CRS Options History — November 2007

In November 2007, CRS traded between $67.39 and $75.50. ATM implied volatility averaged 44.4%, placing in the 64.6% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded below realized volatility by 7.8% (HV 20d: 52.2%). Max pain ranged from $45.00 to $67.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.61.

Notable Days

  • 2007-11-26: Highest Volume — 15,436 contracts
  • 2007-11-12: Largest IV spike — 18.4% change
  • 2007-11-12: Highest IV Rank — 83.7%
  • 2007-11-12: Largest Expected Move — 14.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$70.04$67.39$75.50$67.64$75.45
Max Pain$54.52$45.00$67.50$67.50$57.50
ATM IV44.4%40.6%50.2%44.9%41.0%
Expected Move12.9%11.6%14.0%12.9%11.8%
HV 20d52.2%43.6%57.1%48.7%43.6%
HV 60d40.2%39.4%41.4%40.2%41.0%
IV Rank64.6%52.0%83.7%66.2%53.4%
IV Percentile84.9%73.7%96.8%87.6%74.3%
Term Structure0.4%-1.3%2.1%-0.8%1.2%
VWIV44.8%34.6%50.0%45.1%40.8%
Skew 25d3.4%-1.1%6.0%-1.1%3.8%
Skew 10d6.4%-1.8%11.2%-1.8%5.8%
Call IV 25d43.5%38.5%47.2%45.9%39.3%
Put IV 25d46.9%42.6%50.6%44.8%43.2%
Bid-Ask Spread %27.6113.5348.4225.5021.91
Gamma HHI0.090.080.170.080.11
Net GEX1.3M369.1K1.9M1.2M1.9M
Net DEX-115.1M-148.6M-55.2M-101.1M-147.7M
Net VEX-286.3K-346.8K-65.3K-342.3K-275.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.610.011.340.720.65
Total Volume1,966.52415215,4362,8464,711
Total OI43,891.61913,73350,06647,85841,730

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-11-01$67.64$67.5044.9%12.9%48.7%66.2%45.1%-1.1%-0.8%1.2M-101.1M-342.3K0.7225.50N/AN/A1,6521,19431,38616,472
2007-11-02$68.82$67.5044.5%12.7%48.2%64.7%44.9%1.1%0.5%1.2M-110.9M-346.8K0.2719.51N/AN/A1,30035231,61816,730
2007-11-05$68.00$52.5045.1%13.1%48.5%67.0%45.0%3.0%0.7%1.2M-107.5M-331.9K0.3216.59N/AN/A72223032,15816,674
2007-11-06$71.92$52.5041.3%12.2%51.3%54.1%42.3%3.3%1.3%1.6M-142.3M-311.0K0.7213.53N/AN/A1,5561,11631,97216,778
2007-11-07$70.43$52.5044.6%13.0%51.5%65.3%46.1%2.7%1.1%1.3M-127.0M-321.3K0.6729.99N/AN/A76250831,63817,364
2007-11-08$71.40$52.5044.1%13.4%50.8%63.6%47.3%3.3%0.2%1.4M-134.7M-320.0K0.3327.85N/AN/A97432231,77017,310
2007-11-09$70.63$52.5042.4%13.6%50.3%57.8%47.5%3.1%-0.4%1.4M-128.4M-322.3K0.6925.82N/AN/A38226432,04417,404
2007-11-12$67.39$52.5050.2%14.0%53.1%83.7%49.3%3.3%-0.8%1.0M-100.6M-308.3K0.7832.27N/AN/A77660232,02417,394
2007-11-13$69.03$52.5044.9%13.6%53.6%66.4%50.0%5.7%0.6%1.2M-112.2M-302.2K1.3435.10N/AN/A47062832,24017,468
2007-11-14$70.90$52.5042.1%13.3%54.2%56.9%46.3%3.0%0.6%1.5M-132.8M-294.3K0.4529.57N/AN/A1,18653232,30017,766
2007-11-15$70.14$52.5046.0%13.2%53.9%69.9%45.3%3.9%0.9%1.4M-126.0M-289.7K0.6529.62N/AN/A74448432,15617,654
2007-11-16$70.74$45.0046.8%13.4%52.7%72.4%47.1%6.0%0.9%369.1K-55.2M-65.3K0.5348.42N/AN/A3541899,8603,873
2007-11-19$67.96$52.5046.8%13.4%55.1%72.6%45.9%3.8%-1.3%1.3M-100.3M-268.1K0.4635.76N/AN/A64229728,03912,058
2007-11-20$68.34$52.5045.8%13.1%54.7%69.1%44.6%4.0%-0.9%1.3M-102.2M-264.0K1.2631.79N/AN/A19624728,08312,061
2007-11-21$67.40$52.5045.6%13.1%54.5%68.5%45.5%2.8%0.6%1.2M-95.9M-263.3K0.7931.65N/AN/A856728,05612,163
2007-11-23$68.72$52.5045.2%13.0%54.4%67.3%45.3%3.9%-0.6%1.3M-102.9M-257.6K0.2826.12N/AN/A1414028,06012,152
2007-11-26$67.83$52.5046.0%13.2%54.4%69.8%34.6%2.7%-1.1%1.2M-99.8M-244.8K0.0128.38N/AN/A15,30113528,11212,180
2007-11-27$69.27$57.5044.1%12.6%55.0%63.4%44.6%3.8%1.1%1.7M-107.7M-310.5K0.9718.52N/AN/A11811529,49212,228
2007-11-28$73.29$57.5040.6%11.6%57.1%52.0%41.9%4.8%1.8%1.9M-134.2M-293.7K0.5922.21N/AN/A63537729,47512,230
2007-11-29$75.50$57.5040.7%11.7%50.9%52.3%41.4%4.1%2.1%1.9M-148.6M-280.3K0.4029.73N/AN/A63725429,24512,307
2007-11-30$75.45$57.5041.0%11.8%43.6%53.4%40.8%3.8%1.2%1.9M-147.7M-275.6K0.6521.91N/AN/A2,8561,85529,27412,456