TXT Options History — October 2008

In October 2008, TXT traded between $11.69 and $28.84. ATM implied volatility averaged 143.3%, placing in the 71.5% IV rank vs the trailing year. The 30-day expected move averaged 34.6%. IV traded above realized volatility by 22.6% (HV 20d: 120.7%). Max pain ranged from $17.50 to $40.00. Net GEX was positive for 9 of 23 trading days. Term structure was in contango for 0 of 23 days. Put/call ratio averaged 0.69.

Notable Days

2008-10-22: Highest Volume — 16,276 contracts
2008-10-16: Largest IV drop — 57.7% change
2008-10-02: Highest IV Rank — 100.0%
2008-10-27: Largest Expected Move — 48.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.81	$11.69	$28.84	$28.84	$17.70
Max Pain	$23.70	$17.50	$40.00	$35.00	$17.50
ATM IV	143.3%	86.4%	240.6%	88.1%	129.5%
Expected Move	34.6%	24.8%	48.1%	25.2%	37.1%
HV 20d	120.7%	93.6%	158.5%	93.6%	158.5%
HV 60d	84.1%	66.2%	108.4%	66.2%	108.4%
IV Rank	71.5%	28.2%	100.0%	81.8%	48.3%
IV Percentile	97.9%	94.4%	100.0%	99.6%	94.4%
Term Structure	-15.1%	-26.8%	-4.6%	-17.1%	-5.8%
VWIV	120.0%	85.6%	163.2%	89.1%	125.5%
Skew 25d	13.7%	2.1%	29.6%	2.7%	29.1%
Skew 10d	23.6%	2.2%	75.3%	4.3%	75.3%
Call IV 25d	114.4%	85.1%	154.5%	89.7%	117.0%
Put IV 25d	128.1%	92.4%	179.9%	92.4%	146.0%
Bid-Ask Spread %	23.49	9.97	36.48	22.04	17.74
Gamma HHI	0.15	0.09	0.27	0.27	0.11
Net GEX	-46.2K	-385.8K	307.4K	-385.8K	171.1K
Net DEX	59.3M	37.9M	81.5M	73.9M	37.9M
Net VEX	-195.2K	-350.6K	-100.9K	-350.6K	-223.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.69	0.12	2.41	0.70	0.33
Total Volume	6,849.913	1,147	16,276	1,147	4,409
Total OI	125,490.783	104,271	143,847	105,183	143,847

