CME Options History — July 2014

In July 2014, CME traded between $70.13 and $75.83. ATM implied volatility averaged 20.0%, placing in the 31.1% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 4.2% (HV 20d: 15.8%). Max pain ranged from $70.00 to $77.50. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.90.

Notable Days

  • 2014-07-31: Highest Volume — 5,051 contracts
  • 2014-07-18: Largest IV drop — 11.2% change
  • 2014-07-10: Highest IV Rank — 46.4%
  • 2014-07-18: Largest Expected Move — 6.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$72.76$70.13$75.83$70.99$73.94
Max Pain$75.12$70.00$77.50$77.50$72.50
ATM IV20.0%18.1%21.7%20.0%18.1%
Expected Move6.2%5.7%6.5%6.4%5.7%
HV 20d15.8%13.5%18.7%14.0%18.7%
HV 60d18.8%18.0%21.2%21.2%18.8%
IV Rank31.1%14.1%46.4%30.7%14.1%
IV Percentile33.4%10.3%56.3%32.5%10.3%
Term Structure-0.1%-1.1%1.7%-0.4%0.9%
VWIV23.2%16.4%33.1%33.1%22.6%
Skew 25d2.9%0.3%4.3%2.1%2.2%
Skew 10d6.2%3.2%9.6%5.5%4.0%
Call IV 25d19.0%17.7%22.1%19.6%18.2%
Put IV 25d21.8%20.2%23.4%21.8%20.4%
Bid-Ask Spread %48.3730.8292.2930.8256.65
Gamma HHI0.140.100.200.120.10
Net GEX3.6M-484.2K6.8M98.5K5.6M
Net DEX-39.6M-103.1M14.7M-2.1M-56.8M
Net VEX-786.7K-838.3K-743.1K-838.3K-793.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.900.172.711.921.66
Total Volume2,1246095,0517415,051
Total OI77,920.68270,87681,12579,53979,837

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-07-01$70.99$77.5020.0%6.4%14.0%30.7%33.1%2.1%-0.4%98.5K-2.1M-838.3K1.9230.82N/AN/A25448738,46741,072
2014-07-02$71.06$77.5019.8%6.4%13.5%29.3%0.0%3.6%-0.3%308.9K-1.8M-831.6K1.9236.14N/AN/A36870638,63041,391
2014-07-03$72.36$77.5019.3%6.3%14.2%24.6%22.2%4.3%-0.3%786.5K-30.9M-831.6K2.7139.06N/AN/A5141,39538,92041,474
2014-07-07$72.14$77.5020.4%6.3%14.2%34.3%22.0%2.2%-0.7%2.5M-27.6M-804.3K0.6341.36N/AN/A42226738,18540,154
2014-07-08$71.05$77.5021.3%6.4%15.0%43.0%22.5%2.1%0.3%1.2M-8.8M-808.8K1.2935.91N/AN/A1,0891,40438,44940,226
2014-07-09$71.58$77.5020.9%6.4%14.8%38.9%22.5%3.0%-0.7%496.7K-11.2M-815.1K0.4537.91N/AN/A75934538,99241,429
2014-07-10$70.13$77.5021.7%6.4%16.5%46.4%22.2%0.3%-0.9%-484.2K14.1M-791.9K0.4546.73N/AN/A56225339,38841,614
2014-07-11$70.49$77.5021.4%6.5%16.5%43.2%22.8%3.2%-0.3%2.3M14.7M-782.5K1.0433.57N/AN/A36838239,33741,788
2014-07-14$71.28$77.5020.6%6.4%16.7%36.4%0.0%3.3%0.1%2.4M-13.7M-779.7K0.8033.70N/AN/A66653038,90040,483
2014-07-15$71.28$77.5020.5%6.4%16.5%35.1%23.9%3.2%0.2%2.8M-14.5M-774.4K1.6631.98N/AN/A22938039,26540,376
2014-07-16$71.02$77.5021.3%6.2%15.3%42.8%24.8%2.7%0.3%2.4M-6.0M-764.4K0.8736.19N/AN/A37132439,33540,632
2014-07-17$71.13$77.5021.7%6.4%15.3%46.3%0.0%2.5%-0.8%2.6M-8.7M-743.1K0.5340.20N/AN/A95350639,17540,329
2014-07-18$72.46$77.5019.3%6.5%16.5%24.5%22.6%4.2%1.7%6.1M-37.6M-767.3K0.3234.33N/AN/A3,5151,13939,40940,534
2014-07-21$73.38$0.0019.9%6.2%17.0%29.8%16.4%4.3%-0.2%4.6M-47.1M-756.4K0.2092.29N/AN/A1,60132838,09632,780
2014-07-22$74.57$72.5019.4%5.9%17.8%25.8%23.6%4.0%-0.2%5.5M-75.5M-756.1K0.3572.79N/AN/A3,0781,07039,03233,002
2014-07-23$74.88$70.0019.2%6.1%15.9%23.9%0.0%3.6%-1.1%6.3M-86.5M-778.0K0.4577.82N/AN/A1,54569740,72433,869
2014-07-24$75.36$70.0019.2%5.8%15.8%24.1%24.3%2.2%-0.4%6.8M-103.1M-770.6K0.1768.49N/AN/A2,43842641,53434,061
2014-07-25$75.05$70.0019.2%5.8%15.9%24.1%24.5%2.2%-0.3%6.6M-95.0M-789.9K0.2558.73N/AN/A3,08376142,30234,342
2014-07-28$75.14$70.0019.1%5.8%15.9%23.1%21.1%2.5%0.6%6.1M-82.0M-781.7K0.5952.85N/AN/A71842740,70134,248
2014-07-29$75.50$72.5019.3%5.8%15.8%24.5%23.5%2.0%0.4%6.6M-92.7M-754.8K0.2653.19N/AN/A2,06952841,06634,394
2014-07-30$75.83$72.5018.6%5.9%15.8%18.7%22.4%3.1%0.1%6.7M-99.3M-793.0K1.2953.42N/AN/A2,0602,66041,88534,428
2014-07-31$73.94$72.5018.1%5.7%18.7%14.1%22.6%2.2%0.9%5.6M-56.8M-793.1K1.6656.65N/AN/A1,8993,15243,29036,547