CRS Options History — August 2007

In August 2007, CRS traded between $51.86 and $58.42. ATM implied volatility averaged 44.4%, placing in the 69.3% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded below realized volatility by 11.5% (HV 20d: 55.9%). Max pain ranged from $57.50 to $65.00. Net GEX was positive for 12 of 23 trading days. Term structure was in contango for 9 of 23 days. Put/call ratio averaged 0.92.

Notable Days

  • 2007-08-10: Highest Volume — 16,872 contracts
  • 2007-08-17: Largest IV drop — 19.7% change
  • 2007-08-09: Highest IV Rank — 100.0%
  • 2007-08-16: Largest Expected Move — 14.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$56.00$51.86$58.42$57.66$58.42
Max Pain$59.13$57.50$65.00$65.00$57.50
ATM IV44.4%35.3%55.1%47.8%35.3%
Expected Move12.3%10.1%14.9%13.7%10.1%
HV 20d55.9%41.0%65.7%58.9%41.0%
HV 60d42.5%40.4%44.8%40.5%44.3%
IV Rank69.3%34.4%100.0%91.5%34.4%
IV Percentile89.4%71.3%100.0%99.3%71.3%
Term Structure-1.4%-9.0%4.1%-4.5%4.1%
VWIV42.9%35.2%51.9%48.0%35.2%
Skew 25d4.0%0.2%8.8%2.6%2.1%
Skew 10d7.8%-1.0%18.0%5.7%4.5%
Call IV 25d41.2%33.9%49.0%47.0%34.6%
Put IV 25d45.2%36.7%56.8%49.6%36.7%
Bid-Ask Spread %17.109.2424.4015.3718.89
Gamma HHI0.140.110.180.160.12
Net GEX144.1K-412.5K747.7K-349.0K655.5K
Net DEX1.9M-46.0M49.6M11.2M-46.0M
Net VEX-426.9K-472.8K-380.7K-455.5K-418.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.920.103.760.853.76
Total Volume3,742.26196816,8723,1963,378
Total OI67,60660,00274,31666,83665,682

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-08-01$57.66$65.0047.8%13.7%58.9%91.5%48.0%2.6%-4.5%-349.0K11.2M-455.5K0.8515.37N/AN/A1,7301,46637,69229,144
2007-08-02$57.66$65.0044.4%12.7%58.8%78.0%44.4%1.6%-2.4%-373.6K12.6M-451.7K0.1513.52N/AN/A3,46251038,58629,350
2007-08-03$54.83$62.5045.8%13.1%60.5%83.5%46.1%0.2%-2.4%-210.7K40.0M-425.9K0.2522.51N/AN/A6,0381,50039,00229,510
2007-08-06$54.38$60.0048.3%12.9%60.1%93.4%44.0%5.7%-2.0%-339.2K41.2M-407.8K0.4812.41N/AN/A2,4521,17039,59029,472
2007-08-07$55.52$57.5046.2%12.3%61.2%85.1%42.7%4.5%-1.6%-412.5K24.6M-418.5K0.7113.09N/AN/A1,6881,19240,09428,540
2007-08-08$57.10$57.5048.9%12.5%61.8%95.8%42.8%4.8%-1.8%-394.6K7.1M-448.2K0.4124.40N/AN/A1,59465840,97428,752
2007-08-09$55.15$57.5051.0%12.9%59.6%100.0%44.7%2.5%-2.2%-265.2K24.7M-425.7K1.4720.24N/AN/A7101,04441,36628,680
2007-08-10$56.70$57.5053.6%13.9%61.3%100.0%49.4%2.2%-8.7%-204.5K5.5M-453.6K0.1517.47N/AN/A14,6522,22041,61828,870
2007-08-13$56.63$60.0055.1%13.7%61.3%100.0%47.9%2.4%-6.7%-237.8K-1.4M-472.8K1.1115.74N/AN/A81490644,31429,722
2007-08-14$55.20$60.0051.6%13.8%61.3%88.6%47.8%1.4%-6.6%-234.9K20.1M-444.6K0.8717.85N/AN/A1,9361,69244,29829,944
2007-08-15$53.10$60.0052.8%14.1%60.9%92.5%48.6%3.2%-7.2%-25.8K41.2M-406.6K1.4817.08N/AN/A1,1841,75844,61829,698
2007-08-16$51.86$60.0052.0%14.9%59.1%89.7%51.9%7.8%-9.0%26.9K49.6M-380.7K1.1319.43N/AN/A2,1782,46044,91829,012
2007-08-17$54.16$60.0041.8%12.0%63.0%55.8%41.8%8.4%-1.8%426.0K31.1M-389.9K0.6715.51N/AN/A2,6221,76445,06828,456
2007-08-20$54.00$60.0041.4%11.9%63.0%54.8%43.1%8.8%-0.3%501.7K8.6M-384.2K0.989.24N/AN/A1,3221,29236,84423,158
2007-08-21$55.38$57.5042.8%12.3%64.3%59.4%42.9%5.9%0.8%569.1K-13.2M-429.8K0.1014.90N/AN/A5,45453237,60822,662
2007-08-22$56.75$57.5039.2%11.2%65.7%47.5%40.4%6.1%2.0%635.6K-26.7M-447.1K0.4616.93N/AN/A66430440,48222,764
2007-08-23$56.09$57.5039.8%11.4%43.8%49.5%38.6%6.7%1.8%576.6K-18.7M-415.8K0.8015.04N/AN/A1,3661,09238,95222,944
2007-08-24$57.77$57.5035.6%10.2%43.5%35.5%37.1%5.2%3.7%490.4K-34.9M-437.6K2.8018.11N/AN/A6081,70439,35823,486
2007-08-27$57.60$57.5036.0%10.3%43.4%36.9%36.8%2.7%3.7%445.0K-35.6M-430.1K0.1117.46N/AN/A4,55250839,54024,432
2007-08-28$56.02$57.5038.6%11.1%43.3%45.5%39.9%2.0%3.1%747.7K-19.0M-417.7K1.3919.76N/AN/A7581,05040,00424,768
2007-08-29$58.34$57.5036.8%10.5%44.7%39.2%36.4%3.1%3.2%586.7K-40.9M-428.6K0.5219.59N/AN/A69836640,11025,310
2007-08-30$57.67$57.5036.4%10.4%44.9%38.2%36.8%2.3%3.6%701.7K-38.2M-428.2K0.5318.69N/AN/A67035440,37625,170
2007-08-31$58.42$57.5035.3%10.1%41.0%34.4%35.2%2.1%4.1%655.5K-46.0M-418.3K3.7618.89N/AN/A7102,66840,43425,248