FDS Options History — February 2008

In February 2008, FDS traded between $51.15 and $56.06. ATM implied volatility averaged 38.9%, placing in the 64.6% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded above realized volatility by 10.1% (HV 20d: 28.8%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 2 of 20 trading days. Term structure was in contango for 1 of 20 days. Put/call ratio averaged 6.95.

Notable Days

2008-02-11: Highest Volume — 1,685 contracts
2008-02-06: Largest IV spike — 17.4% change
2008-02-11: Highest IV Rank — 88.4%
2008-02-11: Largest Expected Move — 12.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$52.77	$51.15	$56.06	$55.85	$52.64
Max Pain	$55.75	$55.00	$60.00	$55.00	$55.00
ATM IV	38.9%	33.0%	47.4%	34.5%	33.5%
Expected Move	11.1%	9.5%	12.3%	9.9%	9.6%
HV 20d	28.8%	24.6%	31.4%	27.9%	26.1%
HV 60d	31.7%	29.9%	33.3%	32.0%	30.0%
IV Rank	64.6%	47.9%	88.4%	52.2%	49.2%
IV Percentile	79.4%	53.6%	99.6%	65.1%	54.8%
Term Structure	-1.1%	-3.3%	4.0%	4.0%	-0.4%
VWIV	38.7%	33.4%	46.2%	34.5%	33.8%
Skew 25d	6.1%	4.3%	8.1%	5.6%	4.4%
Skew 10d	11.4%	2.2%	19.2%	11.3%	5.6%
Call IV 25d	35.4%	31.5%	38.5%	31.5%	33.7%
Put IV 25d	41.5%	36.6%	45.6%	37.0%	38.0%
Bid-Ask Spread %	15.96	8.88	24.19	24.19	16.91
Gamma HHI	0.39	0.29	0.61	0.30	0.32
Net GEX	-194.2K	-326.0K	108.7K	108.7K	-282.2K
Net DEX	5.6M	-576.7K	8.5M	-576.7K	5.5M
Net VEX	-47.9K	-59.7K	-32.3K	-33.0K	-58.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	6.95	0.00	92.10	5.15	1.05
Total Volume	434.8	20	1,685	461	82
Total OI	7,710.2	5,791	9,490	5,791	8,096

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 Vol	Put Vol	Call OI	Put OI
2008-02-01	$55.85	$55.00	34.5%	9.9%	27.9%	52.2%	34.5%	5.6%	4.0%	108.7K	-576.7K	-33.0K	5.15	24.19	75	386	3,101	2,690
2008-02-04	$56.06	$60.00	36.2%	11.0%	24.7%	56.9%	36.6%	6.6%	-0.2%	100.2K	-223.1K	-34.7K	1.00	19.60	233	232	3,126	3,018
2008-02-05	$54.04	$60.00	37.8%	11.2%	27.8%	61.4%	39.0%	6.3%	-0.4%	-16.6K	3.0M	-35.1K	1.28	14.25	137	175	3,253	3,180
2008-02-06	$51.92	$60.00	44.4%	12.2%	31.4%	79.8%	40.5%	7.6%	-1.5%	-137.4K	6.2M	-32.3K	2.73	16.38	153	418	3,344	3,256
2008-02-07	$51.74	$55.00	44.3%	12.1%	31.2%	79.6%	42.4%	7.6%	-1.1%	-162.5K	7.0M	-34.0K	2.10	20.55	214	450	3,454	3,514
2008-02-08	$52.06	$55.00	41.8%	12.2%	30.7%	72.6%	42.5%	6.8%	-2.2%	-177.1K	7.1M	-37.7K	1.74	16.92	131	228	3,557	3,886
2008-02-11	$51.60	$55.00	47.4%	12.3%	30.8%	88.4%	41.9%	7.1%	-3.3%	-228.0K	7.9M	-36.9K	3.21	11.01	400	1,285	3,688	4,075
2008-02-12	$51.60	$55.00	44.6%	11.9%	30.8%	80.5%	41.6%	6.9%	-2.1%	-313.8K	8.5M	-50.3K	1.30	11.29	129	168	4,032	5,278
2008-02-13	$51.82	$55.00	40.8%	11.8%	30.7%	69.8%	39.6%	8.1%	-2.4%	-326.0K	8.3M	-51.2K	0.49	10.31	122	60	4,101	5,335
2008-02-14	$51.83	$55.00	40.8%	11.7%	30.6%	69.8%	46.2%	7.0%	-2.3%	-216.3K	7.5M	-50.3K	0.00	14.01	20	0	4,195	5,295
2008-02-15	$52.10	$55.00	40.9%	11.7%	30.0%	70.1%	38.0%	6.9%	-2.2%	-180.0K	7.0M	-50.1K	92.10	16.72	10	921	4,205	5,260
2008-02-19	$51.15	$55.00	40.1%	11.5%	30.7%	67.8%	38.2%	5.9%	-1.5%	-238.1K	7.3M	-49.8K	0.47	15.52	380	177	2,378	4,381
2008-02-20	$51.52	$55.00	39.4%	11.3%	30.8%	65.8%	40.1%	4.3%	-1.4%	-225.0K	6.7M	-54.1K	3.88	23.97	144	559	2,692	4,527
2008-02-21	$52.28	$55.00	38.8%	11.1%	30.0%	64.1%	37.4%	5.3%	-1.0%	-258.5K	6.4M	-59.7K	6.93	13.44	14	97	2,770	4,973
2008-02-22	$52.39	$55.00	39.4%	11.3%	25.9%	65.9%	38.7%	4.9%	-1.9%	-257.8K	6.4M	-59.2K	1.36	16.59	101	137	2,773	4,967
2008-02-25	$52.59	$55.00	33.4%	9.6%	24.6%	49.0%	37.5%	5.2%	-0.9%	-280.6K	6.1M	-57.0K	9.18	13.74	33	303	2,781	5,033
2008-02-26	$54.32	$55.00	33.6%	9.6%	27.7%	49.4%	36.0%	4.9%	-1.1%	-264.7K	4.0M	-58.5K	1.38	16.80	55	76	2,813	5,170
2008-02-27	$54.37	$55.00	33.0%	9.5%	27.7%	47.9%	37.1%	5.0%	-0.1%	-256.4K	3.5M	-57.6K	1.00	8.88	244	243	2,793	5,114
2008-02-28	$53.52	$55.00	34.0%	9.7%	26.8%	50.6%	33.4%	4.8%	-0.7%	-271.3K	4.5M	-58.4K	2.71	18.19	28	76	2,939	5,161
2008-02-29	$52.64	$55.00	33.5%	9.6%	26.1%	49.2%	33.8%	4.4%	-0.4%	-282.2K	5.5M	-58.3K	1.05	16.91	40	42	2,950	5,146