EWC Options History — March 2017

In March 2017, EWC traded between $26.30 and $27.01. ATM implied volatility averaged 13.1%, placing in the 12.9% IV rank vs the trailing year. The 30-day expected move averaged 3.8%. IV traded above realized volatility by 1.1% (HV 20d: 12.0%). Max pain ranged from $22.00 to $27.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 23 of 23 days. Put/call ratio averaged 2.02.

Notable Days

2017-03-17: Highest Volume — 49,954 contracts
2017-03-14: Largest IV spike — 63.1% change
2017-03-14: Highest IV Rank — 28.8%
2017-03-22: Largest Expected Move — 4.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.70	$26.30	$27.01	$26.89	$26.95
Max Pain	$26.22	$22.00	$27.00	$26.00	$27.00
ATM IV	13.1%	11.1%	19.2%	13.8%	12.0%
Expected Move	3.8%	3.2%	4.5%	4.0%	3.5%
HV 20d	12.0%	10.1%	13.9%	10.8%	11.9%
HV 60d	12.2%	11.6%	12.4%	12.3%	11.7%
IV Rank	12.9%	7.4%	28.8%	14.6%	10.0%
IV Percentile	22.8%	3.2%	73.0%	27.8%	12.3%
Term Structure	2.1%	0.0%	4.1%	0.7%	2.8%
VWIV	11.9%	9.0%	17.4%	17.4%	11.5%
Skew 25d	4.4%	-1.3%	7.1%	3.9%	4.9%
Skew 10d	8.4%	-0.8%	32.7%	32.7%	6.2%
Call IV 25d	11.5%	9.3%	13.8%	13.0%	10.0%
Put IV 25d	16.0%	12.4%	18.4%	16.9%	14.9%
Bid-Ask Spread %	38.70	16.61	74.97	68.79	16.61
Gamma HHI	0.44	0.33	0.85	0.45	0.37
Net GEX	4.2M	1.6M	8.2M	2.8M	2.1M
Net DEX	-19.0M	-27.1M	-10.2M	-16.9M	-17.8M
Net VEX	-157.8K	-199.7K	-115.4K	-129.9K	-188.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.02	0.10	14.45	14.45	11.71
Total Volume	15,563.304	4,983	49,954	5,083	4,983
Total OI	38,031.565	36,158	54,500	36,519	37,116

