TEX Options History — December 2009

In December 2009, TEX traded between $18.42 and $21.45. ATM implied volatility averaged 48.4%, placing in the 2.9% IV rank vs the trailing year. The 30-day expected move averaged 14.0%. IV traded above realized volatility by 6.5% (HV 20d: 41.8%). Max pain ranged from $17.50 to $21.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.49.

Notable Days

  • 2009-12-21: Highest Volume — 22,176 contracts
  • 2009-12-10: Largest IV spike — 9.3% change
  • 2009-12-01: Highest IV Rank — 6.2%
  • 2009-12-07: Largest Expected Move — 15.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.60$18.42$21.45$19.42$19.81
Max Pain$17.98$17.50$21.00$21.00$17.50
ATM IV48.4%42.2%53.6%53.6%43.4%
Expected Move14.0%12.1%15.5%15.4%12.4%
HV 20d41.8%32.7%47.8%47.8%42.7%
HV 60d53.3%49.3%55.1%55.1%49.4%
IV Rank2.9%0.0%6.2%6.2%1.5%
IV Percentile1.0%0.0%2.8%2.8%0.4%
Term Structure3.7%1.6%6.2%2.4%6.2%
VWIV48.6%43.3%55.1%51.9%43.3%
Skew 25d4.9%2.1%8.0%6.6%5.0%
Skew 10d10.5%4.7%17.4%10.2%8.0%
Call IV 25d47.5%41.7%52.9%51.1%43.1%
Put IV 25d52.4%46.3%57.8%57.7%48.0%
Bid-Ask Spread %8.724.9517.9915.264.95
Gamma HHI0.220.190.270.200.27
Net GEX1.2M494.8K2.2M705.5K1.6M
Net DEX-29.3M-68.7M-6.8M-23.1M-31.0M
Net VEX-274.5K-303.8K-229.3K-303.8K-229.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.490.021.470.700.90
Total Volume3,446.90969522,1762,896895
Total OI152,041.727143,366164,324143,366152,226

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-12-01$19.42$21.0053.6%15.4%47.8%6.2%51.9%6.6%2.4%705.5K-23.1M-303.8K0.7015.26N/AN/A1,7041,19288,69454,672
2009-12-02$19.35$21.0052.2%15.0%45.2%4.4%51.4%4.1%2.8%714.0K-23.0M-300.5K0.4616.08N/AN/A1,70078889,21955,255
2009-12-03$19.04$21.0051.9%14.9%45.4%4.0%49.1%3.9%2.2%648.9K-18.1M-292.2K0.3717.99N/AN/A99537190,16455,432
2009-12-04$19.13$17.5050.9%15.4%45.1%2.7%53.3%5.8%2.7%681.6K-19.1M-292.1K0.2011.16N/AN/A1,92838190,29755,404
2009-12-07$19.31$17.5052.3%15.5%44.6%4.6%53.3%5.1%1.6%774.8K-21.8M-290.2K0.026.53N/AN/A5,91410391,74755,509
2009-12-08$18.77$17.5050.9%15.4%39.9%2.7%55.1%4.5%2.7%622.3K-14.3M-277.6K0.279.34N/AN/A1,49040694,04155,580
2009-12-09$18.59$17.5047.3%15.3%39.8%0.0%52.5%5.6%2.5%561.6K-10.2M-272.7K0.4510.35N/AN/A1,36260994,48355,730
2009-12-10$18.42$17.5051.7%14.8%38.4%5.7%50.7%7.6%4.3%519.9K-7.5M-258.5K0.898.67N/AN/A4,4163,92394,64555,623
2009-12-11$18.64$17.5051.0%14.6%38.6%4.9%51.7%5.8%3.7%627.8K-11.7M-275.9K0.427.50N/AN/A57523997,79058,462
2009-12-14$18.67$17.5051.1%14.7%38.4%5.0%51.2%6.5%3.3%598.6K-11.1M-267.8K0.488.46N/AN/A90643196,98958,448
2009-12-15$18.44$17.5049.9%14.3%32.7%3.4%49.4%8.0%5.0%494.8K-6.8M-254.4K0.468.79N/AN/A61128097,51058,507
2009-12-16$19.33$17.5049.6%14.2%38.3%3.0%48.8%3.5%3.9%958.2K-24.0M-270.8K0.048.98N/AN/A10,82438397,26057,982
2009-12-17$19.32$17.5048.7%14.0%38.3%1.8%48.2%4.8%4.8%1.2M-25.5M-275.2K0.367.63N/AN/A793285105,83758,070
2009-12-18$19.21$17.5047.0%13.5%35.7%0.0%47.5%3.2%5.8%1.0M-23.2M-266.1K0.887.82N/AN/A474416106,17358,151
2009-12-21$20.94$17.5045.9%13.2%46.0%0.0%45.8%2.1%2.7%2.0M-57.1M-295.6K0.166.00N/AN/A19,1273,04998,85953,405
2009-12-22$21.45$17.5044.5%12.8%45.2%0.0%44.3%3.0%3.8%2.2M-68.7M-301.1K0.135.90N/AN/A2,31129398,17954,977
2009-12-23$21.15$17.5042.2%12.1%45.3%0.0%43.5%4.8%5.8%2.1M-61.4M-287.2K1.026.19N/AN/A94896897,61855,112
2009-12-24$21.24$17.5043.5%12.5%45.0%1.5%45.1%3.5%4.7%2.1M-62.1M-282.4K0.416.33N/AN/A60024495,87855,354
2009-12-28$20.55$17.5045.3%13.0%43.0%3.8%45.9%4.7%3.9%1.9M-47.6M-258.2K1.476.12N/AN/A7821,15296,14255,351
2009-12-29$20.29$17.5045.8%13.1%43.2%4.4%44.6%5.7%3.4%1.7M-39.1M-246.5K0.375.65N/AN/A92934095,80156,243
2009-12-30$20.21$17.5045.3%13.0%42.1%3.7%43.4%4.2%3.4%1.7M-38.0M-241.7K0.436.11N/AN/A48521095,83556,264
2009-12-31$19.81$17.5043.4%12.4%42.7%1.5%43.3%5.0%6.2%1.6M-31.0M-229.3K0.904.95N/AN/A47042595,93156,295