A Options History — March 2015

In March 2015, A traded between $40.63 and $42.71. ATM implied volatility averaged 21.1%, placing in the 7.9% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 1.7% (HV 20d: 19.4%). Max pain ranged from $40.00 to $42.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 18 of 22 days. Put/call ratio averaged 0.85.

Notable Days

  • 2015-03-02: Highest Volume — 2,898 contracts
  • 2015-03-24: Largest IV spike — 14.0% change
  • 2015-03-10: Highest IV Rank — 9.3%
  • 2015-03-11: Largest Expected Move — 6.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$41.59$40.63$42.71$42.71$41.56
Max Pain$42.16$40.00$42.50$40.00$42.50
ATM IV21.1%17.6%23.7%21.6%19.4%
Expected Move6.1%5.0%6.7%6.2%5.6%
HV 20d19.4%17.4%21.1%20.0%19.8%
HV 60d24.0%22.7%24.9%24.8%23.4%
IV Rank7.9%6.1%9.3%8.1%7.0%
IV Percentile33.2%9.1%44.0%36.1%24.2%
Term Structure1.0%-16.3%5.7%0.1%-6.8%
VWIV21.2%17.7%24.5%20.2%20.5%
Skew 25d1.3%-1.7%3.3%0.8%3.3%
Skew 10d3.5%0.0%11.4%0.8%4.4%
Call IV 25d21.1%18.0%23.8%23.0%18.0%
Put IV 25d22.4%19.1%24.7%23.8%21.3%
Bid-Ask Spread %16.3411.3420.4618.3319.82
Gamma HHI0.250.230.310.240.25
Net GEX4.9M3.4M7.4M5.2M5.2M
Net DEX-72.0M-109.8M-46.2M-96.7M-74.6M
Net VEX-650.9K-710.4K-598.3K-684.8K-631.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.850.201.820.881.22
Total Volume1,1801702,8982,8981,653
Total OI107,627.409100,529115,850101,394115,534

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-03-02$42.71$40.0021.6%6.2%20.0%8.1%20.2%0.8%0.1%5.2M-96.7M-684.8K0.8818.33N/AN/A1,5441,35468,03733,357
2015-03-03$42.24$40.0020.8%6.0%19.6%7.8%20.3%-1.7%1.0%5.6M-109.8M-687.3K1.1615.37N/AN/A82695668,25933,606
2015-03-04$42.02$40.0021.4%6.1%18.5%8.1%21.5%-1.6%0.2%5.2M-101.5M-690.7K1.2620.34N/AN/A9351,17768,24633,639
2015-03-05$42.22$42.5020.3%6.1%17.5%7.5%21.4%1.1%3.7%4.9M-77.4M-692.2K0.9415.06N/AN/A1,04898568,29833,816
2015-03-06$41.51$42.5021.3%6.1%18.7%8.0%22.6%2.1%-10.0%4.8M-80.5M-669.8K1.3415.08N/AN/A9481,27168,20133,818
2015-03-09$41.74$42.5021.1%6.2%18.6%7.9%22.5%1.9%3.3%4.6M-68.7M-642.1K0.7911.34N/AN/A967667,24033,319
2015-03-10$40.63$42.5023.7%6.6%21.1%9.3%23.3%1.4%3.2%3.4M-46.2M-614.9K1.8213.63N/AN/A17932567,26833,369
2015-03-11$40.85$42.5023.3%6.7%20.4%9.1%23.2%1.8%3.4%3.7M-49.3M-615.0K0.2014.20N/AN/A2054067,33633,285
2015-03-12$41.10$42.5022.9%6.6%20.0%8.9%23.1%1.5%3.1%4.0M-55.6M-618.1K1.1514.90N/AN/A27131267,45433,285
2015-03-13$40.87$42.5023.0%6.6%19.3%8.9%22.0%1.9%3.4%3.6M-46.9M-598.3K0.9014.67N/AN/A19217267,36233,167
2015-03-16$41.81$42.5022.0%6.3%20.8%8.4%24.5%1.4%2.9%4.9M-67.4M-603.4K0.9815.91N/AN/A15315067,43533,246
2015-03-17$41.58$42.5021.8%6.2%20.8%8.3%21.8%1.8%3.4%5.5M-72.2M-688.8K0.5017.34N/AN/A1949782,40633,313
2015-03-18$42.12$42.5020.6%5.9%19.2%7.6%20.4%1.4%4.4%6.8M-86.9M-710.4K0.5620.46N/AN/A1096182,33133,404
2015-03-19$42.21$42.5020.6%5.9%18.8%7.6%20.6%1.2%4.3%7.4M-86.4M-698.5K0.4817.01N/AN/A1306282,39733,406
2015-03-20$42.21$42.5018.6%5.3%17.6%6.6%19.7%0.8%5.7%5.2M-87.3M-693.7K0.4014.29N/AN/A91936782,39833,452
2015-03-23$42.20$42.5017.6%5.0%17.4%6.1%17.7%0.5%5.3%5.0M-70.9M-632.1K0.3917.96N/AN/A1,61563677,68831,966
2015-03-24$41.09$42.5020.1%5.8%19.6%7.4%19.6%1.6%4.2%4.1M-54.0M-629.7K0.3016.89N/AN/A1,41242078,49432,286
2015-03-25$40.81$42.5020.9%6.0%19.6%7.8%21.0%1.4%4.6%3.9M-50.9M-613.8K0.3113.57N/AN/A97630279,49732,541
2015-03-26$40.74$42.5021.2%6.1%19.5%8.0%21.2%1.6%-6.3%4.4M-60.9M-633.3K1.5919.94N/AN/A6681,06081,52033,851
2015-03-27$41.11$42.5021.0%6.0%19.9%7.8%19.5%2.1%4.6%4.1M-55.1M-622.2K0.3315.39N/AN/A33510979,95332,760
2015-03-30$41.70$42.5020.7%5.9%20.1%7.7%20.7%2.4%-16.3%5.5M-84.4M-648.3K1.2617.98N/AN/A71690481,72233,841
2015-03-31$41.56$42.5019.4%5.6%19.8%7.0%20.5%3.3%-6.8%5.2M-74.6M-631.6K1.2219.82N/AN/A74490981,69333,841