TEX Options History — February 2008

In February 2008, TEX traded between $54.86 and $70.88. ATM implied volatility averaged 50.6%, placing in the 47.8% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded below realized volatility by 2.2% (HV 20d: 52.9%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 0.75.

Notable Days

  • 2008-02-21: Highest Volume — 12,928 contracts
  • 2008-02-14: Largest IV spike — 33.0% change
  • 2008-02-05: Highest IV Rank — 79.8%
  • 2008-02-11: Largest Expected Move — 17.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$61.91$54.86$70.88$60.56$67.45
Max Pain$57.25$55.00$60.00$55.00$60.00
ATM IV50.6%38.2%66.4%53.4%43.4%
Expected Move14.8%11.0%17.9%15.3%12.4%
HV 20d52.9%40.5%68.6%68.6%44.6%
HV 60d58.3%55.3%62.0%61.9%55.3%
IV Rank47.8%22.5%79.8%53.4%33.1%
IV Percentile71.8%34.9%98.0%90.1%52.4%
Term Structure0.8%-2.3%5.1%-1.9%2.8%
VWIV51.8%39.7%62.6%57.0%42.3%
Skew 25d8.5%5.3%12.2%12.2%5.3%
Skew 10d16.6%10.6%24.9%24.9%11.4%
Call IV 25d47.3%35.9%57.5%47.9%39.8%
Put IV 25d55.8%41.5%66.2%60.1%45.1%
Bid-Ask Spread %13.919.2017.2712.0114.08
Gamma HHI0.190.150.490.230.17
Net GEX428.0K-2.2M1.7M281.7K1.2M
Net DEX-37.7M-97.2M13.5M-40.9M-63.6M
Net VEX-546.7K-634.9K-502.7K-517.6K-634.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.193.450.590.72
Total Volume4,368.651,91112,9286,8692,391
Total OI60,193.3548,49465,96557,32862,677

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-02-01$60.56$55.0053.4%15.3%68.6%53.4%57.0%12.2%-1.9%281.7K-40.9M-517.6K0.5912.01N/AN/A4,3152,55430,32926,999
2008-02-04$59.52$60.0059.1%15.8%65.6%65.0%55.8%11.2%-1.2%204.5K-31.2M-517.7K0.5312.09N/AN/A4,4202,35731,29327,948
2008-02-05$56.12$60.0066.4%17.4%64.9%79.8%59.5%10.5%-2.3%146.7K-2.2M-520.9K0.8416.73N/AN/A1,7031,42433,28029,654
2008-02-06$54.94$60.0062.7%17.4%62.9%72.3%62.1%10.2%-1.3%-82.8K13.5M-502.7K0.9213.86N/AN/A3,0182,77431,73330,119
2008-02-07$54.89$55.0059.5%17.6%62.8%65.8%61.0%9.3%-1.2%-54.4K11.4M-519.0K0.6516.68N/AN/A2,0091,30133,23131,662
2008-02-08$54.86$55.0055.8%17.8%61.4%58.3%60.1%8.8%-0.8%-10.6K12.3M-514.3K0.3117.16N/AN/A1,46344833,37731,706
2008-02-11$56.10$55.0058.7%17.9%61.5%64.2%62.6%9.1%-1.8%3.4K2.1M-511.9K0.4914.43N/AN/A1,38468533,39631,710
2008-02-12$57.38$55.0056.5%17.7%56.8%59.7%59.2%10.2%-1.5%-87.0K-11.8M-520.7K0.6615.67N/AN/A2,2291,47033,57231,783
2008-02-13$58.44$55.0042.1%16.2%56.2%30.5%54.7%8.5%-0.4%-138.2K-18.5M-528.3K0.1916.08N/AN/A2,12940333,32031,752
2008-02-14$60.17$55.0056.0%16.1%56.4%58.8%54.1%9.3%-0.0%-406.7K-43.0M-535.6K0.3510.62N/AN/A2,45385033,69031,849
2008-02-15$59.80$55.0055.0%15.8%41.5%56.7%55.9%8.8%0.7%-2.2M-32.7M-530.3K0.5612.85N/AN/A1,40878234,06331,902
2008-02-19$61.17$55.0054.3%15.6%40.8%55.1%52.8%10.4%0.4%408.3K-22.4M-521.6K0.5116.61N/AN/A1,93198925,20823,286
2008-02-20$62.21$55.0052.5%15.0%40.5%51.6%51.5%9.7%0.0%574.5K-27.8M-529.9K0.4717.27N/AN/A3,7171,76226,25423,656
2008-02-21$66.73$55.0042.9%12.3%45.9%32.0%42.9%6.9%2.4%1.2M-64.0M-536.5K0.8311.18N/AN/A7,0575,87127,53023,919
2008-02-22$67.64$60.0039.6%11.4%45.7%25.3%41.2%6.6%3.5%1.2M-71.5M-581.4K0.4815.34N/AN/A2,1741,04029,49326,060
2008-02-25$69.10$60.0038.2%11.0%45.6%22.5%41.4%5.9%5.1%1.5M-82.5M-585.3K1.2010.95N/AN/A3,2213,87130,31426,441
2008-02-26$70.88$60.0039.0%11.2%45.8%24.1%39.7%5.7%4.4%1.6M-97.2M-595.6K0.589.20N/AN/A3,6102,10831,06627,895
2008-02-27$70.27$60.0039.2%11.2%45.9%24.4%40.0%5.6%4.0%1.7M-93.0M-615.4K0.5911.93N/AN/A1,61394832,57028,317
2008-02-28$69.98$60.0038.5%11.0%44.1%23.1%41.5%5.6%4.9%1.6M-90.7M-614.8K3.4513.39N/AN/A7842,70732,42928,384
2008-02-29$67.45$60.0043.4%12.4%44.6%33.1%42.3%5.3%2.8%1.2M-63.6M-634.9K0.7214.08N/AN/A1,3881,00332,77929,898