HTZ Options History — July 2014

In July 2014, HTZ traded between $122.28 and $126.89. ATM implied volatility averaged 38.7%, placing in the 43.0% IV rank vs the trailing year. The 30-day expected move averaged 10.3%. IV traded above realized volatility by 16.5% (HV 20d: 22.2%). Max pain ranged from $108.60 to $160.73. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.74.

Notable Days

2014-07-11: Highest Volume — 11,928 contracts
2014-07-10: Largest IV spike — 13.9% change
2014-07-31: Highest IV Rank — 54.1%
2014-07-08: Largest Expected Move — 10.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$124.46	$122.28	$126.89	$124.02	$122.59
Max Pain	$128.15	$108.60	$160.73	$108.60	$139.01
ATM IV	38.7%	33.7%	42.3%	38.1%	42.3%
Expected Move	10.3%	10.0%	10.7%	10.5%	10.2%
HV 20d	22.2%	15.5%	42.9%	42.9%	16.4%
HV 60d	30.6%	28.5%	34.8%	34.8%	28.5%
IV Rank	43.0%	27.8%	54.1%	41.3%	54.1%
IV Percentile	71.0%	42.9%	86.5%	70.6%	86.5%
Term Structure	-2.3%	-5.5%	4.2%	0.5%	-4.0%
VWIV	36.4%	31.9%	41.2%	36.0%	34.7%
Skew 25d	4.7%	1.8%	6.8%	5.2%	4.7%
Skew 10d	10.7%	7.0%	14.0%	10.7%	11.4%
Call IV 25d	37.5%	35.5%	40.5%	37.8%	40.4%
Put IV 25d	42.3%	37.7%	45.1%	42.9%	45.1%
Bid-Ask Spread %	14.01	10.09	19.54	11.13	18.10
Gamma HHI	0.20	0.16	0.43	0.16	0.17
Net GEX	13.2M	9.1M	23.7M	11.2M	9.6M
Net DEX	-256.3M	-351.5M	-182.6M	-273.9M	-197.7M
Net VEX	-1.7M	-1.9M	-1.6M	-1.9M	-1.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.74	0.08	3.54	0.57	0.08
Total Volume	3,170.455	591	11,928	7,850	2,855
Total OI	91,609.727	77,583	105,755	89,280	84,148

