C Options History — July 2013

In July 2013, C traded between $47.67 and $53.00. ATM implied volatility averaged 24.4%, placing in the 10.8% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded below realized volatility by 1.4% (HV 20d: 25.8%). Max pain ranged from $48.00 to $53.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.79.

Notable Days

  • 2013-07-15: Highest Volume — 244,517 contracts
  • 2013-07-15: Largest IV drop — 11.4% change
  • 2013-07-03: Highest IV Rank — 26.8%
  • 2013-07-03: Largest Expected Move — 8.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$50.99$47.67$53.00$48.25$52.14
Max Pain$49.86$48.00$53.00$49.00$52.00
ATM IV24.4%21.1%28.9%28.2%23.0%
Expected Move7.0%6.1%8.3%8.1%6.6%
HV 20d25.8%17.7%32.1%32.1%18.3%
HV 60d26.2%25.5%27.3%27.1%25.5%
IV Rank10.8%0.0%26.8%24.2%6.9%
IV Percentile17.5%0.0%50.4%42.1%10.3%
Term Structure-0.2%-1.6%0.9%-0.7%-0.2%
VWIV24.7%21.1%29.5%27.1%23.2%
Skew 25d2.8%1.7%3.9%3.9%2.9%
Skew 10d5.7%3.5%7.5%7.5%6.3%
Call IV 25d23.4%20.4%27.2%26.4%21.8%
Put IV 25d26.2%22.7%30.8%30.3%24.7%
Bid-Ask Spread %7.512.7819.808.077.15
Gamma HHI0.160.100.480.120.11
Net GEX45.2M4.3M156.1M13.2M35.8M
Net DEX-1.91B-2.77B-707.1M-969.9M-2.06B
Net VEX-17.0M-18.4M-15.6M-18.2M-16.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.790.351.280.800.50
Total Volume99,317.09143,880244,51780,88280,853
Total OI2,339,461.0452,186,1092,469,1282,294,9402,313,785

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2013-07-01$48.25$49.0028.2%8.1%32.1%24.2%27.1%3.9%-0.7%13.2M-969.9M-18.2M0.808.0745,00835,8741,046,5991,248,341
2013-07-02$48.15$49.0028.1%8.1%31.9%23.9%28.1%3.3%-0.9%12.2M-917.1M-18.3M1.029.7344,05944,7771,058,1411,253,914
2013-07-03$47.67$48.0028.9%8.3%31.1%26.8%29.5%3.6%-1.3%4.3M-707.1M-18.4M1.267.5821,54727,0661,067,7631,268,899
2013-07-05$48.53$48.0027.2%7.8%31.2%20.4%27.7%3.5%-0.8%8.9M-1.05B-18.4M0.767.4850,23038,0071,071,6841,277,106
2013-07-08$49.52$48.0027.2%7.8%31.7%20.5%27.9%3.2%-1.2%32.3M-1.46B-17.6M0.637.6275,16647,5931,051,0511,263,816
2013-07-09$50.21$48.0027.6%7.9%32.0%22.0%28.3%3.1%-1.5%41.3M-1.73B-18.0M1.098.0647,34051,3691,070,2071,280,304
2013-07-10$49.63$48.0027.8%8.0%29.2%22.5%28.5%3.0%-1.6%34.3M-1.51B-17.7M0.628.4447,37829,4231,077,0741,299,242
2013-07-11$50.04$0.0027.3%7.9%29.1%20.8%27.0%2.6%-0.9%45.4M-1.74B-17.6M0.602.7878,17347,0571,087,8631,304,025
2013-07-12$50.81$50.0026.0%7.5%28.9%15.7%27.3%2.3%-0.5%48.7M-2.09B-17.3M0.5819.80104,93761,2111,102,1621,312,293
2013-07-15$51.81$48.0023.0%6.5%28.5%4.5%23.7%2.1%0.4%64.5M-2.50B-16.4M0.736.92141,039103,4781,090,6331,297,489
2013-07-16$51.83$48.0022.5%6.4%28.5%2.6%23.2%2.2%0.8%68.5M-2.51B-16.8M0.675.5575,01850,5931,109,6431,326,119
2013-07-17$51.79$48.0022.0%6.3%28.2%0.4%22.8%1.7%0.6%63.5M-2.43B-16.4M0.685.9067,29045,5881,115,0451,352,803
2013-07-18$52.69$48.0021.6%6.2%28.4%0.0%22.1%2.3%0.9%86.4M-2.77B-16.1M0.355.0088,95831,4591,102,0151,351,434
2013-07-19$52.35$48.0021.4%6.1%25.2%0.0%22.0%2.2%0.9%156.1M-2.52B-16.3M0.704.5842,54229,7611,106,3431,362,785
2013-07-22$53.00$52.0021.3%6.1%23.4%0.0%21.2%2.5%0.8%45.9M-2.44B-15.6M0.857.7845,77938,995964,8061,221,303
2013-07-23$52.88$52.5021.1%6.1%19.1%0.0%21.1%2.3%0.7%48.5M-2.41B-15.9M0.666.5145,05329,514989,2761,236,733
2013-07-24$52.19$53.0022.3%6.4%17.8%4.4%22.2%2.9%0.4%43.6M-2.14B-16.5M1.087.4833,83936,6011,004,2781,244,310
2013-07-25$52.66$52.5021.9%6.3%17.7%3.0%22.3%2.6%0.3%49.1M-2.29B-16.9M0.719.3158,94642,1231,011,4001,259,166
2013-07-26$52.21$52.0022.3%6.4%18.0%4.5%22.3%2.8%0.3%37.6M-2.18B-16.6M0.976.8236,12734,9991,028,4921,278,272
2013-07-29$51.64$53.0023.1%6.7%18.4%7.4%22.9%2.9%0.1%28.1M-1.82B-16.7M1.286.6637,81948,507996,9161,268,222
2013-07-30$51.78$52.0022.8%6.5%18.4%6.2%22.5%3.1%0.0%26.8M-1.86B-16.5M0.796.0024,58119,2991,005,5851,290,806
2013-07-31$52.14$52.0023.0%6.6%18.3%6.9%23.2%2.9%-0.2%35.8M-2.06B-16.4M0.507.1553,94626,9071,015,1601,298,625