PCEF Options History — July 2011

In July 2011, PCEF traded between $25.06 and $26.33. ATM implied volatility averaged 22.2%, placing in the 23.5% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 13.8% (HV 20d: 8.4%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 1 of 20 days.

Notable Days

  • 2011-07-25: Highest Volume — 50 contracts
  • 2011-07-18: Largest IV spike — 713.9% change
  • 2011-07-18: Highest IV Rank — 100.0%
  • 2011-07-18: Largest Expected Move — 23.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.90$25.06$26.33$26.22$25.06
Max Pain$26.00$25.00$30.00$30.00$25.00
ATM IV22.2%10.2%82.6%20.4%13.1%
Expected Move4.7%2.9%23.7%5.9%3.8%
HV 20d8.4%6.3%10.1%10.1%9.0%
HV 60d7.6%7.2%8.5%7.2%8.5%
IV Rank23.5%2.2%100.0%16.0%6.1%
IV Percentile57.8%5.2%100.0%93.3%36.1%
Term Structure-2.9%-19.5%1.1%-7.1%-1.9%
VWIV14.0%13.3%14.6%14.6%13.3%
Skew 25d-3.1%-16.1%63.7%-13.3%-11.2%
Skew 10d-0.4%-24.5%13.9%-5.7%-20.4%
Call IV 25d20.2%12.5%51.8%29.7%29.2%
Put IV 25d17.0%7.6%115.5%16.4%18.0%
Bid-Ask Spread %95.9272.39155.84105.4888.21
Gamma HHI0.990.921.000.970.99
Net GEX-24.0K-49.1K-6.6K-13.2K-49.1K
Net DEX153.0K62.8K309.3K146.3K309.3K
Net VEX-731-882-388-858-882
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume6.1050020
Total OI177.9163255170255

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-07-01$26.22$30.0020.4%5.9%10.1%16.0%0.0%-13.3%-7.1%-13.2K146.3K-8580.00105.48N/AN/A0014156
2011-07-05$26.20$0.0020.5%3.4%9.9%16.2%0.0%-4.9%-1.1%-15.0K138.9K-8230.0095.02N/AN/A0014156
2011-07-06$26.19$0.0023.6%3.7%9.9%20.3%0.0%-5.7%-1.2%-13.7K147.2K-8350.0095.02N/AN/A0014156
2011-07-07$26.33$0.0027.3%4.0%9.9%25.3%0.0%-5.7%-1.6%-12.7K142.4K-8200.0094.75N/AN/A0014156
2011-07-08$26.27$0.0028.7%4.0%9.9%46.3%0.0%-5.8%-1.7%-12.9K146.4K-8220.0094.82N/AN/A0013156
2011-07-11$26.08$0.0032.2%3.7%9.6%54.4%0.0%-3.8%-1.7%-14.6K153.6K-8030.0095.26N/AN/A0013156
2011-07-12$26.08$0.0036.0%3.8%9.2%63.2%0.0%0.0%-1.8%-14.7K153.3K-7980.0095.26N/AN/A0013156
2011-07-13$26.09$0.0040.9%3.8%9.0%74.5%0.0%-4.0%-1.8%-15.0K155.6K-7800.0095.26N/AN/A0011156
2011-07-14$25.97$0.0010.4%3.0%7.0%4.3%0.0%0.5%-1.1%-22.9K126.5K-7200.0086.84N/AN/A0011156
2011-07-15$25.88$0.0010.2%2.9%6.9%3.7%0.0%-6.5%-0.8%-28.6K92.3K-4700.0095.95N/AN/A009156
2011-07-18$25.72$0.0082.6%23.7%7.4%100.0%0.0%63.7%-19.5%-6.6K164.5K-7890.00155.84N/AN/A009154
2011-07-19$25.84$0.0010.2%2.9%7.5%2.2%0.0%-6.8%1.1%-24.0K138.5K-6600.0096.16N/AN/A009154
2011-07-20$25.91$0.0010.7%3.1%6.3%3.0%0.0%-4.7%-1.0%-28.9K78.1K-4530.0095.95N/AN/A009154
2011-07-21$26.06$0.0013.0%3.7%6.6%6.0%0.0%-6.5%-1.5%-21.0K123.7K-6310.0095.32N/AN/A009154
2011-07-22$26.06$0.0011.6%3.3%6.5%4.2%0.0%-4.9%-1.3%-25.2K62.8K-3880.0095.48N/AN/A009154
2011-07-25$25.78$0.0014.3%4.1%7.5%7.8%14.6%-1.5%-2.6%-27.1K122.8K-6760.0081.36N/AN/A0509154
2011-07-26$25.73$25.0010.9%3.1%7.5%3.1%0.0%-7.8%-6.8%-42.7K154.6K-7610.0096.65N/AN/A009204
2011-07-27$25.32$25.0013.3%3.8%9.2%6.4%13.3%-14.4%-2.9%-48.6K241.6K-8390.0087.42N/AN/A0109204
2011-07-28$25.20$25.0013.8%4.0%9.0%7.1%0.0%-16.1%-1.9%-44.2K261.4K-8110.0072.39N/AN/A0429204
2011-07-29$25.06$25.0013.1%3.8%9.0%6.1%0.0%-11.2%-1.9%-49.1K309.3K-8820.0088.21N/AN/A0209246