VSAT Options History — November 2015

In November 2015, VSAT traded between $59.63 and $66.30. ATM implied volatility averaged 32.6%, placing in the 17.9% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded above realized volatility by 1.1% (HV 20d: 31.5%). Max pain ranged from $60.00 to $65.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 2.98.

Notable Days

2015-11-11: Highest Volume — 498 contracts
2015-11-10: Largest IV drop — 35.2% change
2015-11-09: Highest IV Rank — 36.2%
2015-11-04: Largest Expected Move — 12.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$62.61	$59.63	$66.30	$66.28	$61.98
Max Pain	$61.32	$60.00	$65.00	$65.00	$60.00
ATM IV	32.6%	23.8%	48.8%	41.1%	29.8%
Expected Move	8.7%	6.8%	12.0%	11.8%	8.6%
HV 20d	31.5%	28.2%	34.2%	31.7%	29.2%
HV 60d	29.6%	27.8%	30.9%	28.9%	30.1%
IV Rank	17.9%	7.9%	36.2%	27.5%	14.8%
IV Percentile	60.8%	21.8%	92.1%	84.9%	57.9%
Term Structure	-0.7%	-8.4%	3.9%	-8.4%	-2.4%
VWIV	30.4%	26.0%	43.6%	41.0%	32.2%
Skew 25d	4.8%	0.8%	16.8%	2.8%	0.8%
Skew 10d	7.8%	-1.8%	17.8%	7.6%	2.6%
Call IV 25d	29.2%	24.6%	44.5%	41.9%	28.4%
Put IV 25d	34.0%	29.2%	61.3%	44.7%	29.2%
Bid-Ask Spread %	95.56	86.73	108.09	87.95	102.75
Gamma HHI	0.49	0.20	0.85	0.20	0.40
Net GEX	-28.4K	-173.0K	22.7K	20.2K	13.9K
Net DEX	-251.5K	-1.1M	815.6K	-1.1M	-356.3K
Net VEX	-4.1K	-4.9K	-2.9K	-4.5K	-2.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.98	0.00	22.30	0.54	2.00
Total Volume	274.632	0	498	185	3
Total OI	1,301.316	1,133	1,471	1,133	1,160

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
2015-11-02	$66.28	$65.00	41.1%	11.8%	31.7%	27.5%	41.0%	2.8%	-8.4%	20.2K	-1.1M	-4.5K	0.54	87.95	N/A	N/A	120	65	419	714
2015-11-04	$65.18	$65.00	41.9%	12.0%	30.1%	28.4%	43.6%	16.8%	-8.2%	21.2K	-1.1M	-4.2K	0.52	98.71	N/A	N/A	124	65	425	714
2015-11-05	$66.07	$65.00	43.4%	9.5%	29.8%	30.1%	32.5%	3.5%	-1.4%	22.7K	-1.1M	-4.3K	1.08	89.86	N/A	N/A	125	135	425	714
2015-11-06	$66.30	$65.00	44.0%	9.6%	29.4%	30.7%	0.0%	4.0%	-2.3%	20.4K	-1.1M	-4.8K	0.00	86.73	N/A	N/A	0	12	427	779
2015-11-09	$66.00	$65.00	48.8%	9.7%	29.3%	36.2%	27.4%	4.8%	-2.9%	17.6K	-1.0M	-4.7K	22.30	86.92	N/A	N/A	10	223	427	787
2015-11-10	$63.01	$60.00	31.6%	7.7%	33.0%	16.8%	29.4%	5.8%	1.8%	-49.2K	27.4K	-4.9K	3.04	94.16	N/A	N/A	121	368	432	1,014
2015-11-11	$62.65	$60.00	23.8%	6.8%	28.2%	7.9%	28.3%	4.0%	-0.2%	-43.9K	-39.6K	-4.7K	3.12	108.09	N/A	N/A	121	377	436	989
2015-11-12	$60.23	$60.00	27.5%	7.9%	31.0%	12.2%	26.5%	4.9%	3.9%	-105.1K	649.8K	-4.5K	2.88	88.32	N/A	N/A	115	331	438	1,009
2015-11-13	$59.63	$60.00	27.9%	8.0%	30.3%	12.6%	30.0%	3.0%	2.5%	-81.0K	815.6K	-4.4K	2.78	100.32	N/A	N/A	123	342	448	1,008
2015-11-16	$62.03	$60.00	29.9%	8.6%	34.2%	14.8%	26.7%	7.5%	0.1%	-69.6K	104.4K	-4.4K	0.00	95.21	N/A	N/A	24	0	446	1,007
2015-11-17	$61.35	$60.00	28.7%	8.2%	34.1%	13.5%	26.8%	3.2%	2.6%	-87.5K	273.5K	-4.2K	2.61	94.93	N/A	N/A	131	342	454	1,012
2015-11-18	$61.16	$60.00	27.9%	8.0%	33.8%	12.6%	28.0%	3.2%	3.0%	-119.9K	269.3K	-3.9K	2.61	100.53	N/A	N/A	131	342	459	1,012
2015-11-19	$60.81	$60.00	28.5%	8.2%	33.7%	13.3%	26.0%	4.5%	2.4%	-173.0K	378.4K	-3.7K	2.49	91.05	N/A	N/A	133	331	459	1,012
2015-11-20	$61.74	$60.00	28.7%	8.2%	33.1%	13.5%	31.2%	4.2%	0.9%	18.0K	-192.2K	-3.8K	2.56	98.40	N/A	N/A	133	341	462	1,001
2015-11-23	$60.82	$60.00	28.6%	8.2%	32.9%	13.4%	27.0%	2.0%	-0.0%	14.8K	-325.1K	-3.5K	0.00	96.74	N/A	N/A	5	0	404	755
2015-11-24	$61.02	$60.00	28.0%	8.0%	32.9%	12.7%	0.0%	5.1%	-0.7%	12.9K	-273.3K	-3.3K	0.00	98.81	N/A	N/A	0	0	399	755
2015-11-25	$61.45	$60.00	30.0%	8.6%	32.3%	15.0%	29.3%	7.1%	-2.5%	13.6K	-302.2K	-3.4K	1.11	97.69	N/A	N/A	125	139	399	760
2015-11-27	$61.90	$60.00	28.7%	8.2%	29.9%	13.5%	32.2%	3.8%	-2.0%	15.2K	-381.0K	-3.5K	1.09	98.54	N/A	N/A	125	136	404	760
2015-11-30	$61.98	$60.00	29.8%	8.6%	29.2%	14.8%	0.0%	0.8%	-2.4%	13.9K	-356.3K	-2.9K	2.00	102.75	N/A	N/A	1	2	404	756