HI Options History — November 2010

In November 2010, HI traded between $19.21 and $21.66. ATM implied volatility averaged 23.6%, placing in the 49.2% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 4.1% (HV 20d: 19.4%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 2.15.

Notable Days

2010-11-26: Highest Volume — 373 contracts
2010-11-29: Largest IV spike — 76.1% change
2010-11-22: Highest IV Rank — 79.6%
2010-11-22: Largest Expected Move — 9.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$20.34	$19.21	$21.66	$21.47	$19.31
Max Pain	$20.83	$20.00	$22.50	$22.50	$20.00
ATM IV	23.6%	13.0%	32.3%	19.7%	20.5%
Expected Move	7.0%	3.7%	9.3%	5.6%	5.9%
HV 20d	19.4%	11.9%	24.5%	13.5%	24.5%
HV 60d	21.6%	19.6%	22.8%	19.9%	20.6%
IV Rank	49.2%	12.6%	79.6%	35.8%	38.8%
IV Percentile	44.9%	2.8%	86.9%	23.4%	29.4%
Term Structure	-0.4%	-5.4%	8.1%	7.8%	-1.0%
VWIV	25.4%	16.5%	40.6%	23.4%	17.0%
Skew 25d	3.4%	-3.7%	6.6%	4.9%	5.4%
Skew 10d	4.3%	-5.0%	10.1%	3.3%	8.8%
Call IV 25d	21.8%	17.8%	25.8%	20.7%	21.2%
Put IV 25d	25.2%	20.8%	28.0%	25.5%	26.6%
Bid-Ask Spread %	78.75	48.25	94.41	94.15	82.10
Gamma HHI	0.67	0.33	0.81	0.70	0.34
Net GEX	11.6K	1.5K	17.8K	15.3K	7.5K
Net DEX	-62.7K	-216.8K	109.6K	-184.4K	19.2K
Net VEX	-1.0K	-1.6K	-693	-1.1K	-1.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.15	0.00	25.00	0.00	0.75
Total Volume	36.905	0	373	20	15
Total OI	462.857	324	887	324	887

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
2010-11-01	$21.47	$22.50	19.7%	5.6%	13.5%	35.8%	0.0%	4.9%	7.8%	15.3K	-184.4K	-1.1K	0.00	94.15	N/A	N/A	20	0	292	32
2010-11-02	$21.66	$22.50	19.7%	5.6%	11.9%	35.8%	0.0%	6.5%	8.1%	17.8K	-216.8K	-1.2K	0.00	94.41	N/A	N/A	0	1	312	32
2010-11-03	$21.59	$22.50	14.8%	4.2%	11.9%	18.7%	0.0%	6.6%	7.9%	17.6K	-211.4K	-1.2K	0.00	93.78	N/A	N/A	0	0	312	33
2010-11-04	$21.30	$22.50	18.0%	5.2%	12.5%	29.9%	0.0%	4.0%	3.5%	17.4K	-171.1K	-1.1K	0.00	94.26	N/A	N/A	0	10	312	33
2010-11-05	$21.42	$20.00	16.9%	7.1%	12.7%	26.2%	23.4%	4.9%	-2.9%	16.9K	-169.5K	-1.2K	0.00	70.19	N/A	N/A	5	0	312	43
2010-11-08	$21.37	$20.00	19.4%	6.4%	12.4%	34.9%	20.2%	4.4%	1.2%	17.3K	-163.6K	-1.1K	0.00	77.88	N/A	N/A	22	0	317	43
2010-11-09	$20.24	$20.00	26.3%	8.0%	22.0%	58.9%	17.7%	4.9%	-2.5%	13.2K	-72.5K	-862	0.05	81.53	N/A	N/A	40	2	332	43
2010-11-10	$20.05	$20.00	24.4%	8.3%	21.1%	52.2%	29.7%	3.2%	-3.1%	11.6K	-49.4K	-807	0.00	64.32	N/A	N/A	53	0	340	45
2010-11-11	$20.11	$20.00	27.3%	7.8%	21.2%	62.3%	31.6%	1.9%	-3.4%	11.3K	-38.7K	-754	0.36	68.69	N/A	N/A	59	21	328	45
2010-11-12	$20.00	$20.00	28.7%	8.2%	21.1%	67.0%	32.5%	0.0%	-3.4%	11.3K	-35.8K	-908	0.00	48.25	N/A	N/A	2	0	363	66
2010-11-15	$20.00	$20.00	29.9%	8.6%	21.1%	71.5%	0.0%	1.1%	-4.9%	11.5K	-35.7K	-902	0.00	68.42	N/A	N/A	3	0	365	66
2010-11-16	$20.02	$20.00	30.4%	8.7%	21.2%	73.2%	20.0%	0.9%	-5.4%	10.7K	-27.7K	-829	0.00	88.19	N/A	N/A	28	0	368	63
2010-11-17	$20.06	$20.00	29.8%	8.5%	20.8%	70.9%	0.0%	1.4%	-5.3%	12.5K	-42.6K	-918	0.00	69.95	N/A	N/A	6	0	396	63
2010-11-18	$20.36	$20.00	29.4%	8.4%	21.9%	69.5%	0.0%	-2.7%	-4.1%	14.8K	-73.9K	-998	2.50	71.69	N/A	N/A	4	10	397	63
2010-11-19	$20.31	$20.00	29.4%	8.4%	21.9%	69.5%	29.4%	-3.7%	-4.3%	14.8K	-75.2K	-989	25.00	73.23	N/A	N/A	2	50	401	62
2010-11-22	$20.15	$20.00	32.3%	9.3%	21.9%	79.6%	26.7%	4.5%	-5.3%	8.7K	-40.3K	-1.1K	1.57	88.17	N/A	N/A	7	11	393	103
2010-11-23	$19.73	$22.50	23.0%	6.6%	22.7%	47.2%	0.0%	6.0%	-0.5%	2.3K	59.4K	-807	0.80	75.16	N/A	N/A	10	8	394	114
2010-11-24	$19.21	$22.50	18.8%	5.4%	23.8%	32.8%	16.5%	4.1%	0.6%	1.5K	107.1K	-693	3.33	82.27	N/A	N/A	3	10	404	122
2010-11-26	$19.26	$22.50	13.0%	3.7%	23.6%	12.6%	40.6%	4.7%	7.7%	2.0K	109.6K	-748	0.75	92.13	N/A	N/A	213	160	406	131
2010-11-29	$19.50	$20.00	22.9%	6.6%	24.5%	47.1%	0.0%	5.5%	0.9%	7.3K	-3.6K	-1.6K	0.00	74.88	N/A	N/A	0	0	596	291
2010-11-30	$19.31	$20.00	20.5%	5.9%	24.5%	38.8%	17.0%	5.4%	-1.0%	7.5K	19.2K	-1.5K	0.00	82.10	N/A	N/A	0	15	596	291