LOW Options History — December 2008

In December 2008, LOW traded between $19.00 and $22.98. ATM implied volatility averaged 64.4%, placing in the 43.2% IV rank vs the trailing year. The 30-day expected move averaged 18.4%. IV traded below realized volatility by 14.0% (HV 20d: 78.5%). Max pain ranged from $20.00 to $25.00. Net GEX was positive for 11 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 0.75.

Notable Days

  • 2008-12-04: Highest Volume — 30,769 contracts
  • 2008-12-30: Largest IV drop — 17.9% change
  • 2008-12-01: Highest IV Rank — 61.4%
  • 2008-12-01: Largest Expected Move — 23.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.68$19.00$22.98$19.00$21.52
Max Pain$24.09$20.00$25.00$20.00$25.00
ATM IV64.4%47.7%81.3%81.3%47.7%
Expected Move18.4%13.7%23.3%23.3%13.7%
HV 20d78.5%48.5%94.4%91.8%48.5%
HV 60d82.2%79.4%84.5%83.7%79.4%
IV Rank43.2%25.2%61.4%61.4%25.2%
IV Percentile79.9%66.7%90.1%90.1%66.7%
Term Structure1.8%-1.8%7.9%-1.8%7.9%
VWIV65.8%53.8%81.1%81.1%54.2%
Skew 25d15.9%9.9%21.4%21.2%10.8%
Skew 10d33.5%20.1%49.9%44.7%20.9%
Call IV 25d58.8%47.5%78.4%78.4%47.5%
Put IV 25d74.7%58.3%99.5%99.5%58.3%
Bid-Ask Spread %10.865.1513.5312.248.30
Gamma HHI0.210.150.440.240.17
Net GEX349.6K-721.9K2.5M-721.9K-36.4K
Net DEX51.6M-17.5M118.7M118.7M89.3M
Net VEX-1.2M-1.4M-979.5K-1.1M-990.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.332.120.590.80
Total Volume9,490.0911,20730,7699,1439,698
Total OI410,807.864378,592438,750390,662389,055

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-12-01$19.00$20.0081.3%23.3%91.8%61.4%81.1%21.2%-1.8%-721.9K118.7M-1.1M0.5912.24N/AN/A5,7443,399184,423206,239
2008-12-02$19.75$20.0076.5%21.9%91.8%56.2%77.2%20.2%0.7%-476.8K102.8M-1.1M0.4111.52N/AN/A4,9382,017186,218205,889
2008-12-03$21.26$20.0070.3%20.1%94.4%49.5%80.8%21.4%1.2%-163.8K59.1M-1.2M1.2413.30N/AN/A10,03312,411186,967206,553
2008-12-04$21.48$20.0075.8%21.7%92.4%55.5%77.3%18.4%-1.6%-143.5K49.3M-1.3M0.3311.89N/AN/A23,1907,579190,968211,917
2008-12-05$22.34$25.0071.6%20.5%89.0%51.0%77.1%18.5%-1.4%340.6K9.8M-1.4M0.8312.53N/AN/A9,4457,886202,429216,223
2008-12-08$22.86$25.0075.0%20.2%88.8%54.7%68.9%16.6%-0.2%601.4K-9.5M-1.4M0.7210.56N/AN/A4,8763,523207,272219,701
2008-12-09$22.09$25.0071.2%19.4%89.8%50.5%65.4%17.2%0.6%362.4K27.2M-1.3M0.8013.52N/AN/A7,7196,200208,471221,472
2008-12-10$22.79$25.0067.3%19.6%89.7%46.3%66.8%16.2%-1.0%714.5K-656.2K-1.4M0.6713.53N/AN/A3,0052,001213,975222,429
2008-12-11$21.52$25.0067.5%19.4%91.3%46.6%70.6%16.2%0.8%470.5K42.7M-1.3M1.1212.69N/AN/A4,3934,926213,861220,328
2008-12-12$21.99$25.0067.2%19.3%88.3%46.2%68.5%17.6%0.5%787.6K23.3M-1.3M0.3413.15N/AN/A4,1661,406214,879220,869
2008-12-15$21.94$25.0067.8%19.5%82.6%46.9%65.9%17.3%0.8%678.6K26.7M-1.2M0.7512.40N/AN/A2,5491,916213,536220,941
2008-12-16$22.54$25.0063.4%18.2%82.0%42.1%74.0%14.7%3.1%1.0M6.1M-1.2M1.0510.69N/AN/A5,1065,352213,685220,731
2008-12-17$22.98$25.0060.6%17.4%82.1%39.1%60.5%11.9%4.5%1.5M-17.5M-1.3M0.368.67N/AN/A4,3911,595216,527220,634
2008-12-18$22.70$25.0057.9%16.6%78.7%36.2%57.6%9.9%5.2%1.7M-5.8M-1.2M0.469.43N/AN/A3,5451,634217,177220,652
2008-12-19$22.54$25.0054.0%15.5%73.1%32.0%60.6%14.0%7.1%2.5M23.4M-1.1M0.487.20N/AN/A11,0955,341218,095220,655
2008-12-22$21.35$25.0053.8%15.4%77.0%31.8%61.5%15.5%3.5%-82.4K89.7M-1.1M2.129.19N/AN/A3,3847,187191,679186,913
2008-12-23$21.11$25.0059.7%17.1%64.1%38.1%57.5%14.2%1.3%-288.8K98.9M-1.0M0.609.53N/AN/A3,0771,836192,484190,986
2008-12-24$21.24$25.0059.8%17.1%61.5%38.2%53.8%13.6%-0.2%-231.5K95.3M-1.0M0.8811.63N/AN/A643564193,112191,591
2008-12-26$21.13$25.0059.1%17.0%60.2%37.5%55.1%15.7%0.3%-337.2K104.8M-1.0M0.7411.00N/AN/A803592193,230192,247
2008-12-29$21.25$25.0060.4%17.3%59.2%38.9%56.0%15.0%1.9%-315.7K104.4M-982.1K0.6210.78N/AN/A3,0681,898193,196192,502
2008-12-30$21.52$25.0049.6%14.2%50.0%27.2%58.0%13.9%6.6%-154.0K97.3M-979.5K0.485.15N/AN/A3,1331,518194,285192,777
2008-12-31$21.52$25.0047.7%13.7%48.5%25.2%54.2%10.8%7.9%-36.4K89.3M-990.1K0.808.30N/AN/A5,3894,309196,110192,945