ACTU Options History — March 2008

In March 2008, ACTU traded between $3.93 and $4.74. ATM implied volatility averaged 51.5%, placing in the 19.0% IV rank vs the trailing year. The 30-day expected move averaged 13.5%. IV traded below realized volatility by 0.8% (HV 20d: 52.3%). Max pain ranged from $5.00 to $5.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 0.07.

Notable Days

2008-03-11: Highest Volume — 117 contracts
2008-03-06: Largest IV spike — 61.9% change
2008-03-12: Highest IV Rank — 44.5%
2008-03-06: Largest Expected Move — 21.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.30	$3.93	$4.74	$4.74	$4.10
Max Pain	$5.00	$5.00	$5.00	$5.00	$5.00
ATM IV	51.5%	41.4%	82.0%	44.7%	48.5%
Expected Move	13.5%	11.0%	21.0%	12.8%	13.9%
HV 20d	52.3%	38.8%	58.7%	45.4%	57.0%
HV 60d	79.9%	77.9%	81.5%	78.3%	79.6%
IV Rank	19.0%	10.6%	44.5%	13.3%	16.5%
IV Percentile	43.5%	18.3%	96.8%	24.6%	40.1%
Term Structure	14.7%	-28.8%	32.2%	5.3%	19.5%
VWIV	41.6%	35.8%	48.1%	48.1%	40.7%
Bid-Ask Spread %	80.72	52.50	105.48	105.48	52.50
Gamma HHI	0.79	0.70	0.87	0.87	0.70
Net GEX	3.2K	1.7K	5.4K	5.4K	2.5K
Net DEX	-84.9K	-130.0K	-24.6K	-115.7K	-89.4K
Net VEX	-529	-691	-285	-487	-597
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.07	0.00	1.21	0.00	0.00
Total Volume	31.3	0	117	5	10
Total OI	1,546.7	1,407	1,722	1,423	1,620

Daily Data (20 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
2008-03-03	$4.74	$5.00	44.7%	12.8%	45.4%	13.3%	0.0%	0.0%	5.3%	5.4K	-115.7K	-487	0.00	105.48	N/A	N/A	5	0	1,321	102
2008-03-04	$4.63	$5.00	43.6%	12.5%	38.9%	12.4%	0.0%	0.0%	11.6%	4.7K	-96.8K	-471	0.00	98.83	N/A	N/A	17	0	1,320	102
2008-03-05	$4.65	$5.00	45.2%	12.9%	38.8%	13.7%	48.1%	0.0%	3.8%	5.0K	-93.4K	-459	0.00	98.33	N/A	N/A	9	0	1,319	102
2008-03-06	$4.28	$5.00	73.1%	21.0%	47.1%	37.1%	0.0%	0.0%	-28.8%	3.5K	-80.3K	-443	0.00	87.81	N/A	N/A	27	0	1,310	102
2008-03-07	$4.24	$5.00	47.4%	11.0%	46.9%	15.6%	0.0%	0.0%	15.6%	3.2K	-39.0K	-340	0.00	95.49	N/A	N/A	2	0	1,305	102
2008-03-10	$3.93	$5.00	66.9%	13.1%	53.0%	31.9%	0.0%	0.0%	7.4%	1.7K	-24.6K	-285	0.00	95.86	N/A	N/A	17	0	1,307	102
2008-03-11	$4.05	$5.00	75.5%	15.0%	53.7%	39.1%	0.0%	0.0%	16.3%	2.0K	-39.4K	-348	0.09	95.53	N/A	N/A	107	10	1,330	111
2008-03-12	$4.07	$5.00	82.0%	14.6%	53.9%	44.5%	0.0%	0.0%	14.7%	2.3K	-58.1K	-467	0.00	96.27	N/A	N/A	0	0	1,424	112
2008-03-13	$4.18	$5.00	50.7%	14.5%	50.3%	18.3%	0.0%	0.0%	16.4%	2.5K	-64.5K	-483	1.21	96.12	N/A	N/A	33	40	1,424	112
2008-03-14	$4.20	$5.00	46.5%	13.3%	50.4%	14.8%	0.0%	0.0%	21.8%	2.5K	-66.3K	-539	0.00	96.20	N/A	N/A	21	0	1,454	142
2008-03-17	$4.02	$5.00	56.2%	16.1%	52.0%	23.0%	0.0%	0.0%	5.3%	2.1K	-59.4K	-495	0.00	98.23	N/A	N/A	90	0	1,444	142
2008-03-18	$4.31	$5.00	45.8%	13.1%	58.7%	14.3%	0.0%	0.0%	15.9%	3.1K	-97.0K	-616	0.00	81.16	N/A	N/A	16	0	1,534	142
2008-03-19	$4.27	$5.00	45.7%	13.1%	58.6%	14.2%	0.0%	0.0%	9.7%	3.0K	-95.9K	-624	0.00	83.36	N/A	N/A	30	0	1,550	142
2008-03-20	$4.33	$5.00	42.0%	12.1%	57.5%	11.1%	0.0%	0.0%	24.0%	3.3K	-100.0K	-644	0.00	57.05	N/A	N/A	7	0	1,580	142
2008-03-24	$4.45	$5.00	41.7%	11.9%	58.6%	10.8%	35.8%	0.0%	22.8%	3.9K	-113.6K	-667	0.00	57.22	N/A	N/A	50	0	1,460	137
2008-03-25	$4.45	$5.00	47.6%	13.6%	57.3%	15.7%	0.0%	0.0%	27.7%	3.5K	-130.0K	-691	0.00	54.23	N/A	N/A	2	0	1,475	137
2008-03-26	$4.38	$5.00	42.0%	12.0%	56.0%	11.1%	0.0%	0.0%	25.3%	3.5K	-115.1K	-652	0.00	54.81	N/A	N/A	10	0	1,473	137
2008-03-27	$4.38	$5.00	42.9%	12.3%	55.8%	11.8%	40.7%	0.0%	32.2%	3.5K	-113.8K	-644	0.00	54.42	N/A	N/A	113	0	1,473	137
2008-03-28	$4.30	$5.00	41.4%	11.9%	55.9%	10.6%	0.0%	0.0%	27.7%	3.1K	-104.9K	-623	0.00	55.46	N/A	N/A	10	0	1,469	137
2008-03-31	$4.10	$5.00	48.5%	13.9%	57.0%	16.5%	0.0%	0.0%	19.5%	2.5K	-89.4K	-597	0.00	52.50	N/A	N/A	10	0	1,483	137