MUB Options History — April 2018

In April 2018, MUB traded between $107.58 and $108.64. ATM implied volatility averaged 3.7%, placing in the 39.7% IV rank vs the trailing year. The 30-day expected move averaged 1.1%. IV traded above realized volatility by 1.5% (HV 20d: 2.2%). Max pain ranged from $108.00 to $111.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 4.98.

Notable Days

2018-04-12: Highest Volume — 780 contracts
2018-04-05: Largest IV spike — 25.1% change
2018-04-16: Highest IV Rank — 51.0%
2018-04-05: Largest Expected Move — 1.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$108.27	$107.58	$108.64	$108.64	$108.00
Max Pain	$110.05	$108.00	$111.00	$108.00	$110.00
ATM IV	3.7%	3.3%	4.1%	4.1%	3.6%
Expected Move	1.1%	0.9%	1.2%	1.2%	1.0%
HV 20d	2.2%	2.0%	2.3%	2.0%	2.2%
HV 60d	2.4%	2.2%	2.5%	2.4%	2.2%
IV Rank	39.7%	28.9%	51.0%	50.9%	37.1%
IV Percentile	52.8%	23.4%	78.2%	77.0%	50.4%
Term Structure	0.1%	-1.0%	0.7%	-0.2%	-0.0%
VWIV	3.7%	3.3%	4.2%	4.2%	4.0%
Skew 25d	1.2%	-0.0%	2.5%	0.3%	1.5%
Skew 10d	1.4%	-0.1%	3.2%	0.3%	3.2%
Call IV 25d	3.2%	2.2%	3.8%	3.8%	2.9%
Put IV 25d	4.4%	3.6%	4.7%	4.1%	4.4%
Bid-Ask Spread %	47.46	17.44	104.16	102.71	31.61
Gamma HHI	0.36	0.32	0.44	0.35	0.44
Net GEX	-1.7M	-3.7M	-94.2K	-134.4K	-3.7M
Net DEX	8.1M	4.2M	12.1M	4.2M	9.8M
Net VEX	-32.4K	-36.2K	-27.5K	-28.5K	-33.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	4.98	3.51	8.18	3.82	4.31
Total Volume	512.095	376	780	376	531
Total OI	2,334.714	2,066	2,653	2,066	2,390

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
2018-04-02	$108.64	$108.00	4.1%	1.2%	2.0%	50.9%	4.2%	0.3%	-0.2%	-134.4K	4.2M	-28.5K	3.82	102.71	78	298	599	1,467
2018-04-03	$108.46	$109.00	3.9%	1.1%	2.1%	45.1%	3.8%	0.5%	0.2%	-187.8K	5.4M	-28.1K	4.90	104.16	69	338	592	1,489
2018-04-04	$108.54	$109.00	3.3%	1.0%	2.1%	28.9%	4.2%	0.9%	0.5%	-94.2K	5.3M	-31.1K	4.90	84.24	69	338	593	1,549
2018-04-05	$108.34	$111.00	4.1%	1.2%	2.2%	50.9%	3.9%	1.5%	-0.1%	-611.4K	6.5M	-29.3K	5.04	71.43	69	348	593	1,559
2018-04-06	$108.49	$111.00	3.3%	1.2%	2.3%	29.7%	3.9%	1.4%	0.2%	-418.4K	6.2M	-29.7K	4.99	55.91	68	339	593	1,578
2018-04-09	$108.42	$111.00	3.8%	1.2%	2.2%	41.6%	3.7%	1.3%	0.1%	-701.4K	6.4M	-27.5K	5.09	58.29	68	346	594	1,589
2018-04-10	$108.46	$111.00	3.7%	1.2%	2.1%	40.3%	3.7%	1.5%	0.2%	-559.9K	6.6M	-28.8K	5.24	49.97	68	356	594	1,599
2018-04-11	$108.56	$111.00	3.4%	1.0%	2.1%	32.4%	3.5%	1.5%	0.6%	-691.9K	5.0M	-28.2K	5.26	45.30	81	426	594	1,609
2018-04-12	$108.40	$110.00	4.1%	1.2%	2.2%	49.5%	3.7%	1.1%	-0.0%	-538.9K	6.3M	-28.3K	8.18	42.64	85	695	610	1,647
2018-04-13	$108.51	$110.00	3.6%	1.0%	2.2%	36.7%	3.7%	1.6%	0.7%	-465.7K	7.9M	-36.2K	5.45	39.15	85	463	609	1,937
2018-04-16	$108.42	$110.00	4.1%	1.2%	2.2%	51.0%	3.6%	1.6%	-0.2%	-1.3M	9.1M	-36.0K	3.51	35.48	132	463	610	1,975
2018-04-17	$108.52	$110.00	3.5%	1.0%	2.2%	33.2%	3.8%	1.2%	-1.0%	-854.0K	7.9M	-35.8K	4.09	17.44	117	478	645	1,975
2018-04-18	$108.42	$110.00	3.9%	1.1%	2.2%	45.6%	3.4%	1.3%	-0.1%	-2.0M	9.2M	-35.3K	3.75	40.21	126	473	646	1,995
2018-04-19	$108.24	$110.00	3.9%	1.1%	2.3%	44.7%	3.3%	2.5%	0.1%	-2.8M	9.7M	-35.6K	3.79	76.57	126	477	656	1,995
2018-04-20	$108.14	$110.00	3.8%	1.1%	2.2%	40.7%	3.9%	1.0%	0.2%	-3.5M	10.0M	-34.6K	3.75	19.47	126	473	656	1,997
2018-04-23	$108.03	$110.00	3.7%	1.1%	2.2%	39.8%	3.8%	0.7%	0.1%	-3.5M	10.4M	-33.8K	6.31	39.16	67	423	210	1,985
2018-04-24	$107.93	$110.00	3.6%	1.0%	2.2%	36.5%	3.4%	1.5%	-0.1%	-3.6M	10.4M	-34.7K	4.97	19.19	79	393	246	2,014
2018-04-25	$107.58	$110.00	3.7%	1.0%	2.1%	38.1%	3.5%	-0.0%	-0.2%	-3.7M	12.1M	-33.9K	6.14	19.10	72	442	262	2,030
2018-04-26	$107.73	$110.00	3.4%	1.0%	2.1%	31.0%	3.9%	1.6%	-0.0%	-3.7M	10.9M	-35.9K	5.38	19.50	85	457	281	2,077
2018-04-27	$107.90	$110.00	3.3%	0.9%	2.3%	28.9%	3.7%	1.6%	0.0%	-3.7M	11.0M	-35.8K	5.76	25.16	78	449	296	2,094
2018-04-30	$108.00	$110.00	3.6%	1.0%	2.2%	37.1%	4.0%	1.5%	-0.0%	-3.7M	9.8M	-33.3K	4.31	31.61	100	431	296	2,094