TDC Options History — November 2008

In November 2008, TDC traded between $11.46 and $16.65. ATM implied volatility averaged 68.9%, placing in the 50.6% IV rank vs the trailing year. The 30-day expected move averaged 19.6%. IV traded below realized volatility by 12.7% (HV 20d: 81.5%). Max pain ranged from $12.50 to $17.50. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 0.90.

Notable Days

2008-11-04: Highest Volume — 529 contracts
2008-11-12: Largest IV spike — 52.3% change
2008-11-12: Highest IV Rank — 66.7%
2008-11-20: Largest Expected Move — 23.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.38	$11.46	$16.65	$15.31	$13.43
Max Pain	$14.87	$12.50	$17.50	$17.50	$12.50
ATM IV	68.9%	53.3%	82.6%	74.4%	71.7%
Expected Move	19.6%	15.3%	23.2%	21.3%	20.6%
HV 20d	81.5%	73.5%	89.8%	81.8%	73.5%
HV 60d	72.2%	65.5%	76.0%	65.5%	75.6%
IV Rank	50.6%	32.2%	66.7%	57.5%	53.9%
IV Percentile	89.9%	80.2%	98.4%	93.3%	90.1%
Term Structure	-0.8%	-13.2%	23.6%	-10.1%	-0.3%
VWIV	59.9%	52.7%	73.1%	73.1%	58.5%
Skew 25d	9.4%	-6.2%	29.8%	6.6%	12.6%
Skew 10d	17.9%	-5.8%	42.3%	34.6%	33.3%
Call IV 25d	62.0%	48.1%	74.2%	73.3%	61.7%
Put IV 25d	71.3%	44.9%	82.5%	80.0%	74.3%
Bid-Ask Spread %	46.95	24.90	68.09	27.66	67.26
Gamma HHI	0.31	0.17	0.47	0.42	0.20
Net GEX	13.9K	-11.1K	78.1K	51.6K	7.7K
Net DEX	1.2M	-185.4K	1.7M	471.2K	1.0M
Net VEX	-7.2K	-17.2K	-3.8K	-13.3K	-5.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.90	0.00	4.81	0.03	0.00
Total Volume	108.053	0	529	345	10
Total OI	12,230.632	11,568	13,023	12,871	11,600

Daily Data (19 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
2008-11-03	$15.31	$17.50	74.4%	21.3%	81.8%	57.5%	73.1%	6.6%	-10.1%	51.6K	471.2K	-13.3K	0.03	27.66	N/A	N/A	336	9	10,969	1,902
2008-11-04	$16.65	$17.50	53.3%	15.3%	86.1%	32.2%	52.7%	15.5%	-4.0%	78.1K	-185.4K	-17.2K	0.34	24.90	N/A	N/A	394	135	10,944	1,907
2008-11-05	$15.49	$17.50	55.0%	15.8%	88.4%	34.2%	58.1%	-1.9%	5.7%	60.0K	274.2K	-14.0K	2.14	45.13	N/A	N/A	84	180	10,857	1,927
2008-11-06	$14.51	$17.50	59.1%	16.9%	89.8%	39.0%	59.0%	-6.2%	0.4%	36.4K	945.1K	-11.5K	0.67	67.71	N/A	N/A	15	10	10,938	2,085
2008-11-07	$14.48	$15.00	65.1%	16.6%	88.2%	46.2%	0.0%	10.9%	0.8%	31.6K	968.4K	-10.5K	0.50	39.00	N/A	N/A	20	10	10,953	1,962
2008-11-10	$14.27	$15.00	69.3%	16.2%	82.0%	51.0%	0.0%	9.5%	6.6%	20.5K	1.2M	-8.7K	0.00	42.02	N/A	N/A	20	0	10,131	1,952
2008-11-11	$13.33	$15.00	54.2%	20.8%	84.5%	33.3%	0.0%	5.4%	-5.4%	8.8K	1.5M	-6.4K	4.81	47.59	N/A	N/A	52	250	10,141	1,952
2008-11-12	$12.60	$15.00	82.6%	21.2%	86.0%	66.7%	0.0%	29.8%	-2.0%	1.8K	1.5M	-6.3K	0.00	42.86	N/A	N/A	28	0	10,169	2,132
2008-11-13	$12.82	$15.00	69.9%	20.0%	79.4%	51.8%	0.0%	12.6%	-4.3%	-10.8K	1.6M	-4.9K	0.00	34.58	N/A	N/A	10	0	10,194	1,975
2008-11-14	$12.01	$15.00	71.1%	20.4%	81.0%	53.2%	0.0%	-6.0%	-3.4%	-7.6K	1.6M	-4.1K	0.00	47.05	N/A	N/A	0	0	10,204	1,930
2008-11-17	$12.47	$15.00	70.2%	20.1%	83.1%	52.2%	0.0%	18.3%	0.2%	-9.2K	1.6M	-4.1K	0.23	58.70	N/A	N/A	43	10	10,204	1,911
2008-11-18	$12.41	$15.00	76.4%	21.9%	82.3%	59.4%	0.0%	13.9%	-3.6%	-11.1K	1.6M	-4.1K	0.37	33.91	N/A	N/A	57	21	10,212	1,921
2008-11-19	$11.77	$15.00	80.1%	23.0%	77.1%	63.8%	0.0%	5.7%	-13.2%	-11.0K	1.6M	-3.8K	2.09	35.38	N/A	N/A	70	146	10,165	1,940
2008-11-20	$11.46	$15.00	80.8%	23.2%	76.4%	64.6%	0.0%	15.2%	-7.2%	1.9K	1.7M	-3.8K	0.00	44.87	N/A	N/A	81	0	10,200	2,046
2008-11-21	$12.06	$12.50	75.8%	21.7%	79.7%	58.7%	0.0%	5.9%	0.0%	1.1K	1.7M	-4.1K	3.33	52.92	N/A	N/A	3	10	10,255	1,963
2008-11-24	$12.49	$12.50	66.8%	19.1%	80.8%	48.1%	0.0%	7.4%	4.3%	3.3K	1.2M	-4.7K	0.00	59.07	N/A	N/A	5	0	9,973	1,610
2008-11-25	$13.20	$12.50	74.3%	21.3%	74.5%	57.0%	57.8%	12.3%	-3.8%	5.3K	1.1M	-5.0K	1.67	53.28	N/A	N/A	12	20	9,978	1,590
2008-11-26	$13.51	$12.50	58.8%	16.9%	74.7%	38.7%	58.5%	10.5%	23.6%	5.6K	1.1M	-5.3K	0.00	68.09	N/A	N/A	12	0	9,990	1,600
2008-11-28	$13.43	$12.50	71.7%	20.6%	73.5%	53.9%	0.0%	12.6%	-0.3%	7.7K	1.0M	-5.6K	0.00	67.26	N/A	N/A	10	0	10,000	1,600