PCEF Options History — March 2016

In March 2016, PCEF traded between $20.66 and $21.56. ATM implied volatility averaged 34.9%, placing in the 17.2% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded above realized volatility by 26.9% (HV 20d: 8.0%). Max pain ranged from $21.00 to $21.00. Net GEX was positive for 13 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 1.04.

Notable Days

  • 2016-03-01: Highest Volume — 76 contracts
  • 2016-03-30: Largest IV spike — 2019.9% change
  • 2016-03-23: Highest IV Rank — 80.7%
  • 2016-03-07: Largest Expected Move — 55.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.19$20.66$21.56$20.66$21.56
Max Pain$21.00$21.00$21.00$21.00$21.00
ATM IV34.9%1.7%160.7%20.1%20.8%
Expected Move10.7%0.5%55.9%5.7%6.0%
HV 20d8.0%5.6%10.8%10.8%7.7%
HV 60d12.9%12.4%13.4%13.4%12.5%
IV Rank17.2%0.5%80.7%9.8%10.1%
IV Percentile21.7%2.4%91.7%11.9%16.3%
Term Structure25.9%-187.8%177.3%174.9%12.3%
VWIV20.2%19.8%20.7%20.7%19.8%
Skew 25d49.2%-55.0%175.6%130.5%36.5%
Skew 10d53.0%-111.6%175.6%130.5%50.2%
Call IV 25d41.0%5.4%176.6%14.9%5.6%
Put IV 25d90.3%9.8%197.8%145.4%42.0%
Bid-Ask Spread %169.88117.28198.72183.48154.38
Gamma HHI0.760.350.980.980.58
Net GEX23.5K-2.4K83.6K28.6K-1.4K
Net DEX-27.6K-172.6K28.5K-42.7K15.4K
Net VEX-297-716-81-463-97
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.040.841.241.051.24
Total Volume59.36438767638
Total OI405.3643761961637

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2016-03-01$20.66$21.0020.1%5.7%10.8%9.8%20.7%130.5%174.9%28.6K-42.7K-4631.05183.48N/AN/A373957541
2016-03-02$20.73$21.0019.8%5.7%10.5%9.6%19.8%131.4%177.3%31.0K-43.6K-5001.05189.50N/AN/A373957441
2016-03-03$20.86$0.0018.8%53.4%10.6%9.1%0.0%-55.0%-182.6%38.0K-59.8K-5371.05185.23N/AN/A373957441
2016-03-04$21.01$0.0022.7%5.8%10.8%11.1%0.0%15.5%-10.5%52.2K-142.3K-7160.84170.15N/AN/A373157441
2016-03-07$21.02$0.0019.4%55.9%10.0%9.4%0.0%-54.6%-187.8%44.9K-67.7K-4990.86189.75N/AN/A373257444
2016-03-08$21.02$0.0026.9%6.2%8.2%13.2%0.0%17.2%-0.6%51.4K-129.4K-5670.86185.13N/AN/A373257445
2016-03-09$21.09$0.0020.9%6.0%7.7%10.2%0.0%-8.6%-19.2%4.8K23.4K-2130.86121.58N/AN/A373257445
2016-03-10$21.10$0.003.2%0.9%7.5%1.3%0.0%92.5%14.3%40.7K-41.0K-3900.86185.60N/AN/A373257445
2016-03-11$21.29$0.0021.4%6.1%5.8%10.4%0.0%19.4%-3.3%71.8K-172.6K-5280.86165.43N/AN/A373257445
2016-03-14$21.29$0.002.0%0.6%5.6%0.7%0.0%139.4%7.9%39.8K-25.4K-2890.86178.43N/AN/A373257445
2016-03-15$21.09$0.001.9%0.6%7.3%0.6%0.0%33.6%17.7%18.3K2.2K-1920.97186.83N/AN/A373657045
2016-03-16$21.24$0.0029.5%0.0%7.0%14.5%0.0%137.4%10.3%23.6K14.9K-2000.97178.58N/AN/A373656447
2016-03-17$21.30$0.0034.6%9.9%7.0%17.1%0.0%3.6%-12.6%83.6K-97.6K-2920.97198.72N/AN/A373656447
2016-03-18$21.40$0.0019.4%5.6%7.0%9.4%0.0%22.1%-1.6%-1.2K19.7K-870.97117.28N/AN/A373656447
2016-03-21$21.45$0.0081.1%0.0%6.9%40.5%0.0%167.8%148.9%-76015.4K-811.24138.72N/AN/A1721532
2016-03-22$21.44$0.00157.7%0.0%6.8%79.2%0.0%21.7%150.6%-32819.6K-1681.24177.03N/AN/A1721532
2016-03-23$21.39$0.00160.7%0.0%7.1%80.7%0.0%175.6%154.9%-31318.2K-1671.24175.41N/AN/A1721532
2016-03-24$21.23$0.0028.1%8.1%7.9%13.8%0.0%8.4%-23.2%-1.8K18.5K-1071.24153.37N/AN/A1721532
2016-03-28$21.20$0.0019.9%5.7%8.0%9.7%0.0%-6.6%-5.7%-2.4K28.5K-1591.24158.61N/AN/A1721532
2016-03-29$21.33$0.001.7%0.5%8.2%0.5%0.0%21.2%161.3%-1.4K21.2K-1611.24187.21N/AN/A1721532
2016-03-30$21.47$0.0036.3%10.4%7.6%17.9%0.0%33.7%-13.2%-2.1K17.3K-1201.24157.02N/AN/A1721532
2016-03-31$21.56$0.0020.8%6.0%7.7%10.1%0.0%36.5%12.3%-1.4K15.4K-971.24154.38N/AN/A1721532