MUB Options History — January 2019

In January 2019, MUB traded between $108.83 and $109.42. ATM implied volatility averaged 4.1%, placing in the 56.8% IV rank vs the trailing year. The 30-day expected move averaged 1.2%. IV traded above realized volatility by 2.3% (HV 20d: 1.8%). Max pain ranged from $107.00 to $109.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 2.29.

Notable Days

2019-01-18: Highest Volume — 67 contracts
2019-01-04: Largest IV spike — 19.5% change
2019-01-04: Highest IV Rank — 68.8%
2019-01-08: Largest Expected Move — 1.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$109.03	$108.83	$109.42	$109.03	$109.42
Max Pain	$108.86	$107.00	$109.00	$108.00	$107.00
ATM IV	4.1%	3.6%	4.7%	3.9%	4.2%
Expected Move	1.2%	1.0%	1.4%	1.1%	1.2%
HV 20d	1.8%	1.6%	1.9%	1.8%	1.9%
HV 60d	2.0%	1.8%	2.0%	1.9%	1.8%
IV Rank	56.8%	45.0%	68.8%	51.9%	57.2%
IV Percentile	71.0%	40.1%	87.3%	67.1%	73.0%
Term Structure	-0.3%	-2.2%	1.3%	0.4%	0.2%
VWIV	4.3%	3.3%	5.4%	3.9%	4.1%
Skew 25d	1.1%	-0.5%	3.0%	-0.2%	3.0%
Skew 10d	1.1%	-1.1%	8.2%	-0.1%	8.2%
Call IV 25d	3.2%	2.3%	4.8%	3.4%	2.5%
Put IV 25d	4.3%	3.0%	5.4%	3.2%	5.4%
Bid-Ask Spread %	106.45	90.98	123.27	113.68	100.96
Gamma HHI	0.29	0.27	0.34	0.34	0.29
Net GEX	-4.9M	-5.6M	-4.0M	-5.3M	-4.0M
Net DEX	5.1M	2.7M	6.9M	5.5M	2.7M
Net VEX	-31.1K	-41.2K	-19.3K	-37.3K	-19.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	2.29	0.00	5.50	3.50	0.00
Total Volume	16.524	0	67	0	1
Total OI	3,781	3,749	3,808	3,803	3,753

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
2019-01-02	$109.03	$108.00	3.9%	1.1%	1.8%	51.9%	0.0%	-0.2%	0.4%	-5.3M	5.5M	-37.3K	0.00	113.68	0	0	468	3,335
2019-01-03	$109.27	$109.00	3.9%	1.3%	1.6%	51.2%	0.0%	1.9%	0.1%	-5.2M	4.3M	-34.5K	0.00	99.64	0	0	468	3,335
2019-01-04	$109.01	$109.00	4.7%	1.2%	1.9%	68.8%	0.0%	1.1%	-1.0%	-5.4M	5.8M	-37.9K	0.00	107.95	0	2	458	3,335
2019-01-07	$109.08	$109.00	4.6%	1.4%	1.8%	66.7%	3.9%	-0.2%	0.0%	-4.4M	6.2M	-41.2K	3.50	105.05	2	7	458	3,337
2019-01-08	$108.97	$109.00	4.1%	1.4%	1.9%	55.6%	3.3%	-0.4%	0.1%	-4.6M	6.5M	-40.2K	3.50	97.81	2	7	455	3,341
2019-01-09	$108.83	$109.00	4.2%	1.2%	1.9%	58.5%	3.4%	-0.5%	-2.2%	-5.6M	6.4M	-37.0K	5.50	112.11	2	11	455	3,341
2019-01-10	$108.92	$109.00	4.5%	1.3%	1.9%	64.7%	4.6%	0.7%	-1.7%	-5.1M	6.9M	-40.0K	5.50	101.44	2	11	455	3,345
2019-01-11	$108.91	$109.00	4.3%	1.2%	1.9%	61.3%	4.3%	1.3%	0.3%	-4.8M	5.7M	-30.5K	3.50	102.60	4	14	455	3,345
2019-01-14	$109.01	$109.00	4.1%	1.2%	1.9%	56.7%	5.3%	1.1%	-1.8%	-5.0M	4.9M	-33.6K	0.40	106.90	15	6	461	3,347
2019-01-15	$109.02	$109.00	4.0%	1.1%	1.9%	52.6%	4.0%	0.9%	-0.9%	-5.2M	3.5M	-21.2K	0.61	120.42	18	11	428	3,347
2019-01-16	$109.08	$109.00	4.2%	1.2%	1.9%	57.8%	5.4%	1.8%	-1.1%	-5.2M	4.3M	-28.6K	1.53	118.06	19	29	429	3,348
2019-01-17	$109.05	$109.00	4.2%	1.2%	1.9%	58.1%	4.1%	1.2%	-1.4%	-4.8M	4.4M	-28.5K	2.00	110.63	19	38	430	3,363
2019-01-18	$108.95	$109.00	3.6%	1.0%	1.8%	45.0%	4.6%	1.9%	-1.5%	-5.0M	5.4M	-33.3K	2.35	90.98	20	47	430	3,367
2019-01-22	$108.99	$109.00	4.1%	1.2%	1.8%	56.3%	0.0%	1.1%	-0.2%	-5.6M	4.8M	-25.0K	0.00	96.24	0	0	379	3,370
2019-01-23	$108.88	$109.00	4.3%	1.2%	1.8%	61.9%	0.0%	0.7%	-0.3%	-5.0M	5.4M	-26.3K	0.00	101.39	0	10	379	3,370
2019-01-24	$109.06	$109.00	4.0%	1.1%	1.9%	52.6%	4.1%	2.1%	1.2%	-4.6M	5.5M	-30.6K	0.67	99.03	15	10	379	3,380
2019-01-25	$109.01	$109.00	3.8%	1.1%	1.8%	50.0%	4.1%	1.9%	1.3%	-4.6M	5.4M	-29.2K	0.67	109.57	15	10	384	3,380
2019-01-28	$108.95	$109.00	3.9%	1.1%	1.7%	52.3%	0.0%	0.6%	0.8%	-4.6M	5.2M	-27.3K	0.00	110.63	0	0	384	3,380
2019-01-29	$109.12	$109.00	3.8%	1.1%	1.8%	49.8%	0.0%	1.4%	0.8%	-4.4M	3.8M	-24.3K	0.00	107.08	0	0	384	3,380
2019-01-30	$109.17	$109.00	4.4%	1.3%	1.8%	63.5%	0.0%	1.6%	0.7%	-4.4M	4.7M	-27.5K	0.00	123.27	0	0	383	3,380
2019-01-31	$109.42	$107.00	4.2%	1.2%	1.9%	57.2%	0.0%	3.0%	0.2%	-4.0M	2.7M	-19.3K	0.00	100.96	1	0	373	3,380