CTL Options History — September 2011

In September 2011, CTL traded between $32.89 and $34.97. ATM implied volatility averaged 27.4%, placing in the 53.9% IV rank vs the trailing year. The 30-day expected move averaged 7.9%. IV traded below realized volatility by 8.2% (HV 20d: 35.6%). Max pain ranged from $35.00 to $36.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.82.

Notable Days

  • 2011-09-26: Highest Volume — 7,339 contracts
  • 2011-09-21: Largest IV spike — 26.1% change
  • 2011-09-30: Highest IV Rank — 75.3%
  • 2011-09-30: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.89$32.89$34.97$34.31$33.12
Max Pain$35.10$35.00$36.00$36.00$35.00
ATM IV27.4%21.1%33.1%25.8%33.1%
Expected Move7.9%6.4%9.5%7.4%9.5%
HV 20d35.6%28.6%45.8%45.8%28.6%
HV 60d34.2%32.7%35.4%32.8%35.4%
IV Rank53.9%33.6%75.3%49.7%75.3%
IV Percentile93.1%85.3%98.0%93.7%98.0%
Term Structure1.0%-1.5%3.2%-0.9%0.9%
VWIV26.9%21.9%32.2%24.8%29.5%
Skew 25d8.5%6.3%10.0%6.3%10.0%
Skew 10d18.5%8.9%26.7%8.9%18.0%
Call IV 25d24.0%19.7%28.7%21.8%28.7%
Put IV 25d32.5%27.2%38.7%28.1%38.7%
Bid-Ask Spread %21.8315.7430.5623.4122.68
Gamma HHI0.170.140.200.160.16
Net GEX543.9K-939.3K1.9M795.0K543.1K
Net DEX50.2M22.5M77.2M41.8M67.7M
Net VEX-727.6K-789.7K-640.7K-775.7K-703.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.820.142.620.600.44
Total Volume3,542.0951,0397,3394,3062,688
Total OI164,941.19156,636178,306156,636178,306

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-09-01$34.31$36.0025.8%7.4%45.8%49.7%24.8%6.3%-0.9%795.0K41.8M-775.7K0.6023.41N/AN/A2,6941,61298,63757,999
2011-09-02$34.15$36.0024.8%7.1%45.6%44.5%24.5%7.1%0.0%580.3K46.7M-773.2K1.2219.82N/AN/A634771100,01058,147
2011-09-06$33.23$35.0030.3%8.1%41.5%57.1%25.6%9.7%-0.6%-365.2K73.0M-673.5K0.5622.54N/AN/A1,003560100,28158,233
2011-09-07$33.85$35.0026.5%7.4%35.4%48.9%28.3%8.1%0.1%-277.2K60.7M-702.8K2.3717.68N/AN/A7921,878100,68158,218
2011-09-08$33.68$35.0026.2%7.4%35.0%48.8%26.1%8.1%0.3%-689.2K65.2M-688.6K0.6318.65N/AN/A801508100,91659,137
2011-09-09$33.07$35.0030.6%8.5%33.6%63.4%30.2%9.6%-0.5%-853.9K77.2M-665.8K1.0918.33N/AN/A1,5051,634101,20459,441
2011-09-12$33.35$35.0031.6%8.9%33.7%67.6%28.3%8.8%-1.5%-939.3K72.7M-674.2K0.4824.06N/AN/A701338102,22260,557
2011-09-13$34.64$35.0025.8%7.4%36.3%48.3%26.5%7.6%1.4%625.8K29.5M-788.4K0.3715.74N/AN/A2,9501,105102,29660,585
2011-09-14$34.66$35.0021.1%7.1%35.8%44.4%25.9%7.5%2.0%667.5K27.5M-783.3K0.6427.33N/AN/A1,188756104,27961,089
2011-09-15$34.25$35.0026.1%7.5%34.6%48.9%25.3%7.3%1.4%-151.9K43.1M-750.5K0.7216.16N/AN/A1,4261,033105,07461,386
2011-09-16$34.97$35.0022.2%6.4%33.0%33.6%21.9%6.7%3.2%950.6K22.5M-767.2K0.8017.30N/AN/A3,2142,559105,85961,969
2011-09-19$34.64$35.0023.0%6.6%32.9%36.9%23.4%8.3%2.3%1.1M28.6M-772.2K0.2727.43N/AN/A4,7811,302100,72557,959
2011-09-20$34.64$35.0022.2%6.4%32.8%33.8%22.4%7.8%3.0%1.6M25.3M-789.7K0.8926.41N/AN/A3,4533,082104,77858,683
2011-09-21$33.45$35.0028.0%8.0%34.8%55.9%25.7%9.4%1.0%779.9K59.7M-695.0K0.2724.95N/AN/A2,365646106,50656,841
2011-09-22$32.89$35.0029.5%8.4%34.8%61.4%29.0%9.6%1.6%356.2K74.5M-640.7K0.7220.88N/AN/A1,7981,287107,41957,108
2011-09-23$33.37$35.0031.6%9.1%35.2%69.5%32.2%8.8%1.0%820.1K59.1M-704.4K2.6221.73N/AN/A1,7964,706107,69357,486
2011-09-26$33.99$35.0029.3%8.4%35.9%61.0%28.2%9.0%2.1%1.3M41.3M-742.8K0.1419.15N/AN/A6,453886108,18461,295
2011-09-27$34.04$35.0029.2%8.4%34.2%60.3%27.5%9.3%2.0%1.9M35.8M-755.9K0.4320.28N/AN/A1,142495112,00061,351
2011-09-28$33.59$35.0029.2%8.4%34.5%60.4%29.1%8.6%2.2%1.3M53.4M-714.7K0.4123.37N/AN/A2,005819112,44461,526
2011-09-29$33.72$35.0029.9%8.6%33.3%63.2%30.0%9.8%0.9%1.4M49.0M-717.4K1.6030.56N/AN/A1,9293,089113,13762,104
2011-09-30$33.12$35.0033.1%9.5%28.6%75.3%29.5%10.0%0.9%543.1K67.7M-703.2K0.4422.68N/AN/A1,872816113,60964,697