UYG Options History — December 2008

In December 2008, UYG traded between $7.23 and $11.43. ATM implied volatility averaged 134.4%, placing in the 38.3% IV rank vs the trailing year. The 30-day expected move averaged 38.9%. IV traded below realized volatility by 88.2% (HV 20d: 222.6%). Max pain ranged from $8.33 to $10.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.49.

Notable Days

  • 2008-12-08: Highest Volume — 107,076 contracts
  • 2008-12-16: Largest IV drop — 20.2% change
  • 2008-12-01: Highest IV Rank — 63.1%
  • 2008-12-01: Largest Expected Move — 55.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.36$7.23$11.43$7.23$10.05
Max Pain$9.77$8.33$10.00$8.33$10.00
ATM IV134.4%91.8%192.7%192.7%91.8%
Expected Move38.9%26.3%55.2%55.2%26.3%
HV 20d222.6%136.0%247.8%235.6%136.0%
HV 60d195.7%190.5%201.8%194.9%191.3%
IV Rank38.3%20.3%63.1%63.1%20.3%
IV Percentile77.4%56.4%97.0%97.0%56.4%
Term Structure5.4%-5.8%22.0%-3.7%13.4%
VWIV133.2%93.3%192.8%192.8%93.3%
Skew 25d20.1%1.4%41.1%7.6%25.7%
Skew 10d40.6%-1.0%77.4%14.3%77.4%
Call IV 25d125.1%83.5%190.4%190.4%83.5%
Put IV 25d145.2%108.6%198.0%198.0%109.2%
Bid-Ask Spread %11.724.1819.065.349.52
Gamma HHI0.290.190.680.210.26
Net GEX1.0M401.8K3.2M401.8K821.5K
Net DEX-20.6M-69.1M2.9M2.9M-19.5M
Net VEX-250.5K-306.4K-178.0K-178.0K-255.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.490.141.230.620.26
Total Volume41,764.0915,832107,07674,23228,770
Total OI361,427.182227,028480,756330,510270,840

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-12-01$7.23$8.33192.7%55.2%235.6%63.1%192.8%7.6%-3.7%401.8K2.9M-178.0K0.625.34N/AN/A45,92428,308245,23885,272
2008-12-02$8.27$8.33179.6%51.5%242.6%57.5%181.9%33.6%-5.6%468.8K-3.6M-209.3K0.344.18N/AN/A26,5988,988242,91695,694
2008-12-03$9.12$8.33185.2%53.1%244.6%59.9%171.6%41.1%-5.6%651.1K-19.5M-231.6K1.234.69N/AN/A25,01430,690248,37089,040
2008-12-04$8.83$10.00164.9%47.3%240.4%51.3%154.9%30.4%0.6%612.3K-9.0M-227.2K0.564.26N/AN/A28,82416,092253,842100,674
2008-12-05$10.18$10.00132.9%41.6%242.7%37.7%145.1%36.7%-5.8%911.3K-33.4M-268.6K0.5712.61N/AN/A36,22820,706262,554107,544
2008-12-08$11.43$10.00136.7%37.5%245.6%39.3%131.5%38.4%-2.5%1.1M-69.1M-281.1K0.1413.20N/AN/A93,79813,278270,180110,166
2008-12-09$10.43$10.00146.0%43.5%245.2%43.3%144.5%28.0%-5.3%1.2M-52.0M-306.4K0.3614.51N/AN/A45,00016,188294,474112,944
2008-12-10$10.35$10.00137.9%43.4%244.9%39.8%144.3%32.6%-1.9%1.2M-45.4M-305.0K0.4114.54N/AN/A26,70610,938301,176118,662
2008-12-11$8.78$10.00155.0%44.4%247.8%47.1%152.1%6.8%-2.0%840.5K-10.1M-265.7K0.3117.16N/AN/A41,69412,966309,330122,910
2008-12-12$9.25$10.00150.7%43.2%242.6%45.3%149.7%13.2%-0.6%1.2M-16.1M-269.5K0.7018.94N/AN/A17,49012,246326,334122,838
2008-12-15$8.58$10.00156.4%44.8%240.9%47.7%154.5%14.9%-1.3%921.1K-3.2M-241.0K0.5717.08N/AN/A13,9447,962329,682125,178
2008-12-16$10.25$10.00124.9%35.8%247.6%34.3%127.0%15.2%17.3%1.8M-49.1M-282.3K0.2215.45N/AN/A42,2229,462331,938130,800
2008-12-17$10.15$10.00127.8%36.6%247.5%35.5%122.7%20.1%11.2%2.1M-51.3M-284.3K0.3019.06N/AN/A32,8869,894342,486131,268
2008-12-18$9.58$10.00126.8%36.3%230.8%35.1%126.4%10.0%8.1%2.2M-26.5M-262.9K0.6413.82N/AN/A16,88410,782348,318132,438
2008-12-19$9.67$10.00115.0%33.0%215.1%30.1%115.3%12.0%16.9%3.2M-15.6M-256.7K0.199.24N/AN/A53,5089,966346,848131,640
2008-12-22$9.03$10.00115.1%33.0%216.8%30.2%115.4%1.4%12.2%529.4K-8.4M-222.7K0.5610.40N/AN/A29,88016,602159,69067,338
2008-12-23$8.62$10.00107.0%30.7%200.7%26.7%102.0%6.9%14.2%523.3K-4.5M-237.0K0.3712.70N/AN/A20,5327,512177,94879,260
2008-12-24$8.93$10.00100.4%28.8%198.3%23.9%101.3%7.0%22.0%533.6K-6.2M-238.6K0.4611.62N/AN/A3,9841,848174,28878,414
2008-12-26$8.98$10.00104.8%30.0%195.8%25.8%94.1%19.0%11.9%514.6K-4.5M-230.9K0.469.23N/AN/A5,0342,310174,23478,168
2008-12-29$8.75$10.00110.7%31.7%195.0%28.3%107.6%17.9%13.2%474.2K-1.4M-217.7K0.9512.07N/AN/A12,59411,982175,57879,320
2008-12-30$9.38$10.0094.9%27.2%141.5%21.6%101.3%24.0%13.0%599.8K-8.2M-240.0K0.588.15N/AN/A7,9504,626179,26886,298
2008-12-31$10.05$10.0091.8%26.3%136.0%20.3%93.3%25.7%13.4%821.5K-19.5M-255.4K0.269.52N/AN/A22,7885,982181,93288,908