DSX Options History — March 2010

In March 2010, DSX traded between $13.95 and $15.13. ATM implied volatility averaged 33.7%, placing in the 8.3% IV rank vs the trailing year. The 30-day expected move averaged 9.8%. IV traded below realized volatility by 1.4% (HV 20d: 35.1%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 23 of 23 days. Put/call ratio averaged 0.45.

Notable Days

2010-03-19: Highest Volume — 4,017 contracts
2010-03-11: Largest IV spike — 18.5% change
2010-03-15: Highest IV Rank — 15.1%
2010-03-15: Largest Expected Move — 10.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.53	$13.95	$15.13	$13.95	$15.12
Max Pain	$15.00	$15.00	$15.00	$15.00	$15.00
ATM IV	33.7%	27.7%	37.9%	36.7%	27.7%
Expected Move	9.8%	7.9%	10.9%	10.5%	7.9%
HV 20d	35.1%	28.4%	46.0%	46.0%	31.6%
HV 60d	40.6%	39.3%	41.3%	40.2%	39.3%
IV Rank	8.3%	0.0%	15.1%	10.1%	0.0%
IV Percentile	2.5%	0.4%	6.3%	1.6%	0.4%
Term Structure	3.9%	0.3%	7.6%	0.3%	7.6%
VWIV	34.3%	27.7%	37.8%	37.8%	27.7%
Skew 25d	6.1%	-7.7%	13.5%	4.2%	3.4%
Skew 10d	11.4%	-5.7%	22.3%	13.3%	5.2%
Call IV 25d	30.5%	25.0%	37.8%	37.8%	25.0%
Put IV 25d	36.6%	25.8%	45.8%	42.0%	28.4%
Bid-Ask Spread %	14.06	6.82	25.87	19.10	11.83
Gamma HHI	0.48	0.29	0.70	0.36	0.51
Net GEX	381.3K	88.6K	863.6K	150.1K	493.9K
Net DEX	-3.1M	-8.8M	1.4M	949.8K	-8.8M
Net VEX	-82.2K	-92.9K	-73.8K	-73.8K	-92.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.45	0.10	2.99	0.46	0.26
Total Volume	1,708.565	642	4,017	1,216	1,278
Total OI	42,664.565	31,669	49,624	43,164	39,016

