MUB Options History — April 2015

In April 2015, MUB traded between $109.62 and $110.42. ATM implied volatility averaged 4.5%, placing in the 65.1% IV rank vs the trailing year. The 30-day expected move averaged 1.3%. IV traded above realized volatility by 2.2% (HV 20d: 2.3%). Max pain ranged from $110.00 to $111.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 3.02.

Notable Days

2015-04-29: Highest Volume — 834 contracts
2015-04-30: Largest IV drop — 21.9% change
2015-04-08: Highest IV Rank — 76.1%
2015-04-02: Largest Expected Move — 1.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$110.15	$109.62	$110.42	$110.42	$109.62
Max Pain	$110.05	$110.00	$111.00	$110.00	$110.00
ATM IV	4.5%	3.5%	5.0%	4.7%	3.5%
Expected Move	1.3%	1.0%	1.5%	1.4%	1.0%
HV 20d	2.3%	1.3%	4.8%	4.8%	1.3%
HV 60d	3.7%	3.5%	3.9%	3.9%	3.5%
IV Rank	65.1%	42.0%	76.1%	70.5%	42.0%
IV Percentile	52.5%	13.5%	75.0%	63.1%	13.5%
Term Structure	0.2%	-0.1%	0.6%	0.3%	-0.0%
VWIV	4.6%	3.9%	5.3%	4.5%	4.0%
Skew 25d	0.4%	-0.5%	1.1%	0.4%	0.4%
Skew 10d	2.8%	-1.1%	20.7%	1.4%	20.7%
Call IV 25d	4.3%	3.3%	5.0%	4.3%	3.8%
Put IV 25d	4.7%	4.0%	5.6%	4.8%	4.2%
Bid-Ask Spread %	51.65	10.48	93.42	91.17	87.21
Gamma HHI	0.59	0.44	0.66	0.53	0.44
Net GEX	-3.9M	-8.7M	-2.6M	-2.6M	-8.7M
Net DEX	6.9M	5.7M	10.7M	5.7M	10.7M
Net VEX	-24.3K	-30.8K	-16.9K	-30.5K	-18.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.02	1.86	7.42	2.70	3.31
Total Volume	467.143	0	834	647	440
Total OI	2,570.19	2,361	2,916	2,573	2,916

Daily Data (21 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 Vol	Put Vol	Call OI	Put OI
2015-04-01	$110.42	$110.00	4.7%	1.4%	4.8%	70.5%	4.5%	0.4%	0.3%	-2.6M	5.7M	-30.5K	2.70	91.17	175	472	437	2,136
2015-04-02	$110.25	$110.00	4.4%	1.5%	4.8%	61.9%	5.3%	0.6%	0.3%	-2.7M	6.4M	-30.8K	3.08	80.31	153	472	437	2,146
2015-04-06	$110.23	$110.00	4.9%	1.3%	3.2%	74.7%	4.9%	0.2%	0.4%	-2.9M	6.0M	-28.8K	2.28	83.88	153	349	442	2,146
2015-04-07	$110.37	$110.00	4.8%	1.5%	3.1%	71.2%	5.0%	0.2%	0.3%	-3.0M	5.9M	-28.6K	1.89	16.78	153	289	442	2,126
2015-04-08	$110.34	$111.00	5.0%	1.4%	2.9%	76.1%	0.0%	0.5%	0.2%	-3.1M	6.3M	-28.0K	0.00	19.19	0	0	410	2,150
2015-04-09	$110.25	$110.00	4.7%	1.3%	2.8%	68.7%	4.6%	0.4%	0.5%	-3.3M	6.4M	-26.7K	1.90	88.75	153	290	442	2,152
2015-04-10	$110.22	$110.00	4.5%	1.3%	2.7%	66.4%	4.7%	0.1%	0.5%	-3.4M	6.3M	-25.8K	1.90	52.48	153	291	442	2,153
2015-04-13	$110.19	$110.00	4.8%	1.4%	2.7%	71.2%	4.7%	0.2%	0.3%	-3.5M	6.6M	-25.4K	1.90	23.27	153	291	442	2,154
2015-04-14	$110.25	$110.00	4.9%	1.4%	2.7%	73.8%	4.7%	0.2%	0.3%	-3.3M	6.3M	-26.9K	2.11	11.64	152	320	442	2,154
2015-04-15	$110.31	$110.00	4.4%	1.3%	2.7%	63.8%	4.7%	0.8%	0.4%	-3.7M	6.4M	-24.9K	1.86	19.79	152	283	416	2,185
2015-04-16	$110.27	$110.00	4.4%	1.3%	1.6%	63.0%	4.6%	0.8%	0.6%	-4.1M	6.7M	-24.6K	2.02	17.55	153	309	416	2,190
2015-04-17	$110.30	$110.00	4.5%	1.3%	1.6%	64.7%	4.5%	0.4%	0.4%	-3.9M	6.4M	-24.2K	1.94	88.63	148	287	411	2,191
2015-04-20	$110.19	$110.00	4.6%	1.3%	1.6%	68.5%	4.5%	0.3%	0.1%	-3.8M	6.8M	-24.4K	1.90	91.05	142	270	369	1,992
2015-04-21	$110.18	$110.00	4.4%	1.3%	1.5%	63.0%	4.5%	0.3%	-0.1%	-3.8M	6.7M	-22.5K	2.80	10.48	97	272	369	2,018
2015-04-22	$109.98	$110.00	4.7%	1.3%	1.5%	68.8%	4.8%	-0.5%	0.0%	-3.7M	7.5M	-23.5K	4.45	13.75	83	369	369	2,012
2015-04-23	$109.97	$110.00	4.3%	1.2%	1.4%	61.0%	4.6%	-0.2%	0.3%	-4.2M	7.7M	-21.5K	5.27	13.77	79	416	375	2,118
2015-04-24	$110.08	$110.00	4.3%	1.2%	1.4%	61.3%	3.9%	0.3%	0.1%	-4.1M	7.1M	-19.9K	4.16	93.42	99	412	376	2,215
2015-04-27	$110.02	$110.00	4.0%	1.1%	1.3%	53.4%	3.9%	1.1%	0.2%	-4.5M	7.4M	-18.6K	4.18	67.56	100	418	376	2,213
2015-04-28	$109.90	$110.00	4.2%	1.2%	1.3%	58.5%	4.1%	0.6%	0.4%	-4.3M	7.9M	-19.3K	3.28	23.31	100	328	378	2,219
2015-04-29	$109.73	$110.00	4.5%	1.3%	1.3%	64.7%	4.4%	1.0%	-0.1%	-4.4M	8.9M	-16.9K	7.42	90.55	99	735	378	2,219
2015-04-30	$109.62	$110.00	3.5%	1.0%	1.3%	42.0%	4.0%	0.4%	-0.0%	-8.7M	10.7M	-18.3K	3.31	87.21	102	338	379	2,537