TIME Options History — February 2018

In February 2018, TIME traded between $18.50 and $18.50. ATM implied volatility averaged 10.3%, placing in the 3.0% IV rank vs the trailing year. The 30-day expected move averaged 2.7%. IV traded above realized volatility by 8.6% (HV 20d: 1.7%). Max pain ranged from $17.50 to $17.50. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 2 of 19 days. Put/call ratio averaged 1.12.

Notable Days

2018-02-01: Highest Volume — 937 contracts
2018-02-07: Largest IV drop — 42.6% change
2018-02-06: Highest IV Rank — 6.7%
2018-02-27: Largest Expected Move — 3.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.50	$18.50	$18.50	$18.50	$18.50
Max Pain	$17.50	$17.50	$17.50	$17.50	$17.50
ATM IV	10.3%	7.9%	13.7%	11.0%	10.6%
Expected Move	2.7%	2.1%	3.5%	2.1%	3.0%
HV 20d	1.7%	1.0%	2.5%	2.5%	1.0%
HV 60d	38.6%	4.3%	63.9%	63.9%	4.3%
IV Rank	3.0%	0.5%	6.7%	3.8%	3.3%
IV Percentile	4.9%	0.4%	9.5%	3.2%	7.1%
Term Structure	-2.8%	-6.1%	6.2%	-2.5%	6.2%
VWIV	9.3%	7.2%	12.4%	7.2%	10.6%
Skew 25d	23.8%	21.5%	27.2%	22.2%	25.5%
Skew 10d	81.8%	74.1%	92.6%	75.6%	90.1%
Call IV 25d	15.3%	13.9%	17.2%	13.9%	16.6%
Put IV 25d	39.2%	36.0%	44.4%	36.1%	42.1%
Bid-Ask Spread %	15.38	15.38	15.38	15.38	15.38
Gamma HHI	0.63	0.50	0.67	0.67	0.50
Net GEX	123.4K	-44.5K	148.5K	148.4K	-44.5K
Net DEX	-2.9M	-4.1M	-2.4M	-3.1M	-3.3M
Net VEX	-36.6K	-44.2K	-9.6K	-44.2K	-18.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.12	1.12	1.12	1.12	1.12
Total Volume	932.579	925	937	937	925
Total OI	11,868	11,662	12,220	12,220	11,723

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-02-01	$18.50	$17.50	11.0%	2.1%	2.5%	3.8%	7.2%	22.2%	-2.5%	148.4K	-3.1M	-44.2K	1.12	15.38	N/A	N/A	443	494	6,989	5,231
2018-02-02	$18.50	$17.50	11.4%	2.1%	2.1%	4.2%	7.3%	22.4%	-2.6%	147.2K	-3.0M	-43.9K	1.12	15.38	N/A	N/A	443	494	6,923	5,231
2018-02-05	$18.50	$17.50	13.1%	2.2%	2.1%	6.0%	7.6%	22.6%	-2.8%	147.6K	-3.0M	-43.3K	1.12	15.38	N/A	N/A	443	494	6,923	5,231
2018-02-06	$18.50	$17.50	13.7%	2.2%	2.1%	6.7%	7.8%	23.0%	-2.9%	147.7K	-3.0M	-43.2K	1.12	15.38	N/A	N/A	443	494	6,923	5,231
2018-02-07	$18.50	$17.50	7.9%	2.3%	2.0%	0.5%	7.9%	21.5%	-2.9%	148.5K	-2.8M	-42.8K	1.12	15.38	N/A	N/A	443	494	6,813	5,231
2018-02-08	$18.50	$17.50	8.0%	2.3%	2.0%	0.6%	8.0%	21.6%	-3.0%	148.5K	-2.8M	-42.6K	1.12	15.38	N/A	N/A	443	494	6,813	5,231
2018-02-09	$18.50	$17.50	8.2%	2.3%	2.0%	0.8%	8.1%	21.6%	-3.1%	142.5K	-2.6M	-41.5K	1.12	15.38	N/A	N/A	443	494	6,612	5,231
2018-02-12	$18.50	$17.50	8.6%	2.5%	2.0%	1.2%	8.6%	21.8%	-3.4%	143.3K	-2.6M	-41.0K	1.12	15.38	N/A	N/A	443	494	6,612	5,231
2018-02-13	$18.50	$17.50	8.8%	2.5%	1.7%	1.4%	8.7%	21.8%	-3.5%	138.1K	-2.4M	-40.0K	1.12	15.38	N/A	N/A	443	494	6,438	5,224
2018-02-14	$18.50	$17.50	8.9%	2.6%	1.6%	1.6%	8.9%	24.4%	-3.6%	134.5K	-2.4M	-39.9K	1.12	15.38	N/A	N/A	443	494	6,438	5,224
2018-02-15	$18.50	$17.50	9.1%	2.6%	1.6%	1.8%	9.1%	24.8%	-3.7%	133.9K	-2.4M	-39.7K	1.12	15.38	N/A	N/A	443	494	6,438	5,224
2018-02-16	$18.50	$17.50	9.4%	2.7%	1.6%	2.1%	9.4%	24.8%	-4.0%	134.0K	-2.4M	-39.5K	1.12	15.38	N/A	N/A	443	494	6,438	5,224
2018-02-20	$18.50	$17.50	10.3%	2.9%	1.4%	3.0%	10.3%	25.5%	-4.6%	145.6K	-2.9M	-40.2K	1.12	15.38	N/A	N/A	436	489	6,838	5,212
2018-02-21	$18.50	$17.50	10.5%	3.0%	1.4%	3.3%	10.5%	25.7%	-4.7%	146.3K	-3.0M	-39.1K	1.12	15.38	N/A	N/A	436	489	6,737	4,986
2018-02-22	$18.50	$17.50	10.8%	3.1%	1.4%	3.6%	10.8%	25.9%	-4.9%	146.4K	-3.0M	-38.9K	1.12	15.38	N/A	N/A	436	489	6,737	4,986
2018-02-23	$18.50	$17.50	11.1%	3.2%	1.4%	3.8%	11.1%	26.2%	-5.1%	146.5K	-3.0M	-38.7K	1.12	15.38	N/A	N/A	436	489	6,737	4,986
2018-02-26	$18.50	$17.50	12.0%	3.4%	1.4%	4.9%	12.0%	24.0%	3.9%	49.3K	-4.1M	-9.7K	1.12	15.38	N/A	N/A	436	489	6,737	4,986
2018-02-27	$18.50	$17.50	12.4%	3.5%	1.4%	5.2%	12.4%	27.2%	-6.1%	41.0K	-4.0M	-9.6K	1.12	15.38	N/A	N/A	436	489	6,737	4,986
2018-02-28	$18.50	$17.50	10.6%	3.0%	1.0%	3.3%	10.6%	25.5%	6.2%	-44.5K	-3.3M	-18.4K	1.12	15.38	N/A	N/A	436	489	6,737	4,986