Also useful, below chart shows implied vol atm mid for the 2n° month futures over the last 1y: WTI N MAW elf.113."4.14,:trita, Flt ".14 lee Le, W.VA. evploc vel LY1. clad vedoblrte sxo O.4‘.• bout trcoal frisamuirm:brec0....ron, *14 And below is the same chart over the last 10 years: MeMIX WT

26 Date 02/21/2013 /LCD...N.6M ,77..r.arath minx" S ge. ...as aspen. A O iTnn ANN[' las Viagra , n41912* Lili g afa4 ( .1 • 1 Iii "W.VA. 041,0 11 0",440,1 • 0! 1 ti Check 6358 Amount S 767.93 Date 0215,2013 M .. I =y; ay. tinamosi i / 41/Atz: C; I Ama s s,' 1 AAA N