Daily Data (23 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 Vol	Put Vol	Call OI	Put OI
2008-10-01	$28.84	$35.00	88.1%	25.2%	93.6%	81.8%	89.1%	2.7%	-17.1%	-385.8K	73.9M	-350.6K	0.70	22.04	676	471	59,356	45,827
2008-10-02	$26.85	$40.00	103.0%	29.5%	94.7%	100.0%	104.6%	2.1%	-23.4%	-375.1K	77.1M	-305.2K	0.12	25.72	1,325	163	58,553	45,718
2008-10-03	$25.22	$35.00	98.4%	28.2%	95.6%	94.1%	100.9%	2.3%	-18.0%	-373.3K	81.5M	-242.4K	0.51	30.40	977	500	59,332	45,669
2008-10-06	$23.96	$30.00	137.0%	27.1%	95.9%	100.0%	96.9%	5.0%	-12.0%	-275.7K	77.4M	-236.0K	0.42	35.21	4,869	2,049	59,699	45,809
2008-10-07	$20.56	$30.00	152.8%	30.8%	106.0%	100.0%	107.1%	10.3%	-13.9%	-107.5K	72.0M	-170.1K	0.91	30.92	6,225	5,639	63,214	45,796
2008-10-08	$20.01	$30.00	151.8%	31.6%	104.8%	99.2%	109.9%	4.2%	-14.7%	-110.1K	71.3M	-162.2K	0.63	31.86	5,905	3,699	65,419	48,483
2008-10-09	$18.29	$22.50	165.6%	34.2%	104.2%	100.0%	115.3%	10.8%	-16.5%	-90.8K	69.6M	-157.4K	0.73	27.95	3,377	2,459	69,907	51,346
2008-10-10	$19.03	$22.50	203.4%	38.4%	106.8%	100.0%	135.3%	9.4%	-26.8%	-59.5K	62.3M	-229.6K	0.87	27.37	6,514	5,694	72,852	51,942
2008-10-13	$20.95	$22.50	209.8%	34.3%	115.6%	100.0%	117.0%	18.9%	-16.9%	30.1K	60.9M	-244.3K	0.45	26.50	4,399	1,976	77,498	53,444
2008-10-14	$21.57	$22.50	176.2%	31.7%	117.4%	81.8%	105.8%	13.6%	-15.8%	107.1K	57.6M	-250.6K	0.90	26.01	3,822	3,451	80,254	53,414
2008-10-15	$19.07	$22.50	240.6%	34.3%	119.5%	100.0%	121.0%	12.9%	-13.6%	87.9K	60.6M	-203.8K	0.27	36.48	4,880	1,307	82,127	53,750
2008-10-16	$20.19	$22.50	101.8%	29.2%	122.9%	35.4%	102.6%	13.5%	-9.8%	307.4K	64.2M	-200.5K	0.89	29.90	4,307	3,832	86,054	54,227
2008-10-17	$19.12	$22.50	101.2%	29.0%	111.8%	35.1%	106.4%	12.3%	-8.9%	-24.2K	70.2M	-191.5K	0.43	23.11	4,326	1,870	87,587	56,179
2008-10-20	$18.81	$22.50	86.4%	24.8%	112.0%	28.2%	85.6%	9.8%	-4.6%	13.4K	55.7M	-163.2K	0.29	22.26	1,490	429	65,056	44,784
2008-10-21	$16.03	$22.50	100.8%	28.9%	120.9%	34.9%	100.4%	9.0%	-7.1%	-3.3K	54.9M	-110.3K	0.95	19.32	7,251	6,899	65,461	45,029
2008-10-22	$13.03	$20.00	129.3%	37.1%	135.1%	48.2%	127.2%	12.8%	-15.5%	-12.4K	49.3M	-100.9K	2.03	20.88	5,375	10,901	70,958	49,686
2008-10-23	$11.69	$17.50	147.6%	42.3%	133.8%	56.7%	152.3%	17.0%	-17.7%	-59.2K	48.0M	-107.2K	2.41	16.89	4,112	9,900	74,591	58,019
2008-10-24	$12.22	$17.50	156.0%	44.7%	138.0%	60.6%	155.5%	17.6%	-17.4%	-42.1K	45.0M	-131.0K	0.32	17.22	2,587	830	77,271	59,070
2008-10-27	$13.58	$17.50	167.9%	48.1%	141.0%	66.2%	163.2%	25.3%	-21.6%	-9.8K	44.6M	-156.8K	0.38	13.80	1,654	622	78,729	59,241
2008-10-28	$15.33	$17.50	152.3%	43.7%	147.8%	58.9%	153.2%	27.9%	-17.2%	34.8K	43.3M	-185.1K	0.35	14.55	1,955	688	79,637	59,298
2008-10-29	$14.70	$17.50	152.3%	43.7%	147.6%	58.9%	150.4%	19.8%	-15.4%	25.0K	43.1M	-177.9K	0.47	9.97	5,024	2,341	80,711	59,660
2008-10-30	$15.93	$17.50	144.9%	41.5%	152.3%	55.4%	134.0%	29.6%	-16.7%	89.9K	42.6M	-190.1K	0.51	14.24	4,232	2,137	83,058	58,726
2008-10-31	$17.70	$17.50	129.5%	37.1%	158.5%	48.3%	125.5%	29.1%	-5.8%	171.1K	37.9M	-223.5K	0.33	17.74	3,320	1,089	84,787	59,060