COST Options History — February 2008

In February 2008, COST traded between $61.92 and $67.79. ATM implied volatility averaged 32.3%, placing in the 56.6% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded below realized volatility by 0.1% (HV 20d: 32.4%). Max pain ranged from $65.00 to $67.50. Net GEX was positive for 3 of 20 trading days. Term structure was in contango for 1 of 20 days. Put/call ratio averaged 1.36.

Notable Days

2008-02-25: Highest Volume — 22,760 contracts
2008-02-14: Largest IV spike — 32.8% change
2008-02-06: Highest IV Rank — 69.0%
2008-02-08: Largest Expected Move — 11.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$64.67	$61.92	$67.79	$67.79	$61.92
Max Pain	$66.25	$65.00	$67.50	$65.00	$65.00
ATM IV	32.3%	26.2%	36.0%	29.6%	33.0%
Expected Move	9.8%	8.5%	11.0%	8.5%	9.5%
HV 20d	32.4%	27.7%	39.0%	37.8%	29.1%
HV 60d	28.9%	27.7%	30.3%	27.9%	30.3%
IV Rank	56.6%	36.6%	69.0%	47.8%	59.1%
IV Percentile	83.0%	54.8%	97.2%	75.4%	86.5%
Term Structure	-1.7%	-2.8%	3.8%	3.8%	-1.9%
VWIV	34.3%	29.8%	38.4%	29.8%	33.1%
Skew 25d	4.3%	2.1%	6.7%	3.2%	2.6%
Skew 10d	8.4%	5.0%	13.4%	7.6%	5.0%
Call IV 25d	32.1%	27.8%	35.0%	27.8%	32.2%
Put IV 25d	36.4%	31.0%	41.2%	31.0%	34.8%
Bid-Ask Spread %	11.52	7.60	16.62	16.62	9.50
Gamma HHI	0.13	0.11	0.15	0.13	0.12
Net GEX	-4.4M	-9.1M	2.7M	2.7M	-7.9M
Net DEX	77.4M	-85.1M	203.8M	-85.1M	203.8M
Net VEX	-2.8M	-3.0M	-2.7M	-2.8M	-2.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.36	0.35	3.51	1.36	1.72
Total Volume	12,074.95	5,217	22,760	10,776	16,057
Total OI	261,714.1	238,102	288,047	238,102	281,563

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 Vol	Put Vol	Call OI	Put OI
2008-02-01	$67.79	$65.00	29.6%	8.5%	37.8%	47.8%	29.8%	3.2%	3.8%	2.7M	-85.1M	-2.8M	1.36	16.62	4,566	6,210	107,214	130,888
2008-02-04	$66.98	$67.50	31.2%	9.8%	37.2%	53.0%	35.1%	6.4%	-2.7%	2.3M	-51.9M	-2.7M	3.04	12.93	2,326	7,082	110,090	131,624
2008-02-05	$64.87	$67.50	34.9%	10.6%	38.9%	65.2%	37.2%	6.7%	-2.4%	-2.0M	69.9M	-2.8M	2.58	12.25	2,800	7,230	110,069	137,803
2008-02-06	$63.71	$67.50	36.0%	11.0%	39.0%	69.0%	37.3%	6.4%	-2.5%	-4.3M	125.7M	-2.7M	1.08	9.35	4,361	4,731	109,465	139,165
2008-02-07	$64.75	$67.50	31.7%	10.5%	37.3%	54.8%	37.0%	6.7%	-2.4%	-3.5M	89.5M	-2.8M	1.63	9.01	6,080	9,889	111,102	142,144
2008-02-08	$63.24	$67.50	33.0%	11.0%	34.9%	59.0%	36.5%	6.3%	-2.8%	-6.8M	179.1M	-2.8M	1.18	8.57	4,836	5,729	114,133	149,767
2008-02-11	$64.00	$67.50	31.8%	10.5%	31.0%	55.0%	38.4%	5.3%	-1.8%	-7.3M	150.1M	-2.8M	0.79	9.28	5,364	4,243	113,249	153,039
2008-02-12	$64.41	$67.50	30.7%	10.6%	29.7%	51.4%	36.9%	4.5%	-2.1%	-7.4M	124.3M	-2.7M	0.88	9.31	9,587	8,477	114,625	152,558
2008-02-13	$65.68	$67.50	26.2%	10.1%	30.2%	36.6%	36.0%	3.8%	-2.0%	-5.2M	49.2M	-3.0M	1.23	12.51	3,072	3,786	118,353	157,440
2008-02-14	$64.01	$65.00	34.8%	10.0%	31.7%	64.9%	35.6%	3.0%	-2.1%	-9.1M	142.1M	-2.9M	1.27	12.26	3,242	4,122	119,022	157,076
2008-02-15	$63.92	$65.00	34.5%	9.9%	31.7%	63.8%	35.8%	4.2%	-1.5%	-6.8M	145.6M	-2.9M	1.03	14.85	2,568	2,649	120,144	157,040
2008-02-19	$62.83	$65.00	34.5%	9.9%	32.2%	63.8%	34.2%	3.3%	-1.1%	-7.1M	149.3M	-2.8M	0.35	13.64	10,809	3,754	100,089	143,942
2008-02-20	$64.56	$65.00	32.3%	9.3%	32.6%	56.6%	32.4%	3.9%	-1.6%	-5.7M	74.4M	-2.8M	0.61	13.21	5,649	3,426	99,149	145,140
2008-02-21	$64.97	$65.00	32.1%	9.2%	29.3%	55.9%	32.0%	3.4%	-1.5%	-5.0M	45.3M	-2.9M	0.54	11.94	8,231	4,485	101,789	147,230
2008-02-22	$66.02	$65.00	32.8%	9.4%	29.2%	58.3%	32.4%	3.8%	-1.9%	-2.9M	-10.3M	-2.9M	0.81	13.05	6,545	5,298	105,822	148,476
2008-02-25	$65.63	$65.00	32.8%	9.4%	27.8%	58.2%	32.6%	3.9%	-2.4%	-3.4M	5.4M	-2.9M	0.70	8.72	13,392	9,368	108,179	151,575
2008-02-26	$66.46	$65.00	30.2%	8.7%	27.7%	49.9%	30.5%	2.8%	-2.0%	1.9M	-84.0M	-3.0M	3.51	15.17	4,304	15,126	126,613	151,502
2008-02-27	$64.49	$67.50	31.2%	8.9%	29.6%	53.1%	31.1%	3.0%	-1.9%	-3.6M	69.5M	-3.0M	1.09	7.60	6,685	7,286	128,277	159,770
2008-02-28	$63.10	$67.50	32.6%	9.3%	30.4%	57.5%	32.4%	2.1%	-1.5%	-6.8M	156.4M	-2.9M	1.85	10.60	2,851	5,283	120,695	158,461
2008-02-29	$61.92	$65.00	33.0%	9.5%	29.1%	59.1%	33.1%	2.6%	-1.9%	-7.9M	203.8M	-2.8M	1.72	9.50	5,909	10,148	122,192	159,371