HTZ Options History — March 2016

In March 2016, HTZ traded between $41.66 and $49.74. ATM implied volatility averaged 63.0%, placing in the 56.7% IV rank vs the trailing year. The 30-day expected move averaged 18.2%. IV traded below realized volatility by 25.5% (HV 20d: 88.4%). Max pain ranged from $39.10 to $43.44. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.81.

Notable Days

2016-03-16: Highest Volume — 7,666 contracts
2016-03-02: Largest IV drop — 9.2% change
2016-03-01: Highest IV Rank — 68.3%
2016-03-01: Largest Expected Move — 20.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$45.54	$41.66	$49.74	$41.66	$45.96
Max Pain	$41.47	$39.10	$43.44	$39.10	$43.44
ATM IV	63.0%	56.4%	70.0%	70.0%	58.6%
Expected Move	18.2%	16.1%	20.9%	20.9%	17.2%
HV 20d	88.4%	68.1%	107.1%	107.1%	68.1%
HV 60d	80.9%	77.7%	83.7%	77.7%	83.7%
IV Rank	56.7%	46.1%	68.3%	68.3%	49.0%
IV Percentile	84.1%	77.8%	90.9%	90.9%	77.8%
Term Structure	-0.3%	-5.0%	2.4%	-3.1%	2.4%
VWIV	62.5%	56.7%	74.7%	74.7%	59.2%
Skew 25d	9.6%	4.1%	12.7%	8.4%	12.6%
Skew 10d	24.5%	10.4%	41.7%	41.7%	20.8%
Call IV 25d	58.7%	50.8%	64.2%	62.9%	55.0%
Put IV 25d	68.3%	60.1%	73.2%	71.3%	67.6%
Bid-Ask Spread %	38.02	14.53	87.43	77.90	28.42
Gamma HHI	0.21	0.11	0.37	0.33	0.14
Net GEX	312.5K	-235.0K	816.3K	535.2K	464.8K
Net DEX	-16.9M	-43.5M	5.7M	-1.4M	-9.0M
Net VEX	-203.2K	-230.6K	-167.2K	-229.1K	-214.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.81	0.26	1.67	0.43	0.89
Total Volume	2,974.864	1,304	7,666	5,729	1,865
Total OI	50,474.591	25,205	65,514	64,299	30,241

