TDC Options History — January 2016

In January 2016, TDC traded between $22.73 and $26.25. ATM implied volatility averaged 49.5%, placing in the 67.0% IV rank vs the trailing year. The 30-day expected move averaged 14.1%. IV traded above realized volatility by 19.6% (HV 20d: 30.0%). Max pain ranged from $22.50 to $25.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 0 of 19 days. Put/call ratio averaged 0.91.

Notable Days

2016-01-07: Highest Volume — 5,186 contracts
2016-01-11: Largest IV spike — 46.3% change
2016-01-11: Highest IV Rank — 100.0%
2016-01-28: Largest Expected Move — 15.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$23.53	$22.73	$26.25	$26.25	$24.34
Max Pain	$24.47	$22.50	$25.00	$25.00	$22.50
ATM IV	49.5%	37.1%	65.2%	37.1%	51.5%
Expected Move	14.1%	12.4%	15.6%	12.4%	14.8%
HV 20d	30.0%	26.6%	34.3%	32.3%	34.0%
HV 60d	53.0%	52.1%	53.4%	52.1%	53.4%
IV Rank	67.0%	42.9%	100.0%	42.9%	69.5%
IV Percentile	95.0%	73.4%	100.0%	73.4%	96.8%
Term Structure	-8.0%	-11.2%	-4.1%	-4.1%	-9.4%
VWIV	49.8%	44.3%	62.6%	44.5%	62.6%
Skew 25d	3.7%	1.0%	14.7%	1.3%	14.7%
Skew 10d	5.2%	-9.9%	28.0%	3.8%	28.0%
Call IV 25d	47.3%	39.3%	51.3%	44.5%	39.3%
Put IV 25d	51.1%	45.8%	55.9%	45.8%	54.1%
Bid-Ask Spread %	74.60	42.88	96.72	44.03	86.76
Gamma HHI	0.29	0.23	0.59	0.52	0.23
Net GEX	52.7K	-23.4K	528.4K	528.4K	38.1K
Net DEX	7.0M	368.5K	13.4M	6.2M	368.5K
Net VEX	-21.0K	-38.3K	-16.6K	-38.3K	-21.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.91	0.18	2.35	2.25	2.35
Total Volume	2,072.526	114	5,186	1,880	114
Total OI	24,937.421	6,764	41,388	40,417	7,571

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
2016-01-04	$26.25	$25.00	37.1%	12.4%	32.3%	42.9%	44.5%	1.3%	-4.1%	528.4K	6.2M	-38.3K	2.25	44.03	N/A	N/A	579	1,301	33,391	7,026
2016-01-05	$25.55	$25.00	47.2%	12.8%	32.6%	68.7%	44.3%	2.5%	-6.8%	395.4K	10.6M	-29.4K	1.76	42.88	N/A	N/A	667	1,174	33,366	7,028
2016-01-06	$24.45	$25.00	42.4%	13.2%	34.0%	56.4%	46.4%	2.5%	-7.9%	93.6K	13.0M	-21.8K	1.69	54.61	N/A	N/A	907	1,531	33,465	7,025
2016-01-07	$23.76	$25.00	42.8%	13.2%	34.3%	57.4%	48.0%	3.0%	-6.9%	10.6K	13.1M	-20.3K	1.01	61.36	N/A	N/A	2,579	2,607	33,708	7,016
2016-01-08	$23.44	$25.00	44.6%	14.4%	34.1%	62.0%	49.0%	5.1%	-7.6%	1.8K	12.9M	-19.7K	1.07	72.75	N/A	N/A	2,478	2,643	33,826	7,017
2016-01-11	$22.89	$25.00	65.2%	13.6%	33.1%	100.0%	49.3%	1.9%	-7.0%	3.0K	13.4M	-16.6K	0.59	72.59	N/A	N/A	2,395	1,422	33,822	6,963
2016-01-12	$23.04	$25.00	54.0%	13.4%	28.9%	75.1%	49.2%	1.8%	-7.9%	-16.1K	13.1M	-18.3K	0.65	77.90	N/A	N/A	2,364	1,532	33,827	7,471
2016-01-13	$22.73	$25.00	49.4%	14.2%	28.9%	64.7%	49.8%	3.3%	-11.0%	-23.4K	13.0M	-17.0K	0.37	77.01	N/A	N/A	2,343	859	33,838	7,393
2016-01-14	$23.14	$25.00	48.0%	13.8%	30.1%	61.7%	47.8%	1.0%	-9.5%	-10.9K	12.5M	-18.9K	0.18	78.66	N/A	N/A	2,412	436	33,873	7,343
2016-01-15	$22.97	$25.00	47.7%	13.7%	27.7%	60.9%	49.1%	3.0%	-8.1%	-5.7K	12.6M	-18.6K	0.97	76.88	N/A	N/A	720	697	33,994	7,394
2016-01-19	$22.74	$25.00	49.8%	14.3%	26.8%	65.6%	49.3%	4.9%	-7.2%	-17.2K	2.3M	-18.3K	0.61	77.47	N/A	N/A	602	368	3,886	2,878
2016-01-20	$23.29	$25.00	50.8%	14.6%	28.5%	67.8%	49.6%	5.0%	-4.6%	5.1K	1.7M	-20.6K	0.75	85.79	N/A	N/A	575	433	4,015	2,862
2016-01-21	$23.46	$25.00	49.6%	14.2%	28.7%	65.1%	48.9%	3.0%	-5.7%	6.2K	1.3M	-21.0K	0.63	80.92	N/A	N/A	565	356	4,148	2,926
2016-01-22	$23.37	$25.00	49.6%	14.2%	26.6%	65.2%	48.4%	2.3%	-7.7%	2.6K	1.4M	-20.8K	0.62	81.35	N/A	N/A	522	326	4,217	2,967
2016-01-25	$22.73	$25.00	51.1%	14.7%	26.7%	68.6%	50.8%	2.3%	-8.7%	-13.7K	1.8M	-18.8K	0.49	83.97	N/A	N/A	650	320	4,227	2,952
2016-01-26	$22.92	$22.50	52.8%	15.1%	27.2%	72.3%	52.4%	4.8%	-10.2%	-1.9K	1.6M	-19.2K	0.43	82.61	N/A	N/A	702	302	4,374	2,975
2016-01-27	$22.92	$22.50	53.3%	15.3%	27.2%	73.4%	52.7%	3.6%	-10.1%	-1.2K	1.6M	-19.3K	0.42	96.72	N/A	N/A	694	292	4,463	3,049
2016-01-28	$23.17	$22.50	54.6%	15.6%	27.3%	76.3%	53.8%	4.6%	-11.2%	6.2K	1.4M	-20.0K	0.48	83.13	N/A	N/A	615	296	4,465	3,050
2016-01-29	$24.34	$22.50	51.5%	14.8%	34.0%	69.5%	62.6%	14.7%	-9.4%	38.1K	368.5K	-21.7K	2.35	86.76	N/A	N/A	34	80	4,526	3,045