SMCI Options History — January 2008

In January 2008, SMCI traded between $0.81 and $0.95. ATM implied volatility averaged 49.1%, placing in the 29.0% IV rank vs the trailing year. The 30-day expected move averaged 14.5%. IV traded below realized volatility by 9.0% (HV 20d: 58.1%). Max pain ranged from $1.00 to $1.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.75.

Notable Days

2008-01-09: Highest Volume — 1,490 contracts
2008-01-17: Largest IV spike — 75.2% change
2008-01-30: Highest IV Rank — 32.5%
2008-01-03: Largest Expected Move — 18.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$0.86	$0.81	$0.95	$0.84	$0.95
Max Pain	$1.00	$1.00	$1.00	$1.00	$1.00
ATM IV	49.1%	30.5%	63.7%	55.1%	47.8%
Expected Move	14.5%	8.7%	18.3%	15.8%	13.7%
HV 20d	58.1%	49.6%	67.6%	49.6%	67.6%
HV 60d	51.3%	47.2%	58.0%	47.2%	58.0%
IV Rank	29.0%	26.1%	32.5%	28.1%	26.1%
IV Percentile	44.1%	30.2%	63.3%	38.9%	30.2%
Term Structure	4.4%	-3.5%	17.1%	6.2%	0.8%
Bid-Ask Spread %	92.44	76.20	107.95	76.20	96.77
Gamma HHI	0.61	0.53	0.74	0.70	0.71
Net GEX	2.1K	1.5K	3.0K	2.9K	2.2K
Net DEX	-57.0K	-105.8K	-28.4K	-76.8K	-82.0K
Net VEX	-336	-615	-206	-561	-250
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.75	0.00	3.17	2.00	0.00
Total Volume	128.095	0	1,490	0	40
Total OI	2,392.381	1,810	3,410	3,360	1,880

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 Vol	Put Vol	Call OI	Put OI
2008-01-02	$0.84	$1.00	55.1%	15.8%	49.6%	0.0%	0.0%	0.0%	6.2%	2.9K	-76.8K	-561	0.00	76.20	0	0	2,970	390
2008-01-03	$0.90	$1.00	63.7%	18.3%	54.3%	0.0%	0.0%	0.0%	17.1%	3.0K	-94.4K	-594	2.00	89.28	50	100	2,970	390
2008-01-04	$0.87	$0.00	48.1%	14.5%	55.6%	0.0%	0.0%	0.0%	2.5%	2.7K	-78.7K	-584	3.17	89.36	60	190	2,920	490
2008-01-07	$0.91	$0.00	35.8%	14.0%	55.6%	0.0%	0.0%	0.0%	-2.3%	2.8K	-105.8K	-615	0.00	80.18	300	0	2,930	390
2008-01-08	$0.91	$0.00	39.6%	13.7%	55.4%	0.0%	0.0%	0.0%	1.4%	2.9K	-103.7K	-611	0.00	80.14	0	0	2,930	390
2008-01-09	$0.91	$0.00	38.7%	13.4%	55.4%	0.0%	0.0%	0.0%	1.6%	2.9K	-103.0K	-608	0.00	83.55	1,490	0	2,930	390
2008-01-10	$0.91	$0.00	46.8%	13.4%	53.2%	0.0%	0.0%	0.0%	3.0%	1.5K	-46.6K	-281	0.11	84.42	190	20	1,620	390
2008-01-11	$0.88	$0.00	40.5%	11.6%	54.3%	0.0%	0.0%	0.0%	0.7%	1.7K	-51.2K	-281	0.00	91.28	0	60	1,810	410
2008-01-14	$0.86	$0.00	56.4%	16.2%	55.1%	0.0%	0.0%	0.0%	-3.5%	1.8K	-41.2K	-248	0.33	99.21	90	30	1,810	400
2008-01-15	$0.85	$0.00	53.0%	15.2%	55.1%	0.0%	0.0%	0.0%	1.0%	1.8K	-36.3K	-243	0.00	100.43	0	0	1,810	410
2008-01-16	$0.88	$0.00	30.5%	8.7%	56.3%	0.0%	0.0%	0.0%	16.2%	1.9K	-44.4K	-257	0.00	107.95	0	0	1,810	410
2008-01-17	$0.82	$0.00	53.4%	15.3%	61.9%	0.0%	0.0%	0.0%	0.1%	1.8K	-28.4K	-221	0.00	90.73	0	0	1,810	410
2008-01-18	$0.82	$0.00	51.5%	14.8%	61.8%	0.0%	0.0%	0.0%	3.3%	1.7K	-28.4K	-217	0.00	98.64	0	0	1,810	410
2008-01-22	$0.83	$0.00	53.6%	15.4%	61.6%	0.0%	0.0%	0.0%	1.7%	1.7K	-37.9K	-211	0.00	99.30	0	0	1,620	190
2008-01-23	$0.83	$0.00	54.9%	15.7%	61.5%	0.0%	0.0%	0.0%	4.3%	1.7K	-40.1K	-220	0.00	101.14	0	0	1,620	190
2008-01-24	$0.81	$0.00	55.2%	15.8%	61.8%	0.0%	0.0%	0.0%	0.8%	1.6K	-34.2K	-206	0.40	91.25	50	20	1,620	190
2008-01-25	$0.83	$0.00	53.3%	15.3%	62.3%	0.0%	0.0%	0.0%	-0.4%	1.8K	-38.7K	-215	0.00	96.48	0	0	1,670	210
2008-01-28	$0.85	$0.00	49.4%	14.2%	62.4%	28.1%	0.0%	0.0%	15.7%	1.9K	-43.9K	-218	0.00	93.94	0	0	1,670	210
2008-01-29	$0.83	$0.00	50.2%	14.4%	61.6%	29.1%	0.0%	0.0%	12.9%	1.8K	-41.2K	-208	0.00	95.91	0	0	1,670	210
2008-01-30	$0.83	$0.00	52.9%	15.2%	57.6%	32.5%	0.0%	0.0%	8.3%	1.8K	-39.8K	-209	0.00	95.15	0	0	1,670	210
2008-01-31	$0.95	$0.00	47.8%	13.7%	67.6%	26.1%	0.0%	0.0%	0.8%	2.2K	-82.0K	-250	0.00	96.77	40	0	1,670	210