L Options History — May 2015

In May 2015, L traded between $40.03 and $41.71. ATM implied volatility averaged 16.0%, placing in the 17.6% IV rank vs the trailing year. The 30-day expected move averaged 4.4%. IV traded above realized volatility by 4.4% (HV 20d: 11.6%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 1.55.

Notable Days

  • 2015-05-07: Highest Volume — 273 contracts
  • 2015-05-12: Largest IV spike — 52.9% change
  • 2015-05-12: Highest IV Rank — 41.3%
  • 2015-05-01: Largest Expected Move — 4.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$40.92$40.03$41.71$41.71$40.14
Max Pain$40.00$40.00$40.00$40.00$40.00
ATM IV16.0%13.5%27.1%16.4%15.8%
Expected Move4.4%4.1%4.7%4.7%4.5%
HV 20d11.6%9.9%13.0%12.8%10.7%
HV 60d15.0%14.5%15.4%15.4%14.5%
IV Rank17.6%11.6%41.3%18.0%17.8%
IV Percentile38.0%17.5%91.3%50.8%42.9%
Term Structure0.4%-0.9%2.7%2.7%-0.9%
VWIV15.4%14.0%16.5%16.4%16.2%
Skew 25d4.9%-3.2%26.5%2.1%-1.1%
Skew 10d15.6%-2.6%89.6%5.7%-0.7%
Call IV 25d14.2%10.6%20.7%17.4%20.7%
Put IV 25d19.1%15.0%43.6%19.5%19.5%
Bid-Ask Spread %101.7090.78114.42102.76109.54
Gamma HHI0.570.450.740.630.53
Net GEX45.7K-63.9K83.8K82.6K54.9K
Net DEX-546.4K-1.2M-7.4K-1.2M-7.4K
Net VEX-9.2K-12.4K-6.6K-12.4K-6.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.550.613.461.290.88
Total Volume1407273133173
Total OI2,123.451,9012,3322,2921,907

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2015-05-01$41.71$40.0016.4%4.7%12.8%18.0%16.4%2.1%2.7%82.6K-1.2M-12.4K1.29102.7658751,434858
2015-05-04$41.67$40.0015.1%4.5%12.4%15.1%0.0%5.1%0.9%83.8K-1.2M-11.6K2.78114.4218501,438856
2015-05-05$41.27$40.0013.5%4.5%12.8%11.6%15.4%-3.2%0.2%57.5K-1.0M-11.4K3.4698.03351211,445877
2015-05-06$41.05$40.0016.1%4.5%12.8%17.4%15.5%4.1%0.2%31.6K-774.1K-10.7K2.7690.78451241,442877
2015-05-07$41.25$40.0017.9%4.6%13.0%21.3%16.1%5.1%0.2%51.5K-943.9K-11.3K0.9697.081391341,452880
2015-05-08$41.42$40.0014.8%4.5%12.8%14.5%0.0%5.0%0.9%49.4K-856.1K-10.5K0.0097.72071,350888
2015-05-11$41.15$40.0017.7%4.5%12.6%20.9%14.0%4.5%0.4%25.3K-686.3K-9.8K0.0095.370101,350893
2015-05-12$40.97$40.0027.1%4.4%12.7%41.3%15.9%14.0%1.1%-957-569.5K-10.3K2.18105.20621351,351895
2015-05-13$40.56$40.0015.0%4.3%10.8%14.9%15.0%4.6%1.0%-63.9K-264.0K-9.3K2.33101.24581351,353895
2015-05-14$40.87$40.0015.5%4.4%11.3%16.0%15.5%16.1%0.4%-4.9K-426.6K-8.9K2.33101.41581351,350895
2015-05-15$40.66$40.0015.0%4.3%11.2%15.8%14.9%1.7%0.5%51.1K-476.5K-8.5K2.33100.57581351,350895
2015-05-18$41.05$40.0014.9%4.3%11.8%15.7%14.9%1.8%0.3%57.7K-390.8K-8.5K0.61105.2023141,289673
2015-05-19$41.10$40.0015.8%4.5%10.4%17.6%15.8%1.6%-0.2%69.3K-488.9K-8.5K0.71113.8717121,300663
2015-05-20$41.18$40.0014.9%4.3%10.3%15.8%15.1%1.8%0.1%71.6K-507.6K-8.3K1.17101.9460701,289656
2015-05-21$41.05$40.0014.7%4.2%9.9%15.3%15.2%3.6%0.3%67.6K-482.0K-8.4K0.7399.0288641,286660
2015-05-22$40.71$40.0014.3%4.1%10.2%14.2%14.3%0.4%0.4%60.8K-405.1K-8.0K1.28105.13881131,308658
2015-05-26$40.03$40.0014.8%4.3%11.6%15.5%15.1%1.2%0.1%58.3K-60.0K-7.1K0.68101.8788601,308616
2015-05-27$40.26$40.0014.8%4.2%10.7%15.4%15.1%2.8%-0.2%55.0K-55.4K-6.8K0.6792.61103691,308623
2015-05-28$40.35$40.0015.5%4.4%10.8%17.1%16.5%26.5%-0.5%54.8K-42.1K-6.6K0.80100.2492741,284617
2015-05-29$40.14$40.0015.8%4.5%10.7%17.8%16.2%-1.1%-0.9%54.9K-7.4K-6.6K0.88109.5492811,285622