C Options History — May 2015

In May 2015, C traded between $52.74 and $55.33. ATM implied volatility averaged 16.6%, placing in the 18.8% IV rank vs the trailing year. The 30-day expected move averaged 4.8%. IV traded above realized volatility by 0.8% (HV 20d: 15.9%). Max pain ranged from $52.50 to $52.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.68.

Notable Days

  • 2015-05-04: Highest Volume — 152,758 contracts
  • 2015-05-06: Largest IV spike — 9.0% change
  • 2015-05-06: Highest IV Rank — 34.3%
  • 2015-05-06: Largest Expected Move — 5.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$54.24$52.74$55.33$53.75$54.18
Max Pain$52.50$52.50$52.50$52.50$52.50
ATM IV16.6%15.3%19.4%17.3%15.8%
Expected Move4.8%4.3%5.7%5.1%4.5%
HV 20d15.9%14.0%18.0%15.5%14.7%
HV 60d18.2%17.9%18.9%18.2%18.0%
IV Rank18.8%11.3%34.3%22.7%14.4%
IV Percentile24.4%7.1%52.8%34.9%15.9%
Term Structure0.2%-0.2%0.6%0.3%0.0%
VWIV17.4%15.3%20.5%18.0%15.8%
Skew 25d1.7%0.9%2.1%1.3%2.1%
Skew 10d3.2%1.4%4.9%2.3%4.9%
Call IV 25d16.2%14.6%19.2%16.9%15.0%
Put IV 25d17.9%16.4%20.5%18.2%17.0%
Bid-Ask Spread %6.834.118.238.008.23
Gamma HHI0.190.130.300.130.14
Net GEX96.6M52.3M168.2M88.6M79.4M
Net DEX-1.21B-1.51B-711.5M-1.13B-993.3M
Net VEX-13.3M-13.9M-12.8M-13.0M-13.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.101.430.480.69
Total Volume83,184.729,701152,75880,91460,257
Total OI1,589,687.951,455,3461,677,1631,569,9571,640,833

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2015-05-01$53.75$52.5017.3%5.1%15.5%22.7%18.0%1.3%0.3%88.6M-1.13B-13.0M0.488.0054,63126,283909,486660,471
2015-05-04$54.17$52.5017.2%5.1%15.4%22.0%18.0%0.9%-0.0%79.1M-1.25B-12.8M0.105.89138,37514,383892,421650,047
2015-05-05$53.30$52.5017.8%5.5%16.7%25.3%18.3%2.1%0.4%69.3M-949.4M-12.9M0.917.2438,77435,397925,855657,947
2015-05-06$52.74$52.5019.4%5.7%17.2%34.3%20.5%1.3%0.0%52.3M-711.5M-13.0M0.667.7355,92237,033931,729670,506
2015-05-07$53.31$52.5018.4%5.6%17.5%29.1%19.6%1.3%0.3%78.0M-950.5M-13.4M0.857.6935,19230,008950,700680,217
2015-05-08$54.02$52.5017.0%5.0%17.9%20.8%17.8%1.3%0.1%168.2M-1.33B-13.2M0.297.9050,33814,383951,621686,108
2015-05-11$53.97$52.5016.9%4.9%17.9%20.2%18.6%1.6%0.2%89.9M-1.20B-12.8M0.764.8916,90312,798937,734678,248
2015-05-12$53.77$52.5016.7%4.9%18.0%19.2%18.3%1.8%0.5%81.5M-1.11B-12.9M1.126.5633,01736,999943,798682,610
2015-05-13$54.23$52.5016.9%4.9%17.9%20.6%17.3%1.5%-0.2%102.5M-1.30B-13.1M0.856.8843,30536,696953,399697,205
2015-05-14$54.55$52.5016.5%4.9%16.7%18.3%17.5%1.5%0.6%122.2M-1.44B-13.5M0.604.1160,73736,481960,262706,051
2015-05-15$54.24$52.5016.5%4.8%14.7%17.9%20.2%1.9%0.4%71.8M-1.27B-13.1M1.435.1040,90558,683962,890714,273
2015-05-18$54.67$52.5016.1%4.7%14.9%16.0%16.7%2.1%-0.2%89.2M-1.23B-12.9M0.668.1733,38021,975846,995608,351
2015-05-19$55.33$52.5015.6%4.5%14.3%13.0%16.1%1.8%0.5%110.7M-1.51B-13.0M0.407.3441,45516,546859,409617,764
2015-05-20$54.93$52.5015.9%4.6%14.3%14.8%16.0%1.9%0.2%105.3M-1.37B-13.1M0.808.1054,49143,625873,343624,849
2015-05-21$54.89$52.5015.9%4.6%14.3%14.8%15.5%1.9%-0.0%105.3M-1.35B-13.4M0.177.23120,13920,330890,898644,098
2015-05-22$55.02$52.5015.3%4.3%14.0%11.3%15.8%1.8%0.3%162.6M-1.46B-13.9M0.726.5930,99422,455934,872649,356
2015-05-26$54.26$52.5016.2%4.6%15.1%16.2%16.3%1.9%0.2%77.2M-1.08B-13.6M0.505.9893,85846,774922,522643,686
2015-05-27$54.91$52.5015.5%4.3%15.5%12.4%15.3%1.7%0.3%104.5M-1.38B-13.8M1.076.0735,55737,905932,645674,243
2015-05-28$54.57$52.5015.6%4.5%14.9%12.8%15.5%1.7%0.3%94.2M-1.18B-13.8M0.606.9047,83528,875938,961687,356
2015-05-29$54.18$52.5015.8%4.5%14.7%14.4%15.8%2.1%0.0%79.4M-993.3M-13.7M0.698.2335,66124,596942,358698,475