UYG Options History — March 2009

In March 2009, UYG traded between $2.50 and $4.95. ATM implied volatility averaged 150.7%, placing in the 45.2% IV rank vs the trailing year. The 30-day expected move averaged 44.9%. IV traded below realized volatility by 23.5% (HV 20d: 174.2%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.23.

Notable Days

  • 2009-03-25: Highest Volume — 70,434 contracts
  • 2009-03-11: Largest IV drop — 32.8% change
  • 2009-03-04: Highest IV Rank — 65.8%
  • 2009-03-09: Largest Expected Move — 58.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.84$2.50$4.95$3.25$4.35
Max Pain$5.00$5.00$5.00$5.00$5.00
ATM IV150.7%116.7%199.2%179.3%138.8%
Expected Move44.9%35.4%58.6%51.4%39.8%
HV 20d174.2%149.2%196.9%151.7%192.5%
HV 60d166.1%155.4%178.8%160.1%178.8%
IV Rank45.2%30.8%65.8%57.4%40.2%
IV Percentile76.0%58.3%97.6%93.7%67.9%
Term Structure-17.6%-51.4%6.5%-18.1%-9.9%
VWIV139.2%122.6%152.5%149.2%144.3%
Skew 25d11.2%-5.7%46.4%0.0%41.4%
Skew 10d31.4%-17.5%102.4%0.0%84.5%
Call IV 25d138.4%107.0%193.7%179.3%117.9%
Put IV 25d149.6%112.2%192.3%179.3%159.3%
Bid-Ask Spread %11.930.8823.832.2517.29
Gamma HHI0.400.130.830.140.48
Net GEX292.9K34.2K1.3M40.2K475.1K
Net DEX-10.5M-49.0M13.5M13.1M-30.7M
Net VEX-207.4K-321.7K-90.8K-109.9K-283.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.230.051.130.160.09
Total Volume34,577.45514,37670,43416,79428,362
Total OI427,008.818287,910516,888408,258380,682

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-03-02$3.25$5.00179.3%51.4%151.7%57.4%0.0%0.0%-18.1%40.2K13.1M-109.9K0.162.25N/AN/A14,4302,364306,186102,072
2009-03-03$3.12$5.00193.0%55.3%151.3%63.2%0.0%-1.3%-49.6%44.4K13.5M-115.6K0.162.30N/AN/A12,3602,016309,582101,928
2009-03-04$3.05$5.00199.2%57.1%151.1%65.8%0.0%1.0%-51.4%44.9K12.3M-114.6K0.060.88N/AN/A14,454888310,860101,994
2009-03-05$2.53$5.00189.7%54.4%161.0%61.8%0.0%12.8%-39.6%34.2K10.0M-92.2K0.101.37N/AN/A29,3162,808314,736101,250
2009-03-06$2.50$5.00154.0%48.7%159.1%46.7%0.0%4.5%-8.2%37.2K8.5M-90.8K1.136.21N/AN/A21,90024,780323,022100,014
2009-03-09$2.52$5.00149.5%58.6%149.2%44.7%0.0%-4.2%-41.5%44.5K6.9M-106.2K0.1313.20N/AN/A17,2022,226332,90496,900
2009-03-10$3.15$5.00173.7%53.0%175.5%55.0%0.0%4.1%-29.7%57.1K7.9M-132.1K0.0511.76N/AN/A42,9962,352341,610105,204
2009-03-11$3.32$5.00116.7%47.8%165.5%30.8%0.0%12.2%-24.1%91.8K5.7M-153.3K0.0614.36N/AN/A43,4462,796368,544105,864
2009-03-12$3.92$5.00148.8%42.7%175.8%44.4%149.2%-2.2%-26.2%200.6K-555.0K-210.7K0.1014.21N/AN/A23,0582,196385,698106,104
2009-03-13$3.93$5.00130.0%37.3%175.9%36.5%130.4%5.7%0.7%213.6K-369.2K-214.4K0.0714.34N/AN/A25,2961,770386,490105,768
2009-03-16$3.80$5.00145.2%41.6%174.5%42.9%141.8%7.6%-12.3%211.6K-1.2M-201.4K0.1213.00N/AN/A24,6662,934393,504106,062
2009-03-17$4.25$5.00132.8%38.1%168.3%37.6%132.8%5.0%-7.4%267.6K-3.9M-236.4K0.1811.15N/AN/A18,8823,330394,602105,468
2009-03-18$4.95$5.00123.3%35.4%176.4%33.6%122.6%5.2%-11.4%1.3M-37.2M-302.4K0.1115.39N/AN/A59,5806,570402,078105,906
2009-03-19$4.25$5.00146.4%42.0%182.1%43.4%145.6%-5.7%-23.9%295.3K-8.0M-243.4K0.2117.67N/AN/A50,90410,584406,224107,976
2009-03-20$3.92$5.00144.0%41.3%184.7%42.4%143.0%5.9%-7.0%261.1K-2.7M-223.9K0.3511.53N/AN/A12,0964,212403,686113,202
2009-03-23$4.90$5.00128.2%36.7%196.9%35.7%127.9%46.4%6.5%387.3K-34.7M-286.3K0.1313.33N/AN/A54,9967,350213,60074,310
2009-03-24$4.53$5.00137.7%39.5%188.3%39.7%141.6%18.3%-3.1%453.2K-33.6M-266.9K0.6814.16N/AN/A24,22816,572240,32479,740
2009-03-25$4.77$5.00145.5%41.7%188.9%43.1%146.4%38.3%-11.2%509.6K-39.7M-297.5K0.1116.16N/AN/A63,2227,212256,36288,536
2009-03-26$4.87$5.00139.5%40.0%188.9%40.5%138.2%24.9%-5.6%575.5K-49.0M-321.7K0.4311.10N/AN/A24,19810,368273,88291,668
2009-03-27$4.62$5.00130.3%37.3%184.7%36.6%132.9%17.4%4.6%527.7K-43.1M-305.0K0.2723.83N/AN/A12,9063,504274,71097,986
2009-03-30$3.90$5.00169.8%48.7%190.4%53.4%152.5%8.7%-18.6%371.5K-23.6M-256.2K0.2416.91N/AN/A20,4184,956277,09299,864
2009-03-31$4.35$5.00138.8%39.8%192.5%40.2%144.3%41.4%-9.9%475.1K-30.7M-283.0K0.0917.29N/AN/A26,0162,346278,652102,030