VSAT Options History — November 2007

In November 2007, VSAT traded between $29.10 and $33.47. ATM implied volatility averaged 40.7%, placing in the 40.5% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded below realized volatility by 10.6% (HV 20d: 51.3%). Max pain ranged from $30.00 to $30.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.63.

Notable Days

2007-11-02: Highest Volume — 73 contracts
2007-11-15: Largest IV spike — 68.8% change
2007-11-15: Highest IV Rank — 100.0%
2007-11-01: Largest Expected Move — 11.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$32.20	$29.10	$33.47	$29.10	$33.35
Max Pain	$30.00	$30.00	$30.00	$30.00	$30.00
ATM IV	40.7%	27.0%	86.6%	40.4%	36.7%
Expected Move	10.2%	7.8%	11.6%	11.6%	10.5%
HV 20d	51.3%	36.6%	54.3%	36.6%	48.0%
HV 60d	43.0%	42.0%	47.7%	43.6%	42.0%
IV Rank	40.5%	20.5%	100.0%	52.4%	26.7%
IV Percentile	77.1%	19.9%	100.0%	95.2%	82.5%
Term Structure	1.1%	-2.2%	12.7%	-0.2%	-1.0%
VWIV	38.1%	30.3%	44.9%	40.3%	36.8%
Bid-Ask Spread %	81.56	62.01	116.10	107.15	67.97
Gamma HHI	0.72	0.50	0.94	0.50	0.78
Net GEX	9.7K	-1.4K	19.7K	-1.4K	10.8K
Net DEX	-232.4K	-377.5K	20.2K	20.2K	-234.4K
Net VEX	-992	-1.4K	-782	-1.2K	-876
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.63	0.00	5.71	5.71	0.00
Total Volume	9.286	0	73	47	20
Total OI	274	148	434	389	148

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
2007-11-01	$29.10	$30.00	40.4%	11.6%	36.6%	52.4%	40.3%	0.0%	-0.2%	-1.4K	20.2K	-1.2K	5.71	107.15	N/A	N/A	7	40	271	118
2007-11-02	$32.24	$30.00	33.3%	9.6%	52.4%	35.6%	30.3%	0.0%	-2.1%	5.3K	-291.2K	-1.4K	3.06	116.10	N/A	N/A	18	55	276	158
2007-11-05	$32.91	$30.00	27.0%	7.8%	52.5%	20.5%	38.4%	0.0%	12.7%	15.5K	-377.5K	-1.3K	0.00	113.98	N/A	N/A	33	0	276	118
2007-11-06	$33.47	$30.00	28.9%	8.3%	52.8%	25.0%	44.9%	0.0%	8.6%	19.7K	-369.5K	-1.2K	0.00	114.45	N/A	N/A	16	0	252	113
2007-11-07	$32.74	$30.00	30.6%	8.8%	53.1%	29.1%	0.0%	0.0%	6.3%	12.0K	-284.9K	-1.1K	0.00	114.28	N/A	N/A	0	0	242	113
2007-11-08	$33.38	$30.00	30.3%	8.7%	52.1%	28.3%	0.0%	0.0%	6.8%	18.8K	-341.9K	-1.1K	0.00	102.26	N/A	N/A	0	0	242	113
2007-11-09	$31.92	$30.00	31.4%	9.0%	54.3%	30.9%	0.0%	0.0%	5.0%	3.3K	-222.1K	-1.0K	0.00	114.47	N/A	N/A	0	0	242	113
2007-11-12	$31.91	$30.00	37.7%	10.8%	54.0%	46.0%	0.0%	0.0%	-0.2%	3.4K	-225.6K	-985	0.00	64.52	N/A	N/A	0	0	242	113
2007-11-13	$32.36	$30.00	43.1%	10.9%	54.2%	59.0%	0.0%	0.0%	-2.2%	8.5K	-253.8K	-959	0.00	62.01	N/A	N/A	0	0	242	113
2007-11-14	$32.91	$30.00	47.4%	10.6%	52.5%	69.4%	0.0%	0.0%	-0.7%	14.4K	-297.4K	-1.0K	0.00	64.74	N/A	N/A	0	0	242	113
2007-11-15	$32.42	$30.00	80.1%	10.8%	52.8%	100.0%	0.0%	0.0%	-1.2%	8.8K	-255.5K	-962	0.00	64.83	N/A	N/A	0	0	242	113
2007-11-16	$32.84	$30.00	86.6%	10.8%	52.0%	100.0%	0.0%	0.0%	-2.0%	9.6K	-277.5K	-935	1.00	65.00	N/A	N/A	3	3	242	113
2007-11-19	$32.09	$30.00	37.9%	10.9%	52.6%	28.5%	0.0%	0.0%	-1.5%	9.4K	-194.2K	-890	0.00	65.57	N/A	N/A	0	0	146	2
2007-11-20	$31.68	$30.00	38.1%	10.9%	52.5%	28.9%	0.0%	0.0%	0.0%	9.2K	-178.2K	-850	0.00	66.59	N/A	N/A	0	0	146	2
2007-11-21	$31.11	$30.00	37.7%	10.8%	52.0%	28.3%	0.0%	0.0%	-1.0%	8.9K	-161.0K	-809	0.00	68.29	N/A	N/A	0	0	146	2
2007-11-23	$31.27	$30.00	38.1%	10.9%	50.9%	28.9%	0.0%	0.0%	-0.7%	9.1K	-166.5K	-801	0.00	67.91	N/A	N/A	0	0	146	2
2007-11-26	$31.12	$30.00	37.8%	10.8%	49.6%	28.4%	0.0%	0.0%	-1.5%	9.0K	-157.4K	-782	0.00	69.18	N/A	N/A	0	0	146	2
2007-11-27	$31.77	$30.00	37.9%	10.9%	50.1%	28.6%	0.0%	0.0%	-0.3%	9.6K	-179.6K	-816	0.00	67.61	N/A	N/A	0	0	146	2
2007-11-28	$32.95	$30.00	37.2%	10.7%	51.1%	27.5%	0.0%	0.0%	-2.0%	10.4K	-221.5K	-868	0.00	68.02	N/A	N/A	0	0	146	2
2007-11-29	$32.67	$30.00	37.2%	10.7%	51.3%	27.5%	0.0%	0.0%	0.3%	10.3K	-212.0K	-840	0.00	67.86	N/A	N/A	0	0	146	2
2007-11-30	$33.35	$30.00	36.7%	10.5%	48.0%	26.7%	36.8%	0.0%	-1.0%	10.8K	-234.4K	-876	0.00	67.97	N/A	N/A	20	0	146	2