EWC Options History — September 2016

In September 2016, EWC traded between $24.77 and $26.15. ATM implied volatility averaged 17.6%, placing in the 29.5% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 1.5% (HV 20d: 16.1%). Max pain ranged from $25.00 to $26.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.37.

Notable Days

2016-09-30: Highest Volume — 21,966 contracts
2016-09-21: Largest IV spike — 145.1% change
2016-09-21: Highest IV Rank — 100.0%
2016-09-21: Largest Expected Move — 13.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.44	$24.77	$26.15	$25.49	$25.73
Max Pain	$25.43	$25.00	$26.00	$25.00	$25.00
ATM IV	17.6%	11.4%	46.2%	18.6%	14.4%
Expected Move	5.2%	3.3%	13.3%	5.3%	4.1%
HV 20d	16.1%	9.0%	21.1%	9.0%	20.8%
HV 60d	15.4%	14.1%	17.0%	15.6%	14.3%
IV Rank	29.5%	9.4%	100.0%	35.6%	17.2%
IV Percentile	29.4%	3.2%	100.0%	35.7%	13.9%
Term Structure	1.6%	-1.4%	3.9%	0.1%	1.8%
VWIV	19.2%	14.3%	25.6%	17.3%	16.4%
Skew 25d	4.7%	0.5%	8.0%	3.7%	5.1%
Skew 10d	8.5%	1.1%	28.9%	2.4%	5.5%
Call IV 25d	15.1%	11.5%	21.1%	14.4%	13.1%
Put IV 25d	19.8%	15.8%	24.7%	18.1%	18.2%
Bid-Ask Spread %	80.65	22.25	139.99	81.28	113.41
Gamma HHI	0.27	0.22	0.30	0.25	0.23
Net GEX	-1.8M	-2.7M	-640.1K	-2.0M	-2.5M
Net DEX	16.7M	-456.7K	34.0M	24.1M	13.9M
Net VEX	-355.7K	-408.5K	-287.8K	-405.7K	-333.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.16	1.22	0.16	1.21
Total Volume	13,438	11,367	21,966	11,367	21,966
Total OI	131,828.857	129,158	140,511	129,994	140,511

Daily Data (21 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
2016-09-01	$25.49	$25.00	18.6%	5.3%	9.0%	35.6%	17.3%	3.7%	0.1%	-2.0M	24.1M	-405.7K	0.16	81.28	N/A	N/A	9,830	1,537	21,832	108,162
2016-09-02	$25.86	$25.00	12.3%	3.5%	10.2%	15.0%	17.2%	5.4%	2.8%	-1.3M	13.0M	-385.6K	0.46	22.25	N/A	N/A	9,825	4,520	21,832	108,166
2016-09-06	$26.15	$26.00	12.3%	4.2%	10.5%	14.8%	14.6%	6.1%	2.8%	-916.2K	2.3M	-338.9K	0.46	95.90	N/A	N/A	9,824	4,520	21,827	111,173
2016-09-07	$26.04	$26.00	13.0%	4.5%	10.5%	17.0%	15.2%	3.9%	1.1%	-640.1K	-456.7K	-333.7K	0.46	66.91	N/A	N/A	9,824	4,529	21,835	111,173
2016-09-08	$26.02	$26.00	13.0%	4.3%	10.5%	17.0%	24.8%	4.1%	2.4%	-834.0K	1.2M	-339.8K	0.52	53.97	N/A	N/A	9,824	5,124	21,838	111,193
2016-09-09	$25.37	$26.00	15.2%	5.2%	13.4%	24.2%	15.9%	3.9%	0.6%	-1.9M	18.5M	-393.4K	0.22	48.61	N/A	N/A	9,852	2,192	21,838	111,793
2016-09-12	$25.48	$26.00	20.0%	5.5%	13.5%	40.3%	22.4%	7.1%	1.3%	-2.1M	22.5M	-379.8K	0.23	87.06	N/A	N/A	9,880	2,251	21,869	111,887
2016-09-13	$24.79	$26.00	18.4%	5.3%	16.3%	34.8%	23.4%	4.2%	1.5%	-2.7M	30.8M	-408.5K	0.23	65.70	N/A	N/A	9,886	2,300	21,900	111,781
2016-09-14	$24.77	$26.00	19.6%	5.6%	16.3%	38.8%	25.6%	6.8%	1.3%	-2.6M	34.0M	-408.5K	0.22	69.86	N/A	N/A	9,897	2,200	21,900	111,678
2016-09-15	$25.13	$26.00	19.0%	5.4%	17.3%	36.9%	25.2%	8.0%	2.2%	-2.5M	21.5M	-350.7K	0.23	96.56	N/A	N/A	9,900	2,269	21,910	111,745
2016-09-16	$24.95	$26.00	20.9%	6.0%	17.1%	43.3%	23.7%	0.5%	-1.4%	-2.4M	29.6M	-362.1K	0.25	122.17	N/A	N/A	10,269	2,599	21,838	111,772
2016-09-19	$25.03	$25.00	17.3%	5.0%	17.1%	31.4%	21.7%	5.2%	0.5%	-2.5M	28.3M	-395.6K	0.18	62.56	N/A	N/A	9,725	1,783	20,092	109,066
2016-09-20	$25.06	$25.00	18.9%	5.4%	17.2%	36.5%	18.0%	4.7%	0.4%	-2.3M	24.6M	-370.2K	0.18	57.20	N/A	N/A	9,738	1,705	20,098	109,066
2016-09-21	$25.55	$25.00	46.2%	13.3%	18.6%	100.0%	20.7%	4.8%	2.4%	-1.1M	7.5M	-287.8K	0.37	139.99	N/A	N/A	9,822	3,670	20,106	109,141
2016-09-22	$25.82	$25.00	13.5%	3.9%	18.8%	14.7%	18.1%	5.3%	2.9%	-1.0M	5.5M	-320.7K	0.38	104.95	N/A	N/A	9,640	3,670	20,188	109,631
2016-09-23	$25.41	$25.00	16.8%	4.8%	19.6%	23.3%	16.9%	2.3%	1.8%	-1.5M	11.1M	-333.6K	0.18	51.90	N/A	N/A	9,640	1,739	20,203	109,631
2016-09-26	$25.17	$25.00	17.2%	4.9%	19.9%	24.4%	17.6%	4.3%	2.2%	-2.0M	19.1M	-353.0K	0.18	129.29	N/A	N/A	9,637	1,749	20,203	109,685
2016-09-27	$25.15	$25.00	17.8%	5.1%	19.9%	26.1%	17.5%	3.8%	1.0%	-2.3M	23.3M	-348.1K	0.18	61.32	N/A	N/A	9,702	1,758	20,204	109,705
2016-09-28	$25.64	$25.00	11.4%	3.3%	21.1%	9.4%	14.3%	5.4%	3.9%	-1.2M	8.1M	-291.7K	0.18	46.98	N/A	N/A	9,695	1,745	20,230	109,715
2016-09-29	$25.64	$25.00	14.9%	4.3%	20.8%	18.3%	17.4%	3.6%	2.2%	-1.5M	11.3M	-329.0K	1.22	115.73	N/A	N/A	9,914	12,048	20,228	109,761
2016-09-30	$25.73	$25.00	14.4%	4.1%	20.8%	17.2%	16.4%	5.1%	1.8%	-2.5M	13.9M	-333.6K	1.21	113.41	N/A	N/A	9,918	12,048	20,450	120,061