FIZZ Options History — September 2007

In September 2007, FIZZ traded between $4.05 and $5.20. ATM implied volatility averaged 56.4%. The 30-day expected move averaged 16.4%. IV traded above realized volatility by 11.8% (HV 20d: 44.6%). Max pain ranged from $3.75 to $3.75. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 2.73.

Notable Days

  • 2007-09-10: Highest Volume — 286 contracts
  • 2007-09-10: Largest IV spike — 21.8% change
  • 2007-09-13: Largest Expected Move — 18.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.39$4.05$5.20$5.14$4.24
Max Pain$3.75$3.75$3.75$3.75$3.75
ATM IV56.4%47.7%63.6%56.0%55.4%
Expected Move16.4%14.2%18.2%16.1%15.9%
HV 20d44.6%32.2%51.1%32.8%44.1%
HV 60d45.2%42.1%46.7%42.6%45.7%
Term Structure1.4%-6.2%18.2%-0.1%13.3%
VWIV49.1%46.3%53.7%53.7%46.3%
Skew 25d11.9%-0.8%22.7%1.1%20.2%
Skew 10d13.7%-9.3%25.0%4.4%17.8%
Call IV 25d46.8%39.5%54.1%49.3%41.6%
Put IV 25d58.7%50.4%62.8%50.4%61.8%
Bid-Ask Spread %50.1630.1761.3641.2360.64
Gamma HHI0.410.340.500.450.45
Net GEX2.4K3975.1K5.0K1.7K
Net DEX-52.9K-329.0K57.1K-305.8K-10.3K
Net VEX-1.0K-1.2K-939-1.1K-1.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.730.0030.500.000.00
Total Volume52.632028608
Total OI2,049.6841,7762,3241,8002,006

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-09-04$5.14$3.7556.0%16.1%32.8%0.0%0.0%1.1%-0.1%5.0K-305.8K-1.1K0.0041.23N/AN/A001,312488
2007-09-05$5.20$3.7550.5%14.5%32.2%0.0%0.0%1.9%4.7%5.1K-329.0K-1.0K0.0037.62N/AN/A1401,312488
2007-09-06$5.11$3.7549.6%14.2%33.0%0.0%0.0%-0.8%3.5%5.1K-312.7K-1.0K7.5030.17N/AN/A8601,326488
2007-09-07$4.62$3.7547.7%15.8%49.0%0.0%0.0%14.6%-0.7%3.8K-121.7K-9420.3860.15N/AN/A52201,326548
2007-09-10$4.47$3.7558.2%16.8%50.1%0.0%0.0%6.7%-4.2%3.6K-84.6K-9391.4758.22N/AN/A1161701,354568
2007-09-11$4.33$3.7559.8%17.9%51.0%0.0%53.7%6.3%-6.2%3.0K-27.7K-1.1K30.5041.63N/AN/A41221,454738
2007-09-12$4.33$3.7556.2%17.8%51.0%0.0%0.0%8.0%-5.9%2.2K-6.0K-1.2K0.0038.25N/AN/A1001,454858
2007-09-13$4.34$3.7563.6%18.2%51.1%0.0%0.0%8.9%-4.9%2.3K-7.4K-1.2K0.0038.69N/AN/A001,464858
2007-09-14$4.35$3.7562.5%17.9%50.5%0.0%0.0%9.3%-5.9%2.2K-5.7K-1.2K0.0052.25N/AN/A201,464858
2007-09-17$4.22$3.7550.9%14.6%50.1%0.0%0.0%9.8%18.2%2.6K-2.0K-1.1K0.0043.11N/AN/A0301,466858
2007-09-18$4.14$3.7561.9%17.8%49.9%0.0%47.3%22.7%-4.9%2.5K442-1.1K0.0057.99N/AN/A6001,466824
2007-09-19$4.13$3.7557.6%16.5%49.9%0.0%0.0%17.0%-2.8%2.0K8.5K-9970.0051.24N/AN/A3201,466776
2007-09-20$4.12$3.7554.5%15.6%41.5%0.0%0.0%15.8%4.8%2.4K-1.7K-9890.0055.55N/AN/A0301,454776
2007-09-21$4.16$3.7558.5%16.8%42.2%0.0%0.0%18.8%-1.0%502-8.1K-9740.0056.73N/AN/A1201,454776
2007-09-24$4.12$3.7562.6%18.0%41.6%0.0%0.0%18.6%-4.3%46448.4K-9600.8353.05N/AN/A24201,062714
2007-09-25$4.11$3.7559.6%17.1%41.6%0.0%0.0%15.6%-1.1%40757.1K-9670.0056.85N/AN/A3201,086734
2007-09-26$4.05$3.7552.7%15.1%41.6%0.0%0.0%15.2%12.2%39756.8K-9610.0058.33N/AN/A401,098734
2007-09-27$4.21$3.7553.1%15.2%43.7%0.0%46.3%16.6%12.7%58746.1K-1.0K0.2161.36N/AN/A140301,102734
2007-09-28$4.24$3.7555.4%15.9%44.1%0.0%0.0%20.2%13.3%1.7K-10.3K-1.1K0.0060.64N/AN/A801,242764