BAC Options History — September 2009

In September 2009, BAC traded between $16.27 and $17.63. ATM implied volatility averaged 48.1%, placing in the 2.6% IV rank vs the trailing year. The 30-day expected move averaged 14.2%. IV traded above realized volatility by 8.0% (HV 20d: 40.1%). Max pain ranged from $16.00 to $17.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.67.

Notable Days

  • 2009-09-01: Highest Volume — 656,304 contracts
  • 2009-09-10: Largest IV spike — 23.0% change
  • 2009-09-14: Highest IV Rank — 4.6%
  • 2009-09-08: Largest Expected Move — 15.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.07$16.27$17.63$16.46$16.92
Max Pain$16.86$16.00$17.00$16.00$17.00
ATM IV48.1%42.1%52.3%50.5%48.1%
Expected Move14.2%13.1%15.8%14.5%13.8%
HV 20d40.1%30.6%52.8%52.8%30.6%
HV 60d50.4%46.3%57.3%57.0%46.4%
IV Rank2.6%0.0%4.6%3.2%2.7%
IV Percentile8.3%0.0%14.3%8.7%10.3%
Term Structure1.5%-1.2%8.7%7.1%-1.1%
VWIV50.5%46.7%56.2%51.3%48.9%
Skew 25d5.2%2.9%8.9%2.9%4.3%
Skew 10d10.9%6.1%18.0%9.0%8.4%
Call IV 25d48.3%45.6%51.3%50.7%47.9%
Put IV 25d53.4%48.8%60.2%53.6%52.2%
Bid-Ask Spread %3.042.014.363.472.75
Gamma HHI0.130.110.210.110.14
Net GEX28.2M19.0M47.0M19.0M24.9M
Net DEX-2.21B-2.73B-1.74B-1.78B-1.98B
Net VEX-13.0M-13.9M-12.5M-13.2M-12.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.390.990.730.67
Total Volume290,993.238163,273656,304656,304346,138
Total OI5,684,027.1435,285,8756,029,1845,411,0945,767,322

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-09-01$16.46$16.0050.5%14.5%52.8%3.2%51.3%2.9%7.1%19.0M-1.78B-13.2M0.733.47379,372276,9323,267,1982,143,896
2009-09-02$16.27$16.0050.3%14.4%47.9%3.1%51.0%4.2%8.1%19.9M-1.74B-13.4M0.642.32272,017173,6903,353,2722,174,687
2009-09-03$16.84$16.0046.5%13.3%49.5%1.4%49.4%5.3%8.7%24.8M-2.05B-13.9M0.642.01141,23790,1593,402,9652,214,295
2009-09-04$17.09$17.0043.4%15.4%49.3%0.0%54.8%8.2%0.7%27.5M-2.25B-13.6M0.793.75118,37393,9463,429,6022,237,516
2009-09-08$17.02$17.0045.6%15.8%49.1%1.0%56.2%8.9%-0.1%26.9M-2.20B-13.4M0.793.3791,27471,9993,431,0462,262,710
2009-09-09$17.04$17.0042.1%15.4%45.1%0.0%54.1%7.7%-0.3%27.1M-2.26B-12.8M0.682.43131,89689,4893,445,4472,280,960
2009-09-10$17.22$17.0051.8%14.9%45.2%4.4%52.6%7.2%0.1%30.2M-2.39B-12.9M0.723.88146,433105,2233,480,8622,306,484
2009-09-11$16.97$17.0051.2%14.7%39.3%4.1%51.4%7.2%0.0%27.6M-2.20B-13.0M0.753.78126,13695,0173,518,5322,336,879
2009-09-14$16.99$17.0052.3%15.0%38.4%4.6%53.0%6.8%0.3%28.4M-2.22B-12.7M0.524.36180,68694,5803,519,6132,331,184
2009-09-15$16.79$17.0051.0%14.6%34.3%4.0%51.6%6.4%1.9%25.4M-2.11B-12.7M0.522.76139,82272,5603,548,4682,332,420
2009-09-16$17.25$17.0049.9%14.3%34.9%3.5%49.9%4.1%2.2%33.4M-2.43B-12.5M0.553.80176,40497,6773,565,7492,348,917
2009-09-17$17.61$17.0049.6%14.2%35.4%3.4%52.0%4.6%1.9%45.2M-2.73B-12.8M0.393.25328,387129,5993,583,4082,360,350
2009-09-18$17.63$17.0045.8%13.1%34.6%1.7%48.2%3.3%2.3%47.0M-2.73B-12.6M0.522.85255,807133,7843,642,2822,386,902
2009-09-21$17.25$17.0047.5%13.6%34.9%2.4%47.6%3.9%0.4%25.3M-2.22B-12.5M0.842.78137,660116,0583,219,9582,065,917
2009-09-22$17.61$17.0045.9%13.2%35.6%1.7%46.8%3.2%0.9%27.8M-2.41B-12.7M0.463.17169,85177,3923,265,6432,119,419
2009-09-23$17.50$17.0047.2%13.5%34.7%2.3%46.7%3.5%-0.3%28.3M-2.39B-12.7M0.713.01167,742119,4153,315,5152,157,743
2009-09-24$16.98$17.0048.8%14.0%36.2%3.0%49.9%4.4%-0.2%25.7M-2.09B-12.8M0.612.85194,034119,1323,356,3872,180,976
2009-09-25$16.60$17.0048.9%14.0%36.7%3.1%50.1%4.6%1.3%22.8M-1.90B-12.8M0.722.91134,57296,7023,396,3962,209,452
2009-09-28$17.22$17.0048.1%13.8%39.4%2.7%48.8%4.2%-0.8%27.9M-2.16B-13.1M0.992.1993,70192,4843,422,5182,254,986
2009-09-29$17.16$17.0046.4%13.3%38.7%1.9%47.2%3.5%-1.2%27.6M-2.12B-13.1M0.802.21130,052103,4263,441,2672,285,427
2009-09-30$16.92$17.0048.1%13.8%30.6%2.7%48.9%4.3%-1.1%24.9M-1.98B-12.9M0.672.75207,251138,8873,457,2832,310,039