TRX Options History — January 2014

In January 2014, TRX traded between $1.66 and $2.23. ATM implied volatility averaged 91.8%, placing in the 59.5% IV rank vs the trailing year. The 30-day expected move averaged 23.4%. IV traded above realized volatility by 17.3% (HV 20d: 74.5%). Max pain ranged from $1.00 to $3.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.60.

Notable Days

2014-01-17: Highest Volume — 821 contracts
2014-01-30: Largest IV spike — 94.2% change
2014-01-10: Highest IV Rank — 100.0%
2014-01-27: Largest Expected Move — 29.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$1.92	$1.66	$2.23	$1.90	$2.00
Max Pain	$1.25	$1.00	$3.00	$3.00	$1.00
ATM IV	91.8%	48.5%	139.5%	82.2%	96.0%
Expected Move	23.4%	13.9%	29.9%	23.6%	27.5%
HV 20d	74.5%	57.3%	96.2%	83.0%	91.9%
HV 60d	69.4%	66.2%	78.7%	67.1%	77.1%
IV Rank	59.5%	16.5%	100.0%	54.3%	60.1%
IV Percentile	79.4%	12.7%	100.0%	78.6%	90.5%
Term Structure	2.6%	-25.7%	34.1%	32.1%	-14.5%
VWIV	97.6%	83.1%	159.9%	159.9%	83.1%
Skew 25d	30.4%	-43.4%	61.5%	17.0%	40.2%
Skew 10d	49.9%	-60.9%	109.0%	-0.8%	65.0%
Call IV 25d	78.0%	50.3%	191.4%	87.1%	82.6%
Put IV 25d	108.3%	81.2%	148.0%	104.1%	122.8%
Bid-Ask Spread %	57.64	20.41	100.59	38.71	48.63
Gamma HHI	0.75	0.53	1.00	0.55	0.91
Net GEX	497	0	4.4K	4.4K	407
Net DEX	-4.8K	-150.2K	17.6K	-130.4K	14.0K
Net VEX	26	0	231	231	24
P/C Ratio	0.60	0.00	3.65	3.65	0.00
Total Volume	135.095	0	821	93	6
Total OI	6,895.714	3,344	9,511	9,136	4,195

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
2014-01-02	$1.90	$3.00	82.2%	23.6%	83.0%	54.3%	159.9%	17.0%	32.1%	4.4K	-130.4K	231	3.65	38.71	N/A	N/A	20	73	6,842	2,294
2014-01-03	$1.82	$3.00	77.8%	22.3%	83.6%	49.7%	0.0%	-23.7%	21.3%	3.8K	-150.2K	164	0.00	60.05	N/A	N/A	0	0	6,832	2,286
2014-01-06	$1.80	$0.00	66.0%	24.7%	82.0%	37.3%	0.0%	57.4%	-9.2%	0	0	0	2.50	57.08	N/A	N/A	6	15	6,832	2,278
2014-01-07	$1.76	$0.00	77.3%	25.2%	81.5%	49.1%	0.0%	17.0%	-0.5%	0	0	0	0.00	34.99	N/A	N/A	0	0	6,832	2,287
2014-01-08	$1.68	$0.00	100.2%	18.3%	81.1%	73.2%	0.0%	18.4%	33.2%	0	0	0	0.04	45.39	N/A	N/A	100	4	6,832	2,287
2014-01-09	$1.66	$0.00	104.1%	18.4%	57.3%	77.3%	0.0%	27.0%	34.0%	0	0	0	0.18	20.41	N/A	N/A	22	4	6,932	2,289
2014-01-10	$1.69	$0.00	125.8%	18.7%	57.6%	100.0%	99.8%	31.0%	34.1%	0	0	0	0.00	21.10	N/A	N/A	110	0	6,947	2,291
2014-01-13	$1.81	$1.00	87.9%	23.8%	63.5%	60.3%	0.0%	24.2%	0.4%	38	11.6K	6	1.02	34.02	N/A	N/A	49	50	7,057	2,291
2014-01-14	$1.82	$1.00	133.7%	24.0%	63.4%	100.0%	83.8%	24.5%	0.8%	39	11.7K	6	0.00	35.55	N/A	N/A	0	20	7,072	2,277
2014-01-15	$1.93	$1.00	139.5%	24.4%	66.9%	100.0%	0.0%	47.6%	-12.7%	46	12.9K	1	0.00	98.68	N/A	N/A	0	8	7,057	2,200
2014-01-16	$1.99	$1.00	94.2%	27.0%	67.2%	58.4%	94.2%	37.5%	-11.8%	34	13.1K	4	0.44	49.23	N/A	N/A	261	114	7,057	2,200
2014-01-17	$2.14	$1.00	89.6%	25.7%	70.9%	54.2%	91.6%	38.7%	-25.7%	70	16.2K	5	0.20	44.62	N/A	N/A	686	135	7,290	2,221
2014-01-21	$2.23	$1.00	76.7%	22.0%	65.6%	42.4%	84.9%	50.6%	-9.2%	79	14.8K	4	0.57	34.84	N/A	N/A	183	104	2,307	1,037
2014-01-22	$2.08	$1.00	82.7%	23.7%	70.4%	47.9%	83.6%	49.1%	0.8%	197	12.9K	12	0.19	96.33	N/A	N/A	103	20	2,473	1,111
2014-01-23	$2.09	$1.00	85.3%	24.4%	70.2%	50.3%	83.1%	29.9%	0.8%	205	14.1K	12	0.00	58.04	N/A	N/A	0	25	2,576	1,094
2014-01-24	$2.04	$1.00	81.3%	23.3%	69.4%	46.6%	0.0%	34.5%	1.1%	303	10.8K	18	0.00	81.19	N/A	N/A	6	0	2,576	1,119
2014-01-27	$1.90	$1.00	104.4%	29.9%	74.0%	67.8%	0.0%	61.5%	-10.8%	248	9.4K	19	0.00	100.59	N/A	N/A	25	0	2,581	1,119
2014-01-28	$1.81	$1.00	80.6%	23.1%	75.2%	46.0%	0.0%	58.7%	-1.2%	244	7.3K	18	0.00	98.46	N/A	N/A	200	0	2,606	1,119
2014-01-29	$2.12	$1.00	48.5%	13.9%	93.0%	16.5%	0.0%	-43.4%	7.6%	0	17.6K	0	0.21	92.75	N/A	N/A	395	83	2,797	1,119
2014-01-30	$1.98	$1.00	94.2%	27.0%	96.2%	58.5%	0.0%	39.9%	-16.5%	405	13.7K	25	0.00	59.84	N/A	N/A	0	10	3,010	1,188
2014-01-31	$2.00	$1.00	96.0%	27.5%	91.9%	60.1%	0.0%	40.2%	-14.5%	407	14.0K	24	0.00	48.63	N/A	N/A	6	0	3,010	1,185