AGQ Options History — April 2012

In April 2012, AGQ traded between $48.97 and $56.78. ATM implied volatility averaged 59.4%, placing in the 6.8% IV rank vs the trailing year. The 30-day expected move averaged 16.5%. IV traded above realized volatility by 3.5% (HV 20d: 55.9%). Max pain ranged from $47.00 to $55.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 0.60.

Notable Days

2012-04-03: Highest Volume — 12,277 contracts
2012-04-09: Largest IV spike — 28.2% change
2012-04-04: Highest IV Rank — 19.1%
2012-04-09: Largest Expected Move — 18.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$51.70	$48.97	$56.78	$56.78	$49.93
Max Pain	$52.40	$47.00	$55.00	$55.00	$49.00
ATM IV	59.4%	47.4%	73.3%	62.3%	55.5%
Expected Move	16.5%	14.6%	18.4%	16.0%	14.6%
HV 20d	55.9%	50.9%	59.9%	57.2%	51.3%
HV 60d	64.0%	61.1%	66.7%	64.6%	61.1%
IV Rank	6.8%	0.0%	19.1%	8.8%	7.3%
IV Percentile	8.1%	0.0%	31.3%	10.7%	2.0%
Term Structure	1.8%	-0.7%	4.9%	3.6%	2.5%
VWIV	58.5%	51.7%	65.2%	56.8%	51.7%
Skew 25d	3.4%	2.2%	4.4%	2.2%	3.9%
Skew 10d	7.0%	3.9%	9.3%	4.8%	6.3%
Call IV 25d	57.0%	49.6%	63.8%	56.4%	49.6%
Put IV 25d	60.4%	53.5%	67.3%	58.6%	53.5%
Bid-Ask Spread %	40.02	23.85	66.79	57.45	40.32
Gamma HHI	0.07	0.05	0.14	0.10	0.07
Net GEX	1.1M	66.3K	2.5M	1.7M	776.4K
Net DEX	6.5M	-21.7M	20.4M	-21.7M	8.8M
Net VEX	-391.9K	-456.3K	-326.5K	-456.3K	-357.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.60	0.23	1.15	0.27	0.47
Total Volume	6,209.85	1,889	12,277	8,217	5,303
Total OI	73,897.3	54,146	84,402	67,737	64,880

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
2012-04-02	$56.78	$55.00	62.3%	16.0%	57.2%	8.8%	56.8%	2.2%	3.6%	1.7M	-21.7M	-456.3K	0.27	57.45	N/A	N/A	6,480	1,737	44,850	22,887
2012-04-03	$55.28	$55.00	68.6%	15.5%	53.3%	14.7%	55.2%	2.6%	3.5%	2.0M	-14.1M	-450.5K	0.23	66.79	N/A	N/A	9,946	2,331	48,833	23,144
2012-04-04	$50.76	$55.00	73.3%	17.5%	59.9%	19.1%	61.9%	3.3%	2.0%	788.1K	15.7M	-417.9K	0.84	59.83	N/A	N/A	4,981	4,186	52,231	24,122
2012-04-05	$52.11	$55.00	52.8%	16.1%	59.9%	0.0%	57.4%	3.3%	4.9%	1.2M	11.1M	-440.8K	0.85	65.03	N/A	N/A	3,649	3,085	53,599	26,828
2012-04-09	$51.56	$53.00	67.7%	18.4%	58.9%	14.0%	65.2%	3.5%	-0.1%	1.2M	5.1M	-427.2K	0.44	23.85	N/A	N/A	3,039	1,351	52,511	24,599
2012-04-10	$52.33	$53.00	71.8%	17.9%	58.4%	17.8%	63.2%	4.2%	0.1%	1.3M	1.4M	-428.8K	0.35	27.08	N/A	N/A	4,733	1,639	53,097	25,348
2012-04-11	$51.83	$53.00	58.2%	17.5%	58.1%	5.1%	62.0%	3.1%	0.1%	1.4M	6.8M	-417.5K	0.37	30.55	N/A	N/A	1,391	514	54,215	25,790
2012-04-12	$54.35	$52.00	58.9%	16.9%	56.7%	5.7%	60.2%	3.2%	1.4%	2.5M	-18.3M	-428.7K	0.57	31.51	N/A	N/A	4,776	2,742	54,546	25,886
2012-04-13	$51.39	$53.00	61.6%	17.7%	59.6%	8.3%	63.2%	2.3%	1.4%	1.1M	13.7M	-406.2K	0.93	30.42	N/A	N/A	3,339	3,121	56,001	26,878
2012-04-16	$51.40	$53.00	63.5%	18.2%	59.6%	10.0%	63.4%	4.4%	-0.7%	1.1M	13.8M	-388.0K	0.64	31.99	N/A	N/A	2,172	1,393	54,488	26,223
2012-04-17	$52.17	$52.00	59.8%	17.1%	59.1%	6.6%	62.0%	3.6%	1.1%	1.4M	9.1M	-389.4K	0.45	37.94	N/A	N/A	2,276	1,030	55,348	26,616
2012-04-18	$51.64	$52.00	56.4%	16.2%	56.4%	3.4%	57.2%	3.0%	3.0%	1.2M	15.3M	-376.8K	0.39	36.38	N/A	N/A	1,355	534	56,235	26,822
2012-04-19	$52.17	$52.00	56.3%	16.1%	56.5%	3.3%	57.4%	3.6%	2.0%	1.4M	11.2M	-375.5K	1.06	37.77	N/A	N/A	2,059	2,175	56,347	26,721
2012-04-20	$51.92	$52.00	52.4%	15.0%	54.3%	0.0%	53.4%	4.4%	3.4%	66.3K	19.6M	-361.4K	0.48	27.99	N/A	N/A	4,276	2,040	56,467	27,935
2012-04-23	$49.34	$53.00	57.0%	16.3%	54.4%	4.3%	59.2%	3.4%	2.1%	538.0K	16.1M	-329.6K	1.15	45.15	N/A	N/A	2,447	2,816	35,362	18,784
2012-04-24	$49.17	$52.00	55.8%	16.0%	51.2%	3.2%	56.8%	3.6%	1.3%	410.5K	18.4M	-333.3K	0.53	44.14	N/A	N/A	1,782	948	36,337	20,919
2012-04-25	$48.97	$52.00	57.1%	16.4%	50.9%	4.4%	58.2%	3.1%	1.3%	370.6K	20.4M	-326.5K	0.68	36.82	N/A	N/A	6,833	4,627	36,983	21,444
2012-04-26	$50.08	$50.00	51.1%	14.7%	51.1%	0.0%	51.7%	2.8%	2.3%	866.5K	5.7M	-357.1K	0.61	37.93	N/A	N/A	4,725	2,876	41,172	24,300
2012-04-27	$50.74	$47.00	47.4%	14.9%	51.2%	0.0%	53.9%	4.1%	1.1%	1.2M	-7.3M	-368.7K	0.65	31.43	N/A	N/A	5,754	3,736	43,802	25,396
2012-04-30	$49.93	$49.00	55.5%	14.6%	51.3%	7.3%	51.7%	3.9%	2.5%	776.4K	8.8M	-357.4K	0.47	40.32	N/A	N/A	3,597	1,706	41,432	23,448