S Options History — July 2008

In July 2008, S traded between $8.14 and $9.04. ATM implied volatility averaged 75.6%, placing in the 58.5% IV rank vs the trailing year. The 30-day expected move averaged 22.0%. IV traded above realized volatility by 15.7% (HV 20d: 59.9%). Max pain ranged from $7.00 to $9.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 2 of 22 days. Put/call ratio averaged 0.46.

Notable Days

  • 2008-07-15: Highest Volume — 71,833 contracts
  • 2008-07-15: Largest IV spike — 26.9% change
  • 2008-07-15: Highest IV Rank — 78.6%
  • 2008-07-15: Largest Expected Move — 26.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.56$8.14$9.04$8.83$8.14
Max Pain$7.73$7.00$9.00$9.00$8.00
ATM IV75.6%64.2%91.8%72.5%79.5%
Expected Move22.0%19.3%26.3%20.8%22.8%
HV 20d59.9%51.1%68.8%55.5%51.7%
HV 60d52.9%48.5%56.0%51.8%48.5%
IV Rank58.5%44.2%78.6%55.7%63.2%
IV Percentile89.3%81.3%96.4%90.1%90.5%
Term Structure-8.8%-22.9%6.5%-2.8%-6.1%
VWIV78.1%68.1%92.2%72.5%86.5%
Skew 25d-0.7%-10.0%5.8%-0.6%-8.8%
Skew 10d-2.2%-26.5%20.1%13.4%-4.4%
Call IV 25d78.8%68.2%96.7%75.6%88.2%
Put IV 25d78.1%71.7%88.9%75.0%79.4%
Bid-Ask Spread %13.199.0125.3810.1610.51
Gamma HHI0.230.200.260.240.25
Net GEX1.8M1.3M2.2M1.7M1.8M
Net DEX-75.6M-109.7M-42.4M-89.3M-42.4M
Net VEX-779.5K-851.0K-705.2K-845.2K-705.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.460.091.820.511.82
Total Volume13,315.4091,86171,83333,55618,737
Total OI759,526.227729,881797,994753,868750,555

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-07-01$8.83$9.0072.5%20.8%55.5%55.7%72.5%-0.6%-2.8%1.7M-89.3M-845.2K0.5110.16N/AN/A22,22511,331453,242300,626
2008-07-02$8.74$9.0067.4%19.3%55.4%49.5%69.6%2.4%6.5%1.7M-83.8M-845.4K0.3016.86N/AN/A16,6684,930451,058299,942
2008-07-03$8.51$9.0067.2%19.3%56.0%47.9%68.1%3.5%5.3%1.9M-76.4M-851.0K0.5922.55N/AN/A1,540916471,890301,825
2008-07-07$8.63$7.0070.2%22.6%56.1%51.7%77.9%5.1%-17.1%1.6M-77.5M-823.5K0.2014.31N/AN/A6,1301,218457,287301,836
2008-07-08$8.96$7.0064.2%21.8%57.2%44.2%75.1%4.7%-15.1%1.9M-99.1M-840.0K0.1010.10N/AN/A5,642561458,615301,422
2008-07-09$8.60$7.0065.8%21.2%58.3%46.2%75.8%1.1%-11.5%1.7M-76.8M-803.6K0.0914.25N/AN/A3,010263457,771300,974
2008-07-10$8.58$7.0073.8%21.2%58.0%56.2%73.5%5.8%-12.4%1.7M-72.4M-794.6K0.3112.04N/AN/A2,002619457,732301,007
2008-07-11$8.43$7.0075.8%21.7%55.9%58.7%74.5%4.1%-10.2%1.5M-64.5M-783.2K0.9010.65N/AN/A1,5841,423458,651301,037
2008-07-14$8.26$7.0072.4%20.7%56.3%54.4%75.8%-0.9%-9.7%1.3M-49.4M-742.4K0.619.01N/AN/A1,154707458,271301,416
2008-07-15$9.04$7.0091.8%26.3%64.7%78.6%92.2%-10.0%-22.9%1.8M-109.7M-826.2K0.4925.38N/AN/A48,33123,502458,528300,955
2008-07-16$8.69$7.0077.1%22.1%66.4%60.3%77.0%-2.2%-9.6%1.9M-88.7M-816.2K0.7715.06N/AN/A7,5235,769485,501312,493
2008-07-17$8.31$7.0075.2%21.6%68.2%57.9%75.9%-4.2%-5.8%1.4M-58.7M-745.5K0.7713.80N/AN/A4,4873,462483,689307,451
2008-07-18$8.53$8.0075.1%21.5%68.8%57.8%74.3%5.1%-8.6%1.8M-70.2M-762.2K0.1012.99N/AN/A3,820389485,943308,472
2008-07-21$8.58$8.0076.9%22.1%66.5%60.1%76.1%-5.1%-9.4%1.8M-77.6M-755.1K0.319.08N/AN/A9,2152,821446,713283,168
2008-07-22$8.42$8.0075.0%21.5%66.2%57.6%72.7%2.1%-7.3%1.7M-66.8M-738.5K0.1014.36N/AN/A10,5641,055456,737285,581
2008-07-23$8.51$8.0072.6%20.8%64.2%54.7%80.6%-10.0%-11.2%1.9M-78.2M-769.1K0.1910.33N/AN/A4,803916458,553283,742
2008-07-24$8.50$8.0073.7%21.1%61.3%56.0%72.6%-1.2%-1.4%1.9M-69.4M-730.3K0.1111.62N/AN/A8,506961460,799284,524
2008-07-25$8.74$8.0074.0%21.2%61.0%56.4%79.1%4.2%-5.3%2.2M-91.6M-752.1K0.6310.30N/AN/A15,97610,026464,415284,758
2008-07-28$8.46$8.0086.8%24.9%61.9%72.3%89.1%-2.3%-11.9%1.9M-79.4M-738.5K0.3712.24N/AN/A17,4536,512469,453283,820
2008-07-29$8.49$8.0089.1%25.5%56.8%75.2%89.3%-5.3%-15.9%2.0M-84.5M-749.2K0.4913.94N/AN/A1,939948483,314286,861
2008-07-30$8.34$8.0087.1%25.0%51.1%72.7%90.1%-3.4%-11.4%1.9M-56.6M-732.8K0.3710.69N/AN/A2,414887461,505287,445
2008-07-31$8.14$8.0079.5%22.8%51.7%63.2%86.5%-8.8%-6.1%1.8M-42.4M-705.2K1.8210.51N/AN/A6,63512,102462,680287,875