WWW Options History — February 2014

In February 2014, WWW traded between $25.45 and $28.19. ATM implied volatility averaged 34.3%, placing in the 58.0% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded below realized volatility by 4.3% (HV 20d: 38.6%). Max pain ranged from $27.50 to $30.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 1.49.

Notable Days

2014-02-14: Highest Volume — 1,016 contracts
2014-02-10: Largest IV spike — 41.3% change
2014-02-10: Highest IV Rank — 100.0%
2014-02-05: Largest Expected Move — 12.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.54	$25.45	$28.19	$26.37	$26.36
Max Pain	$28.95	$27.50	$30.00	$30.00	$27.50
ATM IV	34.3%	23.3%	51.5%	36.9%	29.5%
Expected Move	9.2%	6.7%	12.5%	10.6%	8.5%
HV 20d	38.6%	29.3%	45.1%	32.6%	45.0%
HV 60d	30.1%	27.1%	33.9%	27.5%	32.6%
IV Rank	58.0%	28.9%	100.0%	68.2%	44.4%
IV Percentile	84.6%	33.3%	100.0%	97.2%	74.6%
Term Structure	-1.3%	-11.5%	9.2%	-5.8%	2.5%
VWIV	30.0%	19.6%	43.9%	37.1%	19.6%
Skew 25d	5.7%	-4.1%	10.2%	10.2%	4.0%
Skew 10d	11.8%	-4.6%	24.2%	10.4%	12.9%
Call IV 25d	28.9%	22.2%	34.5%	26.7%	25.6%
Put IV 25d	34.5%	27.7%	43.0%	36.9%	29.6%
Bid-Ask Spread %	95.90	72.20	116.94	94.20	94.59
Gamma HHI	0.33	0.23	0.41	0.23	0.40
Net GEX	51.2K	11.8K	99.9K	11.8K	88.5K
Net DEX	606.7K	-321.9K	1.1M	1.1M	74.6K
Net VEX	-7.2K	-11.2K	-5.1K	-5.1K	-8.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.49	0.00	20.33	0.31	20.33
Total Volume	163.895	3	1,016	192	64
Total OI	3,094.211	2,138	4,298	2,138	3,496

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
2014-02-03	$26.37	$30.00	36.9%	10.6%	32.6%	68.2%	37.1%	10.2%	-5.8%	11.8K	1.1M	-5.1K	0.31	94.20	N/A	N/A	147	45	1,300	838
2014-02-04	$26.29	$30.00	39.5%	11.3%	32.6%	75.3%	0.0%	7.3%	-11.5%	13.9K	1.1M	-5.1K	0.00	116.94	N/A	N/A	88	0	1,408	873
2014-02-05	$25.91	$30.00	43.7%	12.5%	31.9%	86.8%	43.9%	7.0%	-8.3%	16.6K	1.1M	-5.5K	0.81	108.56	N/A	N/A	43	35	1,485	873
2014-02-06	$26.12	$30.00	40.9%	11.7%	32.8%	79.2%	0.0%	9.2%	-4.3%	17.4K	1.1M	-5.4K	0.00	112.11	N/A	N/A	13	0	1,513	887
2014-02-07	$26.99	$30.00	36.5%	8.6%	36.4%	67.0%	30.2%	9.5%	-1.5%	23.1K	1.0M	-5.4K	0.00	97.75	N/A	N/A	47	0	1,521	887
2014-02-10	$26.85	$30.00	51.5%	8.6%	36.2%	100.0%	0.0%	7.4%	-3.4%	22.6K	906.9K	-5.8K	0.00	104.58	N/A	N/A	3	0	1,509	887
2014-02-11	$27.13	$30.00	39.3%	8.3%	36.8%	69.1%	29.0%	9.3%	-0.6%	25.5K	916.8K	-5.5K	5.00	98.73	N/A	N/A	4	20	1,511	887
2014-02-12	$27.63	$30.00	36.8%	8.6%	29.3%	62.7%	28.9%	2.5%	-1.0%	26.8K	691.7K	-6.4K	0.02	86.57	N/A	N/A	49	1	1,511	907
2014-02-13	$28.19	$30.00	31.7%	9.1%	30.6%	50.1%	32.1%	9.1%	-3.4%	25.5K	353.9K	-7.1K	0.00	101.00	N/A	N/A	758	0	1,553	908
2014-02-14	$28.02	$30.00	32.2%	9.2%	29.7%	51.1%	31.6%	7.7%	-3.5%	66.7K	-321.9K	-11.2K	0.03	90.96	N/A	N/A	984	32	2,287	908
2014-02-18	$25.45	$30.00	29.6%	8.5%	44.3%	44.6%	29.3%	-4.1%	2.4%	53.5K	905.1K	-7.5K	0.60	72.20	N/A	N/A	220	132	3,187	933
2014-02-19	$25.67	$27.50	30.5%	8.8%	44.6%	47.0%	29.3%	7.2%	0.7%	55.2K	773.3K	-7.9K	0.25	91.07	N/A	N/A	118	30	3,334	964
2014-02-20	$26.01	$27.50	31.3%	9.0%	45.1%	48.9%	0.0%	3.9%	-2.9%	74.1K	609.7K	-7.8K	0.00	97.86	N/A	N/A	15	0	3,309	954
2014-02-21	$26.12	$27.50	30.6%	8.8%	45.1%	47.3%	21.2%	2.7%	-2.1%	81.3K	503.4K	-8.1K	0.13	94.51	N/A	N/A	31	4	3,324	954
2014-02-24	$26.13	$27.50	31.8%	9.1%	45.1%	50.3%	27.3%	3.6%	0.5%	87.5K	259.7K	-8.5K	0.00	87.92	N/A	N/A	54	0	2,609	832
2014-02-25	$26.05	$27.50	28.3%	8.1%	45.0%	41.3%	0.0%	-0.6%	2.9%	89.3K	471.0K	-6.9K	0.41	94.72	N/A	N/A	32	13	2,621	832
2014-02-26	$26.33	$27.50	27.6%	7.9%	45.1%	39.7%	30.2%	1.9%	5.7%	93.2K	-4.6K	-9.2K	0.48	83.24	N/A	N/A	65	31	2,651	845
2014-02-27	$26.69	$27.50	23.3%	6.7%	45.1%	28.9%	19.6%	10.0%	9.2%	99.9K	-2.6K	-9.0K	0.00	94.70	N/A	N/A	36	0	2,633	859
2014-02-28	$26.36	$27.50	29.5%	8.5%	45.0%	44.4%	0.0%	4.0%	2.5%	88.5K	74.6K	-8.9K	20.33	94.59	N/A	N/A	3	61	2,637	859