PFE Options History — March 2007

In March 2007, PFE traded between $23.43 and $24.53. ATM implied volatility averaged 17.2%. The 30-day expected move averaged 5.0%. IV traded above realized volatility by 1.7% (HV 20d: 15.6%). Max pain ranged from $23.72 to $23.72. Net GEX was positive for 10 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.82.

Notable Days

  • 2007-03-05: Highest Volume — 125,558 contracts
  • 2007-03-12: Largest IV spike — 18.2% change
  • 2007-03-05: Largest Expected Move — 5.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.99$23.43$24.53$23.76$23.97
Max Pain$23.72$23.72$23.72$23.72$23.72
ATM IV17.2%14.9%19.0%17.7%15.8%
Expected Move5.0%4.5%5.6%5.1%4.5%
HV 20d15.6%13.0%17.6%14.7%14.2%
HV 60d14.8%14.6%15.1%14.9%14.6%
Term Structure0.3%-1.8%2.2%0.8%2.2%
VWIV17.3%13.0%20.1%17.7%15.8%
Skew 25d2.1%-5.3%7.6%1.5%2.6%
Skew 10d2.1%-8.7%7.7%2.2%3.6%
Call IV 25d14.3%9.5%20.0%16.1%13.2%
Put IV 25d16.4%13.6%21.3%17.6%15.8%
Bid-Ask Spread %4.413.036.674.785.77
Gamma HHI0.290.210.740.300.21
Net GEX-12.2M-169.5M13.2M-13.3M7.7M
Net DEX-201.5M-467.0M113.0M-33.8M-175.3M
Net VEX-14.4M-14.8M-13.9M-14.2M-13.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.820.241.870.891.87
Total Volume36,461.4554,783125,55852,96120,350
Total OI2,416,003.5452,251,6392,555,4102,459,6602,328,135

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2007-03-01$23.76$23.7217.7%5.1%14.7%0.0%17.7%1.5%0.8%-13.3M-33.8M-14.2M0.894.7828,00224,9591,306,2321,153,428
2007-03-02$23.52$23.7218.9%5.4%13.5%0.0%18.8%-0.4%0.7%-13.9M51.4M-14.4M0.536.6727,66914,5941,320,3171,161,566
2007-03-05$23.43$23.7218.5%5.6%13.0%0.0%20.1%0.3%-1.1%-17.1M113.0M-14.7M0.553.3480,78544,7731,333,3551,169,265
2007-03-06$23.90$23.7217.6%5.5%15.3%0.0%19.2%3.4%-1.8%-18.9M-144.3M-14.6M0.593.4410,7876,3751,340,0531,203,649
2007-03-07$23.98$23.7216.4%5.2%15.5%0.0%18.0%-2.0%-0.8%-15.9M-207.5M-14.3M0.514.3431,61416,2231,337,4501,172,873
2007-03-08$24.11$23.7217.7%5.1%15.4%0.0%17.6%-0.8%-0.6%-9.0M-291.9M-14.7M0.844.3512,37010,3961,351,4811,168,967
2007-03-09$24.11$23.7214.9%4.7%15.4%0.0%16.3%-1.3%0.7%-9.5M-297.1M-14.5M0.284.577,3592,0871,353,7371,162,890
2007-03-12$24.08$23.7217.7%5.1%15.4%0.0%17.7%-1.8%-0.8%-12.3M-285.7M-14.3M0.393.057,6212,9591,353,9451,165,216
2007-03-13$23.66$23.7219.0%5.1%16.3%0.0%17.9%-5.3%-0.2%-21.9M13.9M-14.5M1.133.5910,78312,2071,355,5021,163,601
2007-03-14$23.59$23.7217.0%5.1%16.0%0.0%18.6%-0.2%0.3%-27.4M82.4M-14.4M1.673.0320,36933,9401,357,5201,163,547
2007-03-15$23.71$23.7217.9%5.1%15.9%0.0%18.1%1.7%-0.7%-40.4M-64.8M-14.7M1.573.7919,92431,2081,368,1641,187,246
2007-03-16$23.71$23.7218.9%5.4%15.9%0.0%18.1%2.3%-0.8%-169.5M-46.9M-14.4M1.123.7449,45755,6291,355,8801,181,715
2007-03-19$24.06$23.7217.1%4.9%16.9%0.0%17.1%4.3%0.8%6.8M-241.1M-14.4M0.273.2721,9755,9881,191,0231,060,616
2007-03-20$24.23$23.7216.1%4.6%17.2%0.0%13.0%5.2%1.4%9.5M-351.7M-14.1M0.673.9529,12219,5611,202,3681,062,132
2007-03-21$24.53$23.7217.2%4.9%17.6%0.0%17.1%7.6%0.3%13.2M-467.0M-14.8M0.624.8118,32811,3541,226,5291,067,720
2007-03-22$24.47$23.7216.9%4.9%17.4%0.0%16.9%6.9%0.6%13.0M-454.0M-14.6M1.055.5914,39415,0671,231,9851,065,693
2007-03-23$24.35$23.7215.9%4.6%17.1%0.0%15.3%5.4%1.9%12.0M-393.2M-14.5M0.245.069,1762,2191,235,7921,066,792
2007-03-26$24.35$23.7216.5%4.7%16.9%0.0%15.9%5.5%1.4%12.2M-409.9M-14.2M0.574.956,3673,6121,232,5801,066,992
2007-03-27$24.18$23.7217.2%4.9%13.8%0.0%17.2%4.9%0.6%10.8M-358.2M-14.3M0.694.952,8341,9491,233,3161,066,499
2007-03-28$23.89$23.7217.4%5.0%14.3%0.0%17.4%2.8%0.7%7.7M-201.7M-14.1M1.504.6814,72222,0931,234,7241,067,051
2007-03-29$24.11$23.7216.6%4.8%14.6%0.0%16.6%3.8%1.7%8.7M-268.7M-14.4M0.545.2113,6457,3061,243,0801,081,452
2007-03-30$23.97$23.7215.8%4.5%14.2%0.0%15.8%2.6%2.2%7.7M-175.3M-13.9M1.875.777,08213,2681,247,4331,080,702