HTZ Options History — March 2011

In March 2011, HTZ traded between $63.42 and $70.76. ATM implied volatility averaged 40.2%, placing in the 22.3% IV rank vs the trailing year. The 30-day expected move averaged 11.6%. IV traded above realized volatility by 8.9% (HV 20d: 31.3%). Max pain ranged from $54.30 to $69.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 18 of 23 days. Put/call ratio averaged 23.35.

Notable Days

2011-03-09: Highest Volume — 900 contracts
2011-03-30: Largest IV drop — 11.1% change
2011-03-10: Highest IV Rank — 29.4%
2011-03-10: Largest Expected Move — 12.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$66.47	$63.42	$70.76	$63.42	$67.90
Max Pain	$64.50	$54.30	$69.50	$54.30	$69.50
ATM IV	40.2%	34.1%	44.8%	39.2%	35.1%
Expected Move	11.6%	9.8%	12.8%	11.2%	10.1%
HV 20d	31.3%	26.7%	35.0%	35.0%	29.4%
HV 60d	29.7%	28.8%	31.9%	28.9%	31.8%
IV Rank	22.3%	12.6%	29.4%	20.6%	14.3%
IV Percentile	17.3%	2.0%	36.9%	11.1%	2.8%
Term Structure	1.7%	-2.0%	4.6%	0.8%	3.8%
VWIV	40.6%	34.7%	45.8%	41.9%	34.7%
Skew 25d	5.5%	1.5%	11.5%	1.5%	5.7%
Skew 10d	12.6%	-1.5%	27.4%	-1.5%	4.4%
Call IV 25d	38.1%	28.0%	42.8%	38.8%	28.0%
Put IV 25d	43.6%	33.7%	49.1%	40.3%	33.7%
Bid-Ask Spread %	23.97	11.57	41.50	14.08	14.47
Gamma HHI	0.27	0.19	0.37	0.27	0.19
Net GEX	382.9K	101.1K	533.2K	435.6K	141.2K
Net DEX	-19.1M	-24.7M	-13.0M	-17.6M	-16.0M
Net VEX	-111.6K	-125.2K	-104.6K	-105.8K	-125.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	23.35	0.01	442.33	4.69	0.98
Total Volume	306.435	22	900	111	481
Total OI	10,106.217	7,525	12,013	10,070	10,062

