Reporte de Opciones

Flavia Matsuda Analista Cuantitativo @FlaviMatsuda [email protected]

miércoles, 08 de junio de 2016 Subyacente

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

ALUA

9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 9.60 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10

ALUC5.80JU ALUC5.80AG ALUC5.80OC ALUC7.60JU ALUC7.60OC ALUC8.50JU ALUC8.50AG ALUC8.50OC ALUC9.40JU ALUC9.40AG ALUC10.3JU ALUC10.75J ALUC10.75G ALUC11.2JU ALUC11.2AG ALUC12.5JU ALUV9.40JU PBRC18.4JU PBRC18.4AG PBRC18.4OC PBRC22.4JU PBRC22.4AG PBRC22.4OC PBRC26.4JU PBRC30.4JU PBRC30.4AG PBRC30.4OC PBRC34.4JU PBRC34.4AG PBRC34.4OC PBRC38.4JU PBRC38.4AG PBRC38.4OC PBRC42.4JU PBRC42.4AG PBRC42.4OC PBRC46.4JU PBRC46.4AG PBRC46.4OC PBRC50.4JU PBRC50.4AG

Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call

5.800 5.800 5.800 7.600 7.600 8.500 8.500 8.500 9.400 9.400 10.300 10.700 10.700 11.200 11.200 12.500 9.400 18.400 18.400 18.400 22.400 22.400 22.400 26.400 30.400 30.400 30.400 34.400 34.400 34.400 38.400 38.400 38.400 42.400 42.400 42.400 46.400 46.400 46.400 50.400 50.400

JU AG OC JU OC JU AG OC JU AG JU J G JU AG JU JU JU AG OC JU AG OC JU JU AG OC JU AG OC JU AG OC JU AG OC JU AG OC JU AG

8.00 71.00 127.00 8.00 127.00 8.00 71.00 127.00 8.00 71.00 8.00 8.00 71.00 8.00 71.00 8.00 8.00 8.00 71.00 127.00 8.00 71.00 127.00 8.00 8.00 71.00 127.00 8.00 71.00 127.00 8.00 71.00 127.00 8.00 71.00 127.00 8.00 71.00 127.00 8.00 71.00

3.85 4.20 0.00 0.00 0.00 0.00 1.90 0.00 0.30 0.00 0.00 0.05 0.00 0.00 0.00 0.03 0.00 0.00 0.00 0.00 26.40 0.00 0.00 22.20 18.25 0.00 0.00 14.30 0.00 17.98 10.50 13.00 0.00 6.35 8.50 0.00 2.50 5.60 5.70 0.80 3.60

12% 6% 15% 20% -29% -40% 18% 23% 28% 39% 20% 66% 67% 139% 52% 443% 65% 36% 864% 94%

3.84 4.11 4.35 2.05 2.79 1.16 1.69 2.10 0.40 1.08 0.05 0.02 0.48 0.00 0.33 0.00 0.13 30.83 31.69 32.43 26.85 27.91 28.82 22.88 18.91 20.42 21.82 14.94 16.82 18.56 10.97 13.47 15.55 7.08 10.47 12.85 3.67 7.91 10.49 1.41 5.82

-0.003 -0.021 -0.108 0.320 -0.695 -1.000 0.017 0.031 0.036 0.045 0.032 0.045 0.036 0.115 0.232 0.470 0.412 0.840 0.758 0.615

ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM

APBR

Valor Intrínseco

Cobertura %

Tasa Lanzam. %

3.80 3.80 3.80 2.00 2.00 1.10 1.10 1.10 0.20 0.20

40.10% 43.75%

0.9% 7.4%

19.79%

10.4%

3.13%

1.1%

0.52%

12.0%

0.31%

30.6%

53.77%

-1.3%

45.21% 37.17%

-1.9% -1.5%

29.12%

-1.1%

36.62% 21.38% 26.48%

10.5% -0.5% 6.4%

12.93% 17.31%

-0.8% 4.4%

5.09% 11.41% 11.61% 1.63% 7.33%

-0.4% 6.7% 6.9% 4.3% 10.8%

30.70 30.70 30.70 26.70 26.70 26.70 22.70 18.70 18.70 18.70 14.70 14.70 14.70 10.70 10.70 10.70 6.70 6.70 6.70 2.70 2.70 2.70

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

1.000 0.999 0.996 1.000 0.933 0.980 0.858 0.850 0.681 0.696 0.168 0.059 0.419 0.011 0.324 0.000 -0.319 1.000 1.000 0.999 1.000 1.000 0.996 1.000 1.000 0.985 0.966 1.000 0.955 0.929 0.997 0.899 0.876 0.955 0.816 0.809 0.767 0.711 0.731 0.437 0.596

0.000 0.001 0.006 0.000 0.056 0.080 0.130 0.101 0.583 0.202 0.410 0.193 0.226 0.049 0.208 0.000 0.583 0.000 0.000 0.000 0.000 0.000 0.001 0.000 0.000 0.003 0.004 0.000 0.007 0.008 0.002 0.014 0.012 0.021 0.021 0.016 0.067 0.026 0.019 0.086 0.030

0.000 0.000 0.001 0.000 0.007 0.001 0.010 0.013 0.005 0.015 0.004 0.002 0.017 0.000 0.015 0.000 0.005 0.000 0.000 0.001 0.000 0.000 0.003 0.000 0.000 0.008 0.022 0.000 0.021 0.039 0.001 0.039 0.060 0.007 0.058 0.079 0.024 0.075 0.096 0.030 0.084

-0.031 -0.030 -0.029 -0.041 -0.041 -0.056 -0.054 -0.047 -0.118 -0.060 -0.068 -0.031 -0.052 -0.008 -0.045 0.000 -0.068 -0.098 -0.094 -0.091 -0.120 -0.115 -0.113 -0.141 -0.163 -0.175 -0.174 -0.184 -0.222 -0.210 -0.221 -0.277 -0.245 -0.383 -0.327 -0.273 -0.728 -0.361 -0.293 -0.809 -0.370

0.001 0.011 0.018 0.002 0.022 0.002 0.013 0.021 0.002 0.011 0.000 0.000 0.007 0.000 0.005 0.000 -0.001 0.005 0.034 0.058 0.005 0.042 0.070 0.006 0.007 0.055 0.090 0.008 0.059 0.095 0.009 0.060 0.096 0.010 0.058 0.094 0.008 0.053 0.089 0.005 0.046

