UYG Options History — September 2008

In September 2008, UYG traded between $27.07 and $39.37. ATM implied volatility averaged 115.0%, placing in the 74.4% IV rank vs the trailing year. The 30-day expected move averaged 32.9%. IV traded below realized volatility by 1.2% (HV 20d: 116.2%). Max pain ranged from $35.00 to $38.33. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.58.

Notable Days

  • 2008-09-19: Highest Volume — 80,064 contracts
  • 2008-09-09: Largest IV spike — 30.4% change
  • 2008-09-15: Highest IV Rank — 100.0%
  • 2008-09-29: Largest Expected Move — 44.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.46$27.07$39.37$36.60$29.23
Max Pain$36.83$35.00$38.33$38.33$35.00
ATM IV115.0%74.0%156.5%79.7%144.3%
Expected Move32.9%21.2%44.9%22.8%41.4%
HV 20d116.2%79.0%166.3%84.0%166.3%
HV 60d114.0%100.0%132.9%100.0%132.9%
IV Rank74.4%36.8%100.0%43.9%89.2%
IV Percentile87.7%46.7%100.0%61.8%98.1%
Term Structure-15.4%-45.1%9.2%4.8%-20.9%
VWIV114.0%75.2%153.8%79.6%143.1%
Skew 25d10.7%-6.4%24.2%19.3%9.6%
Skew 10d17.8%-26.4%44.4%33.8%20.2%
Call IV 25d109.1%68.0%158.5%69.0%138.2%
Put IV 25d119.8%83.5%152.1%88.2%147.7%
Bid-Ask Spread %25.7010.6553.4010.6517.32
Gamma HHI0.150.120.330.140.16
Net GEX761.7K95.9K5.1M284.7K1.5M
Net DEX-8.5M-166.5M144.4M-36.6M-45.5M
Net VEX-646.4K-824.3K-492.0K-658.5K-824.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.251.310.650.40
Total Volume34,535.42912,18080,06426,19622,650
Total OI193,519.143113,304250,638165,120215,658

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-09-02$36.60$38.3379.7%22.8%84.0%43.9%79.6%19.3%4.8%284.7K-36.6M-658.5K0.6510.65N/AN/A15,91210,28491,12873,992
2008-09-03$37.90$36.6774.0%21.2%79.0%36.8%75.2%15.4%9.2%311.5K-56.6M-711.9K0.7514.24N/AN/A6,9785,20296,11480,946
2008-09-04$34.68$38.3379.3%22.8%84.9%43.5%79.2%11.7%6.2%120.5K21.2M-645.1K0.7014.92N/AN/A8,3105,77897,98682,890
2008-09-05$36.55$36.6777.4%24.3%81.5%41.1%84.7%11.4%-4.9%317.2K-26.8M-686.3K0.3421.44N/AN/A14,1604,848100,14683,760
2008-09-08$39.37$36.6780.3%23.8%83.6%44.6%82.9%12.8%-6.2%938.2K-129.8M-708.1K0.5421.17N/AN/A29,13615,828105,96685,770
2008-09-09$35.13$38.33104.7%27.1%91.8%74.6%93.5%11.7%-9.2%289.6K5.2M-703.2K0.7817.90N/AN/A15,03611,790111,08494,866
2008-09-10$34.43$38.3399.8%27.2%87.9%68.5%94.2%12.4%-10.0%95.9K33.1M-692.2K0.6129.24N/AN/A12,9007,836114,888101,316
2008-09-11$35.83$38.33101.9%29.2%85.7%71.2%102.8%11.8%-11.4%538.6K-12.7M-731.5K0.4320.99N/AN/A23,75410,248119,364100,884
2008-09-12$35.37$38.33115.2%33.0%84.6%87.5%112.5%11.0%-21.2%541.9K-15.4M-748.9K0.4718.57N/AN/A17,4428,184123,906104,694
2008-09-15$29.52$36.67128.8%36.9%105.8%100.0%128.3%3.1%-30.0%136.3K115.4M-543.8K0.4528.41N/AN/A25,02011,196126,492106,986
2008-09-16$32.70$36.67126.6%36.3%111.2%97.5%127.0%8.1%-25.7%480.2K80.0M-603.8K0.6126.99N/AN/A25,44615,606131,466109,302
2008-09-17$27.77$36.67148.8%42.6%124.2%100.0%144.6%8.1%-37.7%227.3K144.4M-492.0K1.3143.93N/AN/A32,80243,116138,612111,006
2008-09-18$31.28$36.67144.9%41.5%131.9%96.3%143.0%10.6%-21.8%1.6M22.4M-582.9K0.4042.50N/AN/A45,63618,042148,386102,252
2008-09-19$36.60$36.67120.7%34.6%143.2%73.3%119.5%24.2%-15.7%5.1M-166.5M-640.1K0.6538.84N/AN/A48,62431,440154,83695,646
2008-09-22$33.05$36.67134.1%38.4%147.0%86.0%132.1%11.0%-24.2%390.7K-31.5M-546.6K0.8341.25N/AN/A14,23211,78466,20447,100
2008-09-23$32.15$36.67129.6%37.2%146.1%81.7%126.8%11.2%-14.6%562.1K-15.4M-595.4K0.4924.87N/AN/A10,4525,14279,72256,658
2008-09-24$31.27$36.67129.8%37.2%146.4%81.9%132.9%7.6%-17.3%525.9K-12.7M-599.6K0.7324.64N/AN/A8,9646,49880,67658,926
2008-09-25$32.37$35.00117.6%33.7%146.5%70.3%115.8%9.0%-14.0%664.7K-20.4M-628.1K0.4813.80N/AN/A15,6607,44684,55861,764
2008-09-26$33.77$35.00121.9%35.0%144.8%74.4%122.1%11.9%-13.3%888.7K-51.0M-686.2K0.2514.65N/AN/A21,4805,46690,80463,714
2008-09-29$27.07$35.00156.5%44.9%164.3%100.0%153.8%-6.4%-45.1%518.2K21.1M-545.6K0.3153.40N/AN/A57,20417,71297,12866,306
2008-09-30$29.23$35.00144.3%41.4%166.3%89.2%143.1%9.6%-20.9%1.5M-45.5M-824.3K0.4017.32N/AN/A16,1826,468143,21472,444