MUB Options History — May 2021

In May 2021, MUB traded between $116.38 and $117.03. ATM implied volatility averaged 3.5%, placing in the 15.6% IV rank vs the trailing year. The 30-day expected move averaged 1.0%. IV traded above realized volatility by 1.6% (HV 20d: 1.9%). Max pain ranged from $116.00 to $117.00. Net GEX was positive for 1 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 6.85.

Notable Days

2021-05-20: Highest Volume — 514 contracts
2021-05-12: Largest IV spike — 39.4% change
2021-05-13: Highest IV Rank — 25.6%
2021-05-04: Largest Expected Move — 1.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$116.68	$116.38	$117.03	$116.45	$117.01
Max Pain	$116.15	$116.00	$117.00	$117.00	$116.00
ATM IV	3.5%	2.6%	4.8%	4.3%	2.6%
Expected Move	1.0%	0.7%	1.4%	1.2%	0.7%
HV 20d	1.9%	1.6%	2.1%	2.0%	1.9%
HV 60d	2.6%	2.2%	2.8%	2.8%	2.2%
IV Rank	15.6%	8.6%	25.6%	13.5%	8.6%
IV Percentile	26.5%	5.2%	59.5%	50.0%	5.2%
Term Structure	0.2%	-0.5%	0.6%	0.1%	0.3%
VWIV	4.0%	3.2%	4.7%	4.0%	3.2%
Skew 25d	1.4%	0.5%	2.2%	1.1%	1.5%
Skew 10d	6.7%	1.6%	40.5%	40.5%	8.3%
Call IV 25d	3.3%	2.6%	4.3%	3.8%	2.7%
Put IV 25d	4.7%	3.6%	5.6%	4.9%	4.2%
Bid-Ask Spread %	44.35	8.16	96.57	96.57	8.16
Gamma HHI	0.32	0.23	0.46	0.31	0.25
Net GEX	-3.0M	-6.3M	716.4K	-6.2M	-517.6K
Net DEX	948.5K	-3.4M	6.0M	2.6M	783.5K
Net VEX	-33.9K	-52.4K	-16.2K	-24.2K	-43.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	6.85	0.16	60.00	3.41	7.69
Total Volume	101.05	7	514	97	226
Total OI	4,380.1	3,562	4,983	4,389	3,622

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
2021-05-03	$116.45	$117.00	4.3%	1.2%	2.0%	13.5%	4.0%	1.1%	0.1%	-6.2M	2.6M	-24.2K	3.41	96.57	22	75	854	3,535
2021-05-04	$116.47	$117.00	4.8%	1.4%	2.0%	18.5%	4.7%	1.1%	-0.5%	-6.3M	6.0M	-48.0K	0.43	60.85	44	19	866	3,568
2021-05-05	$116.55	$117.00	3.7%	1.0%	2.0%	11.8%	0.0%	1.5%	0.0%	-6.0M	4.1M	-46.1K	0.24	67.36	42	10	906	3,554
2021-05-06	$116.69	$116.00	3.3%	1.0%	1.9%	11.2%	4.2%	1.5%	0.2%	-4.8M	2.1M	-43.6K	4.00	39.20	10	40	1,008	3,544
2021-05-07	$116.85	$116.00	3.5%	1.0%	1.9%	12.7%	4.1%	1.2%	0.3%	-3.1M	-3.2M	-17.2K	3.32	37.76	22	73	1,003	3,548
2021-05-10	$116.74	$116.00	4.0%	1.1%	2.0%	16.0%	4.4%	1.8%	0.2%	-2.9M	-2.3M	-19.8K	2.13	34.61	89	190	1,022	3,561
2021-05-11	$116.62	$116.00	3.3%	1.1%	2.0%	10.5%	4.5%	1.4%	0.1%	-3.3M	-1.5M	-22.1K	0.48	35.22	27	13	1,084	3,571
2021-05-12	$116.40	$116.00	4.5%	1.3%	2.1%	23.5%	4.5%	0.9%	0.1%	-3.1M	621.5K	-26.6K	0.46	27.91	67	31	1,107	3,579
2021-05-13	$116.38	$116.00	4.4%	1.3%	1.6%	25.6%	0.0%	1.2%	0.1%	-2.8M	572.9K	-25.4K	3.00	19.57	2	6	1,070	3,599
2021-05-14	$116.65	$116.00	3.3%	1.0%	1.8%	16.0%	3.5%	1.6%	0.6%	-3.1M	-1.8M	-19.2K	0.16	91.94	64	10	1,071	3,599
2021-05-17	$116.66	$116.00	3.6%	1.0%	1.8%	20.7%	0.0%	2.2%	0.3%	-3.8M	2.6M	-44.3K	0.00	28.07	0	56	1,135	3,608
2021-05-18	$116.69	$116.00	3.5%	1.0%	1.8%	19.6%	4.3%	1.4%	0.5%	-2.5M	4.1M	-50.7K	60.00	31.13	1	60	1,135	3,610
2021-05-19	$116.53	$116.00	3.6%	1.0%	1.9%	21.4%	4.4%	1.5%	0.6%	-4.3M	-912.1K	-18.7K	11.57	34.84	7	81	1,135	3,610
2021-05-20	$116.62	$116.00	3.3%	1.0%	1.9%	17.6%	3.5%	0.8%	0.1%	-1.7M	4.1M	-47.6K	1.53	95.60	203	311	1,139	3,640
2021-05-21	$116.67	$116.00	3.1%	0.9%	1.9%	14.5%	3.5%	0.5%	0.5%	-1.5M	3.7M	-52.4K	6.21	95.39	19	118	1,342	3,641
2021-05-24	$116.74	$116.00	3.1%	0.9%	1.9%	15.3%	3.5%	0.7%	0.3%	-3.1M	195.2K	-35.9K	5.00	32.59	3	15	980	2,582
2021-05-25	$116.92	$116.00	2.8%	0.8%	2.0%	10.5%	3.8%	1.8%	0.2%	-1.8M	712.5K	-42.3K	0.00	17.41	0	7	982	2,597
2021-05-26	$117.03	$116.00	2.9%	0.8%	2.0%	13.0%	0.0%	2.2%	0.1%	716.4K	-3.4M	-16.2K	0.00	16.33	0	33	982	2,604
2021-05-27	$116.99	$116.00	2.9%	0.8%	1.9%	11.7%	3.7%	2.2%	0.3%	-739.1K	-143.8K	-35.8K	0.00	16.43	0	25	982	2,627
2021-05-28	$117.01	$116.00	2.6%	0.7%	1.9%	8.6%	3.2%	1.5%	0.3%	-517.6K	783.5K	-43.1K	7.69	8.16	26	200	992	2,630