2.50 2.33 2.20 4.68 3.21 8.08 4.86 3.89 16.51 6.21 30.30 37.37 8.43 46.53 9.33 70.43 23.34 1.59 1.55 1.51 1.83 1.76 1.70 2.15 2.60 2.37 2.17 3.29 2.79 2.46 4.46 3.28 2.77 6.62 3.82 3.09 10.24 4.41 3.42 15.25 5.03

50% 86% 59% 21% 55% 96% 50% 50% 50% 50% 36% 50% 44% 50% 50% 50% 25% 50% 39% 33%

101635 840 36000 16924 150 90 673690 187748 189648 346741 7196 111720 27898 5456931 185363 5152991 606730 2850 1626352 386541

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

Reporte de Opciones

Subyacente

BHIP

BRIO CADO CAPX CECO2

CELU COME

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 49.10 7.05 7.05 7.05 7.05 49.95 8.58 16.75 16.75 5.72 5.72 5.72 5.72 5.72 5.72 5.72 5.72 19.60 19.60 2.88 2.88

PBRC50.4OC PBRC54.4JU PBRC54.4AG PBRC54.4OC PBRC58.4JU PBRC58.4AG PBRC62.4JU PBRC62.4AG PBRC66.4JU PBRC66.4OC PBRC70.4JU PBRC74.4JU PBRC74.4AG PBRV18.4JU PBRV18.4AG PBRV30.4JU PBRV34.4JU PBRV34.4AG PBRV38.4JU PBRV38.4AG PBRV42.4JU PBRV42.4AG PBRV46.4JU PBRV46.4AG PBRV50.4JU PBRV50.4AG PBRV54.4AG BHIC6.65JU BHIC6.65AG BHIC7.05JU BHIC7.25JU BRIC52.0JU CADC9.00OC CAPC12.0JU CAPC17.0JU CECC4.60JU CECC5.00JU CECC5.00AG CECC5.40JU CECC5.40AG CECC5.40OC CECC6.00JU CECC6.00AG CELC9.25JU CELC19.0AG COMC2.00JU COMC2.00AG

Call Call Call Call Call Call Call Call Call Call Call Call Call Put Put Put Put Put Put Put Put Put Put Put Put Put Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call

50.400 54.400 54.400 54.400 58.400 58.400 62.400 62.400 66.400 66.400 70.400 74.400 74.400 18.400 18.400 30.400 34.400 34.400 38.400 38.400 42.400 42.400 46.400 46.400 50.400 50.400 54.400 6.650 6.650 7.050 7.250 52.000 9.000 12.000 17.000 4.600 5.000 5.000 5.400 5.400 5.400 6.000 6.000 9.250 19.000 2.000 2.000

OC JU AG OC JU AG JU AG JU OC JU JU AG JU AG JU JU AG JU AG JU AG JU AG JU AG AG JU AG JU JU JU OC JU JU JU JU AG JU AG OC JU AG JU AG JU AG

127.00 8.00 71.00 127.00 8.00 71.00 8.00 71.00 8.00 127.00 8.00 8.00 71.00 8.00 71.00 8.00 8.00 71.00 8.00 71.00 8.00 71.00 8.00 71.00 8.00 71.00 71.00 8.00 71.00 8.00 8.00 8.00 127.00 8.00 8.00 8.00 8.00 71.00 8.00 71.00 127.00 8.00 71.00 8.00 71.00 8.00 71.00

0.00 0.29 2.25 0.00 0.10 0.00 0.03 0.80 0.04 0.00 0.05 0.02 0.30 0.02 0.15 0.04 0.00 0.00 0.15 0.47 0.29 1.20 0.75 2.80 2.50 0.00 0.00 0.00 0.00 0.25 0.00 0.00 0.00 5.00 0.00 0.00 0.65 0.00 0.00 0.85 0.00 0.00 0.00 0.00 0.00 0.85 1.05

867% 105% 400% 20% 60% 100% 150% 50% -73% -60% 0% 20% -6% -59% -36% -40% -64% -29% -58% 0% 0% 8% 0% 3% 3%

8.47 0.38 4.17 6.77 0.07 2.93 0.01 2.02 0.00 3.31 0.00 0.00 0.61 0.00 0.00 0.00 0.00 0.27 0.00 0.70 0.09 1.48 0.65 2.71 2.36 4.40 6.54 0.49 0.98 0.22 0.13 0.46 0.89 4.83 0.39 1.15 0.76 1.14 0.42 0.88 1.17 0.10 0.57 10.41 3.17 0.89 0.99

0.314 0.855 -0.266 -0.653 1.528 -0.972 -0.998 -1.000 1.029 -1.000 -1.000 -1.000 -0.973 0.486 -0.697 0.237 -0.128 -0.033 -0.057 -0.134 -0.033 0.175 0.037 0.058 -0.059

OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ATM OTM OTM OTM ITM OTM ITM ITM ITM ITM ITM ITM OTM OTM ITM ITM ITM ITM

Valor Intrínseco

Cobertura %

Tasa Lanzam. %

0.59% 4.58%

11.5% 16.1%

0.20%

19.2%

0.06% 1.63% 0.08%

27.2% 29.2% 35.3%

0.10% 0.03% 0.61%

43.5% 51.6% 52.5%

3.55%

3.7%

29.85%

2.1%

11.36%

-1.4%

14.86%

10.9%

29.34% 36.46%

-1.7% 9.3%

1.30 1.30 5.30 0.40 0.40

4.75 1.12 0.72 0.72 0.32 0.32 0.32

10.35 0.60 0.88 0.88

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

0.649 0.164 0.481 0.565 0.041 0.376 0.007 0.285 0.001 0.344 0.000 0.000 0.109 0.000 0.000 0.000 0.000 -0.045 -0.003 -0.101 -0.045 -0.184 -0.233 -0.289 -0.563 -0.404 -0.519 0.839 0.754 0.554 0.392 0.280 0.639 1.000 0.467 0.996 0.955 0.818 0.788 0.722 0.741 0.331 0.561 1.000 0.669 1.000 1.000

0.021 0.054 0.031 0.023 0.019 0.029 0.004 0.026 0.001 0.021 0.000 0.000 0.014 0.000 0.000 0.000 0.000 0.007 0.002 0.014 0.021 0.021 0.067 0.026 0.086 0.030 0.031 0.507 0.232 0.822 0.799 0.124 0.222 0.000 0.349 0.023 0.193 0.191 0.594 0.243 0.176 0.743 0.286 0.000 0.061 0.000 0.005

