PCH Options History — February 2009

In February 2009, PCH traded between $22.68 and $28.33. ATM implied volatility averaged 70.2%, placing in the 29.8% IV rank vs the trailing year. The 30-day expected move averaged 20.4%. IV traded below realized volatility by 11.5% (HV 20d: 81.7%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 1.57.

Notable Days

  • 2009-02-12: Highest Volume — 1,042 contracts
  • 2009-02-10: Largest IV spike — 21.6% change
  • 2009-02-23: Highest IV Rank — 33.7%
  • 2009-02-23: Largest Expected Move — 21.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.09$22.68$28.33$26.36$22.77
Max Pain$26.32$25.00$30.00$25.00$25.00
ATM IV70.2%57.2%76.4%70.8%74.2%
Expected Move20.4%17.8%21.9%20.3%21.3%
HV 20d81.7%67.6%90.8%89.8%67.6%
HV 60d121.9%114.0%128.0%128.0%114.0%
IV Rank29.8%21.5%33.7%30.2%32.4%
IV Percentile68.3%63.9%73.4%69.0%69.4%
Term Structure1.2%-2.3%10.0%5.2%-2.3%
VWIV68.5%58.4%79.5%70.8%76.5%
Bid-Ask Spread %36.7323.2253.1338.3553.13
Gamma HHI0.560.430.790.510.67
Net GEX35.9K11.3K73.2K31.4K15.8K
Net DEX-909.7K-1.8M-67.2K-1.2M-296.6K
Net VEX-9.9K-13.4K-7.5K-8.0K-11.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.570.007.500.000.00
Total Volume95.94711,042147
Total OI2,228.8951,7602,9901,7602,364

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-02-02$26.36$25.0070.8%20.3%89.8%30.2%70.8%0.0%5.2%31.4K-1.2M-8.0K0.0038.35N/AN/A101,193567
2009-02-03$26.82$25.0069.8%20.0%89.4%29.6%59.0%0.0%2.8%32.2K-1.3M-8.1K0.0045.30N/AN/A801,194567
2009-02-04$26.13$25.0069.7%20.0%89.1%29.5%68.2%0.0%4.3%32.8K-1.2M-7.9K2.5041.75N/AN/A8201,199567
2009-02-05$26.09$25.0069.1%19.8%86.6%29.1%0.0%0.0%10.0%32.7K-1.1M-7.9K0.0045.04N/AN/A1101,207587
2009-02-06$28.04$30.0058.7%17.8%89.4%22.5%66.7%0.0%1.0%34.1K-1.7M-8.0K7.5029.32N/AN/A6451,218587
2009-02-09$28.33$30.0057.2%18.1%85.8%21.5%62.3%0.0%0.7%36.1K-1.8M-7.7K6.0033.47N/AN/A161,223586
2009-02-10$26.00$30.0069.5%20.8%90.8%29.4%64.4%0.0%-1.2%37.3K-1.1M-7.5K0.0423.22N/AN/A13051,224587
2009-02-11$26.17$30.0066.9%20.6%88.0%27.7%0.0%0.0%3.3%44.1K-1.3M-7.7K0.0032.94N/AN/A051,345592
2009-02-12$26.21$30.0073.7%21.1%86.8%32.0%70.3%0.0%-0.2%46.9K-1.3M-7.5K0.4627.63N/AN/A7133291,345597
2009-02-13$24.85$25.0070.1%20.1%85.6%29.7%70.0%0.0%0.6%55.5K-1.2M-13.4K0.2225.32N/AN/A46102,004923
2009-02-17$24.30$25.0071.9%20.6%83.5%30.9%0.0%0.0%-0.1%63.7K-875.1K-12.9K0.5023.70N/AN/A212,040924
2009-02-18$23.85$25.0069.7%20.0%76.8%29.5%69.1%0.0%2.4%59.1K-598.3K-12.0K0.5335.61N/AN/A19102,040920
2009-02-19$23.10$25.0075.1%21.5%70.0%32.9%79.5%0.0%0.9%11.3K-67.2K-11.2K0.5026.89N/AN/A422,056930
2009-02-20$24.22$25.0070.2%20.1%71.3%29.8%58.4%0.0%1.2%73.2K-523.3K-11.9K4.6938.63N/AN/A261222,059931
2009-02-23$22.68$25.0076.4%21.9%73.7%33.7%72.2%0.0%-1.1%15.8K-262.0K-10.8K0.5041.13N/AN/A30151,440705
2009-02-24$24.27$25.0070.6%20.2%78.2%30.1%70.3%0.0%-0.3%19.8K-548.1K-11.8K0.0038.88N/AN/A2301,462720
2009-02-25$23.45$25.0076.0%21.8%77.9%33.5%68.9%0.0%-1.8%20.9K-528.7K-11.2K0.0049.30N/AN/A5501,485720
2009-02-26$22.99$25.0074.7%21.4%71.8%32.7%70.1%0.0%-2.2%18.8K-427.5K-10.8K4.8648.22N/AN/A211021,521720
2009-02-27$22.77$25.0074.2%21.3%67.6%32.4%76.5%0.0%-2.3%15.8K-296.6K-11.2K0.0053.13N/AN/A4701,542822