IWC Options History — September 2012

In September 2012, IWC traded between $50.85 and $53.77. ATM implied volatility averaged 16.7%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 4.8%. IV traded above realized volatility by 6.6% (HV 20d: 10.1%). Max pain ranged from $49.00 to $52.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 2.29.

Notable Days

  • 2012-09-14: Highest Volume — 36 contracts
  • 2012-09-19: Largest IV spike — 62.3% change
  • 2012-09-19: Highest IV Rank — 28.6%
  • 2012-09-19: Largest Expected Move — 7.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$52.72$50.85$53.77$50.85$52.84
Max Pain$50.74$49.00$52.00$50.00$52.00
ATM IV16.7%11.6%26.3%18.5%16.1%
Expected Move4.8%3.3%7.5%5.3%4.6%
HV 20d10.1%9.2%11.4%9.2%11.0%
HV 60d15.6%14.0%17.4%17.4%14.1%
IV Rank8.8%0.0%28.6%12.4%9.1%
IV Percentile7.4%0.0%65.9%7.9%3.6%
Term Structure1.6%-16.7%6.9%1.8%2.0%
VWIV17.0%14.4%19.7%19.7%14.4%
Skew 25d4.5%0.7%9.6%6.0%4.0%
Skew 10d4.6%-2.8%16.6%9.9%4.1%
Call IV 25d15.5%9.6%46.2%15.6%11.6%
Put IV 25d20.0%12.9%55.8%21.6%15.6%
Bid-Ask Spread %95.7538.44182.9766.66129.20
Gamma HHI0.310.150.550.200.16
Net GEX59.5K15.0K109.5K41.5K16.5K
Net DEX-612.9K-917.3K-273.5K-423.7K-279.9K
Net VEX-2.0K-2.2K-1.8K-2.2K-2.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.290.0015.000.000.00
Total Volume7.26303600
Total OI389.421251479411256

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-09-04$50.85$50.0018.5%5.3%9.2%12.4%0.0%6.0%1.8%41.5K-423.7K-2.2K0.0066.66N/AN/A00268143
2012-09-05$51.03$50.0019.0%5.5%9.3%13.5%19.7%7.2%1.3%45.5K-457.1K-2.2K0.0072.70N/AN/A50268143
2012-09-06$51.78$50.0016.0%4.6%10.2%7.2%0.0%5.0%1.9%66.8K-611.1K-2.1K0.0062.24N/AN/A10267143
2012-09-07$52.05$49.0014.2%4.9%10.2%3.5%0.0%3.3%2.8%77.3K-672.4K-1.9K0.0038.46N/AN/A00268143
2012-09-10$51.90$49.0016.6%5.0%10.3%8.4%0.0%4.7%2.4%73.0K-633.4K-1.9K0.0044.24N/AN/A00267143
2012-09-11$52.10$49.0018.0%5.2%10.1%11.3%0.0%4.7%2.1%75.0K-691.9K-1.9K0.0038.44N/AN/A00267143
2012-09-12$52.35$49.0018.4%5.3%9.7%12.2%0.0%4.2%1.3%82.7K-753.9K-1.8K3.3344.40N/AN/A310267143
2012-09-13$53.12$49.0016.9%4.8%10.3%9.0%0.0%0.7%2.2%82.2K-894.4K-1.8K15.00120.14N/AN/A230270153
2012-09-14$53.55$49.0017.0%4.9%10.1%9.2%17.0%0.7%1.1%82.4K-901.1K-1.9K0.00103.12N/AN/A036272183
2012-09-17$53.40$52.0017.0%4.9%10.1%9.2%0.0%7.6%2.3%95.9K-810.3K-2.2K0.0099.02N/AN/A00270207
2012-09-18$53.47$52.0016.2%4.6%10.0%7.6%0.0%7.6%2.8%99.7K-834.7K-2.1K0.00104.84N/AN/A60270207
2012-09-19$53.50$52.0026.3%7.5%9.8%28.6%0.0%9.6%-16.7%31.7K-682.8K-2.1K0.00182.97N/AN/A20270207
2012-09-20$53.36$52.0016.6%4.8%9.7%8.4%0.0%2.6%2.8%109.5K-806.2K-2.1K0.00117.01N/AN/A50271207
2012-09-21$53.77$52.0012.6%3.6%9.2%0.0%14.4%5.2%5.5%82.8K-917.3K-2.0K0.00114.65N/AN/A330272207
2012-09-24$53.64$52.0014.1%4.0%9.4%3.2%0.0%6.7%2.5%15.0K-359.4K-2.0K0.00110.27N/AN/A0016091
2012-09-25$53.02$52.0015.3%4.4%10.8%5.8%0.0%1.7%2.7%16.4K-310.9K-2.0K0.00112.29N/AN/A0016091
2012-09-26$52.74$52.0016.5%4.7%11.2%8.2%0.0%3.9%1.6%16.9K-273.5K-2.0K0.00112.13N/AN/A0016091
2012-09-27$53.24$52.0011.6%3.3%11.4%0.0%0.0%0.8%6.9%19.1K-331.6K-1.9K0.00146.42N/AN/A0516091
2012-09-28$52.84$52.0016.1%4.6%11.0%9.1%0.0%4.0%2.0%16.5K-279.9K-2.0K0.00129.20N/AN/A0016096