MUB Options History — December 2023

In December 2023, MUB traded between $106.66 and $108.78. ATM implied volatility averaged 5.8%, placing in the 30.7% IV rank vs the trailing year. The 30-day expected move averaged 1.5%. IV traded above realized volatility by 1.6% (HV 20d: 4.2%). Max pain ranged from $105.00 to $107.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 18 of 20 days. Put/call ratio averaged 98.44.

Notable Days

2023-12-05: Highest Volume — 8,165 contracts
2023-12-13: Largest IV drop — 27.9% change
2023-12-11: Highest IV Rank — 52.4%
2023-12-01: Largest Expected Move — 1.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$107.74	$106.66	$108.78	$106.94	$108.41
Max Pain	$105.25	$105.00	$107.00	$106.00	$107.00
ATM IV	5.8%	4.9%	7.4%	6.0%	5.0%
Expected Move	1.5%	1.4%	1.7%	1.7%	1.4%
HV 20d	4.2%	3.8%	5.2%	5.1%	3.8%
HV 60d	5.7%	5.2%	5.9%	5.8%	5.2%
IV Rank	30.7%	17.6%	52.4%	32.8%	19.0%
IV Percentile	49.7%	20.2%	92.9%	54.8%	21.8%
Term Structure	0.3%	-1.0%	1.6%	-1.0%	1.6%
VWIV	5.5%	4.5%	7.2%	5.0%	4.9%
Skew 25d	0.3%	-0.2%	0.9%	0.2%	0.1%
Skew 10d	1.9%	-2.0%	22.3%	22.3%	-1.6%
Call IV 25d	5.3%	4.5%	6.2%	6.2%	5.2%
Put IV 25d	5.6%	5.1%	6.3%	6.3%	5.3%
Bid-Ask Spread %	61.95	12.38	107.55	32.96	25.60
Gamma HHI	0.27	0.21	0.44	0.30	0.22
Net GEX	12.4M	-22.3M	38.6M	26.7M	9.0M
Net DEX	-141.9M	-154.9M	-120.4M	-152.9M	-136.5M
Net VEX	-342.9K	-426.4K	-234.3K	-375.2K	-354.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	98.44	0.00	1632.00	0.64	0.53
Total Volume	1,057.95	0	8,165	82	913
Total OI	35,403.1	32,771	42,059	35,703	33,071

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
2023-12-01	$106.94	$106.00	6.0%	1.7%	5.1%	32.8%	0.0%	0.2%	-1.0%	26.7M	-152.9M	-375.2K	0.64	32.96	50	32	22,031	13,672
2023-12-04	$106.66	$105.00	6.7%	1.4%	5.2%	42.9%	5.0%	0.6%	0.3%	25.5M	-142.1M	-400.3K	44.59	96.98	17	758	22,037	13,706
2023-12-05	$107.00	$105.00	6.9%	1.4%	5.0%	45.8%	4.5%	0.9%	0.3%	38.6M	-151.2M	-310.6K	1632.00	95.35	5	8,160	22,046	14,448
2023-12-06	$107.22	$105.00	6.8%	1.5%	4.9%	43.1%	5.1%	0.4%	0.1%	25.5M	-150.3M	-337.3K	0.11	59.44	470	52	22,051	13,599
2023-12-07	$107.28	$105.00	7.3%	1.6%	4.7%	50.3%	5.0%	0.6%	-0.2%	7.2M	-154.9M	-348.5K	0.00	52.05	5	0	22,509	13,647
2023-12-08	$107.09	$105.00	6.4%	1.5%	4.1%	38.0%	5.3%	0.4%	0.3%	31.8M	-147.7M	-360.0K	87.07	93.83	46	4,005	22,513	13,647
2023-12-11	$107.00	$105.00	7.4%	1.5%	4.2%	52.4%	5.5%	0.8%	0.1%	7.0M	-120.4M	-379.9K	8.06	97.17	124	1,000	22,525	17,652
2023-12-12	$107.13	$105.00	6.9%	1.5%	4.1%	44.9%	0.0%	0.6%	0.1%	-22.3M	-137.3M	-315.0K	18.94	86.85	16	303	22,612	19,130
2023-12-13	$107.78	$105.00	5.0%	1.4%	4.0%	18.4%	5.9%	-0.2%	0.6%	-5.2M	-146.7M	-426.4K	22.27	107.55	190	4,231	22,626	19,433
2023-12-14	$108.05	$105.00	5.3%	1.5%	3.9%	22.6%	5.2%	0.1%	0.4%	11.3M	-134.1M	-404.2K	1.04	90.37	25	26	19,709	16,535
2023-12-15	$108.05	$105.00	5.3%	1.5%	3.9%	22.6%	5.2%	0.3%	0.3%	10.9M	-134.4M	-395.9K	0.00	91.40	317	1	19,728	16,557
2023-12-18	$107.84	$105.00	5.4%	1.5%	4.1%	24.4%	0.0%	-0.0%	0.0%	13.2M	-133.9M	-313.8K	0.00	16.92	0	0	19,222	13,549
2023-12-19	$108.05	$105.00	5.4%	1.5%	4.1%	24.2%	5.5%	0.2%	0.0%	9.0M	-134.6M	-336.2K	0.68	80.21	37	25	19,222	13,549
2023-12-20	$108.27	$105.00	5.4%	1.5%	4.1%	24.2%	0.0%	0.4%	0.4%	8.9M	-135.0M	-357.6K	0.44	25.75	9	4	19,223	13,558
2023-12-21	$108.20	$105.00	5.2%	1.5%	4.1%	21.7%	7.1%	0.4%	0.3%	10.0M	-132.3M	-374.4K	0.00	29.06	17	0	19,223	13,562
2023-12-22	$108.25	$105.00	5.2%	1.5%	3.9%	22.2%	7.2%	0.1%	0.2%	9.5M	-137.8M	-334.8K	0.00	12.38	61	0	19,238	13,562
2023-12-26	$108.38	$105.00	5.5%	1.6%	3.9%	25.4%	0.0%	0.5%	0.3%	15.2M	-148.7M	-243.3K	0.50	19.21	4	2	19,253	13,562
2023-12-27	$108.78	$105.00	5.1%	1.5%	3.9%	20.5%	5.5%	0.5%	0.4%	8.2M	-154.1M	-256.1K	53.25	34.38	4	213	19,255	13,564
2023-12-28	$108.48	$107.00	4.9%	1.4%	3.8%	17.6%	5.2%	-0.2%	0.6%	7.5M	-152.6M	-234.3K	0.23	91.61	30	7	19,259	13,777
2023-12-29	$108.41	$107.00	5.0%	1.4%	3.8%	19.0%	4.9%	0.1%	1.6%	9.0M	-136.5M	-354.3K	0.53	25.60	595	318	19,289	13,782