TRX Options History — February 2013

In February 2013, TRX traded between $3.11 and $3.68. ATM implied volatility averaged 48.1%, placing in the 32.0% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded below realized volatility by 31.2% (HV 20d: 79.3%). Max pain ranged from $3.00 to $3.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 15 of 19 days. Put/call ratio averaged 0.30.

Notable Days

2013-02-20: Highest Volume — 647 contracts
2013-02-28: Largest IV spike — 156.7% change
2013-02-28: Highest IV Rank — 100.0%
2013-02-28: Largest Expected Move — 28.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.44	$3.11	$3.68	$3.56	$3.52
Max Pain	$3.00	$3.00	$3.00	$3.00	$3.00
ATM IV	48.1%	30.5%	100.2%	43.6%	100.2%
Expected Move	13.1%	8.7%	28.7%	11.2%	28.7%
HV 20d	79.3%	68.7%	99.4%	68.7%	86.7%
HV 60d	57.3%	50.2%	68.4%	50.8%	68.4%
IV Rank	32.0%	8.6%	100.0%	26.0%	100.0%
IV Percentile	32.7%	2.8%	100.0%	19.8%	100.0%
Term Structure	12.6%	-18.1%	28.3%	22.6%	-8.4%
VWIV	39.2%	25.3%	53.2%	25.3%	53.2%
Skew 25d	8.8%	-17.0%	50.1%	9.6%	15.3%
Skew 10d	16.4%	-23.1%	60.8%	9.3%	8.4%
Call IV 25d	37.3%	27.3%	58.2%	27.3%	33.5%
Put IV 25d	46.1%	32.4%	83.0%	36.9%	48.8%
Bid-Ask Spread %	19.88	8.86	42.73	13.38	23.88
Gamma HHI	0.59	0.51	0.93	0.53	0.56
Net GEX	182	118	269	178	122
Net DEX	4.1K	2.0K	5.7K	4.7K	4.5K
Net VEX	9	2	11	11	9
P/C Ratio	0.30	0.00	3.10	0.00	0.43
Total Volume	132.105	1	647	1	66
Total OI	11,816.895	11,311	12,422	11,311	12,422

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
2013-02-01	$3.56	$3.00	43.6%	11.2%	68.7%	26.0%	0.0%	9.6%	22.6%	178	4.7K	11	0.00	13.38	N/A	N/A	1	0	5,136	6,175
2013-02-04	$3.42	$3.00	45.6%	12.0%	69.7%	28.8%	0.0%	-1.0%	3.1%	191	3.8K	11	0.00	8.86	N/A	N/A	178	0	5,137	6,175
2013-02-05	$3.42	$3.00	47.6%	9.5%	68.8%	31.5%	0.0%	0.6%	20.6%	189	3.8K	11	0.00	11.33	N/A	N/A	60	0	5,315	6,175
2013-02-06	$3.57	$3.00	59.4%	11.0%	70.0%	47.2%	0.0%	11.3%	28.2%	182	4.8K	10	0.00	11.39	N/A	N/A	162	0	5,375	6,175
2013-02-07	$3.60	$3.00	45.0%	12.9%	69.6%	28.0%	0.0%	11.4%	23.8%	167	4.8K	11	0.00	10.37	N/A	N/A	0	10	5,480	6,175
2013-02-08	$3.42	$3.00	30.5%	8.7%	69.5%	8.6%	0.0%	1.2%	28.3%	189	3.8K	10	0.00	10.76	N/A	N/A	100	0	5,480	6,185
2013-02-11	$3.35	$3.00	34.7%	9.9%	69.6%	14.1%	0.0%	10.0%	26.7%	205	3.5K	9	0.01	34.63	N/A	N/A	105	1	5,531	6,185
2013-02-12	$3.50	$3.00	40.9%	11.7%	71.3%	22.5%	0.0%	14.3%	-5.7%	179	4.3K	10	0.00	15.78	N/A	N/A	120	0	5,636	6,186
2013-02-13	$3.25	$3.00	59.6%	17.1%	75.1%	47.4%	0.0%	5.5%	-18.1%	169	2.7K	11	0.00	42.73	N/A	N/A	94	0	5,756	6,186
2013-02-14	$3.40	$3.00	33.9%	9.7%	77.5%	13.1%	25.3%	15.6%	27.1%	189	3.7K	9	0.27	16.90	N/A	N/A	44	12	5,653	6,144
2013-02-15	$3.56	$3.00	50.4%	14.4%	79.6%	35.1%	0.0%	22.5%	2.5%	169	4.9K	11	0.00	18.62	N/A	N/A	0	205	5,666	6,145
2013-02-19	$3.36	$3.00	44.7%	12.8%	81.9%	27.5%	0.0%	50.1%	0.2%	212	3.9K	7	0.06	20.02	N/A	N/A	180	10	5,524	6,075
2013-02-20	$3.11	$3.00	46.1%	13.2%	85.7%	29.4%	0.0%	9.5%	17.0%	269	2.0K	8	0.50	41.58	N/A	N/A	430	217	5,647	6,085
2013-02-21	$3.41	$3.00	38.7%	11.1%	93.0%	19.5%	0.0%	-9.2%	5.6%	182	4.0K	9	0.61	15.23	N/A	N/A	33	20	5,852	6,172
2013-02-22	$3.32	$3.00	34.4%	9.9%	89.0%	13.8%	0.0%	5.4%	25.8%	177	3.4K	9	0.00	11.84	N/A	N/A	31	0	5,847	6,192
2013-02-25	$3.68	$3.00	64.7%	18.6%	94.4%	54.3%	0.0%	17.8%	25.1%	167	5.7K	8	0.06	16.89	N/A	N/A	155	10	5,878	6,192
2013-02-26	$3.39	$3.00	54.7%	15.7%	99.4%	40.9%	0.0%	-6.0%	-6.8%	207	4.1K	7	0.00	18.03	N/A	N/A	184	0	6,022	6,202
2013-02-27	$3.49	$3.00	39.0%	11.2%	87.6%	20.0%	0.0%	-17.0%	21.6%	118	5.1K	2	3.10	35.48	N/A	N/A	20	62	6,138	6,202
2013-02-28	$3.52	$3.00	100.2%	28.7%	86.7%	100.0%	53.2%	15.3%	-8.4%	122	4.5K	9	0.43	23.88	N/A	N/A	46	20	6,158	6,264