IWC Options History — November 2008

In November 2008, IWC traded between $25.31 and $35.65. ATM implied volatility averaged 74.0%, placing in the 41.5% IV rank vs the trailing year. The 30-day expected move averaged 18.6%. IV traded above realized volatility by 2.5% (HV 20d: 71.5%). Max pain ranged from $37.00 to $38.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.00.

Notable Days

  • 2008-11-11: Highest Volume — 54 contracts
  • 2008-11-20: Largest IV spike — 99.2% change
  • 2008-11-12: Highest IV Rank — 100.0%
  • 2008-11-20: Largest Expected Move — 35.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$30.56$25.31$35.65$35.55$30.65
Max Pain$37.79$37.00$38.00$37.00$38.00
ATM IV74.0%45.9%156.0%48.4%55.0%
Expected Move18.6%13.0%35.0%13.9%15.8%
HV 20d71.5%63.4%85.0%85.0%72.5%
HV 60d63.0%58.2%69.2%58.5%69.2%
IV Rank41.5%21.7%100.0%23.5%27.6%
IV Percentile89.8%80.6%100.0%81.7%81.0%
Term Structure-8.7%-92.2%27.4%-1.2%25.8%
VWIV119.0%119.0%119.0%119.0%119.0%
Skew 25d15.3%-40.4%58.9%2.9%52.5%
Skew 10d19.6%-40.4%58.9%7.7%52.3%
Call IV 25d57.3%27.9%142.2%45.9%28.7%
Put IV 25d72.5%45.3%101.8%48.7%81.2%
Bid-Ask Spread %111.42100.57118.20105.87114.15
Gamma HHI0.390.270.660.310.40
Net GEX2.5K6824.9K4.9K3.8K
Net DEX-16.8K-62.8K22.9K-26.3K-62.8K
Net VEX-539-802-334-561-457
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.000.000.00
Total Volume5.94705400
Total OI209.474182238182194

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-11-03$35.55$37.0048.4%13.9%85.0%23.5%0.0%2.9%-1.2%4.9K-26.3K-5610.00105.87N/AN/A0014636
2008-11-04$35.65$37.0045.9%13.2%81.7%21.7%0.0%2.0%-2.0%4.9K-25.3K-5370.00106.61N/AN/A6014636
2008-11-05$33.84$37.0058.7%16.8%83.5%31.1%0.0%24.7%-1.3%3.3K-13.0K-5290.00118.20N/AN/A0015236
2008-11-06$32.86$37.0066.7%19.1%75.5%37.0%0.0%25.0%-6.8%2.7K-7.4K-5230.00115.97N/AN/A0015236
2008-11-07$33.40$38.0061.2%13.0%74.6%33.0%0.0%0.3%0.7%2.6K-1.8K-4850.00100.57N/AN/A0015236
2008-11-10$32.43$38.0072.9%14.4%65.2%41.6%119.0%10.3%0.9%1.8K7.1K-4520.00106.29N/AN/A1015236
2008-11-11$31.82$38.0081.9%14.4%65.0%48.2%0.0%19.1%4.5%84516.5K-4200.00109.54N/AN/A54015236
2008-11-12$29.80$38.00156.0%15.9%63.4%100.0%0.0%23.0%0.5%2.4K-21.8K-7050.00113.40N/AN/A16019836
2008-11-13$31.75$38.0049.0%14.0%63.6%23.2%0.0%13.5%1.6%3.5K-55.4K-8020.00112.77N/AN/A0020236
2008-11-14$29.65$38.0057.5%16.5%67.2%29.4%0.0%22.9%-1.2%2.5K-22.0K-7160.00113.20N/AN/A0020236
2008-11-17$29.38$38.0060.3%17.3%65.4%31.3%0.0%24.3%-1.6%2.3K-17.6K-6940.00110.10N/AN/A0020236
2008-11-18$29.03$38.0063.6%18.2%65.2%33.8%0.0%22.2%-4.8%1.5K-11.6K-6550.00112.51N/AN/A0020236
2008-11-19$26.88$38.0061.2%17.6%68.3%32.0%0.0%53.4%15.3%1.0K7.4K-5650.00109.59N/AN/A0020236
2008-11-20$25.31$38.00122.0%35.0%70.5%75.6%0.0%-40.4%-92.2%68222.9K-4840.00112.93N/AN/A6020236
2008-11-21$26.31$38.00116.6%33.4%71.7%71.8%0.0%-39.5%-86.1%87714.8K-5270.00113.72N/AN/A03020236
2008-11-24$28.00$38.0063.1%18.1%74.6%33.4%0.0%58.9%27.4%2.1K-33.3K-3430.00112.92N/AN/A001886
2008-11-25$28.30$38.00111.3%31.9%70.8%68.0%0.0%-38.0%-71.4%2.2K-32.9K-3340.00115.47N/AN/A001886
2008-11-26$29.99$38.0054.5%15.6%74.3%27.2%0.0%53.2%27.2%3.5K-56.9K-4430.00113.15N/AN/A001886
2008-11-28$30.65$38.0055.0%15.8%72.5%27.6%0.0%52.5%25.8%3.8K-62.8K-4570.00114.15N/AN/A001886