EWC Options History — July 2008

In July 2008, EWC traded between $30.54 and $33.24. ATM implied volatility averaged 25.3%, placing in the 57.6% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded above realized volatility by 6.0% (HV 20d: 19.3%). Max pain ranged from $31.00 to $34.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 1.00.

Notable Days

  • 2008-07-22: Highest Volume — 8,134 contracts
  • 2008-07-30: Largest IV drop — 15.1% change
  • 2008-07-15: Highest IV Rank — 71.4%
  • 2008-07-15: Largest Expected Move — 8.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.65$30.54$33.24$33.24$31.35
Max Pain$32.64$31.00$34.00$34.00$31.00
ATM IV25.3%20.6%28.6%23.8%21.5%
Expected Move7.2%5.9%8.2%6.8%6.2%
HV 20d19.3%17.4%24.2%18.7%23.2%
HV 60d19.9%18.9%20.8%20.2%20.0%
IV Rank57.6%38.5%71.4%51.8%42.4%
IV Percentile68.9%21.0%92.1%64.7%32.1%
Term Structure0.3%-1.0%2.5%0.5%2.5%
VWIV24.9%20.7%27.9%23.9%23.9%
Skew 25d4.9%1.6%7.2%6.4%6.8%
Skew 10d9.2%1.7%16.7%7.6%5.9%
Call IV 25d22.7%18.4%26.2%20.6%18.4%
Put IV 25d27.7%23.9%30.8%27.0%25.2%
Bid-Ask Spread %24.7818.6934.7121.0820.13
Gamma HHI0.270.220.330.230.23
Net GEX304.6K129.1K407.8K386.5K316.4K
Net DEX-916.5K-4.3M1.2M-4.3M-3.0M
Net VEX-56.1K-101.0K-34.9K-47.5K-100.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.000.062.400.160.88
Total Volume950.909378,1342083,234
Total OI13,0819,05922,4799,66622,479

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-07-01$33.24$34.0023.8%6.8%18.7%51.8%23.9%6.4%0.5%386.5K-4.3M-47.5K0.1621.08N/AN/A179296,6283,038
2008-07-02$32.53$34.0023.9%6.8%19.9%51.9%21.3%3.6%1.0%334.7K-2.1M-45.0K0.8231.26N/AN/A1411156,5803,058
2008-07-03$32.30$34.0025.7%7.4%17.9%59.5%25.1%6.8%-0.4%316.2K-1.2M-43.7K0.9221.66N/AN/A1731596,6243,153
2008-07-07$31.82$34.0028.4%8.0%18.3%70.6%25.7%2.9%-0.7%304.8K-239.2K-40.4K1.3618.83N/AN/A2353196,6813,167
2008-07-08$31.94$33.0027.1%7.7%18.5%64.9%26.0%6.0%-0.6%327.9K-427.3K-40.0K0.1221.45N/AN/A113146,7343,161
2008-07-09$31.66$33.0027.2%7.8%17.7%65.3%27.3%3.1%-0.5%324.6K-505.1K-39.5K2.4025.93N/AN/A15366,7703,061
2008-07-10$32.03$33.0027.1%7.8%18.1%65.0%27.3%5.3%-0.3%330.0K-852.9K-40.2K2.0024.88N/AN/A40806,7783,087
2008-07-11$31.87$33.0027.7%7.9%17.6%67.6%27.2%5.0%-1.0%329.7K-817.4K-39.9K1.6421.90N/AN/A58956,8163,103
2008-07-14$32.04$33.0028.3%8.1%17.4%69.8%27.8%6.8%0.3%339.7K-1.0M-40.0K0.5427.07N/AN/A69376,8613,152
2008-07-15$31.16$33.0028.6%8.2%18.0%71.4%27.9%2.1%-0.2%315.9K682.4K-36.3K1.5528.02N/AN/A1241926,9003,185
2008-07-16$31.66$33.0026.8%7.7%18.3%63.7%26.2%3.8%0.5%339.3K-431.4K-37.5K0.4523.36N/AN/A184826,9443,061
2008-07-17$31.46$33.0028.2%8.1%18.2%69.7%20.7%6.1%-1.0%360.3K-113.3K-36.1K0.9524.54N/AN/A19187,0183,046
2008-07-18$31.62$33.0024.5%7.0%18.0%54.4%24.7%6.1%1.5%381.5K-737.0K-36.5K0.0624.64N/AN/A13987,0363,040
2008-07-21$32.13$32.0023.8%6.8%18.7%51.4%24.0%5.6%0.7%399.7K-2.2M-36.8K0.1534.71N/AN/A248386,3302,729
2008-07-22$31.86$32.0022.8%6.5%18.5%47.6%26.2%7.2%1.2%407.8K-1.6M-34.9K2.2125.48N/AN/A2,5375,5976,5352,766
2008-07-23$31.52$32.0022.7%6.5%18.3%47.3%23.7%3.5%1.8%248.7K-1.5M-82.4K0.2522.01N/AN/A149379,0408,098
2008-07-24$30.56$32.0025.4%7.3%20.8%58.3%24.7%4.5%-0.9%129.1K1.2M-78.0K0.5532.26N/AN/A124689,1328,124
2008-07-25$30.86$32.0023.0%6.6%21.2%48.4%24.0%5.2%0.9%150.9K897.9K-80.5K0.9826.13N/AN/A2,5872,5369,1648,135
2008-07-28$30.54$32.0024.7%7.1%21.1%55.3%24.9%1.6%0.4%134.8K1.1M-101.0K0.9928.34N/AN/A27327011,63310,645
2008-07-29$30.64$31.0024.2%6.9%21.3%53.4%22.8%6.1%-0.4%162.8K891.3K-98.3K1.0618.69N/AN/A697311,67410,460
2008-07-30$31.53$31.0020.6%5.9%24.2%38.5%22.9%3.7%2.1%360.1K-3.9M-100.5K1.8922.88N/AN/A14126611,70810,448
2008-07-31$31.35$31.0021.5%6.2%23.2%42.4%23.9%6.8%2.5%316.4K-3.0M-100.0K0.8820.13N/AN/A1,7211,51311,80610,673