TEX Options History — August 2007

In August 2007, TEX traded between $68.75 and $86.85. ATM implied volatility averaged 47.2%, placing in the 72.4% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded below realized volatility by 6.8% (HV 20d: 53.9%). Max pain ranged from $75.00 to $90.00. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 16 of 23 days. Put/call ratio averaged 0.91.

Notable Days

  • 2007-08-09: Highest Volume — 8,693 contracts
  • 2007-08-09: Largest IV spike — 22.2% change
  • 2007-08-09: Highest IV Rank — 100.0%
  • 2007-08-16: Largest Expected Move — 16.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$77.84$68.75$86.85$86.85$79.88
Max Pain$80.00$75.00$90.00$90.00$75.00
ATM IV47.2%36.8%57.6%43.7%38.3%
Expected Move13.1%10.5%16.3%12.5%11.0%
HV 20d53.9%43.8%62.6%53.0%56.4%
HV 60d43.3%37.7%47.5%37.7%47.5%
IV Rank72.4%31.5%100.0%77.4%36.6%
IV Percentile85.1%46.9%100.0%86.9%52.7%
Term Structure0.9%-2.3%3.7%1.9%3.3%
VWIV45.7%38.2%56.0%43.6%39.7%
Skew 25d3.1%-2.3%5.3%0.3%4.2%
Skew 10d6.3%-0.6%12.0%1.3%8.1%
Call IV 25d44.3%34.8%55.3%43.6%36.8%
Put IV 25d47.4%39.7%59.6%43.8%41.0%
Bid-Ask Spread %15.928.8652.8512.5014.94
Gamma HHI0.170.130.200.180.19
Net GEX849.6K-58.8K1.9M898.5K1.7M
Net DEX-35.3M-74.9M13.8M-67.5M-69.2M
Net VEX-457.5K-500.1K-393.3K-454.3K-500.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.910.144.931.700.75
Total Volume3,517.6091,0338,6933,1052,471
Total OI42,765.08737,24649,06637,24645,840

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2007-08-01$86.85$90.0043.7%12.5%53.0%77.4%43.6%0.3%1.9%898.5K-67.5M-454.3K1.7012.50N/AN/A1,1481,95722,40214,844
2007-08-02$86.46$90.0042.6%12.2%53.0%72.2%42.6%0.5%2.4%766.9K-62.9M-463.5K0.9211.90N/AN/A53949522,63215,622
2007-08-03$82.40$90.0045.1%12.9%55.8%84.1%45.2%0.9%1.5%357.5K-38.0M-447.3K0.5820.56N/AN/A1,48685622,76615,748
2007-08-06$83.41$85.0045.9%13.1%44.4%87.6%45.8%2.4%0.4%429.3K-42.4M-447.7K0.618.86N/AN/A1,7181,04823,08916,039
2007-08-07$81.95$85.0045.7%13.0%43.8%87.1%45.0%1.6%0.4%342.3K-33.7M-432.9K0.8810.94N/AN/A1,2361,08423,10616,150
2007-08-08$78.96$85.0046.8%12.7%44.8%92.0%44.2%1.2%0.1%-58.8K-12.4M-410.5K0.2320.10N/AN/A4,07494922,94816,547
2007-08-09$74.38$85.0057.2%14.0%46.9%100.0%49.0%-2.3%-0.3%132.9K5.5M-393.3K0.3252.85N/AN/A6,5632,13024,64916,825
2007-08-10$76.20$80.0054.5%14.4%48.6%91.0%50.4%1.6%-1.6%799.8K-15.3M-430.8K0.4416.28N/AN/A4,1781,83027,34516,373
2007-08-13$78.30$80.0057.6%14.5%49.3%100.0%50.6%2.2%-2.3%1.0M-30.9M-453.3K0.5813.08N/AN/A2,5541,48028,47416,956
2007-08-14$75.20$80.0056.2%14.2%50.5%95.6%49.3%2.4%-0.3%710.2K-11.0M-444.7K0.5516.21N/AN/A2,3391,29028,97617,546
2007-08-15$72.19$80.0056.1%14.7%51.4%95.3%50.5%3.2%-0.9%460.5K3.2M-425.9K0.9015.12N/AN/A2,3262,09529,71817,343
2007-08-16$68.75$80.0056.9%16.3%52.3%98.0%56.0%4.3%-1.5%326.9K13.8M-423.8K0.8615.68N/AN/A3,1132,67030,73617,978
2007-08-17$72.47$75.0051.8%14.8%57.1%81.0%50.8%5.0%0.9%636.5K-6.4M-459.9K0.5113.47N/AN/A2,1911,12130,94018,126
2007-08-20$75.53$80.0048.7%14.0%60.1%71.0%48.4%4.3%0.2%776.2K-39.5M-465.2K0.3211.88N/AN/A3,5581,13123,11815,192
2007-08-21$74.46$75.0047.5%13.6%59.8%67.0%47.7%5.1%0.9%798.8K-33.5M-469.9K0.3512.89N/AN/A1,24043424,82315,697
2007-08-22$77.79$75.0040.9%11.7%62.6%45.3%42.5%5.1%2.4%1.2M-53.7M-481.5K0.1418.25N/AN/A3,33647025,25415,787
2007-08-23$77.15$75.0042.9%12.3%60.3%51.6%42.0%4.8%1.9%1.4M-52.6M-490.9K0.2815.95N/AN/A80822526,95515,934
2007-08-24$80.35$75.0036.8%10.5%62.4%31.5%38.2%4.8%3.7%1.9M-74.9M-497.3K1.3215.54N/AN/A1,4921,96527,33615,966
2007-08-27$77.67$75.0039.2%11.2%57.0%39.5%39.9%4.3%3.2%1.4M-53.4M-480.5K0.6613.10N/AN/A1,07571427,07016,369
2007-08-28$75.50$75.0047.1%13.5%56.6%65.7%47.1%5.2%-0.2%1.2M-41.6M-478.1K2.569.42N/AN/A8282,12127,46116,437
2007-08-29$76.94$75.0042.6%12.2%57.2%50.9%42.5%5.3%1.9%1.1M-46.6M-481.6K4.9312.73N/AN/A8944,40727,40817,427
2007-08-30$77.45$75.0041.0%11.7%57.4%45.4%40.2%4.5%3.5%1.2M-48.4M-489.2K0.5314.00N/AN/A82544127,67317,972
2007-08-31$79.88$75.0038.3%11.0%56.4%36.6%39.7%4.2%3.3%1.7M-69.2M-500.1K0.7514.94N/AN/A1,4131,05827,83018,010