HI Options History — January 2016

In January 2016, HI traded between $25.69 and $28.93. ATM implied volatility averaged 35.0%, placing in the 52.3% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded above realized volatility by 12.4% (HV 20d: 22.6%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 0 of 19 days. Put/call ratio averaged 1.63.

Notable Days

2016-01-08: Highest Volume — 223 contracts
2016-01-11: Largest IV spike — 32.6% change
2016-01-12: Highest IV Rank — 77.5%
2016-01-26: Largest Expected Move — 11.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$27.22	$25.69	$28.93	$28.93	$26.60
Max Pain	$27.63	$25.00	$30.00	$30.00	$25.00
ATM IV	35.0%	22.6%	43.5%	25.4%	38.4%
Expected Move	10.2%	8.4%	11.6%	8.5%	11.0%
HV 20d	22.6%	20.7%	24.9%	22.1%	24.3%
HV 60d	26.1%	24.3%	27.4%	26.3%	24.3%
IV Rank	52.3%	15.9%	77.5%	24.2%	62.5%
IV Percentile	78.5%	7.1%	99.2%	32.5%	94.0%
Term Structure	-3.7%	-6.1%	-1.7%	-2.4%	-4.3%
VWIV	35.1%	29.5%	40.3%	29.6%	38.8%
Skew 25d	2.4%	-5.0%	9.1%	0.4%	-1.0%
Skew 10d	-1.4%	-9.1%	8.0%	-1.4%	-4.8%
Call IV 25d	33.9%	27.5%	40.2%	32.8%	39.3%
Put IV 25d	36.2%	32.7%	39.5%	33.2%	38.3%
Bid-Ask Spread %	89.44	82.60	94.30	83.44	86.37
Gamma HHI	0.56	0.47	0.90	0.49	0.47
Net GEX	3.4K	-1.4K	14.9K	2.3K	-415
Net DEX	181.8K	31.8K	405.4K	109.3K	55.0K
Net VEX	-800	-1.2K	-538	-1.2K	-584
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.63	0.25	3.88	0.79	0.64
Total Volume	93	61	223	61	136
Total OI	502.789	284	777	598	284

Daily Data (19 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
2016-01-04	$28.93	$30.00	25.4%	8.5%	22.1%	24.2%	29.6%	0.4%	-2.4%	2.3K	109.3K	-1.2K	0.79	83.44	N/A	N/A	34	27	246	352
2016-01-05	$28.83	$30.00	22.6%	8.4%	22.1%	15.9%	29.5%	5.9%	-2.4%	2.1K	222.0K	-982	1.29	91.05	N/A	N/A	34	44	251	350
2016-01-06	$28.80	$30.00	26.7%	8.5%	21.8%	28.0%	29.8%	9.1%	-2.4%	1.1K	193.8K	-1.2K	1.29	90.88	N/A	N/A	34	44	251	372
2016-01-07	$28.51	$30.00	22.7%	8.7%	21.2%	16.4%	30.5%	8.1%	-1.7%	1.7K	328.4K	-895	1.29	90.75	N/A	N/A	34	44	251	372
2016-01-08	$28.28	$30.00	26.9%	9.1%	21.3%	28.7%	31.7%	2.2%	-6.1%	-835	339.3K	-899	0.25	92.28	N/A	N/A	179	44	251	372
2016-01-11	$28.03	$30.00	35.7%	9.1%	21.4%	54.4%	32.4%	5.8%	-4.3%	10.7K	266.0K	-1.2K	1.33	89.45	N/A	N/A	33	44	401	372
2016-01-12	$27.89	$30.00	43.5%	8.8%	20.9%	77.5%	31.3%	1.7%	-3.9%	13.5K	323.6K	-1.0K	1.33	91.36	N/A	N/A	33	44	405	372
2016-01-13	$27.40	$30.00	38.2%	10.9%	20.9%	61.7%	30.5%	5.4%	-3.0%	10.0K	375.7K	-823	1.33	87.77	N/A	N/A	33	44	405	372
2016-01-14	$27.65	$30.00	30.0%	8.6%	21.3%	37.7%	31.0%	6.8%	-2.7%	14.9K	341.8K	-937	1.33	87.31	N/A	N/A	33	44	405	372
2016-01-15	$26.59	$30.00	38.8%	11.1%	24.9%	63.7%	38.5%	1.6%	-4.7%	6.4K	405.4K	-655	1.94	91.91	N/A	N/A	33	64	405	372
2016-01-19	$26.66	$25.00	40.2%	11.5%	24.3%	67.7%	39.7%	5.1%	-3.4%	4.4K	31.8K	-672	3.88	90.64	N/A	N/A	17	66	220	72
2016-01-20	$26.30	$25.00	38.9%	11.2%	24.3%	63.9%	38.7%	1.0%	-3.7%	1.9K	53.5K	-671	3.88	89.77	N/A	N/A	17	66	221	83
2016-01-21	$25.90	$25.00	39.7%	11.4%	24.4%	66.3%	39.4%	-3.8%	-4.4%	529	68.0K	-608	2.00	90.11	N/A	N/A	33	66	221	83
2016-01-22	$26.29	$25.00	39.0%	11.2%	22.1%	64.0%	38.1%	1.5%	-3.8%	688	58.7K	-641	2.00	89.28	N/A	N/A	33	66	201	83
2016-01-25	$25.69	$25.00	38.7%	11.1%	20.7%	63.2%	38.7%	-5.0%	-4.0%	-1.4K	81.2K	-538	1.61	89.89	N/A	N/A	33	53	201	83
2016-01-26	$26.37	$25.00	40.4%	11.6%	23.7%	68.2%	40.3%	-0.7%	-4.4%	455	64.7K	-561	1.61	94.30	N/A	N/A	33	53	201	83
2016-01-27	$26.12	$25.00	39.5%	11.3%	23.7%	65.7%	39.5%	2.9%	-4.3%	-1.3K	67.9K	-578	1.61	90.12	N/A	N/A	33	53	201	83
2016-01-28	$26.31	$25.00	39.0%	11.2%	23.7%	64.2%	39.2%	-1.6%	-3.7%	-1.1K	67.9K	-571	1.61	82.60	N/A	N/A	33	53	201	83
2016-01-29	$26.60	$25.00	38.4%	11.0%	24.3%	62.5%	38.8%	-1.0%	-4.3%	-415	55.0K	-584	0.64	86.37	N/A	N/A	83	53	201	83