HI Options History — March 2013

In March 2013, HI traded between $24.16 and $25.28. ATM implied volatility averaged 15.7%, placing in the 13.9% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded below realized volatility by 0.2% (HV 20d: 15.9%). Max pain ranged from $17.50 to $22.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 3.15.

Notable Days

2013-03-15: Highest Volume — 104 contracts
2013-03-14: Largest IV spike — 25.1% change
2013-03-25: Highest IV Rank — 21.6%
2013-03-04: Largest Expected Move — 5.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.81	$24.16	$25.28	$24.18	$25.28
Max Pain	$21.00	$17.50	$22.50	$22.50	$22.50
ATM IV	15.7%	12.6%	18.3%	13.2%	16.5%
Expected Move	5.0%	3.8%	5.3%	3.8%	4.7%
HV 20d	15.9%	10.4%	18.4%	18.4%	10.4%
HV 60d	16.6%	15.1%	17.9%	17.9%	15.1%
IV Rank	13.9%	4.7%	21.6%	6.4%	16.3%
IV Percentile	8.5%	0.8%	15.9%	2.0%	10.7%
Term Structure	1.8%	-0.0%	5.5%	4.6%	3.0%
VWIV	24.9%	13.8%	87.9%	13.8%	18.3%
Skew 25d	6.7%	-2.6%	59.1%	0.1%	-2.6%
Skew 10d	10.5%	-3.6%	109.4%	-3.1%	-2.6%
Call IV 25d	18.9%	16.3%	20.4%	16.3%	20.4%
Put IV 25d	25.6%	16.4%	79.3%	16.5%	17.8%
Bid-Ask Spread %	14.67	7.53	25.74	8.99	13.24
Gamma HHI	0.65	0.47	0.90	0.48	0.86
Net GEX	37.8K	33.9K	42.2K	33.9K	38.6K
Net DEX	-1.0M	-1.1M	-926.4K	-1.0M	-1.1M
Net VEX	-2.4K	-2.6K	-2.2K	-2.6K	-2.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.15	0.00	42.00	0.33	0.00
Total Volume	18.65	0	104	4	9
Total OI	955.25	860	1,042	1,030	934

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
2013-03-01	$24.18	$22.50	13.2%	3.8%	18.4%	6.4%	13.8%	0.1%	4.6%	33.9K	-1.0M	-2.6K	0.33	8.99	N/A	N/A	3	1	708	322
2013-03-04	$24.16	$17.50	13.5%	5.3%	18.3%	7.4%	0.0%	6.0%	0.0%	34.1K	-992.7K	-2.5K	0.00	12.86	N/A	N/A	15	0	708	323
2013-03-05	$24.29	$17.50	12.6%	5.2%	18.4%	4.7%	0.0%	4.5%	1.3%	35.4K	-1.0M	-2.6K	0.00	14.34	N/A	N/A	0	2	719	323
2013-03-06	$24.36	$17.50	13.0%	5.3%	18.4%	5.9%	0.0%	5.4%	-0.0%	35.5K	-1.1M	-2.5K	0.50	11.88	N/A	N/A	10	5	719	323
2013-03-07	$24.39	$17.50	13.0%	5.1%	18.3%	5.9%	0.0%	5.4%	1.3%	36.1K	-1.1M	-2.4K	0.00	15.27	N/A	N/A	0	0	716	323
2013-03-08	$24.46	$17.50	13.5%	5.3%	18.3%	7.3%	87.9%	5.6%	0.2%	35.5K	-1.1M	-2.4K	0.00	13.73	N/A	N/A	22	0	716	323
2013-03-11	$24.58	$20.00	16.0%	5.1%	18.4%	14.8%	25.6%	3.8%	0.4%	37.4K	-1.1M	-2.3K	0.11	13.80	N/A	N/A	36	4	716	323
2013-03-12	$24.55	$20.00	17.5%	5.1%	17.5%	19.2%	0.0%	4.8%	1.0%	37.6K	-1.1M	-2.4K	0.20	14.08	N/A	N/A	10	2	716	321
2013-03-13	$24.86	$22.50	13.5%	5.1%	17.7%	7.4%	0.0%	-2.0%	1.0%	36.0K	-926.4K	-2.2K	0.00	23.09	N/A	N/A	15	0	578	323
2013-03-14	$24.98	$22.50	16.9%	4.9%	17.0%	17.5%	16.9%	-1.6%	1.7%	38.3K	-973.1K	-2.3K	0.00	23.90	N/A	N/A	6	0	592	323
2013-03-15	$25.15	$22.50	16.9%	4.9%	17.1%	17.6%	16.7%	-1.7%	2.1%	37.8K	-1.0M	-2.2K	0.13	7.53	N/A	N/A	92	12	596	323
2013-03-18	$24.98	$22.50	16.6%	4.8%	16.8%	16.7%	16.1%	-1.7%	3.0%	39.4K	-967.7K	-2.3K	0.00	25.74	N/A	N/A	42	0	585	279
2013-03-19	$24.96	$22.50	17.8%	5.1%	16.4%	20.1%	18.2%	-2.1%	2.5%	38.7K	-964.6K	-2.2K	0.11	25.64	N/A	N/A	19	2	581	279
2013-03-20	$25.09	$22.50	17.1%	4.9%	14.5%	18.1%	0.0%	-2.3%	1.5%	42.2K	-1.0M	-2.2K	0.00	9.97	N/A	N/A	0	0	597	281
2013-03-21	$25.07	$22.50	17.7%	5.1%	14.5%	20.0%	17.7%	-2.1%	1.4%	40.4K	-1.0M	-2.3K	0.67	13.20	N/A	N/A	12	8	597	281
2013-03-22	$25.18	$22.50	18.0%	5.2%	14.5%	20.7%	17.5%	-1.9%	1.5%	40.5K	-1.0M	-2.3K	0.00	8.91	N/A	N/A	0	3	607	289
2013-03-25	$25.23	$22.50	18.3%	5.2%	11.4%	21.6%	18.3%	-1.9%	1.6%	40.0K	-1.1M	-2.2K	42.00	10.46	N/A	N/A	1	42	607	286
2013-03-26	$25.18	$22.50	17.0%	4.9%	11.3%	17.7%	0.0%	59.1%	2.9%	37.1K	-1.0M	-2.4K	0.00	11.85	N/A	N/A	0	0	606	328
2013-03-27	$25.20	$22.50	15.3%	4.4%	10.8%	12.7%	0.0%	58.1%	5.5%	41.2K	-1.0M	-2.4K	0.00	15.01	N/A	N/A	0	0	606	328
2013-03-28	$25.28	$22.50	16.5%	4.7%	10.4%	16.3%	0.0%	-2.6%	3.0%	38.6K	-1.1M	-2.3K	0.00	13.24	N/A	N/A	9	0	606	328