FTC Options History — April 2016

In April 2016, FTC traded between $47.88 and $48.74. ATM implied volatility averaged 13.5%, placing in the 8.9% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded above realized volatility by 3.9% (HV 20d: 9.6%). Max pain ranged from $46.00 to $47.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.99.

Notable Days

2016-04-01: Highest Volume — 76 contracts
2016-04-05: Largest IV spike — 44.4% change
2016-04-12: Highest IV Rank — 24.1%
2016-04-07: Largest Expected Move — 4.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$48.29	$47.88	$48.74	$48.74	$47.88
Max Pain	$46.95	$46.00	$47.00	$46.00	$47.00
ATM IV	13.5%	9.7%	19.8%	9.7%	12.8%
Expected Move	3.7%	2.8%	4.4%	2.8%	3.7%
HV 20d	9.6%	8.8%	10.6%	8.8%	9.5%
HV 60d	15.6%	13.5%	17.7%	17.7%	13.5%
IV Rank	8.9%	0.0%	24.1%	0.0%	7.3%
IV Percentile	21.1%	0.0%	67.5%	0.0%	14.3%
Term Structure	9.5%	-2.2%	53.4%	0.6%	0.8%
VWIV	13.9%	11.1%	16.2%	13.7%	11.9%
Skew 25d	3.9%	-0.6%	7.8%	6.7%	1.2%
Skew 10d	4.5%	0.8%	15.7%	15.7%	1.8%
Call IV 25d	11.9%	9.7%	14.1%	12.7%	12.7%
Put IV 25d	15.9%	10.2%	19.6%	19.5%	13.9%
Bid-Ask Spread %	116.47	96.74	131.07	118.61	123.19
Gamma HHI	0.85	0.50	1.00	1.00	1.00
Net GEX	425	-1.2K	1.8K	581	323
Net DEX	-81.9K	-116.5K	-52.8K	-116.5K	-57.1K
Net VEX	-235	-314	-170	-243	-181
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.99	0.80	1.17	1.17	0.80
Total Volume	61.238	45	76	76	45
Total OI	62.286	45	78	78	45

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
2016-04-01	$48.74	$46.00	9.7%	2.8%	8.8%	0.0%	0.0%	6.7%	0.6%	581	-116.5K	-243	1.17	118.61	N/A	N/A	35	41	35	43
2016-04-04	$48.51	$47.00	11.1%	3.1%	9.1%	3.2%	13.7%	5.0%	40.6%	-1.2K	-101.9K	-302	1.17	96.74	N/A	N/A	35	41	35	43
2016-04-05	$48.11	$47.00	16.0%	4.3%	9.4%	15.0%	16.2%	7.8%	5.0%	-814	-83.1K	-314	1.17	113.53	N/A	N/A	35	41	35	43
2016-04-06	$48.58	$47.00	11.9%	3.8%	9.3%	5.3%	13.8%	3.1%	4.6%	1.1K	-96.8K	-275	1.17	104.43	N/A	N/A	35	41	35	43
2016-04-07	$48.02	$47.00	15.8%	4.4%	10.6%	14.6%	15.4%	6.7%	4.7%	-468	-85.3K	-306	1.17	109.69	N/A	N/A	35	41	35	43
2016-04-08	$48.11	$47.00	13.7%	4.2%	10.6%	9.5%	15.5%	4.1%	39.2%	18	-89.4K	-290	1.17	111.59	N/A	N/A	35	41	35	43
2016-04-11	$47.94	$47.00	19.1%	4.2%	9.3%	22.3%	13.4%	4.9%	24.5%	-1.1K	-90.4K	-279	1.17	109.34	N/A	N/A	35	41	35	43
2016-04-12	$48.14	$47.00	19.8%	4.1%	9.4%	24.1%	13.3%	4.2%	10.8%	591	-96.8K	-255	1.17	112.88	N/A	N/A	35	41	35	43
2016-04-13	$48.41	$47.00	11.5%	3.3%	9.4%	4.3%	14.2%	5.4%	53.4%	37	-97.8K	-257	1.17	103.55	N/A	N/A	35	41	35	43
2016-04-14	$48.33	$47.00	12.4%	3.6%	9.3%	6.3%	12.8%	2.5%	4.1%	529	-109.9K	-232	1.17	109.86	N/A	N/A	35	41	35	43
2016-04-15	$48.42	$47.00	12.8%	3.7%	9.3%	7.2%	15.3%	6.0%	10.8%	650	-113.1K	-225	1.17	125.05	N/A	N/A	35	41	35	43
2016-04-18	$48.73	$47.00	12.3%	3.5%	9.4%	6.1%	15.1%	5.4%	-0.7%	1.8K	-82.4K	-170	0.80	115.06	N/A	N/A	25	20	25	20
2016-04-19	$48.59	$47.00	12.7%	3.6%	9.5%	7.0%	15.7%	5.8%	-1.6%	1.3K	-68.9K	-201	0.80	109.45	N/A	N/A	25	20	25	20
2016-04-20	$48.50	$47.00	12.8%	3.7%	9.5%	7.3%	11.1%	-0.3%	3.0%	1.5K	-60.7K	-221	0.80	119.41	N/A	N/A	25	20	25	20
2016-04-21	$48.05	$47.00	13.8%	4.0%	10.0%	9.7%	12.0%	-0.6%	0.5%	1.2K	-59.0K	-218	0.80	121.58	N/A	N/A	25	20	25	20
2016-04-22	$48.06	$47.00	11.8%	3.4%	9.9%	5.0%	14.2%	5.2%	0.8%	702	-59.7K	-209	0.80	128.10	N/A	N/A	25	20	25	20
2016-04-25	$48.08	$47.00	13.4%	3.8%	9.8%	8.8%	15.6%	6.0%	-0.1%	467	-58.1K	-206	0.80	128.54	N/A	N/A	25	20	25	20
2016-04-26	$48.28	$47.00	12.5%	3.6%	9.3%	6.7%	13.1%	1.7%	1.2%	686	-69.0K	-180	0.80	131.07	N/A	N/A	25	20	25	20
2016-04-27	$48.53	$47.00	11.6%	3.3%	9.3%	4.6%	12.9%	1.4%	-1.3%	329	-70.3K	-178	0.80	127.52	N/A	N/A	25	20	25	20
2016-04-28	$48.00	$47.00	15.4%	4.4%	10.1%	13.5%	12.6%	0.1%	-2.2%	777	-52.8K	-198	0.80	126.72	N/A	N/A	25	20	25	20
2016-04-29	$47.88	$47.00	12.8%	3.7%	9.5%	7.3%	11.9%	1.2%	0.8%	323	-57.1K	-181	0.80	123.19	N/A	N/A	25	20	25	20