SMCI Options History — September 2008

In September 2008, SMCI traded between $0.85 and $1.07. ATM implied volatility averaged 56.0%, placing in the 37.6% IV rank vs the trailing year. The 30-day expected move averaged 13.2%. IV traded above realized volatility by 10.6% (HV 20d: 45.4%). Max pain ranged from $0.50 to $0.75. Net GEX was positive for 7 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.45.

Notable Days

2008-09-09: Highest Volume — 740 contracts
2008-09-17: Largest IV spike — 166.0% change
2008-09-17: Highest IV Rank — 100.0%
2008-09-29: Largest Expected Move — 25.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.01	$0.85	$1.07	$1.01	$0.90
Max Pain	$0.61	$0.50	$0.75	$0.75	$0.50
ATM IV	56.0%	32.5%	128.8%	40.6%	48.6%
Expected Move	13.2%	9.3%	25.4%	11.6%	13.9%
HV 20d	45.4%	33.1%	65.4%	51.8%	65.4%
HV 60d	39.6%	35.1%	49.8%	35.1%	49.8%
IV Rank	37.6%	8.4%	100.0%	25.8%	22.9%
IV Percentile	50.4%	3.2%	100.0%	19.8%	52.8%
Term Structure	-6.8%	-17.7%	6.1%	6.1%	-17.7%
VWIV	66.5%	33.4%	162.7%	44.4%	162.7%
Bid-Ask Spread %	92.87	49.56	182.55	76.47	84.38
Gamma HHI	0.89	0.56	1.00	0.72	0.87
Net GEX	-1.7K	-4.6K	378	-2.6K	280
Net DEX	-256.4K	-416.5K	-70.6K	-336.9K	-76.4K
Net VEX	-117	-302	-14	-302	-72
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.45	0.00	5.00	0.00	0.00
Total Volume	65.714	0	740	60	0
Total OI	4,180.476	1,170	6,130	6,060	1,170

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
2008-09-02	$1.01	$0.75	40.6%	11.6%	51.8%	25.8%	0.0%	0.0%	6.1%	-2.6K	-336.9K	-302	0.00	76.47	60	0	4,390	1,670
2008-09-03	$1.06	$0.75	45.4%	13.0%	53.2%	33.6%	44.4%	0.0%	-11.3%	-2.3K	-401.3K	-179	0.00	83.60	130	0	4,330	1,670
2008-09-04	$1.05	$0.75	45.2%	12.9%	53.6%	33.3%	0.0%	0.0%	-14.0%	-2.2K	-400.5K	-188	0.00	82.22	0	0	4,460	1,670
2008-09-05	$1.05	$0.75	45.5%	13.1%	33.5%	34.0%	0.0%	0.0%	4.4%	-2.1K	-393.0K	-223	0.00	116.91	0	0	4,460	1,670
2008-09-08	$1.06	$0.75	46.4%	13.3%	33.4%	35.3%	0.0%	0.0%	-17.1%	-2.4K	-416.5K	-139	5.00	56.12	10	50	4,460	1,670
2008-09-09	$1.06	$0.75	49.0%	14.1%	33.4%	39.6%	0.0%	0.0%	-14.4%	-2.2K	-412.6K	-152	0.00	57.14	740	0	4,460	1,670
2008-09-10	$1.07	$0.75	32.5%	9.3%	33.3%	12.6%	0.0%	0.0%	3.9%	-2.0K	-377.7K	-83	0.00	78.73	30	0	3,750	1,670
2008-09-11	$1.07	$0.75	45.7%	13.1%	33.1%	34.3%	58.7%	0.0%	-0.6%	-2.0K	-356.9K	-108	0.00	51.41	0	20	3,750	1,670
2008-09-12	$1.06	$0.75	52.8%	15.1%	34.1%	45.8%	0.0%	0.0%	-17.7%	-2.5K	-343.3K	-113	0.00	49.56	50	0	3,750	1,670
2008-09-15	$0.99	$0.50	58.4%	13.1%	42.4%	54.9%	0.0%	0.0%	0.0%	-3.2K	-258.0K	-164	0.00	104.34	0	0	3,730	1,670
2008-09-16	$1.02	$0.50	48.4%	10.5%	41.6%	38.7%	0.0%	0.0%	0.0%	-4.1K	-306.2K	-110	0.00	104.06	100	0	3,720	1,670
2008-09-17	$0.97	$0.50	128.8%	14.6%	45.1%	100.0%	0.0%	0.0%	0.0%	-1.0K	-229.4K	-155	0.00	123.38	0	0	3,720	1,670
2008-09-18	$0.99	$0.50	60.1%	10.1%	45.2%	34.0%	0.0%	0.0%	0.0%	-4.6K	-233.6K	-90	0.00	104.55	0	0	3,620	1,670
2008-09-19	$1.04	$0.50	128.1%	12.3%	48.6%	99.2%	0.0%	0.0%	0.0%	-3.7K	-325.6K	-64	0.00	109.87	50	0	3,620	1,670
2008-09-22	$1.04	$0.50	39.1%	11.2%	47.8%	13.8%	33.5%	0.0%	0.0%	88	-98.5K	-21	0.00	104.75	40	0	960	210
2008-09-23	$1.03	$0.50	33.5%	9.6%	47.9%	8.4%	33.4%	0.0%	0.0%	66	-98.2K	-14	0.00	103.95	50	0	960	210
2008-09-24	$0.98	$0.50	43.4%	12.4%	47.8%	17.9%	0.0%	0.0%	0.0%	219	-85.9K	-67	0.00	104.98	0	0	960	210
2008-09-25	$0.93	$0.50	47.8%	13.7%	50.3%	22.1%	0.0%	0.0%	0.0%	244	-80.2K	-70	0.00	80.47	0	0	960	210
2008-09-26	$0.94	$0.50	48.2%	13.8%	50.1%	22.6%	0.0%	0.0%	0.0%	239	-82.3K	-64	0.00	90.85	0	0	960	210
2008-09-29	$0.85	$0.50	88.5%	25.4%	61.5%	61.3%	162.7%	0.0%	0.0%	378	-70.6K	-77	0.00	182.55	50	0	960	210
2008-09-30	$0.90	$0.50	48.6%	13.9%	65.4%	22.9%	0.0%	0.0%	0.0%	280	-76.4K	-72	0.00	84.38	0	0	960	210