IHF Options History — November 2013

In November 2013, IHF traded between $17.53 and $18.67. ATM implied volatility averaged 13.1%, placing in the 8.7% IV rank vs the trailing year. The 30-day expected move averaged 3.9%. IV traded above realized volatility by 1.2% (HV 20d: 11.9%). Max pain ranged from $16.20 to $17.40. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.17.

Notable Days

2013-11-26: Highest Volume — 515 contracts
2013-11-08: Largest IV drop — 15.8% change
2013-11-07: Highest IV Rank — 13.7%
2013-11-07: Largest Expected Move — 4.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.07	$17.53	$18.67	$17.53	$18.67
Max Pain	$17.34	$16.20	$17.40	$16.20	$17.40
ATM IV	13.1%	11.2%	15.1%	13.0%	13.2%
Expected Move	3.9%	3.2%	4.5%	3.7%	3.8%
HV 20d	11.9%	10.6%	13.3%	12.6%	10.7%
HV 60d	12.5%	12.0%	12.9%	12.3%	12.0%
IV Rank	8.7%	3.9%	13.7%	8.5%	8.9%
IV Percentile	21.7%	2.0%	57.9%	17.9%	25.4%
Term Structure	1.3%	0.7%	3.0%	3.0%	1.0%
VWIV	16.6%	16.6%	16.6%	16.6%	16.6%
Skew 25d	2.8%	2.1%	3.7%	3.7%	2.2%
Skew 10d	4.1%	1.7%	5.9%	3.5%	5.9%
Call IV 25d	12.7%	11.2%	15.1%	11.6%	12.7%
Put IV 25d	15.5%	13.3%	17.2%	15.4%	14.9%
Bid-Ask Spread %	46.36	33.19	65.57	65.57	34.66
Gamma HHI	0.72	0.58	0.85	0.60	0.58
Net GEX	148.2K	126.7K	167.6K	166.0K	127.1K
Net DEX	-2.8M	-4.0M	-1.9M	-3.6M	-2.3M
Net VEX	-7.2K	-8.7K	-5.5K	-8.7K	-5.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.17	0.00	2.00	0.00	0.00
Total Volume	66.25	0	515	50	0
Total OI	3,098	1,890	4,355	4,355	1,960

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
2013-11-01	$17.53	$16.20	13.0%	3.7%	12.6%	8.5%	0.0%	3.7%	3.0%	166.0K	-3.6M	-8.7K	0.00	65.57	N/A	N/A	50	0	3,335	1,020
2013-11-04	$17.74	$17.40	13.2%	4.3%	13.0%	8.9%	16.6%	2.4%	1.5%	153.1K	-3.9M	-8.2K	2.00	37.55	N/A	N/A	25	50	3,285	1,020
2013-11-05	$17.66	$17.40	13.5%	4.4%	12.7%	9.7%	0.0%	2.3%	1.5%	155.8K	-3.8M	-8.2K	0.00	37.66	N/A	N/A	0	0	3,285	1,045
2013-11-06	$17.77	$17.40	13.9%	4.4%	12.8%	10.7%	0.0%	3.2%	1.2%	150.7K	-3.9M	-8.1K	0.00	33.19	N/A	N/A	0	0	3,260	1,045
2013-11-07	$17.53	$17.40	15.1%	4.5%	12.5%	13.7%	0.0%	2.1%	1.0%	142.5K	-3.5M	-8.0K	0.00	52.64	N/A	N/A	5	0	3,260	1,045
2013-11-08	$17.76	$17.40	12.8%	4.2%	13.2%	7.8%	0.0%	3.1%	1.2%	159.5K	-3.9M	-8.0K	0.00	41.57	N/A	N/A	0	0	3,260	1,045
2013-11-11	$17.86	$17.40	14.4%	4.2%	13.3%	11.8%	0.0%	3.3%	1.3%	163.7K	-4.0M	-7.8K	0.00	39.45	N/A	N/A	35	0	3,260	1,045
2013-11-12	$17.88	$17.40	13.9%	4.1%	13.0%	10.6%	0.0%	3.6%	1.7%	167.6K	-4.0M	-7.7K	0.00	40.96	N/A	N/A	25	0	3,240	1,045
2013-11-13	$18.01	$17.40	12.2%	4.0%	12.1%	6.3%	0.0%	3.2%	1.7%	151.1K	-2.1M	-7.5K	0.00	36.69	N/A	N/A	10	0	2,050	1,045
2013-11-14	$18.18	$17.40	13.9%	4.0%	12.1%	10.7%	0.0%	2.7%	1.2%	151.8K	-2.2M	-7.3K	0.00	42.76	N/A	N/A	0	0	2,030	1,045
2013-11-15	$18.11	$17.40	12.5%	3.6%	11.8%	7.3%	0.0%	3.5%	2.5%	144.0K	-2.2M	-7.4K	0.00	46.54	N/A	N/A	0	0	2,020	1,045
2013-11-18	$18.06	$17.40	13.8%	4.0%	11.8%	10.4%	0.0%	2.5%	0.7%	145.2K	-2.0M	-7.2K	0.00	44.16	N/A	N/A	0	0	1,895	190
2013-11-19	$17.99	$17.40	13.3%	3.8%	11.8%	9.1%	0.0%	3.2%	1.1%	147.4K	-1.9M	-7.2K	0.00	41.46	N/A	N/A	0	0	1,895	190
2013-11-20	$18.14	$17.40	12.4%	3.6%	11.4%	7.0%	0.0%	2.9%	1.0%	153.5K	-2.0M	-7.0K	0.00	48.31	N/A	N/A	50	0	1,895	190
2013-11-21	$18.27	$17.40	12.3%	3.5%	10.7%	6.6%	0.0%	2.2%	0.7%	150.8K	-2.1M	-6.6K	0.00	62.66	N/A	N/A	105	0	1,845	190
2013-11-22	$18.41	$17.40	12.0%	3.5%	10.6%	6.1%	0.0%	2.1%	0.8%	137.5K	-2.1M	-6.1K	0.00	50.67	N/A	N/A	50	0	1,750	190
2013-11-25	$18.56	$17.40	11.2%	3.2%	10.8%	3.9%	0.0%	2.2%	1.3%	127.7K	-2.2M	-5.5K	0.00	62.13	N/A	N/A	400	0	1,700	190
2013-11-26	$18.66	$17.40	12.7%	3.6%	10.8%	7.6%	0.0%	3.0%	0.7%	142.4K	-2.6M	-6.5K	0.00	50.35	N/A	N/A	515	0	2,000	190
2013-11-27	$18.65	$17.40	12.8%	3.7%	10.7%	7.9%	0.0%	2.1%	1.1%	126.7K	-2.3M	-5.8K	0.00	58.20	N/A	N/A	5	0	1,770	190
2013-11-29	$18.67	$17.40	13.2%	3.8%	10.7%	8.9%	0.0%	2.2%	1.0%	127.1K	-2.3M	-5.7K	0.00	34.66	N/A	N/A	0	0	1,770	190