MUB Options History — September 2023

In September 2023, MUB traded between $102.53 and $105.15. ATM implied volatility averaged 5.2%, placing in the 21.5% IV rank vs the trailing year. The 30-day expected move averaged 1.5%. IV traded above realized volatility by 2.1% (HV 20d: 3.1%). Max pain ranged from $104.00 to $106.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 5.87.

Notable Days

2023-09-21: Highest Volume — 8,014 contracts
2023-09-11: Largest IV spike — 30.2% change
2023-09-11: Highest IV Rank — 35.0%
2023-09-27: Largest Expected Move — 1.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$104.26	$102.53	$105.15	$105.15	$102.59
Max Pain	$104.90	$104.00	$106.00	$105.00	$104.00
ATM IV	5.2%	4.4%	6.2%	5.0%	5.8%
Expected Move	1.5%	1.3%	1.7%	1.4%	1.7%
HV 20d	3.1%	2.6%	3.9%	3.0%	3.7%
HV 60d	3.7%	3.6%	3.9%	3.8%	3.9%
IV Rank	21.5%	10.8%	35.0%	18.5%	29.9%
IV Percentile	25.7%	6.7%	48.0%	17.1%	46.0%
Term Structure	0.2%	-0.1%	0.6%	0.5%	-0.0%
VWIV	5.2%	4.5%	6.0%	5.0%	6.0%
Skew 25d	0.9%	-0.2%	2.1%	-0.2%	0.4%
Skew 10d	6.0%	-0.3%	21.4%	21.4%	-0.3%
Call IV 25d	5.0%	3.6%	6.0%	5.5%	6.0%
Put IV 25d	5.9%	5.1%	6.8%	5.3%	6.5%
Bid-Ask Spread %	75.92	49.64	113.33	80.14	94.99
Gamma HHI	0.48	0.18	0.85	0.50	0.54
Net GEX	3.8M	-6.6M	23.9M	4.9M	-6.6M
Net DEX	1.4M	-12.6M	27.3M	-8.8M	26.8M
Net VEX	-35.7K	-82.1K	-6.2K	-42.3K	-60.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	5.87	0.00	41.50	0.75	1.00
Total Volume	645.45	0	8,014	11	4,016
Total OI	6,075.55	882	9,231	6,185	9,231

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
2023-09-01	$105.15	$105.00	5.0%	1.4%	3.0%	18.5%	5.0%	-0.2%	0.5%	4.9M	-8.8M	-42.3K	0.00	80.14	0	11	3,163	3,022
2023-09-05	$104.88	$105.00	5.1%	1.6%	3.1%	19.9%	0.0%	0.9%	0.1%	4.1M	-6.1M	-35.7K	0.00	113.33	0	22	3,163	3,032
2023-09-06	$104.95	$105.00	5.0%	1.6%	2.9%	19.4%	0.0%	0.8%	0.1%	6.0M	-6.9M	-34.8K	0.75	109.32	4	3	3,163	3,054
2023-09-07	$104.82	$105.00	4.8%	1.6%	2.9%	15.8%	4.5%	0.8%	0.1%	5.7M	-4.8M	-31.9K	41.50	59.60	2	83	3,167	3,057
2023-09-08	$104.91	$106.00	4.7%	1.5%	2.9%	15.4%	0.0%	0.8%	0.3%	7.2M	-6.7M	-29.0K	0.00	55.27	5	0	3,169	3,094
2023-09-11	$104.94	$106.00	6.2%	1.6%	2.9%	35.0%	0.0%	1.0%	-0.1%	9.0M	-8.5M	-23.1K	0.00	66.82	0	8	3,174	3,094
2023-09-12	$104.88	$106.00	5.9%	1.6%	2.9%	31.4%	5.4%	0.8%	0.1%	10.7M	-7.7M	-18.9K	0.00	67.57	0	31	3,176	3,090
2023-09-13	$105.00	$106.00	5.3%	1.5%	2.8%	23.5%	0.0%	0.8%	0.1%	23.9M	-12.6M	-13.9K	0.00	109.79	0	0	3,176	3,100
2023-09-14	$104.75	$106.00	5.3%	1.5%	2.9%	22.3%	0.0%	1.1%	-0.1%	17.5M	-5.2M	-12.1K	0.00	61.02	0	26	3,176	3,100
2023-09-15	$104.72	$106.00	4.8%	1.4%	2.7%	15.8%	5.0%	0.9%	0.4%	12.1M	-3.9M	-8.2K	0.31	77.91	121	37	3,176	3,126
2023-09-18	$104.81	$106.00	4.5%	1.3%	2.7%	12.7%	4.9%	2.1%	0.6%	-242.7K	1.1M	-6.2K	0.13	59.15	82	11	350	532
2023-09-19	$104.56	$104.00	4.6%	1.3%	2.7%	13.3%	4.5%	1.3%	0.4%	-264.1K	1.2M	-6.6K	0.10	56.55	100	10	432	543
2023-09-20	$104.59	$104.00	4.4%	1.3%	2.6%	10.8%	4.7%	1.3%	0.4%	5.7K	1.1M	-7.3K	1.67	79.22	9	15	532	542
2023-09-21	$103.94	$104.00	5.0%	1.4%	3.1%	18.8%	5.0%	1.2%	0.3%	-160.9K	1.6M	-7.8K	1.00	68.09	4,000	4,014	535	557
2023-09-22	$103.94	$104.00	4.7%	1.4%	3.1%	15.0%	0.0%	0.5%	0.1%	-922.6K	-6.1M	-80.2K	0.00	49.64	0	1	4,535	4,571
2023-09-25	$103.19	$104.00	5.7%	1.6%	3.9%	28.5%	5.8%	0.7%	-0.1%	-3.0M	11.9M	-82.1K	3.00	68.74	21	63	4,535	4,572
2023-09-26	$103.09	$104.00	5.6%	1.6%	3.8%	27.6%	5.6%	0.6%	0.0%	-3.9M	14.8M	-79.4K	9.00	73.05	1	9	4,547	4,627
2023-09-27	$102.87	$104.00	5.9%	1.7%	3.7%	31.4%	6.0%	0.5%	-0.0%	-4.3M	18.8M	-73.3K	12.85	83.74	13	167	4,548	4,632
2023-09-28	$102.53	$104.00	5.4%	1.6%	3.7%	25.0%	0.0%	1.1%	0.2%	-6.3M	27.3M	-60.9K	5.00	84.48	4	20	4,554	4,664
2023-09-29	$102.59	$104.00	5.8%	1.7%	3.7%	29.9%	6.0%	0.4%	-0.0%	-6.6M	26.8M	-60.2K	1.00	94.99	2,010	2,006	4,558	4,673