LOW Options History — September 2008

In September 2008, LOW traded between $22.69 and $27.36. ATM implied volatility averaged 49.0%, placing in the 70.9% IV rank vs the trailing year. The 30-day expected move averaged 14.1%. IV traded below realized volatility by 7.7% (HV 20d: 56.7%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.93.

Notable Days

  • 2008-09-02: Highest Volume — 22,818 contracts
  • 2008-09-29: Largest IV spike — 41.8% change
  • 2008-09-17: Highest IV Rank — 100.0%
  • 2008-09-29: Largest Expected Move — 20.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.80$22.69$27.36$26.33$23.69
Max Pain$23.21$22.50$25.00$22.50$25.00
ATM IV49.0%32.1%71.1%32.5%60.7%
Expected Move14.1%9.2%20.4%9.3%17.4%
HV 20d56.7%46.5%70.1%50.6%66.5%
HV 60d51.2%46.4%56.5%46.4%56.5%
IV Rank70.9%24.2%100.0%25.5%77.9%
IV Percentile83.7%19.0%100.0%23.4%99.6%
Term Structure-1.9%-8.7%3.2%3.2%-3.2%
VWIV49.2%34.1%70.9%37.3%56.7%
Skew 25d8.7%5.6%12.0%8.6%6.3%
Skew 10d18.5%6.8%31.0%22.7%6.8%
Call IV 25d45.4%27.3%64.4%31.0%56.0%
Put IV 25d54.1%38.9%76.4%39.6%62.3%
Bid-Ask Spread %12.675.8021.425.8014.35
Gamma HHI0.270.170.360.330.18
Net GEX3.5M642.9K5.9M5.6M1.0M
Net DEX-78.0M-248.1M44.7M-188.2M4.4M
Net VEX-1.8M-2.0M-1.6M-1.9M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.930.323.440.771.18
Total Volume11,951.8572,54222,81822,8182,542
Total OI408,744.333368,909439,184402,471374,812

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-09-02$26.33$22.5032.5%9.3%50.6%25.5%37.3%8.6%3.2%5.6M-188.2M-1.9M0.775.80N/AN/A12,8889,930231,607170,864
2008-09-03$26.71$22.5032.1%9.2%48.9%24.2%34.1%11.6%3.2%5.3M-211.5M-1.9M0.335.92N/AN/A10,0103,282234,374176,944
2008-09-04$25.77$22.5039.6%11.3%51.2%47.6%37.9%7.3%0.7%5.3M-152.5M-1.9M0.6717.01N/AN/A2,9281,953238,008178,357
2008-09-05$25.75$22.5038.7%11.6%50.6%44.9%40.1%7.5%1.1%5.3M-146.1M-1.9M3.4410.95N/AN/A4,42515,236238,172178,321
2008-09-08$27.36$22.5039.6%11.2%46.5%47.6%39.2%9.6%0.7%5.1M-248.1M-2.0M0.6312.95N/AN/A12,3907,841239,121187,212
2008-09-09$25.65$22.5046.2%13.0%51.4%68.4%44.7%7.8%-2.0%5.2M-145.6M-1.9M0.617.16N/AN/A8,9215,410244,022187,258
2008-09-10$25.23$22.5044.9%12.8%51.8%64.2%44.2%8.2%-0.9%5.3M-113.2M-1.9M0.9412.13N/AN/A3,4263,226247,667186,900
2008-09-11$25.28$22.5043.6%12.5%49.2%60.1%42.9%8.9%-0.6%5.8M-113.1M-1.9M1.0214.16N/AN/A3,8423,919246,674186,820
2008-09-12$25.42$22.5044.8%12.9%48.2%64.0%43.3%9.3%-1.1%5.9M-121.5M-1.9M0.329.60N/AN/A6,5872,096247,105187,830
2008-09-15$24.52$22.5050.4%14.5%49.1%81.5%50.7%10.3%-4.2%4.6M-68.2M-1.8M0.567.83N/AN/A13,2417,481246,093187,950
2008-09-16$24.40$22.5050.7%14.5%49.1%82.3%51.2%10.3%-3.3%4.1M-53.6M-1.8M0.3918.65N/AN/A14,8045,770248,008191,176
2008-09-17$22.69$22.5057.9%16.6%54.7%100.0%59.2%7.7%-7.5%918.8K44.7M-1.6M0.8510.00N/AN/A9,9518,465246,006189,479
2008-09-18$24.07$22.5052.1%14.9%58.5%82.7%54.0%8.4%-5.8%3.4M-28.0M-1.8M0.5317.60N/AN/A8,0244,253242,088189,020
2008-09-19$25.53$22.5054.1%15.5%62.1%88.5%53.7%10.6%-7.3%3.9M-135.2M-1.8M0.5611.58N/AN/A12,1376,809237,019187,499
2008-09-22$23.79$22.5055.0%15.8%67.1%91.2%56.6%8.6%-2.3%1.2M-297.4K-1.7M0.8519.24N/AN/A8,7237,446201,235167,674
2008-09-23$23.62$25.0059.1%16.9%66.3%100.0%56.6%9.4%-3.2%1.1M10.3M-1.7M1.0113.86N/AN/A2,3542,384204,875170,616
2008-09-24$23.67$25.0057.2%16.4%66.0%94.5%51.9%9.6%-2.1%954.2K12.1M-1.7M0.3716.19N/AN/A3,2431,200200,041171,801
2008-09-25$23.88$25.0048.8%14.0%66.1%70.4%56.9%6.1%1.7%1.1M3.2M-1.7M2.438.05N/AN/A1,6724,071200,493171,838
2008-09-26$24.46$25.0050.1%14.4%66.5%74.3%51.5%5.6%0.9%1.4M-17.5M-1.7M0.8711.66N/AN/A2,3122,022200,369173,477
2008-09-29$22.96$25.0071.1%20.4%70.1%100.0%70.9%12.0%-8.7%642.9K30.1M-1.6M1.2721.42N/AN/A1,6662,109201,181173,625
2008-09-30$23.69$25.0060.7%17.4%66.5%77.9%56.7%6.3%-3.2%1.0M4.4M-1.6M1.1814.35N/AN/A1,1681,374201,422173,390