EWC Options History — February 2009

In February 2009, EWC traded between $14.41 and $17.60. ATM implied volatility averaged 46.3%, placing in the 38.8% IV rank vs the trailing year. The 30-day expected move averaged 13.3%. IV traded above realized volatility by 0.4% (HV 20d: 45.9%). Max pain ranged from $17.00 to $20.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 36.28.

Notable Days

  • 2009-02-27: Highest Volume — 12,031 contracts
  • 2009-02-24: Largest IV drop — 16.8% change
  • 2009-02-23: Highest IV Rank — 47.3%
  • 2009-02-23: Largest Expected Move — 15.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$16.02$14.41$17.60$16.37$15.09
Max Pain$19.37$17.00$20.00$17.00$20.00
ATM IV46.3%39.1%53.4%49.1%50.8%
Expected Move13.3%11.2%15.3%14.1%14.6%
HV 20d45.9%39.5%52.6%52.6%40.9%
HV 60d51.7%44.7%58.3%58.3%44.7%
IV Rank38.8%30.2%47.3%42.2%44.1%
IV Percentile71.8%65.5%78.6%76.6%77.4%
Term Structure-1.6%-5.5%3.8%0.9%-4.5%
VWIV45.3%37.2%53.8%46.9%42.6%
Skew 25d12.4%8.6%17.3%8.6%10.8%
Skew 10d27.3%11.8%37.9%22.5%14.1%
Call IV 25d40.7%35.0%46.1%46.0%42.0%
Put IV 25d53.0%45.9%59.8%54.6%52.8%
Bid-Ask Spread %21.5813.1249.8129.0114.87
Gamma HHI0.250.230.280.260.25
Net GEX29.3K-309.3K374.3K145.7K-274.7K
Net DEX11.9M341.1K24.0M7.0M21.3M
Net VEX-92.4K-107.0K-68.7K-89.6K-102.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio36.280.00669.400.001.00
Total Volume2,154.2111212,0311212,031
Total OI78,546.63266,15993,00966,15992,996

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-02-02$16.37$17.0049.1%14.1%52.6%42.2%46.9%8.6%0.9%145.7K7.0M-89.6K0.0029.01N/AN/A12050,99415,165
2009-02-03$16.57$17.0047.2%13.5%51.5%39.8%37.2%11.0%1.1%136.1K6.9M-88.0K0.0041.59N/AN/A13051,00615,165
2009-02-04$16.66$17.0039.6%11.3%50.4%30.7%41.9%14.1%0.0%142.7K5.5M-92.5K0.8144.73N/AN/A756151,00815,165
2009-02-05$17.10$17.0039.1%11.2%49.9%30.2%0.0%9.7%2.8%187.2K4.3M-97.0K0.0049.81N/AN/A28051,08015,224
2009-02-06$17.46$20.0041.6%12.7%49.9%33.2%42.3%15.1%-2.8%325.0K1.7M-101.6K1.9420.52N/AN/A367051,09515,220
2009-02-09$17.60$20.0043.8%11.9%49.2%35.8%37.7%11.4%-0.8%374.3K341.1K-104.6K0.0114.38N/AN/A7,0124651,11015,280
2009-02-10$16.78$20.0049.7%13.4%48.9%42.8%50.9%10.7%-5.2%354.2K3.3M-100.6K0.0118.64N/AN/A3,9004558,05015,300
2009-02-11$16.71$20.0044.6%13.1%48.7%36.7%51.5%11.2%-2.3%356.7K3.6M-104.6K12.0017.12N/AN/A1012061,57215,345
2009-02-12$16.72$20.0043.1%12.4%45.7%35.0%48.9%12.5%0.7%252.0K5.5M-96.9K0.3218.51N/AN/A501661,57215,438
2009-02-13$16.58$20.0042.2%12.1%45.6%33.9%42.6%9.7%-0.3%253.0K4.8M-100.5K0.0016.72N/AN/A28061,57515,436
2009-02-17$15.52$20.0045.5%13.0%50.9%37.8%44.7%13.5%-2.8%66.2K10.5M-71.3K669.4020.08N/AN/A1510,04161,59815,436
2009-02-18$15.36$20.0051.8%14.9%44.1%45.4%49.1%17.3%-4.3%-195.7K18.9M-96.5K0.6415.27N/AN/A664261,60825,390
2009-02-19$15.29$20.0047.1%13.5%40.6%39.7%44.3%13.9%-2.9%-274.4K20.5M-87.4K0.1313.12N/AN/A951261,57125,430
2009-02-20$15.06$20.0049.5%14.2%39.5%42.7%53.8%12.4%-5.5%-276.2K22.3M-78.0K1.7114.94N/AN/A9516261,55725,412
2009-02-23$14.41$20.0053.4%15.3%39.7%47.3%50.3%11.8%-3.1%-208.2K23.2M-69.7K0.1015.16N/AN/A1881961,41425,340
2009-02-24$14.89$20.0044.5%12.7%41.7%36.6%45.1%11.3%3.8%-239.1K24.0M-68.7K0.9814.87N/AN/A3,1223,06461,58125,339
2009-02-25$14.89$20.0048.1%13.8%41.2%41.0%43.0%16.6%-0.2%-259.7K22.5M-98.2K0.2414.12N/AN/A842064,69228,317
2009-02-26$15.35$20.0049.1%14.1%41.3%42.1%42.5%13.7%-4.5%-309.3K20.2M-107.0K0.0416.63N/AN/A3381464,59828,307
2009-02-27$15.09$20.0050.8%14.6%40.9%44.1%42.6%10.8%-4.5%-274.7K21.3M-102.1K1.0014.87N/AN/A6,0146,01764,67528,321