CME Options History — October 2007

In October 2007, CME traded between $120.59 and $134.43. ATM implied volatility averaged 29.1%, placing in the 36.7% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded above realized volatility by 0.4% (HV 20d: 28.7%). Max pain ranged from $114.00 to $126.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 10 of 23 days. Put/call ratio averaged 0.64.

Notable Days

  • 2007-10-24: Highest Volume — 171,100 contracts
  • 2007-10-11: Largest IV spike — 18.7% change
  • 2007-10-19: Highest IV Rank — 53.9%
  • 2007-10-19: Largest Expected Move — 9.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$126.20$120.59$134.43$121.66$133.25
Max Pain$119.22$114.00$126.00$114.00$126.00
ATM IV29.1%23.5%34.4%25.7%29.8%
Expected Move8.5%7.4%9.9%7.4%8.5%
HV 20d28.7%24.8%30.6%30.0%25.5%
HV 60d30.9%29.6%31.6%31.4%29.9%
IV Rank36.7%18.1%53.9%25.3%38.7%
IV Percentile66.4%25.7%96.0%38.0%74.2%
Term Structure-0.7%-3.6%4.0%2.7%0.4%
VWIV30.2%26.1%34.8%26.1%30.5%
Skew 25d3.0%-1.4%5.9%2.3%-1.4%
Skew 10d6.2%-2.9%10.9%4.0%-2.9%
Call IV 25d28.5%24.7%32.7%24.8%31.3%
Put IV 25d31.5%27.1%36.3%27.1%30.0%
Bid-Ask Spread %16.428.4433.9117.3925.88
Gamma HHI0.110.090.140.100.09
Net GEX72.5M51.3M86.0M73.4M79.4M
Net DEX-2.54B-3.20B-1.82B-2.23B-3.01B
Net VEX-9.9M-10.7M-9.2M-9.4M-10.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.640.341.000.470.41
Total Volume68,006.95728,125171,100113,18552,850
Total OI665,021.739556,600744,370604,225692,150

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-10-01$121.66$114.0025.7%7.4%30.0%25.3%26.1%2.3%2.7%73.4M-2.23B-9.4M0.4717.39N/AN/A77,06036,125358,445245,780
2007-10-02$120.59$114.0026.1%7.5%30.0%26.7%26.2%2.5%3.2%67.1M-2.00B-9.7M0.7128.42N/AN/A39,06027,865366,000254,160
2007-10-03$122.11$114.0026.0%7.5%30.1%26.4%26.7%1.6%3.4%71.6M-2.23B-9.7M0.7223.05N/AN/A39,88528,575372,635259,795
2007-10-04$120.97$114.0026.2%7.5%29.8%26.8%26.5%2.2%4.0%67.9M-2.04B-9.8M0.9714.53N/AN/A18,64518,175379,060266,380
2007-10-05$125.83$118.0023.5%7.9%30.6%18.1%29.1%4.8%-2.2%86.0M-2.77B-9.2M0.648.44N/AN/A67,54043,475382,860271,305
2007-10-08$125.00$118.0027.2%8.7%30.4%30.3%30.7%5.9%-3.0%78.5M-2.66B-9.8M0.789.01N/AN/A32,63025,440393,335284,920
2007-10-09$126.16$118.0026.3%8.5%30.3%27.3%30.4%5.5%-2.6%82.6M-2.85B-9.7M0.5410.03N/AN/A31,30016,870397,080289,105
2007-10-10$125.20$118.0026.5%8.5%30.2%27.8%29.9%4.1%-2.8%80.7M-2.70B-9.7M0.629.32N/AN/A26,13016,075400,990293,910
2007-10-11$124.50$118.0031.4%9.0%30.4%44.1%31.3%4.5%-2.6%75.6M-2.51B-9.8M0.7010.25N/AN/A48,19033,580402,195294,720
2007-10-12$125.90$118.0031.1%8.9%30.2%43.0%31.0%4.9%-3.5%83.9M-2.72B-9.8M0.529.95N/AN/A39,31020,570401,245298,305
2007-10-15$124.54$118.0033.8%9.7%29.8%52.1%33.9%4.8%-3.6%73.0M-2.48B-9.9M0.659.43N/AN/A23,87015,595413,615303,065
2007-10-16$124.05$118.0031.4%9.0%29.4%44.3%31.6%4.3%-2.3%70.0M-2.45B-9.8M0.9511.37N/AN/A27,45025,950416,960304,085
2007-10-17$124.27$120.0031.3%9.0%29.4%43.8%31.7%4.3%-2.0%71.5M-2.49B-10.0M0.6613.06N/AN/A33,72522,315425,895310,620
2007-10-18$124.59$120.0032.0%9.2%28.1%46.0%32.8%3.8%-2.2%78.3M-2.61B-10.0M0.5613.18N/AN/A32,45518,270429,660311,275
2007-10-19$122.73$120.0034.4%9.9%29.1%53.9%34.8%3.0%-2.3%54.3M-2.29B-10.0M0.8419.77N/AN/A28,61024,110432,390311,980
2007-10-22$123.74$120.0032.9%9.4%28.7%49.2%33.8%4.1%-2.5%51.3M-1.82B-9.9M1.0012.46N/AN/A14,08014,045339,210217,390
2007-10-23$126.92$120.0030.5%8.7%28.9%41.1%30.4%3.9%-1.3%60.4M-2.20B-9.8M0.3420.72N/AN/A45,99515,605344,110222,555
2007-10-24$130.00$120.0028.9%8.3%24.8%35.8%29.3%3.6%0.6%68.8M-2.63B-9.9M0.4622.47N/AN/A117,39053,710359,225226,755
2007-10-25$134.43$122.0029.5%8.4%26.6%37.8%30.0%1.4%0.3%75.4M-3.20B-10.0M0.4733.91N/AN/A113,36552,735381,735243,090
2007-10-26$132.60$124.0028.4%8.2%27.4%34.4%29.2%-0.4%1.1%71.4M-2.92B-10.6M0.7317.21N/AN/A38,99028,270395,630262,560
2007-10-29$132.40$124.0028.5%8.2%25.3%34.6%29.3%0.0%1.0%72.8M-2.79B-10.5M0.4915.98N/AN/A29,25014,340396,135262,685
2007-10-30$131.22$126.0029.2%8.4%25.3%36.9%29.9%-0.5%0.2%73.8M-2.75B-10.7M0.4021.81N/AN/A24,7659,920408,285272,215
2007-10-31$133.25$126.0029.8%8.5%25.5%38.7%30.5%-1.4%0.4%79.4M-3.01B-10.7M0.4125.88N/AN/A37,49515,355418,160273,990