S Options History — April 2011

In April 2011, S traded between $4.55 and $5.18. ATM implied volatility averaged 42.3%, placing in the 30.5% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded below realized volatility by 6.2% (HV 20d: 48.5%). Max pain ranged from $4.50 to $4.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.46.

Notable Days

  • 2011-04-29: Highest Volume — 150,639 contracts
  • 2011-04-08: Largest IV spike — 30.3% change
  • 2011-04-12: Highest IV Rank — 65.5%
  • 2011-04-12: Largest Expected Move — 13.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$4.78$4.55$5.18$4.56$5.18
Max Pain$4.50$4.50$4.50$4.50$4.50
ATM IV42.3%34.4%58.9%35.1%34.4%
Expected Move12.2%9.8%13.5%10.1%9.8%
HV 20d48.5%26.1%66.2%66.2%33.5%
HV 60d45.9%45.2%46.6%46.0%46.6%
IV Rank30.5%13.6%65.5%15.2%13.6%
IV Percentile30.9%6.0%88.1%7.5%6.0%
Term Structure-2.0%-5.9%6.7%6.7%3.8%
VWIV43.5%34.6%49.1%34.9%34.6%
Skew 25d-1.8%-9.8%4.1%-9.8%2.1%
Skew 10d-4.6%-17.8%11.7%-14.1%1.5%
Call IV 25d44.4%33.1%50.3%41.3%33.1%
Put IV 25d42.6%31.4%47.6%31.4%35.1%
Bid-Ask Spread %5.394.437.114.715.95
Gamma HHI0.360.270.570.280.48
Net GEX4.6M3.2M8.1M3.6M5.7M
Net DEX-148.1M-222.9M-105.1M-109.9M-222.9M
Net VEX-1.1M-1.2M-1.1M-1.1M-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.460.061.870.080.12
Total Volume47,035.911,915150,63926,723150,639
Total OI1,247,663.31,170,6051,348,4721,222,1821,262,288

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2011-04-01$4.56$4.5035.1%10.1%66.2%15.2%34.9%-9.8%6.7%3.6M-109.9M-1.1M0.084.71N/AN/A24,8001,923802,543419,639
2011-04-04$4.62$4.5037.0%12.4%65.4%19.1%45.2%-5.1%-2.7%3.7M-117.0M-1.1M0.715.42N/AN/A7,5855,404802,094418,260
2011-04-05$4.55$4.5035.8%12.0%63.3%16.7%45.2%-7.7%-2.1%3.5M-105.1M-1.1M0.744.77N/AN/A6,8375,078796,258419,058
2011-04-06$4.64$4.5038.0%12.2%63.7%21.3%45.3%-5.3%-1.9%3.8M-120.2M-1.1M0.595.25N/AN/A31,04618,211797,566422,031
2011-04-07$4.62$4.5035.4%12.1%61.7%15.9%43.0%-4.9%-2.1%3.8M-119.0M-1.1M1.874.43N/AN/A17,11531,942816,028432,596
2011-04-08$4.73$4.5046.2%13.0%61.9%38.6%49.1%-5.0%-3.7%4.3M-146.7M-1.1M0.065.15N/AN/A60,4993,646824,880399,499
2011-04-11$4.71$4.5051.8%13.2%61.9%50.6%48.7%-4.1%-3.5%5.1M-150.8M-1.1M0.884.57N/AN/A36,44131,986861,289393,783
2011-04-12$4.80$4.5058.9%13.5%62.2%65.5%47.6%-3.1%-5.9%5.4M-166.6M-1.2M0.204.64N/AN/A40,0947,956885,960424,382
2011-04-13$4.81$4.5047.0%13.0%61.9%40.3%45.2%-0.6%-4.4%5.9M-175.8M-1.2M0.595.12N/AN/A20,93712,278906,652430,100
2011-04-14$4.96$4.5044.2%12.7%61.1%34.4%44.2%4.1%-3.5%8.1M-205.7M-1.2M0.156.83N/AN/A25,6943,912908,371440,101
2011-04-15$4.81$4.5045.2%13.0%62.0%36.6%46.3%3.0%-3.7%4.8M-167.3M-1.2M0.164.81N/AN/A30,5674,783901,970437,683
2011-04-18$4.70$4.5046.2%13.2%32.2%38.7%47.2%-1.1%-3.1%3.2M-118.7M-1.2M0.765.08N/AN/A11,7128,948778,558392,047
2011-04-19$4.74$4.5042.8%12.3%31.3%31.5%44.3%-0.1%-1.1%3.5M-121.1M-1.2M0.135.42N/AN/A40,0015,319782,721396,198
2011-04-20$4.80$4.5042.7%12.2%31.5%31.3%42.6%0.8%-2.5%3.9M-135.5M-1.2M0.417.11N/AN/A9,0793,730801,778397,084
2011-04-21$4.81$4.5040.9%11.7%31.1%27.4%40.9%-0.5%-3.0%4.2M-135.7M-1.2M0.085.34N/AN/A18,9341,484801,858398,906
2011-04-25$4.80$4.5043.2%12.4%29.9%32.4%43.4%-0.6%-3.5%4.2M-140.2M-1.1M0.235.74N/AN/A30,3896,889810,889399,005
2011-04-26$4.81$4.5044.0%12.6%29.0%33.9%43.9%0.9%-3.3%4.4M-143.5M-1.2M0.654.93N/AN/A30,04719,425824,249402,041
2011-04-27$4.79$4.5042.7%12.3%26.1%31.4%42.6%-2.5%-1.6%4.6M-144.1M-1.2M0.606.03N/AN/A36,33421,695845,831419,550
2011-04-28$5.11$4.5035.0%10.0%33.7%15.1%35.1%3.9%1.2%6.2M-215.8M-1.2M0.146.47N/AN/A103,36813,991865,308434,212
2011-04-29$5.18$4.5034.4%9.8%33.5%13.6%34.6%2.1%3.8%5.7M-222.9M-1.2M0.125.95N/AN/A134,78315,856827,389434,899