CME Options History — June 2008

In June 2008, CME traded between $75.60 and $88.36. ATM implied volatility averaged 45.2%, placing in the 43.1% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded below realized volatility by 1.7% (HV 20d: 46.9%). Max pain ranged from $80.00 to $98.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.63.

Notable Days

  • 2008-06-17: Highest Volume — 137,125 contracts
  • 2008-06-26: Largest IV spike — 10.2% change
  • 2008-06-04: Highest IV Rank — 54.8%
  • 2008-06-04: Largest Expected Move — 14.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$81.99$75.60$88.36$82.42$76.64
Max Pain$83.90$80.00$98.00$98.00$82.00
ATM IV45.2%38.7%51.1%44.1%48.7%
Expected Move12.8%11.1%14.6%12.6%14.0%
HV 20d46.9%31.8%54.4%31.8%52.7%
HV 60d45.6%41.6%50.7%50.7%43.2%
IV Rank43.1%29.6%54.8%43.2%45.9%
IV Percentile89.4%73.4%98.4%91.7%95.6%
Term Structure0.6%-5.8%5.8%-2.6%2.6%
VWIV44.7%39.2%51.9%44.3%48.3%
Skew 25d3.7%-0.3%5.9%2.3%3.5%
Skew 10d6.2%-2.4%11.6%3.8%7.8%
Call IV 25d43.3%37.7%51.7%43.5%46.8%
Put IV 25d46.9%41.3%51.4%45.9%50.3%
Bid-Ask Spread %22.457.3534.5413.6334.47
Gamma HHI0.090.050.400.060.06
Net GEX8.1M-3.4M28.1M-3.4M2.5M
Net DEX169.7M-374.0M674.4M547.5M228.7M
Net VEX-5.0M-5.8M-4.0M-4.3M-4.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.630.271.230.620.51
Total Volume53,827.61920,175137,12588,01531,955
Total OI480,955346,860567,980436,285402,175

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-06-02$82.42$98.0044.1%12.6%31.8%43.2%44.3%2.3%-2.6%-3.4M547.5M-4.3M0.6213.63N/AN/A54,28033,735263,760172,525
2008-06-03$80.06$96.0047.3%13.6%32.3%48.5%47.9%2.0%-4.0%-2.0M583.8M-4.3M0.4916.31N/AN/A54,33026,885284,215178,725
2008-06-04$75.60$92.0051.1%14.6%36.4%54.8%51.9%-0.3%-5.8%-1.2M674.4M-4.0M0.6412.89N/AN/A51,53032,820306,240183,310
2008-06-05$80.51$90.0046.5%13.3%44.2%47.1%47.3%3.8%-3.3%3.9M471.4M-4.7M0.457.35N/AN/A65,28529,245324,305189,545
2008-06-06$77.52$82.0046.7%12.8%45.4%47.4%44.5%3.4%0.5%2.5M548.1M-4.6M0.7226.73N/AN/A26,07018,865339,035197,145
2008-06-09$77.87$82.0050.9%13.4%45.7%54.4%46.3%4.0%-0.7%2.5M426.0M-4.6M1.2323.97N/AN/A21,72026,785342,005183,010
2008-06-10$78.05$80.0048.3%13.2%45.5%50.2%45.9%3.6%-0.3%2.1M405.1M-4.6M0.7225.13N/AN/A17,99013,025345,615183,775
2008-06-11$77.20$80.0049.3%13.4%45.4%51.7%47.2%4.3%-0.4%1.6M394.9M-4.6M0.9223.71N/AN/A12,50011,490347,920180,095
2008-06-12$79.32$80.0047.9%13.7%44.2%49.5%47.5%4.7%-0.8%3.8M310.6M-4.8M0.3621.40N/AN/A36,48013,225349,565180,515
2008-06-13$82.98$80.0044.5%12.7%48.2%41.9%44.3%5.4%1.5%12.7M73.8M-5.2M0.4220.67N/AN/A30,43012,720358,835179,945
2008-06-16$83.88$80.0044.3%12.7%48.3%41.5%44.4%5.2%0.9%13.9M21.7M-5.2M0.7323.46N/AN/A28,61020,845358,430180,000
2008-06-17$88.36$80.0042.9%12.3%52.2%39.2%43.2%3.9%0.8%24.7M-374.0M-5.8M0.4715.94N/AN/A93,49543,630364,320183,460
2008-06-18$88.33$80.0044.1%12.6%52.2%41.2%43.9%4.0%-0.3%22.6M-347.8M-5.8M0.6915.94N/AN/A28,65519,755369,820193,000
2008-06-19$88.21$80.0040.8%11.7%50.2%35.6%41.0%3.6%2.9%18.4M-321.6M-5.7M0.4818.90N/AN/A35,74017,210370,015196,255
2008-06-20$85.85$82.0041.7%11.9%50.9%37.1%41.9%3.0%1.9%28.1M-115.0M-5.5M0.8721.99N/AN/A30,98026,865371,195196,785
2008-06-23$87.39$82.0041.1%11.8%51.3%34.7%41.3%3.9%4.3%9.1M-119.5M-5.5M0.2722.45N/AN/A24,6556,685209,620137,240
2008-06-24$86.75$84.0041.6%11.9%51.3%34.7%41.9%4.5%3.7%9.7M-96.8M-5.6M0.8126.28N/AN/A11,1559,020220,000140,630
2008-06-25$85.51$84.0038.7%11.1%49.8%29.6%39.2%3.6%3.9%9.1M-43.6M-5.4M0.4634.54N/AN/A15,8307,250223,830142,135
2008-06-26$81.39$84.0042.7%12.2%52.6%36.6%42.8%3.0%2.6%5.6M92.9M-5.1M0.8834.35N/AN/A16,75014,715230,640144,890
2008-06-27$77.90$84.0045.4%13.0%54.4%41.3%44.7%5.9%5.8%3.0M202.5M-4.7M0.5931.36N/AN/A35,92021,250230,640144,890
2008-06-30$76.64$82.0048.7%14.0%52.7%45.9%48.3%3.5%2.6%2.5M228.7M-4.8M0.5134.47N/AN/A21,14510,810247,395154,780