A Options History — July 2009

In July 2009, A traded between $13.45 and $16.66. ATM implied volatility averaged 39.2%, placing in the 20.6% IV rank vs the trailing year. The 30-day expected move averaged 11.6%. IV traded above realized volatility by 3.9% (HV 20d: 35.3%). Max pain ranged from $12.52 to $12.52. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 2 of 22 days. Put/call ratio averaged 0.92.

Notable Days

  • 2009-07-31: Highest Volume — 11,883 contracts
  • 2009-07-13: Largest IV spike — 11.8% change
  • 2009-07-31: Highest IV Rank — 29.0%
  • 2009-07-31: Largest Expected Move — 13.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$14.98$13.45$16.66$14.75$16.61
Max Pain$12.52$12.52$12.52$12.52$12.52
ATM IV39.2%33.8%46.0%33.8%46.0%
Expected Move11.6%9.7%13.2%9.7%13.2%
HV 20d35.3%31.3%38.2%32.4%31.3%
HV 60d38.8%36.9%40.4%39.5%36.9%
IV Rank20.6%14.0%29.0%14.0%29.0%
IV Percentile25.0%13.1%36.5%13.1%36.5%
Term Structure-1.1%-5.6%6.0%6.0%-5.6%
VWIV41.4%33.1%45.9%33.1%45.9%
Skew 25d6.3%4.5%7.5%5.0%6.9%
Skew 10d13.6%6.6%22.4%10.9%21.5%
Call IV 25d38.6%31.2%42.6%31.2%42.0%
Put IV 25d44.9%36.3%49.2%36.3%49.0%
Bid-Ask Spread %3.242.455.243.163.37
Gamma HHI0.320.230.390.310.32
Net GEX505.8K352.2K640.0K640.0K572.0K
Net DEX-27.8M-43.7M-10.7M-29.8M-43.1M
Net VEX-127.8K-140.0K-119.5K-135.1K-132.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.920.072.310.610.07
Total Volume4,009.4091,10811,8833,55011,883
Total OI83,631.77373,90690,80685,68285,816

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-07-01$14.75$12.5233.8%9.7%32.4%14.0%33.1%5.0%6.0%640.0K-29.8M-135.1K0.613.16N/AN/A2,2001,35046,56339,119
2009-07-02$14.11$12.5235.3%10.1%34.2%15.9%35.8%4.5%5.4%566.0K-20.6M-140.0K1.583.32N/AN/A2,2903,61247,35239,554
2009-07-06$13.98$12.5237.3%11.9%34.2%18.3%41.2%7.0%-0.4%592.1K-18.5M-135.5K0.293.22N/AN/A2,74080148,03439,995
2009-07-07$13.58$12.5238.7%12.0%35.4%20.1%41.7%7.5%-0.5%414.5K-12.6M-132.8K1.543.76N/AN/A43667247,33940,053
2009-07-08$13.45$12.5238.9%12.0%35.4%20.3%42.4%6.9%-0.1%369.0K-10.7M-129.5K0.425.24N/AN/A6,1232,58247,19540,117
2009-07-09$13.51$12.5237.2%12.0%35.2%18.2%44.3%6.5%-0.3%363.2K-11.7M-131.1K0.983.28N/AN/A68466846,82240,499
2009-07-10$13.56$12.5235.4%11.9%34.8%15.9%40.7%6.5%-0.1%352.2K-12.3M-129.9K0.603.33N/AN/A1,7491,05146,57240,778
2009-07-13$13.87$12.5239.5%12.0%35.3%21.0%44.1%6.2%-0.5%440.1K-16.8M-129.8K0.863.33N/AN/A1,09394146,70741,354
2009-07-14$13.94$12.5236.1%11.8%34.1%16.8%42.5%6.0%-0.4%468.7K-17.4M-127.3K1.842.72N/AN/A1,0962,01546,76341,487
2009-07-15$14.71$12.5240.2%12.0%38.0%21.8%39.9%6.8%-0.7%595.6K-30.3M-127.2K0.602.53N/AN/A4,0782,45947,03741,514
2009-07-16$14.90$12.5241.3%11.9%37.6%23.3%40.9%6.5%-0.6%483.7K-34.0M-126.9K0.812.45N/AN/A83968148,36842,438
2009-07-17$14.99$12.5240.6%11.7%37.3%22.4%40.5%6.1%-0.2%430.4K-34.9M-125.2K0.322.97N/AN/A1,77157247,31441,624
2009-07-20$15.42$12.5237.3%10.7%38.2%18.3%40.8%5.7%-1.1%482.5K-29.4M-122.6K1.044.60N/AN/A1,5741,64139,84934,057
2009-07-21$15.36$12.5237.5%10.7%36.4%18.5%43.0%6.0%-1.6%497.7K-29.5M-122.7K2.313.29N/AN/A5401,24640,60634,840
2009-07-22$15.38$12.5237.3%10.7%36.5%18.3%39.8%5.9%-1.9%500.8K-29.1M-120.9K0.773.61N/AN/A1,3351,02940,60234,960
2009-07-23$15.82$12.5237.8%10.8%36.7%18.9%39.2%5.5%-2.5%539.7K-33.5M-122.2K0.772.87N/AN/A1,24896340,72935,174
2009-07-24$15.93$12.5238.6%11.1%33.4%19.9%38.7%5.7%-2.4%571.6K-35.0M-123.5K1.262.60N/AN/A61577441,36335,119
2009-07-27$16.21$12.5241.6%11.9%33.2%23.7%44.8%6.9%-3.8%577.9K-38.7M-119.5K0.732.71N/AN/A4,4813,26241,63235,252
2009-07-28$16.66$12.5242.8%12.3%34.1%25.1%41.6%6.6%-3.8%539.6K-43.7M-119.8K0.643.43N/AN/A3,9582,51842,80536,791
2009-07-29$16.19$12.5243.4%12.4%36.1%25.7%44.6%6.8%-4.4%562.3K-38.2M-128.1K1.002.84N/AN/A1,4971,49944,50337,884
2009-07-30$16.57$12.5245.7%13.1%36.5%28.7%44.5%6.6%-5.2%567.4K-42.3M-130.1K1.092.73N/AN/A2,6942,94744,96538,354
2009-07-31$16.61$12.5246.0%13.2%31.3%29.0%45.9%6.9%-5.6%572.0K-43.1M-132.5K0.073.37N/AN/A11,11077346,28139,535