TDC Options History — February 2009

In February 2009, TDC traded between $13.02 and $15.46. ATM implied volatility averaged 55.0%, placing in the 34.2% IV rank vs the trailing year. The 30-day expected move averaged 15.6%. IV traded above realized volatility by 6.6% (HV 20d: 48.3%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 14.32.

Notable Days

2009-02-06: Highest Volume — 4,288 contracts
2009-02-12: Largest IV drop — 24.5% change
2009-02-03: Highest IV Rank — 55.6%
2009-02-03: Largest Expected Move — 21.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$14.08	$13.02	$15.46	$13.02	$15.46
Max Pain	$14.74	$12.50	$15.00	$15.00	$15.00
ATM IV	55.0%	43.3%	73.1%	72.8%	46.1%
Expected Move	15.6%	12.4%	21.0%	20.9%	13.2%
HV 20d	48.3%	43.8%	54.4%	44.7%	50.7%
HV 60d	54.6%	52.1%	59.1%	59.1%	52.1%
IV Rank	34.2%	20.4%	55.6%	55.2%	23.7%
IV Percentile	63.7%	43.7%	90.1%	90.1%	48.8%
Term Structure	-2.3%	-10.2%	4.5%	-9.6%	1.0%
VWIV	49.5%	43.4%	72.4%	72.4%	43.4%
Skew 25d	8.5%	-2.5%	19.4%	15.5%	9.8%
Skew 10d	19.9%	-7.4%	37.1%	31.1%	28.4%
Call IV 25d	50.2%	40.9%	69.8%	63.0%	42.4%
Put IV 25d	58.6%	43.9%	79.5%	78.5%	52.2%
Bid-Ask Spread %	36.16	25.45	65.71	37.59	65.71
Gamma HHI	0.63	0.30	0.95	0.31	0.69
Net GEX	80.6K	-97.3K	389.5K	3.6K	-88.3K
Net DEX	-294.3K	-4.3M	2.0M	356.7K	689.5K
Net VEX	-5.3K	-8.8K	-2.4K	-2.4K	-7.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	14.32	0.00	203.00	10.00	5.00
Total Volume	468.895	0	4,288	11	18
Total OI	5,410.263	2,013	9,245	2,013	5,431

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
2009-02-02	$13.02	$15.00	72.8%	20.9%	44.7%	55.2%	72.4%	15.5%	-9.6%	3.6K	356.7K	-2.4K	10.00	37.59	N/A	N/A	1	10	1,241	772
2009-02-03	$13.26	$15.00	73.1%	21.0%	45.3%	55.6%	0.0%	19.4%	-8.9%	3.5K	345.7K	-2.4K	0.00	39.14	N/A	N/A	0	0	1,241	782
2009-02-04	$13.39	$15.00	70.8%	20.3%	45.7%	52.9%	0.0%	5.9%	-10.2%	3.8K	317.1K	-2.5K	0.00	28.41	N/A	N/A	1	0	1,241	782
2009-02-05	$13.12	$15.00	69.6%	20.0%	45.8%	51.4%	0.0%	-1.0%	-7.0%	3.5K	345.3K	-2.4K	1.42	30.60	N/A	N/A	60	85	1,241	782
2009-02-06	$13.35	$15.00	59.4%	17.7%	44.6%	39.3%	0.0%	9.4%	-2.2%	4.0K	329.5K	-2.6K	0.00	28.20	N/A	N/A	4,286	2	1,301	832
2009-02-09	$13.46	$15.00	62.0%	17.1%	43.8%	42.5%	0.0%	7.8%	-0.4%	138.4K	-1.2M	-4.7K	1.00	28.30	N/A	N/A	20	20	5,489	834
2009-02-10	$13.05	$15.00	63.5%	17.2%	44.2%	44.3%	0.0%	19.0%	-4.3%	118.2K	-944.1K	-4.4K	0.35	29.57	N/A	N/A	31	11	5,509	834
2009-02-11	$13.16	$15.00	67.7%	17.7%	44.5%	49.2%	0.0%	-2.5%	-6.0%	110.7K	-799.7K	-4.0K	0.15	26.68	N/A	N/A	200	30	5,540	844
2009-02-12	$14.14	$15.00	51.1%	14.6%	49.6%	29.6%	52.1%	9.3%	-2.2%	213.2K	-2.3M	-5.5K	0.81	27.25	N/A	N/A	297	240	5,632	874
2009-02-13	$15.12	$12.50	44.8%	12.8%	54.3%	22.2%	47.7%	2.7%	1.5%	315.7K	-4.3M	-5.8K	0.75	54.59	N/A	N/A	341	255	5,581	1,104
2009-02-17	$14.44	$12.50	46.8%	13.4%	54.4%	24.5%	46.5%	7.0%	-1.3%	389.5K	-2.7M	-5.4K	203.00	29.15	N/A	N/A	10	2,030	5,814	1,339
2009-02-18	$14.60	$15.00	45.8%	13.1%	49.7%	23.4%	45.6%	8.3%	0.6%	303.6K	-1.3M	-8.8K	3.10	31.71	N/A	N/A	20	62	5,814	3,369
2009-02-19	$14.45	$15.00	46.2%	13.2%	49.3%	23.8%	0.0%	6.8%	0.4%	171.9K	-39.6K	-7.6K	0.00	35.56	N/A	N/A	0	0	5,814	3,431
2009-02-20	$14.44	$15.00	45.7%	13.1%	48.4%	23.3%	0.0%	6.2%	-0.2%	205.2K	-235.2K	-7.6K	0.00	37.50	N/A	N/A	20	0	5,814	3,411
2009-02-23	$14.04	$15.00	47.8%	13.7%	48.8%	25.7%	0.0%	4.9%	-1.4%	-80.3K	2.0M	-6.3K	0.00	40.49	N/A	N/A	0	0	1,477	3,234
2009-02-24	$14.64	$15.00	44.0%	12.6%	50.9%	21.2%	44.0%	8.8%	0.5%	-94.0K	1.7M	-6.4K	2.55	49.07	N/A	N/A	200	510	1,477	3,234
2009-02-25	$14.93	$15.00	44.0%	12.6%	51.3%	21.3%	44.0%	12.3%	1.9%	-97.3K	1.4M	-7.4K	0.00	42.08	N/A	N/A	48	0	1,627	3,689
2009-02-26	$15.42	$15.00	43.3%	12.4%	52.3%	20.4%	43.4%	11.1%	4.5%	-94.3K	809.6K	-7.4K	0.98	25.45	N/A	N/A	51	50	1,675	3,689
2009-02-27	$15.46	$15.00	46.1%	13.2%	50.7%	23.7%	0.0%	9.8%	1.0%	-88.3K	689.5K	-7.2K	5.00	65.71	N/A	N/A	3	15	1,692	3,739