VZ Options History — February 2013

In February 2013, VZ traded between $44.32 and $46.53. ATM implied volatility averaged 14.5%, placing in the 21.7% IV rank vs the trailing year. The 30-day expected move averaged 3.9%. IV traded above realized volatility by 0.7% (HV 20d: 13.7%). Max pain ranged from $42.00 to $43.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 19 of 19 days. Put/call ratio averaged 0.67.

Notable Days

2013-02-20: Highest Volume — 49,113 contracts
2013-02-25: Largest IV spike — 51.5% change
2013-02-25: Highest IV Rank — 55.7%
2013-02-25: Largest Expected Move — 4.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.94	$44.32	$46.53	$44.56	$46.53
Max Pain	$42.89	$42.00	$43.00	$42.00	$43.00
ATM IV	14.5%	12.2%	20.0%	14.0%	13.5%
Expected Move	3.9%	3.5%	4.4%	4.0%	3.6%
HV 20d	13.7%	9.4%	21.4%	21.4%	9.4%
HV 60d	16.7%	15.3%	18.6%	18.6%	15.3%
IV Rank	21.7%	7.5%	55.7%	18.5%	15.6%
IV Percentile	36.5%	9.5%	94.4%	31.0%	22.6%
Term Structure	1.4%	0.6%	2.1%	0.8%	1.5%
VWIV	14.1%	12.2%	16.5%	14.5%	13.5%
Skew 25d	2.8%	1.9%	3.5%	2.9%	1.9%
Skew 10d	7.2%	5.2%	9.6%	5.9%	5.6%
Call IV 25d	12.9%	11.6%	14.7%	13.2%	12.7%
Put IV 25d	15.6%	14.2%	17.9%	16.1%	14.6%
Bid-Ask Spread %	8.37	3.84	11.23	9.24	11.04
Gamma HHI	0.21	0.17	0.25	0.19	0.17
Net GEX	32.2M	27.5M	40.2M	27.5M	35.5M
Net DEX	-339.0M	-580.7M	-214.2M	-317.1M	-580.7M
Net VEX	-3.9M	-4.1M	-3.7M	-3.9M	-4.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.26	2.17	0.43	1.25
Total Volume	22,584.263	8,344	49,113	40,104	32,848
Total OI	543,502.368	483,197	576,651	536,690	549,942

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	$44.56	$42.00	14.0%	4.0%	21.4%	18.5%	14.5%	2.9%	0.8%	27.5M	-317.1M	-3.9M	0.43	9.24	N/A	N/A	28,122	11,982	284,211	252,479
2013-02-04	$44.52	$42.00	17.6%	4.1%	21.3%	40.6%	15.1%	2.7%	0.6%	28.7M	-294.7M	-4.0M	0.69	7.23	N/A	N/A	10,747	7,379	286,097	252,976
2013-02-05	$44.56	$43.00	16.4%	3.9%	21.1%	33.2%	14.6%	2.8%	1.4%	30.4M	-300.3M	-3.9M	0.71	5.46	N/A	N/A	7,158	5,095	289,443	255,515
2013-02-06	$44.75	$43.00	12.9%	4.0%	16.3%	11.9%	14.6%	3.0%	1.1%	31.9M	-327.0M	-4.0M	0.81	8.09	N/A	N/A	7,421	5,992	291,081	256,727
2013-02-07	$44.46	$43.00	15.0%	4.3%	16.5%	25.2%	16.5%	2.9%	0.9%	28.7M	-269.6M	-3.9M	2.17	9.70	N/A	N/A	4,791	10,417	293,476	259,110
2013-02-08	$44.35	$43.00	13.6%	3.9%	15.9%	16.5%	12.8%	3.1%	1.8%	29.3M	-245.5M	-3.9M	0.27	7.06	N/A	N/A	19,770	5,419	295,718	265,531
2013-02-11	$44.32	$43.00	13.7%	3.9%	15.7%	16.9%	14.8%	3.4%	1.6%	30.9M	-241.7M	-3.9M	0.77	7.33	N/A	N/A	4,715	3,629	304,242	265,553
2013-02-12	$44.44	$43.00	13.4%	3.9%	14.2%	15.3%	13.1%	2.8%	1.7%	37.2M	-290.8M	-3.8M	0.70	6.62	N/A	N/A	6,853	4,765	305,874	266,581
2013-02-13	$44.52	$43.00	12.2%	3.5%	12.8%	7.5%	13.0%	2.8%	1.5%	40.2M	-304.3M	-3.8M	0.61	3.84	N/A	N/A	7,472	4,559	309,090	267,561
2013-02-14	$44.33	$43.00	13.4%	3.8%	12.0%	15.1%	12.9%	3.5%	1.6%	33.1M	-252.5M	-3.8M	0.36	7.59	N/A	N/A	9,225	3,336	307,422	267,040
2013-02-15	$44.40	$43.00	13.3%	3.8%	11.2%	14.4%	12.8%	2.5%	2.0%	30.4M	-268.4M	-3.8M	0.48	8.12	N/A	N/A	16,497	7,992	308,129	268,165
2013-02-19	$44.50	$43.00	13.1%	3.8%	10.9%	13.4%	12.2%	2.6%	1.8%	28.1M	-214.2M	-3.7M	0.26	11.23	N/A	N/A	17,540	4,480	258,821	224,376
2013-02-20	$44.92	$43.00	13.6%	3.9%	10.9%	15.9%	14.4%	3.1%	1.2%	29.3M	-292.8M	-3.9M	0.41	9.67	N/A	N/A	34,878	14,235	268,814	225,842
2013-02-21	$45.12	$43.00	14.3%	4.1%	10.7%	20.9%	14.4%	2.7%	1.4%	36.2M	-339.7M	-4.0M	0.54	11.21	N/A	N/A	19,471	10,422	285,008	234,939
2013-02-22	$45.40	$43.00	13.2%	3.9%	10.4%	14.0%	13.0%	2.3%	1.8%	35.9M	-406.2M	-4.1M	0.34	9.38	N/A	N/A	17,708	5,949	288,045	239,762
2013-02-25	$45.72	$43.00	20.0%	4.4%	10.5%	55.7%	16.3%	3.3%	0.6%	30.8M	-429.0M	-4.1M	0.82	11.17	N/A	N/A	18,755	15,386	282,147	239,529
2013-02-26	$46.12	$43.00	17.2%	4.2%	10.6%	38.0%	15.6%	2.6%	1.4%	31.6M	-500.6M	-4.1M	0.73	6.53	N/A	N/A	12,971	9,468	286,598	248,922
2013-02-27	$46.35	$43.00	14.7%	3.8%	9.4%	23.1%	13.4%	2.1%	2.1%	35.5M	-565.9M	-3.9M	0.47	8.45	N/A	N/A	14,761	6,893	290,113	251,666
2013-02-28	$46.53	$43.00	13.5%	3.6%	9.4%	15.6%	13.5%	1.9%	1.5%	35.5M	-580.7M	-4.1M	1.25	11.04	N/A	N/A	14,572	18,276	294,147	255,795