HTZ Options History — May 2015

In May 2015, HTZ traded between $84.49 and $96.96. ATM implied volatility averaged 36.8%, placing in the 18.8% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded below realized volatility by 2.0% (HV 20d: 38.8%). Max pain ranged from $91.23 to $95.57. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.92.

Notable Days

2015-05-15: Highest Volume — 13,910 contracts
2015-05-04: Largest IV drop — 10.8% change
2015-05-01: Highest IV Rank — 27.8%
2015-05-01: Largest Expected Move — 13.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$89.48	$84.49	$96.96	$96.96	$86.58
Max Pain	$91.44	$91.23	$95.57	$95.57	$91.23
ATM IV	36.8%	34.5%	40.9%	40.9%	37.5%
Expected Move	10.7%	9.5%	13.0%	13.0%	9.9%
HV 20d	38.8%	31.9%	44.6%	31.9%	44.6%
HV 60d	29.4%	26.6%	31.8%	27.5%	30.7%
IV Rank	18.8%	13.8%	27.8%	27.8%	20.3%
IV Percentile	37.1%	17.9%	57.1%	57.1%	42.5%
Term Structure	0.7%	-4.8%	5.1%	-3.0%	0.1%
VWIV	37.8%	33.8%	46.0%	46.0%	35.5%
Skew 25d	3.3%	-0.0%	6.4%	6.1%	2.8%
Skew 10d	4.2%	-11.8%	22.0%	7.4%	3.1%
Call IV 25d	35.5%	30.0%	37.5%	35.8%	35.6%
Put IV 25d	38.7%	36.1%	41.9%	41.9%	38.5%
Bid-Ask Spread %	21.95	15.52	36.94	36.94	18.16
Gamma HHI	0.22	0.17	0.26	0.23	0.23
Net GEX	3.9M	1.3M	6.0M	4.3M	2.4M
Net DEX	-55.2M	-144.1M	24.3M	-144.1M	-2.9M
Net VEX	-1.2M	-1.3M	-1.1M	-1.3M	-1.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.92	0.13	1.91	0.13	1.27
Total Volume	4,609.6	1,275	13,910	8,953	2,485
Total OI	89,162.6	78,179	95,587	78,179	95,587

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	$96.96	$95.57	40.9%	13.0%	31.9%	27.8%	46.0%	6.1%	-3.0%	4.3M	-144.1M	-1.3M	0.13	36.94	N/A	N/A	7,934	1,019	48,381	29,798
2015-05-04	$94.53	$91.23	36.5%	10.7%	33.0%	18.3%	37.9%	2.0%	1.4%	5.7M	-141.2M	-1.3M	0.52	25.88	N/A	N/A	1,045	543	51,878	29,387
2015-05-05	$92.31	$91.23	36.1%	10.7%	33.5%	17.5%	37.0%	1.4%	0.2%	4.6M	-96.4M	-1.2M	1.12	20.87	N/A	N/A	1,849	2,067	51,916	29,833
2015-05-06	$90.14	$91.23	36.8%	11.2%	34.3%	18.9%	39.0%	2.3%	-0.2%	3.3M	-57.6M	-1.2M	1.11	22.66	N/A	N/A	2,117	2,360	51,861	30,950
2015-05-07	$89.88	$91.23	36.9%	11.0%	34.1%	19.0%	38.1%	4.2%	0.4%	3.4M	-54.5M	-1.2M	0.38	16.79	N/A	N/A	3,409	1,291	52,697	31,377
2015-05-08	$90.96	$91.23	35.3%	11.0%	34.3%	15.6%	36.6%	4.9%	-1.0%	4.1M	-73.2M	-1.2M	0.44	20.87	N/A	N/A	887	388	52,917	31,578
2015-05-11	$89.70	$91.23	36.4%	10.9%	34.6%	18.1%	37.4%	0.5%	0.4%	3.3M	-50.4M	-1.2M	0.23	21.30	N/A	N/A	1,964	444	52,868	31,456
2015-05-12	$86.36	$91.23	36.8%	11.0%	37.2%	18.9%	39.6%	4.6%	1.9%	1.7M	4.0M	-1.1M	0.91	17.11	N/A	N/A	4,604	4,192	53,870	31,830
2015-05-13	$84.49	$91.23	37.0%	11.8%	35.6%	19.3%	41.5%	4.9%	5.1%	1.3M	24.3M	-1.1M	1.10	19.10	N/A	N/A	4,088	4,517	56,475	33,455
2015-05-14	$84.84	$91.23	37.8%	11.1%	35.7%	21.0%	39.1%	2.4%	1.2%	1.8M	23.4M	-1.1M	1.21	15.52	N/A	N/A	2,406	2,902	58,692	34,466
2015-05-15	$89.36	$91.23	39.1%	10.9%	40.7%	23.6%	37.9%	2.4%	-4.8%	4.5M	-61.0M	-1.2M	0.78	18.80	N/A	N/A	7,807	6,103	59,724	34,546
2015-05-18	$90.05	$91.23	36.0%	10.2%	40.7%	17.1%	36.2%	5.4%	2.5%	4.4M	-70.3M	-1.3M	0.41	25.21	N/A	N/A	1,144	471	56,791	34,998
2015-05-19	$86.88	$91.23	37.1%	10.6%	42.3%	19.3%	38.9%	4.1%	-3.3%	3.6M	-29.4M	-1.2M	1.91	27.62	N/A	N/A	906	1,730	57,436	33,864
2015-05-20	$89.14	$91.23	34.6%	9.9%	43.1%	14.0%	36.9%	5.0%	2.3%	4.1M	-43.8M	-1.2M	0.67	25.48	N/A	N/A	3,042	2,029	57,712	35,291
2015-05-21	$90.31	$91.23	35.3%	10.0%	43.3%	15.6%	35.4%	4.3%	5.0%	5.5M	-77.8M	-1.2M	0.84	23.88	N/A	N/A	2,307	1,935	59,463	35,176
2015-05-22	$91.66	$91.23	34.5%	9.5%	43.3%	13.8%	33.8%	6.4%	2.1%	6.0M	-107.2M	-1.3M	0.77	21.70	N/A	N/A	2,624	2,032	58,782	35,279
2015-05-26	$88.84	$91.23	37.6%	10.3%	44.5%	20.6%	36.9%	0.2%	1.8%	4.9M	-59.8M	-1.2M	1.19	22.18	N/A	N/A	1,091	1,302	59,066	34,713
2015-05-27	$88.66	$91.23	36.8%	10.3%	44.5%	18.8%	36.9%	-0.0%	1.1%	4.9M	-54.6M	-1.2M	1.50	19.63	N/A	N/A	860	1,287	59,402	35,053
2015-05-28	$87.88	$91.23	36.9%	10.3%	44.4%	18.9%	35.9%	1.4%	1.1%	4.8M	-30.4M	-1.1M	1.85	19.37	N/A	N/A	1,057	1,954	59,450	35,234
2015-05-29	$86.58	$91.23	37.5%	9.9%	44.6%	20.3%	35.5%	2.8%	0.1%	2.4M	-2.9M	-1.1M	1.27	18.16	N/A	N/A	1,097	1,388	59,641	35,946