FIZZ Options History — February 2008

In February 2008, FIZZ traded between $3.63 and $3.84. ATM implied volatility averaged 57.6%, placing in the 17.3% IV rank vs the trailing year. The 30-day expected move averaged 16.4%. IV traded above realized volatility by 11.8% (HV 20d: 45.7%). Max pain ranged from $3.75 to $3.75. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.00.

Notable Days

2008-02-04: Highest Volume — 82 contracts
2008-02-25: Largest IV spike — 22.7% change
2008-02-13: Highest IV Rank — 25.3%
2008-02-12: Largest Expected Move — 18.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.70	$3.63	$3.84	$3.65	$3.66
Max Pain	$3.75	$3.75	$3.75	$3.75	$3.75
ATM IV	57.6%	48.7%	67.4%	57.8%	54.4%
Expected Move	16.4%	14.0%	18.0%	16.6%	15.6%
HV 20d	45.7%	37.6%	62.3%	59.6%	37.6%
HV 60d	59.9%	58.0%	60.3%	58.0%	59.9%
IV Rank	17.3%	10.2%	25.3%	17.6%	14.8%
IV Percentile	53.7%	10.2%	90.6%	58.0%	37.0%
Term Structure	-1.2%	-9.0%	5.7%	1.3%	0.2%
VWIV	53.3%	48.8%	57.6%	57.6%	48.8%
Bid-Ask Spread %	72.30	39.85	123.05	123.05	48.69
Gamma HHI	0.55	0.50	0.66	0.59	0.53
Net GEX	-1.4K	-2.2K	-990	-2.0K	-990
Net DEX	132.8K	117.1K	150.2K	141.2K	136.3K
Net VEX	-1.0K	-1.1K	-890	-1.1K	-908
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.03	0.03	0.00
Total Volume	8.9	0	82	0	0
Total OI	1,926.3	1,806	1,978	1,806	1,978

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
2008-02-01	$3.65	$3.75	57.8%	16.6%	59.6%	17.6%	0.0%	0.0%	1.3%	-2.0K	141.2K	-1.1K	0.00	123.05	N/A	N/A	0	0	626	1,180
2008-02-04	$3.84	$3.75	54.5%	16.8%	62.3%	14.8%	0.0%	0.0%	-5.8%	-2.2K	134.2K	-989	0.03	80.77	N/A	N/A	80	2	626	1,180
2008-02-05	$3.64	$3.75	55.1%	15.6%	61.6%	15.3%	0.0%	0.0%	3.9%	-1.8K	134.4K	-1.1K	0.00	72.03	N/A	N/A	0	0	706	1,180
2008-02-06	$3.63	$3.75	53.5%	16.5%	56.8%	14.1%	0.0%	0.0%	0.9%	-1.9K	139.5K	-1.0K	0.00	68.85	N/A	N/A	0	0	706	1,180
2008-02-07	$3.77	$3.75	56.2%	16.5%	52.6%	16.3%	57.6%	0.0%	-4.7%	-2.0K	130.7K	-1.0K	0.00	72.01	N/A	N/A	44	0	706	1,180
2008-02-08	$3.75	$3.75	59.1%	16.8%	49.3%	18.6%	0.0%	0.0%	-1.3%	-1.4K	117.1K	-1.1K	0.00	66.34	N/A	N/A	0	0	750	1,180
2008-02-11	$3.69	$3.75	65.7%	17.1%	45.3%	23.9%	0.0%	0.0%	-1.7%	-1.4K	125.6K	-1.1K	0.00	68.13	N/A	N/A	0	0	750	1,180
2008-02-12	$3.75	$3.75	65.9%	18.0%	43.2%	24.1%	0.0%	0.0%	-4.1%	-1.4K	122.1K	-1.1K	0.00	95.52	N/A	N/A	0	0	750	1,180
2008-02-13	$3.74	$3.75	67.4%	16.8%	42.7%	25.3%	0.0%	0.0%	0.9%	-1.3K	128.4K	-1.1K	0.00	91.69	N/A	N/A	0	0	750	1,180
2008-02-14	$3.67	$3.75	55.3%	15.9%	42.1%	15.5%	0.0%	0.0%	0.5%	-1.3K	118.1K	-1.0K	0.00	44.22	N/A	N/A	0	0	750	1,180
2008-02-15	$3.63	$3.75	53.3%	15.3%	40.8%	13.9%	53.3%	0.0%	2.3%	-1.3K	136.6K	-1.0K	0.00	89.31	N/A	N/A	6	0	750	1,180
2008-02-19	$3.73	$3.75	60.7%	17.4%	40.7%	19.8%	0.0%	0.0%	-1.6%	-1.4K	134.7K	-1.0K	0.00	39.85	N/A	N/A	6	0	752	1,180
2008-02-20	$3.77	$3.75	57.1%	16.4%	40.8%	17.0%	0.0%	0.0%	1.7%	-1.4K	127.7K	-1.0K	0.00	65.97	N/A	N/A	20	0	758	1,180
2008-02-21	$3.74	$3.75	56.9%	16.3%	41.0%	16.8%	0.0%	0.0%	-9.0%	-1.6K	121.8K	-979	0.00	70.52	N/A	N/A	0	0	778	1,180
2008-02-22	$3.66	$3.75	48.7%	14.0%	40.8%	10.2%	48.8%	0.0%	5.7%	-1.2K	131.3K	-996	0.00	75.63	N/A	N/A	20	0	778	1,180
2008-02-25	$3.71	$3.75	59.8%	17.1%	41.0%	19.1%	0.0%	0.0%	-4.0%	-1.1K	131.1K	-969	0.00	92.35	N/A	N/A	0	0	798	1,180
2008-02-26	$3.65	$3.75	54.2%	15.5%	40.7%	14.7%	0.0%	0.0%	-0.1%	-1.0K	146.8K	-932	0.00	76.76	N/A	N/A	0	0	798	1,180
2008-02-27	$3.67	$3.75	58.7%	16.8%	38.1%	18.3%	0.0%	0.0%	-5.2%	-1.2K	147.5K	-912	0.00	63.97	N/A	N/A	0	0	798	1,180
2008-02-28	$3.69	$3.75	56.7%	16.3%	37.7%	16.7%	0.0%	0.0%	-3.0%	-1.1K	150.2K	-890	0.00	40.38	N/A	N/A	0	0	798	1,180
2008-02-29	$3.66	$3.75	54.4%	15.6%	37.6%	14.8%	0.0%	0.0%	0.2%	-990	136.3K	-908	0.00	48.69	N/A	N/A	0	0	798	1,180