EWC Options History — January 2015

In January 2015, EWC traded between $26.43 and $28.67. ATM implied volatility averaged 21.3%, placing in the 84.3% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 3.0% (HV 20d: 18.4%). Max pain ranged from $28.00 to $29.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 21.93.

Notable Days

2015-01-30: Highest Volume — 7,601 contracts
2015-01-12: Largest IV spike — 42.6% change
2015-01-12: Highest IV Rank — 100.0%
2015-01-15: Largest Expected Move — 7.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$27.26	$26.43	$28.67	$28.67	$26.43
Max Pain	$28.55	$28.00	$29.00	$28.00	$28.00
ATM IV	21.3%	17.5%	25.0%	18.3%	23.9%
Expected Move	6.1%	5.5%	7.0%	5.6%	6.8%
HV 20d	18.4%	16.3%	21.7%	20.5%	18.1%
HV 60d	19.4%	18.5%	20.3%	19.8%	19.0%
IV Rank	84.3%	69.2%	100.0%	73.1%	94.5%
IV Percentile	95.6%	89.7%	100.0%	94.8%	98.8%
Term Structure	0.5%	-1.0%	2.3%	0.9%	-0.8%
VWIV	22.9%	18.7%	26.8%	24.1%	24.7%
Skew 25d	6.1%	3.6%	8.2%	7.6%	3.7%
Skew 10d	15.1%	7.2%	20.3%	18.7%	12.7%
Call IV 25d	19.4%	15.2%	22.1%	16.8%	22.1%
Put IV 25d	25.5%	22.1%	28.9%	24.4%	25.8%
Bid-Ask Spread %	80.13	33.86	103.93	80.39	78.72
Gamma HHI	0.28	0.22	0.40	0.40	0.25
Net GEX	-4.7M	-5.3M	-3.5M	-3.5M	-5.2M
Net DEX	72.9M	42.9M	89.2M	42.9M	86.2M
Net VEX	-359.8K	-381.2K	-321.3K	-352.5K	-321.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	21.93	0.16	348.50	2.57	0.81
Total Volume	3,142.45	182	7,601	4,374	7,601
Total OI	88,639.8	82,666	95,540	82,666	87,575

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
2015-01-02	$28.67	$28.00	18.3%	5.6%	20.5%	73.1%	24.1%	7.6%	0.9%	-3.5M	42.9M	-352.5K	2.57	80.39	N/A	N/A	1,226	3,148	12,589	70,077
2015-01-05	$27.92	$28.00	22.7%	6.4%	21.3%	96.1%	22.6%	6.7%	-0.7%	-3.9M	56.1M	-364.0K	5.36	84.59	N/A	N/A	196	1,050	12,596	70,234
2015-01-06	$27.51	$29.00	21.7%	6.3%	21.7%	91.2%	26.1%	7.2%	0.0%	-4.0M	63.3M	-363.2K	348.50	82.11	N/A	N/A	12	4,182	12,764	70,981
2015-01-07	$27.54	$29.00	21.7%	6.2%	19.8%	91.2%	22.9%	6.1%	0.1%	-4.4M	65.1M	-376.7K	45.25	87.87	N/A	N/A	8	362	12,765	74,913
2015-01-08	$27.91	$29.00	19.8%	5.8%	20.4%	81.1%	22.1%	6.6%	0.6%	-4.5M	59.9M	-367.3K	0.76	84.23	N/A	N/A	1,507	1,152	12,769	75,006
2015-01-09	$27.66	$29.00	17.5%	5.8%	17.9%	69.2%	21.9%	6.1%	0.6%	-4.6M	64.8M	-375.0K	3.46	88.40	N/A	N/A	1,557	5,381	12,747	75,073
2015-01-12	$27.20	$29.00	25.0%	6.5%	18.9%	100.0%	23.4%	5.0%	0.9%	-4.9M	78.3M	-373.9K	2.18	84.99	N/A	N/A	1,738	3,787	12,830	79,580
2015-01-13	$27.08	$29.00	24.0%	6.7%	18.1%	95.1%	25.8%	7.5%	-0.1%	-5.0M	82.0M	-381.2K	1.03	86.22	N/A	N/A	1,572	1,612	12,833	81,439
2015-01-14	$26.91	$29.00	23.2%	6.6%	18.0%	91.3%	26.8%	8.2%	0.2%	-5.3M	89.2M	-375.0K	0.68	87.16	N/A	N/A	1,699	1,150	12,871	81,706
2015-01-15	$26.77	$29.00	24.4%	7.0%	17.1%	96.9%	26.6%	6.7%	-1.0%	-4.8M	86.2M	-379.0K	1.77	85.32	N/A	N/A	1,690	2,998	13,055	81,981
2015-01-16	$27.26	$29.00	23.3%	6.7%	18.1%	91.8%	23.8%	7.2%	0.4%	-4.4M	79.7M	-378.0K	7.35	81.81	N/A	N/A	23	169	13,068	82,472
2015-01-20	$26.94	$29.00	22.3%	6.4%	17.6%	86.8%	26.7%	5.6%	0.7%	-4.7M	75.9M	-365.4K	1.56	83.35	N/A	N/A	71	111	11,067	76,143
2015-01-21	$27.02	$29.00	21.0%	6.0%	16.9%	80.8%	20.3%	7.3%	0.8%	-4.9M	76.1M	-357.4K	1.98	87.88	N/A	N/A	133	263	11,052	76,165
2015-01-22	$27.24	$28.00	20.1%	5.8%	17.3%	76.6%	19.1%	5.9%	2.3%	-4.8M	72.1M	-357.7K	0.60	88.60	N/A	N/A	1,345	813	11,153	76,155
2015-01-23	$27.26	$28.00	19.5%	5.6%	16.4%	73.7%	20.2%	4.8%	0.9%	-5.0M	70.6M	-355.2K	0.16	103.93	N/A	N/A	5,246	817	11,204	76,306
2015-01-26	$27.19	$28.00	19.2%	5.5%	16.3%	72.1%	18.7%	4.9%	1.2%	-4.8M	72.4M	-348.6K	6.14	33.86	N/A	N/A	36	221	14,016	76,338
2015-01-27	$27.39	$28.00	19.5%	5.6%	16.5%	73.3%	19.1%	6.9%	0.6%	-5.1M	70.3M	-340.4K	3.96	71.16	N/A	N/A	285	1,128	10,039	76,348
2015-01-28	$26.73	$28.00	20.5%	5.9%	18.2%	78.3%	19.3%	3.6%	0.2%	-5.2M	79.5M	-331.2K	2.36	82.30	N/A	N/A	1,437	3,395	10,287	76,645
2015-01-29	$26.55	$28.00	19.3%	5.5%	18.2%	72.3%	23.6%	4.4%	1.9%	-5.2M	86.9M	-332.0K	2.07	39.61	N/A	N/A	1,213	2,515	10,411	77,543
2015-01-30	$26.43	$28.00	23.9%	6.8%	18.1%	94.5%	24.7%	3.7%	-0.8%	-5.2M	86.2M	-321.3K	0.81	78.72	N/A	N/A	4,205	3,396	10,425	77,150