HIVE Options History — January 2017

In January 2017, HIVE traded between $27.85 and $29.00. ATM implied volatility averaged 43.6%, placing in the 10.3% IV rank vs the trailing year. The 30-day expected move averaged 11.6%. IV traded above realized volatility by 20.2% (HV 20d: 23.4%). Max pain ranged from $25.00 to $37.50. Net GEX was positive for 9 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 1.10.

Notable Days

2017-01-30: Highest Volume — 60 contracts
2017-01-11: Largest IV drop — 33.2% change
2017-01-10: Highest IV Rank — 19.3%
2017-01-26: Largest Expected Move — 13.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$28.47	$27.85	$29.00	$28.75	$28.65
Max Pain	$36.25	$25.00	$37.50	$25.00	$37.50
ATM IV	43.6%	36.4%	55.0%	45.6%	43.1%
Expected Move	11.6%	10.0%	13.7%	13.1%	12.4%
HV 20d	23.4%	18.8%	30.7%	30.7%	18.9%
HV 60d	30.2%	29.7%	31.3%	31.3%	30.5%
IV Rank	10.3%	4.6%	19.3%	11.9%	9.9%
IV Percentile	16.5%	2.4%	45.6%	16.3%	15.1%
Term Structure	-2.2%	-21.3%	10.4%	-13.6%	-1.7%
VWIV	50.6%	35.1%	68.7%	43.8%	52.1%
Skew 25d	8.0%	-3.1%	14.1%	1.5%	6.5%
Skew 10d	21.5%	7.6%	42.5%	10.4%	19.5%
Call IV 25d	39.4%	29.6%	48.9%	48.9%	34.7%
Put IV 25d	47.4%	41.2%	51.8%	50.4%	41.2%
Bid-Ask Spread %	42.02	20.01	84.02	20.01	25.32
Gamma HHI	0.87	0.60	0.98	0.97	0.89
Net GEX	-4.4K	-13.5K	210	-9.7K	-2.2K
Net DEX	-14.9K	-44.9K	19.3K	-11.0K	19.3K
Net VEX	-164	-287	-89	-287	-235
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.10	0.43	5.69	0.48	5.69
Total Volume	33.35	17	60	34	60
Total OI	331	21	495	494	64

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
2017-01-03	$28.75	$25.00	45.6%	13.1%	30.7%	11.9%	43.8%	1.5%	-13.6%	-9.7K	-11.0K	-287	0.48	20.01	N/A	N/A	23	11	65	429
2017-01-04	$28.85	$25.00	46.2%	13.2%	30.1%	12.3%	44.7%	2.9%	-12.7%	-8.2K	-18.7K	-253	0.48	21.94	N/A	N/A	23	11	65	429
2017-01-05	$28.80	$37.50	51.7%	10.0%	29.3%	16.8%	35.1%	2.5%	10.4%	-10.4K	-6.7K	-278	0.48	55.14	N/A	N/A	23	11	65	429
2017-01-06	$28.80	$37.50	53.4%	10.1%	29.1%	18.0%	49.0%	-0.7%	4.5%	-10.0K	-8.6K	-268	0.48	54.68	N/A	N/A	23	11	65	429
2017-01-09	$28.55	$37.50	50.2%	11.4%	27.8%	15.5%	51.9%	2.0%	3.9%	-7.3K	-24.8K	-201	0.48	59.86	N/A	N/A	23	11	65	429
2017-01-10	$28.75	$37.50	55.0%	10.7%	22.5%	19.3%	54.9%	-3.1%	2.0%	-6.6K	-25.5K	-174	0.45	62.40	N/A	N/A	25	11	65	429
2017-01-11	$29.00	$37.50	36.8%	10.5%	22.5%	4.9%	58.2%	13.7%	8.5%	-8.8K	-13.5K	-212	0.45	56.69	N/A	N/A	25	11	65	429
2017-01-12	$28.20	$37.50	38.3%	11.0%	24.5%	6.1%	0.0%	3.5%	-3.2%	-13.5K	3.2K	-242	0.45	25.26	N/A	N/A	25	11	65	429
2017-01-13	$28.55	$37.50	37.7%	10.8%	24.9%	5.6%	45.1%	11.0%	5.5%	-4.9K	-32.7K	-139	0.45	56.98	N/A	N/A	25	11	65	429
2017-01-17	$28.30	$37.50	36.4%	10.4%	24.4%	4.6%	68.7%	12.4%	7.0%	-8.0K	-23.4K	-148	0.43	21.03	N/A	N/A	26	11	65	429
2017-01-18	$28.45	$37.50	38.7%	11.1%	24.0%	6.4%	57.6%	11.0%	3.6%	191	-43.5K	-93	0.43	58.92	N/A	N/A	26	11	66	429
2017-01-19	$28.55	$37.50	38.7%	11.1%	23.4%	6.4%	42.5%	10.7%	3.4%	210	-44.9K	-96	0.43	83.18	N/A	N/A	26	11	66	429
2017-01-20	$28.20	$37.50	46.1%	13.2%	19.7%	12.3%	54.6%	12.6%	-12.2%	190	-43.7K	-93	0.43	22.75	N/A	N/A	26	11	66	429
2017-01-23	$27.90	$37.50	39.9%	11.4%	19.7%	7.4%	0.0%	14.1%	-1.1%	173	-3.6K	-89	0.93	27.93	N/A	N/A	9	8	13	8
2017-01-24	$28.00	$37.50	40.1%	11.5%	19.7%	7.5%	0.0%	11.5%	-7.7%	136	-2.9K	-95	0.93	27.99	N/A	N/A	9	8	13	9
2017-01-25	$28.05	$37.50	40.8%	11.7%	19.6%	8.1%	0.0%	14.1%	-10.9%	126	-2.8K	-92	0.93	28.82	N/A	N/A	9	8	13	9
2017-01-26	$27.85	$37.50	48.0%	13.7%	19.1%	13.8%	52.1%	12.3%	-21.3%	125	-3.7K	-89	0.93	26.20	N/A	N/A	9	8	13	9
2017-01-27	$28.65	$37.50	41.9%	12.0%	18.8%	9.0%	0.0%	12.0%	-2.4%	176	-6.1K	-108	0.93	84.02	N/A	N/A	9	8	13	9
2017-01-30	$28.45	$37.50	43.5%	12.5%	18.9%	10.2%	0.0%	9.3%	-6.3%	134	-3.5K	-90	5.69	21.31	N/A	N/A	9	51	13	9
2017-01-31	$28.65	$37.50	43.1%	12.4%	18.9%	9.9%	0.0%	6.5%	-1.7%	-2.2K	19.3K	-235	5.69	25.32	N/A	N/A	9	51	13	51