TXT Options History — February 2014

In February 2014, TXT traded between $34.28 and $39.89. ATM implied volatility averaged 25.5%, placing in the 29.2% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 7.2% (HV 20d: 32.7%). Max pain ranged from $32.00 to $32.00. Net GEX was positive for 12 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 1.46.

Notable Days

2014-02-20: Highest Volume — 5,839 contracts
2014-02-07: Largest IV drop — 11.1% change
2014-02-03: Highest IV Rank — 48.0%
2014-02-03: Largest Expected Move — 9.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$37.16	$34.28	$39.89	$34.28	$39.70
Max Pain	$32.00	$32.00	$32.00	$32.00	$32.00
ATM IV	25.5%	22.8%	31.3%	31.3%	23.5%
Expected Move	8.7%	8.5%	9.2%	9.2%	8.5%
HV 20d	32.7%	29.8%	35.1%	31.7%	30.3%
HV 60d	37.5%	37.0%	38.1%	37.1%	38.1%
IV Rank	29.2%	20.4%	48.0%	48.0%	22.6%
IV Percentile	34.6%	11.9%	77.4%	77.4%	15.1%
Term Structure	2.8%	-0.8%	5.4%	-0.8%	5.4%
VWIV	34.4%	27.0%	42.0%	34.1%	35.4%
Skew 25d	3.0%	1.9%	3.6%	3.3%	3.3%
Skew 10d	7.0%	5.5%	9.5%	7.3%	7.6%
Call IV 25d	25.0%	22.7%	30.2%	30.2%	22.7%
Put IV 25d	28.0%	26.0%	33.4%	33.4%	26.0%
Bid-Ask Spread %	24.20	13.95	30.58	21.82	20.36
Gamma HHI	0.19	0.10	0.40	0.10	0.20
Net GEX	580.3K	-629.2K	2.7M	-565.0K	1.4M
Net DEX	-18.6M	-50.4M	16.3M	16.3M	-42.6M
Net VEX	-159.9K	-184.9K	-138.5K	-181.9K	-147.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.46	0.13	7.84	2.09	0.14
Total Volume	1,481.632	220	5,839	2,030	1,110
Total OI	45,532.421	35,911	51,655	47,545	38,637

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
2014-02-03	$34.28	$32.00	31.3%	9.2%	31.7%	48.0%	34.1%	3.3%	-0.8%	-565.0K	16.3M	-181.9K	2.09	21.82	658	1,372	22,762	24,783
2014-02-04	$35.10	$32.00	28.7%	9.0%	33.1%	39.4%	30.4%	2.9%	0.5%	-397.3K	6.8M	-184.9K	0.54	24.58	565	306	22,952	24,232
2014-02-05	$34.83	$32.00	28.6%	9.0%	33.0%	39.3%	40.0%	1.9%	0.7%	-489.3K	9.9M	-183.2K	0.37	30.58	797	295	23,111	24,349
2014-02-06	$35.27	$32.00	27.8%	8.9%	33.3%	36.4%	0.0%	2.4%	1.1%	-450.0K	6.0M	-181.6K	1.65	29.35	83	137	23,053	24,480
2014-02-07	$35.82	$32.00	24.7%	9.0%	33.8%	26.4%	29.6%	3.4%	2.3%	-512.1K	2.1M	-175.0K	1.48	26.33	354	524	23,028	24,581
2014-02-10	$35.22	$32.00	26.7%	9.0%	34.3%	33.0%	40.4%	3.1%	1.7%	-629.2K	7.8M	-167.8K	0.28	14.21	431	120	23,183	24,708
2014-02-11	$36.15	$32.00	24.3%	8.7%	34.2%	25.1%	0.0%	3.4%	2.3%	-301.2K	-3.4M	-169.6K	1.26	24.84	254	320	23,033	24,710
2014-02-12	$36.83	$32.00	22.8%	8.6%	34.5%	20.4%	0.0%	3.6%	2.8%	115.2K	-12.7M	-166.9K	0.78	17.73	554	430	23,056	24,762
2014-02-13	$36.84	$32.00	25.2%	8.7%	34.3%	28.2%	0.0%	3.4%	2.8%	70.2K	-12.6M	-165.1K	0.81	25.76	532	432	23,229	24,948
2014-02-14	$37.33	$32.00	25.0%	8.7%	34.5%	27.4%	27.0%	3.2%	2.8%	695.2K	-21.9M	-161.8K	2.85	30.16	255	726	23,616	25,155
2014-02-18	$37.83	$32.00	24.7%	8.7%	34.6%	26.4%	32.4%	3.3%	2.8%	1.5M	-31.9M	-150.0K	0.66	13.95	489	325	23,588	25,737
2014-02-19	$37.27	$32.00	25.4%	8.6%	35.1%	28.6%	30.0%	3.4%	2.9%	435.6K	-19.6M	-147.7K	1.94	26.04	517	1,003	23,835	25,890
2014-02-20	$38.53	$32.00	24.2%	8.5%	32.2%	24.7%	41.2%	2.8%	3.4%	2.7M	-48.5M	-138.5K	0.14	25.56	5,118	721	23,522	26,662
2014-02-21	$38.31	$32.00	24.9%	8.8%	32.2%	27.1%	0.0%	2.9%	2.9%	1.9M	-50.4M	-144.5K	0.33	29.79	921	305	24,342	27,313
2014-02-24	$39.19	$32.00	24.4%	8.6%	29.8%	25.5%	29.9%	3.1%	5.2%	1.4M	-39.7M	-139.8K	0.13	27.19	3,735	478	17,377	18,534
2014-02-25	$38.80	$32.00	24.2%	8.6%	30.1%	24.9%	42.0%	2.8%	4.9%	1.4M	-37.3M	-144.8K	7.84	27.28	166	1,301	17,651	18,863
2014-02-26	$38.80	$32.00	24.5%	8.6%	30.1%	25.7%	0.0%	2.7%	4.6%	1.3M	-36.4M	-147.4K	3.07	23.41	260	798	17,713	19,925
2014-02-27	$39.89	$32.00	24.2%	8.5%	30.1%	24.7%	0.0%	2.9%	4.9%	1.4M	-44.6M	-141.0K	1.32	20.79	759	1,000	17,766	20,030
2014-02-28	$39.70	$32.00	23.5%	8.5%	30.3%	22.6%	35.4%	3.3%	5.4%	1.4M	-42.6M	-147.0K	0.14	20.36	976	134	17,893	20,744