CTL Options History — March 2009

In March 2009, CTL traded between $23.56 and $28.29. ATM implied volatility averaged 45.8%, placing in the 51.2% IV rank vs the trailing year. The 30-day expected move averaged 13.2%. IV traded below realized volatility by 10.6% (HV 20d: 56.3%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.56.

Notable Days

  • 2009-03-12: Highest Volume — 16,339 contracts
  • 2009-03-30: Largest IV spike — 34.6% change
  • 2009-03-09: Highest IV Rank — 63.3%
  • 2009-03-09: Largest Expected Move — 15.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.13$23.56$28.29$25.23$28.12
Max Pain$29.09$25.00$30.00$25.00$30.00
ATM IV45.8%32.8%57.3%43.1%39.2%
Expected Move13.2%9.4%15.1%12.4%11.3%
HV 20d56.3%42.4%62.6%42.4%51.4%
HV 60d44.7%41.0%46.3%41.0%45.6%
IV Rank51.2%26.4%63.3%45.5%38.4%
IV Percentile69.2%40.9%81.7%65.1%52.0%
Term Structure-1.1%-9.7%6.8%2.8%3.2%
VWIV47.3%38.9%64.0%43.6%39.4%
Skew 25d9.0%3.7%17.9%17.9%10.9%
Skew 10d17.7%2.3%35.2%15.5%19.8%
Call IV 25d42.3%31.9%51.9%33.7%39.5%
Put IV 25d51.3%46.9%55.6%51.6%50.4%
Bid-Ask Spread %19.567.9648.059.5019.63
Gamma HHI0.470.310.640.470.64
Net GEX152.7K-31.8K328.0K278.8K194.5K
Net DEX749.3K-5.5M8.2M3.1M-5.5M
Net VEX-68.9K-87.7K-44.8K-57.0K-86.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.560.014.274.270.03
Total Volume1,488.8182116,339543673
Total OI23,438.54520,96925,41724,11422,302

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-03-02$25.23$25.0043.1%12.4%42.4%45.5%43.6%17.9%2.8%278.8K3.1M-57.0K4.279.50N/AN/A10344016,6507,464
2009-03-03$23.83$25.0044.1%12.7%45.8%47.4%52.8%7.9%1.3%156.0K7.0M-49.4K0.1216.43N/AN/A1,38416616,6977,740
2009-03-04$25.45$25.0044.7%12.8%52.6%48.5%44.6%17.8%2.0%273.3K2.3M-55.7K0.3217.36N/AN/A33010617,1597,772
2009-03-05$25.15$25.0032.8%9.4%52.5%26.4%46.1%15.0%6.8%294.4K2.2M-60.0K0.2918.54N/AN/A77622217,3237,827
2009-03-06$24.09$30.0043.9%13.0%54.3%49.9%48.2%7.5%-2.5%199.8K5.7M-52.9K0.3312.70N/AN/A55218016,7267,892
2009-03-09$23.56$30.0057.3%15.1%53.1%63.3%51.7%3.7%-9.7%134.7K8.2M-44.8K0.277.96N/AN/A37610017,0297,989
2009-03-10$25.32$30.0047.1%14.1%60.3%56.5%48.7%8.4%-5.4%284.6K2.0M-57.4K0.1212.57N/AN/A1,26214917,0968,054
2009-03-11$25.22$30.0038.9%13.9%59.3%55.2%48.4%6.5%-4.3%302.0K1.7M-54.7K1.4112.04N/AN/A375216,8488,146
2009-03-12$26.13$30.0048.5%13.9%60.8%55.5%64.0%5.8%-5.0%328.0K-253.8K-57.4K0.0113.22N/AN/A16,20013916,8588,192
2009-03-13$25.04$30.0048.7%14.0%62.6%55.8%48.6%5.8%-3.5%-31.8K5.9M-52.0K0.1814.07N/AN/A1,29223913,6178,290
2009-03-16$25.13$30.0049.0%14.1%62.5%56.5%50.1%5.1%-4.5%-12.6K5.2M-52.5K0.5113.85N/AN/A35618313,0098,287
2009-03-17$26.37$30.0049.2%14.1%60.0%56.9%48.9%6.4%-2.9%33.6K1.3M-55.9K0.7218.42N/AN/A2,6521,90112,8538,319
2009-03-18$26.78$30.0049.4%14.2%60.2%57.2%47.6%8.2%-3.2%64.8K-1.7M-87.3K0.5221.29N/AN/A25813415,07910,137
2009-03-19$26.46$30.0048.4%13.9%60.4%55.4%47.8%6.9%-0.9%52.4K-849.8K-86.3K0.7517.83N/AN/A12915,24410,173
2009-03-20$26.50$30.0051.6%14.8%58.6%61.2%49.0%8.3%-3.5%59.0K-1.6M-85.2K1.1716.61N/AN/A465415,24210,174
2009-03-23$27.29$30.0051.3%14.7%59.0%60.6%40.4%10.0%-1.2%70.2K-733.5K-85.7K0.1318.45N/AN/A2803611,7459,224
2009-03-24$27.38$30.0050.2%14.4%57.4%58.6%48.8%8.8%-2.0%90.0K-2.0M-87.7K0.5940.05N/AN/A26415711,9959,219
2009-03-25$27.88$30.0039.7%11.4%57.7%39.3%45.7%9.0%2.3%131.6K-3.6M-87.1K0.2317.69N/AN/A1864312,2199,371
2009-03-26$28.27$30.0040.1%11.5%56.5%40.0%40.4%9.8%2.0%165.8K-4.8M-87.1K0.0332.29N/AN/A3721012,3609,390
2009-03-27$28.29$30.0038.4%11.0%56.5%36.7%38.9%11.0%3.8%187.5K-5.4M-87.3K0.2448.05N/AN/A3588612,6399,390
2009-03-30$27.31$30.0051.6%14.8%55.7%61.3%47.6%7.2%-0.9%102.5K-2.1M-85.7K0.0931.82N/AN/A5324712,5519,357
2009-03-31$28.12$30.0039.2%11.3%51.4%38.4%39.4%10.9%3.2%194.5K-5.5M-86.3K0.0319.63N/AN/A6522112,9559,347