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
2016-03-01	$41.66	$39.10	70.0%	20.9%	107.1%	68.3%	74.7%	8.4%	-3.1%	535.2K	-1.4M	-229.1K	0.43	77.90	N/A	N/A	4,002	1,727	34,901	29,398
2016-03-02	$43.18	$39.10	63.6%	19.3%	97.1%	57.9%	68.3%	9.6%	1.6%	528.6K	-9.1M	-224.6K	0.40	81.40	N/A	N/A	2,829	1,131	32,531	29,753
2016-03-03	$43.53	$39.10	65.4%	18.6%	96.9%	60.9%	65.0%	8.8%	0.9%	472.6K	-12.1M	-230.6K	0.52	21.45	N/A	N/A	1,730	899	32,649	30,168
2016-03-04	$45.57	$39.10	64.0%	18.8%	97.7%	58.6%	64.3%	7.9%	0.3%	418.4K	-30.8M	-220.9K	1.14	19.05	N/A	N/A	1,097	1,247	33,488	30,397
2016-03-07	$46.48	$39.10	67.6%	19.1%	96.0%	64.5%	67.8%	11.6%	-0.8%	260.5K	-32.0M	-220.2K	0.26	17.88	N/A	N/A	2,759	710	32,484	30,007
2016-03-08	$44.53	$39.10	68.6%	19.7%	88.9%	66.0%	65.0%	8.7%	0.5%	599.4K	-24.7M	-205.1K	0.50	15.22	N/A	N/A	1,095	548	32,841	30,138
2016-03-09	$44.27	$39.10	67.0%	19.6%	88.9%	63.5%	64.1%	8.7%	1.4%	659.1K	-17.7M	-200.1K	0.55	22.03	N/A	N/A	1,148	628	32,839	30,260
2016-03-10	$42.83	$39.10	66.0%	19.0%	90.5%	61.8%	64.4%	12.7%	-0.6%	816.3K	-7.7M	-197.3K	0.93	18.60	N/A	N/A	887	829	32,653	30,328
2016-03-11	$47.91	$39.10	60.9%	17.7%	93.4%	53.6%	61.4%	9.5%	0.1%	107.1K	-43.5M	-195.6K	0.56	19.07	N/A	N/A	1,816	1,024	32,669	30,544
2016-03-14	$46.96	$39.10	62.6%	17.7%	94.0%	56.4%	63.6%	9.1%	1.3%	-235.0K	-35.4M	-179.5K	0.48	14.53	N/A	N/A	1,137	550	32,251	30,359
2016-03-15	$45.13	$43.44	66.0%	19.0%	93.0%	61.9%	63.1%	8.5%	-3.0%	377.9K	-25.1M	-173.4K	0.61	15.56	N/A	N/A	1,107	680	32,347	30,512
2016-03-16	$45.79	$43.44	60.3%	17.3%	92.3%	52.5%	60.8%	9.7%	1.4%	125.1K	-27.2M	-167.2K	0.55	87.43	N/A	N/A	4,946	2,720	32,238	30,385
2016-03-17	$47.74	$43.44	59.5%	17.1%	92.9%	51.2%	56.9%	11.7%	-2.4%	54.7K	-32.6M	-199.0K	0.86	79.74	N/A	N/A	3,194	2,741	32,780	32,553
2016-03-18	$49.74	$43.44	58.5%	17.2%	92.0%	49.6%	58.0%	12.1%	-5.0%	253.3K	-39.7M	-198.1K	0.59	84.60	N/A	N/A	1,494	882	32,839	32,675
2016-03-21	$49.22	$43.44	56.4%	16.1%	90.9%	46.1%	57.6%	11.4%	0.1%	295.2K	-10.7M	-196.4K	1.62	37.24	N/A	N/A	554	898	12,434	12,771
2016-03-22	$48.39	$43.44	57.3%	16.7%	90.7%	47.6%	56.7%	6.8%	0.5%	280.0K	-8.7M	-195.2K	1.67	28.94	N/A	N/A	488	816	12,559	12,920
2016-03-23	$45.61	$43.44	60.4%	17.0%	75.2%	52.8%	60.6%	11.0%	-2.3%	213.5K	-3.0M	-191.1K	1.48	39.61	N/A	N/A	1,861	2,753	12,635	12,989
2016-03-24	$45.53	$43.44	60.5%	17.8%	75.3%	52.1%	61.9%	10.3%	0.3%	140.2K	-1.2M	-212.2K	0.98	36.11	N/A	N/A	1,107	1,085	13,879	14,815
2016-03-28	$42.66	$43.44	64.7%	18.3%	77.6%	59.0%	61.7%	7.8%	-0.3%	62.4K	5.7M	-195.5K	1.27	35.82	N/A	N/A	1,205	1,535	13,718	14,786
2016-03-29	$44.70	$43.44	62.7%	17.4%	78.3%	55.8%	60.4%	11.1%	-0.6%	142.1K	-218.5K	-210.8K	0.58	30.59	N/A	N/A	2,347	1,366	14,396	15,324
2016-03-30	$44.48	$43.44	64.1%	18.2%	68.2%	58.0%	60.4%	4.1%	-0.4%	302.6K	-5.4M	-213.1K	0.88	25.32	N/A	N/A	1,070	940	15,349	14,638
2016-03-31	$45.96	$43.44	58.6%	17.2%	68.1%	49.0%	59.2%	12.6%	2.4%	464.8K	-9.0M	-214.8K	0.89	28.42	N/A	N/A	984	881	15,501	14,740