S Options History — April 2008

In April 2008, S traded between $6.31 and $8.08. ATM implied volatility averaged 68.6%, placing in the 52.9% IV rank vs the trailing year. The 30-day expected move averaged 20.6%. IV traded above realized volatility by 11.4% (HV 20d: 57.1%). Max pain ranged from $6.00 to $9.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 0.39.

Notable Days

  • 2008-04-01: Highest Volume — 46,298 contracts
  • 2008-04-10: Largest IV spike — 37.9% change
  • 2008-04-14: Highest IV Rank — 67.2%
  • 2008-04-04: Largest Expected Move — 23.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.94$6.31$8.08$6.68$7.99
Max Pain$8.09$6.00$9.00$6.00$8.00
ATM IV68.6%53.3%81.0%69.3%61.8%
Expected Move20.6%17.7%23.4%19.9%17.7%
HV 20d57.1%34.8%73.2%73.1%46.7%
HV 60d78.6%67.2%89.9%89.3%67.5%
IV Rank52.9%34.7%67.2%54.6%44.7%
IV Percentile89.4%80.6%94.8%93.3%81.7%
Term Structure-1.5%-8.6%14.2%14.2%-3.1%
VWIV72.0%60.4%80.3%68.0%60.4%
Skew 25d1.7%-12.6%6.7%-12.6%-2.9%
Skew 10d2.0%-18.3%27.9%12.3%6.7%
Call IV 25d72.3%57.6%81.4%79.7%63.0%
Put IV 25d73.9%60.2%82.9%67.2%60.2%
Bid-Ask Spread %10.446.4315.3413.736.88
Gamma HHI0.160.140.180.150.16
Net GEX507.4K-7.7K1.3M537.2K1.3M
Net DEX24.0M-26.2M45.2M33.4M-21.5M
Net VEX-850.2K-946.4K-764.3K-890.5K-840.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.390.031.330.650.50
Total Volume12,509.0451,52446,29846,29812,597
Total OI820,892.955769,807856,380827,195805,410

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-04-01$6.68$6.0069.3%19.9%73.1%54.6%68.0%-12.6%14.2%537.2K33.4M-890.5K0.6513.73N/AN/A28,00418,294465,981361,214
2008-04-02$6.60$6.0071.5%20.5%73.0%57.2%74.1%3.6%10.5%357.9K37.9M-920.9K0.3614.00N/AN/A30,75511,077463,319364,461
2008-04-03$6.64$6.0067.3%19.3%72.7%52.4%70.2%-0.1%13.7%383.2K34.4M-942.8K0.1214.71N/AN/A2,064240482,467373,913
2008-04-04$6.52$9.0069.3%23.4%72.3%54.7%78.0%1.5%-8.6%360.4K37.3M-915.3K0.3410.63N/AN/A2,218752482,356370,460
2008-04-07$6.81$9.0063.0%22.0%73.2%47.5%78.1%2.4%-2.5%466.7K27.7M-946.4K0.0514.06N/AN/A30,1251,406482,689369,588
2008-04-08$6.64$9.0053.3%22.3%72.2%34.7%80.3%4.6%-4.4%356.8K39.8M-831.7K0.109.70N/AN/A4,774486468,639368,249
2008-04-09$6.53$9.0056.2%22.7%65.3%38.2%78.6%-1.6%-6.2%344.9K40.5M-844.9K0.1815.34N/AN/A8,4781,526478,870367,100
2008-04-10$6.58$9.0077.5%22.2%65.3%63.1%78.4%2.3%-2.4%367.4K37.8M-848.1K1.1211.65N/AN/A1,0451,166473,119362,316
2008-04-11$6.47$9.0076.5%21.9%64.0%62.0%76.2%0.5%2.6%295.5K40.9M-831.5K0.0910.64N/AN/A1,959174471,615361,070
2008-04-14$6.42$9.0081.0%23.2%64.1%67.2%79.8%-0.3%-3.7%261.3K45.2M-771.3K1.3311.11N/AN/A2,5403,377472,376360,595
2008-04-15$6.31$9.0080.9%23.2%60.0%67.1%78.2%5.2%-2.6%-7.7K44.9M-778.5K0.169.34N/AN/A4,417694472,985361,992
2008-04-16$6.43$8.0075.5%21.7%58.4%60.8%76.3%3.8%-0.1%268.1K41.3M-784.2K0.3111.71N/AN/A1,390427474,426357,758
2008-04-17$6.39$8.0075.9%21.8%55.0%61.2%74.8%2.9%-2.3%66.5K41.7M-764.3K0.0311.81N/AN/A1,47846475,185357,864
2008-04-18$6.67$8.0070.8%20.3%36.5%55.2%74.3%4.2%-2.1%75.7K37.0M-806.3K0.358.41N/AN/A7,2592,555475,542357,584
2008-04-21$6.70$8.0070.1%20.1%34.8%54.5%70.4%3.0%-3.4%129.5K40.6M-777.8K0.376.43N/AN/A3,8891,434438,154331,653
2008-04-22$7.05$8.0068.1%19.5%37.6%52.1%67.8%3.4%-4.2%332.2K30.2M-789.7K0.718.14N/AN/A7,3805,207438,154331,653
2008-04-23$7.67$8.0065.1%18.7%47.0%48.6%65.0%2.2%-7.4%751.1K1.2M-891.4K0.328.29N/AN/A21,8236,936443,626332,113
2008-04-24$7.85$8.0062.7%18.0%47.0%45.8%63.8%0.1%-7.3%1.0M-12.1M-896.8K0.828.75N/AN/A10,5518,617456,275337,151
2008-04-25$7.91$8.0064.1%18.4%46.3%47.4%63.9%6.7%-3.0%1.0M-12.9M-898.9K0.139.34N/AN/A15,9232,059461,648342,710
2008-04-28$7.78$8.0063.5%18.2%45.6%46.7%64.8%3.0%-4.2%1.1M-11.7M-865.0K0.398.16N/AN/A2,7321,078469,172333,728
2008-04-29$8.08$8.0064.6%18.5%46.7%48.0%62.8%4.4%-6.4%1.3M-26.2M-867.6K0.286.89N/AN/A4,8981,349470,692333,773
2008-04-30$7.99$8.0061.8%17.7%46.7%44.7%60.4%-2.9%-3.1%1.3M-21.5M-840.8K0.506.88N/AN/A8,4204,177472,417332,993