VSAT Options History — February 2008

In February 2008, VSAT traded between $19.64 and $22.56. ATM implied volatility averaged 63.0%, placing in the 50.2% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded above realized volatility by 14.7% (HV 20d: 48.3%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 0 of 20 days. Put/call ratio averaged 0.07.

Notable Days

2008-02-01: Highest Volume — 12 contracts
2008-02-19: Largest IV drop — 76.9% change
2008-02-12: Highest IV Rank — 100.0%
2008-02-07: Largest Expected Move — 22.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$20.97	$19.64	$22.56	$21.03	$20.97
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	63.0%	33.5%	155.4%	64.6%	34.5%
Expected Move	12.8%	9.6%	22.9%	18.5%	9.9%
HV 20d	48.3%	37.8%	74.7%	73.1%	50.8%
HV 60d	56.3%	53.8%	58.4%	53.9%	58.4%
IV Rank	50.2%	11.0%	100.0%	67.8%	11.7%
IV Percentile	81.7%	49.2%	100.0%	98.8%	56.7%
Term Structure	-26.2%	-45.6%	-11.8%	-27.1%	-11.8%
VWIV	66.7%	66.7%	66.7%	66.7%	66.7%
Bid-Ask Spread %	92.25	33.32	117.83	59.15	107.45
Gamma HHI	1.00	0.92	1.00	0.92	1.00
Net GEX	2.2K	1.2K	3.2K	3.2K	2.2K
Net DEX	-13.6K	-39.0K	18.7K	-18.2K	-15.2K
Net VEX	-237	-308	-109	-308	-214
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.07	0.00	0.20	0.20	0.00
Total Volume	1.2	0	12	12	0
Total OI	236.4	83	365	356	83

Daily Data (20 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
2008-02-01	$21.03	$25.00	64.6%	18.5%	73.1%	67.8%	66.7%	0.0%	-27.1%	3.2K	-18.2K	-308	0.20	59.15	N/A	N/A	10	2	340	16
2008-02-04	$20.54	$25.00	59.1%	17.0%	72.9%	59.7%	0.0%	0.0%	-16.3%	1.6K	-252	-210	0.00	69.16	N/A	N/A	10	0	340	14
2008-02-05	$21.06	$25.00	56.9%	16.3%	74.7%	56.5%	0.0%	0.0%	-13.4%	2.1K	-10.4K	-267	0.00	70.58	N/A	N/A	1	0	350	14
2008-02-06	$19.64	$25.00	61.6%	17.7%	47.2%	63.4%	0.0%	0.0%	-42.7%	1.2K	16.9K	-109	0.00	73.06	N/A	N/A	0	0	350	14
2008-02-07	$19.74	$25.00	80.0%	22.9%	39.3%	90.4%	0.0%	0.0%	-45.6%	1.2K	18.7K	-109	0.00	74.99	N/A	N/A	0	1	350	15
2008-02-08	$19.69	$25.00	71.8%	20.6%	37.8%	78.3%	0.0%	0.0%	-11.8%	1.6K	-799	-194	0.00	33.32	N/A	N/A	0	0	350	13
2008-02-11	$20.76	$25.00	78.2%	10.0%	42.4%	87.8%	0.0%	0.0%	0.0%	2.0K	-6.8K	-229	0.00	105.43	N/A	N/A	0	0	350	13
2008-02-12	$20.92	$25.00	95.0%	10.0%	42.6%	100.0%	0.0%	0.0%	0.0%	2.1K	-10.0K	-255	0.00	104.15	N/A	N/A	0	0	350	13
2008-02-13	$21.81	$25.00	87.4%	12.4%	45.4%	90.0%	0.0%	0.0%	0.0%	2.3K	-19.1K	-285	0.00	98.40	N/A	N/A	0	0	350	13
2008-02-14	$21.05	$25.00	132.6%	10.4%	45.5%	100.0%	0.0%	0.0%	0.0%	2.1K	-15.0K	-277	0.00	98.23	N/A	N/A	0	0	350	13
2008-02-15	$21.17	$25.00	155.4%	10.3%	44.1%	100.0%	0.0%	0.0%	0.0%	2.2K	-15.4K	-276	0.00	98.24	N/A	N/A	0	0	350	13
2008-02-19	$21.25	$25.00	36.0%	10.3%	42.0%	12.8%	0.0%	0.0%	0.0%	2.9K	-31.8K	-277	0.00	108.52	N/A	N/A	0	0	75	8
2008-02-20	$21.45	$25.00	35.5%	10.2%	41.2%	12.5%	0.0%	0.0%	0.0%	2.4K	-28.3K	-272	0.00	99.40	N/A	N/A	0	0	75	8
2008-02-21	$20.82	$25.00	34.4%	9.9%	42.1%	11.6%	0.0%	0.0%	0.0%	2.1K	-15.4K	-221	0.00	107.56	N/A	N/A	0	0	75	8
2008-02-22	$20.66	$25.00	34.8%	10.0%	42.1%	11.9%	0.0%	0.0%	0.0%	2.0K	-14.0K	-219	0.00	107.06	N/A	N/A	0	0	75	8
2008-02-25	$21.26	$25.00	34.0%	9.7%	43.2%	11.3%	0.0%	0.0%	0.0%	2.3K	-19.7K	-239	0.00	106.30	N/A	N/A	0	0	75	8
2008-02-26	$21.49	$25.00	33.5%	9.6%	43.3%	11.0%	0.0%	0.0%	0.0%	3.2K	-24.8K	-243	0.00	117.83	N/A	N/A	0	0	75	8
2008-02-27	$22.56	$25.00	39.9%	11.4%	46.2%	15.6%	0.0%	0.0%	0.0%	2.9K	-39.0K	-297	0.00	101.06	N/A	N/A	0	0	75	8
2008-02-28	$21.47	$25.00	34.4%	9.9%	50.0%	11.6%	0.0%	0.0%	0.0%	2.5K	-23.2K	-237	0.00	105.08	N/A	N/A	0	0	75	8
2008-02-29	$20.97	$25.00	34.5%	9.9%	50.8%	11.7%	0.0%	0.0%	0.0%	2.2K	-15.2K	-214	0.00	107.45	N/A	N/A	0	0	75	8