EWC Options History — November 2008

In November 2008, EWC traded between $14.47 and $21.08. ATM implied volatility averaged 65.1%, placing in the 61.3% IV rank vs the trailing year. The 30-day expected move averaged 18.4%. IV traded below realized volatility by 24.9% (HV 20d: 90.0%). Max pain ranged from $18.00 to $20.00. Net GEX was positive for 1 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 10.38.

Notable Days

  • 2008-11-04: Highest Volume — 5,101 contracts
  • 2008-11-12: Largest IV spike — 22.5% change
  • 2008-11-20: Highest IV Rank — 83.2%
  • 2008-11-20: Largest Expected Move — 23.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.73$14.47$21.08$19.57$17.11
Max Pain$19.68$18.00$20.00$18.00$20.00
ATM IV65.1%50.5%83.5%56.0%58.3%
Expected Move18.4%14.5%23.9%16.1%16.7%
HV 20d90.0%81.0%100.2%97.5%81.0%
HV 60d73.9%67.3%79.8%67.3%79.8%
IV Rank61.3%43.8%83.2%50.4%53.1%
IV Percentile93.1%84.9%98.8%91.3%86.1%
Term Structure-7.2%-14.8%2.3%-3.7%-4.7%
VWIV57.6%33.0%74.6%61.3%55.4%
Skew 25d17.9%11.9%29.0%15.8%16.2%
Skew 10d42.4%20.9%72.0%45.9%31.4%
Call IV 25d55.3%43.1%71.7%52.3%51.2%
Put IV 25d73.2%60.4%94.4%68.1%67.4%
Bid-Ask Spread %30.5119.0856.0728.4931.85
Gamma HHI0.440.130.940.180.66
Net GEX-432.1K-1.4M39.6K-98.2K-247.5K
Net DEX25.0M11.4M35.5M18.0M24.4M
Net VEX-65.6K-103.0K-34.0K-97.2K-36.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio10.380.00119.398.720.00
Total Volume744.474205,1011,18645
Total OI62,239.47451,74067,79862,51652,043

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-11-03$19.57$18.0056.0%16.1%97.5%50.4%61.3%15.8%-3.7%-98.2K18.0M-97.2K8.7228.49N/AN/A1221,06430,90531,611
2008-11-04$21.08$18.0050.5%14.5%99.5%43.8%61.5%17.3%-1.1%39.6K11.4M-103.0K19.8233.91N/AN/A2454,85631,00431,911
2008-11-05$20.18$19.0058.4%16.7%100.2%53.3%59.9%11.9%-4.3%-284.9K17.9M-101.7K0.8944.06N/AN/A746631,14736,605
2008-11-06$19.22$19.0064.7%18.5%97.7%60.8%66.8%17.3%-5.8%-434.2K23.5M-97.4K0.6742.89N/AN/A12831,15336,640
2008-11-07$19.22$20.0060.5%15.9%95.6%55.7%51.6%13.8%-3.7%-427.0K24.1M-93.2K2.4625.19N/AN/A6716531,15636,642
2008-11-10$19.32$20.0063.4%16.4%85.4%59.3%49.5%12.1%-7.2%-408.8K18.4M-90.1K0.8528.08N/AN/A716031,17334,332
2008-11-11$18.61$20.0060.4%17.1%85.4%55.7%0.0%19.6%-9.1%-490.6K22.7M-80.8K0.0019.45N/AN/A08831,20434,352
2008-11-12$17.07$20.0074.0%19.5%85.6%71.9%67.7%12.6%-11.2%-522.9K29.5M-68.0K11.9121.06N/AN/A1113131,20434,360
2008-11-13$18.36$20.0063.3%18.1%90.0%59.1%51.1%29.0%-10.1%-616.2K26.5M-71.2K3.4825.09N/AN/A4961,72631,20034,401
2008-11-14$17.53$20.0063.8%18.3%91.1%59.7%66.1%16.6%-12.0%-468.1K25.6M-68.8K0.6726.19N/AN/A241631,64532,960
2008-11-17$17.15$20.0070.8%20.3%87.9%68.0%63.7%14.5%-11.8%-477.5K28.0M-59.2K0.0556.07N/AN/A63331,64132,959
2008-11-18$17.03$20.0071.0%20.4%86.0%68.4%33.0%18.9%-12.7%-453.8K29.3M-54.0K1.9445.68N/AN/A509731,68032,958
2008-11-19$16.26$20.0072.0%20.6%81.9%69.5%51.3%15.2%-12.2%-548.8K32.4M-44.4K119.3928.90N/AN/A283,34331,60933,033
2008-11-20$14.47$20.0083.5%23.9%91.0%83.2%72.8%22.7%-14.8%-589.5K35.5M-34.0K7.6919.08N/AN/A2620031,61831,316
2008-11-21$15.20$20.0078.8%22.6%93.1%77.7%40.2%26.5%-12.9%-1.4M31.5M-36.4K1.2725.69N/AN/A17622431,64231,077
2008-11-24$16.18$20.0067.9%19.5%91.2%64.6%74.6%24.1%-3.5%-239.7K25.1M-36.4K4.8421.31N/AN/A5024227,86423,876
2008-11-25$16.49$20.0064.2%18.4%86.1%60.2%54.6%18.1%1.2%-272.4K25.4M-37.3K0.6726.38N/AN/A151027,89523,914
2008-11-26$16.75$20.0055.6%15.9%83.9%49.9%56.5%17.7%2.3%-246.9K24.9M-36.3K1.6130.36N/AN/A10416727,90623,914
2008-11-28$17.11$20.0058.3%16.7%81.0%53.1%55.4%16.2%-4.7%-247.5K24.4M-36.9K0.0031.85N/AN/A45027,99924,044