C Options History — July 2018

In July 2018, C traded between $66.06 and $72.44. ATM implied volatility averaged 20.3%, placing in the 24.8% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded below realized volatility by 0.4% (HV 20d: 20.7%). Max pain ranged from $65.00 to $68.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.67.

Notable Days

  • 2018-07-13: Highest Volume — 206,818 contracts
  • 2018-07-13: Largest IV drop — 18.2% change
  • 2018-07-03: Highest IV Rank — 55.9%
  • 2018-07-03: Largest Expected Move — 7.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$69.31$66.06$72.44$67.01$71.86
Max Pain$67.52$65.00$68.50$67.50$68.50
ATM IV20.3%17.3%25.0%24.5%18.0%
Expected Move5.8%5.0%7.4%7.2%5.1%
HV 20d20.7%16.0%24.0%17.3%21.7%
HV 60d21.0%19.9%21.5%21.4%21.5%
IV Rank24.8%4.7%55.9%52.6%9.5%
IV Percentile46.8%5.6%90.5%89.7%17.1%
Term Structure-0.1%-1.8%1.0%-0.6%-0.1%
VWIV20.9%18.4%25.4%25.0%19.1%
Skew 25d2.6%2.0%4.9%2.8%2.3%
Skew 10d4.7%2.9%7.9%5.9%4.0%
Call IV 25d19.2%16.2%23.1%23.1%17.3%
Put IV 25d21.8%18.9%27.4%25.9%19.6%
Bid-Ask Spread %4.852.279.522.515.20
Gamma HHI0.100.070.170.070.08
Net GEX54.1M5.0M104.8M18.2M45.9M
Net DEX-463.6M-1.15B610.2M294.1M-939.9M
Net VEX-15.0M-15.7M-14.4M-15.7M-15.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.381.310.601.31
Total Volume94,274.61959,343206,81881,37469,625
Total OI1,581,925.7141,413,0611,707,2321,596,1551,460,528

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-07-02$67.01$67.5024.5%7.2%17.3%52.6%25.0%2.8%-0.6%18.2M294.1M-15.7M0.602.5150,74530,629900,231695,924
2018-07-03$66.06$67.5025.0%7.4%17.7%55.9%25.4%4.9%-1.3%5.0M610.2M-15.3M0.459.5240,90418,439914,332698,248
2018-07-05$66.63$67.5023.9%6.6%16.0%49.1%23.9%2.9%-0.4%19.6M424.0M-15.1M0.693.9142,99129,740927,147701,318
2018-07-06$67.12$67.5023.2%6.4%16.2%44.3%22.7%2.0%-1.8%52.8M222.7M-15.0M0.555.6554,85530,188932,522706,687
2018-07-09$68.98$67.5022.6%6.3%19.1%40.5%23.5%2.2%-0.0%47.6M-508.0M-15.4M0.564.0271,78940,188899,549692,332
2018-07-10$68.33$67.5022.9%6.7%19.4%42.4%23.1%2.8%1.0%44.4M-277.7M-15.3M0.552.8453,97029,624915,998698,410
2018-07-11$68.03$67.5023.0%6.7%19.0%43.1%24.4%2.7%0.2%40.7M-163.9M-15.3M0.687.3451,88635,363925,108706,411
2018-07-12$68.54$67.5023.5%6.7%19.1%45.9%22.7%2.3%0.2%50.6M-356.5M-15.6M0.632.5162,03139,005933,516722,977
2018-07-13$67.07$67.5019.2%5.5%19.5%17.6%19.9%2.5%-0.2%14.1M469.9M-14.4M0.482.83139,47967,339956,898749,539
2018-07-16$69.55$65.0019.3%5.5%23.2%18.3%20.0%2.8%-0.5%93.7M-856.0M-15.0M0.387.32104,19540,005938,022724,188
2018-07-17$69.49$67.5019.0%5.4%23.3%16.2%19.3%2.9%-0.3%90.9M-779.5M-15.0M0.665.6446,91131,134933,528733,825
2018-07-18$69.92$67.5018.2%5.2%23.3%11.2%18.4%2.3%0.1%104.8M-1.02B-14.8M0.502.3749,90725,032939,882741,771
2018-07-19$69.09$67.5018.8%5.4%23.6%15.3%19.8%2.9%0.4%82.7M-523.9M-14.8M0.552.2764,87335,541945,268744,776
2018-07-20$69.33$67.5017.8%5.1%23.7%8.4%18.4%2.5%-0.2%93.9M-629.9M-14.6M0.832.4052,11043,461955,131752,101
2018-07-23$70.27$67.5018.4%5.3%24.0%12.0%19.3%2.4%0.1%44.1M-642.2M-15.0M0.702.7651,31235,754808,406604,655
2018-07-24$71.05$67.5018.1%5.2%22.3%10.1%19.0%2.3%0.1%54.6M-881.4M-14.9M0.456.2084,34037,912816,710610,752
2018-07-25$71.60$67.5017.3%5.0%22.2%4.7%18.4%2.7%0.3%56.2M-1.00B-15.0M0.856.9234,07728,906825,798625,619
2018-07-26$71.33$67.5017.7%5.1%21.8%7.4%18.9%2.1%0.1%59.3M-948.2M-14.8M1.277.2031,90940,467830,662629,619
2018-07-27$71.71$68.5017.4%5.0%21.3%5.5%18.5%2.6%0.1%65.9M-1.07B-14.9M0.867.8740,70534,975836,278643,169
2018-07-30$72.44$68.5018.3%5.3%21.4%11.3%19.2%2.7%-0.2%52.0M-1.15B-14.8M0.524.4970,53336,918815,570627,035
2018-07-31$71.86$68.5018.0%5.1%21.7%9.5%19.1%2.3%-0.1%45.9M-939.9M-15.0M1.315.2030,07639,549824,746635,782