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
2017-03-01	$26.89	$26.00	13.8%	4.0%	10.8%	14.6%	17.4%	3.9%	0.7%	2.8M	-16.9M	-129.9K	14.45	68.79	N/A	N/A	329	4,754	20,189	16,330
2017-03-02	$26.73	$26.00	13.5%	3.9%	10.9%	13.8%	12.8%	4.3%	0.1%	6.6M	-26.2M	-152.7K	0.26	19.09	N/A	N/A	18,351	4,759	38,252	16,248
2017-03-03	$26.85	$26.00	12.7%	3.6%	11.1%	11.7%	13.8%	-1.3%	0.0%	6.3M	-25.5M	-136.9K	0.25	24.29	N/A	N/A	18,735	4,764	20,705	16,243
2017-03-06	$26.88	$22.00	13.4%	4.1%	10.9%	13.5%	14.5%	5.6%	0.9%	6.1M	-27.0M	-136.8K	0.47	32.97	N/A	N/A	9,753	4,631	21,087	16,243
2017-03-07	$26.85	$22.00	14.0%	4.2%	10.5%	15.2%	14.1%	4.1%	1.2%	5.8M	-26.2M	-136.2K	0.48	23.55	N/A	N/A	9,753	4,663	21,106	16,288
2017-03-08	$26.53	$22.00	14.1%	3.7%	11.3%	15.5%	13.1%	3.4%	2.6%	5.1M	-21.6M	-136.5K	0.48	28.48	N/A	N/A	9,759	4,707	21,106	16,288
2017-03-09	$26.53	$27.00	12.0%	3.8%	11.1%	9.9%	12.8%	7.1%	2.2%	5.8M	-18.3M	-134.5K	0.48	43.16	N/A	N/A	9,753	4,729	21,109	16,315
2017-03-10	$26.53	$27.00	12.8%	3.7%	10.8%	12.0%	13.1%	4.2%	0.9%	5.9M	-18.1M	-128.1K	0.47	47.31	N/A	N/A	9,753	4,632	21,109	16,324
2017-03-13	$26.65	$27.00	11.8%	3.5%	10.1%	9.3%	9.9%	4.6%	2.4%	6.1M	-21.3M	-119.9K	0.51	25.30	N/A	N/A	9,405	4,777	21,109	16,324
2017-03-14	$26.30	$27.00	19.2%	4.5%	10.6%	28.8%	10.8%	4.3%	1.5%	5.2M	-12.1M	-125.6K	0.56	20.05	N/A	N/A	9,435	5,283	21,143	16,521
2017-03-15	$26.83	$27.00	12.0%	3.4%	13.2%	9.8%	10.3%	6.9%	2.5%	6.2M	-26.3M	-119.9K	0.53	74.97	N/A	N/A	9,435	4,996	21,141	17,002
2017-03-16	$26.86	$27.00	12.7%	3.6%	13.2%	11.8%	9.2%	5.9%	2.8%	8.1M	-26.9M	-120.3K	0.53	51.92	N/A	N/A	9,434	5,001	21,141	17,223
2017-03-17	$26.78	$27.00	12.9%	3.7%	13.1%	12.3%	9.0%	6.3%	2.5%	8.2M	-27.1M	-115.4K	0.10	48.45	N/A	N/A	45,393	4,561	21,130	17,235
2017-03-20	$26.62	$27.00	12.7%	3.6%	13.2%	11.8%	11.5%	5.4%	2.9%	1.8M	-15.5M	-195.3K	0.46	27.67	N/A	N/A	9,408	4,368	20,373	15,785
2017-03-21	$26.34	$27.00	14.5%	4.1%	13.5%	16.4%	10.6%	5.1%	2.9%	2.0M	-14.3M	-191.0K	0.57	51.23	N/A	N/A	9,408	5,406	20,416	15,792
2017-03-22	$26.45	$27.00	15.7%	4.5%	13.7%	19.5%	13.1%	3.9%	2.3%	1.6M	-10.2M	-199.5K	0.58	22.35	N/A	N/A	9,400	5,408	20,376	16,879
2017-03-23	$26.57	$27.00	12.3%	3.5%	13.9%	10.8%	11.5%	4.8%	2.4%	1.7M	-11.8M	-199.7K	0.57	61.83	N/A	N/A	9,429	5,410	20,382	16,907
2017-03-24	$26.54	$27.00	12.0%	3.5%	13.1%	10.0%	12.0%	3.1%	3.5%	1.8M	-13.4M	-196.7K	0.60	34.92	N/A	N/A	9,432	5,670	20,367	16,917
2017-03-27	$26.66	$27.00	12.3%	3.5%	13.2%	10.8%	11.8%	3.3%	2.1%	1.8M	-11.9M	-191.6K	0.60	24.47	N/A	N/A	9,428	5,612	20,377	16,841
2017-03-28	$26.85	$27.00	12.3%	3.5%	12.1%	10.6%	11.2%	3.2%	2.0%	2.0M	-14.7M	-194.4K	0.49	57.24	N/A	N/A	9,428	4,592	20,378	16,723
2017-03-29	$27.01	$27.00	12.7%	3.6%	12.1%	11.7%	9.9%	4.1%	2.1%	2.1M	-16.3M	-187.8K	0.49	53.34	N/A	N/A	9,428	4,584	20,378	16,715
2017-03-30	$26.88	$27.00	11.1%	3.2%	12.0%	7.4%	10.9%	5.0%	4.1%	2.3M	-17.5M	-192.0K	10.69	32.16	N/A	N/A	429	4,588	20,378	16,715
2017-03-31	$26.95	$27.00	12.0%	3.5%	11.9%	10.0%	11.5%	4.9%	2.8%	2.1M	-17.8M	-188.1K	11.71	16.61	N/A	N/A	392	4,591	20,389	16,727