EWC Options History — August 2016

In August 2016, EWC traded between $24.92 and $26.04. ATM implied volatility averaged 12.6%, placing in the 15.8% IV rank vs the trailing year. The 30-day expected move averaged 3.6%. IV traded above realized volatility by 2.3% (HV 20d: 10.3%). Max pain ranged from $25.00 to $26.00. Net GEX was positive for 10 of 23 trading days. Term structure was in contango for 22 of 23 days. Put/call ratio averaged 6.49.

Notable Days

2016-08-15: Highest Volume — 60,970 contracts
2016-08-10: Largest IV drop — 22.1% change
2016-08-02: Highest IV Rank — 27.3%
2016-08-02: Largest Expected Move — 4.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.56	$24.92	$26.04	$24.95	$25.32
Max Pain	$25.13	$25.00	$26.00	$26.00	$25.00
ATM IV	12.6%	10.8%	16.1%	14.0%	12.2%
Expected Move	3.6%	3.1%	4.6%	4.0%	3.5%
HV 20d	10.3%	8.2%	12.2%	12.2%	8.8%
HV 60d	16.5%	15.5%	17.6%	17.6%	15.5%
IV Rank	15.8%	9.7%	27.3%	20.4%	14.4%
IV Percentile	2.8%	0.4%	12.7%	2.8%	4.0%
Term Structure	3.2%	-0.9%	5.7%	2.3%	5.7%
VWIV	13.0%	9.6%	16.1%	14.2%	13.9%
Skew 25d	4.2%	-1.9%	45.9%	5.1%	-0.3%
Skew 10d	7.4%	-2.4%	73.1%	8.1%	-0.7%
Call IV 25d	11.7%	9.8%	15.2%	12.3%	14.3%
Put IV 25d	15.9%	9.5%	60.2%	17.4%	14.0%
Bid-Ask Spread %	55.90	24.09	124.22	124.22	85.12
Gamma HHI	0.34	0.23	0.52	0.45	0.26
Net GEX	-381.8K	-1.8M	1.0M	668.1K	-1.8M
Net DEX	3.2M	-11.4M	17.2M	-855.0K	17.2M
Net VEX	-304.0K	-437.0K	-200.1K	-207.6K	-373.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	6.49	0.11	107.00	0.22	0.16
Total Volume	13,602.87	78	60,970	11,445	11,370
Total OI	88,188.261	39,511	130,012	39,581	130,002

