TEX Options History — February 2014

In February 2014, TEX traded between $39.53 and $44.53. ATM implied volatility averaged 39.9%, placing in the 40.5% IV rank vs the trailing year. The 30-day expected move averaged 11.2%. IV traded below realized volatility by 5.2% (HV 20d: 45.1%). Max pain ranged from $35.00 to $35.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 1.75.

Notable Days

  • 2014-02-18: Highest Volume — 6,207 contracts
  • 2014-02-13: Largest IV drop — 22.4% change
  • 2014-02-10: Highest IV Rank — 69.8%
  • 2014-02-03: Largest Expected Move — 11.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.47$39.53$44.53$39.53$44.53
Max Pain$35.00$35.00$35.00$35.00$35.00
ATM IV39.9%30.4%50.2%47.0%30.4%
Expected Move11.2%10.8%11.5%11.5%10.8%
HV 20d45.1%40.8%49.0%40.8%41.0%
HV 60d33.9%32.1%35.0%32.1%35.0%
IV Rank40.5%13.5%69.8%60.8%13.5%
IV Percentile48.2%3.6%93.3%82.9%3.6%
Term Structure-1.8%-7.0%0.9%-5.4%0.7%
VWIV41.4%34.6%47.3%41.2%34.6%
Skew 25d4.5%3.8%5.4%4.0%4.2%
Skew 10d9.2%5.7%13.7%6.7%9.6%
Call IV 25d36.0%28.8%45.9%45.9%28.8%
Put IV 25d40.5%33.0%50.6%49.8%33.0%
Bid-Ask Spread %12.158.8816.1214.3510.48
Gamma HHI0.130.090.230.090.13
Net GEX658.1K153.7K1.5M153.7K1.0M
Net DEX-40.8M-54.0M-19.7M-19.7M-54.0M
Net VEX-241.0K-257.9K-226.6K-231.1K-231.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.750.347.901.887.90
Total Volume2,006.6327166,2071,9764,914
Total OI42,183.26337,05047,88537,05040,422

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-02-03$39.53$35.0047.0%11.5%40.8%60.8%41.2%4.0%-5.4%153.7K-19.7M-231.1K1.8814.35N/AN/A6871,28918,79318,257
2014-02-04$41.49$35.0045.9%11.4%42.3%57.4%36.3%5.1%-3.9%315.5K-30.9M-246.9K0.4812.97N/AN/A2,04398619,31119,376
2014-02-05$39.57$35.0047.9%11.4%45.8%63.4%40.0%5.1%-6.3%229.7K-20.3M-257.1K2.1316.12N/AN/A6481,37820,82419,805
2014-02-06$40.41$35.0047.4%11.5%45.5%61.9%42.7%4.7%-7.0%358.8K-26.5M-257.9K1.6413.15N/AN/A28546621,11719,688
2014-02-07$40.96$35.0047.1%11.5%45.7%61.1%0.0%5.4%-1.8%404.9K-30.2M-256.6K2.6712.84N/AN/A5351,42721,28719,998
2014-02-10$41.29$35.0050.2%11.4%45.8%69.8%0.0%4.6%-2.5%296.6K-31.8M-255.8K1.8711.87N/AN/A44483221,59921,242
2014-02-11$42.42$35.0049.6%11.4%46.0%68.1%46.9%4.5%-1.7%480.3K-41.1M-252.4K0.7011.87N/AN/A46532621,74021,508
2014-02-12$43.88$35.0049.8%11.3%46.9%68.8%45.0%5.3%-1.6%696.8K-52.8M-244.5K0.8611.02N/AN/A87975621,97421,588
2014-02-13$43.80$35.0038.7%11.1%46.5%37.1%38.3%4.3%-2.4%679.5K-52.1M-245.7K2.1411.15N/AN/A32369122,42822,069
2014-02-14$43.86$35.0038.1%11.1%46.4%35.4%39.1%4.3%-2.0%683.6K-52.4M-247.1K1.8512.75N/AN/A28552722,57222,373
2014-02-18$43.94$35.0039.4%11.0%46.4%39.2%41.2%5.4%-2.8%713.0K-53.6M-238.2K1.628.88N/AN/A2,3693,83822,66122,509
2014-02-19$42.15$35.0033.7%11.1%48.9%22.8%47.0%4.0%-0.4%487.0K-37.6M-235.9K0.7312.59N/AN/A1,9131,40423,93923,946
2014-02-20$43.25$35.0032.8%11.1%49.0%20.4%47.3%4.2%-0.0%867.5K-48.6M-230.8K1.1211.53N/AN/A9971,11723,62624,175
2014-02-21$42.12$35.0032.7%11.2%49.0%20.1%0.0%4.0%0.7%1.5M-37.8M-228.4K0.5512.47N/AN/A62034123,89223,899
2014-02-24$43.04$35.0031.6%11.0%43.2%17.0%39.2%4.7%0.9%880.3K-43.8M-226.6K0.3411.94N/AN/A92531119,84217,382
2014-02-25$43.04$35.0032.0%11.0%43.2%18.1%45.0%4.1%0.5%943.1K-43.9M-228.6K1.0711.27N/AN/A77082220,39617,536
2014-02-26$43.60$35.0031.8%10.8%42.2%17.3%42.7%4.6%0.5%985.3K-47.8M-229.7K3.1812.98N/AN/A4301,36720,86118,302
2014-02-27$44.14$35.0032.0%10.8%41.7%18.0%35.1%3.8%0.3%855.6K-50.2M-235.2K0.6210.54N/AN/A44127521,03619,509
2014-02-28$44.53$35.0030.4%10.8%41.0%13.5%34.6%4.2%0.7%1.0M-54.0M-231.1K7.9010.48N/AN/A5524,36221,31219,110