HI Options History — September 2013

In September 2013, HI traded between $24.97 and $27.86. ATM implied volatility averaged 18.4%, placing in the 36.4% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded below realized volatility by 0.2% (HV 20d: 18.6%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.37.

Notable Days

2013-09-11: Highest Volume — 44 contracts
2013-09-12: Largest IV drop — 58.3% change
2013-09-11: Highest IV Rank — 96.2%
2013-09-09: Largest Expected Move — 6.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.77	$24.97	$27.86	$24.97	$27.37
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	18.4%	12.7%	30.4%	20.5%	18.7%
Expected Move	5.0%	3.6%	6.0%	5.9%	5.4%
HV 20d	18.6%	14.9%	21.2%	18.6%	14.9%
HV 60d	16.1%	15.4%	17.1%	16.5%	15.5%
IV Rank	36.4%	8.1%	96.2%	47.2%	38.1%
IV Percentile	37.5%	2.4%	99.6%	53.2%	41.7%
Term Structure	0.2%	-5.1%	7.4%	-1.9%	-4.9%
VWIV	20.2%	13.2%	27.9%	20.3%	21.6%
Skew 25d	1.9%	-4.9%	37.5%	-4.9%	2.3%
Skew 10d	4.1%	-8.2%	57.5%	-8.2%	2.3%
Call IV 25d	17.2%	12.6%	25.3%	24.0%	16.7%
Put IV 25d	19.1%	12.9%	62.7%	19.1%	19.0%
Bid-Ask Spread %	33.63	7.74	99.52	21.98	10.68
Gamma HHI	0.67	0.49	0.97	0.80	0.49
Net GEX	8.9K	-855	22.6K	20.3K	4.8K
Net DEX	-283.0K	-604.3K	-196.7K	-252.9K	-239.2K
Net VEX	-830	-1.6K	-418	-1.6K	-645
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.00	3.00	0.00	0.43
Total Volume	8.65	0	44	1	0
Total OI	409.35	345	520	520	358

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
2013-09-03	$24.97	$25.00	20.5%	5.9%	18.6%	47.2%	0.0%	-4.9%	-1.9%	20.3K	-252.9K	-1.6K	0.00	21.98	N/A	N/A	1	0	301	219
2013-09-04	$25.18	$25.00	19.4%	5.6%	18.5%	41.7%	0.0%	37.5%	-1.4%	22.6K	-294.3K	-1.5K	0.00	55.24	N/A	N/A	11	0	301	219
2013-09-05	$25.21	$25.00	19.0%	5.4%	18.5%	39.6%	0.0%	-4.6%	-0.3%	22.5K	-291.5K	-1.5K	0.00	20.73	N/A	N/A	0	0	294	219
2013-09-06	$25.37	$25.00	19.3%	5.8%	18.5%	41.3%	20.3%	-2.8%	-1.0%	22.3K	-313.4K	-1.5K	0.33	96.42	N/A	N/A	3	1	294	219
2013-09-09	$25.84	$25.00	22.2%	6.0%	19.1%	55.6%	20.9%	-0.5%	1.0%	19.7K	-419.1K	-1.4K	0.00	51.50	N/A	N/A	11	0	294	219
2013-09-10	$26.50	$25.00	28.0%	5.8%	20.7%	84.6%	20.1%	2.0%	-0.5%	19.0K	-559.5K	-1.1K	1.00	99.52	N/A	N/A	7	7	298	219
2013-09-11	$26.90	$25.00	30.4%	5.9%	21.1%	96.2%	21.8%	3.6%	-1.6%	14.8K	-604.3K	-989	3.00	21.69	N/A	N/A	11	33	294	219
2013-09-12	$26.80	$25.00	12.7%	3.6%	21.2%	8.1%	13.2%	-1.5%	7.4%	-855	-196.7K	-556	0.00	28.84	N/A	N/A	20	0	106	246
2013-09-13	$27.15	$25.00	13.0%	3.7%	20.6%	9.8%	0.0%	0.6%	6.9%	1.3K	-209.0K	-511	0.00	9.49	N/A	N/A	0	0	106	246
2013-09-16	$27.06	$25.00	15.6%	4.5%	20.4%	22.5%	16.0%	0.1%	5.6%	425	-208.2K	-543	0.00	46.18	N/A	N/A	1	0	106	246
2013-09-17	$27.25	$25.00	16.0%	4.6%	18.8%	24.6%	27.9%	-1.0%	2.6%	970	-210.0K	-509	0.00	9.37	N/A	N/A	6	0	105	246
2013-09-18	$27.56	$25.00	13.8%	4.0%	18.9%	13.7%	0.0%	2.1%	4.9%	2.4K	-214.0K	-452	0.00	9.00	N/A	N/A	15	0	100	246
2013-09-19	$27.86	$25.00	12.9%	3.7%	18.1%	9.4%	0.0%	2.6%	4.4%	3.3K	-235.4K	-418	0.00	30.18	N/A	N/A	0	0	105	246
2013-09-20	$27.47	$25.00	18.1%	5.2%	18.3%	35.1%	0.0%	1.1%	-1.2%	2.1K	-227.6K	-444	0.00	12.03	N/A	N/A	24	0	105	246
2013-09-23	$27.44	$25.00	17.5%	5.0%	18.5%	32.2%	0.0%	0.4%	-4.4%	4.4K	-238.1K	-550	0.00	90.33	N/A	N/A	2	0	129	216
2013-09-24	$27.34	$25.00	18.6%	5.3%	18.7%	37.8%	21.6%	-1.1%	-5.1%	4.0K	-227.9K	-582	0.43	10.67	N/A	N/A	14	6	130	216
2013-09-25	$27.28	$25.00	15.2%	4.3%	16.2%	20.5%	0.0%	-0.2%	0.2%	4.6K	-237.8K	-655	0.00	7.74	N/A	N/A	0	0	136	222
2013-09-26	$27.51	$25.00	17.5%	5.0%	15.9%	32.2%	0.0%	3.6%	-3.4%	5.0K	-245.4K	-630	0.00	9.85	N/A	N/A	0	0	136	222
2013-09-27	$27.39	$25.00	18.7%	5.4%	15.9%	38.2%	0.0%	-1.1%	-4.2%	4.3K	-236.6K	-673	0.00	31.24	N/A	N/A	0	0	136	222
2013-09-30	$27.37	$25.00	18.7%	5.4%	14.9%	38.1%	0.0%	2.3%	-4.9%	4.8K	-239.2K	-645	0.00	10.68	N/A	N/A	0	0	136	222