TBH Options History — March 2008

In March 2008, TBH traded between $20.31 and $24.23. ATM implied volatility averaged 67.7%, placing in the 29.4% IV rank vs the trailing year. The 30-day expected move averaged 17.6%. IV traded above realized volatility by 12.6% (HV 20d: 55.0%). Max pain ranged from $22.50 to $22.50. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.50.

Notable Days

2008-03-17: Highest Volume — 40 contracts
2008-03-06: Largest IV spike — 153.6% change
2008-03-07: Highest IV Rank — 71.8%
2008-03-06: Largest Expected Move — 35.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.18	$20.31	$24.23	$24.15	$21.70
Max Pain	$22.50	$22.50	$22.50	$22.50	$22.50
ATM IV	67.7%	39.0%	127.5%	47.0%	49.1%
Expected Move	17.6%	11.0%	35.7%	13.5%	14.1%
HV 20d	55.0%	35.3%	69.5%	39.4%	67.7%
HV 60d	50.3%	44.6%	55.4%	45.3%	53.9%
IV Rank	29.4%	8.6%	71.8%	14.1%	16.1%
IV Percentile	70.2%	16.7%	96.4%	50.8%	56.3%
Term Structure	-20.0%	-51.1%	0.5%	-14.6%	-19.6%
VWIV	73.7%	63.9%	83.5%	83.5%	63.9%
Skew 25d	13.2%	-8.5%	63.0%	0.5%	4.1%
Skew 10d	31.1%	8.0%	102.2%	9.6%	15.7%
Call IV 25d	73.8%	47.1%	171.6%	67.4%	70.8%
Put IV 25d	87.0%	51.9%	163.1%	68.0%	74.9%
Bid-Ask Spread %	140.79	127.81	168.63	137.09	134.04
Gamma HHI	0.46	0.28	0.73	0.50	0.32
Net GEX	887	-2.4K	2.1K	2.1K	974
Net DEX	-11.9K	-82.6K	81.4K	-82.0K	-9.9K
Net VEX	-417	-681	-260	-313	-667
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.50	0.00	1.00	0.00	1.00
Total Volume	6.75	0	40	0	0
Total OI	102.5	62	167	62	167

Daily Data (20 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
2008-03-03	$24.15	$0.00	47.0%	13.5%	39.4%	14.1%	0.0%	0.5%	-14.6%	2.1K	-82.0K	-313	0.00	137.09	N/A	N/A	0	0	59	3
2008-03-04	$23.90	$0.00	49.8%	14.3%	39.5%	16.2%	0.0%	1.8%	-21.8%	2.1K	-78.9K	-310	0.00	136.69	N/A	N/A	0	0	59	3
2008-03-05	$24.23	$0.00	49.1%	14.1%	35.3%	15.6%	0.0%	0.1%	-16.5%	2.1K	-82.6K	-311	0.00	137.71	N/A	N/A	0	0	59	3
2008-03-06	$22.20	$0.00	124.5%	35.7%	46.6%	69.6%	0.0%	-8.5%	-51.1%	1.4K	-60.5K	-299	0.00	168.63	N/A	N/A	0	0	59	3
2008-03-07	$22.59	$22.50	127.5%	21.6%	45.9%	71.8%	0.0%	29.3%	-30.6%	1.7K	-61.7K	-302	0.00	160.74	N/A	N/A	0	0	59	3
2008-03-10	$21.67	$22.50	62.6%	11.0%	47.0%	25.3%	0.0%	3.5%	0.5%	2.1K	-47.1K	-274	0.00	131.50	N/A	N/A	0	0	59	3
2008-03-11	$22.75	$22.50	63.8%	11.5%	49.5%	26.1%	0.0%	5.0%	0.5%	2.1K	-62.8K	-289	0.00	129.29	N/A	N/A	0	20	59	3
2008-03-12	$22.84	$22.50	66.7%	11.3%	47.4%	28.2%	0.0%	4.0%	-0.4%	1.4K	-22.7K	-304	0.00	129.81	N/A	N/A	0	10	59	23
2008-03-13	$22.77	$22.50	80.8%	23.2%	47.3%	39.4%	83.5%	31.8%	-33.6%	813	-18.9K	-327	0.00	161.28	N/A	N/A	0	10	59	33
2008-03-14	$21.91	$22.50	39.0%	11.2%	49.1%	8.6%	0.0%	3.0%	-0.1%	364	15.6K	-315	0.00	129.62	N/A	N/A	0	0	59	43
2008-03-17	$21.27	$22.50	48.8%	14.0%	50.0%	15.9%	0.0%	4.4%	-9.8%	260	34.5K	-260	0.00	132.10	N/A	N/A	0	40	59	43
2008-03-18	$22.70	$22.50	87.1%	25.0%	55.7%	44.0%	0.0%	39.8%	-41.9%	-2.4K	40.5K	-593	0.00	160.47	N/A	N/A	0	0	59	83
2008-03-19	$20.31	$22.50	99.4%	28.5%	67.9%	53.0%	0.0%	62.2%	-47.9%	198	81.4K	-487	0.00	154.28	N/A	N/A	0	0	59	83
2008-03-20	$20.76	$22.50	99.7%	28.6%	68.2%	53.3%	0.0%	63.0%	-46.1%	189	79.9K	-497	0.00	162.69	N/A	N/A	0	0	59	83
2008-03-24	$21.34	$22.50	52.3%	15.0%	69.3%	18.4%	0.0%	6.6%	-16.7%	235	23.7K	-487	0.00	128.90	N/A	N/A	0	0	59	53
2008-03-25	$21.45	$22.50	52.7%	15.1%	69.2%	18.7%	0.0%	2.9%	-17.6%	158	24.7K	-483	0.00	128.00	N/A	N/A	15	0	59	53
2008-03-26	$21.83	$22.50	49.7%	14.3%	69.5%	16.5%	0.0%	4.2%	-10.8%	589	-1.9K	-573	0.00	127.81	N/A	N/A	0	0	74	53
2008-03-27	$21.36	$22.50	55.7%	16.0%	67.6%	20.9%	63.9%	2.6%	-11.0%	659	2.8K	-559	1.00	129.90	N/A	N/A	20	20	74	53
2008-03-28	$21.97	$22.50	48.1%	13.8%	68.7%	15.3%	0.0%	4.0%	-11.7%	876	-12.9K	-681	0.00	135.30	N/A	N/A	0	0	94	73
2008-03-31	$21.70	$22.50	49.1%	14.1%	67.7%	16.1%	0.0%	4.1%	-19.6%	974	-9.9K	-667	0.00	134.04	N/A	N/A	0	0	94	73