TRX Options History — August 2012

In August 2012, TRX traded between $4.07 and $4.61. ATM implied volatility averaged 49.3%, placing in the 13.8% IV rank vs the trailing year. The 30-day expected move averaged 15.7%. IV traded above realized volatility by 13.8% (HV 20d: 35.5%). Max pain ranged from $4.00 to $4.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 19 of 23 days. Put/call ratio averaged 9.91.

Notable Days

2012-08-01: Highest Volume — 881 contracts
2012-08-17: Largest IV spike — 33.9% change
2012-08-03: Highest IV Rank — 23.3%
2012-08-06: Largest Expected Move — 19.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.34	$4.07	$4.61	$4.14	$4.43
Max Pain	$4.00	$4.00	$4.00	$4.00	$4.00
ATM IV	49.3%	37.6%	63.0%	58.6%	44.6%
Expected Move	15.7%	11.6%	19.1%	16.8%	12.8%
HV 20d	35.5%	31.2%	40.5%	39.0%	38.7%
HV 60d	50.1%	46.7%	57.3%	57.3%	47.6%
IV Rank	13.8%	5.6%	23.3%	20.2%	10.5%
IV Percentile	13.4%	1.2%	37.7%	27.8%	7.1%
Term Structure	7.8%	-8.8%	32.6%	4.6%	31.5%
VWIV	55.2%	40.1%	63.9%	58.7%	44.6%
Skew 25d	17.1%	-18.6%	60.5%	-0.1%	31.0%
Skew 10d	24.7%	-23.4%	105.2%	-0.3%	24.7%
Call IV 25d	44.6%	28.0%	74.6%	58.9%	32.8%
Put IV 25d	61.7%	35.6%	94.8%	58.7%	63.8%
Bid-Ask Spread %	50.76	18.23	101.00	25.36	95.46
Gamma HHI	0.95	0.51	1.00	0.91	0.51
Net GEX	3.0K	1.2K	12.7K	1.3K	5.7K
Net DEX	-1.3K	-110.8K	39.6K	14.5K	39.6K
Net VEX	114	0	311	36	220
P/C Ratio	9.91	0.00	219.25	219.25	0.32
Total Volume	217.652	4	881	881	146
Total OI	11,792.913	10,509	13,065	10,509	13,065

Daily Data (23 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
2012-08-01	$4.14	$4.00	58.6%	16.8%	39.0%	20.2%	58.7%	-0.1%	4.6%	1.3K	14.5K	36	219.25	25.36	N/A	N/A	4	877	7,922	2,587
2012-08-02	$4.07	$4.00	56.0%	16.0%	38.8%	18.4%	56.7%	7.1%	7.6%	12.7K	-110.8K	311	0.00	22.36	N/A	N/A	7	0	7,926	3,464
2012-08-03	$4.12	$4.00	63.0%	18.1%	39.1%	23.3%	63.9%	9.6%	2.3%	11.6K	-99.7K	296	0.00	30.05	N/A	N/A	207	0	7,933	3,464
2012-08-06	$4.24	$4.00	49.7%	19.1%	40.5%	14.0%	0.0%	20.9%	0.2%	1.2K	2.9K	97	0.00	64.78	N/A	N/A	203	0	7,895	3,464
2012-08-07	$4.33	$4.00	41.5%	18.1%	37.4%	8.4%	0.0%	60.5%	2.8%	1.5K	5.0K	92	0.01	42.54	N/A	N/A	221	3	8,005	3,464
2012-08-08	$4.31	$4.00	39.3%	16.4%	36.7%	6.8%	0.0%	34.5%	4.1%	1.5K	5.3K	92	0.00	46.72	N/A	N/A	50	0	8,141	3,467
2012-08-09	$4.30	$4.00	41.9%	18.0%	36.6%	8.6%	62.6%	30.1%	-0.4%	1.3K	4.9K	91	0.04	41.99	N/A	N/A	68	3	8,191	3,467
2012-08-10	$4.31	$4.00	37.6%	18.2%	36.0%	5.6%	0.0%	29.7%	-2.4%	1.4K	7.8K	96	0.00	40.35	N/A	N/A	40	0	8,201	3,470
2012-08-13	$4.33	$4.00	45.9%	16.4%	34.6%	11.4%	0.0%	21.5%	6.1%	1.6K	9.8K	89	0.32	100.24	N/A	N/A	28	9	8,232	3,470
2012-08-14	$4.25	$4.00	49.6%	15.9%	35.1%	14.0%	0.0%	20.3%	5.3%	1.6K	7.6K	91	0.00	62.38	N/A	N/A	45	0	8,250	3,474
2012-08-15	$4.30	$4.00	52.0%	16.5%	34.6%	15.6%	57.5%	53.8%	3.2%	1.6K	8.8K	89	3.39	58.32	N/A	N/A	31	105	8,295	3,474
2012-08-16	$4.47	$4.00	43.7%	12.5%	36.9%	9.9%	0.0%	5.0%	15.9%	1.3K	35.8K	0	0.01	44.96	N/A	N/A	141	2	8,268	3,424
2012-08-17	$4.44	$4.00	58.5%	16.8%	36.1%	20.1%	0.0%	32.2%	5.6%	1.5K	14.7K	84	0.54	59.84	N/A	N/A	212	115	8,396	3,423
2012-08-20	$4.33	$4.00	58.9%	16.9%	32.1%	20.4%	60.1%	27.0%	3.0%	1.5K	13.0K	80	0.15	43.67	N/A	N/A	670	100	8,447	2,515
2012-08-21	$4.46	$4.00	48.9%	14.0%	31.5%	13.5%	53.0%	21.2%	16.8%	2.9K	7.6K	104	0.52	20.01	N/A	N/A	67	35	9,117	2,615
2012-08-22	$4.61	$4.00	51.9%	14.9%	31.9%	15.6%	0.0%	22.1%	32.6%	1.9K	5.8K	120	0.51	46.18	N/A	N/A	86	44	9,118	2,635
2012-08-23	$4.54	$4.00	44.2%	12.7%	31.2%	10.3%	0.0%	2.4%	24.6%	2.3K	7.5K	109	0.05	37.33	N/A	N/A	400	21	9,194	2,637
2012-08-24	$4.59	$4.00	52.7%	15.1%	31.3%	16.1%	0.0%	-14.3%	0.2%	3.4K	16.5K	69	0.00	42.55	N/A	N/A	4	0	9,413	2,650
2012-08-27	$4.42	$4.00	40.4%	11.6%	34.4%	7.6%	0.0%	-18.6%	11.1%	2.4K	430	113	0.00	18.23	N/A	N/A	593	0	9,417	2,650
2012-08-28	$4.36	$4.00	42.7%	12.3%	34.6%	9.2%	0.0%	-14.1%	16.5%	2.4K	-4.3K	116	2.50	41.62	N/A	N/A	4	10	9,995	2,650
2012-08-29	$4.22	$4.00	53.3%	15.3%	35.3%	16.6%	0.0%	-17.5%	-8.8%	2.7K	-10.9K	115	0.20	101.00	N/A	N/A	50	10	9,991	2,660
2012-08-30	$4.21	$4.00	59.5%	17.1%	34.7%	20.8%	40.1%	29.5%	-3.3%	3.0K	-10.7K	113	0.10	81.56	N/A	N/A	360	35	10,031	2,670
2012-08-31	$4.43	$4.00	44.6%	12.8%	38.7%	10.5%	44.6%	31.0%	31.5%	5.7K	39.6K	220	0.32	95.46	N/A	N/A	111	35	10,385	2,680