SMCI Options History — June 2008

In June 2008, SMCI traded between $0.70 and $0.78. ATM implied volatility averaged 46.4%, placing in the 24.3% IV rank vs the trailing year. The 30-day expected move averaged 13.4%. IV traded above realized volatility by 26.6% (HV 20d: 19.8%). Max pain ranged from $0.75 to $1.00. Net GEX was positive for 4 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.15.

Notable Days

2008-06-27: Highest Volume — 2,000 contracts
2008-06-11: Largest IV drop — 13.2% change
2008-06-27: Highest IV Rank — 32.2%
2008-06-27: Largest Expected Move — 15.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$0.75	$0.70	$0.78	$0.72	$0.74
Max Pain	$0.82	$0.75	$1.00	$0.75	$0.75
ATM IV	46.4%	37.5%	52.6%	42.8%	51.6%
Expected Move	13.4%	10.8%	15.1%	12.3%	14.8%
HV 20d	19.8%	15.9%	27.2%	16.6%	27.2%
HV 60d	53.6%	51.9%	55.6%	55.5%	51.9%
IV Rank	24.3%	13.2%	32.2%	19.8%	30.9%
IV Percentile	37.0%	8.4%	71.1%	19.2%	65.2%
Term Structure	3.1%	-1.6%	15.2%	6.2%	-0.5%
VWIV	52.1%	51.6%	52.6%	52.6%	51.6%
Bid-Ask Spread %	88.86	67.34	99.12	81.11	70.41
Gamma HHI	0.50	0.36	0.88	0.57	0.88
Net GEX	-261	-733	2.4K	-577	2.4K
Net DEX	12.7K	-67.1K	41.0K	33.6K	-67.1K
Net VEX	-161	-436	-116	-139	-436
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.15	0.00	0.91	0.00	0.00
Total Volume	129.048	0	2,000	0	100
Total OI	3,350	1,190	4,260	3,910	3,390

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
2008-06-02	$0.72	$0.75	42.8%	12.3%	16.6%	19.8%	0.0%	0.0%	6.2%	-577	33.6K	-139	0.00	81.11	0	0	2,890	1,020
2008-06-03	$0.70	$0.75	37.5%	10.8%	18.1%	13.2%	0.0%	0.0%	9.5%	-563	41.0K	-126	0.00	90.41	0	0	2,890	1,020
2008-06-04	$0.72	$0.75	39.5%	11.3%	20.2%	15.6%	0.0%	0.0%	15.2%	-569	33.7K	-137	0.00	92.17	0	0	2,890	1,020
2008-06-05	$0.73	$0.75	43.4%	12.4%	20.0%	20.5%	0.0%	0.0%	4.8%	-650	32.4K	-141	0.00	81.55	0	0	2,890	1,020
2008-06-06	$0.73	$0.00	44.0%	13.3%	19.3%	21.3%	0.0%	0.0%	4.0%	-667	29.2K	-141	0.00	93.56	0	0	2,890	1,020
2008-06-09	$0.74	$0.00	47.1%	13.8%	19.9%	25.2%	0.0%	0.0%	1.1%	-717	29.3K	-136	0.00	92.08	160	0	2,890	1,020
2008-06-10	$0.74	$0.00	49.2%	13.6%	19.8%	27.9%	0.0%	0.0%	2.5%	-581	22.2K	-169	0.00	90.80	0	0	3,050	1,020
2008-06-11	$0.75	$0.00	42.7%	13.4%	20.3%	19.7%	0.0%	0.0%	2.0%	-726	17.1K	-164	0.00	93.21	0	0	3,050	1,020
2008-06-12	$0.75	$0.00	47.2%	13.5%	20.2%	25.3%	0.0%	0.0%	2.5%	-733	16.7K	-164	0.00	89.20	120	0	3,050	1,020
2008-06-13	$0.76	$0.00	45.9%	13.2%	20.4%	23.8%	0.0%	0.0%	2.7%	-348	8.1K	-175	0.00	91.45	0	0	3,150	1,020
2008-06-16	$0.77	$0.00	47.5%	13.6%	20.7%	25.7%	0.0%	0.0%	1.8%	-432	494	-157	0.00	93.23	100	0	3,150	1,020
2008-06-17	$0.76	$0.00	48.3%	13.8%	20.7%	26.7%	0.0%	0.0%	1.0%	-376	1.0K	-169	0.00	93.25	0	0	3,240	1,020
2008-06-18	$0.76	$0.00	48.2%	13.8%	16.9%	26.6%	0.0%	0.0%	0.8%	-413	3.6K	-164	0.00	90.56	0	20	3,240	1,020
2008-06-19	$0.76	$0.00	46.1%	13.2%	16.8%	24.0%	0.0%	0.0%	4.2%	-274	4.0K	-158	0.00	96.37	0	0	3,240	1,000
2008-06-20	$0.76	$0.00	46.9%	13.4%	16.8%	24.9%	0.0%	0.0%	3.5%	-278	4.2K	-155	0.00	96.37	0	0	3,240	1,000
2008-06-23	$0.76	$0.00	47.7%	13.7%	16.6%	26.0%	0.0%	0.0%	2.4%	3	10.8K	-131	0.00	94.57	0	0	640	550
2008-06-24	$0.76	$0.00	46.8%	13.4%	15.9%	24.8%	0.0%	0.0%	3.8%	2	10.9K	-131	0.00	99.12	0	0	640	550
2008-06-25	$0.78	$0.00	47.2%	13.5%	18.7%	25.3%	0.0%	0.0%	0.6%	-17	10.5K	-134	0.00	96.18	0	0	640	550
2008-06-26	$0.76	$1.00	51.4%	14.7%	23.1%	30.6%	0.0%	0.0%	-0.7%	-4	11.4K	-128	0.91	67.34	110	100	640	550
2008-06-27	$0.73	$1.00	52.6%	15.1%	26.9%	32.2%	52.6%	0.0%	-1.6%	29	14.5K	-116	0.00	73.04	2,000	0	640	550
2008-06-30	$0.74	$0.75	51.6%	14.8%	27.2%	30.9%	51.6%	0.0%	-0.5%	2.4K	-67.1K	-436	0.00	70.41	100	0	2,740	650