TXT Options History — February 2010

In February 2010, TXT traded between $18.32 and $20.68. ATM implied volatility averaged 45.5%, placing in the 7.7% IV rank vs the trailing year. The 30-day expected move averaged 13.2%. IV traded below realized volatility by 8.2% (HV 20d: 53.7%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 10 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 1.12.

Notable Days

2010-02-05: Highest Volume — 11,039 contracts
2010-02-11: Largest IV spike — 20.8% change
2010-02-12: Highest IV Rank — 11.8%
2010-02-05: Largest Expected Move — 15.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.47	$18.32	$20.68	$20.64	$19.92
Max Pain	$20.00	$20.00	$20.00	$20.00	$20.00
ATM IV	45.5%	38.3%	53.7%	41.5%	38.3%
Expected Move	13.2%	11.0%	15.5%	11.9%	11.0%
HV 20d	53.7%	39.4%	63.5%	62.5%	39.4%
HV 60d	43.2%	42.4%	44.2%	42.6%	43.4%
IV Rank	7.7%	4.0%	11.8%	5.7%	4.0%
IV Percentile	18.5%	7.1%	35.7%	11.5%	7.1%
Term Structure	0.8%	-1.8%	3.0%	1.1%	0.6%
VWIV	46.0%	37.4%	55.2%	42.1%	37.4%
Skew 25d	7.2%	3.7%	10.4%	3.7%	7.4%
Skew 10d	15.6%	10.0%	22.8%	16.0%	22.8%
Call IV 25d	43.7%	36.1%	50.3%	41.2%	36.1%
Put IV 25d	50.9%	43.4%	60.1%	44.8%	43.4%
Bid-Ask Spread %	18.37	10.84	26.17	17.35	26.17
Gamma HHI	0.15	0.13	0.18	0.18	0.15
Net GEX	382.5K	-259.0K	1.7M	1.7M	-26.5K
Net DEX	-6.4M	-38.4M	17.2M	-38.4M	-14.5M
Net VEX	-376.2K	-411.8K	-349.6K	-411.8K	-373.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.12	0.12	2.71	0.42	0.39
Total Volume	5,166.368	931	11,039	3,646	931
Total OI	146,475.684	119,384	163,406	143,277	129,026

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 Vol	Put Vol	Call OI	Put OI
2010-02-01	$20.64	$20.00	41.5%	11.9%	62.5%	5.7%	42.1%	3.7%	1.1%	1.7M	-38.4M	-411.8K	0.42	17.35	2,572	1,074	93,367	49,910
2010-02-02	$20.68	$20.00	41.3%	11.8%	62.5%	5.5%	42.0%	5.5%	1.9%	1.7M	-38.4M	-407.0K	0.61	19.41	3,792	2,321	92,460	50,384
2010-02-03	$20.46	$20.00	42.3%	12.1%	62.1%	6.1%	43.2%	5.3%	2.3%	1.6M	-32.7M	-410.2K	0.75	10.84	1,476	1,111	93,576	51,301
2010-02-04	$19.56	$20.00	47.3%	13.6%	63.5%	8.6%	47.8%	4.3%	-0.4%	851.0K	-14.2M	-391.5K	2.38	19.08	2,598	6,181	93,617	52,089
2010-02-05	$18.91	$20.00	52.9%	15.5%	62.4%	11.4%	55.2%	9.5%	-1.8%	443.9K	916.8K	-387.3K	1.42	17.96	4,563	6,476	94,861	56,116
2010-02-08	$18.71	$20.00	52.5%	15.4%	62.3%	11.2%	52.7%	10.4%	-1.3%	73.8K	7.9M	-377.0K	0.73	16.82	5,143	3,740	95,901	59,373
2010-02-09	$18.90	$20.00	48.3%	14.6%	59.0%	9.1%	52.9%	10.3%	0.5%	-15.6K	8.2M	-378.5K	1.14	18.54	875	994	95,829	60,729
2010-02-10	$18.88	$20.00	43.8%	14.2%	59.0%	6.8%	46.6%	7.9%	1.7%	-68.7K	9.2M	-374.9K	1.69	17.76	1,378	2,335	97,102	61,413
2010-02-11	$18.96	$20.00	52.9%	15.2%	58.9%	11.4%	52.0%	10.2%	-0.7%	56.5K	6.8M	-375.1K	2.45	16.45	2,382	5,825	96,885	60,185
2010-02-12	$18.32	$20.00	53.7%	15.4%	49.0%	11.8%	50.5%	8.3%	0.3%	-252.2K	17.2M	-349.6K	1.82	17.22	2,257	4,108	97,848	58,946
2010-02-16	$19.08	$20.00	51.1%	14.7%	50.9%	10.5%	50.5%	9.2%	-0.2%	-32.1K	6.6M	-371.4K	0.42	19.30	1,444	605	97,772	62,315
2010-02-17	$19.06	$20.00	50.8%	14.6%	46.5%	10.4%	48.3%	6.5%	-0.5%	-167.7K	7.5M	-364.1K	0.12	17.94	3,200	369	98,367	62,553
2010-02-18	$19.75	$20.00	45.4%	13.0%	48.5%	7.6%	45.6%	7.8%	2.1%	845.0K	-10.0M	-374.3K	0.83	19.40	2,566	2,135	99,566	62,078
2010-02-19	$19.68	$20.00	43.8%	12.6%	46.8%	6.8%	44.1%	6.0%	2.2%	929.7K	-6.2M	-369.6K	0.99	18.80	1,733	1,715	100,661	62,745
2010-02-22	$19.88	$20.00	38.7%	11.1%	47.0%	4.3%	39.3%	7.1%	3.0%	44.9K	-13.7M	-358.9K	0.34	17.61	6,055	2,046	65,375	54,009
2010-02-23	$19.53	$20.00	40.0%	11.5%	47.3%	4.9%	42.4%	6.3%	1.1%	-69.2K	-7.4M	-357.0K	1.36	21.14	2,877	3,917	68,138	55,156
2010-02-24	$19.59	$20.00	39.1%	11.2%	46.5%	4.4%	42.3%	5.7%	2.2%	-150.0K	-7.0M	-360.6K	2.71	19.81	564	1,531	69,193	57,372
2010-02-25	$19.45	$20.00	40.6%	11.6%	45.7%	5.2%	40.0%	5.1%	1.9%	-259.0K	-3.8M	-354.8K	0.74	17.35	3,035	2,237	69,226	57,594
2010-02-26	$19.92	$20.00	38.3%	11.0%	39.4%	4.0%	37.4%	7.4%	0.6%	-26.5K	-14.5M	-373.4K	0.39	26.17	672	259	69,689	59,337