HTZ Options History — November 2008

In November 2008, HTZ traded between $6.73 and $32.10. ATM implied volatility averaged 153.2%, placing in the 71.9% IV rank vs the trailing year. The 30-day expected move averaged 43.1%. IV traded below realized volatility by 50.5% (HV 20d: 203.7%). Max pain ranged from $21.72 to $32.58. Net GEX was positive for 9 of 19 trading days. Term structure was in contango for 5 of 19 days. Put/call ratio averaged 6.76.

Notable Days

2008-11-06: Highest Volume — 171 contracts
2008-11-28: Largest IV spike — 116.0% change
2008-11-20: Highest IV Rank — 100.0%
2008-11-28: Largest Expected Move — 73.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.45	$6.73	$32.10	$32.10	$15.16
Max Pain	$24.01	$21.72	$32.58	$32.58	$21.72
ATM IV	153.2%	95.1%	254.8%	121.9%	254.8%
Expected Move	43.1%	27.3%	73.1%	34.9%	73.1%
HV 20d	203.7%	143.6%	305.3%	168.9%	296.7%
HV 60d	145.6%	115.1%	203.3%	115.1%	203.3%
IV Rank	71.9%	40.1%	100.0%	62.6%	100.0%
IV Percentile	95.0%	83.7%	100.0%	92.9%	100.0%
Term Structure	-8.2%	-87.7%	43.4%	-9.4%	-87.7%
VWIV	132.0%	85.5%	200.7%	85.5%	92.9%
Skew 25d	31.8%	-55.2%	103.3%	74.2%	-40.7%
Skew 10d	49.8%	-55.2%	107.8%	101.4%	-0.6%
Call IV 25d	123.3%	74.4%	241.8%	77.4%	241.8%
Put IV 25d	155.1%	90.4%	244.6%	151.5%	201.1%
Bid-Ask Spread %	40.10	16.46	92.38	51.76	25.81
Gamma HHI	0.37	0.27	0.48	0.44	0.37
Net GEX	709	-1.0K	4.8K	4.8K	-721
Net DEX	75.6K	-499.3K	281.6K	-499.3K	200.9K
Net VEX	-1.7K	-3.0K	-731	-3.0K	-1.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	6.76	0.00	38.00	0.73	0.26
Total Volume	43.684	1	171	5	11
Total OI	969.053	864	1,067	885	968

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
2008-11-03	$32.10	$32.58	121.9%	34.9%	168.9%	62.6%	85.5%	74.2%	-9.4%	4.8K	-499.3K	-3.0K	0.73	51.76	N/A	N/A	3	2	559	326
2008-11-04	$31.32	$32.58	113.4%	32.5%	163.2%	56.6%	113.4%	25.0%	2.7%	4.4K	-450.0K	-2.9K	0.17	64.72	N/A	N/A	9	1	558	326
2008-11-05	$28.93	$32.58	95.1%	27.3%	164.8%	43.7%	111.1%	12.8%	43.4%	3.8K	-337.0K	-2.9K	1.20	92.38	N/A	N/A	14	17	562	327
2008-11-06	$25.33	$32.58	149.8%	42.9%	143.6%	82.2%	145.2%	25.7%	-27.5%	2.5K	-109.7K	-2.4K	0.04	84.77	N/A	N/A	165	6	563	334
2008-11-07	$23.33	$21.72	127.8%	32.9%	147.0%	66.8%	116.3%	1.3%	-6.6%	911	57.4K	-2.0K	9.70	21.18	N/A	N/A	6	60	529	335
2008-11-10	$21.55	$21.72	131.7%	34.1%	148.3%	69.5%	91.1%	35.1%	2.7%	108	157.7K	-1.9K	23.80	30.24	N/A	N/A	5	109	525	391
2008-11-11	$20.68	$21.72	139.1%	34.4%	148.8%	74.7%	171.2%	71.7%	-5.0%	-453	213.7K	-2.0K	0.00	26.12	N/A	N/A	0	14	527	477
2008-11-12	$17.55	$21.72	136.6%	36.5%	154.9%	72.9%	126.8%	60.1%	-6.4%	-488	235.3K	-1.7K	0.00	25.44	N/A	N/A	0	14	527	477
2008-11-13	$21.89	$21.72	136.8%	39.2%	174.5%	73.1%	123.9%	56.9%	-8.4%	-695	154.8K	-2.1K	0.39	60.07	N/A	N/A	41	16	527	479
2008-11-14	$20.42	$21.72	126.8%	36.4%	176.1%	66.1%	0.0%	26.6%	-7.1%	99	165.2K	-2.1K	0.00	47.71	N/A	N/A	0	3	558	490
2008-11-17	$17.03	$21.72	131.9%	37.8%	186.6%	69.7%	0.0%	-15.0%	-0.1%	797	273.3K	-1.6K	0.00	49.81	N/A	N/A	1	0	558	490
2008-11-18	$16.51	$21.72	133.4%	38.2%	186.7%	70.7%	0.0%	39.2%	-8.0%	434	281.6K	-1.6K	0.07	24.41	N/A	N/A	33	2	559	479
2008-11-19	$11.42	$21.72	150.0%	43.0%	223.2%	82.4%	131.9%	28.3%	-0.7%	-381	266.9K	-1.1K	13.31	39.78	N/A	N/A	3	49	564	479
2008-11-20	$7.86	$21.72	245.0%	70.2%	254.4%	100.0%	145.7%	73.6%	-37.0%	-41	168.8K	-871	0.77	18.62	N/A	N/A	33	25	567	483
2008-11-21	$6.73	$21.72	191.0%	54.8%	257.5%	74.5%	192.6%	103.3%	33.9%	-7	137.2K	-731	0.00	16.46	N/A	N/A	0	14	582	485
2008-11-24	$9.25	$21.72	200.6%	57.5%	287.3%	79.1%	200.7%	31.4%	-4.7%	-254	143.9K	-975	38.00	36.31	N/A	N/A	2	87	543	410
2008-11-25	$9.73	$21.72	207.6%	59.5%	282.4%	82.4%	0.0%	50.1%	-40.2%	-275	156.6K	-906	0.00	19.09	N/A	N/A	0	2	546	378
2008-11-26	$13.77	$21.72	118.0%	33.8%	305.3%	40.1%	92.9%	-55.2%	9.7%	-1.0K	219.1K	-965	6.22	27.17	N/A	N/A	12	71	546	378
2008-11-28	$15.16	$21.72	254.8%	73.1%	296.7%	100.0%	0.0%	-40.7%	-87.7%	-721	200.9K	-1.1K	0.26	25.81	N/A	N/A	9	2	549	419