MUB Options History — December 2022

In December 2022, MUB traded between $105.37 and $106.77. ATM implied volatility averaged 7.2%, placing in the 19.4% IV rank vs the trailing year. The 30-day expected move averaged 2.0%. IV traded above realized volatility by 2.3% (HV 20d: 4.9%). Max pain ranged from $105.00 to $107.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 12.98.

Notable Days

2022-12-30: Highest Volume — 1,444 contracts
2022-12-09: Largest IV drop — 26.9% change
2022-12-08: Highest IV Rank — 24.8%
2022-12-01: Largest Expected Move — 2.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$106.07	$105.37	$106.77	$106.44	$105.55
Max Pain	$105.90	$105.00	$107.00	$105.00	$106.00
ATM IV	7.2%	6.2%	8.6%	8.0%	6.8%
Expected Move	2.0%	1.8%	2.3%	2.3%	2.0%
HV 20d	4.9%	3.9%	6.6%	6.4%	3.9%
HV 60d	6.7%	5.3%	9.5%	9.5%	5.3%
IV Rank	19.4%	15.8%	24.8%	22.3%	17.9%
IV Percentile	55.0%	29.8%	80.6%	74.2%	46.4%
Term Structure	0.5%	-0.7%	2.1%	-0.7%	-0.0%
VWIV	7.2%	6.0%	12.5%	7.9%	6.6%
Skew 25d	1.6%	0.3%	3.3%	2.6%	0.3%
Skew 10d	2.0%	-1.0%	21.5%	3.4%	21.5%
Call IV 25d	5.8%	4.3%	7.2%	5.5%	7.2%
Put IV 25d	7.3%	5.5%	8.5%	8.1%	7.5%
Bid-Ask Spread %	104.98	85.35	123.27	107.61	123.27
Gamma HHI	0.15	0.12	0.20	0.16	0.13
Net GEX	235.9K	-133.9K	408.3K	314.2K	95.6K
Net DEX	-1.8M	-4.2M	1.0M	-3.0M	1.0M
Net VEX	-15.2K	-20.6K	-13.5K	-16.0K	-20.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	12.98	0.16	57.00	8.50	1.84
Total Volume	161.333	0	1,444	133	1,444
Total OI	1,338.952	1,030	1,963	1,442	1,963

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
2022-12-01	$106.44	$105.00	8.0%	2.3%	6.4%	22.3%	7.9%	2.6%	-0.7%	314.2K	-3.0M	-16.0K	8.50	107.61	14	119	693	749
2022-12-02	$106.31	$105.00	7.7%	2.2%	6.4%	21.2%	12.5%	3.3%	-0.2%	378.5K	-2.9M	-15.4K	1.00	109.85	1	1	688	707
2022-12-05	$106.20	$105.00	7.9%	2.1%	6.5%	22.0%	6.9%	1.3%	0.3%	366.4K	-2.9M	-15.3K	4.50	103.82	12	54	689	707
2022-12-06	$106.28	$105.00	7.9%	1.9%	6.4%	22.1%	7.0%	0.8%	0.6%	387.2K	-3.0M	-15.4K	57.00	105.50	1	57	700	719
2022-12-07	$106.75	$105.00	7.0%	1.9%	6.4%	18.5%	0.0%	1.3%	0.0%	392.6K	-3.2M	-15.0K	1.09	105.05	11	12	701	768
2022-12-08	$106.50	$105.00	8.6%	2.1%	6.6%	24.8%	0.0%	0.7%	0.5%	367.3K	-3.1M	-15.3K	0.33	102.64	6	2	720	788
2022-12-09	$106.25	$105.00	6.3%	2.2%	4.9%	16.0%	6.4%	0.5%	0.1%	355.9K	-3.2M	-15.3K	1.50	105.58	4	6	726	791
2022-12-12	$106.16	$105.00	8.0%	2.0%	4.9%	22.2%	0.0%	1.3%	0.4%	408.3K	-3.1M	-14.2K	24.00	101.39	1	24	730	795
2022-12-13	$106.69	$105.00	8.1%	2.1%	4.5%	22.8%	0.0%	1.5%	0.1%	361.0K	-3.8M	-14.1K	3.00	99.50	1	3	731	818
2022-12-14	$106.77	$105.00	7.4%	2.1%	4.0%	20.2%	6.5%	2.0%	-0.1%	329.8K	-4.2M	-13.9K	0.33	106.96	3	1	731	817
2022-12-15	$106.40	$105.00	6.7%	1.9%	3.9%	17.3%	6.4%	0.5%	1.1%	7.4K	-1.6M	-13.5K	41.00	102.13	1	41	491	818
2022-12-16	$106.16	$107.00	6.8%	1.9%	4.0%	17.9%	6.7%	1.1%	1.3%	-133.9K	-1.2M	-14.1K	0.16	102.03	58	9	492	857
2022-12-19	$105.94	$107.00	6.6%	1.9%	4.1%	17.1%	6.0%	2.3%	0.9%	251.4K	-949.4K	-14.6K	6.67	100.49	3	20	495	535
2022-12-20	$105.52	$107.00	6.2%	1.8%	4.4%	15.8%	6.6%	2.1%	1.6%	174.4K	-620.6K	-15.0K	0.00	85.35	0	2	498	555
2022-12-21	$105.65	$107.00	6.4%	1.8%	4.3%	16.4%	0.0%	3.0%	0.9%	174.5K	-669.1K	-14.6K	0.00	106.53	0	0	498	558
2022-12-22	$105.87	$107.00	7.2%	2.1%	4.3%	19.3%	7.3%	1.2%	0.6%	191.5K	-743.9K	-14.7K	0.00	107.82	0	34	498	558
2022-12-23	$105.66	$107.00	6.3%	1.8%	4.3%	16.1%	0.0%	2.7%	2.1%	175.9K	-505.3K	-15.4K	0.00	108.64	0	0	498	589
2022-12-27	$105.37	$107.00	6.8%	2.0%	4.4%	18.0%	0.0%	0.5%	0.6%	167.0K	-346.9K	-14.8K	26.67	106.71	3	80	502	589
2022-12-28	$105.43	$107.00	6.6%	1.9%	4.3%	17.0%	6.7%	1.4%	1.3%	90.5K	-161.1K	-15.7K	42.00	107.78	1	42	504	655
2022-12-29	$105.63	$107.00	7.8%	2.2%	3.9%	21.5%	7.8%	2.3%	-0.0%	98.7K	-230.5K	-16.7K	1.00	105.84	660	657	505	692
2022-12-30	$105.55	$106.00	6.8%	2.0%	3.9%	17.9%	6.6%	0.3%	-0.0%	95.6K	1.0M	-20.6K	1.84	123.27	508	936	889	1,074