BAC Options History — April 2009

In April 2009, BAC traded between $7.05 and $11.02. ATM implied volatility averaged 129.0%, placing in the 43.3% IV rank vs the trailing year. The 30-day expected move averaged 38.5%. IV traded below realized volatility by 58.9% (HV 20d: 187.8%). Max pain ranged from $6.00 to $9.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.64.

Notable Days

  • 2009-04-09: Highest Volume — 1,175,731 contracts
  • 2009-04-09: Largest IV spike — 18.4% change
  • 2009-04-14: Highest IV Rank — 50.9%
  • 2009-04-14: Largest Expected Move — 42.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.74$7.05$11.02$7.05$8.93
Max Pain$8.21$6.00$9.00$6.00$9.00
ATM IV129.0%102.9%146.9%142.0%125.0%
Expected Move38.5%35.2%42.1%40.7%35.8%
HV 20d187.8%167.9%206.1%200.3%175.3%
HV 60d203.7%192.4%218.1%208.3%194.4%
IV Rank43.3%32.2%50.9%48.9%41.6%
IV Percentile74.3%65.5%82.1%79.4%69.8%
Term Structure-6.3%-25.7%26.4%11.9%-3.5%
VWIV134.9%120.4%147.4%142.3%124.9%
Skew 25d22.3%15.2%29.4%15.2%17.7%
Skew 10d42.5%29.1%58.9%29.1%33.1%
Call IV 25d124.4%113.8%136.7%134.7%120.8%
Put IV 25d146.8%131.4%157.8%149.8%138.5%
Bid-Ask Spread %2.251.483.043.042.44
Gamma HHI0.140.110.200.110.15
Net GEX5.8M2.7M9.7M3.7M7.2M
Net DEX-541.6M-1.36B-167.6M-277.3M-412.9M
Net VEX-5.9M-7.6M-4.4M-4.4M-7.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.640.391.030.660.58
Total Volume606,175.381186,2051,175,731422,937491,258
Total OI4,626,290.2383,823,1595,807,5223,823,1595,807,522

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-04-01$7.05$6.00142.0%40.7%200.3%48.9%142.3%15.2%11.9%3.7M-277.3M-4.4M0.663.04254,732168,2052,308,0171,515,142
2009-04-02$7.24$6.00122.8%35.2%191.4%40.7%120.4%19.9%26.4%4.3M-310.3M-4.6M0.393.00291,917114,0862,383,2331,588,139
2009-04-03$7.60$7.50102.9%38.4%190.5%32.2%129.8%24.1%-8.1%5.4M-370.7M-4.7M0.412.28143,92459,3382,415,4631,611,750
2009-04-06$7.48$7.50117.1%40.5%184.8%38.2%138.9%26.5%-11.0%5.1M-339.0M-4.6M0.742.00138,667102,7592,427,0421,618,506
2009-04-07$7.36$7.50115.0%39.9%167.9%37.4%138.8%27.4%-11.0%5.1M-305.4M-4.5M0.461.79127,96358,2422,453,5081,647,842
2009-04-08$7.06$7.50109.7%40.8%169.3%35.1%147.4%28.3%-13.1%4.6M-237.3M-4.4M0.851.48198,480168,4232,497,3641,652,196
2009-04-09$9.55$7.50129.9%37.2%190.1%43.7%133.5%27.5%-12.5%8.3M-945.8M-5.7M0.442.14819,144356,5872,546,8151,728,152
2009-04-13$11.02$7.50140.0%40.1%194.0%48.0%144.3%25.0%-25.7%8.5M-1.36B-6.3M0.652.38696,403450,0462,645,1931,840,932
2009-04-14$10.09$7.50146.9%42.1%198.0%50.9%146.3%17.8%-25.6%8.5M-1.05B-6.4M0.562.60486,727270,8082,722,8441,984,035
2009-04-15$10.44$9.00140.5%40.3%198.0%48.2%138.8%18.5%-20.4%7.9M-1.10B-6.5M0.592.59342,373202,2962,765,4502,069,509
2009-04-16$10.34$9.00128.8%36.9%187.0%43.3%126.7%17.3%-16.2%9.0M-1.09B-6.4M0.552.61358,420196,4202,790,7862,088,078
2009-04-17$10.60$9.00123.4%35.4%181.9%41.0%123.9%17.2%-15.9%9.7M-1.18B-6.6M0.502.14467,281234,2652,839,7662,140,646
2009-04-20$8.02$9.00142.5%40.8%206.1%49.1%138.0%21.9%-1.4%2.7M-167.6M-5.3M0.632.18663,980419,6192,330,6631,695,703
2009-04-21$8.76$9.00126.8%36.3%191.7%42.4%132.1%29.3%5.7%3.8M-311.2M-6.0M0.831.74436,504362,1002,467,8721,817,780
2009-04-22$8.26$9.00125.9%36.1%190.9%42.0%133.7%29.1%6.1%3.0M-191.4M-5.8M1.032.04357,359369,7362,574,7561,954,210
2009-04-23$8.82$9.00135.6%38.9%191.1%46.1%135.4%29.4%-4.7%3.9M-340.2M-6.4M0.552.54606,814333,5422,682,7072,044,607
2009-04-24$9.10$9.00133.0%38.1%191.1%45.0%133.9%22.3%-2.9%5.7M-474.6M-7.2M0.682.34326,226220,4273,033,5652,216,680
2009-04-27$8.92$9.00128.8%36.9%190.8%43.2%133.0%20.3%-1.8%5.9M-406.8M-7.1M1.001.64126,973126,4903,070,6212,258,161
2009-04-28$8.15$9.00143.2%41.0%178.9%49.4%137.9%19.0%-7.3%4.0M-175.2M-6.5M0.601.98369,126220,9343,084,5132,285,498
2009-04-29$8.68$9.00128.8%36.9%175.3%43.3%132.7%15.2%-2.1%5.7M-323.2M-6.9M0.742.35339,958251,1313,199,4592,347,370
2009-04-30$8.93$9.00125.0%35.8%175.3%41.6%124.9%17.7%-3.5%7.2M-412.9M-7.6M0.582.44310,309180,9493,343,5192,464,003