C Options History — May 2009

In May 2009, C traded between $29.70 and $40.20. ATM implied volatility averaged 114.5%, placing in the 30.2% IV rank vs the trailing year. The 30-day expected move averaged 32.3%. IV traded above realized volatility by 0.7% (HV 20d: 113.8%). Max pain ranged from $40.00 to $50.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.58.

Notable Days

  • 2009-05-07: Highest Volume — 270,426 contracts
  • 2009-05-08: Largest IV drop — 46.7% change
  • 2009-05-13: Highest IV Rank — 55.4%
  • 2009-05-05: Largest Expected Move — 42.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$36.24$29.70$40.20$29.70$37.20
Max Pain$49.50$40.00$50.00$40.00$50.00
ATM IV114.5%79.6%192.1%129.0%79.8%
Expected Move32.3%22.8%42.8%37.0%22.9%
HV 20d113.8%80.5%150.0%140.4%80.5%
HV 60d191.3%149.4%208.6%206.5%149.4%
IV Rank30.2%18.9%55.4%34.9%19.0%
IV Percentile50.6%30.2%85.3%59.9%30.2%
Term Structure-7.2%-34.7%16.3%16.3%8.5%
VWIV123.2%85.2%153.5%136.7%88.5%
Skew 25d1.3%-9.2%14.2%14.2%7.2%
Skew 10d5.6%-15.0%28.8%5.6%1.7%
Call IV 25d115.4%84.2%151.5%142.5%84.5%
Put IV 25d116.8%87.7%156.7%156.7%91.8%
Bid-Ask Spread %1.911.302.782.411.63
Gamma HHI0.230.170.310.170.28
Net GEX4.7M2.3M8.4M2.3M5.3M
Net DEX639.2M203.8M923.6M585.8M923.6M
Net VEX-5.6M-6.3M-4.9M-4.9M-5.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.390.720.610.59
Total Volume119,537.942,814270,42642,81475,292
Total OI1,570,878.551,436,8051,704,4751,517,2201,598,716

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-05-01$29.70$40.00129.0%37.0%140.4%34.9%136.7%14.2%16.3%2.3M585.8M-4.9M0.612.4126,52116,293870,451646,769
2009-05-04$32.00$50.00144.6%41.5%142.1%40.0%150.0%-7.0%-34.7%2.8M550.1M-5.2M0.572.1832,27318,311881,653652,336
2009-05-05$33.10$50.00149.5%42.8%141.0%41.6%148.9%-9.2%-27.1%3.3M471.3M-5.3M0.652.4142,15627,485883,970654,373
2009-05-06$38.60$50.00161.0%41.1%150.0%45.3%150.3%-3.1%-25.6%5.6M223.0M-6.1M0.722.7889,77664,887892,266662,055
2009-05-07$38.10$50.00152.0%42.8%149.8%42.4%153.5%-4.3%-29.6%6.2M203.8M-6.3M0.652.42163,623106,803903,074662,956
2009-05-08$40.20$50.0081.0%35.8%145.6%19.4%130.8%-5.2%-21.4%8.4M250.4M-6.1M0.662.30130,07085,415915,337677,395
2009-05-11$38.60$50.00114.5%37.1%123.9%30.2%139.0%-5.3%-23.1%6.6M471.0M-5.9M0.492.0079,29939,011942,355704,926
2009-05-12$36.60$50.00137.6%36.1%123.6%37.7%132.8%12.3%-12.5%4.8M645.8M-5.7M0.521.83124,24065,122939,969715,999
2009-05-13$34.10$50.00192.1%36.2%125.8%55.4%143.0%-4.7%-7.3%2.4M880.9M-5.3M0.392.1768,44326,731962,833740,547
2009-05-14$35.50$50.00119.2%34.2%126.8%31.8%143.1%1.4%-8.9%3.5M787.1M-5.2M0.491.9459,61529,095951,049723,534
2009-05-15$34.80$50.00122.2%35.0%122.7%32.7%127.4%2.5%-7.9%3.8M726.6M-5.5M0.661.8063,33641,842969,442735,033
2009-05-18$36.40$50.0099.7%28.6%93.9%25.4%111.3%-1.5%-0.3%4.0M715.7M-5.4M0.521.4274,81238,737829,609607,196
2009-05-19$37.70$50.0090.4%25.9%88.8%22.4%94.4%2.7%-1.1%5.2M710.0M-5.5M0.591.3085,87050,627849,655622,499
2009-05-20$36.90$50.0089.0%25.5%89.4%22.0%100.4%-1.6%4.7%4.6M759.1M-5.4M0.521.37114,75459,891862,870630,954
2009-05-21$37.20$50.0091.3%26.2%89.0%22.7%105.8%-0.7%3.0%5.1M727.0M-5.8M0.661.4671,66647,346882,418648,495
2009-05-22$36.70$50.0084.6%24.2%89.3%20.5%102.8%-0.9%6.1%4.8M795.3M-5.7M0.591.6439,85823,467870,760650,580
2009-05-26$37.70$50.0089.4%25.6%87.9%22.1%125.9%9.7%2.0%5.1M573.8M-6.0M0.701.4855,69539,081875,828646,833
2009-05-27$37.00$50.0079.6%22.8%84.6%18.9%85.2%10.8%7.1%5.4M905.4M-5.2M0.521.8478,14440,810893,435668,055
2009-05-28$36.70$50.0084.0%24.1%81.3%20.4%94.0%9.2%8.3%5.7M879.2M-5.5M0.461.7464,74329,618911,082680,264
2009-05-29$37.20$50.0079.8%22.9%80.5%19.0%88.5%7.2%8.5%5.3M923.6M-5.5M0.591.6347,34727,945911,668687,048