VSAT Options History — January 2008

In January 2008, VSAT traded between $20.52 and $33.88. ATM implied volatility averaged 40.3%, placing in the 32.1% IV rank vs the trailing year. The 30-day expected move averaged 11.6%. IV traded below realized volatility by 29.0% (HV 20d: 69.3%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.05.

Notable Days

2008-01-11: Highest Volume — 58 contracts
2008-01-30: Largest IV spike — 43.5% change
2008-01-30: Highest IV Rank — 78.2%
2008-01-30: Largest Expected Move — 20.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$24.11	$20.52	$33.88	$33.88	$20.77
Max Pain	$26.43	$25.00	$30.00	$30.00	$25.00
ATM IV	40.3%	29.6%	71.7%	32.1%	49.8%
Expected Move	11.6%	8.5%	20.6%	9.2%	14.3%
HV 20d	69.3%	39.3%	82.0%	40.5%	72.1%
HV 60d	55.7%	41.9%	59.9%	41.9%	54.1%
IV Rank	32.1%	16.4%	78.2%	20.0%	46.1%
IV Percentile	80.2%	36.3%	99.2%	48.0%	97.6%
Term Structure	-1.1%	-31.1%	10.5%	4.3%	-6.4%
VWIV	44.6%	30.1%	71.7%	39.8%	71.7%
Bid-Ask Spread %	82.08	58.33	102.79	95.49	69.65
Gamma HHI	0.87	0.54	1.00	0.88	1.00
Net GEX	5.9K	983	24.1K	24.1K	1.7K
Net DEX	-58.3K	-337.8K	20.2K	-337.8K	1.5K
Net VEX	-363	-981	-47	-981	-239
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.05	0.00	0.29	0.00	0.00
Total Volume	7.19	0	58	0	3
Total OI	295	221	357	221	357

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
2008-01-02	$33.88	$30.00	32.1%	9.2%	40.5%	20.0%	0.0%	0.0%	4.3%	24.1K	-337.8K	-981	0.00	95.49	N/A	N/A	0	0	219	2
2008-01-03	$32.64	$30.00	29.6%	8.5%	42.1%	16.4%	0.0%	0.0%	7.4%	20.6K	-246.8K	-874	0.00	99.41	N/A	N/A	0	0	219	2
2008-01-04	$32.37	$30.00	35.1%	10.1%	41.1%	24.4%	0.0%	0.0%	2.7%	20.3K	-241.7K	-844	0.00	102.79	N/A	N/A	0	0	219	2
2008-01-07	$32.15	$30.00	36.4%	10.4%	39.3%	26.3%	0.0%	0.0%	1.8%	19.6K	-221.2K	-765	0.00	101.95	N/A	N/A	0	0	219	2
2008-01-08	$26.71	$30.00	35.4%	10.2%	75.5%	24.9%	0.0%	0.0%	6.2%	4.7K	-30.4K	-213	0.00	85.93	N/A	N/A	2	0	219	2
2008-01-09	$24.48	$30.00	38.8%	11.1%	80.1%	29.8%	39.8%	0.0%	-0.8%	983	-1.1K	-47	0.06	68.15	N/A	N/A	31	2	219	2
2008-01-10	$23.51	$25.00	37.3%	10.7%	80.5%	27.7%	0.0%	0.0%	2.3%	2.1K	-12.2K	-93	0.00	84.67	N/A	N/A	20	0	250	4
2008-01-11	$22.72	$25.00	35.9%	10.3%	80.3%	25.6%	36.8%	0.0%	2.5%	2.1K	-22.4K	-162	0.29	96.65	N/A	N/A	45	13	270	4
2008-01-14	$22.78	$25.00	37.5%	10.8%	80.4%	28.0%	0.0%	0.0%	0.3%	2.8K	-32.8K	-381	0.00	96.65	N/A	N/A	0	0	305	16
2008-01-15	$22.49	$25.00	32.5%	9.3%	80.4%	20.5%	0.0%	0.0%	8.5%	2.7K	-24.6K	-347	0.00	100.72	N/A	N/A	0	0	305	16
2008-01-16	$23.15	$25.00	39.5%	11.3%	82.0%	30.8%	0.0%	0.0%	1.5%	3.0K	-40.1K	-388	0.00	63.36	N/A	N/A	10	0	305	16
2008-01-17	$22.35	$25.00	32.9%	9.4%	81.9%	21.2%	30.1%	0.0%	10.5%	2.8K	-28.7K	-384	0.00	74.77	N/A	N/A	5	0	315	16
2008-01-18	$21.50	$25.00	36.3%	10.4%	77.5%	26.2%	0.0%	0.0%	6.2%	2.7K	-10.9K	-319	0.00	72.00	N/A	N/A	0	0	320	16
2008-01-22	$20.99	$25.00	39.6%	11.4%	75.7%	31.1%	0.0%	0.0%	2.8%	2.2K	-3.3K	-272	0.00	70.22	N/A	N/A	0	0	320	17
2008-01-23	$20.58	$25.00	43.1%	12.4%	71.2%	36.2%	0.0%	0.0%	-0.9%	2.0K	-3.2K	-265	0.00	69.24	N/A	N/A	0	0	320	16
2008-01-24	$20.70	$25.00	43.5%	12.5%	71.1%	36.8%	0.0%	0.0%	-1.4%	2.1K	-3.5K	-264	0.00	69.48	N/A	N/A	0	0	320	16
2008-01-25	$20.57	$25.00	42.5%	12.2%	70.5%	35.3%	0.0%	0.0%	-16.7%	1.5K	20.2K	-139	0.00	88.29	N/A	N/A	0	0	320	17
2008-01-28	$20.67	$25.00	46.6%	13.4%	71.2%	41.3%	0.0%	0.0%	-17.3%	2.0K	13.5K	-170	0.00	87.05	N/A	N/A	0	0	320	16
2008-01-29	$20.52	$25.00	50.0%	14.3%	70.6%	46.3%	0.0%	0.0%	-5.2%	1.6K	2.1K	-235	0.00	68.97	N/A	N/A	0	0	320	16
2008-01-30	$20.68	$25.00	71.7%	20.6%	71.4%	78.2%	71.7%	0.0%	-31.1%	1.7K	-616	-241	0.00	58.33	N/A	N/A	20	0	320	16
2008-01-31	$20.77	$25.00	49.8%	14.3%	72.1%	46.1%	0.0%	0.0%	-6.4%	1.7K	1.5K	-239	0.00	69.65	N/A	N/A	0	3	340	17