VSAT Options History — February 2015

In February 2015, VSAT traded between $56.50 and $66.13. ATM implied volatility averaged 35.9%, placing in the 22.0% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 11.0% (HV 20d: 25.0%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.70.

Notable Days

2015-02-10: Highest Volume — 786 contracts
2015-02-11: Largest IV drop — 57.4% change
2015-02-10: Highest IV Rank — 51.7%
2015-02-04: Largest Expected Move — 16.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$62.14	$56.50	$66.13	$56.50	$65.50
Max Pain	$55.79	$55.00	$60.00	$60.00	$55.00
ATM IV	35.9%	22.3%	62.4%	53.6%	24.4%
Expected Move	9.2%	6.4%	16.0%	15.4%	7.0%
HV 20d	25.0%	21.7%	27.5%	23.0%	25.6%
HV 60d	24.7%	22.7%	29.1%	28.7%	24.2%
IV Rank	22.0%	6.6%	51.7%	41.9%	9.0%
IV Percentile	38.3%	2.0%	97.2%	94.4%	4.4%
Term Structure	-1.4%	-15.9%	6.5%	-10.1%	0.1%
VWIV	30.9%	23.6%	52.7%	49.6%	24.5%
Skew 25d	2.7%	0.1%	7.5%	5.6%	0.9%
Skew 10d	8.0%	-4.3%	18.1%	8.7%	3.0%
Call IV 25d	31.8%	21.5%	51.7%	51.2%	25.3%
Put IV 25d	34.5%	23.7%	58.8%	56.8%	26.1%
Bid-Ask Spread %	88.75	72.99	96.84	84.13	95.59
Gamma HHI	0.57	0.24	0.92	0.24	0.68
Net GEX	137.2K	10.0K	563.8K	10.0K	99.7K
Net DEX	-2.4M	-6.0M	-495.9K	-495.9K	-2.9M
Net VEX	-6.0K	-7.3K	-4.6K	-6.5K	-4.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.70	0.00	1.45	0.00	0.42
Total Volume	280.684	30	786	30	273
Total OI	1,362.053	1,094	1,802	1,094	1,147

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
2015-02-02	$56.50	$60.00	53.6%	15.4%	23.0%	41.9%	0.0%	5.6%	-10.1%	10.0K	-495.9K	-6.5K	0.00	84.13	N/A	N/A	30	0	613	481
2015-02-03	$57.66	$60.00	49.8%	14.3%	22.0%	37.6%	49.6%	7.5%	-13.5%	19.6K	-791.4K	-6.5K	0.76	86.28	N/A	N/A	124	94	643	481
2015-02-04	$56.69	$60.00	55.9%	16.0%	21.7%	44.4%	52.7%	7.0%	-15.9%	17.7K	-748.0K	-6.6K	1.14	80.15	N/A	N/A	126	144	646	491
2015-02-05	$57.73	$55.00	53.9%	11.0%	22.8%	42.2%	38.1%	3.3%	-3.5%	16.0K	-799.9K	-7.2K	1.15	86.65	N/A	N/A	125	144	650	541
2015-02-06	$58.74	$55.00	52.6%	11.0%	21.8%	40.8%	38.0%	1.0%	-3.7%	23.5K	-1.1M	-6.9K	1.10	72.99	N/A	N/A	130	143	652	541
2015-02-09	$59.36	$55.00	60.2%	11.3%	22.0%	49.2%	40.5%	1.7%	-5.9%	28.5K	-1.2M	-7.2K	1.38	83.29	N/A	N/A	128	177	670	550
2015-02-10	$61.53	$55.00	62.4%	11.9%	24.7%	51.7%	34.5%	3.8%	-7.3%	26.4K	-1.6M	-7.3K	0.19	80.94	N/A	N/A	662	124	671	604
2015-02-11	$60.00	$55.00	26.6%	7.6%	24.7%	11.4%	24.4%	2.9%	3.0%	78.5K	-1.5M	-6.3K	0.75	88.13	N/A	N/A	242	181	1,179	623
2015-02-12	$62.17	$55.00	25.3%	7.2%	26.8%	10.0%	25.4%	4.6%	5.7%	175.2K	-2.2M	-6.5K	1.45	91.25	N/A	N/A	137	198	1,105	587
2015-02-13	$62.76	$55.00	25.1%	7.2%	26.4%	9.7%	27.2%	4.0%	4.2%	298.6K	-2.6M	-6.8K	1.11	92.36	N/A	N/A	166	184	1,105	580
2015-02-17	$63.46	$55.00	24.6%	7.1%	26.4%	9.2%	25.6%	0.1%	3.1%	334.6K	-2.9M	-6.5K	1.32	95.87	N/A	N/A	139	184	1,109	584
2015-02-18	$64.90	$55.00	22.3%	6.4%	26.7%	6.6%	28.0%	2.1%	6.5%	563.8K	-4.2M	-6.0K	0.77	96.84	N/A	N/A	151	117	1,105	584
2015-02-19	$66.13	$55.00	25.7%	7.4%	26.9%	10.4%	25.6%	0.7%	3.8%	456.4K	-5.6M	-5.1K	0.02	91.77	N/A	N/A	105	2	1,113	584
2015-02-20	$66.08	$55.00	23.5%	6.8%	26.5%	8.0%	24.2%	1.6%	5.4%	84.5K	-6.0M	-4.9K	0.00	94.10	N/A	N/A	56	0	1,118	584
2015-02-23	$65.19	$55.00	25.0%	7.2%	27.5%	9.6%	25.1%	1.8%	-0.6%	85.5K	-2.7M	-4.8K	0.46	92.69	N/A	N/A	167	76	647	475
2015-02-24	$65.53	$55.00	23.6%	6.8%	27.5%	8.1%	24.0%	0.1%	0.7%	91.6K	-2.8M	-4.6K	0.40	92.15	N/A	N/A	192	76	647	475
2015-02-25	$65.33	$55.00	23.4%	6.7%	26.2%	7.9%	23.6%	1.1%	0.4%	101.3K	-2.8M	-4.8K	0.40	90.46	N/A	N/A	192	76	672	475
2015-02-26	$65.44	$55.00	25.1%	7.2%	25.5%	9.7%	25.1%	2.3%	0.1%	95.1K	-2.9M	-4.8K	0.40	90.56	N/A	N/A	192	76	672	475
2015-02-27	$65.50	$55.00	24.4%	7.0%	25.6%	9.0%	24.5%	0.9%	0.1%	99.7K	-2.9M	-4.7K	0.42	95.59	N/A	N/A	192	81	672	475