A Options History — February 2007

In February 2007, A traded between $22.61 and $24.20. ATM implied volatility averaged 27.7%. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 8.9% (HV 20d: 18.9%). Max pain ranged from $23.25 to $23.25. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 0.80.

Notable Days

  • 2007-02-15: Highest Volume — 25,064 contracts
  • 2007-02-08: Largest IV drop — 23.0% change
  • 2007-02-14: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.31$22.61$24.20$23.03$22.71
Max Pain$23.25$23.25$23.25$23.25$23.25
ATM IV27.7%20.7%36.5%30.7%25.0%
Expected Move7.6%5.9%9.5%8.8%7.2%
HV 20d18.9%15.0%23.9%15.0%23.9%
Term Structure-1.5%-5.5%1.8%-4.0%-1.3%
VWIV26.7%19.9%32.9%30.4%25.1%
Skew 25d4.3%3.0%5.8%3.0%4.3%
Skew 10d9.4%4.3%16.3%4.3%8.6%
Call IV 25d24.7%18.9%30.1%30.1%25.0%
Put IV 25d29.0%22.8%34.6%33.1%29.3%
Bid-Ask Spread %9.003.3121.9019.774.58
Gamma HHI0.420.260.700.700.27
Net GEX2.2M792.2K4.9M1.8M1.6M
Net DEX-23.5M-57.6M-6.6M-8.0M-14.4M
Net VEX-237.4K-266.4K-186.6K-186.6K-258.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.800.032.860.102.86
Total Volume7,858.2631,03125,06412,2326,900
Total OI74,101.78959,895101,14661,52173,067

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-02-01$23.03$23.2530.7%8.8%15.0%0.0%30.4%3.0%-4.0%1.8M-8.0M-186.6K0.1019.77N/AN/A11,1461,08648,83112,690
2007-02-02$22.61$23.2530.7%7.9%15.7%0.0%27.7%3.8%-0.7%1.6M-6.6M-197.3K0.2618.82N/AN/A3,14182356,36213,245
2007-02-05$22.77$23.2533.1%8.3%16.1%0.0%29.5%3.3%-1.5%1.8M-9.6M-203.3K2.1618.96N/AN/A39485057,57913,860
2007-02-06$22.89$23.2535.3%8.3%16.3%0.0%28.4%3.6%-1.8%2.2M-12.6M-214.7K0.4621.90N/AN/A1,52971057,67014,422
2007-02-07$23.30$23.2536.5%8.2%17.9%0.0%28.6%4.8%-1.4%2.8M-19.2M-222.6K0.717.17N/AN/A90664458,23514,857
2007-02-08$23.37$23.2528.1%8.1%17.8%0.0%27.5%4.8%-1.3%3.0M-21.4M-223.0K0.0310.80N/AN/A4,59912058,11315,082
2007-02-09$23.36$23.2529.2%8.4%17.8%0.0%28.6%3.7%-1.7%3.0M-22.6M-229.5K2.665.02N/AN/A1,3813,67759,09515,107
2007-02-12$23.31$23.2529.9%8.6%17.8%0.0%30.0%3.5%-2.5%2.6M-19.3M-222.7K1.694.77N/AN/A1,4042,36759,24417,275
2007-02-13$23.59$23.2531.4%9.0%18.4%0.0%31.0%5.1%-4.2%3.1M-25.7M-230.6K0.245.02N/AN/A8,8872,15959,71619,006
2007-02-14$23.56$23.2533.3%9.5%16.9%0.0%32.9%5.0%-5.5%3.5M-33.2M-246.5K0.383.91N/AN/A8,3743,20666,16519,583
2007-02-15$24.20$23.2528.8%8.2%17.8%0.0%31.4%5.8%-2.8%4.9M-57.6M-258.2K1.044.53N/AN/A12,30412,76070,27921,778
2007-02-16$23.44$23.2522.5%6.5%20.7%0.0%22.8%4.9%1.8%792.2K-22.1M-248.6K0.568.42N/AN/A12,6787,15571,44529,701
2007-02-20$23.24$23.2522.4%6.4%20.8%0.0%23.8%5.6%-0.6%1.2M-14.1M-247.0K0.173.31N/AN/A19,2343,17337,82322,072
2007-02-21$23.43$23.2521.4%6.2%20.9%0.0%21.7%4.6%-0.1%1.6M-29.6M-260.9K0.465.70N/AN/A3,1461,45444,80921,760
2007-02-22$23.61$23.2520.9%6.0%21.1%0.0%20.5%4.6%0.1%1.7M-33.3M-266.4K0.433.67N/AN/A72131046,01722,555
2007-02-23$23.80$23.2520.7%5.9%20.1%0.0%19.9%3.9%0.1%1.8M-38.2M-262.7K0.526.77N/AN/A2,1531,11346,08822,681
2007-02-26$23.81$23.2521.6%6.2%19.9%0.0%21.2%3.9%-0.2%1.8M-38.6M-265.6K0.147.05N/AN/A1,29317847,18923,256
2007-02-27$22.97$23.2525.3%7.3%23.5%0.0%26.1%3.1%-0.7%1.5M-20.0M-265.8K0.4110.75N/AN/A5,1822,15047,89323,384
2007-02-28$22.71$23.2525.0%7.2%23.9%0.0%25.1%4.3%-1.3%1.6M-14.4M-258.4K2.864.58N/AN/A1,7895,11149,36123,706