CME Options History — September 2019

In September 2019, CME traded between $202.28 and $223.38. ATM implied volatility averaged 21.2%, placing in the 36.8% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded below realized volatility by 5.4% (HV 20d: 26.6%). Max pain ranged from $195.00 to $220.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 0.87.

Notable Days

  • 2019-09-06: Highest Volume — 23,675 contracts
  • 2019-09-09: Largest IV spike — 13.1% change
  • 2019-09-30: Highest IV Rank — 53.7%
  • 2019-09-10: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$212.84$202.28$223.38$217.78$210.96
Max Pain$210.75$195.00$220.00$195.00$210.00
ATM IV21.2%18.7%24.0%21.5%24.0%
Expected Move6.0%5.6%6.3%6.2%6.3%
HV 20d26.6%19.9%29.6%21.2%29.0%
HV 60d22.5%19.4%24.4%19.7%23.3%
IV Rank36.8%21.4%53.7%42.8%53.7%
IV Percentile72.5%34.9%95.6%79.4%95.6%
Term Structure0.4%-1.1%2.0%-0.2%-0.5%
VWIV21.9%20.1%24.3%24.3%22.5%
Skew 25d3.2%2.5%3.9%3.1%3.9%
Skew 10d6.3%5.2%8.0%6.8%8.0%
Call IV 25d20.1%17.9%23.0%20.2%23.0%
Put IV 25d23.3%20.4%27.0%23.3%27.0%
Bid-Ask Spread %52.7634.0167.5041.2247.14
Gamma HHI0.100.080.140.110.09
Net GEX5.0M-8.3M26.2M19.7M-285.4K
Net DEX-157.3M-441.2M43.9M-338.5M-91.4M
Net VEX-1.2M-1.3M-1.2M-1.2M-1.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.870.284.550.661.29
Total Volume4,402.751,10223,6754,2301,264
Total OI71,473.6560,72578,96271,16962,046

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-09-03$217.78$195.0021.5%6.2%21.2%42.8%24.3%3.1%-0.2%19.7M-338.5M-1.2M0.6641.22N/AN/A2,5541,67639,98931,180
2019-09-04$221.13$200.0020.3%5.7%20.0%31.3%20.4%3.1%0.2%25.6M-399.1M-1.2M0.3340.96N/AN/A2,97797041,19432,509
2019-09-05$221.53$220.0019.3%5.7%19.9%25.4%21.3%2.9%0.1%25.9M-405.3M-1.2M0.6166.10N/AN/A1,60098442,01533,117
2019-09-06$223.38$220.0018.7%5.6%19.9%21.4%23.0%2.5%0.8%26.2M-441.2M-1.3M0.3359.18N/AN/A17,8465,82942,24233,350
2019-09-09$215.34$220.0021.1%5.9%22.6%36.7%22.4%3.1%-0.7%5.1M-147.1M-1.3M0.5863.18N/AN/A3,2001,86733,70035,793
2019-09-10$205.34$220.0023.2%6.3%27.6%49.9%22.5%3.4%-1.1%-4.7M-13.0M-1.3M0.7955.04N/AN/A4,9673,90435,10436,632
2019-09-11$202.28$210.0022.1%6.3%27.9%42.6%22.1%3.3%-0.2%-8.3M43.9M-1.2M0.7858.70N/AN/A3,7332,90436,03237,942
2019-09-12$205.10$210.0020.6%5.7%27.7%33.6%20.8%3.0%-0.8%-2.4M-9.0M-1.2M0.4058.07N/AN/A2,6881,07138,21038,346
2019-09-13$205.99$210.0020.0%5.6%26.9%29.9%20.1%3.3%-1.0%-3.8M-36.1M-1.2M0.9755.31N/AN/A1,2911,25840,00838,954
2019-09-16$207.16$210.0020.7%5.9%27.0%34.1%20.6%3.3%0.4%-3.3M-46.6M-1.2M0.2858.67N/AN/A1,48341036,62939,076
2019-09-17$214.01$210.0021.7%6.2%29.0%39.9%21.2%3.5%-0.7%7.0M-169.5M-1.2M0.4253.96N/AN/A3,7811,60336,90339,277
2019-09-18$216.03$210.0020.1%5.8%28.8%30.0%21.5%2.9%2.0%10.1M-204.5M-1.3M0.5966.94N/AN/A1,08064137,78639,693
2019-09-19$212.04$210.0021.3%6.1%29.5%37.8%21.2%2.9%0.6%2.4M-125.4M-1.3M0.4967.50N/AN/A1,15956837,86439,966
2019-09-20$210.71$210.0021.2%6.1%29.6%36.8%21.4%3.0%0.3%1.5M-108.4M-1.3M0.8266.96N/AN/A1,2801,05538,07940,078
2019-09-23$212.57$210.0020.6%5.9%29.5%33.3%22.2%2.7%1.7%-1.2M-116.7M-1.2M1.0843.12N/AN/A52957330,65730,068
2019-09-24$212.56$210.0021.4%6.2%29.2%37.1%22.6%3.4%1.8%-461.9K-114.5M-1.2M1.3734.01N/AN/A1,1731,60331,37931,074
2019-09-25$213.33$210.0021.5%6.2%28.6%37.7%21.6%3.2%1.6%-2.4M-123.8M-1.2M0.6541.72N/AN/A78751331,66032,098
2019-09-26$215.64$210.0021.7%6.2%28.6%39.0%22.3%3.4%1.9%1.6M-167.0M-1.2M0.4938.27N/AN/A1,51173732,10932,414
2019-09-27$213.96$210.0022.4%6.2%28.7%42.9%23.4%3.6%1.4%1.5M-133.1M-1.2M4.5539.25N/AN/A8994,08731,91832,382
2019-09-30$210.96$210.0024.0%6.3%29.0%53.7%22.5%3.9%-0.5%-285.4K-91.4M-1.3M1.2947.14N/AN/A55171330,49131,555