Daily Data (23 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
2011-03-01	$63.42	$54.30	39.2%	11.2%	35.0%	20.6%	41.9%	1.5%	0.8%	435.6K	-17.6M	-105.8K	4.69	14.08	N/A	N/A	20	91	7,126	2,944
2011-03-02	$64.21	$54.30	39.4%	11.3%	32.8%	20.9%	38.7%	3.3%	1.6%	473.4K	-18.7M	-106.9K	0.02	15.45	N/A	N/A	22	0	7,127	2,944
2011-03-03	$66.03	$54.30	39.0%	11.2%	34.3%	20.4%	40.2%	5.0%	2.5%	533.2K	-22.1M	-109.2K	1.14	11.57	N/A	N/A	51	59	7,121	2,944
2011-03-04	$65.12	$65.16	39.1%	11.9%	34.7%	20.6%	41.5%	3.9%	0.7%	515.9K	-20.3M	-106.2K	11.55	25.93	N/A	N/A	44	503	7,110	2,902
2011-03-07	$64.34	$65.16	42.4%	12.0%	34.8%	25.7%	40.2%	5.0%	1.2%	436.6K	-17.9M	-104.6K	0.98	22.94	N/A	N/A	237	233	7,149	3,262
2011-03-08	$65.81	$65.16	39.9%	11.8%	34.5%	21.8%	44.0%	4.1%	2.0%	410.0K	-20.2M	-106.5K	3.38	27.28	N/A	N/A	9	32	7,139	3,445
2011-03-09	$65.25	$65.16	41.5%	12.6%	32.0%	24.3%	45.8%	5.5%	-0.6%	400.5K	-19.2M	-105.7K	4.29	27.07	N/A	N/A	170	730	7,142	3,501
2011-03-10	$64.42	$65.16	44.8%	12.8%	31.9%	29.4%	45.7%	5.6%	-2.0%	308.7K	-16.2M	-108.2K	0.04	23.49	N/A	N/A	381	14	7,296	4,167
2011-03-11	$65.68	$65.16	43.6%	12.5%	32.4%	27.6%	0.0%	5.3%	0.0%	370.5K	-21.1M	-115.6K	7.68	25.93	N/A	N/A	14	109	7,673	4,180
2011-03-14	$65.07	$65.16	42.4%	12.1%	31.9%	25.7%	43.4%	8.5%	1.7%	388.1K	-19.6M	-110.3K	442.33	31.13	N/A	N/A	1	305	7,671	4,191
2011-03-15	$64.60	$65.16	43.8%	12.6%	31.6%	28.0%	42.9%	3.8%	-0.0%	384.0K	-18.6M	-109.0K	0.30	22.56	N/A	N/A	181	54	7,671	4,206
2011-03-16	$64.47	$65.16	44.5%	12.8%	30.9%	29.1%	44.4%	6.2%	0.2%	399.3K	-18.2M	-108.9K	4.81	26.88	N/A	N/A	6	29	7,788	4,213
2011-03-17	$65.12	$65.16	43.8%	12.5%	31.0%	27.9%	43.3%	6.2%	-0.3%	441.3K	-19.8M	-107.9K	2.43	41.50	N/A	N/A	8	21	7,792	4,221
2011-03-18	$66.64	$65.16	41.7%	11.9%	32.3%	24.6%	41.1%	4.8%	1.8%	520.3K	-24.7M	-108.5K	0.01	35.88	N/A	N/A	331	3	7,793	4,217
2011-03-21	$67.33	$65.16	40.6%	11.6%	32.4%	22.9%	39.5%	6.2%	2.4%	377.2K	-17.2M	-106.4K	0.70	20.96	N/A	N/A	64	45	5,436	2,089
2011-03-22	$67.77	$65.16	38.2%	10.9%	27.3%	19.1%	38.5%	5.0%	3.0%	393.9K	-17.8M	-107.2K	0.16	23.82	N/A	N/A	407	64	5,478	2,118
2011-03-23	$68.68	$65.16	37.4%	10.7%	26.7%	17.8%	37.6%	3.9%	3.4%	434.1K	-20.1M	-116.6K	0.13	21.53	N/A	N/A	37	5	5,875	2,171
2011-03-24	$70.46	$65.16	36.8%	10.6%	27.8%	16.9%	37.5%	7.9%	4.0%	478.5K	-22.7M	-115.6K	0.19	19.96	N/A	N/A	61	12	5,897	2,175
2011-03-25	$70.76	$65.16	38.0%	10.9%	27.3%	18.8%	38.2%	11.5%	2.4%	482.8K	-23.1M	-116.2K	46.68	20.43	N/A	N/A	18	870	5,920	2,187
2011-03-28	$70.68	$69.50	41.0%	11.8%	27.3%	23.5%	40.9%	10.8%	1.7%	245.4K	-20.7M	-120.1K	3.05	29.95	N/A	N/A	93	287	5,931	3,048
2011-03-29	$66.90	$69.50	38.3%	11.0%	30.6%	19.3%	38.0%	4.0%	4.3%	134.8K	-13.0M	-120.6K	1.35	24.22	N/A	N/A	284	383	5,940	3,333
2011-03-30	$68.07	$69.50	34.1%	9.8%	30.9%	12.6%	36.1%	2.8%	4.6%	101.1K	-15.5M	-124.9K	0.14	24.22	N/A	N/A	246	33	6,198	3,650
2011-03-31	$67.90	$69.50	35.1%	10.1%	29.4%	14.3%	34.7%	5.7%	3.8%	141.2K	-16.0M	-125.2K	0.98	14.47	N/A	N/A	243	238	6,403	3,659