NBIX Options History — April 2010

In April 2010, NBIX traded between $2.47 and $3.38. ATM implied volatility averaged 84.1%, placing in the 30.4% IV rank vs the trailing year. The 30-day expected move averaged 19.4%. IV traded above realized volatility by 27.1% (HV 20d: 57.1%). Max pain ranged from $2.50 to $2.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 1.30.

Notable Days

2010-04-01: Highest Volume — 413 contracts
2010-04-15: Largest IV drop — 69.6% change
2010-04-14: Highest IV Rank — 100.0%
2010-04-23: Largest Expected Move — 26.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.02	$2.47	$3.38	$2.47	$3.21
Max Pain	$2.50	$2.50	$2.50	$2.50	$2.50
ATM IV	84.1%	57.0%	187.1%	65.9%	78.8%
Expected Move	19.4%	13.5%	26.4%	18.9%	22.6%
HV 20d	57.1%	44.4%	65.6%	62.4%	58.3%
HV 60d	59.5%	57.4%	64.1%	58.6%	58.9%
IV Rank	30.4%	9.3%	100.0%	18.3%	24.5%
IV Percentile	55.0%	12.3%	100.0%	29.4%	56.3%
Term Structure	7.1%	-30.5%	52.3%	8.6%	25.5%
VWIV	60.2%	33.6%	71.5%	66.0%	71.3%
Bid-Ask Spread %	49.62	21.99	81.79	68.80	23.64
Gamma HHI	0.69	0.48	0.91	0.71	0.91
Net GEX	2.0K	1.1K	3.5K	3.5K	1.8K
Net DEX	-260.7K	-411.3K	-134.6K	-143.9K	-297.1K
Net VEX	-1.1K	-1.3K	-969	-1.1K	-1.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.30	0.00	20.50	0.94	0.33
Total Volume	73.476	0	413	413	20
Total OI	2,945.762	2,619	3,180	2,702	3,101

Daily Data (21 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
2010-04-01	$2.47	$2.50	65.9%	18.9%	62.4%	18.3%	66.0%	0.0%	8.6%	3.5K	-143.9K	-1.1K	0.94	68.80	N/A	N/A	213	200	2,040	662
2010-04-05	$2.55	$2.50	86.8%	19.9%	44.6%	35.5%	71.5%	0.0%	14.6%	2.5K	-134.6K	-1.2K	20.50	45.61	N/A	N/A	2	41	2,113	862
2010-04-06	$2.55	$2.50	78.6%	18.9%	44.4%	28.7%	0.0%	0.0%	14.3%	2.8K	-142.5K	-1.2K	0.50	55.35	N/A	N/A	10	5	2,115	888
2010-04-07	$2.59	$2.50	66.1%	18.0%	44.5%	18.4%	0.0%	0.0%	20.5%	3.2K	-143.8K	-1.2K	0.00	51.55	N/A	N/A	0	100	2,125	893
2010-04-08	$2.81	$2.50	98.7%	21.0%	52.2%	45.2%	0.0%	0.0%	8.4%	2.4K	-235.4K	-1.2K	0.00	49.38	N/A	N/A	1	0	2,125	893
2010-04-09	$2.73	$2.50	92.6%	16.3%	52.3%	40.2%	0.0%	0.0%	27.7%	2.0K	-217.8K	-1.2K	0.45	53.74	N/A	N/A	11	5	2,126	993
2010-04-12	$2.79	$2.50	111.6%	16.5%	52.6%	55.8%	0.0%	0.0%	0.9%	2.0K	-234.9K	-1.1K	0.00	75.14	N/A	N/A	30	0	2,135	993
2010-04-13	$2.79	$2.50	112.5%	16.7%	50.3%	56.5%	0.0%	0.0%	10.0%	2.0K	-242.2K	-1.1K	0.00	70.77	N/A	N/A	0	0	2,144	993
2010-04-14	$3.10	$2.50	187.1%	13.5%	61.1%	100.0%	33.6%	0.0%	52.3%	1.1K	-379.2K	-1.0K	0.14	61.91	N/A	N/A	69	10	2,144	993
2010-04-15	$3.20	$2.50	57.0%	16.3%	60.1%	9.3%	0.0%	0.0%	0.9%	1.8K	-411.3K	-969	0.30	60.05	N/A	N/A	67	20	2,155	993
2010-04-16	$3.11	$2.50	57.5%	16.5%	60.5%	9.7%	56.4%	0.0%	0.8%	1.2K	-371.5K	-1.0K	0.80	73.79	N/A	N/A	45	36	2,167	1,013
2010-04-19	$3.15	$2.50	62.9%	18.0%	60.5%	13.4%	0.0%	0.0%	-11.4%	1.2K	-242.5K	-1.1K	0.39	75.81	N/A	N/A	77	30	1,765	854
2010-04-20	$3.25	$2.50	63.1%	18.1%	61.1%	13.5%	0.0%	0.0%	-3.7%	1.4K	-271.8K	-1.1K	0.00	23.64	N/A	N/A	16	0	1,842	874
2010-04-21	$3.26	$2.50	63.4%	18.2%	60.7%	13.8%	62.4%	0.0%	-10.2%	1.5K	-275.2K	-1.1K	0.00	27.76	N/A	N/A	5	0	1,846	874
2010-04-22	$3.38	$2.50	85.8%	24.6%	61.4%	29.3%	71.3%	0.0%	-28.6%	1.8K	-288.1K	-1.1K	0.00	50.32	N/A	N/A	17	0	1,841	874
2010-04-23	$3.38	$2.50	92.2%	26.4%	60.0%	33.9%	0.0%	0.0%	-23.2%	1.7K	-291.9K	-1.2K	0.26	81.79	N/A	N/A	152	40	1,841	874
2010-04-26	$3.38	$2.50	87.2%	25.0%	60.2%	30.4%	0.0%	0.0%	-30.5%	1.9K	-305.9K	-1.2K	0.00	27.00	N/A	N/A	77	0	1,963	914
2010-04-27	$3.18	$2.50	70.5%	20.2%	65.4%	18.7%	0.0%	0.0%	-8.8%	1.8K	-260.1K	-1.0K	0.00	21.99	N/A	N/A	15	0	2,030	914
2010-04-28	$3.26	$2.50	72.1%	20.7%	65.6%	19.8%	0.0%	0.0%	41.7%	1.7K	-294.7K	-1.2K	0.00	21.99	N/A	N/A	29	0	2,016	914
2010-04-29	$3.22	$2.50	76.4%	21.9%	60.3%	22.8%	0.0%	0.0%	39.2%	1.6K	-291.3K	-1.2K	0.00	21.99	N/A	N/A	200	0	2,045	914
2010-04-30	$3.21	$2.50	78.8%	22.6%	58.3%	24.5%	0.0%	0.0%	25.5%	1.8K	-297.1K	-1.3K	0.33	23.64	N/A	N/A	15	5	2,187	914