TEX Options History — October 2008

In October 2008, TEX traded between $12.17 and $29.43. ATM implied volatility averaged 117.2%, placing in the 79.1% IV rank vs the trailing year. The 30-day expected move averaged 31.6%. IV traded below realized volatility by 5.9% (HV 20d: 123.1%). Max pain ranged from $15.00 to $40.00. Net GEX was positive for 9 of 23 trading days. Term structure was in contango for 0 of 23 days. Put/call ratio averaged 0.67.

Notable Days

  • 2008-10-23: Highest Volume — 9,592 contracts
  • 2008-10-06: Largest IV spike — 32.5% change
  • 2008-10-02: Highest IV Rank — 100.0%
  • 2008-10-27: Largest Expected Move — 37.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.34$12.17$29.43$29.43$16.69
Max Pain$24.02$15.00$40.00$40.00$15.00
ATM IV117.2%81.3%150.5%81.3%106.3%
Expected Move31.6%23.3%37.6%23.3%30.5%
HV 20d123.1%77.6%171.1%99.6%168.7%
HV 60d95.3%77.5%118.1%77.5%118.0%
IV Rank79.1%52.8%100.0%72.1%61.6%
IV Percentile97.8%93.3%100.0%99.6%93.3%
Term Structure-14.0%-24.0%-3.1%-3.1%-5.7%
VWIV109.1%82.4%132.1%82.4%112.6%
Skew 25d11.4%-2.5%17.3%5.3%15.5%
Skew 10d18.8%-8.1%36.2%8.0%30.8%
Call IV 25d105.0%81.5%129.6%81.5%102.0%
Put IV 25d116.4%86.8%136.9%86.8%117.5%
Bid-Ask Spread %20.875.6337.229.3314.75
Gamma HHI0.140.080.230.190.23
Net GEX-27.4K-210.8K92.2K-210.8K92.2K
Net DEX29.8M7.0M50.1M50.1M7.0M
Net VEX-150.9K-242.4K-96.4K-242.4K-152.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.141.560.380.17
Total Volume3,738.9131,5429,5923,0172,019
Total OI73,732.73956,94785,99976,34371,986

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-10-01$29.43$40.0081.3%23.3%99.6%72.1%82.4%5.3%-3.1%-210.8K50.1M-242.4K0.389.33N/AN/A2,18783045,95430,389
2008-10-02$26.11$40.0099.6%28.6%77.6%100.0%95.9%3.0%-10.0%-159.1K49.0M-204.1K0.935.63N/AN/A1,04297046,31829,842
2008-10-03$23.67$40.0095.5%27.4%81.8%93.7%98.8%-2.5%-6.2%-129.3K50.1M-163.0K0.247.81N/AN/A2,88469146,94229,847
2008-10-06$23.12$30.00126.6%28.5%81.8%100.0%96.8%4.4%-14.9%-91.8K46.2M-168.2K0.5726.96N/AN/A3,3771,93748,02929,516
2008-10-07$21.25$30.00127.2%30.9%83.8%100.0%105.5%11.1%-18.7%-52.9K45.1M-142.4K0.6837.22N/AN/A1,9511,32149,08029,414
2008-10-08$20.61$30.00133.1%32.2%82.8%100.0%108.0%13.1%-23.0%-32.7K38.7M-150.4K0.3726.58N/AN/A3,8551,40850,27428,085
2008-10-09$19.17$30.00138.2%33.4%81.7%100.0%112.9%16.1%-24.0%-14.8K35.7M-148.0K0.6732.87N/AN/A1,32789251,37928,394
2008-10-10$19.06$25.00150.5%35.8%81.4%100.0%129.4%17.3%-16.4%-7.6K32.9M-157.1K0.4935.45N/AN/A2,6451,29352,08328,456
2008-10-13$23.44$25.00126.0%29.8%116.9%78.8%104.9%13.0%-14.0%9.6K35.3M-195.2K0.8527.62N/AN/A2,1171,79052,71628,507
2008-10-14$23.18$20.00126.0%29.4%116.6%78.8%100.6%12.5%-14.6%30.2K33.0M-200.3K0.6924.71N/AN/A1,17880754,23329,456
2008-10-15$19.30$20.00116.7%32.6%130.1%70.6%115.5%11.9%-15.4%-13.9K34.2M-154.1K1.5218.83N/AN/A1,4452,19554,51429,403
2008-10-16$20.34$20.00113.1%32.4%132.6%67.5%112.0%16.3%-17.1%-30.5K34.6M-162.6K0.9423.81N/AN/A87482055,40330,182
2008-10-17$20.35$20.00109.1%31.3%132.9%64.0%107.7%12.5%-15.1%-106.7K33.4M-165.7K0.7120.05N/AN/A99070155,67430,325
2008-10-20$21.22$20.0096.1%27.6%134.4%52.8%91.2%16.0%-6.8%-1.4K22.9M-156.8K0.3819.28N/AN/A1,76166434,41422,533
2008-10-21$17.42$20.0099.1%28.4%147.5%55.4%99.4%10.2%-9.6%2.3K24.2M-111.5K1.3317.17N/AN/A2,4363,23135,18622,670
2008-10-22$16.72$20.00111.8%32.1%147.3%66.4%112.7%14.3%-16.3%-20.6K21.8M-118.2K1.0723.10N/AN/A1,8742,00536,63323,327
2008-10-23$14.40$20.00116.4%33.4%152.2%70.4%115.1%15.0%-16.6%-23.4K21.8M-96.4K0.4619.09N/AN/A6,5913,00137,88623,969
2008-10-24$12.69$20.00130.3%37.4%152.6%82.5%129.8%6.3%-19.0%12.1K16.4M-98.8K1.5614.50N/AN/A2,0113,13042,02223,426
2008-10-27$12.17$17.50131.0%37.6%147.5%83.1%132.1%7.3%-20.0%1.6K17.1M-97.4K0.5319.35N/AN/A2,2211,16642,88725,595
2008-10-28$13.45$17.50127.9%36.7%153.3%80.4%123.7%14.1%-16.0%7.1K15.6M-109.5K0.1819.39N/AN/A1,31123143,74625,062
2008-10-29$14.16$17.50123.2%35.3%156.8%76.3%107.1%12.2%-13.4%21.4K13.3M-121.8K0.5819.79N/AN/A4,2242,45144,17624,613
2008-10-30$16.95$15.00110.3%31.6%171.1%65.1%115.1%17.3%-7.1%87.7K7.3M-153.8K0.1416.69N/AN/A3,64050146,68024,627
2008-10-31$16.69$15.00106.3%30.5%168.7%61.6%112.6%15.5%-5.7%92.2K7.0M-152.9K0.1714.75N/AN/A1,73228747,24224,744