MUB Options History — February 2023

In February 2023, MUB traded between $105.22 and $108.50. ATM implied volatility averaged 4.7%, placing in the 3.1% IV rank vs the trailing year. The 30-day expected move averaged 1.4%. IV traded above realized volatility by 0.8% (HV 20d: 4.0%). Max pain ranged from $106.00 to $110.00. Net GEX was positive for 13 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 3.87.

Notable Days

2023-02-08: Highest Volume — 1,170 contracts
2023-02-24: Largest IV spike — 31.1% change
2023-02-13: Highest IV Rank — 7.3%
2023-02-13: Largest Expected Move — 1.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$106.70	$105.22	$108.50	$108.40	$105.41
Max Pain	$107.79	$106.00	$110.00	$110.00	$106.00
ATM IV	4.7%	4.0%	5.8%	4.6%	4.1%
Expected Move	1.4%	1.2%	1.7%	1.3%	1.2%
HV 20d	4.0%	3.4%	4.5%	3.6%	4.5%
HV 60d	4.5%	3.8%	5.2%	5.0%	4.2%
IV Rank	3.1%	0.0%	7.3%	1.8%	0.7%
IV Percentile	4.9%	0.0%	13.1%	2.0%	0.4%
Term Structure	0.0%	-0.8%	1.2%	-0.2%	-0.6%
VWIV	6.7%	3.1%	19.1%	4.7%	6.0%
Skew 25d	2.9%	0.2%	19.8%	19.8%	7.5%
Skew 10d	16.9%	-1.4%	43.8%	43.8%	31.4%
Call IV 25d	4.5%	2.8%	5.8%	2.8%	5.7%
Put IV 25d	7.4%	4.6%	22.6%	22.6%	13.1%
Bid-Ask Spread %	116.11	77.50	129.37	117.10	119.49
Gamma HHI	0.37	0.13	0.90	0.26	0.17
Net GEX	5.8M	-222.0K	22.3M	1.1M	-208.0K
Net DEX	-7.7M	-36.3M	5.4M	2.0M	1.1M
Net VEX	-19.4K	-36.7K	-12.5K	-13.9K	-12.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.87	0.00	44.00	0.67	0.11
Total Volume	236.053	1	1,170	10	21
Total OI	3,558.789	1,299	6,967	2,323	1,391

Daily Data (19 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
2023-02-01	$108.40	$110.00	4.6%	1.3%	3.6%	1.8%	4.7%	19.8%	-0.2%	1.1M	2.0M	-13.9K	0.67	117.10	6	4	1,034	1,289
2023-02-02	$108.50	$108.00	4.0%	1.3%	3.4%	0.0%	5.1%	0.5%	0.2%	952.9K	2.1M	-16.5K	3.00	77.50	1	3	1,035	1,293
2023-02-03	$107.90	$108.00	4.6%	1.3%	4.1%	2.6%	4.6%	0.3%	0.1%	848.7K	3.1M	-15.3K	0.00	122.28	19	0	1,036	1,294
2023-02-06	$107.52	$108.00	5.1%	1.3%	4.1%	4.7%	0.0%	0.3%	0.4%	644.4K	3.4M	-15.1K	0.00	116.15	1,000	0	1,037	1,294
2023-02-07	$107.44	$108.00	4.3%	1.4%	4.1%	1.5%	0.0%	0.5%	-0.3%	6.4M	-3.5M	-19.7K	0.00	108.85	1,100	0	2,037	1,294
2023-02-08	$107.41	$108.00	4.3%	1.2%	4.1%	1.4%	3.7%	0.7%	1.2%	10.2M	-23.9M	-26.4K	0.10	108.10	1,060	110	4,075	1,294
2023-02-09	$107.40	$108.00	4.6%	1.3%	3.9%	2.7%	0.0%	0.5%	-0.6%	10.2M	-33.3M	-27.3K	0.02	124.67	1,005	18	5,113	1,337
2023-02-10	$107.16	$108.00	5.2%	1.5%	3.7%	5.2%	3.1%	0.3%	-0.0%	17.9M	-31.5M	-36.7K	0.00	110.45	6	0	5,616	1,351
2023-02-13	$107.25	$108.00	5.8%	1.7%	3.7%	7.3%	19.1%	0.8%	-0.4%	17.0M	-36.3M	-26.1K	0.00	84.86	0	5	5,616	1,351
2023-02-14	$107.20	$108.00	5.3%	1.5%	3.7%	5.3%	0.0%	0.4%	-0.2%	18.2M	-34.2M	-27.7K	0.00	98.88	0	2	5,616	1,351
2023-02-15	$106.78	$108.00	5.2%	1.5%	3.4%	4.9%	4.8%	0.2%	0.2%	22.3M	-9.5M	-23.1K	0.00	126.89	0	15	3,830	1,349
2023-02-16	$106.23	$108.00	4.4%	1.3%	3.7%	1.9%	14.1%	0.4%	0.0%	5.9M	3.9M	-18.1K	5.50	128.88	2	11	3,118	1,364
2023-02-17	$105.90	$108.00	4.2%	1.2%	3.8%	1.1%	0.0%	2.6%	0.5%	56.7K	5.4M	-13.3K	0.00	129.22	1	0	3,120	1,369
2023-02-21	$105.22	$108.00	5.1%	1.5%	4.2%	4.7%	5.2%	1.7%	0.2%	-41.4K	645.4K	-14.8K	44.00	123.42	1	44	612	687
2023-02-22	$105.37	$108.00	4.5%	1.3%	4.2%	2.3%	5.1%	0.8%	0.0%	-37.0K	480.3K	-15.9K	2.00	126.37	1	2	611	731
2023-02-23	$105.60	$107.00	4.2%	1.2%	4.3%	1.1%	0.0%	6.8%	0.8%	-127.5K	797.9K	-16.4K	0.00	129.37	0	1	612	733
2023-02-24	$105.22	$107.00	5.6%	1.6%	4.3%	6.5%	5.7%	0.2%	-0.8%	-222.0K	1.1M	-15.2K	2.70	126.29	10	27	612	734
2023-02-27	$105.44	$106.00	4.7%	1.3%	4.5%	2.8%	5.8%	10.0%	-0.5%	-146.4K	1.0M	-14.8K	0.00	127.28	10	0	622	759
2023-02-28	$105.41	$106.00	4.1%	1.2%	4.5%	0.7%	6.0%	7.5%	-0.6%	-208.0K	1.1M	-12.5K	0.11	119.49	19	2	632	759