C Options History — July 2014

In July 2014, C traded between $46.90 and $50.18. ATM implied volatility averaged 17.4%, placing in the 14.2% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded above realized volatility by 1.6% (HV 20d: 15.8%). Max pain ranged from $47.00 to $50.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 6 of 22 days. Put/call ratio averaged 0.66.

Notable Days

  • 2014-07-15: Highest Volume — 151,612 contracts
  • 2014-07-17: Largest IV spike — 16.4% change
  • 2014-07-10: Highest IV Rank — 30.5%
  • 2014-07-31: Largest Expected Move — 6.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$48.82$46.90$50.18$47.46$48.91
Max Pain$48.68$47.00$50.00$50.00$48.00
ATM IV17.4%14.6%20.6%18.3%19.6%
Expected Move5.8%5.5%6.2%5.9%6.2%
HV 20d15.8%12.5%18.9%14.2%18.9%
HV 60d15.0%12.9%16.4%16.4%14.8%
IV Rank14.2%0.0%30.5%17.5%26.9%
IV Percentile15.5%0.0%40.1%15.5%39.7%
Term Structure-0.2%-1.1%0.7%-0.0%-0.6%
VWIV20.5%19.1%22.4%20.6%21.6%
Skew 25d1.7%0.6%2.8%1.9%2.8%
Skew 10d3.7%1.5%6.4%4.1%4.0%
Call IV 25d17.1%14.8%20.7%18.1%18.9%
Put IV 25d18.8%15.6%21.7%19.9%21.7%
Bid-Ask Spread %14.7112.2416.8614.4714.47
Gamma HHI0.160.110.340.110.12
Net GEX62.4M-2.7M170.1M8.5M41.2M
Net DEX-725.3M-1.47B122.1M-106.3M-588.2M
Net VEX-14.4M-15.1M-13.9M-14.2M-15.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.660.331.410.540.76
Total Volume75,53642,310151,61259,40794,349
Total OI1,963,6991,835,7772,087,9571,899,6331,996,616

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2014-07-01$47.46$50.0018.3%5.9%14.2%17.5%20.6%1.9%-0.0%8.5M-106.3M-14.2M0.5414.4738,63020,7771,019,350880,283
2014-07-02$48.01$50.0018.1%5.8%14.7%16.5%20.5%1.6%-0.5%37.7M-377.3M-14.4M0.4514.1638,52817,1571,029,346889,905
2014-07-03$48.24$50.0018.2%5.8%13.6%17.2%22.4%1.1%-0.9%40.4M-487.3M-14.6M0.5515.0329,64916,3861,041,365899,254
2014-07-07$47.98$50.0018.8%5.8%13.5%20.5%20.7%1.9%-1.1%32.2M-337.5M-14.2M0.6014.2234,98520,8471,030,568887,129
2014-07-08$47.42$50.0019.8%5.9%12.9%26.1%20.9%1.4%-0.1%16.2M-133.8M-14.3M0.5115.4328,59214,5891,042,378896,237
2014-07-09$47.38$50.0019.5%5.9%12.9%24.5%20.6%1.1%-0.7%14.0M-75.7M-14.2M0.4212.6929,72512,5851,056,076901,531
2014-07-10$46.90$50.0020.6%5.9%12.9%30.5%21.6%0.9%-1.0%-2.7M122.1M-13.9M0.3716.8660,78222,7611,061,114909,274
2014-07-11$47.00$48.0019.9%5.8%12.5%26.3%20.3%1.0%-1.1%10.5M70.7M-13.9M0.6414.8155,64735,7831,098,947919,142
2014-07-14$48.42$47.0017.0%5.7%15.8%10.5%19.9%1.3%-0.0%74.9M-716.0M-13.9M0.4913.7689,26243,7971,089,184912,570
2014-07-15$49.29$47.0015.8%5.6%16.9%3.6%19.7%0.7%0.4%125.9M-1.19B-14.1M0.4015.24108,50143,1111,102,195919,821
2014-07-16$49.82$47.0014.6%5.5%17.2%0.0%19.6%0.6%0.6%170.1M-1.47B-14.4M0.4216.1678,06932,6041,114,232934,970
2014-07-17$49.18$47.0017.0%5.8%18.0%13.1%20.5%1.6%-0.3%105.7M-1.03B-14.6M0.7616.4461,80746,8971,112,199935,212
2014-07-18$49.56$48.0015.0%5.6%17.8%2.2%19.4%1.0%0.2%76.8M-1.21B-14.6M0.3715.1656,36121,0211,131,131956,826
2014-07-21$49.35$49.0015.5%5.7%17.8%4.8%21.4%1.6%0.7%59.4M-837.3M-14.3M1.1715.7730,14535,351995,464840,313
2014-07-22$49.60$48.0015.8%5.6%17.1%6.2%19.5%2.4%-0.2%68.3M-961.2M-14.4M0.5015.8932,03415,9791,014,162859,787
2014-07-23$50.18$48.0016.2%5.6%17.3%8.5%19.1%2.3%0.1%76.6M-1.25B-14.6M0.5816.3178,31245,3511,023,130865,227
2014-07-24$50.09$49.0016.3%5.7%17.3%9.0%20.8%2.4%-0.5%83.0M-1.24B-14.7M1.1415.1035,12240,1141,047,373895,039
2014-07-25$50.03$50.0016.5%5.7%16.5%10.3%20.7%2.6%0.1%126.2M-1.16B-14.9M0.7613.5324,44718,5531,058,223924,043
2014-07-28$49.70$49.0017.2%5.8%16.8%13.8%20.5%2.1%-0.1%65.4M-959.0M-14.9M1.2912.2421,25027,5071,040,106911,983
2014-07-29$49.42$48.0016.8%5.8%17.0%11.6%20.9%2.3%-0.3%63.4M-868.9M-14.7M1.4112.6619,24427,0571,046,359919,717
2014-07-30$50.00$48.0017.0%5.8%17.2%13.2%20.3%2.6%-0.1%79.4M-1.15B-14.8M0.3313.3243,71914,4051,053,086940,511
2014-07-31$48.91$48.0019.6%6.2%18.9%26.9%21.6%2.8%-0.6%41.2M-588.2M-15.1M0.7614.4753,69540,6541,057,404939,212