TRX Options History — July 2007

In July 2007, TRX traded between $11.89 and $14.73. ATM implied volatility averaged 40.0%, placing in the 17.5% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 12.2% (HV 20d: 27.8%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.03.

Notable Days

2007-07-26: Highest Volume — 195 contracts
2007-07-26: Largest IV spike — 46.2% change
2007-07-31: Highest IV Rank — 27.1%
2007-07-31: Largest Expected Move — 14.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.79	$11.89	$14.73	$14.63	$11.89
Max Pain	$14.64	$12.50	$15.00	$12.50	$15.00
ATM IV	40.0%	32.9%	49.5%	38.2%	49.5%
Expected Move	11.5%	9.4%	14.2%	10.9%	14.2%
HV 20d	27.8%	15.7%	42.7%	20.1%	41.5%
HV 60d	32.8%	30.1%	37.5%	30.4%	36.7%
IV Rank	17.5%	10.0%	27.1%	15.2%	27.1%
IV Percentile	50.9%	12.2%	96.5%	32.5%	96.5%
Term Structure	3.0%	-2.8%	17.2%	0.2%	4.4%
VWIV	40.9%	27.3%	67.4%	27.3%	67.4%
Bid-Ask Spread %	81.75	56.17	101.68	90.46	101.68
Gamma HHI	0.45	0.40	0.48	0.45	0.47
Net GEX	9.8K	6.6K	12.3K	11.1K	7.3K
Net DEX	20.5K	-188.8K	352.7K	-177.0K	352.7K
Net VEX	-1.8K	-2.5K	-736	-2.5K	-736
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.03	0.00	0.17	0.00	0.09
Total Volume	31.667	0	195	1	0
Total OI	1,316	1,269	1,413	1,269	1,413

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2007-07-02	$14.63	$12.50	38.2%	10.9%	20.1%	0.0%	0.0%	0.0%	0.2%	11.1K	-177.0K	-2.5K	0.00	90.46	N/A	N/A	1	0	859	410
2007-07-03	$14.51	$12.50	36.9%	10.6%	19.7%	0.0%	0.0%	0.0%	2.4%	10.8K	-145.7K	-2.4K	0.00	91.11	N/A	N/A	0	0	860	410
2007-07-05	$14.59	$12.50	38.0%	10.9%	19.7%	15.2%	0.0%	0.0%	0.4%	11.1K	-156.8K	-2.4K	0.00	94.67	N/A	N/A	0	0	860	410
2007-07-06	$14.71	$15.00	35.4%	11.0%	17.8%	12.5%	0.0%	0.0%	1.5%	11.2K	-176.3K	-2.4K	0.00	80.26	N/A	N/A	0	0	860	410
2007-07-09	$14.73	$15.00	37.7%	11.1%	15.7%	14.9%	0.0%	0.0%	2.1%	11.4K	-188.8K	-2.3K	0.00	87.51	N/A	N/A	2	0	860	410
2007-07-10	$14.48	$15.00	35.9%	11.0%	16.5%	13.0%	0.0%	0.0%	1.8%	10.9K	-111.0K	-2.2K	0.00	80.84	N/A	N/A	0	0	862	410
2007-07-11	$13.85	$15.00	41.7%	11.7%	23.1%	19.0%	27.3%	0.0%	-0.1%	9.2K	56.6K	-1.9K	0.00	75.19	N/A	N/A	71	0	862	410
2007-07-12	$14.00	$15.00	40.6%	11.6%	22.2%	17.8%	0.0%	0.0%	-1.1%	10.7K	-50.9K	-2.0K	0.00	77.23	N/A	N/A	0	10	907	410
2007-07-13	$13.82	$15.00	40.3%	11.6%	21.8%	17.6%	34.4%	0.0%	-1.0%	10.0K	11.9K	-1.9K	0.00	80.97	N/A	N/A	44	0	907	420
2007-07-16	$13.43	$15.00	39.8%	11.4%	23.6%	17.0%	0.0%	0.0%	2.4%	9.0K	129.5K	-1.5K	0.00	71.03	N/A	N/A	0	0	900	420
2007-07-17	$14.03	$15.00	41.9%	12.0%	28.9%	19.2%	42.5%	0.0%	-2.8%	10.2K	-32.8K	-1.9K	0.17	78.91	N/A	N/A	29	5	900	420
2007-07-18	$14.27	$15.00	38.0%	10.9%	29.2%	15.2%	29.2%	0.0%	2.1%	10.7K	-57.2K	-1.9K	0.00	84.66	N/A	N/A	120	0	906	425
2007-07-19	$14.59	$15.00	38.8%	11.1%	30.0%	16.0%	38.8%	0.0%	0.8%	12.3K	-165.9K	-2.0K	0.00	89.16	N/A	N/A	20	0	915	425
2007-07-20	$14.24	$15.00	38.2%	11.0%	31.3%	15.4%	0.0%	0.0%	1.5%	10.4K	-48.6K	-1.9K	0.00	91.55	N/A	N/A	0	0	925	425
2007-07-23	$14.18	$15.00	38.0%	10.9%	31.3%	15.2%	38.1%	0.0%	1.6%	10.3K	-28.9K	-1.8K	0.00	80.57	N/A	N/A	30	0	903	425
2007-07-24	$13.65	$15.00	32.9%	9.4%	34.0%	10.0%	49.1%	0.0%	15.6%	10.2K	79.3K	-1.6K	0.11	67.81	N/A	N/A	90	10	927	425
2007-07-25	$13.27	$15.00	33.6%	9.6%	35.1%	10.7%	0.0%	0.0%	17.2%	7.8K	198.0K	-1.3K	0.00	63.05	N/A	N/A	0	0	872	425
2007-07-26	$12.79	$15.00	49.1%	14.1%	37.0%	26.6%	67.4%	0.0%	4.6%	7.4K	251.7K	-1.2K	0.00	56.17	N/A	N/A	195	0	882	425
2007-07-27	$11.95	$15.00	48.4%	13.9%	42.4%	25.9%	0.0%	0.0%	5.1%	6.6K	344.8K	-816	0.09	85.61	N/A	N/A	35	3	903	425
2007-07-30	$12.00	$15.00	46.7%	13.4%	42.7%	24.2%	0.0%	0.0%	5.2%	7.8K	345.4K	-768	0.00	88.33	N/A	N/A	0	0	991	422
2007-07-31	$11.89	$15.00	49.5%	14.2%	41.5%	27.1%	0.0%	0.0%	4.4%	7.3K	352.7K	-736	0.00	101.68	N/A	N/A	0	0	991	422