QLD Options History — March 2014

In March 2014, QLD traded between $3.05 and $3.35. ATM implied volatility averaged 28.0%, placing in the 40.1% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded above realized volatility by 6.4% (HV 20d: 21.6%). Max pain ranged from $2.22 to $2.31. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 1.17.

Notable Days

  • 2014-03-26: Highest Volume — 117,056 contracts
  • 2014-03-13: Largest IV spike — 19.5% change
  • 2014-03-14: Highest IV Rank — 61.3%
  • 2014-03-14: Largest Expected Move — 10.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.23$3.05$3.35$3.24$3.11
Max Pain$2.25$2.22$2.31$2.22$2.31
ATM IV28.0%24.3%32.0%28.6%31.8%
Expected Move10.2%9.9%10.5%10.0%10.2%
HV 20d21.6%16.0%27.2%27.2%25.1%
HV 60d27.2%26.2%28.1%26.4%28.0%
IV Rank40.1%21.2%61.3%43.5%60.3%
IV Percentile68.8%33.3%94.0%81.0%93.7%
Term Structure1.3%-0.6%2.5%0.1%-0.6%
VWIV40.1%36.2%47.6%42.4%39.9%
Skew 25d6.6%4.4%7.8%6.0%6.7%
Skew 10d13.1%8.5%16.0%12.6%12.3%
Call IV 25d25.6%22.5%28.9%26.7%28.9%
Put IV 25d32.1%27.2%36.0%32.7%35.5%
Bid-Ask Spread %16.315.6725.8521.1525.73
Gamma HHI0.230.060.490.190.07
Net GEX2.1M-27.4K5.4M1.8M353.6K
Net DEX-38.7M-61.7M-6.1M-41.0M-15.1M
Net VEX-287.6K-306.1K-266.8K-297.8K-286.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.170.275.571.560.87
Total Volume55,916.1919,520117,05662,04879,104
Total OI784,275.81567,456940,896730,368715,680

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-03-03$3.24$2.2228.6%10.0%27.2%43.5%42.4%6.0%0.1%1.8M-41.0M-297.8K1.5621.15N/AN/A24,19237,856427,776302,592
2014-03-04$3.33$2.2225.6%10.0%20.8%27.9%0.0%4.8%1.1%2.9M-59.4M-290.0K1.157.66N/AN/A13,44015,392436,352301,408
2014-03-05$3.35$2.2224.6%9.9%20.7%22.4%40.3%4.4%1.6%3.0M-61.7M-289.4K0.7715.39N/AN/A11,0408,480439,648313,664
2014-03-06$3.34$2.2224.3%10.0%20.5%21.2%0.0%4.8%1.8%3.0M-60.7M-291.4K1.4925.85N/AN/A8,92813,312448,128320,320
2014-03-07$3.30$2.2224.4%10.2%20.4%21.4%0.0%6.2%2.2%2.6M-52.3M-295.6K0.6313.92N/AN/A37,15223,392452,096326,272
2014-03-10$3.31$2.2224.8%10.1%17.2%23.5%0.0%6.0%2.2%3.0M-57.3M-294.1K0.605.67N/AN/A16,83210,016478,336333,824
2014-03-11$3.28$2.2225.6%10.1%17.5%27.8%0.0%6.5%2.3%2.8M-52.3M-290.0K0.5616.12N/AN/A16,5129,216487,808334,400
2014-03-12$3.31$2.2224.6%10.1%16.0%22.5%0.0%6.3%2.2%3.4M-58.7M-299.5K0.896.89N/AN/A22,04819,712496,192337,248
2014-03-13$3.21$2.2229.4%10.2%19.3%47.7%0.0%6.8%1.2%1.9M-34.6M-298.5K1.1213.82N/AN/A25,15228,064500,320349,600
2014-03-14$3.17$2.2232.0%10.5%19.3%61.3%0.0%7.8%0.4%1.2M-25.3M-306.1K0.4822.24N/AN/A31,90415,424508,128364,000
2014-03-17$3.23$2.2230.1%10.2%20.3%51.1%0.0%7.6%0.7%2.2M-38.7M-290.6K1.2717.60N/AN/A25,47232,448523,936369,696
2014-03-18$3.30$2.2227.2%10.3%21.8%36.0%39.7%7.2%1.9%4.3M-61.4M-285.0K1.0311.80N/AN/A20,09620,640535,008388,576
2014-03-19$3.27$2.2226.9%10.0%21.5%34.5%36.2%6.8%2.3%4.0M-49.5M-285.9K2.2525.32N/AN/A8,60819,328542,848398,048
2014-03-20$3.28$2.3126.9%10.1%21.4%34.6%0.0%6.7%2.5%5.4M-54.2M-270.9K0.2722.70N/AN/A28,4807,616530,208396,576
2014-03-21$3.20$2.3128.0%10.0%23.2%40.1%47.6%7.7%2.2%214.7K-20.7M-269.7K1.1813.58N/AN/A50,49659,808523,104397,792
2014-03-24$3.15$2.3129.5%10.4%23.4%48.1%0.0%7.7%2.2%202.4K-18.8M-266.8K0.9414.21N/AN/A49,60046,624265,600301,856
2014-03-25$3.17$2.3128.9%10.2%23.6%45.2%37.3%6.6%1.4%637.1K-24.0M-276.0K0.6910.74N/AN/A40,12827,840293,952308,320
2014-03-26$3.09$2.3131.1%10.5%25.1%56.4%37.4%7.5%0.1%357.7K-12.3M-279.5K5.5711.29N/AN/A17,82499,232304,288323,232
2014-03-27$3.05$2.3131.2%10.4%24.6%56.9%0.0%7.0%-0.2%-27.4K-6.1M-285.2K0.6718.63N/AN/A35,90424,064309,664371,264
2014-03-28$3.07$2.3131.7%10.2%24.7%59.8%39.9%6.8%-0.5%46.0K-7.8M-291.2K0.5222.31N/AN/A61,12031,744326,016386,016
2014-03-31$3.11$2.3131.8%10.2%25.1%60.3%0.0%6.7%-0.6%353.6K-15.1M-286.7K0.8725.73N/AN/A42,36836,736327,968387,712