HI Options History — March 2010

In March 2010, HI traded between $20.91 and $22.27. ATM implied volatility averaged 13.5%, placing in the 8.3% IV rank vs the trailing year. The 30-day expected move averaged 3.9%. IV traded below realized volatility by 9.6% (HV 20d: 23.1%). Max pain ranged from $17.50 to $20.00. Net GEX was positive for 11 of 11 trading days. Term structure was in contango for 10 of 11 days. Put/call ratio averaged 0.00.

Notable Days

2010-03-17: Highest Volume — 60 contracts
2010-03-11: Largest IV drop — 45.3% change
2010-03-02: Highest IV Rank — 22.9%
2010-03-02: Largest Expected Move — 5.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$21.89	$20.91	$22.27	$20.91	$21.99
Max Pain	$19.77	$17.50	$20.00	$17.50	$20.00
ATM IV	13.5%	9.4%	20.3%	20.3%	11.2%
Expected Move	3.9%	2.7%	5.8%	5.8%	3.2%
HV 20d	23.1%	22.6%	23.9%	22.7%	23.9%
HV 60d	22.8%	21.1%	27.4%	27.1%	21.1%
IV Rank	8.3%	0.0%	22.9%	22.9%	5.0%
IV Percentile	2.7%	0.0%	16.7%	16.7%	1.4%
Term Structure	6.9%	-7.5%	11.5%	-7.5%	8.1%
VWIV	18.7%	14.1%	25.8%	25.8%	20.0%
Bid-Ask Spread %	65.35	24.64	114.19	51.91	114.19
Gamma HHI	0.66	0.39	0.77	0.39	0.72
Net GEX	24.2K	18.7K	31.0K	19.8K	25.6K
Net DEX	-408.6K	-464.0K	-335.8K	-371.2K	-383.2K
Net VEX	-1.8K	-2.3K	-1.6K	-2.3K	-1.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.02	0.02	0.00
Total Volume	13.727	0	60	51	0
Total OI	752.909	722	860	860	722

Daily Data (11 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
2010-03-02	$20.91	$17.50	20.3%	5.8%	22.7%	22.9%	25.8%	0.0%	-7.5%	19.8K	-371.2K	-2.3K	0.02	51.91	N/A	N/A	50	1	543	317
2010-03-11	$21.42	$20.00	11.1%	3.2%	23.2%	0.0%	0.0%	0.0%	11.5%	21.1K	-448.9K	-2.2K	0.00	24.64	N/A	N/A	6	0	533	311
2010-03-15	$21.72	$20.00	15.5%	4.5%	23.0%	13.5%	0.0%	0.0%	5.8%	18.7K	-335.8K	-1.8K	0.00	66.08	N/A	N/A	0	0	419	309
2010-03-16	$22.08	$20.00	14.8%	4.2%	22.6%	11.1%	0.0%	0.0%	6.5%	22.9K	-397.4K	-1.7K	0.00	57.16	N/A	N/A	6	0	419	309
2010-03-17	$22.05	$20.00	15.7%	4.5%	23.0%	14.1%	14.1%	0.0%	6.7%	22.1K	-394.6K	-1.7K	0.00	56.38	N/A	N/A	60	0	422	309
2010-03-19	$22.09	$20.00	15.5%	4.5%	23.1%	13.4%	15.6%	0.0%	6.9%	23.3K	-426.3K	-1.7K	0.00	28.15	N/A	N/A	14	0	434	309
2010-03-22	$22.09	$20.00	13.8%	4.0%	23.1%	8.3%	17.8%	0.0%	7.0%	26.8K	-438.5K	-1.7K	0.00	43.75	N/A	N/A	0	1	445	291
2010-03-24	$22.27	$20.00	11.2%	3.2%	22.7%	0.2%	0.0%	0.0%	8.8%	31.0K	-464.0K	-1.7K	0.00	106.22	N/A	N/A	3	0	437	292
2010-03-25	$22.10	$20.00	9.4%	2.7%	23.5%	0.0%	0.0%	0.0%	10.5%	28.3K	-426.4K	-1.6K	0.00	112.10	N/A	N/A	0	0	437	292
2010-03-29	$22.06	$20.00	10.2%	2.9%	23.8%	2.2%	20.0%	0.0%	11.0%	27.2K	-408.7K	-1.6K	0.00	58.24	N/A	N/A	10	0	437	295
2010-03-31	$21.99	$20.00	11.2%	3.2%	23.9%	5.0%	0.0%	0.0%	8.1%	25.6K	-383.2K	-1.6K	0.00	114.19	N/A	N/A	0	0	427	295