C Options History — April 2007

In April 2007, C traded between $510.50 and $538.00. ATM implied volatility averaged 16.3%. The 30-day expected move averaged 4.7%. IV traded below realized volatility by 0.5% (HV 20d: 16.8%). Max pain ranged from $500.00 to $525.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 0.86.

Notable Days

  • 2007-04-16: Highest Volume — 9,481 contracts
  • 2007-04-26: Largest IV spike — 20.0% change
  • 2007-04-02: Largest Expected Move — 5.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$524.83$510.50$538.00$510.50$536.20
Max Pain$506.25$500.00$525.00$500.00$525.00
ATM IV16.3%13.4%20.7%20.7%17.0%
Expected Move4.7%3.8%5.9%5.9%4.9%
HV 20d16.8%13.9%22.0%22.0%14.9%
HV 60d19.6%19.0%20.2%19.1%19.7%
Term Structure-0.5%-1.7%0.6%-0.6%-1.7%
VWIV17.5%14.0%21.1%20.4%15.8%
Skew 25d3.4%1.8%5.7%4.5%2.8%
Skew 10d7.4%1.2%13.7%12.4%6.9%
Call IV 25d14.8%13.3%17.1%17.1%15.0%
Put IV 25d18.2%16.3%21.6%21.6%17.8%
Bid-Ask Spread %6.024.048.996.334.81
Gamma HHI0.270.200.400.200.40
Net GEX63.5M40.2M88.3M40.2M79.9M
Net DEX-1.70B-2.11B-1.19B-1.19B-2.00B
Net VEX-18.4M-19.3M-17.7M-18.6M-19.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.860.222.380.840.53
Total Volume4,505.451,0029,4812,3307,024
Total OI165,758.8157,513175,863157,513171,329

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2007-04-02$510.50$500.0020.7%5.9%22.0%0.0%20.4%4.5%-0.6%40.2M-1.19B-18.6M0.846.331,2641,06691,38366,130
2007-04-03$514.10$500.0016.7%4.8%20.1%0.0%18.4%5.7%0.3%45.3M-1.33B-18.6M1.064.0451154491,61766,433
2007-04-04$513.60$500.0016.9%4.8%19.9%0.0%19.2%4.2%-0.1%45.6M-1.32B-18.4M0.924.8552148191,68766,771
2007-04-05$515.70$500.0016.2%4.6%19.8%0.0%19.8%5.7%0.3%49.4M-1.49B-18.0M2.384.498412,00391,93066,868
2007-04-09$515.80$500.0017.8%4.8%19.7%0.0%21.1%4.4%-0.1%48.3M-1.42B-17.9M2.066.176531,34592,26567,783
2007-04-10$524.00$500.0016.4%4.7%20.4%0.0%16.7%3.2%0.1%60.5M-1.68B-18.5M0.817.462,1001,71092,55368,773
2007-04-11$518.00$500.0018.1%4.8%16.7%0.0%17.7%3.8%-0.1%52.1M-1.51B-17.9M0.938.913,0382,83393,23169,421
2007-04-12$516.50$500.0015.5%4.4%16.8%0.0%17.0%3.3%0.1%49.4M-1.44B-17.9M0.595.074,5782,68294,16171,303
2007-04-13$516.00$500.0015.8%4.5%15.3%0.0%17.9%3.3%-0.8%48.8M-1.34B-18.4M1.135.182,4682,79195,13472,694
2007-04-16$529.30$500.0015.8%4.5%16.7%0.0%15.7%2.6%-0.6%81.8M-1.99B-17.7M0.225.387,7641,71795,82374,507
2007-04-17$525.30$500.0015.7%4.5%16.9%0.0%17.0%3.5%-0.3%88.3M-1.86B-18.3M0.947.272,9342,76798,51974,236
2007-04-18$529.90$500.0016.4%4.7%16.7%0.0%17.9%2.1%-0.7%85.1M-2.11B-18.2M0.315.785,6511,76698,66676,075
2007-04-19$530.90$500.0016.3%4.7%13.9%0.0%17.2%3.3%-1.1%75.3M-2.11B-18.5M0.345.923,2801,11799,35876,505
2007-04-20$534.20$500.0015.7%4.5%13.9%0.0%15.2%3.0%-1.0%79.3M-2.08B-19.0M0.288.004,7481,33398,46176,609
2007-04-23$531.10$500.0015.4%4.4%14.1%0.0%15.4%1.9%-0.4%65.2M-1.75B-18.4M0.808.991,5081,20892,77768,998
2007-04-24$528.10$525.0015.3%4.4%14.2%0.0%17.0%2.6%-0.7%59.2M-1.61B-18.3M0.884.862,2611,99993,04669,755
2007-04-25$538.00$525.0013.4%3.8%14.9%0.0%14.0%3.2%0.6%73.0M-2.02B-18.7M0.714.682,5831,84694,04370,975
2007-04-26$535.60$525.0016.1%4.6%15.0%0.0%18.2%1.8%-1.4%73.6M-1.98B-18.1M0.846.081,8031,50895,28171,698
2007-04-27$533.70$525.0015.6%4.5%15.0%0.0%18.4%2.7%-1.0%69.6M-1.82B-19.2M0.686.192,3041,55995,86972,509
2007-04-30$536.20$525.0017.0%4.9%14.9%0.0%15.8%2.8%-1.7%79.9M-2.00B-19.3M0.534.814,5962,42897,75973,570