BAC Options History — July 2008

In July 2008, BAC traded between $18.52 and $33.61. ATM implied volatility averaged 76.6%, placing in the 82.4% IV rank vs the trailing year. The 30-day expected move averaged 21.9%. IV traded below realized volatility by 15.9% (HV 20d: 92.6%). Max pain ranged from $27.50 to $30.00. Net GEX was positive for 5 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 1.03.

Notable Days

  • 2008-07-24: Highest Volume — 544,520 contracts
  • 2008-07-24: Largest IV spike — 24.1% change
  • 2008-07-02: Highest IV Rank — 100.0%
  • 2008-07-15: Largest Expected Move — 29.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.21$18.52$33.61$23.81$32.90
Max Pain$28.52$27.50$30.00$27.50$30.00
ATM IV76.6%61.7%101.6%64.7%71.6%
Expected Move21.9%17.7%29.1%18.5%20.5%
HV 20d92.6%41.9%137.1%41.9%135.2%
HV 60d61.1%35.9%85.7%35.9%85.7%
IV Rank82.4%53.0%100.0%97.4%64.6%
IV Percentile98.1%93.7%100.0%99.6%94.4%
Term Structure-10.3%-30.6%4.3%0.4%-0.3%
VWIV77.7%65.4%97.4%68.2%73.5%
Skew 25d17.2%13.7%21.0%17.9%18.5%
Skew 10d34.8%27.0%43.1%32.6%41.1%
Call IV 25d69.3%53.7%92.3%62.5%63.0%
Put IV 25d86.5%73.3%109.0%80.4%81.5%
Bid-Ask Spread %3.231.794.911.792.83
Gamma HHI0.160.080.540.180.08
Net GEX-5.2M-13.5M34.0M-13.5M1.7M
Net DEX931.2M-688.7M1.89B1.77B-429.4M
Net VEX-12.2M-19.8M-6.6M-8.1M-19.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.030.611.911.111.45
Total Volume285,054.318110,384544,520225,775188,822
Total OI3,300,389.5912,686,8333,999,4612,686,8333,999,461

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2008-07-01$23.81$27.5064.7%18.5%41.9%97.4%68.2%17.9%0.4%-13.5M1.77B-8.1M1.111.79106,888118,8871,314,7421,372,091
2008-07-02$22.54$27.5066.8%19.2%43.2%100.0%69.7%14.5%4.3%-12.5M1.79B-7.9M0.672.1692,64862,3121,362,3761,412,209
2008-07-03$22.40$27.5071.3%20.4%42.9%100.0%72.0%13.9%-1.6%-12.5M1.81B-7.7M0.852.2659,65650,7281,388,5851,420,666
2008-07-07$21.53$30.0073.4%20.5%42.3%100.0%71.7%16.8%-16.1%-12.5M1.89B-7.0M1.052.9488,84893,0341,412,3431,438,114
2008-07-08$23.54$30.0067.9%19.6%56.4%90.3%65.4%13.7%-14.3%-12.8M1.73B-8.4M0.914.22138,640126,2721,446,2591,476,066
2008-07-09$22.06$30.0076.1%20.2%59.3%100.0%68.9%16.3%-16.2%-11.7M1.79B-7.7M0.743.23104,00577,3341,506,9381,491,160
2008-07-10$22.36$30.0075.2%21.6%60.0%98.6%76.1%16.5%-18.1%-9.5M1.71B-8.5M0.932.96135,470126,0271,557,7471,506,128
2008-07-11$21.67$30.0087.9%25.2%59.0%100.0%92.2%16.3%-25.8%-8.3M1.65B-8.6M1.283.6992,280117,6841,593,7761,546,044
2008-07-14$20.15$27.5098.8%28.3%61.4%100.0%97.4%16.2%-30.6%-9.4M1.80B-7.8M1.123.7062,19369,5721,617,7071,591,196
2008-07-15$18.52$27.50101.6%29.1%63.8%100.0%97.3%16.8%-29.2%-9.4M1.86B-6.6M0.712.96134,40495,3361,633,6341,598,922
2008-07-16$22.67$27.5088.0%25.2%102.5%84.1%89.9%19.4%-22.4%-6.8M1.50B-9.2M0.824.08147,872120,7431,667,5891,601,692
2008-07-17$26.50$27.5075.3%21.6%118.4%69.3%80.1%14.1%-18.7%-3.7M931.7M-11.6M0.614.34284,773172,4271,689,5001,641,692
2008-07-18$27.49$27.5079.5%22.8%119.2%74.1%84.2%20.9%-19.7%34.0M423.3M-13.0M0.944.91271,737254,6381,728,0701,693,301
2008-07-21$28.56$27.5068.6%19.7%119.2%61.1%66.9%19.8%-5.4%-5.9M546.5M-13.7M1.362.89218,755298,2621,516,0591,647,153
2008-07-22$32.35$27.5061.7%17.7%125.2%53.0%68.9%20.2%-4.3%33.2K-293.3M-15.9M1.063.33195,704206,8311,557,1061,759,855
2008-07-23$33.44$27.5065.4%18.7%125.3%57.2%68.2%16.0%-1.8%2.2M-522.0M-17.5M0.842.33244,411205,3001,605,3901,854,189
2008-07-24$30.64$27.5081.1%23.2%130.1%75.8%80.1%16.3%-3.4%-3.2M28.9M-17.5M1.912.94187,416357,1041,640,5701,920,490
2008-07-25$29.58$30.0072.7%20.9%127.9%65.9%74.7%16.2%3.3%-8.3M481.2M-17.7M1.453.9491,120131,7821,713,9042,075,455
2008-07-28$28.06$30.0088.6%25.4%129.6%84.6%86.3%17.5%-1.7%-12.3M866.7M-16.9M1.152.2286,912100,2611,717,1752,099,297
2008-07-29$32.22$27.5073.1%21.0%136.9%66.4%80.2%21.0%0.6%-2.5M-161.2M-19.0M0.813.64131,711106,8561,750,8702,111,489
2008-07-30$33.61$30.0076.8%22.0%137.1%70.8%77.3%18.7%-4.9%3.3M-688.7M-19.8M1.003.75157,527158,0131,785,1962,146,365
2008-07-31$32.90$30.0071.6%20.5%135.2%64.6%73.5%18.5%-0.3%1.7M-429.4M-19.5M1.452.8377,034111,7881,816,1742,183,287