TRX Options History — June 2013

In June 2013, TRX traded between $2.17 and $3.39. ATM implied volatility averaged 73.6%, placing in the 65.1% IV rank vs the trailing year. The 30-day expected move averaged 21.0%. IV traded below realized volatility by 17.8% (HV 20d: 91.4%). Max pain ranged from $3.00 to $4.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.34.

Notable Days

2013-06-21: Highest Volume — 573 contracts
2013-06-05: Largest IV spike — 46.8% change
2013-06-25: Highest IV Rank — 84.1%
2013-06-25: Largest Expected Move — 25.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$2.82	$2.17	$3.39	$3.39	$2.70
Max Pain	$3.45	$3.00	$4.00	$3.00	$3.00
ATM IV	73.6%	48.8%	88.1%	85.4%	77.3%
Expected Move	21.0%	14.0%	25.3%	24.5%	22.2%
HV 20d	91.4%	74.1%	102.3%	102.3%	98.4%
HV 60d	89.8%	87.1%	97.9%	89.6%	97.9%
IV Rank	65.1%	32.5%	84.1%	80.5%	69.9%
IV Percentile	87.2%	42.5%	99.6%	98.4%	95.6%
Term Structure	-3.2%	-33.1%	19.4%	-15.3%	-7.8%
VWIV	75.6%	62.1%	103.4%	70.8%	65.3%
Skew 25d	12.5%	-49.4%	116.6%	34.5%	2.0%
Skew 10d	24.4%	-29.8%	135.4%	31.8%	8.5%
Call IV 25d	68.6%	41.7%	160.5%	48.9%	73.9%
Put IV 25d	81.1%	49.9%	161.5%	83.4%	75.9%
Bid-Ask Spread %	21.67	12.86	54.59	26.88	22.38
Gamma HHI	0.65	0.44	1.00	1.00	0.73
Net GEX	12.0K	0	23.7K	6.3K	16.6K
Net DEX	-231.9K	-556.3K	382.4K	299.6K	-401.4K
Net VEX	800	0	1.8K	268	781
P/C Ratio	0.34	0.00	2.52	2.52	0.00
Total Volume	152.85	1	573	377	54
Total OI	13,611.5	13,306	14,158	13,308	13,640

Daily Data (20 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
2013-06-03	$3.39	$3.00	85.4%	24.5%	102.3%	80.5%	0.0%	34.5%	-15.3%	6.3K	299.6K	268	2.52	26.88	N/A	N/A	107	270	9,895	3,413
2013-06-04	$3.31	$3.00	48.8%	14.0%	100.6%	32.5%	0.0%	10.1%	15.4%	6.9K	275.9K	277	0.00	19.28	N/A	N/A	17	0	9,918	3,538
2013-06-05	$3.29	$3.00	71.6%	20.5%	96.6%	62.5%	0.0%	116.6%	-0.3%	0	374.4K	0	0.00	28.79	N/A	N/A	0	3	9,917	3,538
2013-06-06	$3.36	$3.00	60.5%	17.3%	94.5%	47.8%	0.0%	26.3%	19.4%	0	382.4K	0	1.00	18.58	N/A	N/A	10	10	9,917	3,538
2013-06-07	$3.13	$4.00	73.6%	20.4%	95.8%	65.0%	0.0%	-10.2%	-1.7%	23.0K	-197.5K	1.8K	0.00	14.36	N/A	N/A	74	0	9,912	3,534
2013-06-10	$3.06	$4.00	72.8%	20.6%	94.7%	63.9%	70.8%	13.4%	-3.9%	22.0K	-222.2K	1.7K	0.00	15.42	N/A	N/A	0	10	9,945	3,534
2013-06-11	$3.05	$4.00	70.6%	18.2%	94.7%	61.1%	62.1%	37.0%	4.6%	21.9K	-306.2K	1.4K	0.28	15.01	N/A	N/A	215	61	9,945	3,524
2013-06-12	$3.08	$4.00	66.6%	20.1%	94.6%	55.9%	76.8%	14.1%	-0.8%	22.4K	-240.8K	1.6K	0.00	14.34	N/A	N/A	0	111	10,124	3,557
2013-06-13	$3.13	$4.00	66.2%	19.0%	92.2%	55.3%	66.2%	14.4%	1.6%	23.7K	-203.8K	1.6K	0.00	16.85	N/A	N/A	0	1	10,124	3,554
2013-06-14	$2.91	$4.00	70.6%	20.2%	96.2%	61.1%	0.0%	1.9%	-4.7%	19.3K	-308.9K	1.3K	0.00	21.48	N/A	N/A	0	10	10,124	3,553
2013-06-17	$2.88	$4.00	73.2%	21.0%	90.9%	64.5%	0.0%	-1.8%	-3.5%	18.4K	-339.4K	1.2K	0.00	14.27	N/A	N/A	25	0	10,124	3,547
2013-06-18	$2.83	$4.00	74.6%	21.4%	76.8%	66.3%	0.0%	42.6%	-12.4%	16.3K	-400.1K	1.0K	0.46	20.87	N/A	N/A	175	80	10,116	3,547
2013-06-19	$2.62	$4.00	76.7%	22.0%	81.4%	69.2%	78.1%	-3.0%	-12.7%	13.9K	-403.0K	871	0.31	18.04	N/A	N/A	388	122	10,254	3,557
2013-06-20	$2.36	$3.00	74.6%	21.4%	89.0%	66.4%	0.0%	13.4%	-17.2%	8.9K	-460.6K	585	0.11	12.86	N/A	N/A	276	30	10,522	3,519
2013-06-21	$2.39	$3.00	83.4%	23.9%	86.4%	77.9%	103.4%	-49.4%	-33.1%	10.5K	-379.1K	882	0.04	54.59	N/A	N/A	553	20	10,628	3,530
2013-06-24	$2.18	$3.00	81.8%	23.4%	91.5%	75.8%	82.5%	26.4%	0.0%	5.6K	-492.9K	300	0.01	22.33	N/A	N/A	344	4	9,801	3,505
2013-06-25	$2.28	$3.00	88.1%	25.3%	93.6%	84.1%	0.0%	-31.5%	-10.9%	0	-556.3K	0	0.00	21.52	N/A	N/A	5	0	10,100	3,505
2013-06-26	$2.17	$3.00	81.2%	23.3%	83.6%	75.0%	65.3%	24.9%	0.7%	4.9K	-502.9K	276	0.31	20.75	N/A	N/A	48	15	10,105	3,505
2013-06-27	$2.29	$3.00	75.5%	21.6%	74.1%	67.6%	0.0%	-31.5%	18.1%	0	-554.6K	0	0.00	34.88	N/A	N/A	19	0	10,134	3,487
2013-06-28	$2.70	$3.00	77.3%	22.2%	98.4%	69.9%	0.0%	2.0%	-7.8%	16.6K	-401.4K	781	0.00	22.38	N/A	N/A	54	0	10,153	3,487