S Options History — November 2012

In November 2012, S traded between $5.48 and $5.75. ATM implied volatility averaged 19.0%, placing in the 4.8% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded below realized volatility by 10.4% (HV 20d: 29.4%). Max pain ranged from $5.00 to $5.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.75.

Notable Days

  • 2012-11-16: Highest Volume — 76,298 contracts
  • 2012-11-16: Largest IV spike — 37.7% change
  • 2012-11-16: Highest IV Rank — 10.7%
  • 2012-11-14: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$5.62$5.48$5.75$5.61$5.73
Max Pain$5.05$5.00$5.50$5.50$5.00
ATM IV19.0%12.3%26.8%18.1%16.2%
Expected Move5.7%4.3%8.8%4.4%5.3%
HV 20d29.4%16.7%56.8%56.8%16.7%
HV 60d46.8%44.5%51.7%51.7%44.5%
IV Rank4.8%0.0%10.7%0.0%2.9%
IV Percentile2.9%0.0%8.7%0.0%0.8%
Term Structure-2.2%-11.0%2.9%0.9%0.8%
VWIV22.7%15.4%41.2%15.4%20.0%
Skew 25d7.9%-1.0%67.8%2.2%3.6%
Skew 10d13.3%-4.1%93.8%3.0%-0.9%
Call IV 25d20.2%13.0%24.4%13.0%16.7%
Put IV 25d28.1%15.3%91.0%15.3%20.3%
Bid-Ask Spread %7.184.4515.044.766.67
Gamma HHI0.570.410.710.580.61
Net GEX5.4M3.0M10.3M5.3M6.3M
Net DEX-127.6M-204.8M-70.1M-149.6M-134.5M
Net VEX-1.1M-1.4M-926.6K-1.1M-995.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.122.350.450.42
Total Volume21,871.3331,69876,29819,09411,469
Total OI2,159,252.5241,886,2172,400,3172,319,4121,915,634

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-11-01$5.61$5.5018.1%4.4%56.8%0.0%15.4%2.2%0.9%5.3M-149.6M-1.1M0.454.76N/AN/A13,1495,9451,373,588945,824
2012-11-02$5.70$5.5012.3%5.8%53.4%0.0%19.8%-1.0%-1.3%8.7M-185.9M-1.2M1.184.58N/AN/A17,57720,7241,376,505947,246
2012-11-05$5.75$5.0016.9%4.6%52.5%3.4%16.2%67.8%2.9%10.3M-204.8M-1.1M0.745.51N/AN/A10,2007,5491,373,328955,731
2012-11-06$5.73$5.0020.7%5.3%52.3%6.2%18.6%8.0%0.4%9.6M-199.4M-1.4M0.258.21N/AN/A24,6326,0641,375,048960,737
2012-11-07$5.62$5.0016.9%5.7%52.2%3.4%19.9%7.0%-1.3%5.0M-152.9M-1.1M0.227.39N/AN/A6,5171,4281,381,560962,491
2012-11-08$5.61$5.0018.7%6.2%50.8%4.7%26.5%5.3%-2.0%4.8M-144.0M-1.1M0.655.94N/AN/A9,8236,3371,379,145960,244
2012-11-09$5.55$5.0019.1%6.8%51.0%5.0%24.3%3.9%-3.8%3.3M-120.6M-1.4M0.465.90N/AN/A13,1916,0851,383,617962,270
2012-11-12$5.61$5.0025.8%5.7%17.4%10.1%22.9%6.9%-0.5%5.4M-144.5M-1.4M0.125.98N/AN/A49,2806,1011,390,907961,791
2012-11-13$5.58$5.0018.8%5.9%17.4%4.8%20.5%6.9%-2.1%3.9M-145.0M-1.3M0.645.48N/AN/A4,7983,0761,393,252958,436
2012-11-14$5.49$5.0021.2%8.8%18.2%6.6%30.7%5.3%-11.0%3.0M-99.5M-997.1K1.044.45N/AN/A23,33324,2931,395,272960,309
2012-11-15$5.54$5.0019.4%5.6%18.6%5.3%20.6%4.6%-4.7%3.6M-112.5M-1.3M1.409.31N/AN/A9,92713,9281,403,384974,990
2012-11-16$5.48$5.0026.8%7.7%18.6%10.7%22.5%2.0%-7.9%3.9M-96.9M-1.0M0.9110.97N/AN/A39,95236,3461,424,385975,932
2012-11-19$5.55$5.0018.7%5.4%19.0%4.7%17.2%4.4%-4.5%3.5M-78.0M-1.2M1.196.54N/AN/A10,85412,9281,082,688803,529
2012-11-20$5.51$5.0020.2%5.8%17.5%5.9%17.7%5.8%-5.5%3.5M-70.1M-995.4K2.355.05N/AN/A6,36114,9781,088,224809,597
2012-11-21$5.58$5.0017.7%5.1%18.0%4.0%26.7%5.3%-2.1%4.5M-97.4M-991.8K0.9410.34N/AN/A3,3703,1731,091,098816,146
2012-11-23$5.64$5.0019.4%5.6%18.4%5.3%19.9%10.5%-0.2%5.3M-105.0M-944.2K0.754.90N/AN/A3,2842,4591,092,044818,436
2012-11-26$5.62$5.0021.4%6.1%18.3%6.7%30.3%8.2%-4.1%5.4M-104.2M-926.6K0.428.79N/AN/A1,1935051,092,668817,325
2012-11-27$5.63$5.0015.0%4.3%17.1%2.0%41.2%7.0%-1.5%5.2M-90.7M-1.1M0.587.75N/AN/A7,9634,5801,092,565817,723
2012-11-28$5.70$5.0018.3%5.2%17.3%4.4%0.0%0.1%0.3%6.0M-117.8M-1.0M0.187.20N/AN/A7,1501,2681,093,963821,574
2012-11-29$5.72$5.0018.3%5.3%17.0%4.5%0.0%3.0%1.9%6.5M-125.8M-1.0M0.9415.04N/AN/A3,8793,6291,092,961822,136
2012-11-30$5.73$5.0016.2%5.3%16.7%2.9%20.0%3.6%0.8%6.3M-134.5M-995.4K0.426.67N/AN/A8,0553,4141,092,203823,431