TRX Options History — January 2013

In January 2013, TRX traded between $3.27 and $4.29. ATM implied volatility averaged 46.0%, placing in the 29.2% IV rank vs the trailing year. The 30-day expected move averaged 13.8%. IV traded below realized volatility by 5.3% (HV 20d: 51.4%). Max pain ranged from $4.00 to $4.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.74.

Notable Days

2013-01-17: Highest Volume — 1,288 contracts
2013-01-31: Largest IV spike — 64.2% change
2013-01-31: Highest IV Rank — 69.1%
2013-01-31: Largest Expected Move — 21.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.79	$3.27	$4.29	$4.29	$3.47
Max Pain	$4.00	$4.00	$4.00	$4.00	$4.00
ATM IV	46.0%	32.7%	75.8%	37.1%	75.8%
Expected Move	13.8%	9.4%	21.7%	10.6%	21.7%
HV 20d	51.4%	42.2%	72.8%	42.2%	71.6%
HV 60d	39.7%	33.0%	50.6%	33.0%	50.6%
IV Rank	29.2%	11.6%	69.1%	16.7%	69.1%
IV Percentile	27.0%	4.0%	92.5%	7.5%	92.5%
Term Structure	-0.0%	-44.2%	21.9%	-0.9%	-44.2%
VWIV	43.9%	22.9%	51.5%	49.9%	22.9%
Skew 25d	23.8%	-10.1%	87.8%	-5.7%	27.1%
Skew 10d	32.9%	-0.8%	125.5%	14.7%	31.2%
Call IV 25d	38.6%	28.0%	49.5%	36.4%	40.2%
Put IV 25d	62.5%	30.7%	131.5%	30.7%	67.3%
Bid-Ask Spread %	17.98	8.67	37.42	8.67	33.11
Gamma HHI	0.96	0.50	1.00	0.50	1.00
Net GEX	5.8K	0	41.6K	41.6K	2.8K
Net DEX	-47.1K	-226.0K	69.2K	69.2K	-70.6K
Net VEX	149	0	841	841	80
P/C Ratio	1.74	0.00	11.32	0.00	0.00
Total Volume	248.524	0	1,288	10	74
Total OI	14,413.905	10,462	17,200	15,575	11,247

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
2013-01-02	$4.29	$4.00	37.1%	10.6%	42.2%	16.7%	0.0%	-5.7%	-0.9%	41.6K	69.2K	841	0.00	8.67	N/A	N/A	10	0	9,007	6,568
2013-01-03	$3.99	$4.00	49.9%	14.3%	47.9%	33.2%	49.9%	0.6%	-0.2%	32.4K	-226.0K	609	11.32	14.84	N/A	N/A	63	713	9,007	6,568
2013-01-04	$4.00	$0.00	34.8%	14.3%	46.3%	14.3%	0.0%	10.2%	3.7%	0	0	0	9.40	12.40	N/A	N/A	20	188	9,057	7,226
2013-01-07	$3.85	$0.00	43.1%	15.0%	47.7%	25.5%	0.0%	1.2%	3.1%	0	0	0	0.00	11.27	N/A	N/A	0	104	9,077	7,310
2013-01-08	$3.96	$0.00	38.7%	13.6%	48.8%	19.6%	47.4%	57.4%	0.6%	0	0	0	0.00	13.32	N/A	N/A	0	22	9,077	7,352
2013-01-09	$3.85	$4.00	38.5%	13.4%	49.3%	19.3%	46.7%	2.7%	6.9%	111	-2.5K	5	2.36	16.08	N/A	N/A	44	104	9,077	7,374
2013-01-10	$4.01	$4.00	51.5%	14.8%	52.0%	36.7%	51.5%	6.6%	1.6%	1.5K	-12.9K	77	0.00	11.46	N/A	N/A	22	0	9,121	7,478
2013-01-11	$4.00	$4.00	44.9%	12.9%	48.4%	27.9%	44.9%	5.9%	7.9%	2.0K	-7.6K	87	0.00	10.03	N/A	N/A	0	170	9,143	7,478
2013-01-14	$3.86	$4.00	49.0%	14.0%	48.3%	33.3%	0.0%	6.2%	4.9%	3.6K	-49.5K	158	0.16	26.42	N/A	N/A	536	84	9,143	7,648
2013-01-15	$3.90	$4.00	46.2%	13.2%	47.2%	29.6%	0.0%	82.6%	5.3%	4.0K	-53.2K	154	0.00	37.42	N/A	N/A	192	0	9,423	7,680
2013-01-16	$3.90	$4.00	46.9%	13.5%	47.2%	30.6%	0.0%	84.0%	2.2%	4.0K	-53.2K	152	3.67	16.11	N/A	N/A	18	66	9,520	7,680
2013-01-17	$3.85	$4.00	46.6%	13.4%	46.8%	30.1%	0.0%	87.8%	-2.1%	3.9K	-58.0K	144	0.83	13.92	N/A	N/A	702	586	9,478	7,642
2013-01-18	$3.83	$4.00	38.9%	11.2%	46.4%	19.8%	0.0%	19.5%	21.9%	3.5K	-53.3K	147	0.06	10.98	N/A	N/A	342	22	8,831	8,049
2013-01-22	$3.79	$4.00	32.7%	9.4%	46.3%	11.6%	22.9%	13.5%	1.8%	4.3K	-63.0K	126	0.05	13.77	N/A	N/A	277	15	4,528	5,934
2013-01-23	$3.74	$4.00	36.9%	10.6%	44.6%	17.1%	0.0%	33.2%	18.1%	4.8K	-53.0K	151	0.00	33.46	N/A	N/A	26	0	4,787	5,949
2013-01-24	$3.45	$4.00	59.7%	17.1%	50.2%	47.5%	0.0%	22.1%	-19.6%	2.7K	-73.6K	95	0.11	32.51	N/A	N/A	190	20	4,813	5,949
2013-01-25	$3.28	$4.00	49.4%	14.1%	51.7%	33.8%	0.0%	-10.1%	-14.3%	1.3K	-84.8K	41	1.29	17.21	N/A	N/A	173	223	4,981	5,969
2013-01-28	$3.27	$4.00	49.0%	14.1%	51.6%	33.4%	0.0%	3.4%	-11.7%	1.0K	-86.9K	27	0.00	17.93	N/A	N/A	0	0	4,982	6,166
2013-01-29	$3.73	$4.00	50.2%	14.4%	72.8%	35.0%	0.0%	15.9%	-6.3%	4.0K	-46.0K	137	0.29	15.96	N/A	N/A	105	30	4,982	6,166
2013-01-30	$3.59	$4.00	46.2%	13.2%	71.3%	29.5%	0.0%	36.3%	20.8%	3.6K	-63.4K	109	0.00	10.75	N/A	N/A	78	0	5,050	6,175
2013-01-31	$3.47	$4.00	75.8%	21.7%	71.6%	69.1%	0.0%	27.1%	-44.2%	2.8K	-70.6K	80	0.00	33.11	N/A	N/A	74	0	5,072	6,175