TEX Options History — December 2023

In December 2023, TEX traded between $50.81 and $59.20. ATM implied volatility averaged 34.4%, placing in the 22.4% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded below realized volatility by 5.7% (HV 20d: 40.1%). Max pain ranged from $35.00 to $55.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.65.

Notable Days

  • 2023-12-14: Highest Volume — 927 contracts
  • 2023-12-04: Largest IV spike — 17.8% change
  • 2023-12-11: Highest IV Rank — 40.2%
  • 2023-12-06: Largest Expected Move — 10.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$55.14$50.81$59.20$51.61$57.77
Max Pain$49.40$35.00$55.00$35.00$55.00
ATM IV34.4%30.4%41.5%32.4%31.1%
Expected Move9.5%8.7%10.0%9.3%8.9%
HV 20d40.1%29.5%46.6%39.9%45.2%
HV 60d45.9%42.6%48.6%43.7%47.4%
IV Rank22.4%12.1%40.2%16.0%14.1%
IV Percentile16.6%1.2%63.1%4.8%2.0%
Term Structure3.1%-0.6%4.9%-0.6%4.9%
VWIV33.6%31.2%37.8%34.4%31.3%
Skew 25d2.1%0.5%3.6%0.5%1.6%
Skew 10d6.4%1.6%14.0%11.0%4.6%
Call IV 25d33.2%31.8%35.1%32.5%32.4%
Put IV 25d35.3%32.8%37.3%33.1%33.9%
Bid-Ask Spread %42.6618.2570.3531.8524.59
Gamma HHI0.310.250.400.270.31
Net GEX323.7K178.5K432.4K284.4K370.7K
Net DEX-10.1M-21.8M-6.6M-9.6M-7.3M
Net VEX-24.3K-28.1K-21.2K-23.1K-24.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.650.051.660.520.69
Total Volume288.921927111403
Total OI7,462.654,3779,9488,5735,553

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-12-01$51.61$35.0032.4%9.3%39.9%16.0%34.4%0.5%-0.6%284.4K-9.6M-23.1K0.5231.85N/AN/A73385,7132,860
2023-12-04$51.88$49.0038.1%9.9%38.9%31.2%32.9%2.9%2.2%284.3K-10.0M-22.9K0.0534.94N/AN/A575305,7462,874
2023-12-05$50.81$49.0037.3%9.9%34.1%29.0%34.1%3.6%2.5%314.6K-9.2M-24.8K1.0953.84N/AN/A1071176,1922,900
2023-12-06$51.08$50.0037.1%10.0%33.8%28.4%34.3%2.6%1.9%336.4K-9.6M-25.5K0.6039.59N/AN/A105636,2772,993
2023-12-07$51.11$50.0038.0%10.0%32.9%30.7%33.6%2.8%1.8%333.7K-9.6M-25.4K0.3140.86N/AN/A51166,3423,047
2023-12-08$51.38$50.0035.9%9.8%32.8%25.1%33.7%1.9%2.2%344.6K-10.2M-25.1K0.9349.68N/AN/A1361276,3483,054
2023-12-11$51.17$50.0041.5%9.7%31.0%40.2%33.6%2.1%2.6%337.8K-9.6M-23.6K0.7333.70N/AN/A71526,3793,158
2023-12-12$51.09$50.0034.5%9.3%31.0%21.6%32.4%1.3%3.4%336.9K-9.7M-22.6K1.0357.32N/AN/A38396,3793,202
2023-12-13$52.58$50.0031.6%9.1%29.5%13.9%32.2%2.2%2.6%178.5K-12.5M-21.5K0.3663.64N/AN/A84306,3743,197
2023-12-14$58.29$50.0032.7%9.4%46.6%19.0%35.3%2.3%4.0%432.4K-21.8M-21.2K0.4641.10N/AN/A6332946,3373,223
2023-12-15$57.94$50.0030.4%8.7%45.6%12.1%31.2%1.1%4.2%283.3K-21.2M-22.6K0.0556.59N/AN/A647326,5563,392
2023-12-18$57.26$50.0034.5%9.9%45.4%24.2%33.2%2.1%2.9%273.0K-6.6M-22.4K1.6635.98N/AN/A1692812,8031,574
2023-12-19$59.12$50.0032.4%9.3%45.3%17.8%33.0%1.5%3.7%292.0K-8.2M-23.8K0.3932.44N/AN/A2661042,9461,790
2023-12-20$57.70$50.0034.3%9.8%45.0%23.7%34.4%1.6%3.0%263.2K-6.8M-26.5K0.1434.81N/AN/A624893,0651,883
2023-12-21$57.83$50.0033.7%9.7%45.1%21.9%37.8%2.6%3.1%325.7K-7.5M-28.1K1.2770.35N/AN/A77983,3691,956
2023-12-22$57.80$50.0033.2%9.5%45.2%20.3%33.8%2.2%4.0%341.1K-7.6M-26.6K0.6254.85N/AN/A55343,3972,002
2023-12-26$59.20$50.0033.7%9.7%45.4%21.8%34.7%2.4%4.0%376.5K-9.0M-25.9K0.7543.02N/AN/A59443,3882,026
2023-12-27$58.58$50.0033.0%9.5%44.5%19.7%34.1%2.3%4.3%380.3K-8.5M-24.8K0.1135.73N/AN/A1923,4172,049
2023-12-28$58.66$50.0032.0%9.2%44.5%16.8%32.0%2.7%4.6%384.9K-8.4M-25.1K1.1818.25N/AN/A44523,4252,067
2023-12-29$57.77$55.0031.1%8.9%45.2%14.1%31.3%1.6%4.9%370.7K-7.3M-24.1K0.6924.59N/AN/A2381653,4352,118