CRS Options History — August 2009

In August 2009, CRS traded between $18.05 and $21.75. ATM implied volatility averaged 51.5%, placing in the 8.6% IV rank vs the trailing year. The 30-day expected move averaged 15.0%. IV traded above realized volatility by 4.6% (HV 20d: 46.9%). Max pain ranged from $17.50 to $20.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.70.

Notable Days

  • 2009-08-05: Highest Volume — 2,294 contracts
  • 2009-08-20: Largest IV drop — 9.6% change
  • 2009-08-17: Highest IV Rank — 15.0%
  • 2009-08-17: Largest Expected Move — 16.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.58$18.05$21.75$19.32$21.31
Max Pain$19.52$17.50$20.00$17.50$20.00
ATM IV51.5%45.1%58.4%49.8%49.0%
Expected Move15.0%12.9%16.7%14.3%14.0%
HV 20d46.9%44.2%51.6%51.6%47.3%
HV 60d53.4%51.6%56.3%56.3%53.2%
IV Rank8.6%2.7%15.0%7.0%6.3%
IV Percentile10.1%1.2%23.4%6.7%3.2%
Term Structure1.1%-1.3%3.9%1.1%2.6%
VWIV53.2%47.6%57.6%50.5%51.7%
Skew 25d5.9%2.6%15.7%5.0%3.9%
Skew 10d9.0%-3.7%24.7%-3.7%9.9%
Call IV 25d50.1%42.4%55.4%49.8%49.1%
Put IV 25d56.0%50.3%61.2%54.8%53.0%
Bid-Ask Spread %14.509.2220.8115.4319.69
Gamma HHI0.480.270.830.290.38
Net GEX56.6K-14.5K162.4K-3.9K93.5K
Net DEX105.1K-4.3M3.7M1.1M-2.6M
Net VEX-39.9K-43.5K-36.0K-36.0K-39.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.700.003.670.660.13
Total Volume603.42992,294261526
Total OI16,175.28614,05417,65414,05414,457

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-08-03$19.32$17.5049.8%14.3%51.6%7.0%50.5%5.0%1.1%-3.9K1.1M-36.0K0.6615.43N/AN/A1571046,9837,071
2009-08-04$19.39$17.5049.7%14.2%49.0%7.0%51.0%4.4%0.7%-938939.8K-36.5K0.2816.36N/AN/A157447,0287,149
2009-08-05$19.36$17.5052.4%15.0%45.8%9.5%54.0%3.3%2.6%2.8K764.3K-37.2K0.0316.85N/AN/A2,221737,1637,178
2009-08-06$19.19$17.5051.9%14.9%45.9%9.0%52.4%15.7%3.3%59.7K-135.5K-40.6K0.349.22N/AN/A3761298,7127,209
2009-08-07$19.75$20.0050.0%15.4%46.1%7.3%54.5%6.0%0.7%83.6K-1.6M-42.5K1.0413.83N/AN/A4514678,9207,281
2009-08-10$19.16$20.0051.5%15.7%47.5%8.6%54.7%6.2%0.1%55.6K33.1K-40.3K1.5015.09N/AN/A5518278,9447,547
2009-08-11$18.78$20.0051.2%15.7%48.3%8.4%55.3%5.5%-0.7%34.1K1.5M-41.5K1.839.89N/AN/A861579,0858,199
2009-08-12$19.15$20.0049.2%15.5%47.2%6.5%54.8%5.3%0.4%43.7K796.1K-43.4K0.2115.77N/AN/A48109,0748,320
2009-08-13$19.55$20.0053.9%15.4%44.8%10.8%53.8%4.2%0.1%63.3K-198.3K-43.5K0.6316.81N/AN/A1891209,1108,325
2009-08-14$19.24$20.0053.9%15.5%45.1%10.9%57.6%5.2%0.1%50.2K708.5K-42.4K0.0011.71N/AN/A909,1508,413
2009-08-17$18.05$20.0058.4%16.7%48.1%15.0%57.1%7.2%-1.3%-11.8K3.7M-36.8K3.6713.83N/AN/A552029,1528,413
2009-08-18$18.36$20.0057.2%16.4%48.0%13.9%56.4%2.6%0.0%-14.5K2.8M-37.3K1.3013.27N/AN/A941229,1368,467
2009-08-19$18.72$20.0057.8%16.6%44.5%14.4%57.4%7.4%-1.1%37.1K2.0M-37.8K0.0013.36N/AN/A27809,0728,520
2009-08-20$18.99$20.0052.2%15.0%44.6%9.3%56.7%6.8%0.9%60.0K1.7M-37.5K0.6914.78N/AN/A55389,0668,510
2009-08-21$19.77$20.0051.6%14.8%46.6%8.7%52.4%5.1%1.8%162.4K-112.2K-40.1K0.2515.69N/AN/A238609,1218,533
2009-08-24$20.24$20.0051.5%14.8%47.1%8.6%51.7%5.5%1.2%79.7K-872.0K-40.1K0.1510.53N/AN/A7741157,9777,037
2009-08-25$19.64$20.0050.5%14.5%47.1%7.7%50.5%6.3%1.1%86.5K353.6K-38.7K0.1611.78N/AN/A515838,1847,023
2009-08-26$19.97$20.0048.9%14.0%44.2%6.3%48.7%8.1%1.8%101.0K-527.2K-40.7K0.8910.53N/AN/A2191958,4907,047
2009-08-27$21.45$20.0045.1%12.9%48.2%2.7%47.6%4.7%3.9%109.0K-4.3M-41.9K0.0319.19N/AN/A661238,5087,047
2009-08-28$21.75$20.0046.1%13.2%47.3%3.6%48.5%5.0%3.9%98.5K-3.8M-43.2K0.8920.81N/AN/A1,1891,0547,9997,061
2009-08-31$21.31$20.0049.0%14.0%47.3%6.3%51.7%3.9%2.6%93.5K-2.6M-39.8K0.1319.69N/AN/A466607,6906,767