AG Options History — April 2007

In April 2007, AG traded between $35.96 and $42.84. ATM implied volatility averaged 35.1%. The 30-day expected move averaged 10.3%. IV traded above realized volatility by 12.8% (HV 20d: 22.3%). Max pain ranged from $35.00 to $35.00. Net GEX was positive for 5 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 4.05.

Notable Days

  • 2007-04-02: Highest Volume — 3,620 contracts
  • 2007-04-12: Largest IV spike — 23.7% change
  • 2007-04-30: Largest Expected Move — 11.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.48$35.96$42.84$36.13$41.73
Max Pain$35.00$35.00$35.00$35.00$35.00
ATM IV35.1%29.5%40.9%31.5%40.9%
Expected Move10.3%8.5%11.7%9.0%11.7%
HV 20d22.3%19.0%26.5%24.2%26.5%
HV 60d28.5%26.4%30.5%30.5%27.9%
Term Structure-0.7%-6.0%7.5%4.6%-6.0%
VWIV35.5%28.6%38.8%31.2%38.8%
Skew 25d2.2%-3.6%6.1%-3.6%3.5%
Skew 10d5.0%-8.6%10.0%-8.6%8.0%
Call IV 25d35.2%29.4%39.0%33.6%39.0%
Put IV 25d37.4%29.1%42.5%30.0%42.5%
Bid-Ask Spread %13.905.8521.2413.8916.14
Gamma HHI0.490.330.640.410.35
Net GEX-139.0K-512.7K363.3K-128.8K281.2K
Net DEX-13.1M-25.6M-4.0M-8.7M-21.9M
Net VEX-88.9K-102.5K-71.2K-71.2K-88.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.050.1331.063.122.12
Total Volume791.6753,6203,620237
Total OI17,262.5512,33719,19012,33719,190

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2007-04-02$36.13$35.0031.5%9.0%24.2%0.0%31.2%-3.6%4.6%-128.8K-8.7M-71.2K3.1213.898782,7426,4575,880
2007-04-03$36.45$35.0031.6%9.1%24.4%0.0%31.6%2.2%4.7%-281.6K-8.8M-81.3K0.2120.50169367,0947,931
2007-04-04$36.11$35.0031.4%9.0%24.2%0.0%31.2%-2.6%5.2%-309.2K-7.5M-81.9K7.1920.26261877,1677,940
2007-04-05$36.15$35.0029.5%8.5%23.1%0.0%28.6%-3.1%7.5%-305.7K-7.9M-81.0K26.3221.24822,1587,1787,868
2007-04-09$36.07$35.0032.6%10.9%22.3%0.0%35.5%4.1%-1.0%-446.4K-5.1M-94.8K31.0610.63481,4917,1929,801
2007-04-10$35.96$35.0033.3%10.9%22.3%0.0%34.7%4.8%-0.2%-512.7K-4.0M-102.5K4.2611.14391667,22810,686
2007-04-11$36.24$35.0030.2%11.0%19.4%0.0%35.7%6.1%-1.3%-498.5K-5.3M-101.7K0.2711.20146407,24910,573
2007-04-12$36.60$35.0037.4%10.7%19.1%0.0%37.5%4.1%-0.5%-454.2K-6.9M-100.0K0.6313.1046297,32110,592
2007-04-13$37.11$35.0037.5%10.7%19.5%0.0%35.4%3.3%-1.4%-381.0K-9.0M-98.1K0.2916.31189557,36410,590
2007-04-16$37.74$35.0036.3%10.4%19.7%0.0%36.9%3.1%-1.4%-221.5K-11.2M-92.6K0.199.80243457,36010,555
2007-04-17$38.31$35.0036.2%10.4%19.3%0.0%36.4%2.6%-0.9%-185.6K-13.2M-90.5K0.3916.93154607,51010,535
2007-04-18$38.58$35.0036.0%10.3%19.3%0.0%36.5%1.8%-0.6%-140.2K-14.0M-88.9K0.605.8589537,58410,512
2007-04-19$38.50$35.0035.7%10.2%19.0%0.0%37.6%1.8%-1.0%-135.0K-13.8M-89.1K0.366.6756207,59910,547
2007-04-20$39.15$35.0036.7%10.5%19.7%0.0%38.2%2.7%-1.7%-80.1K-15.1M-86.9K2.1717.592164697,61410,567
2007-04-23$41.05$35.0037.5%10.8%24.8%0.0%38.7%3.2%-3.7%-31.8K-18.3M-77.9K0.469.241,9018836,9188,916
2007-04-24$40.63$35.0037.6%10.8%25.4%0.0%37.4%2.2%-4.9%119.9K-18.7M-89.3K0.1311.031,0971408,5629,186
2007-04-25$41.88$35.0037.7%10.8%24.3%0.0%36.1%4.0%-4.1%261.6K-22.2M-87.5K0.4617.35204949,0549,306
2007-04-26$42.84$35.0035.7%10.2%24.8%0.0%36.4%1.8%-5.5%363.3K-25.6M-86.4K0.5714.544492579,4889,322
2007-04-27$42.36$35.0037.5%10.8%25.3%0.0%36.1%2.5%-2.0%306.1K-23.9M-86.9K0.2514.535091299,3209,495
2007-04-30$41.73$35.0040.9%11.7%26.5%0.0%38.8%3.5%-6.0%281.2K-21.9M-88.7K2.1216.14761619,6369,554