K-293.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.600.181.170.290.67
Total Volume195,747.276,480474,944474,94476,480
Total OI2,177,356.81,088,5123,144,3202,521,6001,663,488

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-07-01$1.42$1.2533.3%9.6%37.1%22.3%26.9%8.0%3.5%4.3M-127.1M-255.6K0.2933.59N/AN/A368,896106,0481,543,808977,792
2011-07-05$1.44$1.2727.6%9.1%36.4%4.4%31.6%10.2%3.8%5.5M-144.3M-243.9K0.1818.51N/AN/A341,95260,9281,661,7601,010,880
2011-07-06$1.45$1.2826.7%9.2%36.3%1.8%33.0%6.3%3.7%6.8M-161.6M-250.7K0.4717.35N/AN/A148,35269,4401,803,2001,019,648
2011-07-07$1.49$1.2829.3%9.2%36.5%11.0%33.1%5.2%2.5%6.3M-196.9M-242.7K0.3413.64N/AN/A198,84867,3281,867,9681,018,944
2011-07-08$1.48$1.3331.3%8.9%36.7%18.3%34.2%9.0%2.7%6.8M-190.8M-248.3K0.8814.22N/AN/A57,85650,9441,916,5441,051,520
2011-07-11$1.43$1.3336.9%10.2%37.5%38.1%38.8%11.0%4.3%8.0M-142.2M-251.2K0.4719.63N/AN/A241,792113,7921,894,5921,062,528
2011-07-12$1.40$1.3439.4%10.8%38.3%46.7%38.6%12.1%3.4%7.4M-120.2M-267.0K0.5218.52N/AN/A73,79238,7201,926,4001,127,168
2011-07-13$1.41$1.3836.1%10.5%37.7%35.2%36.4%9.5%5.7%8.1M-131.3M-251.8K0.4714.70N/AN/A73,66434,6881,942,2721,145,728
2011-07-14$1.38$1.3839.4%11.3%36.1%46.7%37.4%13.3%5.5%7.2M-96.0M-236.0K0.9117.99N/AN/A145,536132,1601,947,9681,143,232
2011-07-15$1.42$1.3839.0%11.2%36.5%45.4%38.8%12.0%1.6%6.6M-141.6M-226.6K0.4517.13N/AN/A151,29668,4801,964,9921,179,328
2011-07-18$1.40$1.3837.6%10.8%36.7%40.4%38.7%11.5%2.7%620.2K-15.9M-230.0K0.5015.83N/AN/A182,33691,776599,168489,344
2011-07-19$1.47$1.3835.0%10.0%39.1%31.2%36.7%11.3%3.3%1.4M-39.3M-259.3K0.4515.49N/AN/A73,53633,344732,352558,848
2011-07-20$1.45$1.3836.5%10.5%37.5%36.6%35.8%11.1%6.0%1.4M-37.2M-266.5K0.7719.29N/AN/A44,86434,432754,880580,800
2011-07-21$1.48$1.3836.1%10.4%36.9%35.2%38.2%11.5%2.4%1.4M-43.2M-263.6K0.7819.23N/AN/A95,16873,856764,288595,136
2011-07-22$1.51$1.3933.2%9.5%37.0%25.0%37.1%8.2%2.8%1.6M-52.5M-262.9K1.1716.54N/AN/A72,76884,992787,840636,672
2011-07-25$1.50$1.3935.8%10.3%33.6%34.1%38.4%8.3%2.1%1.5M-49.9M-272.0K0.6816.81N/AN/A64,38443,776803,840674,432
2011-07-26$1.51$1.3937.2%10.7%32.5%38.9%37.2%9.5%0.3%1.4M-50.6M-274.4K0.3217.10N/AN/A79,48825,472811,136693,440
2011-07-27$1.43$1.3944.1%12.6%37.7%63.4%45.4%12.5%-2.2%1.2M-27.2M-285.3K1.0420.24N/AN/A104,768109,376853,184704,640
2011-07-28$1.43$1.3943.8%12.6%37.7%62.5%44.8%13.6%0.6%1.2M-28.1M-290.5K0.6419.00N/AN/A48,51231,104880,576756,800
2011-07-29$1.42$1.3949.3%14.1%36.9%81.5%46.6%16.7%-7.0%1.1M-24.4M-293.2K0.6720.93N/AN/A45,76030,720887,424776,064