GS Options History — February 2007

In February 2007, GS traded between $196.00 and $220.94. ATM implied volatility averaged 25.5%. The 30-day expected move averaged 7.5%. IV traded above realized volatility by 2.2% (HV 20d: 23.3%). Max pain ranged from $210.00 to $220.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 4 of 19 days. Put/call ratio averaged 0.82.

Notable Days

  • 2007-02-27: Highest Volume — 133,327 contracts
  • 2007-02-08: Largest IV spike — 24.4% change
  • 2007-02-27: Largest Expected Move — 10.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$213.50$196.00$220.94$212.00$201.75
Max Pain$212.63$210.00$220.00$210.00$210.00
ATM IV25.5%19.5%36.9%20.8%32.3%
Expected Move7.5%6.0%10.6%6.0%9.3%
HV 20d23.3%15.8%36.9%24.4%36.9%
Term Structure-1.3%-7.1%3.3%3.3%-3.5%
VWIV26.6%21.1%36.6%21.1%32.7%
Skew 25d2.6%1.1%4.0%1.5%1.1%
Skew 10d5.1%1.7%8.2%2.2%1.7%
Call IV 25d25.1%20.1%37.6%20.1%32.2%
Put IV 25d27.8%21.7%38.8%21.7%33.3%
Bid-Ask Spread %12.716.1243.446.547.67
Gamma HHI0.250.100.460.210.11
Net GEX41.7M-13.5M90.2M30.8M-13.5M
Net DEX-1.50B-1.99B-177.6M-1.50B-321.4M
Net VEX-11.9M-14.7M-10.5M-10.9M-14.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.820.421.990.950.55
Total Volume42,263.42115,692133,32730,67080,696
Total OI382,213.526347,845437,217348,466424,215

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2007-02-01$212.00$210.0020.8%6.0%24.4%0.0%21.1%1.5%3.3%30.8M-1.50B-10.9M0.956.5415,75914,911177,238171,228
2007-02-02$213.43$210.0019.6%6.9%24.0%0.0%24.8%2.4%0.0%41.2M-1.64B-10.7M0.8111.678,6937,065178,156169,689
2007-02-05$212.55$210.0021.0%6.9%24.2%0.0%23.7%2.7%-0.0%37.3M-1.58B-10.6M0.5514.2210,1095,583178,047171,027
2007-02-06$214.65$210.0020.4%6.8%23.2%0.0%23.5%2.5%0.5%53.3M-1.78B-10.5M0.9015.489,9068,923183,197172,564
2007-02-07$213.55$210.0019.5%6.8%23.3%0.0%24.7%3.0%0.2%50.5M-1.70B-10.6M0.7115.6914,0609,964183,355174,557
2007-02-08$213.90$210.0024.2%6.9%22.4%0.0%24.5%2.5%-0.3%55.1M-1.71B-10.7M0.4412.2427,56412,086187,005176,232
2007-02-09$213.28$210.0026.1%7.5%21.6%0.0%26.3%2.1%-1.0%44.9M-1.62B-10.8M0.5413.6152,31928,400191,414177,753
2007-02-12$211.13$210.0026.6%7.6%21.6%0.0%26.6%1.9%-0.7%35.0M-1.45B-10.9M0.5911.5225,80615,131202,721183,917
2007-02-13$212.53$210.0025.9%7.4%21.7%0.0%26.0%2.1%-0.7%32.9M-1.59B-10.8M1.178.3310,43012,152205,053187,287
2007-02-14$217.40$210.0027.4%7.9%23.2%0.0%27.9%2.7%-2.4%90.2M-1.99B-11.0M0.4215.0048,50020,534204,423191,105
2007-02-15$216.82$210.0027.0%7.7%22.3%0.0%26.8%3.4%-2.4%84.6M-1.96B-11.1M1.9910.4918,71537,172209,444197,269
2007-02-16$216.92$210.0025.1%7.2%22.3%0.0%26.1%3.3%-1.3%72.6M-1.80B-13.0M0.6911.5411,8288,127209,907227,310
2007-02-20$220.94$210.0025.4%7.3%22.7%0.0%25.9%4.0%-1.6%43.4M-1.72B-12.4M0.768.4426,64820,187170,642183,288
2007-02-21$220.15$220.0025.5%7.3%22.8%0.0%26.5%3.9%-1.8%43.9M-1.71B-13.0M0.9113.0112,90311,700183,739194,317
2007-02-22$218.97$220.0024.9%7.1%19.3%0.0%25.8%3.3%-1.3%42.7M-1.65B-13.0M0.886.1212,26410,736187,408198,994
2007-02-23$216.50$220.0026.0%7.5%15.8%0.0%26.6%2.8%-1.5%35.4M-1.44B-13.4M1.178.2912,93915,181190,490202,309
2007-02-26$214.00$220.0030.5%8.7%16.3%0.0%30.2%3.6%-3.6%24.5M-1.21B-13.7M0.888.1717,35815,329193,782209,755
2007-02-27$196.00$220.0036.9%10.6%35.2%0.0%36.6%1.3%-7.1%-11.6M-177.6M-14.1M0.6643.4480,36252,965199,177214,043
2007-02-28$201.75$210.0032.3%9.3%36.9%0.0%32.7%1.1%-3.5%-13.5M-321.4M-14.7M0.557.6752,03228,664198,735225,480