MUB Options History — February 2025

In February 2025, MUB traded between $106.09 and $107.65. ATM implied volatility averaged 5.2%, placing in the 26.9% IV rank vs the trailing year. The 30-day expected move averaged 1.5%. IV traded above realized volatility by 1.2% (HV 20d: 4.0%). Max pain ranged from $107.00 to $107.00. Net GEX was positive for 7 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 25.25.

Notable Days

2025-02-28: Highest Volume — 8,241 contracts
2025-02-19: Largest IV spike — 49.6% change
2025-02-19: Highest IV Rank — 57.2%
2025-02-19: Largest Expected Move — 2.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$106.89	$106.09	$107.65	$106.48	$107.63
Max Pain	$107.00	$107.00	$107.00	$107.00	$107.00
ATM IV	5.2%	4.5%	7.8%	5.4%	5.4%
Expected Move	1.5%	1.2%	2.2%	1.5%	1.5%
HV 20d	4.0%	3.7%	4.3%	4.1%	3.8%
HV 60d	4.3%	4.0%	5.1%	5.1%	4.2%
IV Rank	26.9%	18.3%	57.2%	29.1%	29.2%
IV Percentile	69.6%	43.7%	97.2%	80.2%	81.7%
Term Structure	0.2%	-3.2%	3.8%	-0.0%	-0.1%
VWIV	5.2%	3.1%	8.2%	5.4%	5.3%
Skew 25d	0.5%	-3.4%	3.3%	0.4%	1.7%
Skew 10d	2.3%	-1.0%	7.2%	-1.0%	3.1%
Call IV 25d	5.1%	3.8%	8.1%	5.4%	4.3%
Put IV 25d	5.6%	3.8%	7.6%	5.8%	5.9%
Bid-Ask Spread %	20.80	6.28	62.20	9.24	16.57
Gamma HHI	0.67	0.24	0.93	0.85	0.41
Net GEX	-23.4M	-64.0M	5.5M	-38.6M	2.1M
Net DEX	15.0M	-5.3M	49.1M	43.9M	-3.1M
Net VEX	-62.2K	-109.8K	-20.7K	-109.8K	-42.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	25.25	0.00	222.00	0.59	0.00
Total Volume	809.158	1	8,241	35	8,241
Total OI	16,084.316	8,184	21,238	15,546	8,300

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
2025-02-03	$106.48	$107.00	5.4%	1.5%	4.1%	29.1%	5.4%	0.4%	-0.0%	-38.6M	43.9M	-109.8K	0.59	9.24	22	13	328	15,218
2025-02-04	$106.63	$107.00	5.4%	1.6%	4.1%	29.7%	5.5%	0.8%	-0.4%	-33.3M	39.0M	-101.9K	2.46	8.56	104	256	348	15,228
2025-02-05	$107.02	$107.00	5.6%	1.6%	4.3%	31.6%	5.6%	0.4%	-0.3%	-28.1M	26.1M	-86.1K	1.63	6.28	80	130	450	15,439
2025-02-06	$106.94	$107.00	5.5%	1.5%	4.3%	30.3%	8.2%	2.1%	3.8%	-29.5M	26.5M	-84.3K	0.31	20.96	13	4	522	15,552
2025-02-07	$106.72	$107.00	5.4%	1.6%	4.2%	29.1%	0.0%	0.5%	0.1%	-35.1M	31.9M	-89.0K	171.17	62.20	6	1,027	527	15,555
2025-02-10	$106.69	$107.00	5.3%	1.6%	3.8%	28.5%	0.0%	0.7%	0.0%	-36.2M	29.0M	-76.9K	0.01	27.07	4,017	30	527	16,545
2025-02-11	$106.60	$107.00	4.5%	1.2%	3.7%	18.3%	4.4%	-0.9%	2.2%	-39.2M	21.3M	-100.0K	15.14	25.92	14	212	4,302	16,575
2025-02-12	$106.09	$107.00	5.3%	1.5%	4.1%	27.5%	5.5%	0.6%	0.5%	-64.0M	49.1M	-99.6K	222.00	46.68	1	222	3,975	16,777
2025-02-13	$106.56	$107.00	4.6%	1.3%	3.9%	19.5%	0.0%	-0.2%	0.9%	-49.8M	20.3M	-89.9K	17.50	21.15	2	35	3,986	16,941
2025-02-14	$106.69	$107.00	4.8%	1.4%	3.9%	21.9%	5.2%	0.8%	0.7%	-37.0M	7.4M	-68.0K	0.00	15.08	0	141	3,935	16,976
2025-02-18	$106.47	$107.00	5.2%	1.5%	4.0%	26.8%	5.2%	0.7%	0.2%	-47.5M	6.5M	-43.0K	11.09	16.61	11	122	3,935	17,115
2025-02-19	$106.73	$107.00	7.8%	2.2%	4.0%	57.2%	3.1%	-3.4%	-3.2%	-21.5M	1.5M	-28.5K	0.10	25.51	230	24	3,855	17,224
2025-02-20	$106.84	$107.00	4.5%	1.3%	4.0%	19.2%	0.0%	0.8%	0.2%	2.5M	-2.5M	-23.5K	0.13	13.11	8	1	4,002	17,236
2025-02-21	$107.12	$107.00	5.0%	1.4%	4.0%	24.3%	4.9%	0.8%	0.1%	5.5M	-5.3M	-22.1K	2.86	16.13	73	209	3,939	17,237
2025-02-24	$107.10	$107.00	4.8%	1.4%	3.9%	22.0%	5.6%	-1.7%	-0.0%	246.3K	-249.0K	-34.6K	1.08	19.57	51	55	3,330	4,854
2025-02-25	$107.47	$107.00	4.8%	1.4%	3.7%	21.8%	4.4%	3.3%	-0.1%	1.4M	-1.2M	-20.7K	1.00	20.21	1	1	3,381	4,907
2025-02-26	$107.65	$107.00	4.6%	1.3%	3.7%	19.8%	0.0%	0.7%	-0.1%	2.0M	-2.5M	-29.2K	0.00	12.32	1	0	3,382	4,908
2025-02-27	$107.41	$107.00	5.0%	1.4%	3.7%	24.6%	5.1%	0.9%	0.1%	881.9K	-1.7M	-32.8K	7.50	12.08	2	15	3,383	4,908
2025-02-28	$107.63	$107.00	5.4%	1.5%	3.8%	29.2%	5.3%	1.7%	-0.1%	2.1M	-3.1M	-42.5K	0.00	16.57	8,241	0	3,385	4,915