0.108 0.019 0.087 0.114 0.007 0.083 0.002 0.074 0.000 0.107 0.000 0.000 0.041 0.000 0.000 0.000 0.000 0.021 0.001 0.039 0.007 0.058 0.024 0.075 0.030 0.084 0.087 0.003 0.010 0.004 0.004 0.026 0.019 0.000 0.010 0.000 0.001 0.007 0.003 0.009 0.011 0.003 0.010 0.000 0.032 0.000 0.000

-0.301 -0.481 -0.356 -0.299 -0.167 -0.323 -0.037 -0.278 -0.006 -0.247 -0.001 0.000 -0.143 0.000 0.000 0.000 0.000 -0.047 -0.015 -0.081 -0.157 -0.111 -0.480 -0.124 -0.539 -0.113 -0.078 -0.075 -0.044 -0.094 -0.086 -0.429 -0.042 -0.064 -0.216 -0.027 -0.043 -0.037 -0.077 -0.040 -0.033 -0.079 -0.041 -0.050 -0.158 -0.011 -0.010

0.082 0.002 0.038 0.074 0.000 0.031 0.000 0.024 0.000 0.048 0.000 0.000 0.009 0.000 0.000 0.000 0.000 -0.005 0.000 -0.011 -0.001 -0.021 -0.003 -0.033 -0.007 -0.048 -0.063 0.001 0.009 0.001 0.001 0.003 0.016 0.003 0.002 0.001 0.001 0.007 0.001 0.006 0.011 0.000 0.005 0.002 0.020 0.000 0.004

3.76 21.12 5.66 4.10 27.38 6.30 33.71 6.93 39.94 5.10 46.00 51.84 8.76 115.20 16.08 59.20 45.97 8.33 34.68 7.12 25.20 6.10 17.53 5.24 11.73 4.51 3.89 12.13 5.43 18.05 21.58 30.48 6.16 3.47 19.90 4.95 7.16 4.09 10.76 4.69 3.62 18.62 5.63 1.88 4.14 3.22 2.91

54% 37% 63% 68% 41% 86% 50% 50% 50% 50% 50% 50% 99% 53% 79% 54% 63% 61% 64% 51% 50% 50% 51% 50% 87%

206522 195091 35847 3255 2700 724 162 1080 4140 1500 18768 1730 5757 10159 41138 5000 333898 7390 87140 1902 2500 7072 4675 37645 52280

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

2

Reporte de Opciones

Subyacente

CRES

DGCU2 EDN

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 2.88 19.15 19.15 19.15 19.15 19.15 19.15 19.15 19.15 19.15 19.15 19.15 19.15 19.15 10.10 11.15 11.15 11.15 11.15 11.15 11.15 11.15 11.15 11.15

COMC2.00OC COMC2.20JU COMC2.60JU COMC2.60AG COMC2.80JU COMC2.80AG COMC3.00JU COMC3.00AG COMC3.00OC COMC3.15JU COMC3.15AG COMC3.30JU COMC3.30AG COMC3.30OC COMC3.45JU COMC3.45AG COMC3.45OC COMC3.60JU COMC3.60AG COMC3.75JU COMC3.90JU COMC4.05JU COMC4.05AG COMC4.90JU CREC11.0AG CREC11.0OC CREC14.0JU CREC15.0JU CREC16.0JU CREC17.0JU CREC17.0AG CREC17.0OC CREC18.0JU CREC19.0JU CREV15.0JU CREV18.0JU CREV20.0JU DGCC9.60AG EDNC9.15JU EDNC9.15AG EDNC9.15OC EDNC11.2JU EDNC11.2AG EDNC11.2OC EDNC12.7JU EDNC12.7AG EDNC12.7OC

Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Put Put Put Call Call Call Call Call Call Call Call Call Call

2.000 2.200 2.600 2.600 2.800 2.800 3.000 3.000 3.000 3.150 3.150 3.300 3.300 3.300 3.450 3.450 3.450 3.600 3.600 3.750 3.900 4.050 4.050 4.900 11.000 11.000 14.000 15.000 16.000 17.000 17.000 17.000 18.000 19.000 15.000 18.000 20.000 9.600 9.150 9.150 9.150 11.200 11.200 11.200 12.700 12.700 12.700

OC JU JU AG JU AG JU AG OC JU AG JU AG OC JU AG OC JU AG JU JU JU AG JU AG OC JU JU JU JU AG OC JU JU JU JU JU AG JU AG OC JU AG OC JU AG OC

127.00 8.00 8.00 71.00 8.00 71.00 8.00 71.00 127.00 8.00 71.00 8.00 71.00 127.00 8.00 71.00 127.00 8.00 71.00 8.00 8.00 8.00 71.00 8.00 71.00 127.00 8.00 8.00 8.00 8.00 71.00 127.00 8.00 8.00 8.00 8.00 8.00 71.00 8.00 71.00 127.00 8.00 71.00 127.00 8.00 71.00 127.00

0.00 0.65 0.29 0.00 0.12 0.00 0.03 0.21 0.00 0.02 0.15 0.01 0.11 0.00 0.00 0.00 0.00 0.01 0.06 0.00 0.00 0.00 0.00 0.00 0.00 9.50 5.25 4.10 0.00 2.35 3.70 0.00 1.60 0.45 0.00 0.55 0.00 0.00 0.00 0.00 0.00 0.35 1.30 0.00 0.12 0.80 0.00

9% 2% 5% 10% 2% 7% 3% -11% 11% -43% 25% 14% 100% 0% -1% -4% 31% -5% 0% -25% 25% 3% 10% -19% 14% -

1.07 0.70 0.30 0.44 0.12 0.29 0.02 0.17 0.28 0.00 0.11 0.00 0.06 0.15 0.00 0.04 0.11 0.00 0.02 0.00 0.00 0.00 0.00 0.00 8.74 9.19 5.25 4.25 3.26 2.28 3.36 4.17 1.36 0.64 0.00 0.09 0.94 1.14 2.06 2.56 2.99 0.30 1.11 1.62 0.01 0.49 0.94

