PCEF Options History — December 2012

In December 2012, PCEF traded between $25.01 and $25.30. ATM implied volatility averaged 13.7%, placing in the 5.1% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 2.8% (HV 20d: 10.9%). Max pain ranged from $24.00 to $25.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 3 of 20 days.

Notable Days

  • 2012-12-18: Highest Volume — 2 contracts
  • 2012-12-31: Largest IV spike — 1138.6% change
  • 2012-12-31: Highest IV Rank — 64.0%
  • 2012-12-31: Largest Expected Move — 30.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.15$25.01$25.30$25.22$25.14
Max Pain$24.20$24.00$25.00$25.00$24.00
ATM IV13.7%5.8%106.0%9.8%106.0%
Expected Move3.7%1.7%30.4%2.8%30.4%
HV 20d10.9%3.7%18.5%18.5%4.2%
HV 60d11.4%11.3%11.4%11.4%11.4%
IV Rank5.1%0.1%64.0%2.6%64.0%
IV Percentile38.1%0.8%98.8%50.4%98.8%
Term Structure-3.3%-37.6%4.4%-4.0%-37.6%
Skew 25d2.3%-21.6%128.0%-20.0%128.0%
Skew 10d1.9%-30.2%135.7%-28.0%135.7%
Call IV 25d13.6%7.4%33.2%31.6%10.8%
Put IV 25d15.9%7.3%138.8%11.6%138.8%
Bid-Ask Spread %143.73122.10194.14122.98194.14
Gamma HHI0.750.320.950.870.32
Net GEX-42.1K-80.0K-2.3K-42.5K-2.3K
Net DEX145.6K59.7K196.6K173.7K59.7K
Net VEX-295-425-159-425-272
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume0.10200
Total OI160.556219519362

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-12-03$25.22$25.009.8%2.8%18.5%2.6%0.0%-20.0%-4.0%-42.5K173.7K-4250.00122.98N/AN/A009184
2012-12-04$25.22$25.0010.1%2.9%18.5%2.8%0.0%-20.5%-4.0%-42.7K172.8K-4140.00123.48N/AN/A009184
2012-12-05$25.20$25.009.8%2.8%18.4%2.6%0.0%-21.6%-4.3%-44.8K176.1K-4050.00122.98N/AN/A009184
2012-12-06$25.18$25.009.5%2.7%18.2%2.5%0.0%-20.2%-3.1%-47.3K179.2K-3970.00123.11N/AN/A009184
2012-12-07$25.16$24.009.8%2.1%18.2%2.7%0.0%-0.7%-1.0%-47.7K182.9K-3890.00153.79N/AN/A009184
2012-12-10$25.15$24.008.3%1.7%18.2%1.6%0.0%-0.5%0.9%-63.2K196.6K-3080.00122.10N/AN/A009184
2012-12-11$25.23$24.0013.6%2.2%18.2%5.1%0.0%-0.6%-1.8%-43.1K171.0K-3540.00156.46N/AN/A009184
2012-12-12$25.30$24.0014.2%2.8%18.1%5.4%0.0%-1.7%-4.3%-44.6K167.5K-3040.00155.10N/AN/A009184
2012-12-13$25.21$24.007.4%2.1%14.1%1.1%0.0%1.5%0.0%-42.3K152.9K-3460.00157.61N/AN/A009184
2012-12-14$25.05$24.007.5%2.2%10.9%1.2%0.0%1.0%-0.0%-67.1K176.5K-3350.00154.35N/AN/A009184
2012-12-17$25.05$24.007.4%2.1%7.8%1.1%0.0%0.5%-0.5%-74.3K176.4K-2920.00153.53N/AN/A009184
2012-12-18$25.09$24.007.0%2.0%5.6%0.8%0.0%-1.2%-2.1%-80.0K165.7K-2330.00125.50N/AN/A029184
2012-12-19$25.10$24.007.3%2.1%5.6%1.0%0.0%-0.7%-0.8%-68.2K163.2K-2690.00156.17N/AN/A009186
2012-12-20$25.16$24.008.3%2.4%4.9%1.7%0.0%-0.2%-2.4%-55.3K153.5K-2500.00147.71N/AN/A009186
2012-12-21$25.13$24.008.0%2.3%4.0%1.5%0.0%0.7%-0.9%-48.3K164.9K-2310.00144.53N/AN/A009186
2012-12-24$25.17$24.007.9%2.3%3.8%1.4%0.0%-0.2%-2.5%-7.0K64.3K-1770.00138.31N/AN/A00755
2012-12-26$25.15$24.005.8%1.7%3.8%0.1%0.0%2.3%4.4%-6.7K69.8K-1710.00145.65N/AN/A00755
2012-12-27$25.07$24.007.9%2.3%3.9%1.4%0.0%0.8%-0.3%-6.8K72.6K-1590.00137.10N/AN/A00755
2012-12-28$25.01$24.008.6%2.5%3.7%1.8%0.0%-0.3%-1.6%-6.9K73.6K-1600.00139.94N/AN/A00755
2012-12-31$25.14$24.00106.0%30.4%4.2%64.0%0.0%128.0%-37.6%-2.3K59.7K-2720.00194.14N/AN/A00755