PCH Options History — November 2014

In November 2014, PCH traded between $41.54 and $44.06. ATM implied volatility averaged 32.6%, placing in the 22.5% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded above realized volatility by 18.8% (HV 20d: 13.8%). Max pain ranged from $45.00 to $45.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.93.

Notable Days

2014-11-21: Highest Volume — 88 contracts
2014-11-07: Largest IV spike — 269.8% change
2014-11-07: Highest IV Rank — 40.9%
2014-11-21: Largest Expected Move — 8.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$42.62	$41.54	$44.06	$44.06	$41.55
Max Pain	$45.00	$45.00	$45.00	$45.00	$45.00
ATM IV	32.6%	13.2%	48.8%	24.1%	43.3%
Expected Move	6.8%	4.9%	8.8%	7.2%	7.7%
HV 20d	13.8%	10.5%	15.5%	15.3%	10.5%
HV 60d	14.5%	14.2%	14.9%	14.4%	14.8%
IV Rank	22.5%	0.4%	40.9%	12.8%	34.7%
IV Percentile	46.7%	0.4%	87.3%	16.7%	80.2%
Term Structure	-8.5%	-27.0%	7.8%	-3.1%	-10.3%
VWIV	24.2%	18.0%	33.7%	27.2%	18.0%
Skew 25d	14.0%	-1.3%	37.9%	0.6%	21.7%
Skew 10d	11.9%	-12.3%	26.6%	5.3%	24.0%
Call IV 25d	25.4%	13.6%	49.0%	41.8%	29.3%
Put IV 25d	39.4%	21.7%	67.7%	42.4%	51.0%
Bid-Ask Spread %	119.59	101.08	129.47	116.16	129.47
Gamma HHI	0.61	0.48	0.87	0.76	0.59
Net GEX	8.1K	1.6K	15.3K	9.8K	1.7K
Net DEX	-112.5K	-189.3K	1.0K	-189.3K	-1.9K
Net VEX	-400	-534	-240	-240	-452
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.93	0.38	1.18	0.90	0.38
Total Volume	54.737	0	88	74	0
Total OI	107.737	51	142	101	54

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2014-11-03	$44.06	$45.00	24.1%	7.2%	15.3%	12.8%	27.2%	0.6%	-3.1%	9.8K	-189.3K	-240	0.90	116.16	N/A	N/A	39	35	63	38
2014-11-04	$43.62	$45.00	39.1%	7.0%	15.5%	29.9%	27.1%	5.4%	-18.2%	9.4K	-187.7K	-529	0.90	124.67	N/A	N/A	39	35	83	38
2014-11-05	$43.78	$45.00	34.4%	8.0%	14.9%	24.6%	27.6%	8.2%	-11.6%	11.7K	-180.7K	-473	0.90	111.77	N/A	N/A	39	35	83	38
2014-11-06	$43.64	$45.00	13.2%	7.0%	15.0%	0.4%	27.7%	22.6%	7.8%	14.0K	-181.6K	-379	0.90	106.17	N/A	N/A	39	35	83	38
2014-11-07	$43.78	$45.00	48.8%	7.0%	14.6%	40.9%	26.6%	-0.4%	5.2%	7.4K	-170.1K	-534	0.90	127.60	N/A	N/A	39	35	83	38
2014-11-10	$43.84	$45.00	17.6%	5.6%	13.9%	5.4%	20.8%	10.9%	3.5%	15.3K	-188.6K	-374	0.90	121.56	N/A	N/A	39	35	83	38
2014-11-11	$43.25	$45.00	22.5%	5.4%	14.3%	11.0%	19.3%	-0.9%	-4.8%	7.1K	-118.4K	-272	0.90	119.12	N/A	N/A	39	35	54	28
2014-11-12	$42.87	$45.00	30.1%	5.6%	14.1%	19.6%	20.3%	20.5%	5.2%	11.9K	-143.7K	-375	0.90	119.57	N/A	N/A	39	35	83	38
2014-11-13	$42.59	$45.00	21.7%	5.6%	14.3%	10.0%	20.8%	37.9%	2.4%	10.9K	-134.2K	-383	0.90	120.76	N/A	N/A	39	35	83	38
2014-11-14	$42.04	$45.00	35.8%	7.3%	15.0%	26.2%	0.0%	20.5%	-15.5%	8.9K	-118.1K	-346	0.00	115.15	N/A	N/A	0	0	83	38
2014-11-17	$42.25	$45.00	43.1%	8.0%	14.1%	34.4%	30.6%	28.5%	-19.5%	9.7K	-118.7K	-303	1.15	124.22	N/A	N/A	39	45	83	38
2014-11-18	$42.03	$45.00	18.8%	5.5%	13.5%	6.8%	18.5%	8.1%	0.6%	7.3K	-112.7K	-436	1.15	101.08	N/A	N/A	39	45	93	48
2014-11-19	$41.54	$45.00	37.6%	7.2%	14.0%	28.1%	0.0%	20.4%	-14.4%	8.3K	-91.1K	-427	0.00	127.21	N/A	N/A	0	0	93	48
2014-11-20	$41.55	$45.00	29.5%	7.8%	13.2%	19.0%	21.2%	1.4%	-6.8%	7.7K	-90.1K	-413	1.18	126.90	N/A	N/A	39	46	93	48
2014-11-21	$41.61	$45.00	44.6%	8.8%	13.0%	36.2%	33.7%	27.4%	-18.6%	6.8K	-108.6K	-451	1.10	124.88	N/A	N/A	42	46	93	49
2014-11-24	$41.91	$45.00	28.6%	4.9%	12.9%	17.9%	0.0%	-1.3%	-24.3%	1.6K	1.0K	-372	0.00	121.35	N/A	N/A	0	0	35	16
2014-11-25	$42.02	$45.00	45.0%	6.1%	11.8%	36.5%	18.0%	19.6%	-27.0%	2.7K	-4.1K	-391	0.38	111.80	N/A	N/A	24	9	35	16
2014-11-26	$41.80	$45.00	41.8%	8.1%	11.8%	32.9%	0.0%	14.4%	-11.3%	2.1K	765	-446	0.00	122.70	N/A	N/A	0	0	35	19
2014-11-28	$41.55	$45.00	43.3%	7.7%	10.5%	34.7%	0.0%	21.7%	-10.3%	1.7K	-1.9K	-452	0.00	129.47	N/A	N/A	0	0	35	19