TEX Options History — February 2021

In February 2021, TEX traded between $36.30 and $43.18. ATM implied volatility averaged 55.9%, placing in the 24.3% IV rank vs the trailing year. The 30-day expected move averaged 15.6%. IV traded above realized volatility by 5.7% (HV 20d: 50.2%). Max pain ranged from $33.00 to $40.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 1.03.

Notable Days

  • 2021-02-11: Highest Volume — 1,530 contracts
  • 2021-02-08: Largest IV spike — 15.1% change
  • 2021-02-08: Highest IV Rank — 42.2%
  • 2021-02-01: Largest Expected Move — 18.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$39.50$36.30$43.18$36.53$41.67
Max Pain$36.53$33.00$40.00$35.00$40.00
ATM IV55.9%49.5%68.2%63.5%50.3%
Expected Move15.6%14.2%18.2%18.2%14.4%
HV 20d50.2%44.3%55.2%55.2%44.3%
HV 60d47.5%44.8%57.4%57.4%45.5%
IV Rank24.3%3.6%42.2%36.6%3.6%
IV Percentile38.2%8.3%79.0%70.6%9.1%
Term Structure-1.4%-5.6%1.8%-5.6%1.8%
VWIV54.4%49.9%64.3%64.3%51.1%
Skew 25d1.2%-0.7%3.3%2.2%1.7%
Skew 10d4.2%-9.5%19.5%9.1%11.9%
Call IV 25d53.9%48.9%62.7%62.7%51.5%
Put IV 25d55.1%50.3%64.8%64.8%53.2%
Bid-Ask Spread %39.9921.6357.2243.2057.22
Gamma HHI0.280.140.780.150.16
Net GEX218.8K-114.8K901.5K129.8K113.0K
Net DEX-6.6M-11.2M-4.1M-4.4M-6.1M
Net VEX-16.6K-20.2K-14.5K-15.9K-15.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.030.018.960.690.40
Total Volume441.053541,5306680
Total OI4,612.7373,1717,4013,5573,485

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-02-01$36.53$35.0063.5%18.2%55.2%36.6%64.3%2.2%-5.6%129.8K-4.4M-15.9K0.6943.20N/AN/A39272,694863
2021-02-02$36.66$36.0061.0%17.5%54.8%33.5%60.8%1.8%-5.2%134.3K-4.5M-15.8K1.6246.30N/AN/A631022,721883
2021-02-03$36.30$35.0061.9%17.8%54.5%34.7%62.4%2.4%-5.1%125.4K-4.2M-15.9K1.0041.71N/AN/A59592,768985
2021-02-04$37.90$33.0059.4%15.7%48.5%31.6%55.6%1.1%-1.4%150.6K-5.3M-16.2K0.1221.63N/AN/A215252,7951,044
2021-02-05$38.07$33.0059.3%15.5%48.5%31.5%54.2%3.3%-0.7%171.7K-5.8M-17.0K0.1026.87N/AN/A4952,9741,070
2021-02-08$39.65$33.0068.2%16.0%50.2%42.2%55.5%0.6%-2.1%180.7K-7.1M-16.3K0.0528.07N/AN/A1,259593,0091,072
2021-02-09$39.37$36.0064.9%15.9%50.3%38.2%55.4%-0.6%-1.9%284.6K-8.2M-19.2K0.1431.13N/AN/A441613,8071,118
2021-02-10$39.03$36.0055.6%15.9%49.7%27.0%54.5%0.4%-2.5%312.0K-8.0M-19.3K0.0130.48N/AN/A38954,0101,179
2021-02-11$38.57$36.0054.4%15.6%47.2%25.7%54.1%2.5%-1.6%306.3K-7.2M-18.9K4.8231.28N/AN/A2631,2673,9771,190
2021-02-12$39.11$36.0049.5%14.2%47.0%19.7%49.9%1.4%0.6%226.4K-6.7M-20.2K0.3134.76N/AN/A196604,1092,269
2021-02-16$40.40$36.0051.6%14.8%47.9%22.2%52.3%0.6%0.5%393.5K-9.7M-16.9K0.2638.01N/AN/A5031334,0842,259
2021-02-17$39.93$36.0052.0%14.9%47.2%22.1%52.0%0.9%-0.6%431.8K-8.6M-17.0K0.0739.84N/AN/A152114,0382,291
2021-02-18$38.34$37.0051.2%14.7%49.6%20.8%51.4%-0.7%0.7%-114.8K-4.1M-15.8K8.9642.17N/AN/A1291,1563,9632,302
2021-02-19$40.47$39.0051.4%14.7%53.2%21.0%50.2%0.9%-0.2%901.5K-11.2M-14.5K0.0241.26N/AN/A791133,9743,427
2021-02-22$41.45$37.0052.5%15.0%53.7%19.6%52.5%1.4%-1.2%99.6K-5.9M-14.7K0.5240.56N/AN/A114592,285886
2021-02-23$42.52$40.0052.9%15.2%51.7%16.1%52.6%0.4%-2.7%96.5K-6.4M-15.6K0.2754.49N/AN/A123332,357944
2021-02-24$43.18$40.0051.8%14.9%50.6%8.5%51.8%0.5%0.1%104.8K-6.8M-15.3K0.0954.69N/AN/A246222,413958
2021-02-25$41.38$40.0051.4%14.7%50.1%7.9%53.0%2.0%0.4%109.3K-5.9M-15.6K0.2256.10N/AN/A141312,488951
2021-02-26$41.67$40.0050.3%14.4%44.3%3.6%51.1%1.7%1.8%113.0K-6.1M-15.8K0.4057.22N/AN/A57232,511974