CBU Options History — December 2008

In December 2008, CBU traded between $20.71 and $24.39. ATM implied volatility averaged 65.5%. The 30-day expected move averaged 18.8%. IV traded below realized volatility by 24.2% (HV 20d: 89.8%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.00.

Notable Days

  • 2008-12-17: Highest Volume — 480 contracts
  • 2008-12-09: Largest IV spike — 29.6% change
  • 2008-12-01: Largest Expected Move — 23.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.75$20.71$24.39$20.71$24.39
Max Pain$25.00$25.00$25.00$25.00$25.00
ATM IV65.5%55.9%87.3%81.3%64.3%
Expected Move18.8%17.1%23.3%23.3%18.4%
HV 20d89.8%54.7%107.0%103.5%54.7%
Term Structure1.8%-1.8%6.9%2.1%-1.7%
VWIV60.5%55.5%66.2%64.5%55.5%
Bid-Ask Spread %68.8926.90111.38111.3897.39
Gamma HHI0.670.430.970.500.76
Net GEX10.6K25437.8K341254
Net DEX-139.5K-441.3K-6.4K-17.1K-6.4K
Net VEX-538-1.5K-33-105-33
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.000.000.00
Total Volume25.455048000
Total OI221.4559565209

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2008-12-01$20.71$0.0081.3%23.3%103.5%0.0%0.0%0.0%2.1%341-17.1K-1050.00111.3800200
2008-12-02$22.55$0.0060.3%17.3%107.0%0.0%0.0%0.0%2.8%375-16.4K-1080.0098.5000200
2008-12-03$22.92$0.0059.8%17.1%104.0%0.0%0.0%0.0%-0.3%392-18.5K-1140.0082.8500200
2008-12-04$22.60$0.0063.1%18.1%100.9%0.0%0.0%0.0%6.0%385-19.4K-1160.00100.1300200
2008-12-05$23.67$0.0055.9%19.1%99.8%0.0%0.0%0.0%3.1%414-19.2K-1160.0076.5400200
2008-12-08$23.49$0.0067.4%19.4%97.2%0.0%64.5%0.0%0.7%413-20.5K-1160.0026.9010200
2008-12-09$22.39$25.0087.3%20.3%96.7%0.0%0.0%0.0%4.4%426-20.2K-1130.0068.9700210
2008-12-10$23.07$25.0061.8%19.5%97.2%0.0%66.2%0.0%0.5%450-20.3K-1170.0042.4290210
2008-12-11$21.34$25.0069.4%19.9%100.8%0.0%0.0%0.0%6.4%653-22.4K-1320.0066.0500300
2008-12-12$22.30$25.0066.3%19.0%102.2%0.0%0.0%0.0%6.2%681-21.1K-1300.0070.24150300
2008-12-15$21.42$25.0069.6%20.0%100.2%0.0%0.0%0.0%4.1%735-21.5K-1380.0053.26020450
2008-12-16$22.92$25.0063.4%18.2%96.4%0.0%55.8%0.0%-0.0%1.1K-12.6K-2540.0060.322004520
2008-12-17$22.98$25.0067.0%19.2%92.3%0.0%55.5%0.0%-1.8%1.6K-28.1K-3030.0063.8148006520
2008-12-18$22.86$25.0063.9%18.3%92.2%0.0%0.0%0.0%-1.2%24.9K-388.4K-1.4K0.0057.740054520
2008-12-19$23.00$25.0063.7%18.3%89.2%0.0%0.0%0.0%-1.6%26.6K-441.3K-1.5K0.0063.400054520
2008-12-22$22.94$25.0063.3%18.2%87.5%0.0%0.0%0.0%4.0%25.7K-360.6K-1.3K0.0065.250053520
2008-12-23$22.62$25.0063.0%18.1%73.7%0.0%0.0%0.0%-1.8%26.4K-339.1K-1.3K0.0061.380053520
2008-12-24$22.72$25.0064.8%18.6%73.6%0.0%0.0%0.0%6.9%26.0K-314.0K-1.0K0.0047.71005250
2008-12-26$23.00$25.0061.3%17.6%72.2%0.0%0.0%0.0%0.4%28.9K-315.2K-1.1K0.0064.788053520
2008-12-29$22.82$25.0062.8%18.0%72.3%0.0%0.0%0.0%-0.4%28.1K-288.7K-1.1K0.0071.080054320
2008-12-30$23.70$25.0061.6%17.7%61.3%0.0%0.0%0.0%1.0%37.8K-357.6K-1.2K0.0065.477054320
2008-12-31$24.39$0.0064.3%18.4%54.7%0.0%0.0%0.0%-1.7%254-6.4K-330.0097.390090