HIVE Options History — May 2015

In May 2015, HIVE traded between $30.60 and $36.05. ATM implied volatility averaged 68.5%, placing in the 25.9% IV rank vs the trailing year. The 30-day expected move averaged 15.1%. IV traded above realized volatility by 8.3% (HV 20d: 60.2%). Max pain ranged from $25.00 to $37.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 0.20.

Notable Days

2015-05-07: Highest Volume — 139 contracts
2015-05-13: Largest IV drop — 63.7% change
2015-05-12: Highest IV Rank — 73.6%
2015-05-01: Largest Expected Move — 22.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$32.89	$30.60	$36.05	$30.70	$36.05
Max Pain	$27.50	$25.00	$37.50	$25.00	$25.00
ATM IV	68.5%	44.2%	128.1%	78.4%	57.4%
Expected Move	15.1%	12.3%	22.5%	22.5%	16.4%
HV 20d	60.2%	28.4%	68.7%	67.5%	28.4%
HV 60d	49.2%	47.8%	50.6%	50.0%	47.8%
IV Rank	25.9%	6.4%	73.6%	33.8%	16.9%
IV Percentile	54.3%	9.1%	98.8%	88.9%	38.1%
Term Structure	1.2%	-27.6%	20.4%	-27.6%	-8.3%
VWIV	55.2%	42.1%	77.9%	77.9%	60.5%
Skew 25d	2.4%	-2.5%	6.2%	3.8%	3.3%
Skew 10d	7.3%	1.2%	26.9%	4.9%	10.0%
Call IV 25d	57.3%	55.2%	59.7%	56.2%	55.6%
Put IV 25d	59.8%	56.5%	63.5%	60.0%	58.9%
Bid-Ask Spread %	104.30	76.32	112.81	98.05	111.67
Gamma HHI	0.52	0.49	0.63	0.50	0.61
Net GEX	6.4K	4.4K	8.4K	5.6K	8.0K
Net DEX	-574.3K	-798.7K	-396.8K	-404.0K	-607.3K
Net VEX	-1.1K	-1.3K	-886	-970	-1.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.20	0.00	0.82	0.28	0.82
Total Volume	68.45	0	139	56	115
Total OI	308.25	270	375	273	315

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
2015-05-01	$30.70	$25.00	78.4%	22.5%	67.5%	33.8%	77.9%	0.0%	-27.6%	5.6K	-404.0K	-970	0.28	98.05	N/A	N/A	44	12	230	43
2015-05-04	$30.70	$37.50	84.3%	15.2%	67.6%	38.5%	0.0%	0.0%	-10.9%	5.0K	-422.1K	-1.1K	0.00	112.81	N/A	N/A	0	0	230	43
2015-05-05	$31.00	$37.50	84.8%	14.4%	67.6%	38.9%	47.5%	0.0%	-6.4%	4.9K	-427.6K	-1.1K	0.28	110.50	N/A	N/A	44	12	230	43
2015-05-06	$30.60	$37.50	89.5%	14.5%	68.2%	42.7%	49.8%	0.0%	4.3%	5.4K	-396.8K	-886	0.17	97.60	N/A	N/A	86	15	227	43
2015-05-07	$31.85	$37.50	75.5%	16.8%	68.7%	31.5%	47.6%	0.0%	-8.8%	4.4K	-577.7K	-1.1K	0.13	76.32	N/A	N/A	123	16	266	46
2015-05-08	$31.90	$25.00	89.5%	12.3%	68.5%	42.7%	42.1%	0.0%	12.8%	6.1K	-711.1K	-1.2K	0.00	110.89	N/A	N/A	9	0	321	46
2015-05-11	$32.05	$25.00	108.9%	13.3%	68.2%	58.2%	46.2%	0.0%	8.3%	6.4K	-722.3K	-1.2K	0.00	111.98	N/A	N/A	5	0	324	46
2015-05-12	$31.70	$25.00	128.1%	12.8%	68.1%	73.6%	55.5%	0.0%	5.3%	6.5K	-721.2K	-1.2K	0.14	110.76	N/A	N/A	115	16	329	46
2015-05-13	$32.20	$25.00	46.4%	13.3%	67.8%	8.2%	53.5%	0.0%	8.2%	6.6K	-737.7K	-1.2K	0.22	111.21	N/A	N/A	74	16	329	46
2015-05-14	$32.45	$25.00	44.2%	12.7%	67.8%	6.4%	59.2%	0.0%	11.3%	6.3K	-748.6K	-1.2K	0.22	111.06	N/A	N/A	75	16	327	46
2015-05-15	$34.00	$25.00	59.3%	17.0%	67.4%	18.5%	55.7%	0.0%	-2.1%	6.6K	-798.7K	-1.2K	0.18	89.37	N/A	N/A	75	14	326	46
2015-05-18	$33.65	$25.00	48.9%	14.0%	67.9%	10.1%	0.0%	3.8%	20.4%	6.6K	-500.6K	-1.2K	0.00	109.94	N/A	N/A	2	0	237	38
2015-05-19	$32.75	$25.00	51.6%	14.8%	68.3%	12.3%	0.0%	1.9%	5.9%	6.4K	-495.8K	-1.2K	0.00	104.81	N/A	N/A	0	0	238	38
2015-05-20	$32.90	$25.00	57.8%	16.6%	68.3%	17.2%	50.3%	1.9%	-9.7%	6.6K	-477.2K	-1.2K	0.13	106.71	N/A	N/A	71	9	238	38
2015-05-21	$33.80	$25.00	48.7%	14.0%	67.6%	10.0%	62.6%	4.7%	16.6%	6.7K	-512.5K	-1.2K	0.14	110.77	N/A	N/A	70	9	238	38
2015-05-22	$34.20	$25.00	50.7%	14.5%	67.6%	11.6%	54.6%	-2.5%	-3.2%	7.1K	-520.8K	-1.2K	0.14	105.56	N/A	N/A	70	9	239	38
2015-05-26	$34.30	$25.00	53.4%	15.3%	30.8%	13.8%	58.3%	0.2%	15.9%	6.9K	-529.8K	-1.1K	0.14	111.28	N/A	N/A	70	9	239	38
2015-05-27	$35.40	$25.00	57.5%	16.5%	29.2%	17.0%	58.1%	2.3%	-4.7%	7.8K	-566.9K	-1.1K	0.13	85.75	N/A	N/A	74	9	239	38
2015-05-28	$35.60	$25.00	55.5%	15.9%	28.5%	15.4%	59.4%	6.2%	-3.7%	8.4K	-608.2K	-1.1K	0.47	98.96	N/A	N/A	58	27	245	38
2015-05-29	$36.05	$25.00	57.4%	16.4%	28.4%	16.9%	60.5%	3.3%	-8.3%	8.0K	-607.3K	-1.3K	0.82	111.67	N/A	N/A	63	52	259	56