VSAT Options History — August 2007

In August 2007, VSAT traded between $27.22 and $32.14. ATM implied volatility averaged 32.1%, placing in the 32.6% IV rank vs the trailing year. The 30-day expected move averaged 9.4%. IV traded below realized volatility by 19.0% (HV 20d: 51.0%). Max pain ranged from $25.00 to $35.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 0.94.

Notable Days

2007-08-14: Highest Volume — 100 contracts
2007-08-22: Largest IV spike — 53.3% change
2007-08-08: Highest IV Rank — 44.1%
2007-08-23: Largest Expected Move — 10.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$30.26	$27.22	$32.14	$29.19	$30.52
Max Pain	$26.58	$25.00	$35.00	$35.00	$25.00
ATM IV	32.1%	23.4%	36.9%	31.7%	27.6%
Expected Move	9.4%	6.7%	10.3%	9.1%	7.9%
HV 20d	51.0%	34.9%	59.7%	34.9%	53.3%
HV 60d	38.3%	35.0%	40.2%	35.4%	40.2%
IV Rank	32.6%	11.9%	44.1%	31.7%	22.0%
IV Percentile	66.6%	7.6%	96.0%	63.4%	26.5%
Term Structure	1.8%	-1.0%	8.5%	2.0%	3.6%
VWIV	35.2%	30.1%	43.5%	30.1%	43.5%
Bid-Ask Spread %	100.54	76.83	123.87	104.39	123.87
Gamma HHI	0.75	0.50	0.90	0.61	0.85
Net GEX	6.7K	-764	18.2K	3.3K	6.1K
Net DEX	112.4K	-170.7K	423.2K	416.6K	-127.0K
Net VEX	-950	-1.5K	-294	-443	-1.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.94	0.00	5.00	5.00	0.00
Total Volume	11.955	0	100	0	1
Total OI	556.727	189	976	812	190

Daily Data (22 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
2007-08-01	$29.19	$35.00	31.7%	9.1%	34.9%	31.7%	0.0%	0.0%	2.0%	3.3K	416.6K	-443	0.00	104.39	N/A	N/A	0	0	638	174
2007-08-02	$30.20	$35.00	33.5%	9.6%	37.5%	36.1%	0.0%	0.0%	0.2%	8.3K	379.9K	-601	0.00	76.83	N/A	N/A	0	0	638	174
2007-08-03	$29.05	$35.00	32.4%	9.3%	39.6%	33.3%	0.0%	0.0%	1.7%	2.9K	420.3K	-419	0.00	86.95	N/A	N/A	0	0	638	174
2007-08-06	$28.93	$0.00	27.0%	9.7%	39.5%	20.5%	0.0%	0.0%	-0.3%	2.3K	417.3K	-385	0.00	94.14	N/A	N/A	0	0	638	171
2007-08-07	$28.19	$0.00	29.7%	9.4%	39.5%	26.8%	0.0%	0.0%	0.5%	7.7K	337.2K	-619	5.00	98.39	N/A	N/A	5	25	638	171
2007-08-08	$27.22	$0.00	36.9%	8.8%	40.4%	44.1%	30.1%	0.0%	4.7%	-764	423.2K	-294	0.00	109.40	N/A	N/A	39	0	643	196
2007-08-09	$29.27	$25.00	27.2%	9.8%	48.7%	21.0%	0.0%	0.0%	-0.7%	6.0K	321.4K	-453	0.03	93.39	N/A	N/A	36	1	682	196
2007-08-10	$31.73	$25.00	30.4%	9.7%	57.4%	28.7%	34.5%	0.0%	-1.0%	11.6K	259.9K	-709	0.00	98.26	N/A	N/A	5	0	681	197
2007-08-13	$31.60	$25.00	36.8%	9.8%	56.6%	43.9%	33.0%	0.0%	0.4%	8.6K	276.3K	-618	3.33	102.23	N/A	N/A	3	10	679	197
2007-08-14	$30.52	$25.00	32.5%	10.1%	57.8%	33.6%	0.0%	0.0%	0.1%	7.8K	316.4K	-595	0.00	93.96	N/A	N/A	100	0	677	199
2007-08-16	$31.76	$25.00	34.4%	9.9%	59.7%	38.3%	0.0%	0.0%	1.3%	12.7K	140.4K	-1.5K	0.00	100.13	N/A	N/A	4	0	777	199
2007-08-17	$32.14	$25.00	30.4%	8.7%	59.1%	28.6%	0.0%	0.0%	8.5%	18.2K	121.8K	-1.5K	2.00	100.41	N/A	N/A	10	20	773	199
2007-08-20	$31.38	$25.00	35.0%	10.0%	59.3%	39.5%	35.0%	0.0%	0.5%	6.3K	-170.7K	-1.4K	0.00	99.88	N/A	N/A	0	1	157	32
2007-08-21	$31.24	$25.00	23.4%	6.7%	59.3%	11.9%	0.0%	0.0%	8.5%	6.4K	-158.7K	-1.3K	0.00	121.12	N/A	N/A	0	0	157	33
2007-08-22	$30.78	$25.00	35.9%	10.3%	55.6%	41.7%	0.0%	0.0%	-0.5%	5.9K	-144.9K	-1.3K	0.00	96.85	N/A	N/A	0	0	157	33
2007-08-23	$30.74	$25.00	35.9%	10.3%	55.5%	41.8%	43.5%	0.0%	-0.3%	5.9K	-143.5K	-1.3K	0.00	97.12	N/A	N/A	2	0	157	33
2007-08-24	$31.03	$25.00	23.5%	6.7%	53.2%	12.0%	0.0%	0.0%	8.4%	6.3K	-147.1K	-1.3K	0.00	122.14	N/A	N/A	0	0	157	33
2007-08-27	$30.59	$25.00	35.2%	10.1%	52.6%	40.0%	0.0%	0.0%	0.8%	5.8K	-137.7K	-1.3K	0.00	98.73	N/A	N/A	0	0	157	33
2007-08-28	$29.46	$25.00	35.7%	10.2%	54.4%	41.2%	0.0%	0.0%	0.1%	5.1K	-96.6K	-1.1K	0.00	97.60	N/A	N/A	0	0	157	33
2007-08-29	$30.11	$25.00	35.5%	10.2%	54.7%	40.8%	0.0%	0.0%	0.7%	5.4K	-116.9K	-1.2K	0.00	97.62	N/A	N/A	1	0	157	33
2007-08-30	$30.01	$25.00	34.8%	10.0%	54.4%	39.1%	0.0%	0.0%	0.8%	5.3K	-113.9K	-1.2K	0.00	98.53	N/A	N/A	0	0	157	33
2007-08-31	$30.52	$25.00	27.6%	7.9%	53.3%	22.0%	0.0%	0.0%	3.6%	6.1K	-127.0K	-1.2K	0.00	123.87	N/A	N/A	1	0	157	33