OPEN Options History — February 2013

In February 2013, OPEN traded between $49.31 and $56.37. ATM implied volatility averaged 43.8%, placing in the 12.5% IV rank vs the trailing year. The 30-day expected move averaged 11.2%. IV traded above realized volatility by 2.6% (HV 20d: 41.2%). Max pain ranged from $50.00 to $55.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.67.

Notable Days

2013-02-08: Highest Volume — 16,705 contracts
2013-02-07: Largest IV drop — 32.8% change
2013-02-06: Highest IV Rank — 55.4%
2013-02-07: Largest Expected Move — 14.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$53.80	$49.31	$56.37	$53.43	$55.60
Max Pain	$52.63	$50.00	$55.00	$55.00	$55.00
ATM IV	43.8%	33.4%	75.8%	63.1%	33.4%
Expected Move	11.2%	9.6%	14.6%	13.2%	9.6%
HV 20d	41.2%	31.4%	46.5%	31.4%	41.9%
HV 60d	32.9%	29.3%	35.1%	30.2%	35.1%
IV Rank	12.5%	0.0%	55.4%	37.9%	0.0%
IV Percentile	24.1%	0.0%	96.4%	82.5%	0.0%
Term Structure	0.0%	-8.2%	3.9%	-6.0%	3.9%
VWIV	39.2%	34.0%	50.7%	47.0%	34.0%
Skew 25d	1.2%	-0.4%	4.3%	4.1%	-0.3%
Skew 10d	2.0%	-1.1%	8.0%	8.0%	1.4%
Call IV 25d	38.7%	34.2%	49.3%	43.5%	34.4%
Put IV 25d	39.9%	34.1%	53.6%	47.6%	34.1%
Bid-Ask Spread %	17.77	11.49	26.92	26.92	19.31
Gamma HHI	0.19	0.14	0.28	0.15	0.21
Net GEX	416.2K	-279.3K	1.5M	-89.1K	555.8K
Net DEX	-14.7M	-38.7M	7.8M	-7.8M	-16.8M
Net VEX	-167.6K	-204.7K	-136.6K	-143.3K	-193.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.29	1.50	0.45	1.50
Total Volume	4,251.158	685	16,705	1,189	1,057
Total OI	27,818.947	21,479	36,855	21,479	28,086

Daily Data (19 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 Vol	Put Vol	Call OI	Put OI
2013-02-01	$53.43	$55.00	63.1%	13.2%	31.4%	37.9%	47.0%	4.1%	-6.0%	-89.1K	-7.8M	-143.3K	0.45	26.92	818	371	10,103	11,376
2013-02-04	$51.56	$52.50	70.8%	13.9%	33.4%	48.4%	48.4%	2.6%	-8.2%	-139.6K	-3.0M	-139.6K	0.79	20.93	954	750	10,717	11,454
2013-02-05	$50.74	$55.00	74.6%	14.0%	33.8%	53.7%	48.5%	3.5%	-7.5%	-237.0K	2.3M	-142.2K	1.22	18.77	308	377	10,857	12,088
2013-02-06	$50.50	$52.50	75.8%	13.9%	33.1%	55.4%	46.8%	3.9%	-6.9%	-279.3K	4.2M	-138.6K	0.63	22.68	678	425	10,999	12,277
2013-02-07	$49.31	$52.50	50.9%	14.6%	34.1%	21.3%	50.7%	4.3%	-7.8%	-272.9K	7.8M	-136.6K	0.83	23.49	8,943	7,458	11,231	12,280
2013-02-08	$53.00	$50.00	38.1%	10.9%	42.9%	3.9%	38.2%	1.3%	0.6%	359.0K	-16.7M	-153.7K	0.63	12.80	10,254	6,451	16,658	16,079
2013-02-11	$52.26	$50.00	39.1%	11.2%	42.4%	5.6%	39.4%	0.5%	-0.8%	103.2K	-9.2M	-170.7K	0.64	11.49	2,471	1,577	18,994	17,367
2013-02-12	$54.74	$50.00	37.3%	10.7%	45.5%	2.9%	37.9%	0.3%	2.2%	1.1M	-33.5M	-166.0K	0.29	15.17	5,857	1,727	18,232	17,075
2013-02-13	$54.85	$50.00	35.2%	10.1%	45.5%	0.0%	35.4%	-0.1%	3.5%	1.3M	-30.3M	-175.1K	0.45	14.51	3,460	1,542	18,989	17,384
2013-02-14	$55.77	$52.50	35.4%	10.2%	44.8%	0.4%	36.0%	-0.1%	2.9%	1.3M	-37.6M	-170.8K	0.50	12.53	2,787	1,402	18,276	17,394
2013-02-15	$55.49	$52.50	34.3%	9.8%	44.8%	0.0%	34.9%	-0.0%	3.7%	1.5M	-38.7M	-178.0K	0.59	15.40	1,769	1,051	18,831	18,024
2013-02-19	$55.39	$52.50	34.6%	9.9%	43.1%	0.5%	35.2%	-0.4%	3.3%	515.4K	-17.3M	-176.6K	0.50	13.58	568	283	12,456	10,294
2013-02-20	$55.39	$52.50	34.9%	10.0%	42.9%	0.9%	36.1%	0.5%	2.6%	518.8K	-17.0M	-175.7K	0.85	25.21	1,649	1,394	12,519	10,428
2013-02-21	$54.09	$52.50	35.1%	10.1%	43.7%	1.2%	35.9%	0.7%	2.8%	232.8K	-9.2M	-179.2K	0.40	16.53	1,174	467	12,744	11,393
2013-02-22	$55.16	$52.50	34.0%	9.7%	44.0%	0.0%	34.3%	-0.0%	3.2%	372.2K	-14.4M	-179.7K	1.06	20.81	603	637	12,855	11,592
2013-02-25	$54.46	$52.50	35.3%	10.1%	44.2%	1.9%	35.3%	0.6%	3.0%	250.4K	-10.5M	-179.4K	0.52	13.95	1,453	758	13,166	11,950
2013-02-26	$54.07	$55.00	34.6%	9.9%	44.1%	0.8%	35.2%	1.7%	3.1%	177.1K	-8.3M	-179.9K	0.58	18.86	2,695	1,573	13,539	12,247
2013-02-27	$56.37	$55.00	35.5%	10.2%	46.5%	2.2%	36.3%	-0.4%	2.4%	654.1K	-23.1M	-204.7K	0.32	14.65	3,814	1,217	15,088	13,518
2013-02-28	$55.60	$55.00	33.4%	9.6%	41.9%	0.0%	34.0%	-0.3%	3.9%	555.8K	-16.8M	-193.9K	1.50	19.31	423	634	15,157	12,929