WWW Options History — February 2015

In February 2015, WWW traded between $27.71 and $30.60. ATM implied volatility averaged 30.9%, placing in the 19.5% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded below realized volatility by 1.1% (HV 20d: 31.9%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 18 of 18 trading days. Term structure was in contango for 7 of 18 days. Put/call ratio averaged 1.71.

Notable Days

2015-02-13: Highest Volume — 1,216 contracts
2015-02-11: Largest IV drop — 32.2% change
2015-02-09: Highest IV Rank — 38.6%
2015-02-03: Largest Expected Move — 11.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.05	$27.71	$30.60	$28.36	$30.60
Max Pain	$25.83	$25.00	$30.00	$30.00	$25.00
ATM IV	30.9%	21.4%	42.0%	33.4%	25.4%
Expected Move	8.3%	6.1%	11.1%	9.6%	7.3%
HV 20d	31.9%	27.7%	36.0%	32.3%	33.1%
HV 60d	26.0%	24.5%	28.2%	24.6%	27.1%
IV Rank	19.5%	3.3%	38.6%	23.8%	10.2%
IV Percentile	43.5%	2.0%	85.7%	57.1%	20.6%
Term Structure	-1.2%	-8.0%	6.6%	-6.0%	1.6%
VWIV	29.5%	21.5%	38.8%	38.8%	25.5%
Skew 25d	9.7%	-4.9%	56.6%	3.7%	3.8%
Skew 10d	12.6%	-2.3%	80.5%	5.2%	10.1%
Call IV 25d	29.8%	21.8%	38.7%	38.7%	26.7%
Put IV 25d	39.6%	24.3%	80.7%	42.5%	30.5%
Bid-Ask Spread %	95.80	86.15	104.69	95.25	103.95
Gamma HHI	0.50	0.37	0.96	0.40	0.43
Net GEX	98.0K	22.4K	641.1K	28.7K	33.8K
Net DEX	-2.0M	-3.5M	-1.2M	-1.4M	-2.6M
Net VEX	-6.2K	-7.2K	-4.4K	-7.2K	-4.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.71	0.00	5.94	0.92	5.94
Total Volume	246.278	19	1,216	23	118
Total OI	2,178.333	1,859	3,047	1,859	2,016

Daily Data (18 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	$28.36	$30.00	33.4%	9.6%	32.3%	23.8%	38.8%	3.7%	-6.0%	28.7K	-1.4M	-7.2K	0.92	95.25	N/A	N/A	12	11	1,201	658
2015-02-03	$28.92	$30.00	38.7%	11.1%	32.9%	32.9%	38.5%	10.2%	-8.0%	34.1K	-1.6M	-7.0K	1.68	93.02	N/A	N/A	132	222	1,213	669
2015-02-04	$28.86	$30.00	38.2%	10.9%	31.6%	32.0%	38.2%	-4.9%	-8.0%	33.7K	-1.6M	-6.9K	1.68	97.87	N/A	N/A	132	222	1,213	669
2015-02-05	$29.03	$25.00	38.8%	8.8%	31.5%	33.2%	31.6%	7.5%	-1.5%	35.5K	-1.7M	-6.7K	1.94	96.75	N/A	N/A	134	260	1,213	669
2015-02-06	$28.45	$25.00	39.4%	9.1%	31.1%	34.1%	33.0%	1.9%	-2.5%	30.4K	-1.5M	-7.1K	0.66	92.71	N/A	N/A	134	89	1,213	717
2015-02-09	$27.71	$25.00	42.0%	9.1%	31.4%	38.6%	33.2%	8.7%	-2.4%	30.3K	-1.2M	-7.0K	0.74	91.57	N/A	N/A	116	86	1,213	717
2015-02-10	$27.94	$25.00	39.1%	8.9%	31.7%	33.6%	31.2%	7.6%	-2.8%	28.6K	-1.2M	-7.0K	0.75	92.28	N/A	N/A	116	87	1,211	717
2015-02-11	$28.00	$25.00	26.5%	7.6%	29.5%	12.1%	27.3%	6.3%	-3.7%	31.5K	-1.3M	-6.8K	1.98	91.96	N/A	N/A	44	87	1,211	717
2015-02-12	$28.44	$25.00	32.0%	9.2%	28.5%	21.5%	29.6%	5.0%	-1.8%	31.0K	-1.4M	-6.8K	1.24	95.30	N/A	N/A	70	87	1,211	717
2015-02-13	$28.96	$25.00	34.3%	9.8%	27.7%	25.3%	30.6%	11.7%	-3.3%	30.2K	-1.8M	-5.9K	0.08	86.36	N/A	N/A	1,125	91	1,223	717
2015-02-17	$28.18	$25.00	23.6%	6.8%	29.6%	7.1%	28.8%	10.6%	-1.4%	125.4K	-2.3M	-6.8K	1.16	86.15	N/A	N/A	95	110	2,248	721
2015-02-18	$29.92	$25.00	26.1%	7.5%	35.7%	11.5%	26.2%	3.6%	1.7%	526.8K	-3.5M	-6.1K	1.33	92.76	N/A	N/A	98	130	2,268	742
2015-02-19	$29.67	$25.00	25.4%	7.3%	36.0%	10.2%	25.6%	-1.3%	2.3%	641.1K	-2.8M	-6.0K	3.57	100.37	N/A	N/A	7	25	2,295	749
2015-02-20	$29.68	$25.00	21.4%	6.1%	33.2%	3.3%	21.5%	56.6%	6.6%	22.4K	-2.2M	-4.9K	0.00	102.89	N/A	N/A	19	0	2,300	747
2015-02-23	$29.88	$25.00	21.9%	6.3%	33.1%	4.2%	21.9%	40.6%	1.9%	25.9K	-2.3M	-4.8K	0.56	102.32	N/A	N/A	190	106	1,280	721
2015-02-25	$30.14	$25.00	24.8%	7.1%	32.9%	9.2%	24.9%	2.5%	2.5%	38.6K	-2.5M	-4.6K	1.51	98.19	N/A	N/A	70	106	1,295	721
2015-02-26	$30.21	$25.00	24.7%	7.1%	32.9%	9.0%	25.3%	1.3%	3.1%	36.3K	-2.5M	-4.7K	5.00	104.69	N/A	N/A	17	85	1,297	721
2015-02-27	$30.60	$25.00	25.4%	7.3%	33.1%	10.2%	25.5%	3.8%	1.6%	33.8K	-2.6M	-4.4K	5.94	103.95	N/A	N/A	17	101	1,299	717