TEX Options History — August 2018

In August 2018, TEX traded between $36.93 and $41.21. ATM implied volatility averaged 30.3%, placing in the 12.5% IV rank vs the trailing year. The 30-day expected move averaged 8.5%. IV traded below realized volatility by 14.8% (HV 20d: 45.1%). Max pain ranged from $39.00 to $44.00. Net GEX was positive for 10 of 23 trading days. Term structure was in contango for 19 of 23 days. Put/call ratio averaged 1.20.

Notable Days

  • 2018-08-30: Highest Volume — 2,642 contracts
  • 2018-08-13: Largest IV spike — 20.2% change
  • 2018-08-13: Highest IV Rank — 35.5%
  • 2018-08-01: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.95$36.93$41.21$39.84$38.71
Max Pain$40.74$39.00$44.00$44.00$40.00
ATM IV30.3%25.9%38.5%33.2%26.4%
Expected Move8.5%7.4%9.5%9.5%7.6%
HV 20d45.1%26.8%50.5%49.5%26.8%
HV 60d37.2%36.4%37.8%36.7%36.4%
IV Rank12.5%0.1%35.5%20.7%1.5%
IV Percentile30.6%0.8%81.0%54.0%2.4%
Term Structure1.5%-1.7%3.6%-1.7%3.6%
VWIV28.2%25.4%33.3%33.3%25.7%
Skew 25d4.5%2.8%6.1%4.8%3.1%
Skew 10d10.0%5.7%17.7%9.9%5.7%
Call IV 25d27.5%24.7%32.0%32.0%26.1%
Put IV 25d32.0%28.6%36.7%36.7%29.1%
Bid-Ask Spread %16.634.1423.274.1423.27
Gamma HHI0.140.080.420.420.23
Net GEX7.3K-264.3K242.2K-264.3K242.2K
Net DEX2.0M-1.8M6.6M3.9M-636.3K
Net VEX-26.0K-30.1K-22.1K-29.1K-29.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.200.392.132.060.41
Total Volume1,834.5651,2232,6422,5472,624
Total OI8,055.0876,5639,5878,2538,501

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-08-01$39.84$44.0033.2%9.5%49.5%20.7%33.3%4.8%-1.7%-264.3K3.9M-29.1K2.064.14N/AN/A8321,7154,7023,551
2018-08-02$41.21$43.0030.0%8.6%50.1%11.7%30.4%6.1%-0.3%81.1K-635.0K-30.1K0.8614.27N/AN/A9147834,9782,752
2018-08-03$40.37$43.0030.9%8.9%50.5%14.2%30.1%4.9%-0.3%-18.0K1.1M-28.4K1.0118.43N/AN/A7948025,1672,850
2018-08-06$40.27$41.0030.4%8.7%47.7%12.7%29.5%4.1%0.7%-34.6K1.1M-28.3K1.0418.44N/AN/A6907195,2062,915
2018-08-07$40.00$41.0031.2%8.6%47.7%14.9%29.0%4.6%1.7%-69.4K1.7M-27.2K0.9815.51N/AN/A7347225,2742,928
2018-08-08$38.90$41.0031.6%8.6%48.2%16.3%28.4%4.6%1.5%-108.6K3.6M-23.8K1.1316.62N/AN/A9871,1185,2732,981
2018-08-09$38.40$41.0034.1%8.9%47.8%23.1%29.5%4.9%0.9%-59.2K4.5M-23.5K1.3417.61N/AN/A8071,0795,4253,141
2018-08-10$37.90$41.0032.0%9.0%45.6%17.4%29.1%5.7%-0.0%-52.9K5.3M-22.1K1.3117.64N/AN/A8181,0715,4883,230
2018-08-13$38.00$41.0038.5%9.0%44.9%35.5%29.4%4.9%1.2%-47.6K5.1M-22.3K2.1210.97N/AN/A7381,5635,5913,299
2018-08-14$38.11$41.0035.1%8.7%44.6%26.1%28.9%4.2%1.1%-57.2K5.6M-24.2K1.5214.26N/AN/A7711,1715,6033,803
2018-08-15$36.93$41.0033.0%9.5%45.2%20.0%33.1%5.5%0.5%-55.2K6.6M-22.3K1.8815.18N/AN/A7921,4875,6373,767
2018-08-16$37.80$40.0030.5%8.7%46.6%13.0%27.6%4.5%1.3%-26.9K5.0M-23.1K1.9011.58N/AN/A6411,2175,6433,843
2018-08-17$38.40$40.0030.2%8.6%47.3%12.1%27.1%4.3%2.1%20.5K4.3M-24.3K2.1315.19N/AN/A6901,4715,7163,871
2018-08-20$38.95$40.0028.5%8.2%47.8%7.4%26.5%3.8%2.3%15.3K434.0K-26.0K1.3019.33N/AN/A6198033,8272,736
2018-08-21$39.53$39.0027.6%7.9%48.3%4.9%27.1%4.1%2.5%67.5K-705.0K-27.0K1.0516.74N/AN/A6086383,9722,689
2018-08-22$38.94$40.0028.6%8.2%48.3%7.6%26.8%4.6%2.7%35.5K132.4K-26.8K1.0218.39N/AN/A6586704,1252,854
2018-08-23$37.95$40.0028.1%8.0%48.4%6.3%27.7%3.9%3.0%-17.8K1.3M-25.6K1.1715.85N/AN/A5636614,2042,909
2018-08-24$38.50$40.0028.4%8.2%48.9%7.3%26.7%5.1%1.8%-74789.3K-25.6K1.1621.78N/AN/A5676564,1952,928
2018-08-27$39.18$40.0027.7%7.9%48.8%5.2%25.6%4.3%1.9%48.6K-274.9K-26.0K0.4919.85N/AN/A1,3316574,2212,923
2018-08-28$39.46$40.0027.5%7.9%46.8%4.7%25.9%4.4%2.0%160.8K-1.2M-27.7K0.7120.55N/AN/A9947064,5102,922
2018-08-29$39.78$40.0025.9%7.4%29.3%0.1%25.4%3.9%3.0%194.6K-1.8M-28.5K0.7018.00N/AN/A9866864,5792,946
2018-08-30$38.82$40.0027.5%7.9%27.6%4.6%26.3%2.8%2.3%114.3K-275.3K-27.4K0.3918.87N/AN/A1,9077354,6182,974
2018-08-31$38.71$40.0026.4%7.6%26.8%1.5%25.7%3.1%3.6%242.2K-636.3K-29.4K0.4123.27N/AN/A1,8667585,4683,033