Daily Data (23 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
2010-03-01	$13.95	$15.00	36.7%	10.5%	46.0%	10.1%	37.8%	4.2%	0.3%	150.1K	949.8K	-73.8K	0.46	19.10	N/A	N/A	833	383	25,059	18,105
2010-03-02	$14.19	$15.00	35.5%	10.2%	40.6%	8.8%	35.6%	8.9%	2.5%	226.9K	-789.9K	-76.6K	0.13	7.90	N/A	N/A	961	128	25,236	18,142
2010-03-03	$14.45	$15.00	34.2%	9.8%	40.8%	7.6%	34.3%	12.6%	3.5%	299.2K	-2.4M	-78.5K	0.16	9.54	N/A	N/A	1,693	270	25,789	18,236
2010-03-04	$14.60	$15.00	32.5%	9.3%	40.9%	6.0%	32.5%	0.2%	3.8%	374.7K	-3.7M	-80.3K	0.26	6.82	N/A	N/A	753	192	26,293	18,278
2010-03-05	$14.59	$15.00	33.6%	10.3%	34.2%	7.3%	36.3%	10.4%	3.3%	380.8K	-3.9M	-80.8K	0.71	14.23	N/A	N/A	942	665	26,712	18,370
2010-03-08	$14.86	$15.00	35.5%	10.7%	34.6%	9.8%	37.3%	3.8%	3.5%	466.0K	-6.4M	-81.0K	0.10	22.69	N/A	N/A	2,474	249	26,858	18,301
2010-03-09	$14.23	$15.00	34.8%	10.7%	37.8%	8.9%	37.6%	8.5%	2.4%	342.6K	-1.5M	-77.5K	0.57	20.62	N/A	N/A	1,106	636	27,759	18,393
2010-03-10	$14.72	$15.00	31.5%	10.7%	38.2%	5.2%	37.6%	13.5%	3.4%	549.3K	-4.9M	-82.2K	0.26	13.61	N/A	N/A	1,108	287	28,096	18,587
2010-03-11	$14.78	$15.00	37.4%	10.7%	37.2%	12.9%	37.4%	12.7%	2.6%	612.4K	-6.1M	-82.7K	0.40	22.86	N/A	N/A	457	185	28,519	18,674
2010-03-12	$14.89	$15.00	35.9%	10.3%	36.5%	12.1%	35.0%	13.5%	4.0%	687.3K	-6.8M	-83.4K	0.24	25.87	N/A	N/A	1,311	311	28,574	18,692
2010-03-15	$14.48	$15.00	37.9%	10.9%	38.1%	15.1%	36.8%	11.1%	2.6%	540.6K	-2.8M	-79.1K	0.22	14.56	N/A	N/A	919	205	28,816	18,812
2010-03-16	$14.76	$15.00	35.1%	10.1%	34.7%	11.1%	35.0%	10.8%	4.2%	797.3K	-4.8M	-80.0K	0.77	9.85	N/A	N/A	1,430	1,104	28,908	18,906
2010-03-17	$14.67	$15.00	34.7%	9.9%	34.8%	10.5%	36.3%	11.7%	4.3%	863.6K	-4.2M	-82.3K	0.30	11.22	N/A	N/A	714	214	29,557	19,507
2010-03-18	$14.48	$15.00	33.5%	9.6%	35.0%	8.7%	33.5%	9.2%	4.7%	410.8K	-541.0K	-79.5K	2.99	10.11	N/A	N/A	362	1,084	29,784	19,597
2010-03-19	$14.24	$15.00	33.1%	9.5%	35.1%	8.1%	33.4%	7.4%	5.7%	98.2K	1.4M	-77.8K	0.68	25.12	N/A	N/A	2,397	1,620	29,717	19,907
2010-03-22	$14.22	$15.00	33.6%	9.6%	35.0%	8.9%	33.7%	5.7%	2.7%	88.6K	581.4K	-79.7K	0.28	10.32	N/A	N/A	2,589	716	16,349	15,320
2010-03-23	$14.32	$15.00	32.5%	9.3%	28.4%	7.2%	31.3%	7.4%	4.0%	126.8K	-320.5K	-83.4K	0.33	10.14	N/A	N/A	1,929	627	17,701	15,422
2010-03-24	$14.19	$15.00	34.9%	10.0%	28.7%	10.8%	34.8%	-7.7%	2.3%	156.1K	-1.2M	-84.9K	0.38	10.81	N/A	N/A	774	294	19,094	15,948
2010-03-25	$14.43	$15.00	31.4%	9.0%	28.6%	5.6%	31.5%	-3.4%	5.5%	205.5K	-2.3M	-88.5K	0.20	11.24	N/A	N/A	692	140	19,761	16,182
2010-03-26	$14.24	$15.00	33.0%	9.5%	29.1%	8.0%	32.7%	-5.7%	4.8%	204.0K	-1.9M	-87.0K	0.41	16.03	N/A	N/A	600	248	20,106	15,972
2010-03-29	$14.63	$15.00	30.8%	8.8%	30.5%	4.7%	30.8%	-1.8%	5.5%	291.6K	-3.9M	-86.7K	0.17	10.14	N/A	N/A	1,106	186	20,488	16,134
2010-03-30	$15.13	$15.00	29.6%	8.5%	32.1%	2.9%	29.6%	4.0%	6.3%	403.5K	-8.0M	-90.8K	0.15	8.68	N/A	N/A	2,711	414	21,364	16,244
2010-03-31	$15.12	$15.00	27.7%	7.9%	31.6%	0.0%	27.7%	3.4%	7.6%	493.9K	-8.8M	-92.9K	0.26	11.83	N/A	N/A	1,016	262	22,705	16,311