MUB Options History — January 2022

In January 2022, MUB traded between $113.49 and $116.19. ATM implied volatility averaged 3.6%, placing in the 27.6% IV rank vs the trailing year. The 30-day expected move averaged 1.0%. IV traded above realized volatility by 2.1% (HV 20d: 1.5%). Max pain ranged from $115.00 to $116.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 6.73.

Notable Days

2022-01-25: Highest Volume — 16,966 contracts
2022-01-12: Largest IV spike — 58.3% change
2022-01-31: Highest IV Rank — 84.9%
2022-01-31: Largest Expected Move — 2.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$115.00	$113.49	$116.19	$116.19	$113.49
Max Pain	$115.95	$115.00	$116.00	$116.00	$115.00
ATM IV	3.6%	2.0%	7.0%	2.7%	7.0%
Expected Move	1.0%	0.7%	2.0%	0.8%	2.0%
HV 20d	1.5%	1.2%	1.9%	1.3%	1.9%
HV 60d	1.9%	1.8%	2.1%	1.9%	2.0%
IV Rank	27.6%	2.0%	84.9%	12.8%	84.9%
IV Percentile	48.8%	0.8%	99.6%	11.1%	99.6%
Term Structure	-0.2%	-1.1%	0.2%	0.0%	-0.7%
VWIV	4.2%	2.7%	7.1%	2.8%	6.9%
Skew 25d	2.6%	0.1%	13.5%	1.2%	3.6%
Skew 10d	5.9%	1.8%	19.0%	2.1%	6.1%
Call IV 25d	3.2%	1.8%	5.4%	2.4%	5.0%
Put IV 25d	5.9%	3.4%	16.0%	3.6%	8.6%
Bid-Ask Spread %	71.29	30.30	115.31	50.87	92.81
Gamma HHI	0.45	0.26	0.73	0.61	0.51
Net GEX	-16.3M	-93.2M	-1.1M	-2.8M	-69.7M
Net DEX	21.4M	1.9M	99.7M	2.4M	99.7M
Net VEX	-39.5K	-177.5K	-8.9K	-13.4K	-154.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	6.73	0.41	36.37	0.59	10.13
Total Volume	4,119.2	733	16,966	754	10,076
Total OI	7,209.8	1,339	30,943	1,339	28,547

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
2022-01-03	$116.19	$116.00	2.7%	0.8%	1.3%	12.8%	2.8%	1.2%	0.0%	-2.8M	2.4M	-13.4K	0.59	50.87	475	279	514	825
2022-01-04	$116.17	$116.00	3.2%	0.9%	1.2%	20.8%	3.2%	8.6%	-0.2%	-2.4M	1.9M	-8.9K	0.57	48.09	491	279	516	827
2022-01-05	$115.96	$116.00	2.3%	0.7%	1.3%	6.4%	2.7%	4.2%	0.2%	-3.7M	3.0M	-10.9K	0.53	67.78	480	253	540	827
2022-01-06	$115.92	$116.00	2.7%	0.7%	1.3%	13.3%	2.9%	13.5%	-0.1%	-2.9M	2.7M	-9.3K	0.54	106.61	480	259	542	831
2022-01-07	$115.80	$116.00	2.6%	0.9%	1.4%	11.1%	4.4%	0.7%	-0.0%	-3.2M	3.0M	-10.7K	0.49	107.22	536	265	542	837
2022-01-10	$115.56	$116.00	2.3%	0.8%	1.4%	6.9%	3.3%	1.3%	0.2%	-2.1M	3.6M	-12.4K	0.66	59.24	492	323	612	847
2022-01-11	$115.51	$116.00	2.0%	0.8%	1.2%	2.0%	4.5%	0.8%	-0.1%	-2.2M	3.9M	-11.3K	0.58	39.40	487	283	616	835
2022-01-12	$115.46	$116.00	3.2%	0.9%	1.2%	22.1%	4.5%	1.1%	-0.2%	-2.1M	4.0M	-11.8K	0.41	49.27	612	253	617	844
2022-01-13	$115.45	$116.00	3.4%	1.0%	1.2%	24.5%	4.5%	1.4%	-0.2%	-1.8M	3.7M	-13.6K	0.49	57.93	519	254	743	843
2022-01-14	$115.22	$116.00	3.2%	0.9%	1.3%	21.9%	2.9%	2.1%	0.2%	-1.6M	4.1M	-11.8K	0.54	50.96	519	282	746	847
2022-01-18	$114.84	$116.00	3.4%	1.0%	1.6%	24.4%	4.2%	1.8%	0.1%	-1.1M	5.6M	-10.6K	0.49	30.30	519	252	746	875
2022-01-19	$114.94	$116.00	3.2%	0.9%	1.7%	22.1%	2.8%	1.2%	-0.1%	-1.4M	5.5M	-10.7K	0.55	45.43	523	286	746	899
2022-01-20	$114.84	$116.00	3.3%	0.9%	1.7%	22.7%	3.8%	1.5%	-0.0%	-1.1M	5.6M	-11.4K	6.00	37.07	578	3,468	752	934
2022-01-21	$114.64	$116.00	3.6%	1.0%	1.6%	28.7%	4.6%	1.8%	-0.1%	-7.7M	7.0M	-24.2K	6.36	94.14	570	3,624	819	4,311
2022-01-24	$114.53	$116.00	3.5%	1.0%	1.5%	27.2%	4.4%	1.5%	0.0%	-3.9M	3.6M	-12.3K	7.81	95.89	478	3,732	777	4,082
2022-01-25	$114.10	$116.00	3.9%	1.1%	1.8%	32.9%	4.2%	0.1%	-0.2%	-3.0M	4.9M	-12.5K	36.37	99.56	454	16,512	777	4,230
2022-01-26	$113.81	$116.00	4.6%	1.3%	1.9%	44.5%	7.1%	0.8%	-1.1%	-42.9M	81.1M	-125.1K	33.73	115.31	449	15,146	806	20,018
2022-01-27	$113.85	$116.00	5.6%	1.6%	1.9%	62.0%	4.2%	3.0%	-0.9%	-76.7M	82.6M	-136.3K	14.41	87.51	508	7,320	816	28,767
2022-01-28	$113.66	$116.00	5.5%	1.6%	1.9%	60.0%	6.1%	2.6%	-0.5%	-93.2M	99.6M	-177.5K	13.26	90.46	706	9,362	892	30,051
2022-01-31	$113.49	$115.00	7.0%	2.0%	1.9%	84.9%	6.9%	3.6%	-0.7%	-69.7M	99.7M	-154.5K	10.13	92.81	905	9,171	1,301	27,246