0.078 0.047 0.009 -0.453 -0.171 -0.869 -0.287 -0.987 -0.396 -0.999 -1.000 -0.669 -1.000 -0.033 -0.001 0.037 -0.030 -0.093 -0.149 0.428 -0.841 -0.133 -0.150 -0.928 -0.392 -

ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM

Valor Intrínseco 0.88 0.68 0.28 0.28 0.08 0.08

8.15 8.15 5.15 4.15 3.15 2.15 2.15 2.15 1.15 0.15

Cobertura %

Tasa Lanzam. %

22.40% 9.90%

-1.6% 0.2%

3.99%

1.3%

1.15% 7.12%

5.4% 12.1%

0.52% 5.21% 0.28% 3.65%

9.9% 15.4% 14.9% 18.9%

0.14%

20.0%

0.17% 1.98% 0.14%

25.2% 27.5% 30.4%

49.61% 27.42% 21.41%

14.0% 0.7% -0.3%

12.27% 19.32%

1.2% 10.0%

8.36% 2.35%

2.6% 1.6%

3.14% 11.66%

3.7% 13.7%

1.09% 7.17%

15.2% 22.7%

0.85 0.50 2.00 2.00 2.00

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

0.997 1.000 0.992 0.899 0.784 0.761 0.237 0.570 0.663 0.038 0.422 0.003 0.289 0.448 0.000 0.185 0.349 0.000 0.110 0.000 0.000 0.000 0.017 0.000 1.000 0.997 1.000 1.000 0.998 0.976 0.853 0.845 0.864 0.603 0.000 -0.136 -0.703 0.825 0.999 0.929 0.908 0.528 0.644 0.693 0.032 0.377 0.498

0.018 0.000 0.169 0.471 2.212 0.829 2.335 1.049 0.732 0.622 1.045 0.062 0.913 0.793 0.003 0.712 0.742 0.000 0.503 0.000 0.000 0.000 0.110 0.000 0.000 0.002 0.000 0.000 0.004 0.045 0.066 0.051 0.176 0.312 0.000 0.176 0.280 0.210 0.004 0.066 0.060 0.548 0.181 0.128 0.098 0.185 0.146

0.000 0.000 0.000 0.002 0.001 0.004 0.001 0.005 0.006 0.000 0.005 0.000 0.004 0.007 0.000 0.003 0.006 0.000 0.002 0.000 0.000 0.000 0.001 0.000 0.000 0.001 0.000 0.000 0.000 0.002 0.020 0.027 0.007 0.012 0.000 0.007 0.010 0.012 0.000 0.007 0.011 0.007 0.018 0.023 0.001 0.019 0.026

-0.010 -0.012 -0.015 -0.015 -0.027 -0.016 -0.019 -0.015 -0.014 -0.005 -0.013 0.000 -0.010 -0.012 0.000 -0.008 -0.010 0.000 -0.005 0.000 0.000 0.000 -0.001 0.000 -0.056 -0.054 -0.075 -0.080 -0.088 -0.115 -0.109 -0.095 -0.187 -0.244 0.000 -0.090 -0.089 -0.054 -0.050 -0.056 -0.051 -0.143 -0.070 -0.059 -0.022 -0.058 -0.055

0.006 0.001 0.001 0.004 0.001 0.004 0.000 0.003 0.006 0.000 0.002 0.000 0.002 0.004 0.000 0.001 0.003 0.000 0.001 0.000 0.000 0.000 0.000 0.000 0.021 0.035 0.003 0.004 0.004 0.004 0.026 0.042 0.004 0.003 0.000 -0.001 -0.004 0.014 0.002 0.015 0.025 0.001 0.012 0.021 0.000 0.007 0.016

2.69 4.14 9.57 5.90 19.47 7.62 37.91 9.66 6.70 55.26 11.35 73.77 13.12 8.48 92.56 14.95 9.41 111.16 16.80 129.38 147.12 164.34 22.37 252.60 2.19 2.08 3.65 4.50 5.86 8.21 4.87 3.88 12.16 17.98 66.70 29.78 14.38 7.30 5.40 4.04 3.39 19.41 6.49 4.78 40.26 8.64 5.92

50% 50% 28% 39% 36% 47% 38% 55% 38% 60% 75% 42% 84% 85% 79% 50% 62% 57% 70% 24% 92% 48% 52% 79% 58% -

1463 138220 89010 80117 41379 8119 58583 4691 47725 4520 652 3750 338 27220 19400 20500 5405 142150 4800 3625 1100 23828 30550 2366 1120 -

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

3

Reporte de Opciones

Subyacente

ERAR

FRAN

GARO

GGAL

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

11.15 11.15 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 6.96 94.60 94.60 94.60 94.60 8.49 8.49 8.49 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40

EDNV9.15AG EDNV11.2JU ERAC4.30OC ERAC4.699J ERAC4.699G ERAC5.699J ERAC5.95JU ERAC6.699J ERAC6.70AG ERAC7.199G ERAC7.20OC ERAC7.449J ERAC7.449G ERAC7.699J ERAC7.70AG ERAC7.95JU ERAC7.95AG ERAV7.199J ERAV7.199G FRAC64.0JU FRAC64.0AG FRAC74.0JU FRAC84.0JU GARC8.00JU GARC8.30JU GARC8.90JU GFGC31885J GFGC32.0OC GFGC35.0AG GFGC37885J GFGC38885J GFGC39885J GFGC39885G GFGC40885J GFGC41885J GFGC42885J GFGC42885G GFGC43885J GFGC44885J GFGC44885G GFGC45.0JL GFGC45885J GFGC46.0JL GFGC46.0AG GFGC46885J GFGC47885J GFGC48885J

Put Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Put Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call

9.150 11.200 4.300 4.690 4.690 5.690 5.950 6.690 6.700 7.190 7.200 7.440 7.440 7.690 7.700 7.950 7.950 7.190 7.190 64.000 64.000 74.000 84.000 8.000 8.300 8.900 31.880 32.000 35.000 37.880 38.880 39.880 39.880 40.880 41.880 42.880 42.880 43.880 44.880 44.880 45.000 45.880 46.000 46.000 46.880 47.880 48.880

AG JU OC J G J JU J AG G OC J G J AG JU AG J G JU AG JU JU JU JU JU J OC AG J J J G J J J G J J G JL J JL AG J J J

71.00 8.00 127.00 8.00 71.00 8.00 8.00 8.00 71.00 71.00 127.00 8.00 71.00 8.00 71.00 8.00 71.00 8.00 71.00 8.00 71.00 8.00 8.00 8.00 8.00 8.00 8.00 127.00 71.00 8.00 8.00 8.00 71.00 8.00 8.00 8.00 71.00 8.00 8.00 71.00 36.00 8.00 36.00 71.00 8.00 8.00 8.00

