TEX Options History — November 2023

In November 2023, TEX traded between $46.79 and $51.38. ATM implied volatility averaged 33.8%, placing in the 19.7% IV rank vs the trailing year. The 30-day expected move averaged 9.7%. IV traded below realized volatility by 19.4% (HV 20d: 53.2%). Max pain ranged from $35.00 to $55.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 1.35.

Notable Days

  • 2023-11-20: Highest Volume — 1,348 contracts
  • 2023-11-06: Largest IV spike — 6.5% change
  • 2023-11-06: Highest IV Rank — 26.4%
  • 2023-11-01: Largest Expected Move — 10.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$49.34$46.79$51.38$46.79$49.41
Max Pain$45.71$35.00$55.00$55.00$35.00
ATM IV33.8%31.1%36.3%35.9%33.1%
Expected Move9.7%8.9%10.3%10.3%9.5%
HV 20d53.2%40.5%61.9%54.9%40.5%
HV 60d42.9%39.5%44.1%39.5%42.8%
IV Rank19.7%12.6%26.4%25.3%17.7%
IV Percentile7.9%1.6%16.3%12.3%7.5%
Term Structure-0.2%-1.3%0.7%0.5%-1.1%
VWIV34.2%31.1%37.4%37.4%32.4%
Skew 25d2.7%0.8%4.1%3.1%1.8%
Skew 10d6.4%-2.0%14.6%-2.0%5.3%
Call IV 25d33.2%31.0%35.0%35.0%32.7%
Put IV 25d35.8%32.2%38.7%38.1%34.5%
Bid-Ask Spread %32.7414.5256.1947.4616.27
Gamma HHI0.250.130.490.130.31
Net GEX141.9K2.9K441.9K2.9K175.3K
Net DEX-2.6M-8.7M4.7M4.7M-6.3M
Net VEX-28.0K-41.2K-21.0K-30.2K-21.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.350.0710.430.310.86
Total Volume199.857391,3486482
Total OI10,763.4298,52312,31412,0478,553

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-11-01$46.79$55.0035.9%10.3%54.9%25.3%37.4%3.1%0.5%2.9K4.7M-30.2K0.3147.46N/AN/A49157,3204,727
2023-11-02$49.08$50.0035.9%10.2%58.1%25.3%35.0%3.6%0.5%112.6K1.5M-35.6K0.5042.12N/AN/A88447,3614,727
2023-11-03$50.44$50.0034.1%9.8%58.8%20.6%35.0%3.2%0.3%214.6K-1.1M-41.2K0.5542.16N/AN/A173967,4094,761
2023-11-06$47.79$50.0036.3%10.2%61.5%26.4%35.2%4.0%0.1%23.3K3.5M-30.3K1.1644.70N/AN/A67787,4854,762
2023-11-07$48.47$50.0035.7%9.8%60.3%24.7%33.7%4.1%0.7%18.7K3.3M-31.1K0.2730.23N/AN/A90247,5014,813
2023-11-08$47.54$50.0034.1%9.8%60.5%20.4%34.4%3.4%0.4%4.8K4.0M-27.4K2.6134.11N/AN/A23607,4754,820
2023-11-09$47.55$45.0034.6%9.9%60.4%21.8%36.2%4.1%0.1%4.8K1.3M-27.4K0.4823.13N/AN/A33167,4864,268
2023-11-10$49.16$45.0034.6%9.9%60.4%21.9%35.7%2.2%0.1%128.8K-3.2M-29.1K1.1022.76N/AN/A911007,5033,805
2023-11-13$49.25$45.0035.0%10.0%59.9%23.0%34.8%2.5%-0.6%118.6K-3.1M-28.1K0.0821.41N/AN/A549437,5383,854
2023-11-14$51.23$45.0034.8%10.0%61.9%22.3%34.3%3.2%-0.2%406.7K-7.8M-30.5K0.3241.67N/AN/A164527,9893,858
2023-11-15$51.13$45.0034.9%10.0%50.6%22.6%36.1%2.8%-0.8%357.3K-7.7M-30.9K10.4321.07N/AN/A141468,0313,858
2023-11-16$49.97$45.0034.2%9.8%49.6%20.6%35.1%2.7%-0.4%441.9K-5.4M-27.1K1.5514.52N/AN/A44688,0423,794
2023-11-17$51.38$45.0032.8%9.4%50.4%17.0%33.0%3.4%0.1%80.5K-8.7M-28.5K1.0843.42N/AN/A66718,0443,805
2023-11-20$50.37$45.0032.0%9.2%51.0%15.0%32.1%2.8%-0.2%45.7K-3.8M-25.6K0.0724.90N/AN/A1,262865,4173,344
2023-11-21$49.05$45.0032.0%9.2%52.0%15.0%31.9%1.7%-0.6%116.0K-3.1M-24.8K1.1756.19N/AN/A46545,6153,413
2023-11-22$49.49$45.0031.1%8.9%50.6%12.6%32.3%0.8%0.1%132.4K-4.4M-25.7K0.7424.31N/AN/A50375,6413,333
2023-11-24$49.98$45.0031.4%9.0%50.6%13.4%31.1%1.6%-0.4%165.6K-5.5M-27.0K0.8836.31N/AN/A50445,6783,345
2023-11-27$49.88$45.0032.1%9.2%43.4%15.1%33.3%2.0%-1.3%134.6K-4.4M-22.8K2.9026.73N/AN/A10295,6873,361
2023-11-28$48.75$45.0032.5%9.3%41.0%16.4%37.0%1.5%-1.2%109.2K-2.9M-21.4K1.1145.53N/AN/A28315,6973,389
2023-11-29$49.50$35.0032.9%9.4%41.1%17.2%32.2%1.2%-1.2%185.7K-6.4M-21.3K0.2228.61N/AN/A102225,7002,823
2023-11-30$49.41$35.0033.1%9.5%40.5%17.7%32.4%1.8%-1.1%175.3K-6.3M-21.0K0.8616.27N/AN/A44385,7192,834