Daily Data (22 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
2014-07-01	$124.02	$108.60	38.1%	10.5%	42.9%	41.3%	36.0%	5.2%	0.5%	11.2M	-273.9M	-1.9M	0.57	11.13	N/A	N/A	5,001	2,849	60,703	28,577
2014-07-02	$124.80	$108.60	36.9%	10.4%	42.9%	37.6%	41.2%	1.8%	2.4%	12.6M	-287.9M	-1.9M	2.48	11.26	N/A	N/A	650	1,609	62,924	30,595
2014-07-03	$125.76	$108.60	35.6%	10.4%	42.9%	33.6%	0.0%	3.1%	4.2%	13.6M	-311.2M	-1.9M	0.20	11.68	N/A	N/A	603	123	63,874	31,846
2014-07-07	$124.37	$108.60	36.9%	10.4%	25.9%	37.5%	37.0%	4.8%	-4.0%	13.6M	-275.7M	-1.9M	0.43	10.97	N/A	N/A	685	295	64,050	31,818
2014-07-08	$123.11	$108.60	34.6%	10.7%	23.7%	30.5%	37.2%	4.5%	-0.6%	13.5M	-244.5M	-1.8M	0.30	12.88	N/A	N/A	3,355	1,003	64,104	32,029
2014-07-09	$124.24	$117.29	33.7%	10.5%	23.6%	27.8%	37.0%	5.7%	-1.9%	14.6M	-276.3M	-1.8M	0.19	11.85	N/A	N/A	2,430	466	63,979	32,454
2014-07-10	$123.98	$117.29	38.4%	10.5%	21.4%	42.1%	39.2%	4.0%	-0.8%	15.7M	-282.6M	-1.9M	0.10	10.09	N/A	N/A	4,296	451	64,990	32,832
2014-07-11	$124.67	$117.29	40.3%	10.4%	21.4%	48.0%	36.0%	5.6%	-3.7%	15.9M	-294.2M	-1.9M	1.04	12.46	N/A	N/A	5,845	6,083	66,455	33,128
2014-07-14	$125.72	$117.29	41.3%	10.3%	21.3%	51.2%	36.8%	6.6%	-4.5%	15.7M	-303.5M	-1.8M	0.14	13.16	N/A	N/A	1,225	175	66,191	38,211
2014-07-15	$126.80	$117.29	39.6%	10.3%	21.3%	45.7%	35.2%	6.8%	-3.1%	18.4M	-334.4M	-1.8M	0.41	12.86	N/A	N/A	3,276	1,329	65,749	38,247
2014-07-16	$126.89	$117.29	39.8%	10.4%	21.2%	46.4%	39.2%	5.0%	-3.1%	21.0M	-351.5M	-1.7M	0.51	13.28	N/A	N/A	1,968	1,003	66,447	39,308
2014-07-17	$123.59	$117.29	41.7%	10.4%	17.0%	52.4%	37.4%	3.3%	-4.0%	14.4M	-237.2M	-1.7M	1.04	12.06	N/A	N/A	1,821	1,899	64,977	39,545
2014-07-18	$125.02	$117.29	38.0%	10.3%	16.9%	40.8%	36.8%	4.9%	-1.0%	23.7M	-266.9M	-1.7M	0.47	13.43	N/A	N/A	1,461	681	64,561	40,821
2014-07-21	$124.85	$0.00	38.5%	10.0%	16.9%	42.4%	0.0%	5.5%	-3.2%	9.3M	-218.8M	-1.6M	0.31	10.64	N/A	N/A	2,046	642	50,822	26,761
2014-07-22	$125.11	$0.00	37.6%	10.1%	16.9%	39.7%	31.9%	5.9%	-2.7%	9.8M	-231.1M	-1.6M	0.56	10.85	N/A	N/A	822	460	52,365	27,264
2014-07-23	$125.07	$160.73	37.5%	10.0%	15.6%	39.5%	0.0%	5.5%	-2.6%	10.0M	-230.3M	-1.6M	0.33	18.68	N/A	N/A	445	146	52,328	27,205
2014-07-24	$123.68	$160.73	39.6%	10.1%	15.9%	45.9%	39.4%	4.1%	-3.4%	9.3M	-206.6M	-1.6M	0.46	17.98	N/A	N/A	2,837	1,298	51,979	27,246
2014-07-25	$123.54	$160.73	39.2%	10.1%	15.8%	44.6%	32.5%	4.4%	-2.5%	9.8M	-208.4M	-1.6M	3.54	17.66	N/A	N/A	395	1,395	53,579	27,807
2014-07-28	$122.28	$160.73	40.0%	10.1%	16.3%	47.0%	0.0%	2.5%	-4.1%	9.1M	-182.6M	-1.6M	0.34	18.92	N/A	N/A	912	312	52,838	28,415
2014-07-29	$123.37	$160.73	41.0%	10.2%	16.5%	50.1%	34.2%	6.5%	-5.5%	9.7M	-199.1M	-1.6M	2.54	18.65	N/A	N/A	394	998	53,132	28,453
2014-07-30	$124.54	$139.01	39.9%	10.0%	15.5%	46.9%	33.7%	3.9%	-3.9%	10.1M	-223.7M	-1.6M	0.33	19.54	N/A	N/A	2,415	796	53,481	29,176
2014-07-31	$122.59	$139.01	42.3%	10.2%	16.4%	54.1%	34.7%	4.7%	-4.0%	9.6M	-197.7M	-1.6M	0.08	18.10	N/A	N/A	2,646	209	54,824	29,324