CTL Options History — July 2008

In July 2008, CTL traded between $34.46 and $37.31. ATM implied volatility averaged 37.1%, placing in the 88.7% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded below realized volatility by 15.4% (HV 20d: 52.5%). Max pain ranged from $35.00 to $40.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 3.01.

Notable Days

  • 2008-07-01: Highest Volume — 2,896 contracts
  • 2008-07-10: Largest IV spike — 17.0% change
  • 2008-07-15: Highest IV Rank — 100.0%
  • 2008-07-30: Largest Expected Move — 11.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.76$34.46$37.31$35.93$37.19
Max Pain$35.45$35.00$40.00$35.00$35.00
ATM IV37.1%30.6%41.6%30.6%35.1%
Expected Move10.8%8.8%11.9%8.8%10.1%
HV 20d52.5%19.0%69.9%68.5%19.0%
HV 60d46.4%42.1%48.1%47.6%42.3%
IV Rank88.7%63.7%100.0%63.7%72.4%
IV Percentile96.3%77.8%100.0%77.8%90.9%
Term Structure-1.6%-5.9%4.6%4.6%-0.9%
VWIV37.0%30.6%41.2%30.6%35.0%
Skew 25d4.2%-2.3%11.2%-2.3%1.4%
Skew 10d11.1%-4.7%28.5%0.1%28.5%
Call IV 25d35.1%28.3%38.5%35.3%32.5%
Put IV 25d39.3%33.0%44.5%33.0%33.9%
Bid-Ask Spread %15.4510.4122.4821.6115.93
Gamma HHI0.250.220.320.290.32
Net GEX202.4K158.3K256.9K197.6K207.6K
Net DEX-3.2M-7.7M-101.4K-2.8M-4.1M
Net VEX-65.7K-76.8K-50.7K-50.7K-74.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.010.0130.440.200.08
Total Volume469.091422,8962,896384
Total OI13,221.7279,86715,19712,91212,134

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-07-01$35.93$35.0030.6%8.8%68.5%63.7%30.6%-2.3%4.6%197.6K-2.8M-50.7K0.2021.61N/AN/A2,4224748,6844,228
2008-07-02$34.46$35.0033.2%9.5%69.9%74.1%33.1%11.2%3.1%171.7K-101.4K-54.3K0.5814.60N/AN/A6853959,1834,607
2008-07-03$34.47$35.0033.4%9.6%69.4%75.0%33.3%10.6%2.4%188.2K-844.0K-59.7K1.5015.41N/AN/A34519,7444,714
2008-07-07$34.61$35.0035.8%10.6%69.0%89.0%36.0%2.5%-1.7%206.2K-1.5M-60.8K0.3311.50N/AN/A168559,7544,728
2008-07-08$35.06$35.0033.4%10.4%69.2%87.2%36.4%4.7%-1.4%208.5K-2.1M-60.1K0.0413.20N/AN/A441169,8374,780
2008-07-09$34.59$35.0033.0%10.5%69.3%88.3%0.0%3.0%-1.2%186.3K-1.7M-64.8K1.8814.58N/AN/A163010,1124,747
2008-07-10$35.04$35.0038.6%11.1%68.6%95.7%38.6%5.3%-2.4%208.0K-2.7M-64.8K0.6612.19N/AN/A946210,1074,747
2008-07-11$34.55$35.0037.4%10.7%64.0%91.1%37.4%4.2%-1.6%188.9K-1.6M-61.5K0.7916.83N/AN/A433410,1704,752
2008-07-14$34.76$35.0038.5%11.0%64.0%95.3%0.0%3.5%-2.4%205.6K-2.3M-63.1K1.3114.43N/AN/A547110,2134,760
2008-07-15$35.47$35.0040.5%11.6%64.2%100.0%40.2%3.1%-3.8%203.7K-4.3M-66.3K0.8715.59N/AN/A796910,1794,831
2008-07-16$35.85$35.0039.8%11.4%64.0%97.4%39.0%5.0%-3.1%210.5K-5.4M-66.1K0.1415.74N/AN/A1942810,2204,874
2008-07-17$35.99$35.0039.0%11.2%63.6%94.1%38.9%4.1%-2.5%207.6K-6.8M-63.6K0.9112.96N/AN/A15013610,2404,875
2008-07-18$36.41$35.0038.2%11.0%63.6%91.3%38.1%4.0%-2.3%217.7K-7.7M-66.4K4.3515.74N/AN/A3414810,2454,952
2008-07-21$36.64$35.0038.4%11.0%62.1%91.9%35.7%4.2%-1.2%216.6K-4.4M-66.9K0.0115.42N/AN/A28137,3512,516
2008-07-22$37.14$35.0036.4%10.4%62.1%84.0%35.9%3.2%-0.7%256.9K-5.1M-67.6K5.0015.50N/AN/A502507,5302,516
2008-07-23$37.31$35.0037.9%10.9%23.2%90.1%35.0%2.9%-0.8%248.3K-5.1M-68.0K1.2322.48N/AN/A2973667,5422,699
2008-07-24$36.47$40.0038.0%10.9%24.1%90.6%37.9%4.5%-1.9%207.3K-3.5M-66.9K14.5818.14N/AN/A527587,6402,925
2008-07-25$36.06$40.0037.4%10.7%24.4%86.2%37.3%7.2%-2.2%158.3K-1.5M-72.5K0.2318.10N/AN/A5521267,7223,601
2008-07-28$35.71$35.0041.2%11.8%23.8%100.0%41.2%6.0%-4.3%207.0K-2.0M-73.0K30.4418.82N/AN/A185488,1713,645
2008-07-29$36.26$35.0039.9%11.4%24.4%94.5%39.0%-1.8%-4.4%162.4K-2.3M-76.2K0.4010.41N/AN/A30128,1824,116
2008-07-30$36.84$35.0041.6%11.9%24.8%100.0%41.2%4.9%-5.9%188.2K-3.3M-76.8K0.5810.64N/AN/A3852258,1914,114
2008-07-31$37.19$35.0035.1%10.1%19.0%72.4%35.0%1.4%-0.9%207.6K-4.1M-74.8K0.0815.93N/AN/A355298,0974,037