TXT Options History — February 2020

In February 2020, TXT traded between $39.65 and $50.89. ATM implied volatility averaged 31.3%, placing in the 42.4% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded below realized volatility by 7.2% (HV 20d: 38.5%). Max pain ranged from $45.00 to $50.00. Net GEX was positive for 7 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 1.20.

Notable Days

2020-02-04: Highest Volume — 8,916 contracts
2020-02-21: Largest IV spike — 25.5% change
2020-02-28: Highest IV Rank — 100.0%
2020-02-28: Largest Expected Move — 17.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$47.22	$39.65	$50.89	$46.39	$39.65
Max Pain	$49.21	$45.00	$50.00	$45.00	$50.00
ATM IV	31.3%	23.5%	59.9%	27.8%	59.9%
Expected Move	8.9%	6.7%	17.2%	8.0%	17.2%
HV 20d	38.5%	22.4%	45.0%	22.4%	45.0%
HV 60d	26.5%	18.5%	31.0%	18.5%	31.0%
IV Rank	42.4%	21.9%	100.0%	33.9%	100.0%
IV Percentile	55.4%	22.2%	100.0%	52.0%	100.0%
Term Structure	-0.8%	-12.2%	2.7%	-0.2%	-12.2%
VWIV	31.1%	24.6%	61.3%	27.7%	61.3%
Skew 25d	5.3%	1.5%	15.9%	3.8%	15.9%
Skew 10d	10.1%	3.5%	28.0%	9.0%	28.0%
Call IV 25d	29.3%	23.6%	54.5%	25.3%	54.5%
Put IV 25d	34.6%	27.2%	70.4%	29.1%	70.4%
Bid-Ask Spread %	13.89	4.52	50.35	8.98	29.58
Gamma HHI	0.40	0.30	0.56	0.32	0.32
Net GEX	-71.2K	-692.2K	910.0K	-216.9K	-504.6K
Net DEX	-993.7K	-21.3M	24.5M	1.0M	24.5M
Net VEX	-127.7K	-141.6K	-108.2K	-141.6K	-109.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.20	0.19	4.37	0.19	3.25
Total Volume	1,527.632	163	8,916	1,489	1,780
Total OI	23,096.632	18,738	25,046	23,516	19,913

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2020-02-03	$46.39	$45.00	27.8%	8.0%	22.4%	33.9%	27.7%	3.8%	-0.2%	-216.9K	1.0M	-141.6K	0.19	8.98	1,249	240	10,791	12,725
2020-02-04	$50.64	$45.00	30.5%	8.7%	37.7%	41.3%	31.3%	1.5%	-3.3%	500.4K	-17.8M	-136.4K	0.23	50.35	7,271	1,645	9,952	12,726
2020-02-05	$50.89	$45.00	28.1%	8.1%	37.7%	34.7%	28.5%	2.0%	-2.0%	910.0K	-21.3M	-139.1K	1.82	5.20	1,292	2,347	11,931	13,115
2020-02-06	$50.80	$50.00	26.3%	7.3%	37.1%	29.8%	24.6%	3.1%	2.4%	715.5K	-17.8M	-141.1K	0.98	10.14	587	574	11,284	13,681
2020-02-07	$50.86	$50.00	26.6%	7.5%	36.9%	30.6%	25.3%	4.0%	2.1%	699.8K	-18.2M	-138.8K	0.44	11.14	227	101	11,046	13,536
2020-02-10	$50.32	$50.00	25.9%	7.2%	36.6%	28.6%	26.5%	3.6%	2.0%	669.5K	-15.2M	-132.7K	0.47	8.25	263	124	11,025	13,538
2020-02-11	$49.67	$50.00	25.8%	7.4%	37.1%	28.3%	25.6%	4.2%	1.3%	566.3K	-11.9M	-134.5K	0.35	23.51	1,668	576	11,066	13,520
2020-02-12	$49.33	$50.00	24.3%	7.0%	37.4%	24.2%	25.2%	3.1%	2.4%	480.2K	-9.5M	-131.1K	0.56	19.51	366	204	10,990	13,370
2020-02-13	$47.94	$50.00	25.5%	7.3%	39.1%	27.4%	28.8%	3.5%	1.0%	-129.3K	-1.6M	-131.3K	0.81	6.42	458	370	11,216	13,351
2020-02-14	$48.02	$50.00	23.5%	6.7%	38.7%	21.9%	25.7%	3.6%	2.7%	-159.0K	-1.9M	-130.9K	0.83	4.52	163	135	11,364	13,523
2020-02-18	$47.62	$50.00	24.0%	6.9%	38.9%	23.2%	26.2%	4.6%	2.2%	-439.3K	604.9K	-125.6K	0.66	6.86	161	107	11,355	13,494
2020-02-19	$47.41	$50.00	28.2%	8.1%	38.4%	35.0%	24.6%	4.5%	0.2%	-607.0K	1.8M	-124.2K	0.54	4.97	351	189	11,357	13,498
2020-02-20	$47.59	$50.00	24.2%	6.9%	37.8%	23.8%	25.3%	5.1%	2.2%	-651.8K	228.7K	-124.7K	0.50	6.91	109	54	11,513	13,508
2020-02-21	$47.46	$50.00	30.4%	8.7%	37.8%	41.1%	29.6%	5.1%	-1.2%	-657.7K	941.3K	-126.3K	1.27	21.39	411	522	11,542	13,501
2020-02-24	$45.95	$50.00	33.5%	9.6%	39.7%	49.9%	33.2%	7.2%	-0.2%	-692.2K	9.1M	-122.9K	2.49	8.46	302	753	7,949	10,816
2020-02-25	$43.40	$50.00	37.4%	10.7%	44.8%	60.6%	39.0%	7.8%	-1.9%	-664.6K	16.6M	-116.2K	0.90	12.10	480	434	8,046	10,730
2020-02-26	$42.04	$50.00	41.8%	12.0%	44.5%	73.0%	36.1%	8.4%	-3.3%	-615.4K	20.0M	-108.2K	4.37	12.93	134	585	7,930	10,808
2020-02-27	$41.24	$50.00	50.6%	14.5%	43.5%	97.7%	46.7%	10.1%	-9.3%	-556.7K	21.5M	-110.9K	2.16	12.62	884	1,909	7,973	11,153
2020-02-28	$39.65	$50.00	59.9%	17.2%	45.0%	100.0%	61.3%	15.9%	-12.2%	-504.6K	24.5M	-109.5K	3.25	29.58	419	1,361	8,021	11,892