TRX Options History — April 2014

In April 2014, TRX traded between $2.05 and $2.49. ATM implied volatility averaged 87.3%, placing in the 50.3% IV rank vs the trailing year. The 30-day expected move averaged 24.1%. IV traded above realized volatility by 23.3% (HV 20d: 64.0%). Max pain ranged from $2.00 to $3.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 1.38.

Notable Days

2014-04-17: Highest Volume — 268 contracts
2014-04-07: Largest IV spike — 23.4% change
2014-04-07: Highest IV Rank — 70.7%
2014-04-30: Largest Expected Move — 27.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$2.27	$2.05	$2.49	$2.32	$2.18
Max Pain	$2.67	$2.00	$3.00	$3.00	$2.00
ATM IV	87.3%	74.2%	108.8%	77.6%	95.9%
Expected Move	24.1%	18.1%	27.5%	22.3%	27.5%
HV 20d	64.0%	49.5%	83.2%	83.2%	53.8%
HV 60d	84.0%	76.5%	87.3%	87.0%	76.6%
IV Rank	50.3%	37.7%	70.7%	41.1%	58.4%
IV Percentile	68.6%	38.1%	96.0%	53.6%	84.9%
Term Structure	-1.7%	-32.0%	25.8%	18.6%	-28.3%
VWIV	72.5%	52.6%	92.5%	52.6%	92.5%
Skew 25d	13.5%	-37.5%	43.2%	21.4%	-7.5%
Skew 10d	29.6%	-41.3%	71.1%	19.9%	-8.0%
Call IV 25d	92.4%	70.1%	186.6%	77.0%	100.5%
Put IV 25d	106.0%	72.0%	180.6%	98.3%	92.9%
Bid-Ask Spread %	99.45	35.09	140.52	88.71	127.67
Gamma HHI	0.90	0.51	1.00	0.84	0.91
Net GEX	381	0	2.6K	2.1K	168
Net DEX	-1.3K	-16.7K	3.3K	-16.7K	-2.0K
Net VEX	12	0	61	54	6
P/C Ratio	1.38	0.00	10.00	0.51	2.48
Total Volume	56.095	0	268	119	0
Total OI	4,777.476	2,915	5,847	5,711	3,204

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
2014-04-01	$2.32	$3.00	77.6%	22.3%	83.2%	41.1%	52.6%	21.4%	18.6%	2.1K	-16.7K	54	0.51	88.71	N/A	N/A	79	40	4,080	1,631
2014-04-02	$2.42	$3.00	77.9%	22.3%	78.3%	41.3%	0.0%	40.1%	16.5%	1.8K	-4.2K	40	0.00	89.42	N/A	N/A	8	0	4,145	1,626
2014-04-03	$2.40	$3.00	92.1%	26.4%	78.3%	54.9%	0.0%	34.5%	-7.8%	2.6K	-6.1K	61	0.83	91.82	N/A	N/A	12	10	4,153	1,626
2014-04-04	$2.46	$3.00	88.1%	18.1%	78.7%	51.1%	0.0%	-0.2%	25.7%	71	3.3K	11	0.40	112.34	N/A	N/A	53	21	4,161	1,636
2014-04-07	$2.38	$3.00	108.8%	25.8%	78.2%	70.7%	0.0%	32.2%	6.7%	81	2.1K	8	0.00	107.93	N/A	N/A	0	21	4,166	1,645
2014-04-08	$2.42	$3.00	99.6%	24.4%	69.8%	62.0%	0.0%	26.0%	2.8%	81	1.8K	8	0.00	106.75	N/A	N/A	10	0	4,166	1,656
2014-04-09	$2.49	$3.00	90.2%	23.9%	69.7%	53.1%	0.0%	43.2%	25.8%	95	2.7K	10	2.50	106.84	N/A	N/A	4	10	4,176	1,656
2014-04-10	$2.44	$3.00	74.2%	21.3%	69.9%	37.7%	0.0%	6.7%	18.1%	94	840	5	0.67	112.02	N/A	N/A	60	40	4,172	1,666
2014-04-11	$2.31	$3.00	89.5%	25.7%	70.0%	52.4%	0.0%	-13.9%	-28.7%	73	833	4	0.00	75.54	N/A	N/A	17	0	4,132	1,702
2014-04-14	$2.32	$3.00	84.3%	24.2%	59.8%	47.4%	0.0%	25.0%	-1.3%	0	0	0	0.43	35.09	N/A	N/A	23	10	4,140	1,702
2014-04-15	$2.22	$3.00	86.5%	24.8%	61.3%	49.5%	0.0%	9.2%	-8.4%	0	0	0	0.00	111.41	N/A	N/A	0	36	4,145	1,702
2014-04-16	$2.14	$3.00	83.6%	24.0%	60.5%	46.7%	0.0%	27.9%	2.3%	31	245	2	10.00	110.36	N/A	N/A	2	20	4,145	1,635
2014-04-17	$2.07	$3.00	87.9%	25.2%	61.2%	50.9%	0.0%	27.1%	-8.9%	23	167	1	0.55	39.84	N/A	N/A	173	95	4,147	1,635
2014-04-21	$2.05	$3.00	92.4%	26.5%	49.5%	55.2%	92.5%	33.4%	-8.4%	25	220	1	1.00	108.31	N/A	N/A	40	40	1,841	1,074
2014-04-22	$2.17	$2.00	78.8%	22.6%	53.7%	42.1%	0.0%	-37.5%	-2.7%	0	0	0	0.00	68.96	N/A	N/A	232	0	1,848	1,109
2014-04-23	$2.18	$2.00	74.5%	21.4%	53.7%	38.1%	0.0%	-10.5%	10.4%	171	-2.0K	7	0.00	114.38	N/A	N/A	0	5	2,015	1,109
2014-04-24	$2.11	$2.00	90.0%	25.8%	54.0%	52.8%	0.0%	-3.8%	-5.8%	156	-2.6K	8	2.48	132.87	N/A	N/A	25	62	2,015	1,114
2014-04-25	$2.23	$2.00	85.5%	24.5%	53.0%	48.6%	0.0%	36.7%	-25.4%	155	-1.9K	7	0.00	97.43	N/A	N/A	0	0	2,008	1,166
2014-04-28	$2.16	$2.00	84.7%	24.3%	52.9%	47.8%	0.0%	-6.6%	-5.6%	173	-2.1K	6	0.00	110.29	N/A	N/A	0	30	2,008	1,166
2014-04-29	$2.22	$2.00	91.2%	26.1%	54.2%	54.0%	0.0%	1.1%	-32.0%	163	-1.7K	5	0.00	140.52	N/A	N/A	0	0	2,008	1,196
2014-04-30	$2.18	$2.00	95.9%	27.5%	53.8%	58.4%	0.0%	-7.5%	-28.3%	168	-2.0K	6	0.00	127.67	N/A	N/A	0	0	2,008	1,196