GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

Ionic Capital Management LLC's Holding History (CIK: 0001386462)

Note: Option positions (PUT/CALL) are excluded.

Q2 2018

Shares 166,574 Value ($000) $2,632 Avg Close $12.00 Range $10.70 - $17.00

Q1 2018

Shares 249,374 Value ($000) $3,167 Avg Close $15.09 Range $11.80 - $17.80

Q4 2017

Shares 237,320 Value ($000) $3,975 Avg Close $15.62 Range $13.90 - $17.50

Q3 2017

Shares 359,020 Value ($000) $5,637 Avg Close $14.30 Range $13.30 - $15.75

Q2 2017

Shares 359,520 Value ($000) $4,925 Avg Close $13.50 Range $11.70 - $15.45

Q1 2017

Shares 292,020 Value ($000) $4,234 Avg Close $12.66 Range $9.95 - $15.10

Q4 2016

Shares 395,220 Value ($000) $4,288 Avg Close $9.81 Range $7.00 - $11.40

Q3 2016

Shares 449,020 Value ($000) $4,652 Avg Close $10.90 Range $9.15 - $11.90

Q2 2016

Shares 271,120 Value ($000) $2,942 Avg Close $11.80 Range $10.43 - $14.77

Q3 2015

Shares 875,823 Value ($000) $11,176 Avg Close $14.21 Range $10.38 - $18.07

Q2 2015

Shares 582,490 Value ($000) $9,133 Avg Close $14.67 Range $13.18 - $16.67

Q1 2015

Shares 1,100,000 Value ($000) $15,202 Avg Close $11.36 Range $9.17 - $14.80

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2018	166,574	$2,632	$12.00	$10.70 - $17.00
Q1 2018	249,374	$3,167	$15.09	$11.80 - $17.80
Q4 2017	237,320	$3,975	$15.62	$13.90 - $17.50
Q3 2017	359,020	$5,637	$14.30	$13.30 - $15.75
Q2 2017	359,520	$4,925	$13.50	$11.70 - $15.45
Q1 2017	292,020	$4,234	$12.66	$9.95 - $15.10
Q4 2016	395,220	$4,288	$9.81	$7.00 - $11.40
Q3 2016	449,020	$4,652	$10.90	$9.15 - $11.90
Q2 2016	271,120	$2,942	$11.80	$10.43 - $14.77
Q3 2015	875,823	$11,176	$14.21	$10.38 - $18.07
Q2 2015	582,490	$9,133	$14.67	$13.18 - $16.67
Q1 2015	1,100,000	$15,202	$11.36	$9.17 - $14.80