TEX Options History — March 2019

In March 2019, TEX traded between $31.55 and $34.25. ATM implied volatility averaged 33.4%, placing in the 18.0% IV rank vs the trailing year. The 30-day expected move averaged 10.5%. IV traded above realized volatility by 1.6% (HV 20d: 31.8%). Max pain ranged from $31.00 to $34.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.82.

Notable Days

  • 2019-03-07: Highest Volume — 1,240 contracts
  • 2019-03-12: Largest IV drop — 10.6% change
  • 2019-03-04: Highest IV Rank — 27.5%
  • 2019-03-28: Largest Expected Move — 11.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.03$31.55$34.25$34.25$32.11
Max Pain$32.65$31.00$34.00$31.00$33.00
ATM IV33.4%30.3%37.4%34.6%32.0%
Expected Move10.5%9.7%11.2%9.9%11.1%
HV 20d31.8%19.0%39.6%38.6%19.0%
HV 60d36.0%33.5%40.0%40.0%33.5%
IV Rank18.0%10.5%27.5%20.9%14.6%
IV Percentile32.9%8.7%47.2%38.5%28.2%
Term Structure3.8%-1.2%6.8%-1.2%6.5%
VWIV35.5%24.3%39.3%32.8%35.9%
Skew 25d4.2%2.1%5.3%2.1%4.2%
Skew 10d10.5%6.9%15.9%11.3%11.7%
Call IV 25d31.1%28.5%33.6%33.6%29.8%
Put IV 25d35.3%32.6%37.7%35.7%33.9%
Bid-Ask Spread %27.2513.6356.8217.8417.84
Gamma HHI0.170.090.450.170.11
Net GEX152.7K-37.5K432.9K372.1K-8.3K
Net DEX-2.0M-7.0M1.2M-7.0M289.2K
Net VEX-26.2K-37.6K-20.3K-37.6K-23.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.820.162.390.490.87
Total Volume568.333931,240694424
Total OI9,756.0485,79213,50513,0267,141

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-03-01$34.25$31.0034.6%9.9%38.6%20.9%32.8%2.1%-1.2%372.1K-7.0M-37.6K0.4917.84N/AN/A4672277,4555,571
2019-03-04$33.75$31.0037.4%10.7%39.3%27.5%37.9%4.6%1.5%327.8K-5.4M-34.8K1.5422.75N/AN/A1892927,4305,569
2019-03-05$34.09$31.0037.2%10.7%39.0%27.1%35.2%3.9%1.3%362.6K-6.5M-34.9K0.1656.82N/AN/A8931417,4835,786
2019-03-06$34.07$31.0035.2%10.1%39.0%22.2%32.1%4.0%1.7%383.3K-6.0M-33.7K0.1628.77N/AN/A9941607,6665,839
2019-03-07$34.05$32.0036.0%10.3%39.0%24.1%33.4%4.9%1.4%275.9K-4.9M-31.5K0.2138.79N/AN/A1,0232176,6335,850
2019-03-08$33.58$32.0035.0%10.0%38.9%21.9%24.3%5.2%2.0%267.3K-3.4M-30.3K0.1732.22N/AN/A1,0001756,6605,849
2019-03-11$34.03$33.0036.0%10.1%38.8%24.2%33.6%3.8%2.6%363.1K-4.7M-27.4K1.0240.27N/AN/A90926,5645,856
2019-03-12$33.66$33.0032.2%10.0%39.1%15.1%36.8%5.2%2.5%372.2K-3.0M-26.0K0.2938.52N/AN/A72216,5445,856
2019-03-13$33.51$34.0031.6%9.8%38.9%13.7%35.0%4.0%2.5%432.9K-2.3M-23.6K0.2739.03N/AN/A124346,4895,799
2019-03-14$32.86$34.0032.5%10.0%39.6%15.9%35.8%4.2%2.2%154.1K-552.3K-21.2K0.9437.13N/AN/A1551466,4665,730
2019-03-15$32.75$34.0030.8%9.7%39.6%11.8%34.6%3.2%3.0%5.6K-1.4M-20.3K1.2139.09N/AN/A2382896,4645,377
2019-03-18$33.31$0.0030.3%10.6%38.9%10.5%36.8%4.0%6.7%21.9K-442.9K-21.6K0.7818.11N/AN/A2582013,2622,530
2019-03-19$33.03$33.0031.4%10.7%22.9%13.1%37.3%4.0%6.3%14.7K-316.8K-22.8K0.9320.96N/AN/A2942723,4282,715
2019-03-20$32.75$33.0031.3%10.8%22.8%13.1%37.4%3.3%6.3%-1.2K42.0K-23.4K2.0323.10N/AN/A1773593,5392,806
2019-03-21$32.77$33.0030.9%10.7%22.8%11.9%37.3%4.0%6.8%657-20.9K-23.4K1.2421.53N/AN/A2332883,5802,861
2019-03-22$31.76$33.0033.1%11.0%24.8%17.4%38.3%4.0%5.2%-37.5K1.1M-22.5K1.0718.72N/AN/A2702903,6742,853
2019-03-25$31.93$33.0034.4%11.2%22.9%20.3%39.3%5.1%5.0%-28.8K874.9K-22.4K2.3914.25N/AN/A1754193,7262,881
2019-03-26$31.55$33.0033.0%11.1%22.1%17.0%37.4%4.5%5.8%-37.4K1.2M-22.3K0.3016.37N/AN/A318943,8652,945
2019-03-27$31.86$33.0033.5%11.2%21.6%18.2%36.8%4.6%5.9%-19.3K687.1K-23.6K0.5116.42N/AN/A2691384,0672,988
2019-03-28$32.00$33.0033.5%11.2%20.5%18.1%38.1%5.3%5.7%-14.4K458.0K-23.3K0.6013.63N/AN/A2601574,1072,973
2019-03-29$32.11$33.0032.0%11.1%19.0%14.6%35.9%4.2%6.5%-8.3K289.2K-23.2K0.8717.84N/AN/A2271974,1403,001