HI Options History — January 2015

In January 2015, HI traded between $31.43 and $34.00. ATM implied volatility averaged 25.1%, placing in the 48.1% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 3.5% (HV 20d: 21.6%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 1.19.

Notable Days

2015-01-02: Highest Volume — 417 contracts
2015-01-12: Largest IV spike — 52.5% change
2015-01-13: Highest IV Rank — 72.5%
2015-01-30: Largest Expected Move — 8.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$32.56	$31.43	$34.00	$34.00	$31.43
Max Pain	$33.00	$30.00	$35.00	$35.00	$30.00
ATM IV	25.1%	18.9%	31.3%	20.9%	29.7%
Expected Move	7.6%	6.7%	8.5%	6.9%	8.5%
HV 20d	21.6%	19.7%	25.8%	24.5%	22.0%
HV 60d	25.1%	23.3%	26.3%	26.1%	23.9%
IV Rank	48.1%	23.5%	72.5%	31.3%	66.2%
IV Percentile	80.2%	34.9%	98.0%	59.5%	97.2%
Term Structure	1.4%	-3.8%	8.8%	2.7%	-1.0%
VWIV	25.1%	18.4%	28.5%	24.0%	28.5%
Skew 25d	4.7%	-9.0%	11.9%	4.2%	6.2%
Skew 10d	13.8%	-0.9%	37.7%	-0.9%	37.7%
Call IV 25d	23.6%	17.8%	28.9%	21.4%	24.1%
Put IV 25d	28.3%	17.7%	32.3%	25.6%	30.3%
Bid-Ask Spread %	96.75	90.18	103.83	93.64	99.51
Gamma HHI	0.66	0.52	0.84	0.84	0.52
Net GEX	23.7K	4.0K	59.0K	59.0K	4.0K
Net DEX	-28.3K	-409.5K	138.0K	-409.5K	138.0K
Net VEX	-1.9K	-2.9K	-1.2K	-2.9K	-1.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.19	0.00	5.00	0.49	1.07
Total Volume	124	0	417	417	126
Total OI	676	480	841	787	521

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
2015-01-02	$34.00	$35.00	20.9%	6.9%	24.5%	31.3%	24.0%	4.2%	2.7%	59.0K	-409.5K	-2.9K	0.49	93.64	N/A	N/A	280	137	501	286
2015-01-05	$33.67	$35.00	19.7%	7.5%	24.7%	26.6%	26.0%	4.2%	-0.4%	54.8K	-307.5K	-2.9K	5.00	94.29	N/A	N/A	7	35	513	306
2015-01-06	$32.99	$35.00	20.3%	7.7%	25.8%	29.2%	0.0%	3.3%	-1.8%	30.4K	-74.4K	-2.4K	0.00	90.52	N/A	N/A	0	10	520	293
2015-01-07	$33.15	$35.00	20.4%	7.2%	23.9%	29.4%	0.0%	4.9%	-0.5%	33.7K	-118.6K	-2.3K	0.00	91.24	N/A	N/A	0	0	520	283
2015-01-08	$33.65	$35.00	21.5%	7.4%	22.5%	33.7%	25.8%	7.9%	-0.4%	54.3K	-297.5K	-2.7K	1.07	90.18	N/A	N/A	114	122	520	283
2015-01-09	$33.37	$35.00	18.9%	7.5%	21.8%	23.5%	26.1%	2.3%	-0.4%	41.5K	-196.1K	-2.4K	1.07	95.21	N/A	N/A	114	122	525	283
2015-01-12	$33.06	$35.00	28.8%	7.5%	22.2%	62.7%	26.1%	1.9%	-1.7%	31.0K	-110.1K	-2.2K	1.08	96.15	N/A	N/A	113	122	525	283
2015-01-13	$33.00	$35.00	31.3%	7.7%	20.8%	72.5%	26.9%	-9.0%	-3.8%	32.2K	-157.6K	-2.4K	1.08	98.58	N/A	N/A	113	122	555	283
2015-01-14	$32.88	$35.00	25.6%	7.3%	19.7%	50.0%	25.4%	4.7%	-2.1%	25.6K	-98.5K	-2.1K	0.92	93.27	N/A	N/A	113	104	555	283
2015-01-15	$31.87	$35.00	27.7%	7.9%	22.7%	58.2%	23.4%	-0.2%	-0.9%	11.5K	82.7K	-1.5K	0.89	91.54	N/A	N/A	113	100	555	281
2015-01-16	$32.37	$35.00	24.1%	6.9%	19.9%	44.2%	0.0%	5.6%	5.2%	16.8K	76.1K	-1.6K	0.00	95.76	N/A	N/A	0	0	555	286
2015-01-20	$31.61	$35.00	27.7%	7.9%	20.9%	58.1%	27.9%	6.1%	0.2%	9.1K	124.7K	-1.2K	0.00	101.23	N/A	N/A	20	0	352	128
2015-01-21	$31.61	$30.00	28.6%	8.2%	20.9%	61.9%	0.0%	7.8%	-0.3%	9.0K	98.8K	-1.3K	0.00	98.50	N/A	N/A	0	10	357	128
2015-01-22	$31.72	$30.00	28.7%	8.2%	20.0%	62.5%	27.5%	-0.3%	-0.8%	8.2K	113.7K	-1.4K	1.48	96.15	N/A	N/A	44	65	357	138
2015-01-23	$32.08	$30.00	23.2%	6.7%	20.1%	40.6%	18.4%	9.2%	8.8%	8.9K	127.2K	-1.3K	1.48	102.82	N/A	N/A	44	65	357	146
2015-01-26	$32.34	$30.00	26.4%	7.6%	20.2%	53.4%	0.0%	9.8%	6.9%	11.7K	107.2K	-1.4K	0.00	100.75	N/A	N/A	0	0	357	146
2015-01-27	$32.27	$30.00	26.1%	7.5%	19.8%	52.1%	0.0%	10.1%	7.9%	11.7K	114.3K	-1.4K	0.00	100.06	N/A	N/A	15	0	357	146
2015-01-28	$31.92	$30.00	26.3%	7.5%	19.7%	52.8%	24.7%	4.0%	3.1%	7.3K	121.6K	-1.3K	1.10	103.83	N/A	N/A	59	65	372	146
2015-01-29	$32.28	$30.00	26.4%	7.6%	20.4%	53.1%	20.1%	11.9%	7.2%	13.2K	99.5K	-1.4K	1.07	101.81	N/A	N/A	61	65	372	146
2015-01-30	$31.43	$30.00	29.7%	8.5%	22.0%	66.2%	28.5%	6.2%	-1.0%	4.0K	138.0K	-1.3K	1.07	99.51	N/A	N/A	61	65	375	146