TEX Options History — July 2008

In July 2008, TEX traded between $42.66 and $51.83. ATM implied volatility averaged 62.7%, placing in the 68.1% IV rank vs the trailing year. The 30-day expected move averaged 18.1%. IV traded below realized volatility by 4.8% (HV 20d: 67.5%). Max pain ranged from $45.00 to $55.00. Net GEX was positive for 15 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.50.

Notable Days

  • 2008-07-10: Highest Volume — 17,744 contracts
  • 2008-07-10: Largest IV spike — 18.3% change
  • 2008-07-14: Highest IV Rank — 99.7%
  • 2008-07-14: Largest Expected Move — 21.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$47.20$42.66$51.83$51.83$47.33
Max Pain$49.09$45.00$55.00$55.00$45.00
ATM IV62.7%52.0%76.1%52.0%53.6%
Expected Move18.1%14.9%21.8%14.9%15.4%
HV 20d67.5%42.3%83.6%42.3%74.2%
HV 60d49.0%38.4%55.2%38.4%55.0%
IV Rank68.1%44.6%99.7%48.6%44.6%
IV Percentile90.5%75.8%99.6%77.8%75.8%
Term Structure-7.1%-16.3%4.3%4.3%-1.5%
VWIV63.3%51.8%76.7%51.8%54.3%
Skew 25d3.8%-1.5%8.5%3.0%-0.8%
Skew 10d6.9%-4.2%17.1%6.3%-0.7%
Call IV 25d61.8%51.1%76.5%51.1%54.9%
Put IV 25d65.6%54.1%80.3%54.1%54.1%
Bid-Ask Spread %11.866.8818.7310.626.94
Gamma HHI0.230.180.390.290.25
Net GEX437.1K-622.9K1.5M-431.6K951.2K
Net DEX27.0M-9.2M65.2M42.8M16.1M
Net VEX-466.3K-543.6K-356.1K-469.5K-499.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.171.010.530.41
Total Volume5,979.6361,73917,7444,7692,066
Total OI73,479.09161,08188,76662,03975,312

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-07-01$51.83$55.0052.0%14.9%42.3%48.6%51.8%3.0%4.3%-431.6K42.8M-469.5K0.5310.62N/AN/A3,1261,64333,46028,579
2008-07-02$47.22$55.0055.7%16.0%50.2%56.4%54.8%2.3%3.7%-622.9K62.1M-397.7K0.496.88N/AN/A1,84489834,72528,849
2008-07-03$45.92$55.0057.5%16.5%49.6%60.2%56.5%3.1%3.9%-588.5K63.4M-380.7K0.667.47N/AN/A3,5452,35635,49828,466
2008-07-07$47.60$50.0058.9%17.8%52.3%63.3%62.0%5.6%-8.8%-446.6K54.6M-410.0K0.4514.88N/AN/A7,6823,47536,82629,274
2008-07-08$46.96$50.0062.1%18.6%52.3%65.3%63.0%6.1%-10.6%-163.5K50.7M-437.4K1.0112.95N/AN/A1,7051,72342,30730,388
2008-07-09$43.04$50.0060.4%19.0%57.6%61.1%66.0%2.8%-11.0%-331.7K65.2M-356.1K0.3913.86N/AN/A2,9931,16342,50829,716
2008-07-10$43.46$50.0071.4%20.5%57.9%88.1%71.2%5.4%-13.7%-145.6K57.5M-385.2K0.619.01N/AN/A11,0386,70644,49429,806
2008-07-11$43.59$50.0073.0%20.9%57.7%91.9%73.4%4.0%-14.4%561.8K44.5M-429.5K0.8911.61N/AN/A2,0101,79751,97231,742
2008-07-14$43.56$50.0076.1%21.8%57.0%99.7%76.7%6.3%-16.3%611.9K44.1M-423.0K0.6510.54N/AN/A1,7991,17552,87732,310
2008-07-15$42.66$50.0075.7%21.7%56.4%98.6%76.7%2.5%-15.2%497.5K51.4M-407.6K0.8613.02N/AN/A4,6984,03053,08132,655
2008-07-16$48.47$50.0068.3%19.6%77.2%80.4%69.3%6.2%-11.2%1.4M-4.6M-515.2K0.1916.21N/AN/A11,6852,23156,28932,477
2008-07-17$49.47$50.0068.5%19.6%78.1%81.1%68.5%6.6%-11.9%1.5M-9.2M-520.4K0.5018.73N/AN/A3,5411,76854,86032,727
2008-07-18$47.32$50.0070.3%20.1%78.6%85.3%68.2%6.0%-12.9%375.6K18.6M-473.4K0.4415.08N/AN/A1,74476753,99233,377
2008-07-21$48.45$50.0069.1%19.8%79.6%82.4%68.8%8.5%-12.2%440.3K10.0M-488.2K0.269.61N/AN/A3,06679534,27826,803
2008-07-22$49.46$50.0065.4%18.7%80.4%73.4%65.9%6.6%-8.7%717.6K2.2M-508.5K0.1912.01N/AN/A9,0131,71036,39327,338
2008-07-23$50.12$45.0064.0%18.3%80.8%70.0%63.8%3.6%-8.8%660.6K-4.0M-535.8K0.4412.55N/AN/A4,8552,15736,91328,401
2008-07-24$46.72$45.0058.3%16.7%83.6%55.9%58.5%1.0%-3.1%440.7K20.1M-485.6K0.5712.32N/AN/A7,1444,04738,10229,481
2008-07-25$49.17$45.0054.9%15.8%79.9%47.8%55.6%2.5%-1.8%954.0K-810.9K-543.6K0.457.15N/AN/A1,55170241,37830,017
2008-07-28$47.62$45.0056.9%16.3%79.2%52.6%57.8%-1.5%-2.9%845.9K9.8M-511.4K0.5514.86N/AN/A1,49681941,61729,930
2008-07-29$49.00$45.0054.4%15.6%80.0%46.5%54.5%0.6%-2.3%1.1M1.3M-538.2K0.1712.32N/AN/A2,78446642,27830,479
2008-07-30$49.37$45.0054.0%15.5%80.0%45.6%54.2%3.5%-2.1%1.3M-2.7M-541.7K0.1912.33N/AN/A1,46227743,98430,581
2008-07-31$47.33$45.0053.6%15.4%74.2%44.6%54.3%-0.8%-1.5%951.2K16.1M-499.8K0.416.94N/AN/A1,46759944,66230,650