TEX Options History — April 2009

In April 2009, TEX traded between $9.74 and $13.80. ATM implied volatility averaged 90.0%, placing in the 47.5% IV rank vs the trailing year. The 30-day expected move averaged 26.0%. IV traded below realized volatility by 14.8% (HV 20d: 104.8%). Max pain ranged from $10.00 to $12.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.54.

Notable Days

  • 2009-04-24: Highest Volume — 16,801 contracts
  • 2009-04-23: Largest IV drop — 8.8% change
  • 2009-04-06: Highest IV Rank — 56.7%
  • 2009-04-07: Largest Expected Move — 28.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.88$9.74$13.80$9.74$13.80
Max Pain$10.43$10.00$12.50$10.00$12.50
ATM IV90.0%78.3%100.6%93.2%78.3%
Expected Move26.0%22.4%28.7%26.7%22.4%
HV 20d104.8%93.2%113.1%113.1%95.4%
HV 60d135.5%133.7%138.1%134.8%135.2%
IV Rank47.5%37.3%56.7%50.2%37.3%
IV Percentile52.4%42.1%68.3%56.3%42.1%
Term Structure-2.8%-8.5%4.5%4.5%2.2%
VWIV90.0%78.7%97.4%97.2%78.7%
Skew 25d13.4%-5.8%25.0%13.9%6.5%
Skew 10d33.5%-11.7%67.7%22.7%18.0%
Call IV 25d82.1%64.8%92.8%90.9%76.8%
Put IV 25d95.5%83.3%104.8%104.8%83.3%
Bid-Ask Spread %15.346.4122.3710.4312.95
Gamma HHI0.240.170.470.170.19
Net GEX256.5K44.9K503.6K44.9K450.2K
Net DEX-12.8M-29.2M1.7M1.7M-29.2M
Net VEX-184.9K-229.0K-149.5K-149.5K-229.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.540.111.190.320.26
Total Volume4,897.4291,21616,8011,2163,896
Total OI95,019.04871,735101,59698,74997,393

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-04-01$9.74$10.0093.2%26.7%113.1%50.2%97.2%13.9%4.5%44.9K1.7M-149.5K0.3210.43N/AN/A92329364,95333,796
2009-04-02$10.54$10.0096.3%27.6%108.0%52.9%94.1%13.6%3.2%94.5K-3.0M-167.9K0.406.41N/AN/A1,73869565,37133,923
2009-04-03$11.22$10.0097.2%28.2%108.5%53.7%93.7%18.9%-5.4%143.0K-7.3M-180.7K0.4711.64N/AN/A1,48069265,70934,406
2009-04-06$11.09$10.00100.6%28.6%108.9%56.7%97.4%14.6%-5.0%142.7K-6.9M-175.7K0.278.70N/AN/A1,04327965,88534,481
2009-04-07$10.43$10.0093.5%28.7%97.9%50.5%94.3%-5.8%-5.2%82.7K-2.6M-162.3K1.0711.57N/AN/A90797166,45634,536
2009-04-08$10.55$10.0091.0%27.9%98.0%48.3%89.6%10.8%-3.7%77.2K-3.1M-162.1K1.1913.25N/AN/A1,2501,48666,87834,547
2009-04-09$12.01$10.0088.4%25.3%106.1%46.0%92.0%25.0%-3.7%294.0K-14.3M-187.1K0.3317.02N/AN/A2,52384567,77233,687
2009-04-13$12.37$10.0092.3%26.5%105.5%49.5%92.7%15.9%-6.4%351.8K-17.5M-188.0K0.4922.10N/AN/A4,2612,10867,61533,981
2009-04-14$11.94$10.0091.8%26.3%106.8%49.0%94.2%18.1%-5.2%271.9K-13.8M-181.0K0.4617.34N/AN/A3,1861,45466,75434,124
2009-04-15$12.38$10.0090.0%25.8%107.1%47.5%92.0%15.8%-4.3%308.2K-15.9M-183.2K0.5714.19N/AN/A2,1551,23265,82334,728
2009-04-16$12.56$10.0092.7%26.6%106.9%49.8%92.5%16.4%-8.5%390.9K-16.6M-176.6K0.5922.37N/AN/A3,1941,88362,99833,693
2009-04-17$12.70$10.0090.1%25.8%106.4%47.5%89.4%17.3%-7.8%503.6K-19.9M-180.8K0.2821.58N/AN/A3,7941,07163,87033,817
2009-04-20$11.30$10.0089.6%25.7%111.2%47.1%91.1%16.8%-5.5%151.3K-6.7M-156.5K0.9614.99N/AN/A2,3842,29950,06121,674
2009-04-21$12.10$10.0095.7%27.4%104.2%52.4%95.3%11.9%-6.9%181.3K-10.5M-176.8K0.1716.45N/AN/A10,4601,72851,78022,689
2009-04-22$11.67$10.0092.0%26.4%105.3%49.2%88.7%13.9%-2.8%245.9K-10.9M-181.4K0.5312.42N/AN/A7,1093,79959,68723,466
2009-04-23$11.77$11.0084.0%24.1%104.9%42.2%85.5%12.1%2.8%255.0K-12.6M-195.1K0.6511.52N/AN/A3,5802,33363,77326,115
2009-04-24$12.98$11.0085.1%24.4%108.0%43.2%79.5%13.6%-1.2%312.9K-20.2M-215.3K0.1118.26N/AN/A15,1121,68964,19827,283
2009-04-27$12.41$11.0086.0%24.6%109.6%44.0%88.7%11.5%0.0%335.4K-17.2M-206.0K0.9221.17N/AN/A1,4691,35567,06827,660
2009-04-28$12.34$11.0083.9%24.1%93.2%42.2%84.8%10.0%-0.4%326.1K-16.2M-201.4K0.8019.58N/AN/A1,14091567,36228,466
2009-04-29$13.50$12.5079.0%22.6%96.1%37.9%78.9%10.6%1.2%423.1K-26.0M-225.6K0.5518.28N/AN/A2,6521,46367,92928,993
2009-04-30$13.80$12.5078.3%22.4%95.4%37.3%78.7%6.5%2.2%450.2K-29.2M-229.0K0.2612.95N/AN/A3,10179568,24929,144