CNP Options History — February 2007

In February 2007, CNP traded between $17.50 and $18.37. ATM implied volatility averaged 20.9%. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 6.1% (HV 20d: 14.8%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 0.20.

Notable Days

  • 2007-02-13: Highest Volume — 9,360 contracts
  • 2007-02-27: Largest IV spike — 65.0% change
  • 2007-02-01: Largest Expected Move — 6.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.01$17.50$18.37$17.50$17.83
Max Pain$16.18$15.00$17.50$15.00$17.50
ATM IV20.9%11.9%27.9%23.5%20.9%
Expected Move5.7%3.4%6.7%6.7%6.0%
HV 20d14.8%13.0%17.1%15.2%17.1%
Term Structure-1.7%-5.0%4.5%-5.0%-1.8%
VWIV20.2%11.8%31.9%31.9%20.9%
Skew 25d1.8%-6.1%7.1%-0.0%0.6%
Skew 10d6.3%-4.7%20.8%-0.0%6.2%
Call IV 25d19.1%15.2%26.0%23.5%23.4%
Put IV 25d20.9%13.9%24.0%23.5%24.0%
Bid-Ask Spread %24.208.5081.4718.5525.03
Gamma HHI0.830.670.940.930.73
Net GEX667.2K342.4K1.1M767.4K407.0K
Net DEX-12.5M-18.6M-6.8M-11.7M-6.8M
Net VEX-23.6K-29.3K-18.8K-29.3K-21.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.200.002.180.000.49
Total Volume845.63269,360387223
Total OI11,440.2117,00015,11314,2317,375

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-02-01$17.50$15.0023.5%6.7%15.2%0.0%31.9%-0.0%-5.0%767.4K-11.7M-29.3K0.0018.55N/AN/A387012,3481,883
2007-02-02$17.50$15.0021.6%5.3%15.2%0.0%21.4%1.9%-1.2%841.8K-12.0M-29.0K0.0011.39N/AN/A166012,4601,883
2007-02-05$17.77$15.0025.6%5.6%14.3%0.0%19.8%2.4%-1.9%880.2K-14.2M-26.4K0.0515.23N/AN/A4812512,3261,383
2007-02-06$18.00$15.0027.9%5.6%13.9%0.0%20.1%-4.4%-1.9%799.7K-16.0M-25.3K0.0228.73N/AN/A1,2452512,4081,401
2007-02-07$17.80$15.0023.0%5.4%14.9%0.0%18.8%1.4%-1.0%1.1M-15.4M-26.8K0.0016.16N/AN/A225113,1551,426
2007-02-08$18.06$15.0020.6%5.9%15.5%0.0%21.1%3.9%-2.0%847.8K-16.8M-25.9K2.1814.64N/AN/A22950013,1501,427
2007-02-09$17.95$15.0019.2%5.5%15.8%0.0%19.3%2.8%-1.7%915.0K-15.8M-26.2K0.0018.63N/AN/A204013,1971,916
2007-02-12$17.94$15.0019.7%5.6%15.8%0.0%19.7%4.0%-1.4%1.1M-16.9M-24.2K0.2116.81N/AN/A58112413,2311,416
2007-02-13$18.19$15.0019.6%5.6%16.2%0.0%19.6%7.1%-1.4%933.3K-18.6M-23.7K0.0015.03N/AN/A9,357313,5691,437
2007-02-14$18.17$15.0021.7%6.2%15.4%0.0%21.7%5.7%-3.2%900.7K-14.7M-22.5K0.0781.47N/AN/A7455010,9411,437
2007-02-15$18.18$17.5019.9%5.7%14.2%0.0%19.9%-6.1%-1.4%468.3K-15.7M-21.8K0.0929.66N/AN/A1261111,0361,487
2007-02-16$18.16$17.5020.5%5.9%14.1%0.0%20.5%3.0%-1.5%534.5K-15.4M-22.1K0.0322.02N/AN/A255810,9901,488
2007-02-20$18.28$17.5019.6%5.6%14.0%0.0%19.3%3.4%-0.8%365.0K-8.0M-21.3K0.0023.99N/AN/A11106,654393
2007-02-21$18.25$17.5021.9%6.3%14.0%0.0%19.1%4.2%-4.1%363.9K-7.9M-21.1K0.0626.19N/AN/A167106,623393
2007-02-22$18.24$17.5019.7%5.7%13.1%0.0%19.5%1.4%-2.5%374.5K-7.9M-20.3K0.5127.13N/AN/A127656,597403
2007-02-23$18.23$17.5021.5%6.2%13.0%0.0%20.8%2.5%-3.7%372.4K-7.9M-20.4K0.0014.56N/AN/A606,676443
2007-02-26$18.37$17.5011.9%3.4%13.2%0.0%11.8%-1.3%4.5%342.4K-8.5M-18.8K0.088.50N/AN/A359306,673443
2007-02-27$17.85$17.5019.7%5.6%17.1%0.0%17.9%1.9%-0.0%394.9K-7.0M-20.8K0.0046.01N/AN/A22106,865431
2007-02-28$17.83$17.5020.9%6.0%17.1%0.0%20.9%0.6%-1.8%407.0K-6.8M-21.7K0.4925.03N/AN/A150736,944431