BAC Options History — September 2008

In September 2008, BAC traded between $26.55 and $37.48. ATM implied volatility averaged 73.8%, placing in the 65.4% IV rank vs the trailing year. The 30-day expected move averaged 21.1%. IV traded below realized volatility by 37.2% (HV 20d: 111.0%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 1.05.

Notable Days

  • 2008-09-02: Highest Volume — 909,874 contracts
  • 2008-09-29: Largest IV spike — 77.2% change
  • 2008-09-29: Highest IV Rank — 100.0%
  • 2008-09-29: Largest Expected Move — 34.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.53$26.55$37.48$32.63$35.00
Max Pain$31.43$30.00$35.00$30.00$35.00
ATM IV73.8%51.4%119.1%52.3%81.5%
Expected Move21.1%14.7%34.1%15.0%23.4%
HV 20d111.0%66.7%172.2%67.5%172.2%
HV 60d108.0%91.7%130.4%91.9%130.4%
IV Rank65.4%40.4%100.0%41.5%63.1%
IV Percentile90.7%77.4%100.0%78.2%95.2%
Term Structure-2.8%-18.6%5.9%5.9%-8.3%
VWIV76.6%53.7%105.9%87.9%86.3%
Skew 25d22.8%14.2%33.4%16.2%24.5%
Skew 10d46.5%32.8%72.1%34.0%42.2%
Call IV 25d63.0%45.1%98.3%48.9%71.8%
Put IV 25d85.8%59.9%126.2%65.1%96.3%
Bid-Ask Spread %6.652.5716.882.8514.88
Gamma HHI0.090.070.110.100.08
Net GEX6.4M-13.7M24.6M3.9M12.1M
Net DEX-241.9M-1.76B1.24B45.3M-821.2M
Net VEX-18.6M-20.5M-15.8M-17.7M-20.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.050.071.970.071.32
Total Volume261,653.238119,569909,874909,874134,716
Total OI3,689,936.9053,422,3473,921,8043,519,1813,676,289

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2008-09-02$32.63$30.0052.3%15.0%67.5%41.5%87.9%16.2%5.9%3.9M45.3M-17.7M0.072.85846,78563,0891,607,1221,912,059
2008-09-03$32.96$30.0051.4%14.7%66.7%40.4%53.7%14.2%4.5%8.8M-156.9M-18.0M0.853.1480,19467,7881,586,2771,917,202
2008-09-04$30.60$30.0064.5%18.5%71.6%56.0%65.3%15.2%0.5%-2.6M516.7M-17.2M1.812.5781,463147,0631,614,7791,925,217
2008-09-05$32.23$30.0056.1%16.6%71.2%46.1%66.5%18.5%2.0%6.3M3.9M-18.1M1.012.7466,04466,9261,630,3931,974,282
2008-09-08$34.73$30.0053.6%14.9%75.5%43.1%57.6%17.9%2.1%17.3M-760.1M-18.9M1.034.63136,722140,7961,642,1021,985,536
2008-09-09$32.52$30.0072.1%19.4%78.4%65.0%65.7%21.5%-1.8%7.3M-146.0M-18.7M0.934.68124,285115,1821,671,0682,020,571
2008-09-10$32.40$30.0068.7%18.8%74.2%60.9%68.7%23.0%-0.7%8.3M-116.5M-18.6M1.444.2673,201105,1001,707,3152,025,318
2008-09-11$33.06$30.0068.0%19.5%68.5%60.1%68.0%24.7%-1.0%8.9M-269.2M-19.1M1.977.0083,254163,7671,693,8202,042,819
2008-09-12$33.74$30.0069.7%20.0%67.2%62.1%70.8%22.5%-1.4%12.7M-588.4M-19.6M1.433.9275,114107,4061,701,3832,094,401
2008-09-15$26.55$30.0098.2%28.1%109.7%95.9%97.7%25.4%-10.2%-13.2M1.24B-15.8M1.554.39241,577374,6121,722,5432,089,261
2008-09-16$29.55$30.0084.0%24.1%115.8%79.1%90.6%27.8%-2.6%-6.0M607.6M-17.8M1.127.19130,105145,4141,771,5932,107,898
2008-09-17$27.20$30.0099.5%28.5%118.6%97.5%105.9%32.3%-9.4%-13.7M1.10B-16.5M1.2710.5484,229107,1321,778,2712,120,617
2008-09-18$30.58$30.0087.0%24.9%125.1%82.7%86.2%33.4%-6.3%4.1M128.6M-18.2M0.7316.88173,309126,8001,791,1732,109,323
2008-09-19$37.48$30.0054.9%15.7%143.9%44.7%59.0%21.4%5.3%24.6M-1.76B-18.3M0.7012.01252,913176,6321,805,5822,116,222
2008-09-22$34.15$30.0068.2%19.6%148.3%60.4%69.2%22.3%-1.0%8.2M-592.4M-19.1M1.025.3194,39195,8601,566,4571,855,890
2008-09-23$33.30$35.0083.1%23.8%147.7%78.0%81.7%21.7%-5.3%6.7M-428.0M-19.8M0.745.8879,18158,3111,658,2711,941,192
2008-09-24$33.07$35.0081.8%23.4%147.7%76.5%81.0%23.4%-5.6%7.1M-403.6M-19.5M0.996.9460,03159,5381,670,1471,952,251
2008-09-25$34.37$35.0069.5%19.9%148.1%61.9%72.5%21.2%-2.3%9.9M-656.3M-20.0M0.714.2884,96860,6861,680,8181,974,532
2008-09-26$36.70$35.0067.2%19.3%148.4%59.2%73.6%24.5%-4.0%17.1M-1.58B-20.5M0.625.07116,98272,9861,687,4191,980,147
2008-09-29$30.25$35.00119.1%34.1%164.7%100.0%100.8%27.9%-18.6%5.7M-448.9M-18.4M0.8410.54119,436100,7301,712,7161,968,399
2008-09-30$35.00$35.0081.5%23.4%172.2%63.1%86.3%24.5%-8.3%12.1M-821.2M-20.0M1.3214.8858,11276,6041,710,4041,965,885