TRX Options History — July 2008

In July 2008, TRX traded between $1.14 and $2.71. ATM implied volatility averaged 122.3%, placing in the 55.4% IV rank vs the trailing year. The 30-day expected move averaged 34.2%. IV traded below realized volatility by 50.9% (HV 20d: 173.2%). Max pain ranged from $2.50 to $7.50. Net GEX was positive for 14 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 0.53.

Notable Days

2008-07-02: Highest Volume — 70 contracts
2008-07-09: Largest IV spike — 82.2% change
2008-07-09: Highest IV Rank — 100.0%
2008-07-15: Largest Expected Move — 43.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.67	$1.14	$2.71	$2.71	$1.39
Max Pain	$2.73	$2.50	$7.50	$7.50	$2.50
ATM IV	122.3%	71.8%	199.7%	98.6%	141.9%
Expected Move	34.2%	20.6%	43.8%	28.3%	40.7%
HV 20d	173.2%	99.7%	205.9%	173.4%	203.8%
HV 60d	148.8%	121.0%	163.9%	121.0%	163.8%
IV Rank	55.4%	21.8%	100.0%	48.8%	64.7%
IV Percentile	90.0%	48.8%	100.0%	86.5%	96.8%
Term Structure	-25.2%	-81.8%	26.3%	-45.9%	-12.0%
VWIV	102.6%	80.4%	133.4%	133.4%	93.9%
Bid-Ask Spread %	36.74	9.22	107.11	64.97	12.40
Gamma HHI	0.75	0.36	1.00	0.36	0.84
Net GEX	67	-8	305	305	46
Net DEX	9.3K	-1.4K	15.4K	-1.4K	7.1K
Net VEX	-32	-102	-1	-102	-35
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.53	0.00	2.00	2.00	0.00
Total Volume	11.909	0	70	30	0
Total OI	737.136	682	768	698	766

Daily Data (22 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
2008-07-01	$2.71	$7.50	98.6%	28.3%	173.4%	48.8%	133.4%	0.0%	-45.9%	305	-1.4K	-102	2.00	64.97	N/A	N/A	10	20	595	103
2008-07-02	$2.51	$2.50	85.4%	24.5%	174.5%	38.9%	80.4%	0.0%	13.0%	287	4.1K	-70	1.69	66.92	N/A	N/A	26	44	605	93
2008-07-03	$2.29	$2.50	98.2%	28.1%	108.2%	48.4%	0.0%	0.0%	-27.8%	182	8.4K	-75	0.00	49.45	N/A	N/A	0	20	631	137
2008-07-07	$2.22	$2.50	81.6%	27.1%	99.7%	36.1%	93.9%	0.0%	-5.4%	170	8.2K	-67	1.09	47.25	N/A	N/A	11	12	631	122
2008-07-08	$2.19	$2.50	109.6%	25.5%	99.8%	56.9%	0.0%	0.0%	26.3%	170	5.8K	-68	0.00	54.41	N/A	N/A	0	0	630	111
2008-07-09	$1.48	$2.50	199.7%	40.4%	159.6%	100.0%	0.0%	0.0%	-63.8%	2	15.1K	-12	0.00	107.11	N/A	N/A	0	0	630	111
2008-07-10	$1.32	$2.50	139.0%	39.9%	161.0%	63.6%	0.0%	0.0%	-20.6%	-3	14.1K	-5	0.00	13.46	N/A	N/A	0	0	630	111
2008-07-11	$1.45	$2.50	130.4%	37.4%	162.9%	58.5%	0.0%	0.0%	-31.0%	-4	15.4K	-6	0.00	54.01	N/A	N/A	3	0	630	111
2008-07-14	$1.22	$2.50	112.0%	32.1%	164.9%	47.4%	0.0%	0.0%	-28.8%	-5	13.4K	-2	0.00	12.61	N/A	N/A	0	20	628	111
2008-07-15	$1.19	$2.50	152.9%	43.8%	157.1%	71.9%	0.0%	0.0%	-76.0%	-5	10.0K	-2	0.00	11.96	N/A	N/A	0	0	628	85
2008-07-16	$1.14	$2.50	152.4%	43.7%	157.4%	71.6%	0.0%	0.0%	-81.8%	-3	9.5K	-1	0.00	9.22	N/A	N/A	0	0	628	84
2008-07-17	$1.36	$2.50	118.8%	34.1%	179.7%	51.5%	0.0%	0.0%	-28.2%	-7	11.2K	-3	0.00	13.55	N/A	N/A	0	0	628	84
2008-07-18	$1.42	$2.50	143.9%	41.2%	182.7%	66.5%	0.0%	0.0%	-67.1%	-8	11.7K	-3	0.00	15.58	N/A	N/A	0	0	628	84
2008-07-21	$1.73	$2.50	109.4%	31.4%	203.2%	45.9%	0.0%	0.0%	-13.5%	-2	13.4K	-10	0.00	54.41	N/A	N/A	60	0	598	84
2008-07-22	$1.74	$2.50	119.1%	34.1%	203.9%	51.7%	0.0%	0.0%	-19.2%	34	10.7K	-28	0.00	51.83	N/A	N/A	19	0	648	84
2008-07-23	$1.72	$2.50	128.2%	36.8%	204.2%	57.1%	0.0%	0.0%	-29.1%	53	9.5K	-37	0.00	55.68	N/A	N/A	12	0	667	84
2008-07-24	$1.64	$2.50	120.0%	34.4%	200.6%	52.0%	0.0%	0.0%	-39.1%	59	8.1K	-41	0.00	53.25	N/A	N/A	1	0	677	84
2008-07-25	$1.70	$2.50	71.8%	20.6%	200.4%	21.8%	0.0%	0.0%	22.6%	60	8.2K	-43	0.00	18.46	N/A	N/A	0	0	678	84
2008-07-28	$1.46	$2.50	126.0%	36.1%	204.3%	55.0%	0.0%	0.0%	-7.3%	50	7.8K	-35	0.00	15.70	N/A	N/A	4	0	678	84
2008-07-29	$1.51	$2.50	133.4%	38.2%	205.9%	59.5%	0.0%	0.0%	-3.2%	53	8.1K	-36	0.00	14.24	N/A	N/A	0	0	682	84
2008-07-30	$1.35	$2.50	117.8%	33.8%	203.3%	49.9%	0.0%	0.0%	-17.3%	44	7.3K	-32	0.00	11.92	N/A	N/A	0	0	682	84
2008-07-31	$1.39	$2.50	141.9%	40.7%	203.8%	64.7%	0.0%	0.0%	-12.0%	46	7.1K	-35	0.00	12.40	N/A	N/A	0	0	682	84