EWC Options History — February 2014

In February 2014, EWC traded between $27.57 and $29.18. ATM implied volatility averaged 11.9%, placing in the 40.7% IV rank vs the trailing year. The 30-day expected move averaged 3.5%. IV traded above realized volatility by 0.1% (HV 20d: 11.9%). Max pain ranged from $28.00 to $29.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 17.93.

Notable Days

2014-02-27: Highest Volume — 4,132 contracts
2014-02-11: Largest IV drop — 40.7% change
2014-02-03: Highest IV Rank — 59.5%
2014-02-03: Largest Expected Move — 4.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.67	$27.57	$29.18	$27.57	$29.18
Max Pain	$28.53	$28.00	$29.00	$29.00	$29.00
ATM IV	11.9%	7.8%	14.8%	14.8%	11.6%
Expected Move	3.5%	2.9%	4.3%	4.3%	3.3%
HV 20d	11.9%	9.5%	13.2%	11.0%	9.5%
HV 60d	10.2%	9.7%	10.5%	9.9%	10.4%
IV Rank	40.7%	13.8%	59.5%	59.5%	38.2%
IV Percentile	32.4%	0.8%	76.6%	76.6%	22.6%
Term Structure	0.8%	-0.6%	2.1%	1.0%	0.8%
VWIV	11.9%	8.7%	14.5%	14.5%	11.6%
Skew 25d	4.3%	1.3%	6.4%	5.2%	6.4%
Skew 10d	6.5%	0.6%	17.3%	10.2%	8.9%
Call IV 25d	10.0%	7.1%	13.8%	13.8%	7.9%
Put IV 25d	14.3%	9.7%	19.0%	19.0%	14.3%
Bid-Ask Spread %	24.83	12.67	39.65	16.63	23.20
Gamma HHI	0.40	0.33	0.51	0.51	0.38
Net GEX	-1.0M	-1.5M	-755.9K	-1.2M	-1.3M
Net DEX	7.3M	3.4M	13.4M	13.4M	7.0M
Net VEX	-80.6K	-92.7K	-70.4K	-79.5K	-85.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	17.93	0.00	107.10	0.01	0.24
Total Volume	657.842	0	4,132	1,460	562
Total OI	18,466.789	14,752	23,044	14,752	21,476

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
2014-02-03	$27.57	$29.00	14.8%	4.3%	11.0%	59.5%	14.5%	5.2%	1.0%	-1.2M	13.4M	-79.5K	0.01	16.63	N/A	N/A	1,452	8	1,372	13,380
2014-02-04	$27.65	$28.00	13.6%	3.9%	11.0%	51.7%	0.0%	3.8%	1.3%	-933.2K	11.7M	-83.7K	0.00	19.11	N/A	N/A	0	0	2,740	13,380
2014-02-05	$27.76	$28.00	13.5%	3.9%	11.2%	50.5%	0.0%	4.9%	1.2%	-920.1K	11.2M	-81.8K	0.00	23.07	N/A	N/A	0	0	2,540	13,380
2014-02-06	$28.14	$28.00	14.0%	4.0%	12.4%	54.2%	14.0%	1.3%	-0.6%	-816.4K	9.5M	-80.9K	0.00	12.67	N/A	N/A	116	0	2,540	13,380
2014-02-07	$28.35	$28.00	13.9%	4.0%	12.7%	53.7%	13.9%	4.1%	0.3%	-855.3K	7.5M	-74.6K	0.31	39.65	N/A	N/A	52	16	2,619	13,380
2014-02-10	$28.35	$28.00	13.2%	3.9%	12.6%	48.8%	13.6%	4.1%	0.6%	-835.6K	7.2M	-72.5K	0.06	28.54	N/A	N/A	31	2	2,607	13,365
2014-02-11	$28.61	$28.00	7.8%	3.1%	13.1%	13.8%	11.2%	4.3%	2.1%	-810.7K	6.1M	-74.0K	2.40	32.15	N/A	N/A	43	103	2,603	13,367
2014-02-12	$28.73	$28.00	10.3%	3.2%	12.9%	30.1%	12.1%	4.3%	1.4%	-755.9K	5.6M	-70.4K	81.56	23.65	N/A	N/A	25	2,039	2,629	13,428
2014-02-13	$28.94	$28.00	12.2%	3.5%	13.1%	42.4%	11.6%	5.3%	0.6%	-913.7K	5.5M	-81.0K	0.08	23.59	N/A	N/A	12	1	2,636	15,456
2014-02-14	$29.06	$28.00	12.0%	3.4%	13.0%	41.0%	12.0%	2.5%	1.3%	-887.8K	4.9M	-76.6K	5.08	16.95	N/A	N/A	24	122	2,644	15,457
2014-02-18	$29.16	$29.00	12.6%	3.6%	13.0%	44.9%	12.8%	3.6%	0.2%	-886.9K	3.4M	-71.1K	0.01	30.96	N/A	N/A	228	3	2,664	15,579
2014-02-19	$28.94	$29.00	12.2%	3.5%	13.2%	42.4%	12.2%	4.1%	0.7%	-847.6K	5.1M	-78.0K	107.10	32.98	N/A	N/A	30	3,213	2,882	15,582
2014-02-20	$29.06	$29.00	11.6%	3.3%	13.1%	38.6%	0.0%	3.6%	1.0%	-1.3M	6.3M	-88.4K	0.00	28.19	N/A	N/A	0	0	2,824	20,220
2014-02-21	$28.99	$29.00	10.7%	3.1%	13.0%	32.7%	10.7%	5.5%	1.7%	-894.4K	7.2M	-92.7K	0.41	27.16	N/A	N/A	37	15	2,824	18,720
2014-02-24	$29.14	$29.00	11.3%	3.2%	11.5%	36.4%	10.1%	6.4%	0.3%	-1.4M	4.9M	-77.8K	27.00	23.48	N/A	N/A	4	108	2,515	18,675
2014-02-25	$29.11	$29.00	10.5%	3.0%	9.8%	31.1%	10.5%	2.3%	1.1%	-1.5M	5.8M	-82.9K	0.49	22.59	N/A	N/A	69	34	2,519	18,776
2014-02-26	$28.98	$29.00	10.9%	3.1%	10.1%	33.7%	8.7%	5.0%	0.3%	-1.4M	7.7M	-90.6K	5.00	23.78	N/A	N/A	3	15	2,561	18,790
2014-02-27	$29.02	$29.00	10.3%	2.9%	9.6%	29.9%	10.4%	4.6%	0.7%	-1.5M	7.9M	-89.6K	57.20	23.45	N/A	N/A	71	4,061	2,564	18,795
2014-02-28	$29.18	$29.00	11.6%	3.3%	9.5%	38.2%	11.6%	6.4%	0.8%	-1.3M	7.0M	-85.8K	0.24	23.20	N/A	N/A	453	109	2,621	18,855