EWC Options History — May 2008

In May 2008, EWC traded between $32.36 and $35.75. ATM implied volatility averaged 18.9%, placing in the 36.2% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded below realized volatility by 1.8% (HV 20d: 20.7%). Max pain ranged from $30.00 to $31.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 0.62.

Notable Days

  • 2008-05-15: Highest Volume — 3,593 contracts
  • 2008-05-15: Largest IV spike — 37.9% change
  • 2008-05-01: Highest IV Rank — 52.5%
  • 2008-05-01: Largest Expected Move — 6.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.41$32.36$35.75$32.36$35.01
Max Pain$30.90$30.00$31.00$30.00$31.00
ATM IV18.9%13.9%22.9%22.9%20.4%
Expected Move5.8%5.3%6.6%6.6%5.8%
HV 20d20.7%17.0%24.5%22.7%17.9%
HV 60d26.4%25.6%26.7%26.5%25.6%
IV Rank36.2%18.6%52.5%52.5%37.6%
IV Percentile29.2%8.3%57.5%57.5%34.9%
Term Structure2.0%0.5%4.0%1.7%0.5%
VWIV20.5%17.8%22.7%22.1%20.5%
Skew 25d4.6%2.2%6.8%6.8%4.4%
Skew 10d9.4%3.2%14.0%5.8%8.1%
Call IV 25d17.7%15.7%19.5%17.0%16.5%
Put IV 25d22.3%19.6%24.9%23.8%20.9%
Bid-Ask Spread %19.6013.1830.6619.7614.74
Gamma HHI0.210.160.280.240.18
Net GEX560.5K334.9K721.7K691.3K447.5K
Net DEX-21.8M-28.3M-14.3M-14.3M-20.4M
Net VEX-64.0K-77.9K-53.8K-77.9K-59.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.620.072.330.290.32
Total Volume534.333583,59324658
Total OI17,196.23815,99417,81016,85017,779

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-05-01$32.36$30.0022.9%6.6%22.7%52.5%0.0%6.8%1.7%691.3K-14.3M-77.9K0.2919.76N/AN/A1915511,7115,139
2008-05-02$32.91$30.0019.6%5.6%23.3%40.1%22.1%4.8%2.1%716.0K-17.0M-76.9K0.2430.66N/AN/A3348011,7545,189
2008-05-05$33.04$31.0021.2%6.3%23.3%46.1%20.3%5.5%2.6%721.7K-18.6M-73.4K0.6029.16N/AN/A1539211,7775,188
2008-05-06$33.75$31.0017.3%5.9%24.3%31.4%22.7%5.4%2.5%706.1K-22.0M-70.1K0.3319.45N/AN/A32410811,8395,202
2008-05-07$33.49$31.0020.7%6.3%24.5%44.0%21.7%5.1%2.3%690.0K-20.7M-70.7K0.7221.33N/AN/A14610511,7495,203
2008-05-08$33.75$31.0015.2%5.6%24.4%23.5%22.0%6.2%4.0%650.4K-21.6M-70.4K0.3017.70N/AN/A672011,7935,308
2008-05-09$33.93$31.0014.9%5.7%22.7%22.4%21.9%4.0%3.8%632.5K-23.2M-68.4K0.0721.04N/AN/A2471711,8395,318
2008-05-12$34.45$31.0014.7%5.8%23.0%21.9%19.3%4.5%3.4%706.3K-25.7M-63.6K0.6624.05N/AN/A18412111,9855,329
2008-05-13$34.27$31.0019.6%5.9%23.2%40.1%21.3%4.2%2.8%541.8K-24.6M-65.5K0.1922.96N/AN/A4568511,9775,539
2008-05-14$34.26$31.0013.9%5.9%19.5%18.6%20.6%4.1%2.6%675.8K-25.6M-64.4K0.1121.46N/AN/A1862112,2365,574
2008-05-15$34.87$31.0019.1%5.5%20.0%38.2%19.7%3.9%2.0%632.7K-28.3M-60.1K0.1621.03N/AN/A3,09949412,1435,585
2008-05-16$35.32$31.0019.4%5.5%20.0%39.1%18.5%3.2%2.0%334.9K-27.9M-55.0K0.3418.25N/AN/A93131611,7416,017
2008-05-19$35.39$31.0020.4%5.8%19.9%42.9%20.5%4.0%0.6%520.4K-23.3M-53.8K1.4415.65N/AN/A39456910,4175,577
2008-05-20$35.75$31.0018.4%5.3%20.1%35.7%20.4%5.7%0.7%461.4K-23.9M-55.9K2.3318.26N/AN/A12829810,4776,101
2008-05-21$35.34$31.0019.8%5.7%17.3%40.8%17.8%2.2%1.7%431.4K-21.9M-58.3K0.3214.21N/AN/A52616610,5066,389
2008-05-22$35.41$31.0019.8%5.7%17.0%40.7%20.0%3.9%1.0%440.1K-22.1M-59.5K0.3920.32N/AN/A1606310,6956,471
2008-05-23$35.13$31.0019.3%5.5%17.4%33.3%19.0%4.4%1.5%437.6K-20.6M-60.6K0.6516.12N/AN/A1006510,6956,533
2008-05-27$34.44$31.0021.9%6.3%19.3%43.7%22.0%4.6%0.7%451.5K-17.7M-60.2K1.3518.51N/AN/A11515510,7226,547
2008-05-28$34.97$31.0019.2%5.5%17.8%32.9%20.7%5.8%2.4%436.9K-19.9M-60.0K0.4613.18N/AN/A23510910,7806,656
2008-05-29$34.68$31.0019.9%5.7%17.9%35.9%19.3%3.7%1.1%443.5K-19.2M-59.6K1.7613.82N/AN/A9015810,9366,705
2008-05-30$35.01$31.0020.4%5.8%17.9%37.6%20.5%4.4%0.5%447.5K-20.4M-59.8K0.3214.74N/AN/A441410,9786,801