0.00 0.00 0.00 0.00 2.50 0.00 1.20 0.29 1.00 0.00 0.00 0.02 0.33 0.00 0.23 0.00 0.13 0.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.85 2.76 1.90 5.00 1.21 0.67 0.42 2.65 0.28 0.17 1.85 0.00 0.12 0.00 0.00 0.12 0.07 0.10

-4% 54% 1% 0% -20% 2% 15% 0% -58% 4% -3% -5% 2% -2% -12% -14% -10% -7% 6% 8% 9% 71% -12% 0%

0.07 0.28 3.06 2.30 2.52 1.31 1.05 0.36 0.80 0.51 0.81 0.03 0.40 0.01 0.30 0.00 0.23 0.26 0.36 31.04 34.07 21.11 11.22 0.60 0.39 0.11 9.74 12.54 8.49 3.82 2.90 2.07 4.73 1.37 0.83 0.46 3.01 0.23 0.10 2.13 0.97 0.04 0.71 1.74 0.02 0.01 0.00

0.009 -0.124 0.246 -0.202 0.433 0.212 0.314 0.744 0.051 -0.008 0.051 0.088 -0.053 0.129 0.237 0.088 0.135 -0.185 -0.395 0.153 -0.651 -0.872 -0.927 -0.985

OTM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM ITM OTM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM

Valor Intrínseco 0.05 2.66 2.27 2.27 1.27 1.01 0.27 0.26

Cobertura %

Tasa Lanzam. %

35.92%

5.2%

17.24% 4.14% 14.37%

3.3% 0.3% 12.4%

0.29% 4.74%

7.2% 12.2%

3.30%

14.4%

1.87%

16.4%

9.30% 6.67% 4.59% 12.08% 2.92% 1.62% 1.01% 6.40% 0.68% 0.41% 4.47%

0.9% 0.6% 1.0% 9.6% 1.7% 2.8% 4.6% 10.7% 6.7% 8.9% 13.5%

0.29%

11.1%

0.29% 0.17% 0.24%

13.6% 15.8% 18.4%

0.23 0.23 30.60 30.60 20.60 10.60 0.49 0.19 9.52 9.40 6.40 3.52 2.52 1.52 1.52 0.52

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

-0.071 -0.472 0.998 1.000 0.998 1.000 0.999 0.806 0.750 0.589 0.660 0.147 0.503 0.050 0.416 0.012 0.339 -0.667 -0.411 1.000 0.996 1.000 0.982 0.829 0.671 0.302 1.000 0.964 0.933 0.960 0.900 0.795 0.748 0.648 0.478 0.316 0.582 0.186 0.097 0.467 0.333 0.045 0.266 0.406 0.019 0.007 0.002

0.066 0.548 0.004 0.000 0.005 0.001 0.012 0.710 0.291 0.356 0.251 0.596 0.365 0.268 0.357 0.084 0.335 0.940 0.356 0.000 0.001 0.000 0.008 0.412 0.586 0.566 0.000 0.009 0.020 0.037 0.076 0.123 0.049 0.161 0.173 0.154 0.060 0.116 0.075 0.061 0.078 0.041 0.070 0.060 0.020 0.008 0.003

0.007 0.007 0.000 0.000 0.000 0.000 0.000 0.003 0.010 0.012 0.015 0.003 0.012 0.001 0.012 0.000 0.011 0.004 0.012 0.000 0.005 0.000 0.007 0.003 0.005 0.005 0.000 0.019 0.024 0.006 0.011 0.018 0.059 0.024 0.026 0.023 0.072 0.017 0.011 0.073 0.048 0.006 0.043 0.071 0.003 0.001 0.000

-0.009 -0.083 -0.021 -0.025 -0.024 -0.030 -0.033 -0.070 -0.041 -0.040 -0.035 -0.040 -0.038 -0.017 -0.035 -0.005 -0.031 -0.028 -0.003 -0.343 -0.333 -0.396 -0.541 -0.096 -0.115 -0.097 -0.171 -0.166 -0.204 -0.271 -0.342 -0.421 -0.242 -0.470 -0.459 -0.387 -0.237 -0.280 -0.175 -0.219 -0.230 -0.095 -0.200 -0.204 -0.045 -0.019 -0.007

-0.002 -0.001 0.014 0.001 0.009 0.001 0.001 0.001 0.009 0.007 0.013 0.000 0.006 0.000 0.005 0.000 0.004 -0.001 -0.006 0.016 0.119 0.018 0.020 0.002 0.001 0.001 0.008 0.096 0.059 0.009 0.008 0.008 0.052 0.006 0.005 0.003 0.042 0.002 0.001 0.034 0.013 0.000 0.010 0.030 0.000 0.000 0.000

11.34 19.07 2.27 3.02 2.75 5.32 6.61 15.65 6.54 7.97 5.70 35.77 8.75 43.95 9.58 52.76 10.41 17.68 8.03 3.05 2.77 4.48 8.28 11.66 14.76 22.45 4.25 3.18 4.55 10.40 12.85 15.92 6.54 19.63 23.89 28.62 8.02 33.72 39.08 9.07 14.26 44.62 15.41 9.68 50.29 56.03 61.80

50% 50% 50% 55% 32% 30% 29% 26% 32% 40% 50% 25% 40% 29% 29% 34% 30% 38% 41% 32% 45% 52% 52% 63%

16000 2760 3480 500 400 29369 7518 1300 500 770 109007 89065 1000 96604 156788 132596 19295 11343 10511 48763 3572 800 1255 290

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

4

Reporte de Opciones

Subyacente

LEDE

MIRG

PAMP

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 41.40 14.35 14.35 14.35 1247.00 1247.00 1247.00 1247.00 1247.00 1247.00 1247.00 1247.00 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45 14.45

