TEX Options History — January 2023

In January 2023, TEX traded between $42.01 and $50.95. ATM implied volatility averaged 40.7%, placing in the 21.8% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded above realized volatility by 9.5% (HV 20d: 31.2%). Max pain ranged from $42.00 to $45.00. Net GEX was positive for 14 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 2.34.

Notable Days

  • 2023-01-03: Highest Volume — 726 contracts
  • 2023-01-11: Largest IV spike — 13.3% change
  • 2023-01-30: Highest IV Rank — 34.1%
  • 2023-01-30: Largest Expected Move — 13.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.74$42.01$50.95$42.01$50.95
Max Pain$43.65$42.00$45.00$42.00$45.00
ATM IV40.7%36.7%45.6%37.9%45.6%
Expected Move11.9%10.9%13.1%10.9%13.1%
HV 20d31.2%27.8%33.5%29.2%32.4%
HV 60d38.2%33.7%40.1%40.0%33.7%
IV Rank21.8%11.7%34.1%14.7%34.0%
IV Percentile12.3%0.4%36.5%0.8%36.5%
Term Structure-2.2%-7.6%4.8%4.8%-7.6%
VWIV42.8%36.4%50.2%36.4%47.2%
Skew 25d8.7%4.3%16.9%9.8%5.1%
Skew 10d16.9%-10.4%28.7%-4.9%17.7%
Call IV 25d36.9%28.4%45.3%38.8%43.4%
Put IV 25d45.6%41.6%50.9%48.6%48.5%
Bid-Ask Spread %56.5928.9674.4474.4471.28
Gamma HHI0.170.100.360.360.23
Net GEX-36.4K-735.6K149.4K-735.6K149.4K
Net DEX-8.0M-11.8M170.7K170.7K-10.3M
Net VEX-35.8K-55.3K-30.6K-55.3K-33.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.340.0717.278.070.42
Total Volume28273726726146
Total OI21,186.855,11530,06029,4616,042

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-01-03$42.01$42.0037.9%10.9%29.2%14.7%36.4%9.8%4.8%-735.6K170.7K-55.3K8.0774.44N/AN/A806463,66825,793
2023-01-04$42.44$42.0040.2%11.5%28.0%20.3%50.2%5.3%3.2%-504.5K-2.2M-47.9K3.5173.36N/AN/A531863,68325,777
2023-01-05$42.30$42.0040.1%12.9%27.8%20.1%47.6%5.0%-2.4%-480.9K-2.2M-46.1K7.6530.78N/AN/A231763,69725,706
2023-01-06$43.72$42.0036.7%11.6%30.0%11.7%42.0%7.5%1.2%-195.0K-5.2M-39.1K0.7737.72N/AN/A77593,69525,624
2023-01-09$44.25$42.0039.1%12.1%30.3%17.6%42.0%6.3%-1.6%-113.3K-6.5M-35.4K0.7928.96N/AN/A1731363,69525,627
2023-01-10$45.20$43.0037.5%11.8%30.3%13.6%41.6%5.5%-0.2%-38.0K-8.2M-34.4K17.2734.27N/AN/A264493,76225,635
2023-01-11$46.91$43.0042.5%12.2%32.7%26.3%42.4%14.0%-3.0%56.4K-10.4M-31.8K0.3446.14N/AN/A239823,76725,589
2023-01-12$46.79$43.0040.1%11.5%32.7%20.3%40.5%9.0%-0.6%62.3K-10.5M-32.3K0.7359.58N/AN/A1581153,85225,648
2023-01-13$48.05$44.0038.3%11.0%33.5%15.6%40.3%4.4%-1.2%97.1K-11.8M-30.7K0.8661.48N/AN/A69593,90225,692
2023-01-17$47.09$44.0041.7%11.9%28.3%24.1%41.4%12.9%-4.4%86.7K-11.1M-30.6K0.8371.22N/AN/A1621343,88725,719
2023-01-18$47.55$44.0040.8%11.7%28.3%22.1%38.8%7.9%-4.0%85.7K-11.4M-31.5K0.1350.11N/AN/A480613,94825,800
2023-01-19$45.70$44.0041.6%11.9%31.8%24.1%42.7%6.3%-1.8%71.2K-9.3M-34.7K1.3152.34N/AN/A1151514,14425,825
2023-01-20$46.66$44.0039.6%11.3%32.2%18.9%38.8%5.5%-2.1%79.7K-10.8M-32.0K0.0744.57N/AN/A338244,15325,907
2023-01-23$47.75$44.0039.3%11.3%32.8%18.0%44.2%12.8%-0.4%65.0K-6.8M-32.6K0.7062.07N/AN/A1541082,5992,516
2023-01-24$49.05$45.0041.1%11.8%31.8%22.7%43.0%16.4%-3.9%103.1K-8.2M-32.4K1.0363.84N/AN/A1911972,7452,591
2023-01-25$48.20$45.0041.8%12.0%32.9%24.6%41.5%13.6%-3.8%92.0K-7.6M-34.7K0.4561.75N/AN/A67302,8902,766
2023-01-26$49.38$45.0041.2%11.8%33.5%23.0%41.6%16.9%-3.2%122.5K-8.6M-34.4K0.9770.72N/AN/A37362,9132,787
2023-01-27$50.38$45.0043.8%12.5%32.5%29.4%46.0%4.8%-5.7%129.4K-9.5M-31.6K0.3467.71N/AN/A215742,9252,805
2023-01-30$50.33$45.0045.6%13.1%32.6%34.1%47.2%4.3%-6.5%137.8K-9.6M-35.2K0.5269.49N/AN/A75393,1122,851
2023-01-31$50.95$45.0045.6%13.1%32.4%34.0%47.2%5.1%-7.6%149.4K-10.3M-33.9K0.4271.28N/AN/A103433,1692,873