MUB Options History — December 2018

In December 2018, MUB traded between $107.85 and $108.99. ATM implied volatility averaged 3.8%, placing in the 50.2% IV rank vs the trailing year. The 30-day expected move averaged 1.1%. IV traded above realized volatility by 1.9% (HV 20d: 1.9%). Max pain ranged from $107.00 to $108.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 2.59.

Notable Days

2018-12-24: Highest Volume — 96 contracts
2018-12-27: Largest IV spike — 51.6% change
2018-12-24: Highest IV Rank — 63.5%
2018-12-24: Largest Expected Move — 1.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$108.53	$107.85	$108.99	$107.85	$108.99
Max Pain	$107.90	$107.00	$108.00	$108.00	$108.00
ATM IV	3.8%	2.8%	4.4%	4.3%	3.8%
Expected Move	1.1%	0.8%	1.3%	1.2%	1.1%
HV 20d	1.9%	1.7%	2.1%	1.7%	2.0%
HV 60d	2.1%	1.9%	2.2%	2.0%	1.9%
IV Rank	50.2%	26.6%	63.5%	60.9%	50.0%
IV Percentile	61.8%	16.3%	83.7%	82.1%	61.9%
Term Structure	0.2%	-1.2%	2.4%	-0.8%	0.3%
VWIV	3.8%	2.9%	4.4%	4.4%	3.9%
Skew 25d	0.5%	-0.7%	1.8%	0.7%	-0.4%
Skew 10d	1.4%	-0.3%	7.6%	0.7%	-0.3%
Call IV 25d	2.9%	2.0%	3.8%	3.5%	3.5%
Put IV 25d	3.4%	2.8%	4.2%	4.2%	3.2%
Bid-Ask Spread %	113.06	101.58	127.53	111.73	107.46
Gamma HHI	0.29	0.23	0.38	0.26	0.33
Net GEX	-4.2M	-5.6M	-2.3M	-3.5M	-4.9M
Net DEX	10.7M	5.9M	14.2M	12.7M	5.9M
Net VEX	-56.0K	-69.9K	-39.3K	-69.9K	-41.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.59	0.55	9.50	4.00	3.60
Total Volume	34.55	0	96	5	0
Total OI	3,898.95	3,803	3,981	3,881	3,803

Daily Data (20 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
2018-12-03	$107.85	$108.00	4.3%	1.2%	1.7%	60.9%	4.4%	0.7%	-0.8%	-3.5M	12.7M	-69.9K	4.00	111.73	1	4	455	3,426
2018-12-04	$108.24	$107.00	4.1%	1.2%	2.0%	56.0%	2.9%	-0.0%	-0.6%	-4.4M	13.8M	-65.2K	0.55	124.65	11	6	473	3,427
2018-12-05	$108.24	$107.00	4.2%	1.2%	1.9%	59.3%	3.6%	0.3%	-1.2%	-4.7M	13.2M	-59.9K	0.55	127.53	11	6	473	3,427
2018-12-06	$108.40	$108.00	3.6%	1.2%	1.8%	44.2%	3.4%	0.1%	-0.0%	-4.5M	12.5M	-63.6K	2.29	101.59	7	16	471	3,425
2018-12-07	$108.53	$108.00	3.9%	0.9%	1.8%	52.3%	4.2%	0.5%	0.5%	-4.8M	11.8M	-63.1K	1.62	119.03	13	21	488	3,443
2018-12-10	$108.56	$108.00	4.2%	1.2%	1.7%	57.2%	0.0%	0.7%	0.4%	-3.2M	12.9M	-63.2K	0.00	101.59	0	0	476	3,441
2018-12-11	$108.44	$108.00	4.3%	1.2%	1.9%	59.5%	0.0%	1.8%	0.3%	-3.3M	14.0M	-63.0K	0.00	101.58	0	2	476	3,441
2018-12-12	$108.41	$108.00	3.9%	1.1%	1.9%	52.3%	0.0%	1.5%	0.5%	-3.4M	13.6M	-61.3K	0.00	115.35	0	2	476	3,441
2018-12-13	$108.40	$108.00	3.5%	1.0%	1.9%	42.2%	0.0%	0.4%	0.6%	-2.3M	8.2M	-39.3K	0.00	112.55	0	12	476	3,441
2018-12-14	$108.42	$108.00	3.8%	1.1%	1.9%	48.6%	4.3%	1.8%	0.9%	-3.5M	14.1M	-62.6K	9.50	104.99	2	19	476	3,441
2018-12-17	$108.40	$108.00	3.9%	1.1%	1.9%	50.4%	0.0%	0.6%	0.3%	-3.5M	14.2M	-60.7K	0.00	112.87	0	0	476	3,443
2018-12-18	$108.38	$108.00	3.8%	1.1%	1.9%	49.7%	0.0%	0.4%	0.3%	-4.8M	11.7M	-57.9K	0.00	107.56	0	0	476	3,443
2018-12-19	$108.62	$108.00	3.1%	0.9%	2.0%	32.2%	0.0%	0.9%	-0.4%	-4.5M	7.8M	-53.3K	1.00	124.81	30	30	476	3,443
2018-12-20	$108.67	$108.00	3.1%	0.9%	2.0%	34.0%	0.0%	0.9%	-0.9%	-4.5M	6.9M	-50.4K	1.10	120.91	30	33	505	3,473
2018-12-21	$108.77	$108.00	3.7%	1.1%	2.0%	46.7%	0.0%	0.7%	1.3%	-4.6M	9.4M	-55.7K	0.89	109.72	37	33	505	3,476
2018-12-24	$108.81	$108.00	4.4%	1.3%	1.9%	63.5%	0.0%	-0.0%	-0.3%	-5.6M	8.0M	-47.1K	1.74	117.87	35	61	494	3,364
2018-12-26	$108.65	$108.00	2.8%	0.8%	2.1%	26.6%	3.6%	0.7%	2.4%	-4.5M	9.1M	-50.6K	3.25	111.19	20	65	494	3,344
2018-12-27	$108.88	$108.00	4.3%	1.2%	2.1%	60.5%	3.9%	-0.7%	0.1%	-4.3M	7.8M	-49.5K	3.60	119.16	20	72	514	3,344
2018-12-28	$108.94	$108.00	4.2%	1.2%	2.1%	58.4%	3.9%	-0.3%	0.1%	-5.0M	6.8M	-41.8K	3.60	108.99	20	72	468	3,345
2018-12-31	$108.99	$108.00	3.8%	1.1%	2.0%	50.0%	0.0%	-0.4%	0.3%	-4.9M	5.9M	-41.0K	0.00	107.46	0	0	468	3,335