GFGC49885J GFGC49885G GFGC50.0OC GFGC51885J GFGC54885J GFGV10885J GFGV11.0AG GFGV34885J GFGV37885J GFGV37885G GFGV39885J GFGV40885J GFGV41885J GFGV42.0AG GFGV43885J GFGV45885J LEDC10.0JU LEDC13.0JU LEDC14.0JU MIRC12533J MIRC12933J MIRC12933G MIRC13333G MIRC14133J MIRC14533J MIRC79333J MIRC79333O PAMC9.10JU PAMC9.10AG PAMC9.10OC PAMC9.90JU PAMC10.7AG PAMC11.5JU PAMC12.7JU PAMC13.1JU PAMC13.1AG PAMC13.1OC PAMC14.3JU PAMC14.3AG PAMC14.3OC PAMC15.1JU PAMC15.1AG PAMC15.5JU PAMC15.5AG PAMV11.5JU PAMV12.7JU PAMV12.7AG

Call Call Call Call Call Put Put Put Put Put Put Put Put Put Put Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Put Put Put

49.880 49.880 50.000 51.880 54.880 108.800 11.000 34.880 37.880 37.880 39.880 40.880 41.880 42.000 43.880 45.880 10.000 13.000 14.000 1253.000 1293.000 1293.000 1333.000 1413.000 1453.000 793.300 793.300 9.100 9.100 9.100 9.900 10.700 11.500 12.700 13.100 13.100 13.100 14.300 14.300 14.300 15.100 15.100 15.500 15.500 11.500 12.700 12.700

J G OC J J J AG J J G J J J AG J J JU JU JU J J G G J J J O JU AG OC JU AG JU JU JU AG OC JU AG OC JU AG JU AG JU JU AG

8.00 71.00 127.00 8.00 8.00 8.00 71.00 8.00 8.00 71.00 8.00 8.00 8.00 71.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 71.00 71.00 8.00 8.00 8.00 127.00 8.00 71.00 127.00 8.00 71.00 8.00 8.00 8.00 71.00 127.00 8.00 71.00 127.00 8.00 71.00 8.00 71.00 8.00 8.00 71.00

0.00 0.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.70 0.00 0.45 1.00 2.50 2.80 0.00 4.30 0.00 1.00 0.00 0.00 90.00 60.00 2.90 0.00 460.00 0.00 0.00 0.00 0.00 0.00 0.00 3.05 1.85 1.40 2.20 0.00 0.49 1.40 2.50 0.15 0.95 0.09 0.75 0.00 0.05 0.30

8% -18% -31% 0% 9% 4% 7% 0% -18% -40% 190% -12% 15% 32% 22% 10% 36% 17% 0% 34% 36% 6% 50% 0% -25%

0.00 0.79 2.00 0.00 0.00 66.65 0.00 0.00 0.04 0.59 0.27 0.56 1.02 1.80 2.41 4.21 4.42 1.46 0.62 44.70 27.98 133.57 116.27 4.70 2.29 459.18 534.16 5.41 5.84 6.22 4.62 4.35 3.03 1.84 1.46 2.34 2.97 0.51 1.56 2.23 0.17 1.15 0.09 0.98 0.00 0.01 0.21

0.126 -0.159 0.254 0.019 -0.281 -0.141 0.028 -0.380 0.484 0.938 0.619 -0.002 -0.007 -0.003 0.044 0.065 0.048 0.116 -0.109 0.157 0.211 0.038 0.302 -0.874 -0.308

OTM OTM OTM OTM OTM ITM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM

Valor Intrínseco

Cobertura %

Tasa Lanzam. %

1.69%

22.6%

29.97%

-0.5%

6.97%

4.9%

7.22% 4.81% 0.23%

11.8% 12.3% 13.6%

36.89%

0.8%

21.11% 12.80% 9.69% 15.22%

0.9% 0.8% 0.4% 6.9%

3.39% 9.69% 17.30% 1.04% 6.57% 0.59% 5.19%

2.4% 9.6% 19.7% 5.6% 11.9% 7.9% 13.1%

67.40

0.48 0.60 2.48 4.48 4.35 1.35 0.35

453.70 453.70 5.35 5.35 5.35 4.55 3.75 2.95 1.75 1.35 1.35 1.35 0.15 0.15 0.15

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

0.001 0.226 0.373 0.000 0.000 -1.000 0.000 -0.001 -0.040 -0.160 -0.205 -0.352 -0.522 -0.367 -0.814 -0.955 1.000 0.957 0.704 0.527 0.385 0.580 0.531 0.095 0.052 1.000 0.967 1.000 0.998 0.991 1.000 0.977 1.000 0.982 0.948 0.821 0.820 0.617 0.672 0.713 0.298 0.561 0.177 0.506 0.000 -0.018 -0.139

0.001 0.046 0.044 0.000 0.000 0.000 0.000 0.001 0.037 0.037 0.123 0.161 0.173 0.058 0.116 0.041 0.000 0.101 0.385 0.004 0.004 0.001 0.001 0.002 0.001 0.000 0.000 0.000 0.002 0.006 0.000 0.020 0.001 0.046 0.111 0.097 0.073 0.401 0.134 0.095 0.364 0.146 0.273 0.148 0.001 0.046 0.082

0.000 0.055 0.093 0.000 0.000 0.000 0.000 0.000 0.006 0.045 0.018 0.024 0.026 0.069 0.017 0.006 0.000 0.002 0.008 0.779 0.749 2.165 2.203 0.332 0.207 0.000 0.544 0.000 0.000 0.002 0.000 0.003 0.000 0.001 0.002 0.017 0.022 0.009 0.023 0.029 0.008 0.025 0.006 0.026 0.000 0.001 0.014

-0.002 -0.141 -0.162 0.000 0.000 0.582 0.000 -0.002 -0.068 -0.038 -0.207 -0.251 -0.235 -0.028 -0.045 0.151 -0.054 -0.098 -0.172 -20.150 -18.620 -9.027 -8.894 -7.787 -4.819 -4.246 -4.447 -0.049 -0.047 -0.046 -0.053 -0.060 -0.062 -0.083 -0.105 -0.086 -0.074 -0.187 -0.091 -0.077 -0.151 -0.089 -0.109 -0.086 0.000 -0.015 -0.017

0.000 0.017 0.047 0.000 0.000 -0.027 0.000 0.000 0.000 -0.014 -0.002 -0.004 -0.006 -0.034 -0.009 -0.011 0.002 0.003 0.002 0.151 0.112 1.163 1.077 0.028 0.015 0.194 2.355 0.002 0.017 0.028 0.002 0.019 0.003 0.003 0.003 0.019 0.031 0.002 0.016 0.028 0.001 0.014 0.001 0.012 0.000 0.000 -0.004

