TEX Options History — March 2023

In March 2023, TEX traded between $45.27 and $60.20. ATM implied volatility averaged 43.0%, placing in the 28.8% IV rank vs the trailing year. The 30-day expected move averaged 11.8%. IV traded below realized volatility by 6.0% (HV 20d: 49.0%). Max pain ranged from $46.00 to $49.00. Net GEX was positive for 17 of 23 trading days. Term structure was in contango for 15 of 23 days. Put/call ratio averaged 1.51.

Notable Days

  • 2023-03-28: Highest Volume — 4,162 contracts
  • 2023-03-10: Largest IV spike — 47.1% change
  • 2023-03-13: Highest IV Rank — 74.2%
  • 2023-03-20: Largest Expected Move — 14.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$51.69$45.27$60.20$59.97$48.13
Max Pain$47.13$46.00$49.00$49.00$47.00
ATM IV43.0%32.4%59.9%36.0%41.7%
Expected Move11.8%9.3%14.0%10.3%11.9%
HV 20d49.0%32.3%63.8%33.2%61.6%
HV 60d39.6%31.5%46.2%32.4%46.0%
IV Rank28.8%0.8%74.2%9.7%25.5%
IV Percentile33.8%0.4%98.4%0.8%23.8%
Term Structure0.2%-7.5%5.5%-0.8%4.0%
VWIV41.7%33.9%53.2%36.8%41.8%
Skew 25d6.5%3.0%14.0%4.3%7.6%
Skew 10d15.6%-5.7%34.7%7.3%8.6%
Call IV 25d39.5%32.9%50.5%34.7%39.3%
Put IV 25d46.1%37.0%57.0%39.0%46.9%
Bid-Ask Spread %70.1142.8290.5187.1465.29
Gamma HHI0.210.110.280.280.27
Net GEX172.4K-205.0K573.5K392.3K573.5K
Net DEX-9.1M-20.4M191.1K-20.2M-12.8M
Net VEX-49.4K-69.6K-36.9K-38.4K-69.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.510.0014.260.530.03
Total Volume699.739644,1621331,298
Total OI8,966.4787,23513,3337,43013,333

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$59.97$49.0036.0%10.3%33.2%9.7%36.8%4.3%-0.8%392.3K-20.2M-38.4K0.5387.14N/AN/A87464,9322,498
2023-03-02$59.94$49.0036.6%10.5%32.6%11.4%35.7%3.2%-0.3%379.6K-19.9M-40.6K0.7952.59N/AN/A39314,9442,524
2023-03-03$60.20$49.0034.6%9.9%32.3%6.3%36.2%3.5%0.2%402.6K-20.4M-37.8K0.2890.51N/AN/A206584,9422,535
2023-03-06$59.39$46.0036.5%10.0%33.0%11.2%37.7%4.1%0.4%403.8K-19.7M-39.9K0.3967.06N/AN/A185735,0422,568
2023-03-07$58.71$46.0036.3%9.9%32.8%10.7%35.5%5.0%0.5%400.2K-19.0M-37.7K0.4966.40N/AN/A136665,0662,625
2023-03-08$58.89$47.0036.3%9.7%32.8%10.5%33.9%4.2%2.3%404.0K-16.5M-36.9K0.1568.59N/AN/A474694,5942,641
2023-03-09$57.63$47.0032.4%10.1%33.6%0.8%37.4%6.2%1.5%371.0K-14.9M-38.4K0.6189.41N/AN/A54334,6002,653
2023-03-10$53.02$47.0047.7%9.3%46.1%41.5%35.4%8.4%-0.6%199.3K-8.9M-39.4K1.4966.31N/AN/A1842744,6202,658
2023-03-13$51.40$46.0059.9%12.5%43.6%74.2%41.2%4.4%-4.3%104.3K-6.8M-40.5K0.6880.35N/AN/A2841944,5742,802
2023-03-14$52.63$46.0043.8%11.0%40.2%31.2%40.2%6.5%0.4%188.5K-8.5M-39.3K2.2980.16N/AN/A34784,7162,752
2023-03-15$49.17$46.0043.6%12.5%46.2%30.6%46.3%4.8%-2.8%-18.1K-4.8M-38.8K5.4278.95N/AN/A1347264,7182,759
2023-03-16$49.90$48.0044.8%12.8%46.8%33.8%42.3%6.2%-1.8%-55.5K-4.8M-44.0K0.2277.19N/AN/A235524,7403,375
2023-03-17$45.27$48.0047.0%13.5%57.0%39.6%48.2%9.2%1.5%-89.0K191.1K-39.6K14.2671.32N/AN/A1732,4674,6953,371
2023-03-20$47.01$47.0048.8%14.0%58.6%44.6%48.8%6.2%0.5%-205.0K-822.7K-55.0K0.9469.48N/AN/A1251173,5284,881
2023-03-21$49.70$47.0045.0%12.9%62.8%34.4%44.9%9.3%0.9%-127.9K-3.6M-55.0K0.0766.68N/AN/A1,6861103,6294,952
2023-03-22$47.88$47.0046.8%13.4%63.8%39.3%44.3%3.0%-7.5%18.5K-4.8M-61.2K0.0787.52N/AN/A575425,1455,029
2023-03-23$46.62$47.0047.3%13.5%62.3%40.4%45.9%6.6%1.9%16.3K-2.9M-64.2K0.8374.90N/AN/A36305,6695,058
2023-03-24$45.84$47.0047.8%13.7%61.9%41.8%53.2%11.3%0.7%-16.8K-1.5M-63.1K1.2161.46N/AN/A29355,6805,079
2023-03-27$46.48$47.0046.2%13.2%62.6%37.6%45.2%14.0%1.7%21.7K-2.3M-61.1K3.3847.58N/AN/A26885,6945,121
2023-03-28$46.56$47.0044.5%12.8%60.9%33.2%45.1%10.3%2.0%11.1K-2.4M-60.8K0.0042.82N/AN/A4,148145,7035,175
2023-03-29$47.05$47.0041.1%11.8%60.8%23.9%42.0%6.6%5.5%267.1K-6.9M-67.6K0.5856.37N/AN/A55327,1195,171
2023-03-30$47.38$47.0043.5%12.5%61.1%30.4%41.6%5.6%-0.8%324.0K-7.9M-66.2K0.0064.43N/AN/A1,25517,1515,168
2023-03-31$48.13$47.0041.7%11.9%61.6%25.5%41.8%7.6%4.0%573.5K-12.8M-69.6K0.0365.29N/AN/A1,259398,1645,169