CME Options History — July 2020

In July 2020, CME traded between $162.81 and $170.23. ATM implied volatility averaged 32.1%, placing in the 19.1% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 3.5% (HV 20d: 28.7%). Max pain ranged from $172.50 to $180.00. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.73.

Notable Days

  • 2020-07-15: Highest Volume — 6,412 contracts
  • 2020-07-09: Largest IV spike — 10.2% change
  • 2020-07-09: Highest IV Rank — 25.0%
  • 2020-07-13: Largest Expected Move — 10.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$166.62$162.81$170.23$169.45$165.31
Max Pain$175.45$172.50$180.00$175.00$172.50
ATM IV32.1%27.6%37.1%34.1%27.6%
Expected Move9.1%7.7%10.4%8.7%7.7%
HV 20d28.7%16.2%39.8%39.0%16.2%
HV 60d35.4%32.6%39.5%39.2%32.6%
IV Rank19.1%13.7%25.0%21.4%13.7%
IV Percentile67.6%56.7%81.0%74.6%56.7%
Term Structure-0.1%-4.3%2.6%0.9%-0.2%
VWIV31.3%25.5%36.5%30.8%26.6%
Skew 25d7.8%4.9%13.4%6.3%6.6%
Skew 10d14.9%-2.7%24.2%-2.7%15.4%
Call IV 25d28.4%24.4%36.0%30.5%24.4%
Put IV 25d36.2%31.0%41.4%36.8%31.0%
Bid-Ask Spread %54.7642.8171.4764.2953.18
Gamma HHI0.080.070.140.070.14
Net GEX-2.5M-6.8M2.2M-2.6M-6.8M
Net DEX129.2M59.6M171.2M131.9M127.4M
Net VEX-1.6M-1.6M-1.5M-1.6M-1.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.730.261.730.260.65
Total Volume3,528.3641,9336,4125,4642,578
Total OI84,324.31878,53290,10679,46489,160

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$169.45$175.0034.1%8.7%39.0%21.4%30.8%6.3%0.9%-2.6M131.9M-1.6M0.2664.29N/AN/A4,3231,14137,37042,094
2020-07-02$165.06$175.0032.7%8.4%39.8%19.8%28.2%8.4%2.0%-3.4M171.2M-1.6M0.8171.47N/AN/A1,6881,36439,80042,311
2020-07-06$165.92$180.0033.5%10.0%36.0%20.7%32.7%7.3%1.7%-3.6M162.8M-1.6M1.7351.85N/AN/A2,2153,82738,79741,796
2020-07-07$165.28$180.0034.6%9.8%36.0%22.0%36.5%7.3%-0.8%-4.5M165.0M-1.5M0.8042.81N/AN/A1,3841,11039,15642,165
2020-07-08$167.56$180.0033.7%9.4%36.7%20.9%31.5%13.4%-4.3%-3.3M142.7M-1.6M0.4652.02N/AN/A1,32061339,55142,844
2020-07-09$165.07$175.0037.1%10.2%36.8%25.0%35.5%4.9%-2.2%-4.8M163.9M-1.5M0.4950.15N/AN/A1,47772440,42542,984
2020-07-10$164.22$175.0035.4%10.0%27.0%22.9%35.7%8.8%0.3%-6.0M171.0M-1.5M0.2856.70N/AN/A3,9491,11841,02043,379
2020-07-13$165.78$175.0036.3%10.4%27.4%24.0%35.3%4.9%2.6%-3.1M138.0M-1.5M0.3652.28N/AN/A3,1111,11341,55442,270
2020-07-14$164.88$175.0034.1%10.0%27.4%21.4%33.0%9.5%0.2%-4.4M152.8M-1.5M0.7259.07N/AN/A1,7041,23143,20542,711
2020-07-15$168.53$175.0034.4%9.4%28.3%21.8%28.7%8.7%-1.3%-1.4M106.6M-1.6M1.0952.17N/AN/A3,0733,33944,19243,448
2020-07-16$167.03$175.0033.4%9.9%27.7%20.6%33.1%9.2%1.4%-2.6M123.5M-1.6M0.7953.20N/AN/A1,8501,45945,07843,683
2020-07-17$166.68$175.0032.1%9.4%27.4%19.0%31.4%10.3%1.2%-962.2K139.5M-1.6M1.0956.64N/AN/A1,2001,30445,80344,303
2020-07-20$168.24$175.0030.9%8.9%27.8%17.6%33.7%8.1%-3.1%-112.8K95.6M-1.5M0.7049.17N/AN/A1,7431,21838,44740,085
2020-07-21$168.31$175.0031.7%9.1%27.8%18.6%30.2%7.9%-0.3%385.1K90.5M-1.6M0.5648.26N/AN/A3,4381,91039,21140,820
2020-07-22$170.23$175.0030.0%8.6%28.0%16.6%28.7%7.3%0.0%2.2M59.6M-1.5M0.4051.97N/AN/A1,90075241,24541,974
2020-07-23$169.10$175.0029.3%8.4%26.3%15.7%29.7%7.3%-0.0%1.2M81.7M-1.6M0.4449.09N/AN/A2,6571,15842,56242,217
2020-07-24$168.44$175.0030.3%8.7%26.3%17.0%31.0%7.6%-0.3%520.9K84.3M-1.6M0.6851.29N/AN/A1,38293443,36542,634
2020-07-27$167.14$175.0029.2%8.4%23.6%15.6%30.1%6.5%-0.3%-189.0K102.6M-1.6M1.0557.90N/AN/A1,2671,32541,60541,931
2020-07-28$165.81$175.0030.0%8.7%23.6%16.5%31.3%6.8%1.7%-1.6M120.8M-1.5M0.6860.83N/AN/A2,0911,42142,19342,899
2020-07-29$164.75$175.0027.7%7.7%23.8%13.8%25.5%6.5%-0.3%-4.2M141.8M-1.5M0.6861.12N/AN/A1,5761,07543,30843,892
2020-07-30$162.81$172.5028.8%8.1%17.7%15.2%29.5%7.4%0.1%-6.1M168.9M-1.5M1.2559.33N/AN/A1,5841,97843,50644,142
2020-07-31$165.31$172.5027.6%7.7%16.2%13.7%26.6%6.6%-0.2%-6.8M127.4M-1.5M0.6553.18N/AN/A1,5591,01944,14845,012