67.57 11.85 7.73 79.05 95.90 0.62 56.66 66.25 43.62 11.23 31.14 25.83 21.19 8.46 14.01 9.40 3.25 9.44 16.31 14.70 17.17 5.41 5.70 25.32 28.17 2.72 2.26 2.67 2.47 2.31 3.13 3.25 4.77 7.70 9.37 5.06 3.98 17.35 6.22 4.63 24.82 7.05 28.99 7.48 60.92 41.02 9.69

34% 38% 31% 35% 46% 55% 50% 85% 35% 30% 50% 50% 81% 47% 50% 33% 39% 35% 51% 39% 34% 41% 33% 62% 48%

7439 1910 1350 690 13000 14000 15950 2000 109500 6000 580 46000 83359 201225 333514 69257 240070 35062 2500 53903 24410 970 32628 130 3000

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

5

Reporte de Opciones

Subyacente

PESA

PETR SAMI TECO2 TGNO4 TGSU2

TRAN

TS

YPFD

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

14.45 14.45 8.63 8.63 8.63 8.63 36.80 68.50 68.50 53.20 53.20 7.09 17.60 17.60 17.60 6.35 6.35 6.35 6.35 6.35 202.50 202.50 202.50 202.50 202.50 202.50 202.50 303.00 303.00 303.00 303.00 303.00 303.00 303.00 303.00 303.00 303.00 303.00 303.00 303.00 303.00 303.00 303.00

PAMV13.1AG PAMV14.3AG PSAC9.15JU PSAC9.15AG PSAC11.2JU PSAC11.2AG PETC32.0JU SAMC49255J SAMC54255J TECC52.6AG TECC51878J TGNC8.00OC TGSC19.9JU TGSC19.9AG TGSC19.9OC TRAC5.80JU TRAC6.10JU TRAC6.40AG TRAC7.30JU TRAC7.90JU TS.C18079J TS.C19079J TS.C20079J TS.C20879J TS.C213.AG TS.C23279G TS.V185.AG YPFC200.JU YPFC220.AG YPFC240.AG YPFC240.JU YPFC260.AG YPFC280.AG YPFC280.JU YPFC300.JU YPFC300.AG YPFC320.JU YPFC320.AG YPFC320.JL YPFC340.JU YPFC360.AG YPFV260.JU YPFV280.AG

Put Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Put Put

13.100 14.300 9.150 9.150 11.200 11.200 32.000 49.250 54.250 52.600 51.870 8.000 19.900 19.900 19.900 5.800 6.100 6.400 7.300 7.900 180.700 190.700 200.700 208.700 213.000 232.700 185.000 200.000 220.000 240.000 240.000 260.000 280.000 280.000 300.000 300.000 320.000 320.000 320.000 340.000 360.000 260.000 280.000

AG AG JU AG JU AG JU J J AG J OC JU AG OC JU JU AG JU JU J J J J AG G AG JU AG AG JU AG AG JU JU AG JU AG JL JU AG JU AG

71.00 71.00 8.00 71.00 8.00 71.00 8.00 8.00 8.00 71.00 8.00 127.00 8.00 71.00 127.00 8.00 8.00 71.00 8.00 8.00 8.00 8.00 8.00 8.00 71.00 71.00 71.00 8.00 71.00 71.00 8.00 71.00 71.00 8.00 8.00 71.00 8.00 71.00 36.00 8.00 71.00 8.00 71.00

0.00 1.50 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 21.00 14.00 4.50 4.40 7.00 3.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 26.00 8.50 25.00 2.00 15.00 0.00 0.00 0.00 0.00 0.00

-21% 0% 100% 0% 41% 0% 112% 200% 0% 0% -26% 0% 25% -

0.29 0.64 0.02 0.38 0.00 0.02 5.02 19.59 14.62 5.25 2.20 0.47 0.00 0.53 1.14 0.59 0.32 0.52 0.00 0.00 23.11 13.76 6.30 2.63 13.37 6.44 2.95 104.38 94.95 76.41 64.66 58.71 42.67 25.32 9.36 29.15 1.76 18.67 9.85 0.15 6.34 0.01 4.57

-0.572 -0.681 0.101 -0.017 0.400 -0.403 0.910 1.145 -0.026 0.101 0.166 -0.118 0.245 -

OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM OTM OTM OTM OTM ITM ITM OTM OTM OTM ITM ITM ITM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM

Valor Intrínseco

Cobertura %

Tasa Lanzam. %

0.61%

6.7%

10.37% 6.91% 2.22% 2.17% 3.46% 1.48%

-0.4% 1.2% 1.4% 5.4% 9.0% 16.6%

8.58% 2.81% 8.25% 0.66% 4.95%

1.1% 1.9% 7.9% 6.3% 11.1%

4.80 19.25 14.25 0.60 1.33

0.55 0.25

21.80 11.80 1.80

103.00 83.00 63.00 63.00 43.00 23.00 23.00 3.00 3.00

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

-0.179 -0.328 0.104 0.512 0.000 0.041 0.999 1.000 1.000 0.692 0.727 0.491 0.011 0.343 0.486 0.974 0.828 0.656 0.005 0.000 0.985 0.887 0.621 0.351 0.544 0.329 -0.161 1.000 0.994 0.975 1.000 0.924 0.829 0.946 0.632 0.692 0.198 0.533 0.428 0.025 0.247 -0.001 -0.171

0.097 0.134 0.519 0.406 0.000 0.089 0.001 0.000 0.000 0.042 0.112 0.296 0.033 0.147 0.120 0.189 0.785 0.401 0.045 0.000 0.003 0.017 0.033 0.032 0.012 0.011 0.008 0.000 0.000 0.001 0.000 0.003 0.005 0.007 0.023 0.008 0.017 0.009 0.012 0.004 0.007 0.000 0.005

0.017 0.023 0.002 0.015 0.000 0.003 0.000 0.000 0.000 0.083 0.028 0.017 0.001 0.029 0.042 0.001 0.003 0.010 0.000 0.000 0.012 0.061 0.121 0.118 0.357 0.325 0.219 0.000 0.022 0.079 0.000 0.192 0.341 0.052 0.179 0.473 0.132 0.535 0.379 0.027 0.425 0.002 0.341

