TEX Options History — September 2015

In September 2015, TEX traded between $16.85 and $22.48. ATM implied volatility averaged 51.9%, placing in the 60.2% IV rank vs the trailing year. The 30-day expected move averaged 14.6%. IV traded above realized volatility by 0.8% (HV 20d: 51.1%). Max pain ranged from $19.00 to $20.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 1.22.

Notable Days

  • 2015-09-03: Highest Volume — 12,488 contracts
  • 2015-09-22: Largest IV spike — 29.2% change
  • 2015-09-28: Highest IV Rank — 98.3%
  • 2015-09-28: Largest Expected Move — 19.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.81$16.85$22.48$22.35$17.99
Max Pain$19.10$19.00$20.00$20.00$19.00
ATM IV51.9%40.4%68.0%57.7%49.0%
Expected Move14.6%11.6%19.5%16.5%14.1%
HV 20d51.1%35.3%88.6%88.1%37.2%
HV 60d57.5%56.8%58.8%56.9%58.8%
IV Rank60.2%32.7%98.3%75.8%50.8%
IV Percentile91.5%63.1%99.6%99.2%89.3%
Term Structure-4.3%-16.9%3.5%-11.2%2.7%
VWIV51.6%38.4%72.4%72.4%54.1%
Skew 25d11.1%0.4%24.0%18.6%5.2%
Skew 10d31.3%-6.4%154.2%27.8%11.3%
Call IV 25d46.4%38.6%56.6%47.4%51.1%
Put IV 25d57.6%48.3%80.6%66.0%56.3%
Bid-Ask Spread %80.7837.43112.19108.1891.08
Gamma HHI0.260.130.410.150.32
Net GEX178.5K-122.6K332.9K332.9K177.7K
Net DEX9.5M-7.2M20.8M-4.9M19.4M
Net VEX-109.8K-169.6K-64.9K-169.6K-74.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.220.233.880.232.52
Total Volume7,127.38113212,4889,9685,197
Total OI56,242.90548,86661,27959,04151,501

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-09-01$22.35$20.0057.7%16.5%88.1%75.8%72.4%18.6%-11.2%332.9K-4.9M-169.6K0.23108.18N/AN/A8,0711,89738,30720,734
2015-09-02$22.48$20.0052.0%14.9%88.1%63.2%65.7%0.4%-3.9%323.3K-7.2M-164.6K0.51112.19N/AN/A8,2254,21038,48920,734
2015-09-03$21.99$19.0054.0%13.2%88.6%67.6%43.5%7.4%-3.7%306.7K-3.3M-156.1K0.5448.31N/AN/A8,0914,39738,80520,403
2015-09-04$21.69$19.0056.4%13.0%88.3%73.0%49.5%6.5%-2.0%259.9K1.2M-151.2K0.3049.27N/AN/A8,0782,42938,99320,638
2015-09-08$21.95$19.0045.4%12.3%86.8%46.6%41.3%5.3%0.4%210.1K-1.8M-147.8K0.6548.85N/AN/A805239,01120,649
2015-09-09$21.33$19.0045.9%13.2%42.0%46.0%47.2%8.3%-1.7%129.9K823.7K-135.6K0.3137.43N/AN/A8,0102,48739,07620,670
2015-09-10$20.96$19.0047.1%13.5%42.0%48.7%50.1%6.7%-3.9%162.8K4.1M-129.4K0.3140.52N/AN/A7,9722,47939,15920,620
2015-09-11$20.65$19.0047.4%13.6%41.2%49.4%49.0%9.6%-3.6%129.8K6.5M-122.4K0.3041.12N/AN/A7,9222,38839,16720,632
2015-09-14$20.34$19.0049.5%14.2%40.3%54.3%54.1%6.2%-2.2%103.7K7.6M-115.6K0.3490.80N/AN/A7,9472,67039,19020,657
2015-09-15$20.58$19.0053.6%15.4%40.8%64.2%48.9%6.4%-11.0%181.7K8.8M-112.4K1.41100.31N/AN/A8512039,21620,709
2015-09-16$20.71$19.0051.2%14.7%41.2%58.4%38.4%23.4%-9.9%-122.6K6.9M-116.2K0.3399.42N/AN/A6,9592,28739,29620,829
2015-09-17$19.84$19.0043.4%12.5%42.5%40.0%46.3%13.5%-1.5%179.9K13.6M-102.0K0.94109.54N/AN/A3,2513,04839,46520,838
2015-09-18$19.49$19.0044.0%12.6%41.4%41.4%43.6%11.0%-0.3%247.1K15.4M-100.6K0.6692.44N/AN/A4,0472,65339,65121,628
2015-09-21$18.96$19.0040.4%11.6%38.9%32.7%40.2%16.4%3.5%269.1K15.7M-88.9K0.7392.31N/AN/A3,0612,22632,08516,781
2015-09-22$18.15$19.0052.1%14.9%39.2%59.3%47.5%19.4%-4.5%247.0K17.9M-73.9K2.0086.39N/AN/A1,0852,16832,36916,527
2015-09-23$17.80$19.0051.5%14.8%39.3%57.6%50.3%14.7%-4.0%227.9K18.9M-67.6K3.8885.63N/AN/A1,1304,38232,47016,546
2015-09-24$16.85$19.0063.2%18.1%38.8%86.5%57.1%12.8%-4.3%69.6K20.8M-64.9K2.3090.33N/AN/A1,5993,67632,55218,485
2015-09-25$17.16$19.0066.5%19.1%35.5%94.7%65.2%11.4%-12.6%92.4K20.0M-69.3K2.5892.05N/AN/A1,4863,84132,49918,710
2015-09-28$17.04$19.0068.0%19.5%35.3%98.3%64.2%24.0%-16.9%83.0K20.8M-67.7K2.3688.42N/AN/A1,4793,48632,58618,942
2015-09-29$17.64$19.0051.1%14.7%37.3%56.0%53.8%7.0%-0.7%136.4K19.1M-75.8K2.4891.86N/AN/A1,4383,56632,59118,891
2015-09-30$17.99$19.0049.0%14.1%37.2%50.8%54.1%5.2%2.7%177.7K19.4M-74.5K2.5291.08N/AN/A1,4763,72132,62318,878