M Options History — February 2009

In February 2009, M traded between $7.40 and $9.70. ATM implied volatility averaged 99.6%, placing in the 35.2% IV rank vs the trailing year. The 30-day expected move averaged 29.3%. IV traded above realized volatility by 19.3% (HV 20d: 80.4%). Max pain ranged from $7.50 to $10.00. Net GEX was positive for 15 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 2.11.

Notable Days

  • 2009-02-02: Highest Volume — 80,060 contracts
  • 2009-02-06: Largest IV drop — 27.2% change
  • 2009-02-02: Highest IV Rank — 50.6%
  • 2009-02-02: Largest Expected Move — 36.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.38$7.40$9.70$8.59$7.87
Max Pain$9.47$7.50$10.00$10.00$7.50
ATM IV99.6%78.4%126.5%126.5%87.8%
Expected Move29.3%25.2%36.3%36.3%25.2%
HV 20d80.4%69.5%87.9%72.9%83.5%
HV 60d103.2%91.9%109.5%109.5%91.9%
IV Rank35.2%23.0%50.6%50.6%28.4%
IV Percentile72.6%62.7%84.5%84.5%63.1%
Term Structure-4.4%-13.6%2.5%-13.6%2.5%
VWIV100.3%85.7%119.6%118.4%87.4%
Skew 25d21.1%-9.0%38.2%32.3%-9.0%
Skew 10d55.0%-18.7%95.1%52.8%-18.7%
Call IV 25d90.8%82.4%106.0%97.4%87.2%
Put IV 25d111.9%78.2%129.6%129.6%78.2%
Bid-Ask Spread %9.865.0517.176.279.77
Gamma HHI0.290.220.550.220.22
Net GEX65.0K-591.9K290.2K191.3K111.1K
Net DEX-2.7M-16.1M6.7M-3.3M1.2M
Net VEX-203.5K-249.6K-168.4K-208.7K-181.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.110.118.731.600.11
Total Volume13,859.0531,29380,06080,0604,807
Total OI191,719.158135,100225,367180,318159,923

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-02-02$8.59$10.00126.5%36.3%72.9%50.6%118.4%32.3%-13.6%191.3K-3.3M-208.7K1.606.27N/AN/A30,80049,26095,26685,052
2009-02-03$8.83$10.0094.5%27.1%69.5%32.2%108.5%38.2%1.3%165.1K-6.9M-249.6K1.505.05N/AN/A4,9647,464109,328104,870
2009-02-04$8.32$10.00112.9%32.4%71.0%42.8%107.9%27.6%-3.8%92.3K-611.7K-234.9K0.756.13N/AN/A4,1983,129118,470106,897
2009-02-05$8.75$10.00107.7%30.9%74.6%39.8%103.8%19.4%-0.5%105.5K-3.8M-224.9K3.865.62N/AN/A1,8877,27799,561102,630
2009-02-06$9.70$10.0078.4%25.9%84.6%23.0%92.0%23.3%-1.6%279.4K-16.1M-242.7K0.4710.96N/AN/A4,8692,28097,958103,882
2009-02-09$9.46$10.0081.6%25.7%82.6%24.8%93.6%22.4%-1.2%290.2K-13.0M-234.8K0.2010.77N/AN/A9,7461,926100,066104,501
2009-02-10$8.78$10.0080.4%26.2%85.6%24.2%105.4%23.7%-3.1%148.0K-4.2M-220.9K3.0812.10N/AN/A317976102,050104,516
2009-02-11$8.50$10.0088.6%30.4%85.8%28.9%93.1%24.2%-7.1%-27.3K-1.3M-201.1K1.9811.04N/AN/A7,19514,212101,085103,319
2009-02-12$8.71$10.00105.4%30.2%84.3%38.5%94.7%21.4%-5.1%83.1K-4.4M-206.7K3.1417.17N/AN/A1,9696,179102,636102,241
2009-02-13$8.63$10.00104.1%29.9%83.5%37.8%96.8%21.8%-6.5%108.6K-4.1M-205.3K1.399.30N/AN/A640889102,88398,409
2009-02-17$8.08$10.00109.3%31.3%86.1%40.7%102.8%23.9%-7.4%-120.9K970.4K-182.9K2.379.91N/AN/A2,5646,085102,73998,199
2009-02-18$7.89$10.00109.7%31.5%77.5%41.0%103.6%25.3%-5.9%158.7K-936.7K-174.3K8.737.89N/AN/A5514,812103,35398,038
2009-02-19$7.66$10.00109.7%31.5%74.1%41.0%104.0%19.9%-10.0%-591.9K6.7M-171.6K1.0010.44N/AN/A2,9983,006103,452101,865
2009-02-20$7.86$10.00113.9%32.7%74.7%43.4%107.7%16.6%-12.7%-393.8K1.4M-177.4K1.6314.24N/AN/A6,38210,420105,002101,658
2009-02-23$7.40$10.00107.3%30.8%75.5%39.6%119.6%12.4%-5.6%114.9K1.7M-168.4K6.3010.66N/AN/A4,54928,66976,23058,870
2009-02-24$8.29$7.5095.3%27.3%87.7%32.7%91.9%20.1%-2.0%197.7K-2.4M-193.8K1.419.75N/AN/A4,1945,90479,11778,319
2009-02-25$8.10$7.5091.4%26.2%87.9%30.5%85.7%21.0%-1.9%157.0K-1.5M-191.7K0.2310.83N/AN/A10,2642,32480,41480,381
2009-02-26$7.84$7.5088.4%25.4%85.6%28.8%89.2%16.3%0.9%166.6K-1.3M-196.4K0.389.36N/AN/A4,0571,55988,40881,076
2009-02-27$7.87$7.5087.8%25.2%83.5%28.4%87.4%-9.0%2.5%111.1K1.2M-181.1K0.119.77N/AN/A4,31749078,49381,430