TSM Options History — April 2007

In April 2007, TSM traded between $10.52 and $11.03. ATM implied volatility averaged 31.7%. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 9.8% (HV 20d: 21.9%). Max pain ranged from $10.00 to $12.50. Net GEX was positive for 4 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 2.18.

Notable Days

  • 2007-04-04: Highest Volume — 5,213 contracts
  • 2007-04-30: Largest IV spike — 72.3% change
  • 2007-04-09: Largest Expected Move — 10.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$10.76$10.52$11.03$10.78$10.54
Max Pain$10.13$10.00$12.50$10.00$10.00
ATM IV31.7%16.5%45.8%33.8%28.4%
Expected Move9.2%4.7%10.6%9.7%8.1%
HV 20d21.9%15.3%31.6%31.6%19.7%
HV 60d30.9%28.0%33.0%33.0%28.8%
Term Structure0.3%-5.9%15.2%3.0%1.9%
VWIV31.6%15.8%36.9%33.3%28.0%
Skew 25d7.2%-4.8%14.9%7.0%2.0%
Skew 10d13.8%-4.9%38.9%31.9%11.4%
Call IV 25d24.1%19.1%29.2%26.5%26.7%
Put IV 25d31.3%17.1%36.0%33.5%28.7%
Bid-Ask Spread %8.274.3916.295.876.20
Gamma HHI0.690.450.870.770.85
Net GEX-225.0K-657.2K93.3K-577.8K-68.2K
Net DEX-8.2M-11.7M-1.8M-5.8M-1.8M
Net VEX-80.3K-90.9K-76.3K-82.1K-79.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.180.0417.550.040.85
Total Volume1,195.251085,2131,135345
Total OI60,150.535,70272,60164,81740,399

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2007-04-02$10.78$10.0033.8%9.7%31.6%0.0%33.3%7.0%3.0%-577.8K-5.8M-82.1K0.045.871,0963928,06436,753
2007-04-03$10.90$10.0029.5%8.5%26.9%0.0%20.2%4.0%15.2%-421.5K-7.2M-79.1K0.156.196349328,01736,705
2007-04-04$10.78$10.0035.1%10.1%27.0%0.0%35.0%5.7%-2.5%-657.2K-6.5M-79.3K0.944.392,6912,52228,40336,724
2007-04-05$10.97$10.0026.0%7.4%26.1%0.0%32.7%-4.8%2.1%-336.8K-11.1M-89.4K0.584.5735020331,05839,224
2007-04-09$10.87$12.5031.6%10.6%26.3%0.0%36.9%14.2%-2.7%-434.6K-9.9M-86.0K0.649.2328618330,89739,272
2007-04-10$10.81$10.0045.8%10.3%23.2%0.0%35.5%12.4%-2.5%-556.6K-7.5M-90.9K1.088.1335638630,91239,325
2007-04-11$10.77$10.0024.8%10.2%22.7%0.0%0.0%14.8%-3.4%-256.0K-11.4M-79.5K0.839.3628923930,98539,365
2007-04-12$10.80$10.0036.2%10.4%22.4%0.0%36.3%14.9%-4.3%-156.6K-11.6M-77.9K2.389.27327630,92939,580
2007-04-13$10.70$10.0035.1%10.1%22.3%0.0%35.1%13.0%-3.1%-248.8K-10.7M-78.2K0.348.1788429930,92439,620
2007-04-16$10.77$10.0035.1%10.1%22.2%0.0%35.1%-0.2%-2.9%-135.9K-11.7M-77.5K0.2816.2269819631,45439,772
2007-04-17$10.66$10.0034.5%9.9%22.4%0.0%34.4%11.3%-2.8%-252.3K-11.0M-78.8K7.2416.295842031,52039,951
2007-04-18$10.67$10.0035.9%10.3%20.3%0.0%35.8%12.2%-5.9%-52.0K-11.4M-78.3K3.129.633221,00631,51439,987
2007-04-19$10.55$10.0034.5%9.9%18.4%0.0%34.5%10.1%-3.4%-375.9K-9.5M-79.7K0.499.5631415331,74440,840
2007-04-20$10.52$10.0033.8%9.7%17.6%0.0%33.8%9.0%-3.4%-135.7K-9.5M-78.5K1.328.7666187431,77040,831
2007-04-23$10.58$10.0032.0%9.2%17.8%0.0%32.0%7.2%-1.1%11.5K-4.3M-78.5K17.5511.79941,65019,75915,943
2007-04-24$10.79$10.0031.7%9.1%19.4%0.0%31.6%2.2%-0.1%21.9K-4.9M-80.1K0.075.115694219,82516,807
2007-04-25$10.95$10.0034.1%9.8%18.1%0.0%34.0%11.0%-0.7%41.0K-6.2M-80.3K1.024.6040040820,28316,812
2007-04-26$11.03$10.0020.6%5.9%15.3%0.0%20.2%2.5%9.7%93.3K-7.1M-76.3K3.425.387092,42520,51617,105
2007-04-27$10.69$10.0016.5%4.7%19.1%0.0%15.8%-3.8%12.4%-2.3K-4.2M-76.6K1.196.668701,03320,17219,249
2007-04-30$10.54$10.0028.4%8.1%19.7%0.0%28.0%2.0%1.9%-68.2K-1.8M-79.2K0.856.2018615920,44219,957