EWC Options History — February 2013

In February 2013, EWC traded between $27.96 and $29.15. ATM implied volatility averaged 12.8%, placing in the 11.0% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 4.6% (HV 20d: 8.3%). Max pain ranged from $28.00 to $28.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 17 of 19 days. Put/call ratio averaged 3.96.

Notable Days

2013-02-21: Highest Volume — 1,919 contracts
2013-02-25: Largest IV spike — 27.9% change
2013-02-25: Highest IV Rank — 27.4%
2013-02-25: Largest Expected Move — 4.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.67	$27.96	$29.15	$29.08	$28.22
Max Pain	$28.00	$28.00	$28.00	$28.00	$28.00
ATM IV	12.8%	10.9%	16.1%	12.2%	13.5%
Expected Move	3.7%	3.1%	4.6%	3.9%	3.9%
HV 20d	8.3%	7.5%	9.8%	7.6%	9.8%
HV 60d	10.0%	9.1%	11.3%	11.3%	9.4%
IV Rank	11.0%	1.6%	27.4%	7.6%	14.2%
IV Percentile	9.8%	0.4%	36.1%	4.0%	15.5%
Term Structure	1.4%	-0.7%	3.1%	1.3%	0.2%
VWIV	12.6%	7.5%	17.6%	13.5%	10.3%
Skew 25d	2.5%	-4.1%	6.4%	4.6%	3.9%
Skew 10d	3.9%	-4.9%	9.4%	8.2%	2.2%
Call IV 25d	11.2%	7.8%	14.6%	11.4%	8.6%
Put IV 25d	13.7%	10.6%	16.3%	16.0%	12.5%
Bid-Ask Spread %	21.57	11.06	43.81	25.99	15.35
Gamma HHI	0.54	0.35	0.73	0.51	0.39
Net GEX	743.4K	499.4K	1.1M	568.2K	759.4K
Net DEX	-3.0M	-4.2M	-1.4M	-3.8M	-2.2M
Net VEX	-18.1K	-23.4K	-14.3K	-17.6K	-23.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.96	0.00	22.00	0.21	0.00
Total Volume	306.474	19	1,919	127	139
Total OI	5,791.158	4,972	7,563	4,972	7,563

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
2013-02-01	$29.08	$28.00	12.2%	3.9%	7.6%	7.6%	13.5%	4.6%	1.3%	568.2K	-3.8M	-17.6K	0.21	25.99	N/A	N/A	105	22	3,575	1,397
2013-02-04	$28.92	$28.00	12.9%	3.8%	7.7%	11.6%	7.5%	3.8%	2.1%	593.5K	-3.4M	-17.6K	1.20	34.41	N/A	N/A	30	36	3,654	1,411
2013-02-05	$29.07	$28.00	12.3%	3.8%	7.8%	8.5%	17.6%	5.1%	2.1%	630.1K	-3.9M	-18.2K	20.00	25.52	N/A	N/A	1	20	3,683	1,447
2013-02-06	$29.15	$28.00	13.3%	3.8%	7.9%	13.6%	13.0%	5.0%	1.7%	639.3K	-4.2M	-17.8K	0.04	20.63	N/A	N/A	115	5	3,683	1,430
2013-02-07	$28.98	$28.00	12.9%	3.7%	8.2%	11.2%	12.8%	4.0%	2.5%	689.8K	-3.8M	-17.7K	1.00	24.49	N/A	N/A	80	80	3,737	1,425
2013-02-08	$28.98	$28.00	12.7%	3.6%	7.5%	10.4%	0.0%	4.8%	1.7%	806.7K	-3.7M	-17.4K	6.00	43.81	N/A	N/A	3	18	3,757	1,427
2013-02-11	$28.88	$28.00	12.5%	3.6%	7.6%	9.3%	12.3%	3.9%	2.3%	863.9K	-3.3M	-16.7K	22.00	13.56	N/A	N/A	1	22	3,760	1,445
2013-02-12	$29.01	$28.00	13.1%	3.8%	7.8%	12.5%	13.3%	2.1%	1.6%	869.2K	-3.8M	-16.7K	0.17	29.88	N/A	N/A	331	56	3,760	1,466
2013-02-13	$28.97	$28.00	11.5%	3.3%	7.7%	4.2%	11.4%	0.3%	3.1%	1.1M	-4.0M	-17.0K	0.03	26.68	N/A	N/A	331	11	4,007	1,522
2013-02-14	$28.90	$28.00	11.6%	3.3%	7.6%	4.8%	11.5%	-0.1%	1.9%	1.1M	-3.0M	-15.8K	0.01	16.43	N/A	N/A	1,402	19	3,798	1,524
2013-02-15	$28.63	$28.00	10.9%	3.1%	8.1%	1.6%	11.9%	0.4%	2.9%	927.9K	-2.5M	-16.7K	1.38	19.07	N/A	N/A	8	11	4,495	1,529
2013-02-19	$28.74	$28.00	11.1%	3.2%	8.2%	2.2%	11.4%	3.1%	1.3%	703.4K	-3.2M	-15.8K	0.24	14.08	N/A	N/A	152	36	3,742	1,290
2013-02-20	$28.40	$28.00	13.0%	3.7%	8.6%	11.8%	11.3%	0.3%	0.5%	595.0K	-2.1M	-15.3K	16.40	19.99	N/A	N/A	5	82	3,796	1,321
2013-02-21	$28.22	$28.00	13.0%	3.7%	8.4%	11.6%	12.7%	-1.8%	0.4%	499.4K	-1.4M	-14.3K	0.01	16.81	N/A	N/A	1,902	17	3,797	1,385
2013-02-22	$28.29	$28.00	12.6%	3.6%	8.5%	9.7%	12.5%	6.4%	1.3%	745.7K	-2.4M	-21.2K	3.91	12.96	N/A	N/A	57	223	5,643	1,401
2013-02-25	$27.96	$28.00	16.1%	4.6%	9.2%	27.4%	16.1%	1.3%	-0.7%	605.2K	-1.8M	-22.2K	0.32	24.99	N/A	N/A	77	25	5,684	1,604
2013-02-26	$28.05	$28.00	14.0%	4.0%	9.4%	17.0%	13.4%	-4.1%	0.2%	596.0K	-1.4M	-20.2K	0.92	11.06	N/A	N/A	157	145	5,699	1,622
2013-02-27	$28.30	$28.00	14.6%	4.2%	9.8%	19.9%	14.6%	4.7%	-0.6%	784.8K	-2.4M	-23.4K	1.30	14.14	N/A	N/A	43	56	5,821	1,732
2013-02-28	$28.22	$28.00	13.5%	3.9%	9.8%	14.2%	10.3%	3.9%	0.2%	759.4K	-2.2M	-23.0K	0.00	15.35	N/A	N/A	139	0	5,815	1,748