S Options History — October 2008

In October 2008, S traded between $2.92 and $6.54. ATM implied volatility averaged 129.0%, placing in the 81.8% IV rank vs the trailing year. The 30-day expected move averaged 36.3%. IV traded below realized volatility by 7.9% (HV 20d: 136.8%). Max pain ranged from $7.00 to $8.00. Net GEX was positive for 5 of 23 trading days. Term structure was in contango for 2 of 23 days. Put/call ratio averaged 2.14.

Notable Days

  • 2008-10-09: Highest Volume — 36,834 contracts
  • 2008-10-16: Largest IV spike — 59.6% change
  • 2008-10-06: Highest IV Rank — 100.0%
  • 2008-10-31: Largest Expected Move — 44.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.99$2.92$6.54$6.54$3.13
Max Pain$7.39$7.00$8.00$7.00$7.00
ATM IV129.0%78.0%164.3%78.0%154.1%
Expected Move36.3%22.4%44.2%22.4%44.2%
HV 20d136.8%105.6%162.8%105.6%162.8%
HV 60d101.7%81.5%118.8%81.5%117.5%
IV Rank81.8%44.4%100.0%61.1%92.3%
IV Percentile97.5%88.1%100.0%88.1%99.6%
Term Structure-13.3%-67.4%5.0%5.0%-67.4%
VWIV120.4%77.6%152.2%77.6%124.8%
Skew 25d3.8%-69.0%42.0%-2.2%-69.0%
Skew 10d15.8%-83.9%86.7%-8.5%-83.9%
Call IV 25d123.6%78.5%159.3%78.5%159.3%
Put IV 25d127.3%76.4%165.2%76.4%90.4%
Bid-Ask Spread %17.6610.4138.3512.2516.50
Gamma HHI0.310.130.440.140.35
Net GEX-86.5K-184.0K109.9K109.9K-104.4K
Net DEX45.6M27.0M57.3M27.0M38.1M
Net VEX-216.5K-422.8K-123.7K-422.8K-150.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.140.1219.011.420.65
Total Volume8,675.17465936,8342,6061,507
Total OI543,402.043499,999599,505544,305503,803

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-10-01$6.54$7.0078.0%22.4%105.6%61.1%77.6%-2.2%5.0%109.9K27.0M-422.8K1.4212.25N/AN/A1,0751,531336,500207,805
2008-10-02$6.03$7.0099.5%28.5%106.9%88.1%99.4%6.6%-9.9%52.2K35.7M-386.1K0.2716.99N/AN/A1,496397335,020207,933
2008-10-03$5.70$7.0094.8%27.2%107.8%82.2%98.5%6.1%-24.8%-60.1K47.4M-325.1K0.3520.52N/AN/A12,1974,299336,059207,962
2008-10-06$5.28$8.00122.2%26.9%109.8%100.0%88.9%11.5%-7.1%3.0K45.2M-315.5K0.7821.83N/AN/A9,9527,796344,481209,988
2008-10-07$4.86$8.00109.1%30.5%112.0%85.9%103.9%10.3%-5.1%6.9K48.3M-298.0K0.3038.35N/AN/A13,9284,208352,273215,223
2008-10-08$4.44$8.00143.3%35.9%113.4%100.0%115.8%18.2%-3.6%2.2K44.1M-273.2K1.5528.47N/AN/A2,0063,104351,700211,485
2008-10-09$3.76$8.00145.5%35.1%123.9%100.0%118.6%19.0%1.8%-20.6K43.0M-222.9K19.0124.93N/AN/A1,84134,993350,135212,201
2008-10-10$3.57$8.00153.8%41.8%123.2%100.0%122.7%42.0%-20.4%-106.5K51.1M-221.5K4.8820.47N/AN/A2,26411,052350,745243,993
2008-10-13$4.21$8.00164.3%39.3%141.7%100.0%128.0%28.1%-17.0%-148.4K56.8M-258.7K1.4020.83N/AN/A3,4284,808351,207246,915
2008-10-14$4.04$8.00133.5%37.2%141.8%76.8%118.9%11.7%-17.9%-150.7K57.2M-237.8K0.5512.89N/AN/A8,6064,731352,505247,000
2008-10-15$3.33$8.0090.3%42.3%150.0%44.4%111.5%4.5%-29.4%-116.4K53.4M-181.1K0.8221.04N/AN/A8,4526,898354,203244,412
2008-10-16$3.33$8.00144.1%41.3%144.8%84.8%135.8%10.9%-33.5%-140.7K57.3M-154.4K2.1815.73N/AN/A2,5275,517353,417244,176
2008-10-17$3.06$7.00135.9%39.0%132.6%78.6%137.2%0.5%-0.3%-111.0K51.3M-146.6K0.6912.54N/AN/A2,9622,045350,771237,821
2008-10-20$3.55$7.00119.8%34.4%147.1%66.5%122.1%-9.1%-4.6%-150.3K45.1M-170.9K0.4311.77N/AN/A2,7411,187301,425206,111
2008-10-21$3.82$7.00119.3%34.2%149.7%66.1%118.0%11.9%-7.4%-184.0K46.4M-179.7K0.1816.30N/AN/A1,943357301,668204,159
2008-10-22$3.47$7.00128.5%36.8%151.5%73.0%127.0%-8.3%-3.6%-127.6K41.4M-170.8K0.7417.34N/AN/A856633302,127200,250
2008-10-23$3.48$7.00141.1%40.4%149.4%82.5%138.3%14.0%-11.3%-136.2K44.3M-154.8K0.1211.51N/AN/A7,831909302,481199,562
2008-10-24$3.16$7.00140.2%40.2%150.4%81.9%140.0%-11.1%-10.3%-105.8K41.1M-144.0K2.5912.14N/AN/A4411,143301,012198,987
2008-10-27$2.92$7.00143.3%41.1%147.6%84.2%152.2%-11.6%-9.4%-91.3K40.3M-123.7K9.5210.88N/AN/A1,35512,894301,124199,958
2008-10-28$3.34$7.00138.1%39.6%159.3%80.3%138.4%-5.1%-12.5%-128.3K46.0M-142.9K0.4120.60N/AN/A801326302,131205,428
2008-10-29$3.18$7.00132.8%38.1%155.0%76.3%135.7%-5.8%-8.7%-120.9K43.0M-144.1K0.2510.41N/AN/A528131302,127205,426
2008-10-30$3.49$7.00134.3%38.5%160.5%77.4%116.8%13.6%-9.2%-160.5K44.8M-152.7K0.1311.94N/AN/A1,617216302,461202,077
2008-10-31$3.13$7.00154.1%44.2%162.8%92.3%124.8%-69.0%-67.4%-104.4K38.1M-150.9K0.6516.50N/AN/A915592302,160201,643