FTC Options History — March 2015

In March 2015, FTC traded between $47.42 and $49.63. ATM implied volatility averaged 14.3%, placing in the 8.7% IV rank vs the trailing year. The 30-day expected move averaged 4.1%. IV traded above realized volatility by 1.5% (HV 20d: 12.9%). Max pain ranged from $47.00 to $47.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.00.

Notable Days

2015-03-02: Highest Volume — 10 contracts
2015-03-20: Largest IV drop — 28.3% change
2015-03-10: Highest IV Rank — 17.7%
2015-03-11: Largest Expected Move — 5.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$48.52	$47.42	$49.63	$48.81	$48.68
Max Pain	$47.00	$47.00	$47.00	$47.00	$47.00
ATM IV	14.3%	10.4%	19.1%	11.7%	13.5%
Expected Move	4.1%	3.0%	5.4%	3.4%	3.9%
HV 20d	12.9%	10.8%	15.7%	10.8%	15.7%
HV 60d	14.5%	13.8%	15.0%	14.4%	14.7%
IV Rank	8.7%	1.2%	17.7%	3.7%	7.1%
IV Percentile	45.2%	3.2%	81.3%	14.3%	37.3%
Term Structure	2.0%	0.6%	4.5%	1.4%	1.5%
VWIV	31.5%	18.2%	65.8%	20.0%	30.9%
Skew 25d	6.3%	3.0%	9.4%	3.3%	6.6%
Skew 10d	7.8%	0.7%	15.1%	3.7%	5.5%
Call IV 25d	11.5%	8.9%	14.3%	9.8%	10.9%
Put IV 25d	17.7%	13.1%	20.9%	13.1%	17.6%
Bid-Ask Spread %	111.31	88.95	156.16	156.16	108.35
Gamma HHI	0.45	0.36	0.56	0.38	0.55
Net GEX	1.4K	1.0K	1.8K	1.4K	1.1K
Net DEX	-24.6K	-29.6K	-21.1K	-26.6K	-22.6K
Net VEX	-73	-80	-65	-78	-67
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	3.5	0	10	10	9
Total OI	7.682	7	8	8	7

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Call OI
2015-03-02	$48.81	$47.00	11.7%	3.4%	10.8%	3.7%	20.0%	3.3%	1.4%	1.4K	-26.6K	-78	156.16	N/A	N/A	10	8
2015-03-03	$48.45	$47.00	13.1%	3.7%	11.4%	6.3%	18.2%	4.0%	2.6%	1.5K	-25.3K	-80	143.03	N/A	N/A	10	8
2015-03-04	$48.27	$47.00	13.8%	4.0%	11.1%	7.7%	18.4%	6.8%	2.5%	1.5K	-24.7K	-80	145.85	N/A	N/A	10	8
2015-03-05	$48.53	$0.00	11.3%	3.8%	11.1%	3.0%	42.3%	9.4%	2.5%	1.5K	-25.8K	-77	114.26	N/A	N/A	10	8
2015-03-06	$47.71	$0.00	13.0%	4.3%	11.9%	6.1%	65.8%	7.6%	1.7%	1.6K	-23.5K	-80	117.77	N/A	N/A	10	8
2015-03-09	$47.99	$0.00	16.1%	4.4%	11.5%	12.0%	0.0%	7.2%	1.1%	1.8K	-23.9K	-79	119.53	N/A	N/A	0	8
2015-03-10	$47.44	$0.00	19.1%	5.2%	12.1%	17.7%	0.0%	7.3%	0.8%	1.6K	-22.1K	-79	122.59	N/A	N/A	0	8
2015-03-11	$47.42	$0.00	18.8%	5.4%	10.8%	17.0%	0.0%	6.5%	0.6%	1.7K	-21.9K	-78	117.80	N/A	N/A	0	8
2015-03-12	$48.15	$0.00	15.1%	4.3%	12.1%	10.2%	0.0%	7.2%	3.2%	1.8K	-24.8K	-76	92.77	N/A	N/A	0	8
2015-03-13	$47.98	$0.00	16.2%	4.6%	11.5%	12.1%	0.0%	7.2%	2.3%	1.7K	-23.9K	-76	88.95	N/A	N/A	0	8
2015-03-16	$48.73	$0.00	15.4%	4.4%	12.7%	10.7%	0.0%	6.5%	2.1%	1.3K	-26.8K	-72	93.92	N/A	N/A	0	8
2015-03-17	$48.62	$0.00	16.2%	4.6%	12.8%	12.2%	0.0%	5.5%	1.5%	1.4K	-26.1K	-74	89.83	N/A	N/A	0	8
2015-03-18	$49.13	$0.00	14.4%	4.1%	13.2%	8.8%	0.0%	7.3%	2.8%	1.1K	-28.5K	-68	103.00	N/A	N/A	0	8
2015-03-19	$49.28	$0.00	14.4%	4.1%	13.2%	8.9%	0.0%	3.8%	3.7%	1.1K	-28.6K	-68	101.80	N/A	N/A	0	8
2015-03-20	$49.63	$0.00	10.4%	3.0%	13.0%	1.2%	0.0%	3.0%	4.5%	1.0K	-29.6K	-68	108.07	N/A	N/A	0	8
2015-03-23	$49.45	$0.00	12.4%	3.6%	13.1%	5.1%	0.0%	5.6%	2.4%	1.0K	-24.5K	-66	108.86	N/A	N/A	0	7
2015-03-24	$49.19	$0.00	12.4%	3.6%	13.3%	5.0%	0.0%	6.6%	1.2%	1.1K	-24.0K	-67	107.05	N/A	N/A	0	7
2015-03-25	$48.20	$0.00	15.6%	4.5%	15.2%	11.1%	0.0%	6.6%	0.9%	1.1K	-21.7K	-70	102.86	N/A	N/A	0	7
2015-03-26	$48.11	$0.00	15.6%	4.5%	15.2%	11.0%	24.9%	6.9%	1.4%	1.2K	-21.1K	-70	97.98	N/A	N/A	9	7
2015-03-27	$48.53	$0.00	13.7%	3.9%	15.6%	7.5%	0.0%	5.7%	1.0%	1.1K	-21.9K	-69	103.56	N/A	N/A	0	7
2015-03-30	$49.04	$0.00	13.4%	3.8%	15.7%	6.8%	0.0%	7.0%	1.4%	1.1K	-23.6K	-65	104.81	N/A	N/A	9	7
2015-03-31	$48.68	$0.00	13.5%	3.9%	15.7%	7.1%	30.9%	6.6%	1.5%	1.1K	-22.6K	-67	108.35	N/A	N/A	9	7