M Options History — June 2008 In June 2008, M traded between $19.40 and $23.33. ATM implied volatility averaged 47.0%, placing in the 46.5% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded below realized volatility by 0.2% (HV 20d: 47.1%). Max pain ranged from $20.00 to $25.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 1.44.
Notable Days 2008-06-24 : Highest Volume — 14,913 contracts2008-06-09 : Largest IV spike — 11.5% change2008-06-18 : Highest IV Rank — 55.1%2008-06-30 : Largest Expected Move — 15.1%Monthly Statistics Metric Avg Min Max Open Close Price $21.31 $19.40 $23.33 $22.82 $19.42 Max Pain $22.38 $20.00 $25.00 $25.00 $20.00 ATM IV 47.0% 40.5% 52.8% 44.5% 52.8% Expected Move 13.6% 12.0% 15.1% 12.8% 15.1% HV 20d 47.1% 41.3% 51.7% 44.0% 49.2% HV 60d 49.5% 45.1% 52.5% 51.6% 45.3% IV Rank 46.5% 37.9% 55.1% 44.6% 51.3% IV Percentile 35.9% 11.9% 59.1% 25.4% 59.1% Term Structure 4.7% 1.8% 8.0% 1.8% 4.7% VWIV 48.2% 40.6% 59.1% 44.4% 59.1% Skew 25d 5.5% -0.7% 9.1% 4.7% 8.5% Skew 10d 13.7% -2.6% 21.2% 9.5% 19.0% Call IV 25d 45.9% 39.8% 52.2% 44.0% 52.2% Put IV 25d 51.4% 42.9% 60.7% 48.7% 60.7% Bid-Ask Spread % 10.74 7.67 13.31 9.23 10.38 Gamma HHI 0.24 0.17 0.37 0.22 0.32 Net GEX 540.1K 101.8K 966.7K 748.1K 815.1K Net DEX -11.9M -36.2M 7.7M -30.0M -17.6K Net VEX -355.0K -410.7K -250.3K -410.7K -338.2K Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 1.44 0.15 5.13 1.00 1.16 Total Volume 4,314.143 1,176 14,913 1,724 3,814 Total OI 133,968.143 100,166 141,275 131,388 141,275
Daily Data (21 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 Wall Put Wall Call Vol Put Vol Call OI Put OI 2008-06-02 $22.82 $25.00 44.5% 12.8% 44.0% 44.6% 44.4% 4.7% 1.8% 748.1K -30.0M -410.7K 1.00 9.23 N/A N/A 860 864 86,453 44,935 2008-06-03 $22.86 $25.00 43.8% 12.6% 41.5% 43.3% 45.0% 3.2% 1.9% 750.4K -29.7M -399.3K 5.13 13.02 N/A N/A 479 2,457 86,674 45,346 2008-06-04 $22.44 $25.00 42.3% 12.1% 41.3% 40.9% 42.5% -0.7% 2.8% 564.8K -21.1M -399.1K 4.78 12.04 N/A N/A 698 3,338 86,848 46,823 2008-06-05 $23.33 $22.50 42.0% 12.0% 43.5% 40.3% 40.6% 4.5% 2.7% 756.3K -36.2M -407.1K 0.29 10.01 N/A N/A 2,190 632 87,130 48,681 2008-06-06 $22.25 $22.50 40.5% 13.2% 44.9% 37.9% 44.0% 6.0% 4.5% 453.4K -18.9M -397.1K 1.15 10.34 N/A N/A 2,151 2,477 87,644 48,974 2008-06-09 $21.56 $22.50 45.2% 13.5% 45.2% 45.6% 46.8% 7.1% 4.3% 231.2K -5.8M -371.9K 0.55 9.86 N/A N/A 3,150 1,739 86,490 49,422 2008-06-10 $21.95 $22.50 44.4% 13.4% 43.9% 44.3% 45.8% 6.3% 4.6% 350.3K -13.2M -380.1K 1.76 10.38 N/A N/A 2,315 4,083 87,754 50,006 2008-06-11 $20.86 $22.50 49.3% 14.9% 46.8% 52.4% 50.3% 6.3% 4.3% 101.8K 4.0M -360.5K 0.31 9.06 N/A N/A 1,175 362 87,918 50,958 2008-06-12 $21.31 $22.50 47.0% 13.5% 45.3% 48.6% 50.7% 9.1% 5.6% 188.5K -5.8M -364.4K 2.57 12.44 N/A N/A 911 2,342 87,088 49,193 2008-06-13 $22.16 $22.50 46.8% 13.4% 47.6% 48.3% 49.0% 4.7% 4.1% 440.5K -20.0M -377.2K 0.38 11.73 N/A N/A 1,661 634 87,677 49,737 2008-06-16 $22.35 $22.50 47.3% 13.6% 47.9% 49.2% 46.9% 7.4% 5.5% 515.4K -31.5M -250.3K 0.76 11.77 N/A N/A 670 506 62,330 37,836 2008-06-17 $22.05 $22.50 47.1% 13.5% 47.9% 48.8% 46.8% 5.0% 4.7% 436.3K -19.9M -366.2K 2.75 11.48 N/A N/A 1,263 3,479 88,127 49,945 2008-06-18 $21.02 $22.50 50.9% 14.6% 50.1% 55.1% 50.2% 7.2% 5.2% 364.4K -3.2M -341.7K 1.21 13.31 N/A N/A 2,258 2,738 88,666 52,149 2008-06-19 $21.70 $22.50 45.8% 13.1% 48.3% 46.6% 46.1% 7.2% 6.1% 339.5K -12.1M -346.3K 1.14 11.53 N/A N/A 756 862 88,214 52,423 2008-06-20 $20.91 $22.50 50.1% 14.4% 49.7% 53.9% 47.7% 3.7% 4.9% 504.2K -3.2M -335.2K 0.29 10.99 N/A N/A 7,397 2,156 88,550 52,063 2008-06-23 $20.13 $22.50 48.9% 14.0% 50.2% 44.5% 49.0% 2.8% 6.3% 653.0K -1.7M -311.0K 2.32 7.67 N/A N/A 840 1,949 80,705 40,551 2008-06-24 $19.40 $22.50 49.2% 14.1% 50.7% 45.0% 49.3% 4.4% 6.3% 496.6K 7.7M -293.3K 0.15 10.09 N/A N/A 12,914 1,999 81,137 42,090 2008-06-25 $20.02 $20.00 49.4% 14.2% 51.7% 45.5% 55.1% 7.2% 5.0% 966.7K -8.4M -335.3K 0.67 10.17 N/A N/A 4,114 2,756 91,806 42,673 2008-06-26 $19.48 $20.00 51.0% 14.6% 50.0% 48.5% 50.1% 5.0% 4.5% 838.0K -821.2K -336.7K 0.78 8.90 N/A N/A 2,026 1,590 93,709 44,811 2008-06-27 $19.53 $20.00 48.0% 13.8% 50.2% 42.8% 52.8% 6.9% 8.0% 827.7K -461.3K -333.2K 1.05 11.10 N/A N/A 970 1,022 93,709 44,811 2008-06-30 $19.42 $20.00 52.8% 15.1% 49.2% 51.3% 59.1% 8.5% 4.7% 815.1K -17.6K -338.2K 1.16 10.38 N/A N/A 1,765 2,049 95,225 46,050
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