MUB Options History — July 2022

In July 2022, MUB traded between $106.53 and $108.55. ATM implied volatility averaged 8.1%, placing in the 66.2% IV rank vs the trailing year. The 30-day expected move averaged 2.3%. IV traded above realized volatility by 3.4% (HV 20d: 4.7%). Max pain ranged from $106.00 to $107.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 7.94.

Notable Days

2022-07-06: Highest Volume — 2,647 contracts
2022-07-11: Largest IV spike — 19.0% change
2022-07-12: Highest IV Rank — 92.5%
2022-07-12: Largest Expected Move — 2.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$107.40	$106.53	$108.55	$106.53	$108.55
Max Pain	$106.30	$106.00	$107.00	$107.00	$107.00
ATM IV	8.1%	6.2%	10.5%	8.3%	6.2%
Expected Move	2.3%	1.8%	2.6%	2.4%	1.8%
HV 20d	4.7%	3.4%	6.8%	6.5%	3.5%
HV 60d	5.3%	5.2%	5.4%	5.4%	5.4%
IV Rank	66.2%	45.4%	92.5%	68.9%	45.4%
IV Percentile	87.8%	65.9%	99.2%	94.4%	65.9%
Term Structure	-0.3%	-1.1%	0.6%	0.4%	0.0%
VWIV	8.4%	6.9%	10.3%	10.3%	6.9%
Skew 25d	1.1%	0.6%	2.0%	1.2%	1.6%
Skew 10d	3.3%	0.4%	25.7%	1.7%	25.7%
Call IV 25d	7.9%	5.7%	9.0%	8.6%	5.7%
Put IV 25d	9.0%	7.2%	10.3%	9.8%	7.3%
Bid-Ask Spread %	89.04	80.01	101.07	95.68	101.07
Gamma HHI	0.33	0.13	0.70	0.43	0.20
Net GEX	-6.4M	-21.9M	3.5M	-20.2M	1.6M
Net DEX	9.3M	-2.2M	35.9M	35.9M	-39.9K
Net VEX	-52.0K	-125.3K	-26.3K	-125.3K	-29.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	7.94	1.53	13.30	7.46	9.48
Total Volume	1,516.65	1,144	2,647	1,802	1,174
Total OI	11,698.2	4,567	18,859	18,824	4,674

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
2022-07-01	$106.53	$107.00	8.3%	2.4%	6.5%	68.9%	10.3%	1.2%	0.4%	-20.2M	35.9M	-125.3K	7.46	95.68	213	1,589	3,576	15,248
2022-07-05	$106.97	$106.00	9.3%	2.6%	6.8%	79.3%	9.3%	1.5%	-0.7%	-16.6M	23.9M	-98.2K	6.76	82.72	237	1,602	3,578	15,238
2022-07-06	$107.01	$106.00	8.8%	2.6%	6.7%	74.3%	9.0%	1.0%	-0.5%	-17.6M	21.6M	-89.5K	1.53	86.01	1,045	1,602	3,606	15,253
2022-07-07	$106.91	$106.00	8.8%	2.5%	6.7%	73.6%	8.9%	1.2%	-0.6%	-17.9M	21.6M	-84.9K	5.31	84.76	301	1,597	3,437	15,253
2022-07-08	$106.63	$106.00	8.2%	2.5%	6.7%	66.8%	9.0%	1.4%	-0.6%	-21.9M	26.9M	-88.1K	4.92	86.44	320	1,575	3,437	15,261
2022-07-11	$106.95	$106.00	9.7%	2.5%	6.6%	83.8%	9.1%	0.9%	-0.4%	-17.3M	20.7M	-69.9K	5.19	87.45	301	1,563	3,448	15,284
2022-07-12	$107.16	$106.00	10.5%	2.6%	6.5%	92.5%	9.0%	1.1%	-1.1%	-12.9M	11.3M	-56.6K	4.68	82.22	301	1,409	3,451	15,290
2022-07-13	$107.21	$106.00	8.7%	2.5%	3.7%	73.0%	8.7%	1.0%	-0.8%	-12.7M	6.9M	-47.2K	4.80	86.05	283	1,358	3,453	15,299
2022-07-14	$107.33	$106.00	8.8%	2.5%	3.6%	73.8%	8.9%	1.3%	-0.5%	-5.0M	147.6K	-37.8K	4.99	82.89	273	1,363	3,455	15,310
2022-07-15	$107.55	$106.00	8.3%	2.4%	3.6%	68.5%	8.4%	1.2%	-0.3%	3.5M	-2.2M	-37.1K	4.52	80.01	296	1,337	3,456	15,316
2022-07-18	$107.29	$106.00	8.4%	2.4%	3.8%	69.2%	8.7%	1.1%	-0.5%	708.9K	2.6M	-36.9K	9.86	84.93	108	1,065	2,164	2,403
2022-07-19	$107.26	$106.00	7.8%	2.2%	3.8%	62.9%	8.6%	2.0%	-0.3%	193.0K	4.2M	-29.1K	9.71	86.59	110	1,068	2,172	2,417
2022-07-20	$107.43	$106.00	7.9%	2.3%	3.6%	63.8%	8.1%	0.9%	-0.5%	1.2M	2.3M	-33.5K	10.47	87.70	102	1,068	2,172	2,425
2022-07-21	$107.51	$106.00	7.0%	2.0%	3.4%	53.8%	7.7%	1.2%	-0.1%	1.2M	2.5M	-31.3K	13.30	87.25	80	1,064	2,174	2,425
2022-07-22	$107.97	$106.00	6.9%	2.0%	3.6%	52.8%	7.4%	1.0%	0.1%	1.3M	1.3M	-31.3K	11.27	95.23	98	1,104	2,178	2,424
2022-07-25	$107.56	$107.00	7.4%	2.1%	4.0%	58.8%	7.9%	0.8%	-0.3%	1.0M	2.6M	-30.4K	11.20	89.59	98	1,098	2,210	2,464
2022-07-26	$107.79	$107.00	7.2%	2.1%	4.0%	56.5%	7.1%	0.6%	0.6%	1.1M	2.1M	-28.9K	11.62	97.63	94	1,092	2,210	2,467
2022-07-27	$107.91	$107.00	6.8%	2.0%	3.7%	52.5%	7.6%	1.1%	0.3%	1.2M	1.7M	-28.6K	11.15	97.36	96	1,070	2,213	2,453
2022-07-28	$108.39	$107.00	7.0%	2.0%	3.7%	54.0%	7.1%	1.1%	-0.5%	1.4M	274.0K	-26.3K	10.67	99.16	101	1,078	2,216	2,454
2022-07-29	$108.55	$107.00	6.2%	1.8%	3.5%	45.4%	6.9%	1.6%	0.0%	1.6M	-39.9K	-29.7K	9.48	101.07	112	1,062	2,220	2,454