MUB Options History — May 2025

In May 2025, MUB traded between $103.70 and $104.53. ATM implied volatility averaged 6.0%, placing in the 20.6% IV rank vs the trailing year. The 30-day expected move averaged 1.8%. IV traded above realized volatility by 0.5% (HV 20d: 5.5%). Max pain ranged from $104.00 to $104.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 63.68.

Notable Days

  • 2025-05-14: Highest Volume — 12,138 contracts
  • 2025-05-08: Largest IV drop — 20.3% change
  • 2025-05-05: Highest IV Rank — 27.1%
  • 2025-05-05: Largest Expected Move — 2.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$104.16$103.70$104.53$104.33$103.94
Max Pain$104.00$104.00$104.00$104.00$104.00
ATM IV6.0%5.2%7.0%7.0%5.5%
Expected Move1.8%1.5%2.1%2.0%1.6%
HV 20d5.5%3.6%10.3%10.3%3.6%
HV 60d6.6%6.5%6.7%6.7%6.5%
IV Rank20.6%15.1%27.1%26.8%17.1%
IV Percentile74.1%54.4%84.5%84.5%64.7%
Term Structure0.7%-2.9%1.7%0.7%0.7%
VWIV6.5%5.6%8.6%6.7%5.6%
Skew 25d0.1%-1.1%3.4%0.5%-0.1%
Skew 10d-0.0%-3.2%2.7%2.7%0.7%
Call IV 25d6.3%4.2%7.1%6.8%5.6%
Put IV 25d6.4%4.9%7.7%7.2%5.5%
Bid-Ask Spread %23.4315.1938.7115.6815.45
Gamma HHI0.250.190.350.250.19
Net GEX19.4M8.1M32.9M15.4M32.3M
Net DEX-57.0M-89.2M-16.4M-72.8M-67.9M
Net VEX-841.1K-990.6K-601.4K-830.1K-990.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio63.680.00702.330.010.01
Total Volume2,896.0481112,1381,0862,050
Total OI71,202.33361,65392,46067,64077,971

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$104.33$104.007.0%2.0%10.3%26.8%6.7%0.5%0.7%15.4M-72.8M-830.1K0.0115.681,0721433,74633,894
2025-05-02$104.22$104.006.7%1.9%10.1%25.0%8.6%0.5%0.9%19.1M-64.0M-810.4K513.2020.9652,56634,57433,800
2025-05-05$104.03$104.007.0%2.1%10.1%27.1%8.4%3.4%0.5%15.9M-60.5M-801.4K40.0033.4814034,57332,652
2025-05-06$104.41$104.006.7%2.0%7.8%24.9%7.0%0.4%0.7%25.7M-76.9M-752.7K2.2634.358018134,57432,674
2025-05-07$104.53$104.006.5%2.0%6.6%23.8%6.6%0.6%0.5%28.3M-89.2M-746.9K0.1338.71881134,63632,702
2025-05-08$104.25$104.005.2%2.0%6.5%15.1%7.0%0.3%0.4%29.7M-73.9M-734.4K0.0026.206,9861034,64832,712
2025-05-09$104.28$104.005.3%2.0%6.5%15.9%0.0%0.2%-2.9%27.2M-65.8M-657.0K702.3326.21128,42828,94732,706
2025-05-12$104.17$104.006.2%1.9%5.4%22.0%7.1%-0.2%0.8%8.1M-48.3M-638.0K66.4825.20211,39628,94940,207
2025-05-13$104.38$104.005.7%1.8%4.2%18.4%6.5%-0.2%0.6%22.6M-65.2M-601.4K1.3919.705,0377,02628,95439,766
2025-05-14$104.00$104.006.4%1.8%4.4%23.3%7.1%-0.7%0.9%15.4M-32.3M-796.4K0.2023.5710,1232,01533,96946,295
2025-05-15$104.38$104.005.8%1.7%4.5%19.3%6.6%-0.6%1.2%29.4M-82.4M-966.4K0.4026.551947844,08448,216
2025-05-16$104.50$104.005.7%1.6%4.5%18.5%5.9%-0.5%1.3%21.5M-84.5M-959.7K0.0120.65114144,17748,283
2025-05-19$104.42$104.005.6%1.6%3.8%17.5%5.6%-0.1%1.7%16.3M-60.6M-904.0K0.3320.70672236,43528,668
2025-05-20$104.19$104.006.1%1.7%3.9%21.0%6.5%-0.1%0.9%13.8M-44.8M-936.3K0.7119.72956736,48528,683
2025-05-21$103.70$104.006.2%1.8%4.1%21.8%6.2%0.3%0.9%9.6M-17.8M-921.0K2.1015.191,0162,13236,57528,650
2025-05-22$103.77$104.006.2%1.8%3.9%21.8%5.8%0.2%0.6%8.8M-20.7M-951.2K7.0020.9964237,58830,596
2025-05-23$103.77$104.005.9%1.7%3.9%19.5%5.9%-1.1%1.0%8.2M-16.4M-913.8K0.0931.575905137,58830,638
2025-05-27$104.06$104.006.0%1.7%3.9%20.2%6.1%-0.0%0.7%12.9M-40.3M-876.9K0.3818.968338,17830,676
2025-05-28$103.94$104.005.7%1.6%3.9%18.6%5.8%0.0%0.6%14.8M-37.8M-890.5K0.0022.769,1021038,18230,677
2025-05-29$104.00$104.005.2%1.5%3.7%15.4%5.8%0.2%1.1%32.9M-73.9M-984.5K0.2415.38461147,24430,677
2025-05-30$103.94$104.005.5%1.6%3.6%17.1%5.6%-0.1%0.7%32.3M-67.9M-990.6K0.0115.452,0321847,28930,682