EWP Options History — March 2009

In March 2009, EWP traded between $24.60 and $31.93. ATM implied volatility averaged 75.0%, placing in the 45.1% IV rank vs the trailing year. The 30-day expected move averaged 21.5%. IV traded above realized volatility by 21.2% (HV 20d: 53.8%). Max pain ranged from $39.00 to $40.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.00.

Notable Days

2009-03-27: Highest Volume — 10 contracts
2009-03-30: Largest IV spike — 12.1% change
2009-03-30: Highest IV Rank — 58.5%
2009-03-30: Largest Expected Move — 26.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.44	$24.60	$31.93	$26.15	$30.03
Max Pain	$39.14	$39.00	$40.00	$40.00	$39.00
ATM IV	75.0%	66.2%	93.5%	67.7%	92.8%
Expected Move	21.5%	19.0%	26.8%	19.4%	26.6%
HV 20d	53.8%	46.9%	59.0%	48.0%	58.2%
HV 60d	51.1%	49.1%	54.4%	49.2%	54.4%
IV Rank	45.1%	38.6%	58.5%	39.7%	58.0%
IV Percentile	91.1%	87.7%	96.8%	89.7%	96.4%
Term Structure	-25.7%	-53.0%	-13.2%	-24.7%	-34.6%
VWIV	80.4%	80.4%	80.4%	80.4%	80.4%
Skew 25d	-12.9%	-37.7%	32.5%	-29.0%	-11.1%
Skew 10d	-36.1%	-54.5%	-10.9%	-44.0%	-33.0%
Call IV 25d	94.9%	53.9%	126.2%	89.1%	126.2%
Put IV 25d	82.0%	58.3%	115.1%	60.0%	115.1%
Bid-Ask Spread %	132.12	120.22	142.62	124.44	139.14
Gamma HHI	0.70	0.41	0.86	0.76	0.41
Net GEX	-447	-572	-22	-455	-22
Net DEX	17.6K	1.9K	26.3K	26.3K	1.9K
Net VEX	-42	-74	-32	-41	-74
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.545	0	10	0	0
Total OI	19.182	18	28	20	28

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2009-03-02	$26.15	$40.00	67.7%	19.4%	48.0%	39.7%	0.0%	-29.0%	-24.7%	-455	26.3K	-41	124.44	N/A	N/A	0	0	6	14
2009-03-03	$26.20	$40.00	67.0%	19.2%	48.1%	39.3%	0.0%	-35.5%	-24.9%	-402	24.9K	-46	122.12	N/A	N/A	0	0	6	14
2009-03-04	$26.70	$40.00	66.2%	19.0%	46.9%	38.6%	80.4%	-30.1%	-21.3%	-480	25.8K	-43	126.44	N/A	N/A	0	2	6	14
2009-03-05	$25.30	$39.00	73.2%	21.0%	49.6%	43.7%	0.0%	-32.3%	-35.2%	-402	22.2K	-33	122.23	N/A	N/A	0	0	6	12
2009-03-06	$25.43	$39.00	74.0%	21.2%	49.4%	44.3%	0.0%	-33.4%	-36.4%	-382	21.4K	-35	122.56	N/A	N/A	0	0	6	12
2009-03-09	$24.60	$39.00	81.5%	23.4%	48.7%	49.8%	0.0%	-35.1%	-53.0%	-341	21.8K	-32	120.22	N/A	N/A	0	0	6	12
2009-03-10	$26.21	$39.00	72.8%	20.9%	55.4%	43.5%	0.0%	-35.2%	-31.9%	-424	21.0K	-37	125.15	N/A	N/A	0	0	6	12
2009-03-11	$26.57	$39.00	70.6%	20.2%	54.4%	41.9%	0.0%	-37.7%	-29.5%	-441	20.7K	-38	126.76	N/A	N/A	0	0	6	12
2009-03-12	$27.71	$39.00	69.7%	20.0%	57.0%	41.2%	0.0%	-26.5%	-20.3%	-497	19.7K	-40	130.41	N/A	N/A	0	0	6	12
2009-03-13	$28.08	$39.00	70.3%	20.1%	57.4%	41.6%	0.0%	-6.9%	-16.8%	-509	19.2K	-41	131.47	N/A	N/A	0	0	6	12
2009-03-16	$28.16	$39.00	73.3%	21.0%	57.4%	43.8%	0.0%	-4.3%	-20.1%	-514	19.1K	-39	132.43	N/A	N/A	0	0	6	12
2009-03-17	$29.10	$39.00	71.9%	20.6%	51.3%	42.8%	0.0%	27.4%	-19.6%	-540	17.9K	-40	134.77	N/A	N/A	0	0	6	12
2009-03-18	$30.28	$39.00	70.3%	20.2%	53.1%	41.7%	0.0%	-6.7%	-15.2%	-557	16.1K	-41	137.66	N/A	N/A	0	0	6	12
2009-03-19	$30.23	$39.00	71.6%	20.5%	53.1%	42.6%	0.0%	-7.2%	-13.2%	-558	16.2K	-40	138.34	N/A	N/A	0	0	6	12
2009-03-20	$29.66	$39.00	73.5%	21.1%	53.5%	43.9%	0.0%	-8.9%	-26.6%	-552	17.1K	-39	137.23	N/A	N/A	0	0	6	12
2009-03-23	$31.93	$39.00	77.3%	22.2%	56.4%	46.7%	0.0%	2.0%	-22.5%	-482	13.0K	-40	138.46	N/A	N/A	0	0	6	12
2009-03-24	$30.74	$39.00	76.4%	21.9%	56.7%	46.1%	0.0%	-5.2%	-24.6%	-513	15.1K	-39	138.18	N/A	N/A	0	0	6	12
2009-03-25	$31.59	$39.00	75.7%	21.7%	56.5%	45.6%	0.0%	2.7%	-22.2%	-568	13.9K	-36	140.87	N/A	N/A	0	0	6	12
2009-03-26	$31.76	$39.00	77.1%	22.1%	56.4%	46.6%	0.0%	2.8%	-26.0%	-572	13.6K	-35	142.62	N/A	N/A	0	0	6	12
2009-03-27	$30.34	$39.00	83.4%	23.9%	59.0%	51.2%	0.0%	-6.9%	-19.1%	-569	16.0K	-34	139.17	N/A	N/A	10	0	6	12
2009-03-30	$29.01	$39.00	93.5%	26.8%	57.3%	58.5%	0.0%	32.5%	-28.1%	-58	5.5K	-73	135.90	N/A	N/A	0	0	16	12
2009-03-31	$30.03	$39.00	92.8%	26.6%	58.2%	58.0%	0.0%	-11.1%	-34.6%	-22	1.9K	-74	139.14	N/A	N/A	0	0	16	12