TEX Options History — July 2012

In July 2012, TEX traded between $14.11 and $19.50. ATM implied volatility averaged 63.6%, placing in the 39.7% IV rank vs the trailing year. The 30-day expected move averaged 18.5%. IV traded below realized volatility by 13.6% (HV 20d: 77.2%). Max pain ranged from $16.00 to $19.00. Net GEX was positive for 10 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.92.

Notable Days

  • 2012-07-26: Highest Volume — 23,788 contracts
  • 2012-07-26: Largest IV drop — 32.5% change
  • 2012-07-25: Highest IV Rank — 59.2%
  • 2012-07-25: Largest Expected Move — 22.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$16.80$14.11$19.50$17.23$19.50
Max Pain$17.57$16.00$19.00$19.00$16.00
ATM IV63.6%51.4%77.4%58.3%55.3%
Expected Move18.5%14.7%22.2%16.7%15.8%
HV 20d77.2%59.4%111.7%79.1%109.1%
HV 60d74.7%70.4%88.9%72.1%88.2%
IV Rank39.7%21.2%59.2%35.3%26.8%
IV Percentile51.9%15.5%88.5%35.7%23.0%
Term Structure-2.0%-9.8%8.5%8.5%3.0%
VWIV64.2%52.5%74.2%58.3%55.3%
Skew 25d10.4%4.2%14.6%7.2%7.6%
Skew 10d21.7%7.8%32.9%13.4%26.0%
Call IV 25d59.4%47.5%70.7%54.3%50.6%
Put IV 25d69.7%56.0%83.3%61.5%58.2%
Bid-Ask Spread %13.269.5420.999.5411.92
Gamma HHI0.160.110.460.130.13
Net GEX100.9K-455.7K645.1K139.2K455.4K
Net DEX6.8M-33.0M34.0M7.4M-32.6M
Net VEX-253.9K-317.3K-191.5K-281.2K-279.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.920.152.520.882.52
Total Volume5,137.9051,25323,7881,7405,573
Total OI114,162.71479,360134,590117,93591,971

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2012-07-02$17.23$19.0058.3%16.7%79.1%35.3%58.3%7.2%8.5%139.2K7.4M-281.2K0.889.54N/AN/A92481663,90554,030
2012-07-03$18.62$19.0055.5%15.9%82.2%29.8%57.8%4.2%4.9%502.2K-11.6M-307.8K0.2310.25N/AN/A10,9622,57263,72554,145
2012-07-05$18.51$18.0058.6%16.8%73.6%34.1%59.7%5.2%3.1%645.1K-14.4M-317.3K1.3412.50N/AN/A1,1141,49469,86955,689
2012-07-06$17.80$18.0058.5%18.1%74.7%34.0%62.7%9.9%-2.1%444.3K-2.6M-299.2K0.4817.25N/AN/A99948370,10655,707
2012-07-09$17.65$18.0061.1%18.5%74.8%37.1%65.9%10.3%-1.9%398.6K-142.4K-288.5K0.7512.71N/AN/A1,02976870,38655,922
2012-07-10$16.47$18.0065.8%20.0%72.2%42.2%67.0%11.7%-4.0%28.5K17.8M-258.0K0.5516.72N/AN/A3,3691,85770,46256,280
2012-07-11$15.85$18.0063.9%19.9%69.7%39.5%71.5%12.7%-4.4%-127.4K25.6M-240.4K1.8313.16N/AN/A1,5552,85370,88356,688
2012-07-12$16.03$18.0069.5%19.9%69.4%47.7%69.4%10.3%-4.0%-114.7K23.3M-245.2K1.0211.90N/AN/A1,3311,36071,40557,398
2012-07-13$16.59$18.0064.3%18.4%67.8%40.1%63.9%11.1%-0.7%-57.8K16.8M-255.0K0.2012.39N/AN/A1,95439472,08157,954
2012-07-16$16.06$18.0067.7%19.4%67.1%45.0%65.4%13.0%-3.7%-182.4K24.3M-236.5K1.1610.44N/AN/A57967472,32357,941
2012-07-17$16.38$18.0066.9%19.2%67.3%43.9%66.0%11.8%-4.5%-179.0K21.2M-237.6K0.1512.40N/AN/A5,08476072,41957,968
2012-07-18$16.02$18.0065.2%18.7%66.4%41.4%64.8%11.9%-3.2%-100.8K24.2M-233.5K1.3211.57N/AN/A1,2901,70874,72558,202
2012-07-19$15.24$18.0069.2%19.8%67.9%47.2%69.0%12.5%-7.0%-353.3K34.0M-212.7K1.1012.70N/AN/A2,6142,86974,10358,856
2012-07-20$15.24$18.0069.7%20.0%64.1%47.9%68.3%14.6%-7.3%-455.7K31.8M-214.1K0.8211.10N/AN/A97179875,16859,422
2012-07-23$14.68$17.0072.5%20.8%65.0%52.0%69.6%13.5%-7.4%-81.2K16.7M-200.6K0.5016.74N/AN/A1,63181139,54239,818
2012-07-24$14.39$17.0076.1%21.8%59.4%57.3%73.4%12.0%-7.1%-89.4K18.5M-196.7K0.8116.34N/AN/A93075640,16840,209
2012-07-25$14.11$17.0077.4%22.2%59.5%59.2%74.2%12.5%-9.8%-88.5K18.8M-191.5K0.4920.99N/AN/A6,9683,40640,58940,037
2012-07-26$18.23$16.0052.2%15.0%110.7%22.3%56.2%9.1%3.7%351.0K-16.8M-265.4K0.3813.13N/AN/A17,2186,57046,01842,456
2012-07-27$19.15$16.0051.4%14.7%111.7%21.2%52.5%8.6%2.6%520.9K-33.0M-286.8K0.4314.23N/AN/A4,9192,09351,74044,421
2012-07-30$19.02$16.0057.1%16.4%109.8%29.5%58.0%8.3%0.4%464.6K-25.9M-284.8K2.2510.61N/AN/A1,1802,66049,52043,166
2012-07-31$19.50$16.0055.3%15.8%109.1%26.8%55.3%7.6%3.0%455.4K-32.6M-279.7K2.5211.92N/AN/A1,5813,99249,06042,911