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
2016-08-01	$24.95	$26.00	14.0%	4.0%	12.2%	20.4%	14.2%	5.1%	2.3%	668.1K	-855.0K	-207.6K	0.22	124.22	N/A	N/A	9,384	2,061	21,593	17,988
2016-08-02	$24.92	$26.00	16.1%	4.6%	11.8%	27.3%	16.1%	2.3%	-0.9%	644.3K	-1.7M	-211.5K	0.22	36.63	N/A	N/A	9,384	2,061	21,593	17,988
2016-08-03	$25.08	$26.00	14.8%	4.2%	11.9%	23.0%	14.7%	45.9%	1.7%	481.6K	3.4K	-203.9K	0.22	98.29	N/A	N/A	9,384	2,052	21,593	17,985
2016-08-04	$25.13	$25.00	15.2%	4.6%	11.2%	24.3%	15.6%	2.3%	1.7%	732.7K	-769.0K	-201.7K	0.22	57.43	N/A	N/A	9,385	2,076	21,593	17,985
2016-08-05	$25.10	$25.00	12.6%	3.8%	11.0%	15.8%	11.8%	2.8%	2.9%	608.9K	-65.9K	-200.1K	0.22	43.10	N/A	N/A	9,450	2,075	21,593	18,065
2016-08-08	$25.31	$25.00	13.6%	4.0%	11.4%	19.2%	11.7%	3.3%	3.2%	694.5K	-3.5M	-204.2K	0.22	41.37	N/A	N/A	9,450	2,089	21,572	18,057
2016-08-09	$25.49	$25.00	14.3%	4.0%	10.3%	21.3%	11.1%	3.8%	4.3%	849.8K	-5.6M	-202.6K	0.22	77.80	N/A	N/A	9,431	2,089	21,633	18,061
2016-08-10	$25.53	$25.00	11.1%	3.2%	10.1%	10.9%	11.5%	3.2%	3.8%	1.0M	-8.4M	-204.5K	0.22	29.30	N/A	N/A	9,290	2,089	21,633	18,062
2016-08-11	$25.81	$25.00	12.9%	3.7%	10.4%	16.9%	13.0%	3.9%	3.2%	997.4K	-10.2M	-201.7K	0.16	50.83	N/A	N/A	9,736	1,597	21,637	18,062
2016-08-12	$25.71	$25.00	12.4%	3.6%	10.4%	15.3%	12.6%	2.9%	3.8%	988.9K	-11.4M	-208.0K	4.45	34.70	N/A	N/A	9,340	41,597	21,444	18,067
2016-08-15	$25.87	$25.00	11.1%	3.2%	10.6%	10.9%	10.9%	3.7%	4.9%	-110.0K	-3.4M	-280.3K	5.53	41.30	N/A	N/A	9,340	51,630	21,449	58,067
2016-08-16	$25.90	$25.00	11.9%	3.4%	10.1%	13.6%	12.1%	4.0%	4.4%	-1.3M	11.5M	-437.0K	0.18	26.09	N/A	N/A	9,341	1,659	21,449	108,113
2016-08-17	$25.86	$25.00	12.2%	3.5%	10.1%	14.6%	12.2%	3.5%	3.9%	-1.3M	7.9M	-390.9K	107.00	95.88	N/A	N/A	1	107	21,436	108,230
2016-08-18	$26.04	$25.00	11.8%	3.4%	10.3%	13.1%	0.0%	0.6%	4.4%	-978.4K	5.9M	-397.9K	0.42	34.79	N/A	N/A	55	23	21,436	108,237
2016-08-19	$25.86	$25.00	10.9%	3.1%	10.7%	10.3%	12.1%	3.2%	5.5%	-942.3K	326.2K	-324.8K	0.18	89.09	N/A	N/A	9,387	1,656	21,502	108,256
2016-08-22	$25.82	$25.00	12.2%	3.5%	9.4%	14.4%	13.0%	2.5%	3.6%	-1.5M	9.3M	-380.9K	0.11	33.39	N/A	N/A	9,405	998	21,382	107,526
2016-08-23	$25.94	$25.00	11.1%	3.2%	9.3%	10.8%	15.2%	4.8%	3.0%	-1.2M	6.6M	-384.2K	0.11	28.08	N/A	N/A	9,333	998	21,398	107,526
2016-08-24	$25.73	$25.00	12.9%	3.7%	9.9%	16.9%	12.5%	-1.2%	1.1%	-1.4M	8.9M	-388.1K	28.80	53.23	N/A	N/A	5	144	21,382	107,514
2016-08-25	$25.69	$25.00	11.3%	3.2%	10.0%	11.4%	9.6%	-1.9%	4.1%	-1.5M	12.4M	-397.7K	0.11	28.32	N/A	N/A	9,329	1,015	21,398	107,670
2016-08-26	$25.61	$25.00	11.1%	3.2%	9.5%	10.9%	13.4%	-1.8%	2.7%	-1.2M	8.8M	-390.0K	0.11	122.36	N/A	N/A	9,331	1,017	21,397	107,672
2016-08-29	$25.63	$25.00	13.4%	3.8%	8.2%	18.5%	14.3%	0.8%	2.2%	-1.7M	16.2M	-414.0K	0.15	24.09	N/A	N/A	9,828	1,513	21,400	107,672
2016-08-30	$25.53	$25.00	10.8%	3.1%	8.4%	9.7%	15.2%	3.1%	2.5%	-1.5M	14.1M	-386.7K	0.16	30.37	N/A	N/A	9,828	1,533	21,840	108,172
2016-08-31	$25.32	$25.00	12.2%	3.5%	8.8%	14.4%	13.9%	-0.3%	5.7%	-1.8M	17.2M	-373.9K	0.16	85.12	N/A	N/A	9,837	1,533	21,840	108,162