EPP Options History — July 2008

In July 2008, EPP traded between $42.80 and $45.50. ATM implied volatility averaged 30.6%. The 30-day expected move averaged 8.7%. IV traded above realized volatility by 9.0% (HV 20d: 21.6%). Max pain ranged from $40.00 to $48.33. Net GEX was positive for 7 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 2.52.

Notable Days

  • 2008-07-09: Highest Volume — 339 contracts
  • 2008-07-17: Largest IV drop — 13.3% change
  • 2008-07-15: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.93$42.80$45.50$44.28$43.25
Max Pain$44.17$40.00$48.33$48.33$40.00
ATM IV30.6%27.2%34.8%31.0%31.5%
Expected Move8.7%7.8%9.5%8.9%9.0%
HV 20d21.6%17.7%25.9%19.9%25.4%
HV 60d21.6%20.4%22.7%22.0%22.7%
Term Structure-0.7%-3.5%2.3%-0.5%-1.8%
VWIV29.7%21.4%33.2%29.6%31.6%
Skew 25d5.5%2.6%9.1%5.5%9.1%
Skew 10d7.2%-4.9%14.3%5.4%3.3%
Call IV 25d26.5%20.5%30.5%27.5%20.5%
Put IV 25d32.0%26.7%35.7%33.0%29.7%
Bid-Ask Spread %98.3775.29134.7396.14133.45
Gamma HHI0.360.230.530.330.37
Net GEX-54.0K-132.8K47.9K-124.2K2.3K
Net DEX1.9M-562.8K4.0M3.5M-32.2K
Net VEX-3.4K-5.2K0-5.2K-57
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.520.0017.500.630.00
Total Volume71.2380339390
Total OI1,139.61901,9411,61417

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-07-01$44.28$48.3331.0%8.9%19.9%0.0%0.0%5.5%-0.5%-124.2K3.5M-5.2K0.6396.14N/AN/A24154351,179
2008-07-02$43.65$48.3332.4%9.3%20.1%0.0%0.0%7.6%-0.8%-99.1K3.9M-4.6K0.0097.33N/AN/A004351,194
2008-07-03$43.73$48.3331.3%9.0%19.1%0.0%29.6%6.2%-0.4%-103.6K3.9M-4.4K10.0099.54N/AN/A121204351,194
2008-07-07$43.66$43.3334.4%9.1%17.7%0.0%0.0%5.7%-1.3%-97.0K4.0M-4.6K0.0075.47N/AN/A6604471,221
2008-07-08$43.96$43.3334.8%9.3%18.2%0.0%33.0%4.3%-2.0%-102.5K4.0M-4.5K1.0075.29N/AN/A664501,221
2008-07-09$43.14$43.3331.2%9.0%18.4%0.0%0.0%2.6%-1.7%-72.4K4.0M-4.0K3.91109.03N/AN/A692704561,179
2008-07-10$43.84$43.3331.5%9.0%19.7%0.0%31.4%6.5%-1.2%-132.8K3.9M-4.6K0.0077.50N/AN/A16505071,293
2008-07-11$43.50$43.3331.6%9.1%19.6%0.0%31.6%3.8%-1.9%-77.0K3.9M-4.5K2.0086.20N/AN/A6126571,278
2008-07-14$43.61$43.3331.8%9.1%19.3%0.0%29.3%4.4%-1.4%-79.1K3.9M-4.2K17.5079.15N/AN/A122106571,284
2008-07-15$42.80$43.3333.0%9.5%20.1%0.0%33.1%5.3%-2.3%-77.3K3.5M-3.7K5.0080.53N/AN/A9456661,104
2008-07-16$44.05$43.3332.4%9.3%23.0%0.0%33.2%5.3%-1.4%-72.2K950.4K-3.9K1.8381.97N/AN/A1833675681
2008-07-17$44.10$43.3328.1%8.0%23.0%0.0%27.4%4.0%1.4%-71.7K893.4K-4.0K1.0388.42N/AN/A9396693708
2008-07-18$44.03$43.3329.4%8.4%22.9%0.0%0.0%4.4%-3.5%-108.1K1.1M-4.6K0.0090.29N/AN/A012786801
2008-07-21$44.97$43.3330.3%8.7%22.3%0.0%21.4%8.6%-1.2%8.4K-100.2K-4.3K0.0086.59N/AN/A810339330
2008-07-22$45.07$43.3328.4%8.2%22.1%0.0%28.9%5.0%-0.3%21.6K-198.8K-4.6K0.0090.94N/AN/A900417330
2008-07-23$45.50$43.3328.6%8.2%22.4%0.0%27.3%9.1%0.4%47.9K-562.8K-5.0K0.0094.02N/AN/A90507330
2008-07-25$44.46$0.0027.6%7.9%23.7%0.0%27.6%0.0%0.9%0000.00130.06N/AN/A8000
2008-07-28$43.07$45.0028.0%8.0%25.1%0.0%0.0%0.0%0.8%873-5.9K-340.00128.73N/AN/A1080
2008-07-29$43.68$45.0027.2%7.8%25.6%0.0%0.0%0.0%2.3%1.1K-10.7K-430.00130.44N/AN/A0090
2008-07-30$44.12$45.0028.3%8.1%25.9%0.0%31.6%0.0%1.5%1.2K-11.9K-440.00134.73N/AN/A8090
2008-07-31$43.25$40.0031.5%9.0%25.4%0.0%0.0%0.0%-1.8%2.3K-32.2K-570.00133.45N/AN/A00170