TEX Options History — April 2023

In April 2023, TEX traded between $42.36 and $47.73. ATM implied volatility averaged 44.9%, placing in the 36.4% IV rank vs the trailing year. The 30-day expected move averaged 13.0%. IV traded below realized volatility by 7.1% (HV 20d: 52.0%). Max pain ranged from $44.00 to $47.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 1.08.

Notable Days

  • 2023-04-06: Highest Volume — 6,231 contracts
  • 2023-04-04: Largest IV spike — 10.0% change
  • 2023-04-17: Highest IV Rank — 47.4%
  • 2023-04-06: Largest Expected Move — 14.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.64$42.36$47.73$47.73$44.66
Max Pain$44.47$44.00$47.00$47.00$44.00
ATM IV44.9%40.9%47.4%42.9%42.4%
Expected Move13.0%11.7%14.2%12.3%12.2%
HV 20d52.0%38.7%67.5%61.6%41.4%
HV 60d48.0%46.0%49.3%46.0%47.3%
IV Rank36.4%26.7%47.4%28.8%31.5%
IV Percentile41.1%18.7%58.7%29.8%27.8%
Term Structure-2.3%-4.7%2.3%1.9%-1.4%
VWIV45.5%40.7%50.3%40.7%42.4%
Skew 25d7.1%-0.9%10.2%6.3%8.4%
Skew 10d19.1%9.3%38.1%22.6%9.3%
Call IV 25d43.0%39.5%51.7%40.4%40.2%
Put IV 25d50.2%43.5%55.1%46.7%48.6%
Bid-Ask Spread %44.7518.7878.6569.3046.45
Gamma HHI0.230.160.440.230.29
Net GEX368.1K-60.7K993.4K825.7K299.0K
Net DEX-3.8M-13.5M4.2M-13.5M-5.7M
Net VEX-51.7K-71.6K-45.7K-71.6K-46.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.080.015.370.210.37
Total Volume925.421936,231122129
Total OI12,919.2116,85015,35014,4917,552

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-04-03$47.73$47.0042.9%12.3%61.6%28.8%40.7%6.3%1.9%825.7K-13.5M-71.6K0.2169.30N/AN/A101219,3065,185
2023-04-04$43.69$47.0047.2%13.5%67.5%39.8%49.8%10.2%-1.2%173.2K822.1K-59.0K1.3667.10N/AN/A3634959,2775,189
2023-04-05$42.69$47.0045.3%13.0%67.2%34.5%46.6%-0.9%2.3%3963.4M-56.6K1.5378.65N/AN/A2453749,4965,499
2023-04-06$42.36$44.0045.5%14.2%67.2%35.0%48.6%8.9%-3.1%-60.7K4.2M-53.1K0.0328.53N/AN/A6,0441879,7105,453
2023-04-10$42.95$44.0046.9%14.0%62.9%39.0%49.1%8.5%-4.1%142.9K1.3M-54.5K5.3726.81N/AN/A603229,6295,491
2023-04-11$43.58$44.0044.6%13.8%63.0%32.7%50.3%8.5%-3.8%286.6K-1.8M-55.1K4.1432.98N/AN/A512119,6435,246
2023-04-12$44.61$44.0046.1%13.2%63.0%36.9%49.2%6.9%-3.1%377.1K-2.8M-51.8K1.7451.78N/AN/A1522649,6455,071
2023-04-13$44.45$44.0046.7%13.4%58.9%38.3%45.3%8.3%-2.6%408.7K-3.2M-52.5K0.1053.49N/AN/A133139,7465,056
2023-04-14$44.84$44.0044.2%12.7%58.7%31.8%42.4%8.6%-2.9%594.3K-4.4M-52.2K0.4156.00N/AN/A199819,7565,059
2023-04-17$45.84$44.0047.4%13.6%48.2%47.4%45.4%7.7%-3.4%794.3K-9.2M-49.4K0.0149.71N/AN/A3,612369,8975,101
2023-04-18$46.27$44.0045.5%13.1%46.3%41.4%46.0%8.7%-4.7%993.4K-7.4M-47.1K0.0444.42N/AN/A3,0291199,6495,111
2023-04-19$45.71$44.0042.3%12.1%41.3%31.3%44.1%7.1%0.3%274.0K-6.1M-50.9K0.7924.53N/AN/A725710,0135,208
2023-04-20$45.02$44.0040.9%11.7%39.7%26.7%43.4%9.5%-1.0%-51.2K-3.2M-48.8K0.8853.97N/AN/A665810,0145,221
2023-04-21$44.97$44.0044.5%12.8%38.7%38.1%43.4%1.4%-2.5%906.6K-2.7M-47.1K1.2953.75N/AN/A8310710,0325,318
2023-04-24$46.17$44.0044.3%12.7%39.5%37.6%43.3%7.5%-4.0%257.2K-7.3M-46.7K0.1733.20N/AN/A397684,5912,259
2023-04-25$44.73$44.0045.9%13.2%40.7%42.7%44.8%7.8%-3.5%269.9K-6.0M-47.5K0.2734.01N/AN/A102284,9712,290
2023-04-26$44.09$44.0045.3%13.0%40.9%40.7%45.5%6.2%-3.6%253.8K-5.0M-46.4K0.4318.78N/AN/A65285,0502,301
2023-04-27$43.76$44.0044.4%12.7%40.7%37.9%44.5%6.0%-3.1%248.8K-4.4M-45.7K1.3226.73N/AN/A911205,1122,318
2023-04-28$44.66$44.0042.4%12.2%41.4%31.5%42.4%8.4%-1.4%299.0K-5.7M-46.9K0.3746.45N/AN/A94355,1682,384