TEX Options History — April 2018

In April 2018, TEX traded between $35.82 and $40.44. ATM implied volatility averaged 42.2%, placing in the 45.7% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded above realized volatility by 3.9% (HV 20d: 38.3%). Max pain ranged from $37.00 to $38.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 1.37.

Notable Days

  • 2018-04-13: Highest Volume — 7,187 contracts
  • 2018-04-24: Largest IV spike — 13.4% change
  • 2018-04-30: Highest IV Rank — 59.1%
  • 2018-04-30: Largest Expected Move — 13.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.76$35.82$40.44$35.82$36.74
Max Pain$37.48$37.00$38.00$38.00$37.00
ATM IV42.2%38.4%46.9%44.7%46.9%
Expected Move12.2%11.0%13.5%12.8%13.5%
HV 20d38.3%32.1%41.6%38.0%37.6%
HV 60d37.1%35.0%39.4%35.0%39.4%
IV Rank45.7%35.1%59.1%52.8%59.1%
IV Percentile92.6%79.0%98.4%97.6%98.4%
Term Structure-4.4%-7.6%2.2%-1.5%-7.6%
VWIV43.1%36.6%53.4%43.5%53.4%
Skew 25d5.9%4.2%8.1%6.2%7.4%
Skew 10d15.0%10.0%32.2%12.5%14.1%
Call IV 25d39.6%35.9%43.7%43.4%43.7%
Put IV 25d45.5%40.6%51.1%49.6%51.1%
Bid-Ask Spread %34.6421.6246.7336.3224.48
Gamma HHI0.200.140.320.140.17
Net GEX772.9K133.3K2.3M400.2K171.0K
Net DEX-3.9M-20.2M3.1M2.3M1.1M
Net VEX-40.8K-48.5K-30.3K-37.5K-43.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.370.093.880.223.18
Total Volume2,506.6191,1747,1873,7152,614
Total OI16,774.819,90422,44416,47514,329

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-04-02$35.82$38.0044.7%12.8%38.0%52.8%43.5%6.2%-1.5%400.2K2.3M-37.5K0.2236.32N/AN/A3,04966612,5543,921
2018-04-03$36.70$38.0041.6%11.9%39.1%44.2%39.8%8.1%-0.3%531.2K463.4K-39.6K0.4030.79N/AN/A1,63765212,5793,941
2018-04-04$37.07$38.0040.4%11.6%38.1%40.7%39.4%7.4%2.2%571.1K225.1K-38.1K1.0423.40N/AN/A60462812,5813,941
2018-04-05$37.44$37.0039.3%12.2%37.1%37.7%41.6%5.7%-5.1%675.6K-962.1K-39.2K0.8935.41N/AN/A71763712,5233,963
2018-04-06$36.12$37.0041.1%12.8%38.3%42.8%43.4%5.8%-6.4%370.9K3.1M-32.3K1.0146.73N/AN/A65966712,6063,982
2018-04-09$36.32$37.0043.5%12.6%36.3%49.5%43.3%4.2%-5.5%379.8K3.1M-30.3K0.9445.19N/AN/A1,0771,01612,6444,046
2018-04-10$37.38$37.0041.1%11.7%37.6%42.8%42.8%7.0%-3.0%665.1K-888.0K-36.9K1.4046.32N/AN/A7411,04113,0864,325
2018-04-11$37.40$37.0041.6%11.9%37.6%44.1%42.9%6.4%-4.2%689.8K-833.0K-36.2K1.5033.23N/AN/A65698713,1234,363
2018-04-12$38.28$37.0041.4%11.9%38.1%43.7%41.1%4.2%-4.4%1.0M-4.5M-37.2K1.0242.25N/AN/A58059413,1384,383
2018-04-13$38.60$37.0041.1%11.8%38.3%42.8%39.7%6.0%-5.1%1.1M-5.5M-37.0K0.0937.56N/AN/A6,58560213,1904,410
2018-04-16$39.15$37.0041.6%11.9%38.6%44.2%40.5%5.4%-5.8%1.5M-11.0M-46.9K0.2732.03N/AN/A2,60471216,2894,445
2018-04-17$39.83$37.0038.5%11.0%39.0%35.3%36.6%6.0%-3.1%1.9M-15.1M-48.5K1.2645.12N/AN/A78999116,3844,612
2018-04-18$40.44$37.0038.4%11.0%39.3%35.1%40.0%4.6%-3.4%2.3M-20.2M-47.5K0.3735.43N/AN/A2,34387216,4484,881
2018-04-19$39.76$38.0040.9%11.7%39.9%42.3%39.9%7.0%-5.6%1.8M-14.4M-48.1K0.7634.39N/AN/A98674817,0345,060
2018-04-20$39.46$38.0041.5%11.9%34.1%44.0%41.6%4.6%-5.5%604.3K-11.6M-45.5K0.8932.07N/AN/A99188517,3605,084
2018-04-23$39.45$38.0040.6%11.6%32.1%41.3%40.6%5.7%-2.9%620.6K-7.5M-43.5K0.7825.01N/AN/A8276437,6722,232
2018-04-24$36.60$38.0046.0%13.2%41.3%56.5%48.5%6.1%-6.3%356.4K-1.4M-35.0K3.7845.26N/AN/A8213,1068,0472,312
2018-04-25$36.99$38.0046.2%13.2%41.5%57.0%48.2%4.5%-6.2%273.8K-1.2M-45.4K3.8827.74N/AN/A7552,9278,4004,542
2018-04-26$36.54$38.0044.9%12.9%41.6%53.3%50.2%6.2%-5.7%133.3K1.6M-44.4K2.3321.62N/AN/A7881,8338,4765,388
2018-04-27$36.96$38.0044.1%12.7%41.0%51.2%48.9%5.3%-6.9%176.6K755.0K-44.0K2.7227.11N/AN/A7011,9088,5005,477
2018-04-30$36.74$37.0046.9%13.5%37.6%59.1%53.4%7.4%-7.6%171.0K1.1M-43.1K3.1824.48N/AN/A6251,9898,7625,567