CTL Options History — August 2011

In August 2011, CTL traded between $31.82 and $37.00. ATM implied volatility averaged 30.3%, placing in the 70.0% IV rank vs the trailing year. The 30-day expected move averaged 8.4%. IV traded below realized volatility by 10.4% (HV 20d: 40.7%). Max pain ranged from $34.00 to $38.00. Net GEX was positive for 11 of 23 trading days. Term structure was in contango for 5 of 23 days. Put/call ratio averaged 0.55.

Notable Days

  • 2011-08-31: Highest Volume — 46,699 contracts
  • 2011-08-08: Largest IV spike — 51.3% change
  • 2011-08-02: Highest IV Rank — 100.0%
  • 2011-08-08: Largest Expected Move — 11.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.58$31.82$37.00$37.00$36.15
Max Pain$35.17$34.00$38.00$38.00$34.00
ATM IV30.3%21.3%48.6%22.6%21.3%
Expected Move8.4%6.1%11.3%6.5%6.1%
HV 20d40.7%14.9%49.2%14.9%44.2%
HV 60d27.2%15.9%31.2%16.2%31.2%
IV Rank70.0%33.2%100.0%88.6%33.2%
IV Percentile96.8%86.9%100.0%99.2%86.9%
Term Structure-1.5%-5.7%3.5%-0.2%3.5%
VWIV29.9%22.5%39.6%23.5%38.7%
Skew 25d8.4%3.8%12.7%5.4%9.8%
Skew 10d17.1%-10.0%27.1%8.5%17.5%
Call IV 25d25.3%17.5%35.1%21.0%17.5%
Put IV 25d33.7%26.4%43.5%26.4%27.3%
Bid-Ask Spread %22.8614.1536.3521.6822.06
Gamma HHI0.160.130.230.170.18
Net GEX575.5K-762.0K3.5M2.2M3.5M
Net DEX56.2M-6.9M98.8M10.9M-6.9M
Net VEX-742.8K-859.1K-567.5K-795.2K-859.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.550.061.441.440.06
Total Volume7,442.4351,54046,6991,54046,699
Total OI148,183.304124,305163,366124,305156,214

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-08-01$37.00$38.0022.6%6.5%14.9%88.6%23.5%5.4%-0.2%2.2M10.9M-795.2K1.4421.68N/AN/A63190979,25045,055
2011-08-02$36.93$38.0025.9%7.4%14.9%100.0%26.5%5.4%-1.1%2.2M10.5M-801.6K1.0736.35N/AN/A8,0268,60179,39745,499
2011-08-03$34.66$38.0025.7%7.4%25.4%98.4%26.5%3.8%1.0%-753.0K80.5M-656.1K0.4716.13N/AN/A10,5364,93584,30451,951
2011-08-04$33.25$38.0037.5%10.8%27.9%100.0%35.5%3.9%-3.8%-762.0K93.2M-619.5K0.7132.13N/AN/A3,8772,74086,35454,467
2011-08-05$33.72$36.0032.1%9.0%29.2%76.8%32.9%7.4%-2.4%-512.6K83.4M-691.3K0.1819.84N/AN/A9,7801,79787,75054,328
2011-08-08$31.82$35.0048.6%11.3%33.8%100.0%39.6%8.3%-5.5%-221.8K98.8M-567.5K1.2521.01N/AN/A2,4063,01990,97354,513
2011-08-09$33.88$35.0040.6%10.0%42.7%83.2%35.2%7.3%-2.1%-74.8K75.6M-718.5K0.9625.65N/AN/A2,6652,55190,87056,071
2011-08-10$33.38$35.0044.8%10.7%42.7%92.7%35.3%10.2%-5.7%-172.9K81.3M-678.7K1.1123.49N/AN/A4,5725,09892,12857,223
2011-08-11$34.46$35.0034.9%10.0%45.0%83.5%33.4%7.9%-4.0%-112.2K66.6M-785.8K0.3220.45N/AN/A3,2581,05692,77061,184
2011-08-12$34.61$35.0030.4%8.7%45.1%67.8%29.7%7.9%-2.6%-130.3K66.7M-777.5K0.6119.62N/AN/A1,14770394,03161,383
2011-08-15$34.98$35.0025.7%7.4%45.3%51.6%23.2%8.3%-1.2%-195.4K62.3M-774.0K0.1423.91N/AN/A3,34547194,51961,305
2011-08-16$34.38$35.0028.9%8.3%45.4%62.5%26.5%9.2%-2.8%-218.8K74.3M-730.4K0.1720.79N/AN/A2,23737696,34061,114
2011-08-17$35.31$35.0025.7%7.4%46.8%51.5%23.2%7.3%-1.5%490.6K51.2M-791.7K0.3920.99N/AN/A2,7271,07497,50761,202
2011-08-18$34.07$35.0032.2%9.2%47.7%74.3%32.6%10.5%-3.4%-107.2K78.6M-726.6K0.2522.79N/AN/A3,17477999,25061,559
2011-08-19$33.70$34.0031.9%9.1%47.4%73.0%31.0%12.7%-1.4%-164.4K84.8M-715.7K0.2322.86N/AN/A5,3651,229101,40461,962
2011-08-22$33.99$34.0030.3%8.7%47.5%67.5%29.5%10.8%-0.9%392.8K57.1M-724.1K0.1918.35N/AN/A3,71871090,14653,011
2011-08-23$34.47$34.0028.6%8.2%47.7%59.9%28.9%10.2%-1.7%941.2K45.1M-763.1K0.5324.40N/AN/A1,51180892,26353,336
2011-08-24$34.87$34.0026.2%7.5%47.9%51.2%27.0%9.9%1.1%1.2M37.3M-776.3K0.3527.46N/AN/A1,76961293,03853,478
2011-08-25$34.43$34.0028.7%8.2%47.9%60.3%30.8%10.6%-1.2%996.6K45.7M-769.7K0.3521.67N/AN/A3,4391,20694,06053,598
2011-08-26$34.44$34.0026.4%7.6%47.9%51.8%26.9%8.1%-0.5%914.5K49.4M-754.9K0.9129.58N/AN/A1,1281,02695,43754,588
2011-08-29$35.42$34.0024.5%7.0%49.2%44.7%29.8%10.3%0.3%2.1M20.8M-798.5K0.7320.43N/AN/A2,7802,03096,11054,674
2011-08-30$35.36$34.0022.6%6.5%49.2%38.0%22.5%9.0%1.9%1.7M24.9M-809.6K0.2014.15N/AN/A3,88377396,59056,010
2011-08-31$36.15$34.0021.3%6.1%44.2%33.2%38.7%9.8%3.5%3.5M-6.9M-859.1K0.0622.06N/AN/A44,1652,53499,87056,344