CORN Options History — February 2011

In February 2011, CORN traded between $41.03 and $43.71. ATM implied volatility averaged 30.6%. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 3.5% (HV 20d: 27.2%). Max pain ranged from $40.00 to $42.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 19 of 19 days. Put/call ratio averaged 0.45.

Notable Days

  • 2011-02-09: Highest Volume — 846 contracts
  • 2011-02-10: Largest IV spike — 10.0% change
  • 2011-02-14: Largest Expected Move — 9.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.48$41.03$43.71$41.46$43.71
Max Pain$41.26$40.00$42.00$40.00$42.00
ATM IV30.6%26.3%33.7%29.9%31.3%
Expected Move9.1%7.8%9.7%8.6%9.0%
HV 20d27.2%22.3%36.2%26.5%35.9%
HV 60d26.3%22.9%28.6%28.6%27.1%
Term Structure2.0%0.2%6.0%2.0%2.0%
VWIV31.4%26.8%34.0%28.6%31.6%
Skew 25d0.7%-1.7%3.2%1.3%1.3%
Skew 10d0.5%-13.7%14.8%14.8%1.4%
Call IV 25d31.4%25.8%34.4%28.1%31.6%
Put IV 25d32.1%28.2%34.6%29.4%32.8%
Bid-Ask Spread %37.7328.6243.4940.1928.62
Gamma HHI0.170.140.200.180.18
Net GEX101.0K57.3K136.7K67.9K120.5K
Net DEX-3.8M-5.5M-1.8M-1.8M-4.7M
Net VEX-13.2K-16.4K-7.4K-7.4K-15.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.450.031.110.780.12
Total Volume297.10582846190143
Total OI2,724.0531,6103,2711,6103,070

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-02-01$41.46$40.0029.9%8.6%26.5%0.0%28.6%1.3%2.0%67.9K-1.8M-7.4K0.7840.19N/AN/A107831,009601
2011-02-02$41.66$40.0027.4%7.8%25.6%0.0%26.9%2.0%6.0%69.0K-1.9M-7.8K0.2538.98N/AN/A4931241,063642
2011-02-03$41.23$40.0027.2%7.8%25.8%0.0%26.8%2.3%4.4%89.3K-2.7M-12.1K0.7142.55N/AN/A48341,522737
2011-02-04$42.15$40.0026.3%9.1%25.2%0.0%31.1%-0.2%1.7%97.7K-3.4M-11.8K0.1330.42N/AN/A198251,546742
2011-02-07$41.98$40.0026.7%9.3%24.8%0.0%32.3%-0.5%1.1%117.8K-3.6M-12.3K0.0643.49N/AN/A10061,700743
2011-02-08$41.93$40.0028.3%9.3%24.6%0.0%32.8%-1.7%1.6%136.7K-3.7M-12.5K0.3933.17N/AN/A84331,774736
2011-02-09$43.01$40.0029.4%9.4%25.5%0.0%33.0%-0.3%2.4%135.5K-4.6M-11.9K1.1136.21N/AN/A4014451,769744
2011-02-10$43.30$42.0032.3%9.3%23.9%0.0%32.3%0.6%2.1%133.6K-4.7M-13.9K1.0641.00N/AN/A2372511,967938
2011-02-11$43.64$42.0031.4%9.0%22.9%0.0%32.3%0.9%3.3%112.8K-5.2M-14.0K0.0343.12N/AN/A19452,0711,061
2011-02-14$42.85$42.0033.7%9.7%24.2%0.0%32.0%-0.9%1.4%78.5K-4.5M-13.8K0.3434.73N/AN/A101342,0181,066
2011-02-15$42.27$42.0032.3%9.3%24.7%0.0%32.0%1.5%1.6%68.2K-3.9M-13.8K0.2840.15N/AN/A179502,0881,084
2011-02-16$42.23$42.0031.3%9.0%22.3%0.0%31.6%1.5%2.6%57.3K-3.9M-14.5K0.6939.30N/AN/A80552,1371,134
2011-02-17$43.63$42.0031.4%9.0%23.9%0.0%31.6%1.8%2.0%122.3K-5.5M-13.4K0.1641.71N/AN/A478752,1401,131
2011-02-18$43.50$42.0031.4%9.0%23.9%0.0%30.1%3.2%0.2%121.8K-5.0M-13.8K0.7340.09N/AN/A2551852,0981,155
2011-02-22$41.03$42.0032.3%9.3%32.5%0.0%32.4%-0.3%0.5%75.2K-2.3M-14.7K0.5137.19N/AN/A2171101,776821
2011-02-23$42.44$42.0033.6%9.6%33.9%0.0%33.1%-0.1%0.6%99.0K-3.4M-15.6K0.1937.49N/AN/A338631,902901
2011-02-24$41.70$42.0033.6%9.6%33.9%0.0%34.0%0.2%0.8%96.5K-3.2M-16.4K0.2230.63N/AN/A69152,012909
2011-02-25$43.39$42.0032.6%9.4%36.2%0.0%32.2%0.2%1.9%119.5K-4.7M-15.5K0.8837.80N/AN/A1761542,028922
2011-02-28$43.71$42.0031.3%9.0%35.9%0.0%31.6%1.3%2.0%120.5K-4.7M-15.3K0.1228.62N/AN/A128152,0541,016