MUB Options History — July 2025

In July 2025, MUB traded between $103.22 and $104.34. ATM implied volatility averaged 5.6%, placing in the 17.8% IV rank vs the trailing year. The 30-day expected move averaged 1.6%. IV traded above realized volatility by 3.2% (HV 20d: 2.4%). Max pain ranged from $103.00 to $104.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 13.93.

Notable Days

  • 2025-07-21: Highest Volume — 20,122 contracts
  • 2025-07-09: Largest IV spike — 28.2% change
  • 2025-07-18: Highest IV Rank — 22.6%
  • 2025-07-18: Largest Expected Move — 1.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$103.80$103.22$104.34$104.28$103.88
Max Pain$103.09$103.00$104.00$104.00$103.00
ATM IV5.6%4.3%6.3%5.2%5.3%
Expected Move1.6%1.5%1.8%1.5%1.5%
HV 20d2.4%2.0%2.8%2.8%2.6%
HV 60d4.0%3.2%6.5%6.5%3.3%
IV Rank17.8%8.9%22.6%15.3%15.5%
IV Percentile57.5%21.0%78.2%45.6%40.9%
Term Structure0.4%-0.5%1.5%0.5%-0.1%
VWIV5.3%3.2%6.0%5.2%5.6%
Skew 25d0.8%-1.1%3.2%-0.0%2.1%
Skew 10d1.8%-1.9%7.7%-0.2%0.9%
Call IV 25d4.9%2.9%5.7%5.3%4.0%
Put IV 25d5.7%4.2%6.4%5.3%6.1%
Bid-Ask Spread %21.0312.3245.1612.7518.11
Gamma HHI0.310.210.430.250.43
Net GEX30.9M-7.1M63.1M63.1M33.7M
Net DEX-61.1M-154.8M24.8M-154.8M-55.1M
Net VEX-518.9K-767.3K-263.1K-687.8K-456.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio13.930.00192.8117.79192.81
Total Volume4,610.727820,1222,1235,039
Total OI80,323.90942,762101,77597,03162,695

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-07-01$104.28$104.005.2%1.5%2.8%15.3%5.2%-0.0%0.5%63.1M-154.8M-687.8K17.7912.751132,01061,01436,017
2025-07-02$104.34$104.005.5%1.6%2.8%17.3%0.0%-1.0%0.2%58.7M-149.9M-698.5K0.0012.328061,10038,002
2025-07-03$104.25$103.005.8%1.7%2.8%19.3%3.8%3.2%1.1%56.4M-147.0M-767.3K0.0129.5813,01813261,09337,957
2025-07-07$104.25$103.005.5%1.6%2.8%17.5%6.0%0.4%1.0%50.9M-135.4M-755.4K0.0017.489,0281063,70638,069
2025-07-08$104.13$103.004.3%1.6%2.6%8.9%0.0%0.2%1.1%35.9M-92.0M-664.5K4.4522.062,0018,89558,90538,068
2025-07-09$104.25$103.005.5%1.6%2.5%16.9%5.3%1.4%1.2%50.3M-114.6M-648.1K0.3020.7210360,70635,068
2025-07-10$104.23$103.005.3%1.5%2.5%15.6%6.0%1.8%1.5%46.3M-115.5M-597.5K1.3322.03152060,71235,069
2025-07-11$103.91$103.005.1%1.5%2.6%14.8%5.3%0.9%0.7%19.3M-46.4M-504.4K1.0919.926,5777,13760,62635,079
2025-07-14$103.82$103.005.8%1.7%2.1%19.0%5.9%0.7%0.1%22.1M-45.4M-329.7K69.5817.37362,50555,12129,660
2025-07-15$103.66$103.005.4%1.6%2.0%16.7%5.6%0.8%0.2%27.2M-30.4M-272.9K0.9717.325,1425,01355,12527,608
2025-07-16$103.45$103.006.0%1.7%2.1%20.1%5.7%0.8%-0.1%17.4M-5.1M-351.0K0.1925.1132660,04931,058
2025-07-17$103.25$103.006.2%1.8%2.1%21.8%5.8%0.6%0.4%3.9M23.3M-332.3K0.5427.2313760,04931,054
2025-07-18$103.22$103.006.3%1.8%2.1%22.6%5.7%-1.1%-0.0%-7.1M24.8M-317.4K1.0020.295,0075,00259,95431,055
2025-07-21$103.53$103.005.5%1.6%2.4%17.4%5.4%0.7%0.6%21.8M-31.9M-263.1K0.9921.6810,12010,00229,30413,458
2025-07-22$103.60$103.005.5%1.6%2.4%17.3%5.6%0.8%0.4%25.2M-43.1M-591.2K0.0013.74129039,37123,417
2025-07-23$103.47$103.006.3%1.8%2.3%22.2%0.0%2.1%-0.1%21.6M-31.6M-555.0K8.5021.0521739,39423,417
2025-07-24$103.50$103.006.1%1.8%2.3%21.2%3.2%2.0%-0.5%21.9M-31.6M-572.8K0.0817.83109939,41623,434
2025-07-25$103.56$103.005.1%1.5%2.3%14.3%5.4%0.8%0.7%24.5M-31.4M-510.5K5.6723.8431739,42123,443
2025-07-28$103.57$103.005.4%1.6%2.3%16.6%5.2%0.7%0.3%25.8M-34.6M-505.1K0.1318.6170939,42423,452
2025-07-29$103.84$103.005.7%1.6%2.4%18.3%5.6%-0.2%-0.2%30.9M-55.9M-494.9K0.9518.392,1252,02839,43423,461
2025-07-30$103.62$103.006.3%1.8%2.4%22.3%5.1%0.4%0.7%29.8M-41.4M-539.2K0.0645.1616139,43823,223
2025-07-31$103.88$103.005.3%1.5%2.6%15.5%5.6%2.1%-0.1%33.7M-55.1M-456.6K192.8118.11265,01339,47223,223