PCH Options History — January 2009

In January 2009, PCH traded between $22.76 and $28.50. ATM implied volatility averaged 78.2%, placing in the 35.0% IV rank vs the trailing year. The 30-day expected move averaged 21.5%. IV traded below realized volatility by 21.7% (HV 20d: 100.0%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 7 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 2.19.

Notable Days

  • 2009-01-30: Highest Volume — 564 contracts
  • 2009-01-28: Largest IV drop — 16.5% change
  • 2009-01-12: Highest IV Rank — 46.4%
  • 2009-01-02: Largest Expected Move — 24.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.27$22.76$28.50$25.48$25.19
Max Pain$29.00$25.00$30.00$25.00$25.00
ATM IV78.2%60.6%96.1%83.5%69.6%
Expected Move21.5%17.4%24.0%24.0%19.9%
HV 20d100.0%77.7%129.7%129.3%88.6%
HV 60d134.8%126.2%140.0%139.7%127.7%
IV Rank35.0%23.8%46.4%38.4%29.4%
IV Percentile76.2%67.1%94.0%80.6%68.3%
Term Structure-3.3%-9.9%2.3%-2.7%0.8%
VWIV72.2%61.0%90.7%90.7%69.4%
Bid-Ask Spread %27.8221.1142.2840.9042.28
Gamma HHI0.410.330.520.390.41
Net GEX-3.7K-14.1K5.9K2411.3K
Net DEX-72.4K-649.1K305.2K7.9K-201.8K
Net VEX-2.9K-6.9K-543-559-6.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.190.0010.0010.000.08
Total Volume100.95056411564
Total OI630.81691,2161691,216

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-01-02$25.48$25.0083.5%24.0%129.3%38.4%90.7%0.0%-2.7%2417.9K-55910.0040.90N/AN/A1108485
2009-01-05$24.86$30.0085.2%21.5%129.7%39.4%74.4%0.0%-3.0%-52429.9K-5433.1521.11N/AN/A20638595
2009-01-06$25.77$30.0083.1%21.9%128.8%38.1%75.7%0.0%-2.6%-2.4K54.2K-7804.3022.05N/AN/A208695157
2009-01-07$24.36$30.0079.4%21.9%124.8%35.8%81.2%0.0%-3.1%-6.9K164.8K-1.0K7.3321.26N/AN/A15110105243
2009-01-08$25.17$30.0084.2%21.2%117.9%38.8%69.1%0.0%-2.2%-11.2K206.8K-1.3K1.0821.34N/AN/A7985120333
2009-01-09$23.66$30.0084.3%23.6%116.2%38.8%73.5%0.0%-7.3%-11.5K219.1K-1.8K7.5026.37N/AN/A215199347
2009-01-12$22.76$30.0096.1%22.9%113.4%46.4%0.0%0.0%-6.9%-11.8K305.2K-1.6K3.3330.09N/AN/A310201349
2009-01-13$24.31$30.0088.4%21.5%102.8%41.4%0.0%0.0%-5.9%-12.9K187.9K-1.8K0.0024.78N/AN/A1400204359
2009-01-14$23.44$30.0082.7%23.7%100.0%37.9%0.0%0.0%-9.9%-13.7K122.8K-2.6K0.0028.71N/AN/A00344359
2009-01-15$25.16$30.0075.5%21.6%102.3%33.3%0.0%0.0%-6.0%-14.1K-65.3K-2.8K0.0024.95N/AN/A60344359
2009-01-16$26.51$30.0074.2%21.3%88.7%32.4%74.0%0.0%-3.6%-2.1K-242.9K-2.9K0.0023.07N/AN/A150349359
2009-01-20$24.13$30.0074.5%21.4%77.7%32.6%66.6%0.0%-4.8%-700-71.9K-2.6K0.0029.54N/AN/A160296214
2009-01-21$26.34$30.0077.2%22.1%82.2%34.4%68.9%0.0%-5.7%718-198.8K-2.8K0.9132.67N/AN/A1110312214
2009-01-22$25.30$30.0074.8%21.4%80.8%32.8%73.6%0.0%-3.9%339-144.1K-2.8K1.6721.21N/AN/A610323224
2009-01-23$26.03$30.0073.7%21.1%81.3%32.1%81.6%0.0%0.3%-27-172.6K-2.9K0.9826.20N/AN/A199195329234
2009-01-26$25.61$30.0074.2%21.3%81.6%32.5%70.0%0.0%-1.9%-164-275.5K-5.3K0.3323.17N/AN/A31518416
2009-01-27$26.44$30.0072.5%20.8%81.9%31.4%62.5%0.0%-1.0%485-332.3K-5.4K0.0031.53N/AN/A610521417
2009-01-28$28.50$25.0060.6%17.4%84.0%23.8%61.0%0.0%2.0%5.9K-649.1K-5.7K0.9535.16N/AN/A134127576417
2009-01-29$26.42$25.0070.5%20.2%87.2%30.1%62.8%0.0%2.3%4.1K-393.1K-6.9K0.0029.93N/AN/A20690524
2009-01-30$25.19$25.0069.6%19.9%88.6%29.4%69.4%0.0%0.8%1.3K-201.8K-6.5K0.0842.28N/AN/A52143692524