PCH Options History — June 2014

In June 2014, PCH traded between $40.04 and $41.70. ATM implied volatility averaged 37.4%, placing in the 29.3% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded above realized volatility by 21.5% (HV 20d: 15.9%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2014-06-26: Highest Volume — 14 contracts
2014-06-25: Largest IV spike — 174.8% change
2014-06-10: Highest IV Rank — 46.3%
2014-06-02: Largest Expected Move — 12.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.57	$40.04	$41.70	$40.04	$41.40
Max Pain	$40.00	$40.00	$40.00	$40.00	$40.00
ATM IV	37.4%	14.6%	52.0%	44.8%	27.7%
Expected Move	9.0%	4.9%	12.8%	12.8%	5.1%
HV 20d	15.9%	10.2%	20.9%	20.9%	11.0%
HV 60d	17.5%	16.5%	18.4%	18.4%	16.5%
IV Rank	29.3%	2.6%	46.3%	37.9%	17.9%
IV Percentile	70.6%	1.6%	95.6%	89.3%	49.6%
Term Structure	-8.8%	-18.9%	8.9%	-4.1%	-11.5%
Skew 25d	6.8%	-4.2%	28.3%	17.4%	-2.4%
Skew 10d	12.2%	2.0%	36.4%	22.4%	10.2%
Call IV 25d	40.4%	23.0%	60.2%	41.2%	32.7%
Put IV 25d	47.3%	18.9%	66.7%	58.6%	30.3%
Bid-Ask Spread %	126.18	95.24	132.33	130.64	119.80
Gamma HHI	0.73	0.61	0.88	0.76	0.66
Net GEX	21.7K	15.3K	32.0K	15.3K	22.9K
Net DEX	-330.2K	-383.5K	-260.8K	-260.8K	-375.9K
Net VEX	-1.5K	-1.7K	-1.2K	-1.7K	-1.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	1.905	0	14	0	0
Total OI	232.762	217	242	226	231

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	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2014-06-02	$40.04	$40.00	44.8%	12.8%	20.9%	37.9%	0.0%	17.4%	-4.1%	15.3K	-260.8K	-1.7K	130.64	N/A	N/A	0	0	173	53
2014-06-03	$40.13	$40.00	44.2%	12.7%	20.8%	37.2%	0.0%	28.3%	-12.2%	16.8K	-265.8K	-1.6K	130.93	N/A	N/A	0	0	173	53
2014-06-04	$40.15	$40.00	17.1%	4.9%	19.6%	5.6%	0.0%	0.1%	-3.2%	32.0K	-307.3K	-1.6K	127.07	N/A	N/A	0	10	173	53
2014-06-05	$40.72	$40.00	44.3%	12.7%	19.0%	37.4%	0.0%	3.9%	-12.2%	17.8K	-342.9K	-1.6K	127.61	N/A	N/A	8	0	173	53
2014-06-06	$40.50	$40.00	35.6%	9.9%	18.4%	27.2%	0.0%	17.6%	1.3%	17.3K	-329.8K	-1.7K	131.19	N/A	N/A	8	0	181	53
2014-06-09	$40.30	$40.00	51.6%	11.5%	18.6%	45.9%	0.0%	6.5%	-6.1%	19.6K	-329.6K	-1.7K	131.75	N/A	N/A	0	0	189	53
2014-06-10	$40.42	$40.00	52.0%	10.3%	18.2%	46.3%	0.0%	3.1%	-7.4%	19.7K	-338.1K	-1.7K	131.55	N/A	N/A	0	0	189	53
2014-06-11	$40.22	$40.00	41.0%	9.9%	17.3%	33.5%	0.0%	4.0%	-5.9%	20.6K	-314.7K	-1.6K	131.82	N/A	N/A	0	0	189	53
2014-06-12	$40.37	$40.00	34.3%	9.8%	17.0%	25.6%	0.0%	4.4%	-5.2%	21.2K	-335.7K	-1.6K	131.22	N/A	N/A	0	0	189	53
2014-06-13	$40.05	$40.00	34.9%	10.0%	17.3%	26.4%	0.0%	4.0%	-14.8%	28.3K	-317.3K	-1.6K	131.59	N/A	N/A	0	0	189	53
2014-06-16	$40.09	$40.00	35.4%	10.2%	17.0%	27.0%	0.0%	4.3%	-11.6%	21.1K	-302.6K	-1.6K	131.57	N/A	N/A	0	0	189	53
2014-06-17	$40.19	$40.00	35.4%	10.1%	17.0%	26.9%	0.0%	3.7%	-9.7%	23.0K	-319.7K	-1.6K	130.55	N/A	N/A	0	0	189	53
2014-06-18	$40.50	$40.00	35.8%	10.2%	15.9%	27.4%	0.0%	5.0%	-6.4%	22.5K	-346.3K	-1.5K	131.14	N/A	N/A	0	0	189	53
2014-06-19	$40.48	$40.00	36.9%	10.6%	15.5%	28.7%	0.0%	4.8%	-6.3%	22.3K	-337.8K	-1.5K	132.33	N/A	N/A	0	0	189	53
2014-06-20	$40.64	$40.00	40.2%	11.5%	15.5%	32.6%	0.0%	5.1%	-5.5%	22.4K	-357.3K	-1.5K	125.67	N/A	N/A	0	0	189	53
2014-06-23	$40.34	$0.00	38.0%	5.7%	13.2%	30.0%	0.0%	3.7%	-18.6%	23.4K	-289.7K	-1.4K	95.24	N/A	N/A	0	0	164	53
2014-06-24	$41.02	$0.00	14.6%	4.9%	10.2%	2.6%	0.0%	-4.2%	8.9%	17.9K	-343.9K	-1.3K	105.22	N/A	N/A	0	0	164	53
2014-06-25	$41.36	$0.00	40.0%	5.5%	10.5%	32.4%	0.0%	6.1%	-18.9%	20.9K	-356.1K	-1.4K	125.84	N/A	N/A	0	0	164	53
2014-06-26	$41.37	$0.00	41.8%	5.6%	10.4%	34.5%	0.0%	22.5%	-17.7%	31.9K	-378.5K	-1.2K	127.84	N/A	N/A	14	0	164	53
2014-06-27	$41.70	$0.00	39.7%	6.1%	10.6%	32.0%	0.0%	5.5%	-16.9%	18.7K	-383.5K	-1.6K	119.17	N/A	N/A	0	0	178	53
2014-06-30	$41.40	$0.00	27.7%	5.1%	11.0%	17.9%	0.0%	-2.4%	-11.5%	22.9K	-375.9K	-1.5K	119.80	N/A	N/A	0	0	178	53