-0.019 -0.018 -0.029 -0.041 0.000 -0.006 -0.173 -0.264 -0.291 -0.314 -0.582 -0.031 -0.011 -0.074 -0.076 -0.038 -0.059 -0.036 -0.002 0.000 -1.121 -1.746 -2.338 -2.020 -1.146 -0.894 -0.193 -1.070 -1.149 -1.313 -1.285 -1.516 -1.698 -2.109 -3.394 -1.769 -2.092 -1.669 -1.884 -0.409 -1.083 -0.028 -0.271

-0.006 -0.011 0.000 0.008 0.000 0.001 0.008 0.012 0.013 0.062 0.009 0.011 0.000 0.011 0.026 0.001 0.001 0.007 0.000 0.000 0.043 0.041 0.029 0.017 0.191 0.119 -0.070 0.049 0.407 0.432 0.059 0.437 0.412 0.064 0.045 0.356 0.014 0.282 0.121 0.002 0.135 0.000 -0.111

9.06 7.38 52.92 11.64 164.25 22.60 7.32 3.50 4.68 7.00 17.55 7.47 59.15 11.40 7.54 10.42 16.30 7.95 62.78 89.87 8.63 13.06 19.96 27.07 8.24 10.35 11.02 2.90 3.17 3.87 4.69 4.77 5.89 11.32 20.47 7.20 33.95 8.65 13.16 49.74 11.80 63.65 11.32

78% 37% 50% 40% 21% 51% 18% 25% 44% 30% 26% 36% 28% -

1500 530 2100 15700 44295 440 26700 3100 2600 25120 2500 1003 3000 -

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

6

Glosario Subyacente: acción o bono al cual está vinculada la opción respectiva. Precio: Es el precio de cierre de la acción/bono subyacente. Tipo: Call (opción de compra) / Put (opción de venta). Strike: Precio de ejercicio de la opción. Días al Vto: Días corridos desde la fecha de análisis hasta el vencimiento de la opción. Vto: es el mes en el cual vence la opción. Prima: Último precio de la opción negociado en el mercado. % Var: Variación de la prima con relación al precio de cierre inmediato anterior. Prima Teórica: Valor teórico de la opción de acuerdo al modelo de valuación de Black and Scholes. Se utiliza la volatilidad historica de las ultimas 40 ruedas. Dif. Vs Prima: relación porcentual entre la prima teórica y el precio de mercado. Estado: Indica si la opción está OTM (Out of the money) / ITM (In the money) / ATM (At the money). En castellano se define como No ejercible/ Ejercible / Indiferente a ejercer. Valor intrínseco: Es la diferencia entre el precio de mercado y el precio de ejercicio. Sólo se consigna en las opciones ejercibles (ITM). Cobertura: Es la relación de la prima con respecto al precio de mercado del subyacente. Tasa Lanzam.: Es la tasa estimada de ganancia en el caso de haber realizado un lanzamiento y ser ejercido. Se computa como el ratio entre el precio de ejercicio del lanzamiento y la diferencia del precio de mercado del acción y la prima de la opción. Sólo aplica para las opciones de compra. Delta: Letra griega que indica la variación teórica medida en pesos de la prima ante una variación en el subyacente de un peso. Gamma: Letra griega que indica la variación teórica del Delta ante una variación de una unidad en el subyacente. Vega: Letra griega que indica la variación teórica de la prima ante un cambio de una unidad en la volatilidad. Theta: Letra griega que indica la variación teórica de la prima ante el paso del tiempo en días. Rho: Letra griega que indica la variación teórica de la prima ante un cambio de un punto en la tasa de interés. Efecto Palanca: Mide el grado de apalancamiento de la opción. Es el retorno relativo a obtener por invertir en la opción ante la variación del activo subyacente de un peso. Volatilidad implícita: Es la volatilidad que se deduce del modelo de valuación de Black and Scholes, tomando como parámetro el precio de mercado de la opción y como incógnita la volatilidad. Volumen: Monto total operado. San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

Cláusula Legal Este reporte tiene el propósito de brindar información para generar debate. Mientras no esté especificado el mismo no constituye ninguna oferta o recomendación de compra o venta de los instrumentos financieros mencionados. Por otro lado, este reporte no tiene en cuenta los objetivos de inversión y/o la situación financiera de ninguna persona en particular. Los Asesores Financieros relacionados a invertirOnline.com pueden ofrecer sus opiniones o perspectivas concernientes a lo apropiado de la naturaleza de determinadas estrategias de inversión; sin embargo, es finalmente el usuario o cliente el responsable último de las decisiones de inversión que adopta debiendo estar tales decisiones basadas únicamente en sus circunstancias económicas, objetivos financieros, tolerancia al riesgo y necesidades de liquidez personales. Las inversiones en activos financieros y otros productos conllevan riesgos, incluyendo la perdida de capital significativa. Los riesgos incluyen pero no están limitados a: riesgo de tasa de interés, riesgos de liquidez, de tipo de cambio y el riesgo específico de la empresa y/o sector. Este documento contiene información histórica y prospectiva. Los rendimientos pasados no son garantía o indicativo de resultados futuros. Todos los precios, valores o estimaciones generadas en este reporte (excepto aquellos identificados como históricos) son con fines indicativos. Todos los datos utilizados en este reporte están basados en fuentes que se consideran confiables y de buena fe, pero no implican garantía implícita o explícita de su precisión y completitud. Mayor información al respecto se encuentra disponible de ser requerida. Conflictos de Interés Hemos implementado y mantenemos implementando un período de restricción de 2 semanas sobre las carteras administradas previo a la emisión de un reporte de manera de evitar la compra/venta de acciones específicas que se encuentran involucrados en el presente research. Los analistas involucrados en la creación de este research pueden tener intereses directos o indirectos dentro de las posiciones mencionadas en este reporte. En caso de ser así en el siguiente cuadro se listarán aquellos activos en que los analistas tienen posiciones y la naturaleza de las mismas. Fecha de Posición

Alejandro Bianchi, CFA Gerente de Inversiones @aleebianchi fb.com/alejandro.emilio.bianchi

Flavia Matsuda Analista Cuantitativo @FlaviaMatsuda [email protected]

Analista

Posisición

Manuel Carpintero Asesor Financiero (54 11) 4000 1400 [email protected]

Activo

María Fernanda Lázaro Asesor Financiero (54 11) 4000 1400 [email protected]

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

Ignacio Muneta Asesor Financiero (54 11) 4000 1400 [email protected]