TDC Options History — February 2008

In February 2008, TDC traded between $21.75 and $26.49. ATM implied volatility averaged 47.3%. The 30-day expected move averaged 11.2%. IV traded above realized volatility by 7.0% (HV 20d: 40.3%). Max pain ranged from $20.00 to $25.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.50.

Notable Days

  • 2008-02-12: Highest Volume — 347 contracts
  • 2008-02-12: Largest IV drop — 49.1% change
  • 2008-02-01: Largest Expected Move — 14.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.17$21.75$26.49$23.61$25.23
Max Pain$22.75$20.00$25.00$25.00$25.00
ATM IV47.3%32.3%81.6%51.1%33.1%
Expected Move11.2%9.3%14.6%14.6%9.5%
HV 20d40.3%35.5%45.6%35.5%41.3%
HV 60d36.7%34.9%38.4%37.8%35.4%
Term Structure1.3%-9.2%5.3%-9.2%5.1%
VWIV35.1%20.7%48.5%48.5%33.1%
Skew 25d6.5%1.5%15.0%5.4%1.5%
Skew 10d13.5%6.8%26.2%7.5%8.7%
Call IV 25d36.1%27.8%41.3%35.7%37.8%
Put IV 25d42.7%39.3%45.3%41.1%39.3%
Bid-Ask Spread %58.6031.7281.0563.0757.00
Gamma HHI0.510.350.670.350.59
Net GEX13.2K-14.1K41.1K-8.8K34.3K
Net DEX-270.0K-968.0K699.5K137.2K-661.2K
Net VEX-4.6K-5.6K-3.1K-4.4K-5.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.005.830.240.65
Total Volume49.313475251
Total OI1,507.41,3011,7851,5201,484

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-02-01$23.61$25.0051.1%14.6%35.5%0.0%48.5%5.4%-9.2%-8.8K137.2K-4.4K0.2463.07N/AN/A4210929591
2008-02-04$24.27$25.0047.6%11.1%37.5%0.0%38.2%5.4%0.6%-6.7K-26.9K-4.8K0.0063.06N/AN/A100969601
2008-02-05$23.57$25.0053.4%12.0%38.1%0.0%0.0%5.6%-1.4%-8.3K91.0K-4.5K0.0061.97N/AN/A160979601
2008-02-06$23.35$25.0066.7%11.9%38.1%0.0%0.0%5.3%-0.8%-6.5K183.6K-4.4K0.0058.80N/AN/A40989601
2008-02-07$23.25$25.0075.9%11.6%37.4%0.0%0.0%4.9%0.9%-5.5K207.3K-4.3K0.4256.72N/AN/A2410993601
2008-02-08$22.66$25.0079.5%12.0%37.9%0.0%0.0%7.0%-0.3%-6.8K356.6K-3.9K0.5059.12N/AN/A20101,003601
2008-02-11$22.60$25.0081.6%12.2%36.4%0.0%0.0%9.9%-1.3%-10.4K387.6K-3.8K0.6451.64N/AN/A25161,013601
2008-02-12$21.75$25.0041.5%11.4%38.1%0.0%37.8%4.0%2.2%-14.1K699.5K-3.1K0.0175.36N/AN/A34251,033606
2008-02-13$23.18$20.0045.4%11.4%45.6%0.0%36.7%7.5%2.3%19.7K-450.3K-4.5K0.0752.68N/AN/A7151,264521
2008-02-14$23.50$20.0041.4%11.9%45.1%0.0%32.7%6.9%2.6%13.2K-487.8K-4.3K0.0048.85N/AN/A1501,239526
2008-02-15$23.72$20.0039.8%11.4%44.0%0.0%0.0%11.9%2.0%14.9K-557.8K-4.2K0.0058.01N/AN/A4001,243526
2008-02-19$24.52$20.0032.3%9.3%44.7%0.0%32.3%15.0%5.3%25.4K-457.8K-4.6K0.0061.21N/AN/A401,054247
2008-02-20$24.95$20.0034.6%9.9%42.6%0.0%0.0%6.4%3.6%26.8K-506.8K-4.7K0.0060.77N/AN/A101,054247
2008-02-21$24.57$20.0037.1%10.6%40.8%0.0%37.5%2.5%1.0%25.8K-506.5K-4.6K0.0064.37N/AN/A3001,055247
2008-02-22$24.93$20.0036.5%10.5%40.7%0.0%37.5%4.7%4.0%27.1K-537.4K-4.7K0.7731.72N/AN/A13101,058247
2008-02-25$25.12$25.0035.1%10.1%40.7%0.0%0.0%5.1%4.2%28.7K-589.8K-4.8K0.0034.40N/AN/A601,064257
2008-02-26$26.03$25.0038.3%11.0%40.7%0.0%38.4%8.9%1.8%34.3K-794.6K-5.1K5.8354.94N/AN/A6351,070257
2008-02-27$26.49$20.0040.3%11.5%40.2%0.0%20.7%7.9%0.2%39.7K-968.0K-5.6K0.0081.05N/AN/A11001,076272
2008-02-28$26.05$20.0034.2%9.8%40.2%0.0%27.5%4.9%2.7%41.1K-917.5K-5.5K0.8377.30N/AN/A30251,157272
2008-02-29$25.23$25.0033.1%9.5%41.3%0.0%33.1%1.5%5.1%34.3K-661.2K-5.5K0.6557.00N/AN/A31201,187297