VSAT Options History — February 2013

In February 2013, VSAT traded between $37.87 and $49.29. ATM implied volatility averaged 35.7%, placing in the 25.4% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded below realized volatility by 32.5% (HV 20d: 68.1%). Max pain ranged from $40.00 to $50.00. Net GEX was positive for 1 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.40.

Notable Days

2013-02-07: Highest Volume — 1,298 contracts
2013-02-07: Largest IV drop — 38.9% change
2013-02-06: Highest IV Rank — 57.6%
2013-02-11: Largest Expected Move — 10.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$45.32	$37.87	$49.29	$38.26	$46.96
Max Pain	$45.79	$40.00	$50.00	$40.00	$50.00
ATM IV	35.7%	24.2%	54.7%	33.4%	31.8%
Expected Move	9.5%	6.9%	10.3%	9.6%	9.1%
HV 20d	68.1%	19.8%	81.5%	19.8%	80.8%
HV 60d	45.3%	23.2%	50.7%	28.5%	50.4%
IV Rank	25.4%	6.0%	57.6%	21.6%	18.9%
IV Percentile	49.5%	2.8%	94.8%	45.2%	29.8%
Term Structure	0.7%	-2.8%	16.1%	1.2%	1.6%
VWIV	32.2%	18.8%	42.3%	36.8%	18.8%
Skew 25d	7.4%	1.1%	15.8%	8.0%	14.4%
Skew 10d	11.5%	-5.9%	59.9%	10.3%	59.9%
Call IV 25d	27.2%	19.1%	33.9%	28.6%	19.1%
Put IV 25d	34.7%	30.1%	40.5%	36.6%	33.5%
Bid-Ask Spread %	94.05	68.12	120.09	94.57	103.92
Gamma HHI	0.46	0.32	0.89	0.89	0.57
Net GEX	-24.7K	-50.1K	8.0K	-46.9K	-29.8K
Net DEX	-481.6K	-1.9M	468.8K	401.7K	-114.0K
Net VEX	-2.9K	-3.6K	-950	-3.2K	-2.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.00	2.61	0.00	0.00
Total Volume	162.842	0	1,298	0	10
Total OI	1,286.789	756	1,681	756	1,263

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2013-02-01	$38.26	$40.00	33.4%	9.6%	19.8%	21.6%	0.0%	8.0%	1.2%	-46.9K	401.7K	-3.2K	0.00	94.57	N/A	N/A	0	0	113	643
2013-02-04	$37.87	$40.00	46.3%	9.6%	19.9%	43.4%	0.0%	6.5%	-0.3%	-50.1K	468.8K	-3.2K	0.00	92.78	N/A	N/A	221	1	113	643
2013-02-05	$39.09	$40.00	52.5%	10.2%	22.9%	53.8%	36.8%	9.0%	-0.9%	-7.2K	-38.4K	-3.6K	0.32	94.77	N/A	N/A	62	20	332	644
2013-02-06	$39.74	$40.00	54.7%	10.3%	23.6%	57.6%	42.3%	13.8%	-1.2%	-203	-254.9K	-3.5K	1.29	92.17	N/A	N/A	52	67	364	654
2013-02-07	$49.29	$40.00	33.5%	9.6%	79.4%	21.6%	33.7%	1.1%	-1.8%	8.0K	-1.9M	-950	0.53	68.12	N/A	N/A	851	447	412	663
2013-02-08	$47.36	$45.00	33.0%	9.5%	79.9%	20.8%	32.3%	5.4%	0.7%	-37.0K	-1.8M	-3.0K	0.17	87.56	N/A	N/A	646	113	643	1,038
2013-02-11	$47.25	$45.00	35.9%	10.3%	79.9%	25.8%	31.6%	5.1%	-2.8%	-26.9K	-910.3K	-3.4K	2.61	91.53	N/A	N/A	23	60	552	1,084
2013-02-12	$47.11	$45.00	34.8%	10.0%	80.0%	24.0%	29.4%	4.8%	-0.9%	-22.6K	-936.1K	-3.2K	0.00	90.27	N/A	N/A	0	85	561	1,068
2013-02-13	$47.31	$45.00	33.3%	9.6%	80.0%	21.4%	0.0%	4.1%	-0.3%	-23.7K	-973.7K	-3.0K	0.00	79.44	N/A	N/A	16	0	561	1,066
2013-02-14	$47.18	$45.00	34.8%	10.0%	80.0%	23.9%	0.0%	4.4%	-0.5%	-20.4K	-985.0K	-3.1K	0.00	93.70	N/A	N/A	0	25	575	1,060
2013-02-15	$46.87	$45.00	34.0%	9.7%	80.3%	22.5%	32.0%	3.2%	0.5%	-22.9K	-870.6K	-3.2K	0.15	91.06	N/A	N/A	72	11	575	1,085
2013-02-19	$47.86	$50.00	24.2%	6.9%	80.3%	6.0%	0.0%	15.8%	16.1%	-23.5K	-708.9K	-3.1K	0.07	120.09	N/A	N/A	30	2	401	888
2013-02-20	$46.65	$50.00	32.5%	9.3%	81.2%	19.9%	32.8%	5.6%	1.4%	-25.7K	-378.1K	-2.9K	0.06	90.09	N/A	N/A	163	10	388	890
2013-02-21	$46.69	$50.00	33.8%	9.7%	80.9%	22.2%	0.0%	3.8%	0.5%	-27.3K	-45.2K	-2.9K	0.00	98.80	N/A	N/A	0	0	327	900
2013-02-22	$46.74	$50.00	27.9%	8.0%	80.9%	12.2%	0.0%	6.4%	0.7%	-29.5K	-90.9K	-2.8K	0.00	107.97	N/A	N/A	0	0	327	900
2013-02-25	$45.85	$50.00	34.0%	9.7%	81.4%	22.5%	18.8%	12.3%	-0.5%	-28.3K	90.0K	-2.7K	0.00	95.48	N/A	N/A	0	60	327	900
2013-02-26	$46.04	$50.00	33.7%	9.7%	81.4%	22.1%	0.0%	8.6%	-1.1%	-29.4K	56.6K	-2.7K	0.00	94.35	N/A	N/A	46	0	327	900
2013-02-27	$46.99	$50.00	33.4%	9.6%	81.5%	21.6%	0.0%	9.1%	1.6%	-25.6K	-172.3K	-2.8K	0.00	100.24	N/A	N/A	1	0	362	900
2013-02-28	$46.96	$50.00	31.8%	9.1%	80.8%	18.9%	0.0%	14.4%	1.6%	-29.8K	-114.0K	-2.6K	0.00	103.92	N/A	N/A	10	0	363	900