IWC Options History — February 2007

In February 2007, IWC traded between $58.45 and $61.32. ATM implied volatility averaged 15.1%. The 30-day expected move averaged 4.5%. IV traded above realized volatility by 3.5% (HV 20d: 11.6%). Max pain ranged from $55.00 to $58.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 0.92.

Notable Days

  • 2007-02-23: Highest Volume — 50 contracts
  • 2007-02-27: Largest IV spike — 211.2% change
  • 2007-02-27: Largest Expected Move — 11.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$60.03$58.45$61.32$59.62$58.47
Max Pain$55.47$55.00$58.00$58.00$57.00
ATM IV15.1%12.1%41.6%12.2%18.5%
Expected Move4.5%3.5%11.9%3.5%5.3%
HV 20d11.6%8.3%16.4%13.6%16.1%
Term Structure1.5%-5.7%2.7%2.5%0.1%
VWIV17.6%12.3%40.7%14.1%14.3%
Skew 25d4.1%1.5%10.2%6.6%6.4%
Skew 10d6.3%-1.5%29.4%4.1%14.0%
Call IV 25d15.0%7.8%58.0%7.8%13.5%
Put IV 25d19.1%13.8%68.2%14.4%19.9%
Bid-Ask Spread %89.5276.18153.8196.8486.83
Gamma HHI0.330.260.360.330.27
Net GEX7.8K-6.2K24.8K-5.0K-6.2K
Net DEX-854.8K-1.3M-234.3K-710.7K-374.6K
Net VEX-6.9K-8.1K-6.1K-7.3K-7.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.920.0011.000.0011.00
Total Volume10.368050812
Total OI729.789684775728771

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-02-01$59.62$58.0012.2%3.5%13.6%0.0%14.1%6.6%2.5%-5.0K-710.7K-7.3K0.0096.84N/AN/A08319409
2007-02-02$59.79$55.0012.2%4.2%13.6%0.0%14.7%3.8%2.1%856-744.3K-7.2K0.0076.18N/AN/A40319401
2007-02-05$59.63$55.0012.3%4.2%11.5%0.0%0.0%4.0%2.5%860-725.3K-7.2K0.0076.44N/AN/A80322401
2007-02-06$59.72$55.0012.4%4.3%11.4%0.0%0.0%4.3%2.0%5.5K-785.0K-7.2K0.0077.50N/AN/A00330401
2007-02-07$60.19$55.0012.8%4.2%11.6%0.0%17.6%3.4%1.7%6.5K-930.0K-6.8K0.0083.12N/AN/A10330401
2007-02-08$60.26$55.0014.4%4.1%11.6%0.0%0.0%3.1%2.1%7.2K-954.1K-6.7K0.0083.38N/AN/A00330401
2007-02-09$59.76$55.0014.5%4.1%11.5%0.0%0.0%4.0%1.6%6.4K-835.2K-6.9K0.0080.37N/AN/A00330401
2007-02-12$59.54$55.0014.7%4.2%11.6%0.0%0.0%4.0%1.8%6.2K-826.5K-6.8K0.0080.56N/AN/A10330401
2007-02-13$59.99$55.0015.0%4.3%11.8%0.0%0.0%3.7%1.7%7.1K-895.5K-6.7K0.0083.33N/AN/A230331401
2007-02-14$60.00$55.0015.0%4.3%11.7%0.0%0.0%4.0%1.6%4.9K-838.0K-6.7K0.0083.51N/AN/A00326401
2007-02-15$60.05$55.0014.9%4.3%10.3%0.0%0.0%4.4%2.0%13.0K-839.8K-6.7K0.0083.60N/AN/A30326401
2007-02-16$60.24$55.0013.7%3.9%10.2%0.0%0.0%3.5%2.5%12.1K-944.9K-6.5K0.0087.81N/AN/A80329401
2007-02-20$60.93$55.0012.5%3.6%10.1%0.0%0.0%2.2%1.8%15.7K-1.0M-6.2K0.0091.86N/AN/A10327357
2007-02-21$60.94$55.0012.3%3.5%10.0%0.0%12.3%1.9%2.2%15.3K-1.1M-6.1K0.0094.05N/AN/A440328357
2007-02-22$61.32$55.0012.3%3.5%9.8%0.0%14.0%1.5%2.2%24.8K-1.3M-6.7K0.0095.34N/AN/A200372357
2007-02-23$60.95$55.0012.1%3.5%8.3%0.0%13.5%3.1%2.7%24.6K-1.1M-6.8K0.0094.25N/AN/A050358357
2007-02-26$60.73$57.0013.4%3.8%8.6%0.0%0.0%3.0%1.2%11.9K-1.1M-6.9K0.0092.10N/AN/A010358407
2007-02-27$58.45$57.0041.6%11.9%16.4%0.0%40.7%10.2%-5.7%-3.9K-234.3K-8.1K0.00153.81N/AN/A40358417
2007-02-28$58.47$57.0018.5%5.3%16.1%0.0%14.3%6.4%0.1%-6.2K-374.6K-7.7K11.0086.83N/AN/A111354417