CME Options History — March 2015

In March 2015, CME traded between $94.27 and $100.06. ATM implied volatility averaged 18.6%, placing in the 31.2% IV rank vs the trailing year. The 30-day expected move averaged 5.3%. IV traded above realized volatility by 0.9% (HV 20d: 17.7%). Max pain ranged from $87.50 to $97.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.63.

Notable Days

  • 2015-03-05: Highest Volume — 31,818 contracts
  • 2015-03-10: Largest IV spike — 7.6% change
  • 2015-03-31: Highest IV Rank — 47.6%
  • 2015-03-26: Largest Expected Move — 5.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$96.97$94.27$100.06$97.10$94.83
Max Pain$94.11$87.50$97.50$87.50$95.00
ATM IV18.6%16.9%21.0%17.3%21.0%
Expected Move5.3%4.9%5.5%5.0%5.4%
HV 20d17.7%12.7%21.8%18.3%21.6%
HV 60d20.7%20.1%21.5%20.6%21.0%
IV Rank31.2%20.1%47.6%22.8%47.6%
IV Percentile40.0%12.7%71.4%17.1%71.4%
Term Structure0.4%-0.7%2.2%0.2%-0.5%
VWIV19.0%17.7%20.8%17.7%20.7%
Skew 25d2.6%1.8%3.3%3.0%3.2%
Skew 10d5.8%3.6%8.0%5.2%7.6%
Call IV 25d18.2%16.6%20.8%16.6%20.8%
Put IV 25d20.7%18.7%24.1%19.5%24.1%
Bid-Ask Spread %32.0425.3048.0035.6234.44
Gamma HHI0.130.090.380.150.09
Net GEX12.0M5.4M25.4M13.0M6.0M
Net DEX-146.9M-221.7M-63.2M-216.0M-70.5M
Net VEX-780.0K-818.1K-739.3K-739.3K-760.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.630.141.821.110.69
Total Volume7,338.5911,67431,8187,4449,852
Total OI62,148.31854,67168,77863,00658,651

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-03-02$97.10$87.5017.3%5.0%18.3%22.8%17.7%3.0%0.2%13.0M-216.0M-739.3K1.1135.62N/AN/A3,5343,91041,99221,014
2015-03-03$97.05$87.5017.2%4.9%17.6%22.1%17.9%2.7%-0.7%13.8M-221.7M-746.7K1.0930.52N/AN/A3,8014,15142,91921,237
2015-03-04$96.38$87.5017.7%5.1%18.1%25.5%17.7%2.6%-0.1%13.6M-209.2M-788.0K0.3628.11N/AN/A11,2054,04643,61821,939
2015-03-05$96.84$95.0016.9%4.9%17.0%20.1%18.1%1.8%0.1%15.9M-215.6M-758.8K0.1428.14N/AN/A27,8783,94044,43322,402
2015-03-06$95.34$95.0018.2%5.4%17.4%28.8%18.7%2.8%-0.5%10.2M-118.4M-773.8K0.4425.89N/AN/A10,0964,44437,91422,652
2015-03-09$96.57$95.0017.8%5.0%12.7%26.2%18.8%2.5%-0.3%12.4M-128.1M-774.2K0.8026.30N/AN/A1,22098037,18323,052
2015-03-10$95.30$95.0019.2%5.5%13.6%35.3%19.2%2.4%0.1%10.2M-106.9M-775.3K1.8229.75N/AN/A5941,08037,48523,368
2015-03-11$96.29$95.0018.2%5.2%13.9%28.7%18.5%2.6%0.1%12.0M-120.3M-774.0K0.6125.40N/AN/A1,40486337,76623,833
2015-03-12$97.33$95.0018.1%5.2%14.3%28.1%18.2%2.2%-0.1%15.8M-154.2M-786.4K0.7527.98N/AN/A2,8912,16938,71424,507
2015-03-13$96.83$95.0018.3%5.2%14.4%29.1%18.8%3.1%-0.4%14.2M-139.1M-785.5K0.2425.30N/AN/A1,81744338,99826,022
2015-03-16$100.06$95.0019.1%5.5%17.2%34.4%19.8%3.3%-0.6%14.6M-211.8M-751.6K0.2230.90N/AN/A11,6672,53237,93625,278
2015-03-17$99.75$95.0018.9%5.4%17.3%33.4%19.0%2.9%0.2%14.7M-201.6M-796.2K0.4234.41N/AN/A2,8971,21539,63426,069
2015-03-18$98.99$95.0018.6%5.3%17.6%31.1%18.9%1.8%0.8%13.2M-183.0M-813.3K0.5033.05N/AN/A1,94597039,58426,956
2015-03-19$99.67$97.5018.6%5.3%17.6%31.6%19.4%2.4%0.6%16.1M-198.1M-818.1K0.2636.43N/AN/A2,17155940,51427,636
2015-03-20$99.75$95.0017.8%5.1%17.6%26.3%18.1%2.1%0.2%25.4M-199.8M-817.3K1.0836.44N/AN/A1,0751,16640,87027,908
2015-03-23$98.75$95.0018.1%5.2%18.1%28.2%18.8%2.8%1.9%10.8M-147.2M-806.5K0.5148.00N/AN/A1,72487335,66519,006
2015-03-24$97.34$95.0018.1%5.2%18.4%28.3%19.0%2.1%2.2%9.9M-116.9M-810.9K0.7235.41N/AN/A1,10679636,77419,752
2015-03-25$94.27$95.5019.3%5.5%21.7%36.0%20.5%2.0%1.7%5.7M-63.4M-762.7K0.4731.57N/AN/A3,3371,56937,15120,404
2015-03-26$94.85$95.0019.7%5.5%21.8%38.7%20.8%2.8%2.1%5.8M-70.5M-785.4K0.5635.05N/AN/A8,0334,48537,59921,409
2015-03-27$94.66$95.0019.8%5.5%21.8%39.3%19.9%2.4%2.0%5.4M-63.2M-772.6K0.4133.29N/AN/A1,42558538,03821,504
2015-03-30$95.28$95.0020.6%5.4%21.5%45.0%20.3%2.9%-0.4%6.1M-77.4M-762.6K0.6032.92N/AN/A6,8654,13637,13920,738
2015-03-31$94.83$95.0021.0%5.4%21.6%47.6%20.7%3.2%-0.5%6.0M-70.5M-760.2K0.6934.44N/AN/A5,8294,02337,79520,856