A Options History — August 2007

In August 2007, A traded between $23.17 and $27.63. ATM implied volatility averaged 35.7%, placing in the 53.4% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded below realized volatility by 3.1% (HV 20d: 38.8%). Max pain ranged from $25.04 to $26.82. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 11 of 23 days. Put/call ratio averaged 0.83.

Notable Days

  • 2007-08-09: Highest Volume — 17,071 contracts
  • 2007-08-15: Largest IV drop — 42.3% change
  • 2007-08-03: Highest IV Rank — 100.0%
  • 2007-08-03: Largest Expected Move — 12.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.58$23.17$27.63$27.30$26.04
Max Pain$25.58$25.04$26.82$26.82$25.04
ATM IV35.7%22.9%66.0%36.3%25.8%
Expected Move8.6%6.6%12.3%10.4%7.4%
HV 20d38.8%15.6%53.1%15.6%53.1%
HV 60d27.7%19.7%33.5%20.9%33.2%
IV Rank53.4%11.1%100.0%98.8%17.1%
IV Percentile75.5%42.0%100.0%98.6%56.3%
Term Structure-0.8%-12.0%4.5%-6.2%0.0%
VWIV29.7%22.2%42.5%34.8%26.5%
Skew 25d3.5%0.1%5.1%4.0%1.5%
Skew 10d6.1%-0.0%10.4%7.5%4.0%
Call IV 25d28.4%22.6%39.7%34.2%26.0%
Put IV 25d31.8%24.8%44.3%38.2%27.4%
Bid-Ask Spread %6.283.819.906.383.81
Gamma HHI0.240.180.340.320.22
Net GEX1.6M-121.2K3.2M2.7M1.7M
Net DEX-21.6M-61.8M39.0M-54.1M-34.7M
Net VEX-447.4K-505.8K-356.2K-505.3K-459.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.233.880.630.79
Total Volume4,947.08754517,0713,9173,201
Total OI104,385.26176,443124,652111,70089,790

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-08-01$27.30$26.8236.3%10.4%15.6%98.8%34.8%4.0%-6.2%2.7M-54.1M-505.3K0.636.38N/AN/A2,4061,51170,86240,838
2007-08-02$27.63$26.8235.4%10.1%16.4%94.2%33.2%5.1%-5.5%3.0M-59.8M-505.8K0.547.05N/AN/A77341970,87241,152
2007-08-03$27.17$26.8242.8%12.3%17.0%100.0%42.5%4.6%-12.0%2.6M-51.8M-504.5K0.329.90N/AN/A5,6651,79471,03441,091
2007-08-06$27.40$26.8244.6%8.9%17.4%100.0%30.5%3.9%-0.8%3.1M-59.4M-500.9K1.995.23N/AN/A1,3022,58674,52542,143
2007-08-07$27.40$26.8242.3%8.7%17.4%91.7%30.0%4.0%-0.7%3.1M-57.5M-496.5K1.075.39N/AN/A67071475,12743,132
2007-08-08$27.53$26.8244.9%8.5%17.4%100.0%27.5%4.1%-0.1%3.2M-61.8M-493.9K0.768.84N/AN/A1,22693074,98642,952
2007-08-09$25.67$26.8250.1%9.9%29.0%100.0%34.1%3.5%-1.8%1.7M-17.4M-456.7K0.424.75N/AN/A12,0475,02474,89442,875
2007-08-10$25.57$25.0451.3%10.2%28.9%100.0%33.7%3.0%-2.9%1.6M-13.7M-476.7K0.428.90N/AN/A4,1381,73477,42745,517
2007-08-13$25.99$25.0460.7%9.8%29.9%100.0%35.1%4.1%-2.8%1.9M-25.6M-479.7K0.296.98N/AN/A2,83580977,49346,075
2007-08-14$25.99$25.0466.0%10.5%30.0%100.0%37.3%4.7%-3.8%1.8M-24.5M-477.7K0.586.74N/AN/A5,3633,10876,78946,121
2007-08-15$23.17$25.0438.1%9.5%49.3%42.5%32.9%0.1%-0.2%-121.2K39.0M-356.2K1.736.57N/AN/A4,8118,31178,25746,395
2007-08-16$23.45$25.0434.5%9.9%49.6%35.1%34.6%3.9%-1.1%17.0K22.5M-383.8K0.868.36N/AN/A1,8541,58779,09044,368
2007-08-17$24.20$25.0425.3%7.3%51.7%16.1%25.6%3.4%4.5%450.2K13.1M-395.8K0.326.99N/AN/A7,2712,29179,31643,901
2007-08-20$24.03$25.0427.7%8.0%51.2%21.1%26.2%4.5%1.5%430.4K3.9M-374.5K0.405.50N/AN/A2,38195847,60528,838
2007-08-21$24.28$25.0424.4%7.0%51.5%14.3%24.9%4.5%1.9%553.4K480.2K-384.3K0.865.39N/AN/A2,8652,47648,53028,694
2007-08-22$24.59$25.0423.7%6.8%52.0%12.7%22.2%4.1%1.9%721.1K-4.2M-391.6K0.236.03N/AN/A9,5272,22850,34828,902
2007-08-23$24.78$25.0423.5%6.7%52.0%12.3%24.1%3.2%1.9%1.1M-11.6M-433.1K0.674.78N/AN/A1,22581956,73830,502
2007-08-24$25.18$25.0422.9%6.6%52.2%11.1%23.6%2.2%2.5%1.3M-18.0M-445.7K0.274.71N/AN/A1,99954456,73830,755
2007-08-27$25.14$25.0423.8%6.8%51.9%12.9%23.7%2.2%2.3%1.3M-18.2M-442.1K0.345.54N/AN/A40713857,99630,957
2007-08-28$24.80$25.0424.6%7.0%51.9%14.6%27.2%2.3%1.8%1.1M-11.7M-428.7K3.885.77N/AN/A2781,08157,99531,038
2007-08-29$25.48$25.0425.6%7.3%53.1%16.7%26.1%4.0%1.2%1.4M-23.0M-444.3K0.813.87N/AN/A66153358,07230,802
2007-08-30$25.63$25.0426.2%7.5%52.9%18.0%25.9%2.6%1.2%1.5M-27.7M-452.8K0.826.86N/AN/A70657758,34830,981
2007-08-31$26.04$25.0425.8%7.4%53.1%17.1%26.5%1.5%0.0%1.7M-34.7M-459.6K0.793.81N/AN/A1,7891,41258,53131,259