SMCI Options History — April 2008

In April 2008, SMCI traded between $0.68 and $0.95. ATM implied volatility averaged 49.1%, placing in the 27.8% IV rank vs the trailing year. The 30-day expected move averaged 14.7%. IV traded below realized volatility by 23.7% (HV 20d: 72.8%). Max pain ranged from $0.75 to $1.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.28.

Notable Days

2008-04-10: Highest Volume — 770 contracts
2008-04-10: Largest IV spike — 57.3% change
2008-04-15: Highest IV Rank — 38.0%
2008-04-15: Largest Expected Move — 16.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$0.79	$0.68	$0.95	$0.85	$0.75
Max Pain	$0.83	$0.75	$1.00	$1.00	$0.75
ATM IV	49.1%	33.8%	57.3%	43.0%	52.1%
Expected Move	14.7%	10.8%	16.4%	12.3%	14.9%
HV 20d	72.8%	37.3%	89.6%	38.1%	89.0%
HV 60d	57.0%	44.9%	64.2%	45.3%	56.0%
IV Rank	27.8%	8.5%	38.0%	20.0%	31.5%
IV Percentile	53.7%	5.2%	84.4%	21.2%	62.8%
Term Structure	1.6%	-3.2%	12.7%	12.7%	2.4%
VWIV	53.2%	53.2%	53.2%	53.2%	53.2%
Bid-Ask Spread %	94.65	83.79	108.51	107.59	99.57
Gamma HHI	0.82	0.58	0.97	0.94	0.58
Net GEX	1.6K	611	3.5K	2.3K	684
Net DEX	-9.2K	-76.9K	22.5K	-30.4K	17.6K
Net VEX	-369	-549	-214	-464	-320
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.28	0.00	1.67	0.00	1.67
Total Volume	68.636	0	770	0	0
Total OI	3,384.545	2,900	3,940	2,900	3,940

Daily Data (22 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
2008-04-01	$0.85	$1.00	43.0%	12.3%	38.1%	20.0%	0.0%	0.0%	12.7%	2.3K	-30.4K	-464	0.00	107.59	0	0	2,330	570
2008-04-02	$0.85	$1.00	43.5%	12.5%	37.3%	20.7%	0.0%	0.0%	11.3%	2.3K	-29.6K	-448	0.00	108.28	0	0	2,330	570
2008-04-03	$0.90	$1.00	37.7%	10.8%	42.5%	13.4%	0.0%	0.0%	10.2%	2.8K	-52.5K	-513	0.00	108.51	0	0	2,330	570
2008-04-04	$0.93	$0.00	33.8%	14.2%	44.6%	8.5%	0.0%	0.0%	-2.2%	3.2K	-67.1K	-532	0.00	86.04	0	0	2,330	570
2008-04-07	$0.95	$0.00	45.7%	14.1%	44.8%	23.5%	0.0%	0.0%	-1.4%	3.4K	-76.4K	-545	0.00	85.92	50	0	2,330	570
2008-04-08	$0.95	$0.00	37.2%	14.5%	40.4%	12.7%	0.0%	0.0%	-3.2%	3.5K	-76.9K	-545	0.00	84.62	40	0	2,340	570
2008-04-09	$0.94	$0.00	34.5%	14.0%	37.9%	9.3%	0.0%	0.0%	0.4%	3.4K	-76.5K	-549	0.00	86.49	0	0	2,380	570
2008-04-10	$0.76	$0.00	54.3%	15.6%	84.0%	34.3%	0.0%	0.0%	0.6%	1.4K	-72	-304	0.33	85.52	580	190	2,380	570
2008-04-11	$0.74	$0.00	56.0%	16.1%	83.2%	36.5%	0.0%	0.0%	-1.5%	1.1K	9.7K	-313	0.00	83.79	40	0	2,590	760
2008-04-14	$0.73	$0.00	54.3%	15.6%	83.1%	34.3%	0.0%	0.0%	-0.8%	1.0K	10.9K	-295	0.00	94.09	0	0	2,630	760
2008-04-15	$0.68	$0.00	57.3%	16.4%	85.7%	38.0%	0.0%	0.0%	-1.8%	611	22.5K	-214	0.00	95.56	50	0	2,630	760
2008-04-16	$0.70	$0.00	52.5%	15.1%	87.5%	32.0%	0.0%	0.0%	1.7%	824	17.7K	-246	0.00	98.93	0	0	2,680	760
2008-04-17	$0.73	$0.00	53.6%	15.4%	88.9%	33.4%	0.0%	0.0%	4.6%	1.1K	7.0K	-313	0.00	95.15	100	0	2,680	760
2008-04-18	$0.75	$0.00	55.0%	15.8%	89.6%	35.1%	0.0%	0.0%	0.7%	1.4K	134	-325	0.00	93.91	0	0	2,780	760
2008-04-21	$0.74	$0.00	53.1%	15.2%	89.6%	32.8%	53.2%	0.0%	1.4%	1.2K	8.8K	-289	1.67	94.70	60	100	2,720	760
2008-04-22	$0.73	$0.00	54.0%	15.5%	89.3%	33.9%	0.0%	0.0%	-1.1%	1.2K	9.3K	-281	0.00	95.09	0	300	2,720	760
2008-04-23	$0.74	$0.75	52.2%	15.0%	89.3%	31.6%	0.0%	0.0%	-0.9%	625	22.0K	-329	0.00	94.75	0	0	2,780	1,160
2008-04-24	$0.74	$0.75	53.1%	15.2%	89.3%	32.8%	0.0%	0.0%	0.7%	623	21.7K	-326	0.00	94.69	0	0	2,780	1,160
2008-04-25	$0.74	$0.75	52.8%	15.1%	89.2%	32.3%	0.0%	0.0%	1.6%	616	21.7K	-323	0.00	94.16	0	0	2,780	1,160
2008-04-28	$0.75	$0.75	53.2%	15.2%	89.3%	32.9%	0.0%	0.0%	-0.9%	644	19.6K	-322	0.00	98.30	0	0	2,780	1,160
2008-04-29	$0.76	$0.75	52.3%	15.0%	89.0%	31.8%	0.0%	0.0%	1.3%	677	17.8K	-331	0.00	96.71	0	0	2,780	1,160
2008-04-30	$0.75	$0.75	52.1%	14.9%	89.0%	31.5%	0.0%	0.0%	2.4%	684	17.6K	-320	0.00	99.57	0	0	2,780	1,160