MUB Options History — February 2018

In February 2018, MUB traded between $108.31 and $108.97. ATM implied volatility averaged 4.7%, placing in the 54.4% IV rank vs the trailing year. The 30-day expected move averaged 1.3%. IV traded above realized volatility by 1.7% (HV 20d: 3.0%). Max pain ranged from $109.00 to $110.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 9.99.

Notable Days

2018-02-15: Highest Volume — 1,180 contracts
2018-02-21: Largest IV spike — 40.2% change
2018-02-14: Highest IV Rank — 79.2%
2018-02-14: Largest Expected Move — 1.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$108.61	$108.31	$108.97	$108.82	$108.63
Max Pain	$109.63	$109.00	$110.00	$110.00	$109.00
ATM IV	4.7%	3.5%	5.8%	4.1%	4.1%
Expected Move	1.3%	1.0%	1.7%	1.1%	1.2%
HV 20d	3.0%	2.7%	3.3%	2.7%	3.1%
HV 60d	3.3%	3.3%	3.4%	3.3%	3.3%
IV Rank	54.4%	28.8%	79.2%	41.0%	42.1%
IV Percentile	84.5%	37.7%	99.2%	72.2%	74.6%
Term Structure	0.1%	-0.6%	0.6%	0.3%	0.6%
VWIV	4.8%	4.2%	5.5%	4.7%	4.2%
Skew 25d	1.7%	1.0%	2.7%	1.4%	1.0%
Skew 10d	3.3%	1.1%	5.3%	3.9%	2.1%
Call IV 25d	4.1%	3.5%	5.1%	3.8%	3.9%
Put IV 25d	5.8%	4.9%	6.9%	5.2%	4.9%
Bid-Ask Spread %	90.56	67.10	112.80	88.83	94.04
Gamma HHI	0.29	0.23	0.34	0.25	0.34
Net GEX	-1.7M	-1.8M	-1.5M	-1.8M	-1.7M
Net DEX	8.3M	6.7M	9.6M	8.7M	7.0M
Net VEX	-25.9K	-31.4K	-21.7K	-22.6K	-30.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	9.99	6.82	16.26	6.84	14.25
Total Volume	951.053	847	1,180	847	869
Total OI	1,753.211	1,493	1,964	1,794	1,598

Daily Data (19 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
2018-02-01	$108.82	$110.00	4.1%	1.1%	2.7%	41.0%	4.7%	1.4%	0.3%	-1.8M	8.7M	-22.6K	6.84	88.83	108	739	169	1,625
2018-02-02	$108.67	$110.00	3.8%	1.2%	2.7%	34.9%	4.5%	1.0%	-0.2%	-1.7M	9.3M	-21.7K	6.96	68.78	108	752	169	1,642
2018-02-05	$108.97	$110.00	4.7%	1.4%	3.0%	53.7%	4.9%	1.9%	-0.6%	-1.7M	8.7M	-21.7K	6.96	112.80	113	787	169	1,654
2018-02-06	$108.88	$110.00	5.3%	1.3%	2.9%	68.2%	4.5%	1.2%	0.3%	-1.7M	8.7M	-23.0K	7.37	106.17	107	789	174	1,657
2018-02-07	$108.69	$110.00	4.4%	1.2%	2.9%	46.9%	4.8%	1.4%	0.4%	-1.6M	9.1M	-22.1K	7.39	78.59	107	791	174	1,660
2018-02-08	$108.68	$110.00	4.8%	1.4%	2.9%	57.2%	5.3%	2.0%	0.5%	-1.8M	9.2M	-23.1K	6.82	88.82	117	798	174	1,680
2018-02-09	$108.58	$110.00	5.3%	1.5%	2.9%	67.9%	5.5%	1.9%	-0.2%	-1.6M	9.6M	-22.7K	7.42	96.15	117	868	184	1,690
2018-02-12	$108.65	$110.00	4.8%	1.4%	2.9%	55.5%	5.0%	2.7%	0.2%	-1.7M	9.3M	-23.5K	8.26	91.15	105	867	184	1,750
2018-02-13	$108.70	$110.00	4.9%	1.4%	2.9%	58.9%	5.1%	2.5%	0.4%	-1.6M	8.1M	-23.2K	8.16	67.10	105	857	185	1,645
2018-02-14	$108.38	$110.00	5.8%	1.7%	3.0%	79.2%	5.1%	2.4%	-0.5%	-1.7M	8.8M	-22.5K	9.65	78.55	110	1,061	185	1,645
2018-02-15	$108.48	$110.00	5.2%	1.5%	3.1%	64.6%	5.5%	2.5%	-0.2%	-1.8M	9.3M	-27.3K	9.00	88.30	118	1,062	178	1,772
2018-02-16	$108.60	$110.00	4.7%	1.3%	3.1%	54.4%	4.8%	2.2%	0.1%	-1.5M	8.8M	-26.5K	7.45	92.52	130	968	191	1,773
2018-02-20	$108.51	$109.00	3.5%	1.0%	3.1%	28.8%	4.5%	1.6%	0.2%	-1.7M	6.9M	-30.2K	13.56	101.23	63	854	129	1,364
2018-02-21	$108.31	$109.00	5.0%	1.4%	3.2%	59.8%	4.8%	1.2%	0.5%	-1.8M	7.4M	-30.7K	12.75	90.44	67	854	132	1,410
2018-02-22	$108.40	$109.00	5.1%	1.5%	3.2%	63.6%	4.5%	1.3%	-0.3%	-1.8M	7.3M	-30.6K	16.26	98.23	53	862	134	1,440
2018-02-23	$108.64	$109.00	4.5%	1.3%	3.3%	50.7%	4.5%	1.4%	0.5%	-1.7M	6.8M	-31.4K	13.68	90.93	63	862	137	1,449
2018-02-26	$108.56	$109.00	4.9%	1.4%	3.2%	58.8%	5.1%	2.0%	-0.0%	-1.7M	6.7M	-30.0K	13.63	91.44	63	859	148	1,449
2018-02-27	$108.51	$109.00	4.4%	1.3%	3.1%	48.0%	4.5%	1.2%	-0.1%	-1.8M	7.2M	-29.6K	13.33	96.54	64	853	138	1,454
2018-02-28	$108.63	$109.00	4.1%	1.2%	3.1%	42.1%	4.2%	1.0%	0.6%	-1.7M	7.0M	-30.6K	14.25	94.04	57	812	141	1,457