M Options History — April 2009

In April 2009, M traded between $9.03 and $13.68. ATM implied volatility averaged 100.6%, placing in the 35.7% IV rank vs the trailing year. The 30-day expected move averaged 28.9%. IV traded below realized volatility by 4.0% (HV 20d: 104.6%). Max pain ranged from $9.00 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 1.30.

Notable Days

  • 2009-04-15: Highest Volume — 28,862 contracts
  • 2009-04-20: Largest IV spike — 9.7% change
  • 2009-04-27: Highest IV Rank — 40.9%
  • 2009-04-27: Largest Expected Move — 31.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.84$9.03$13.68$9.03$13.68
Max Pain$9.95$9.00$10.00$10.00$10.00
ATM IV100.6%88.3%109.6%103.2%99.1%
Expected Move28.9%25.3%31.4%29.6%28.4%
HV 20d104.6%97.7%112.5%102.2%99.4%
HV 60d94.2%86.4%97.4%86.4%95.9%
IV Rank35.7%28.7%40.9%37.3%34.9%
IV Percentile69.5%53.6%76.6%73.0%65.5%
Term Structure-12.1%-20.1%4.8%4.8%-14.4%
VWIV101.9%90.8%109.9%102.3%102.8%
Skew 25d17.2%6.2%22.1%6.2%13.2%
Skew 10d35.8%21.0%52.6%21.0%32.4%
Call IV 25d91.6%81.5%99.3%99.3%93.2%
Put IV 25d108.8%97.8%117.9%105.5%106.4%
Bid-Ask Spread %10.747.0115.1310.6210.75
Gamma HHI0.220.150.270.240.16
Net GEX622.9K298.5K839.5K298.5K602.7K
Net DEX-59.3M-97.5M-10.4M-10.4M-82.7M
Net VEX-365.2K-455.4K-232.2K-232.2K-455.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.300.132.950.441.57
Total Volume12,821.7143,54028,8628,71313,023
Total OI206,435.857159,908243,172159,908243,172

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-04-01$9.03$10.00103.2%29.6%102.2%37.3%102.3%6.2%4.8%298.5K-10.4M-232.2K0.4410.62N/AN/A6,0552,65889,33070,578
2009-04-02$10.18$9.00103.7%29.7%98.7%37.5%103.0%15.4%-1.4%477.9K-26.9M-262.0K0.2215.05N/AN/A22,2774,84893,07071,933
2009-04-03$10.36$10.00100.1%29.3%98.0%35.5%100.9%19.9%-14.2%619.5K-37.6M-309.6K0.138.63N/AN/A11,9081,506110,50274,631
2009-04-06$9.95$10.00102.2%29.5%99.3%36.7%104.8%18.6%-14.2%681.4K-34.4M-309.2K1.509.69N/AN/A1,4182,122120,05075,576
2009-04-07$9.70$10.0099.1%28.2%97.8%34.9%99.5%17.8%-10.0%614.9K-26.7M-295.5K1.4911.77N/AN/A3,1244,664116,32276,196
2009-04-08$10.32$10.0092.9%27.9%97.7%31.3%93.7%17.9%-11.4%734.0K-39.2M-314.5K0.699.04N/AN/A3,4342,380118,24577,182
2009-04-09$11.88$10.0088.3%25.3%106.7%28.7%90.8%16.3%-6.6%839.5K-68.5M-342.3K0.5510.28N/AN/A9,6335,262118,21078,213
2009-04-13$12.93$10.0094.7%27.2%109.0%32.4%93.6%14.9%-12.4%815.7K-90.2M-353.9K1.1112.16N/AN/A4,3574,847121,09881,108
2009-04-14$11.99$10.0096.0%27.5%111.5%33.1%102.4%15.3%-12.3%668.0K-71.6M-346.2K0.767.01N/AN/A8,7216,631122,36684,588
2009-04-15$11.56$10.00101.7%29.2%112.5%36.4%99.7%17.6%-12.8%673.9K-69.3M-359.0K0.178.13N/AN/A24,7244,138130,07987,277
2009-04-16$12.52$10.0094.7%27.1%112.1%32.3%101.9%17.8%-12.0%743.2K-84.3M-361.5K1.2912.06N/AN/A7,90210,209125,03486,365
2009-04-17$13.10$10.0092.7%26.6%110.7%31.2%91.3%16.1%-10.6%744.1K-97.5M-385.5K1.809.34N/AN/A3,3255,970130,39292,658
2009-04-20$11.87$10.00101.6%29.1%111.8%36.3%104.5%15.7%-6.8%638.0K-53.2M-377.3K2.6912.94N/AN/A2,1185,689114,08580,761
2009-04-21$12.50$10.00101.9%29.2%108.3%36.5%107.7%19.7%-11.5%659.7K-62.8M-393.0K2.3715.13N/AN/A2,6196,217115,35783,607
2009-04-22$12.69$10.00104.8%30.0%108.2%38.2%106.5%22.1%-16.7%614.6K-65.7M-402.6K2.249.68N/AN/A4,84110,862116,61888,201
2009-04-23$12.62$10.00105.5%30.2%106.9%38.5%107.9%20.3%-17.8%559.0K-62.4M-415.5K1.4512.59N/AN/A4,0225,848118,14195,871
2009-04-24$13.23$10.00105.1%30.1%103.5%38.3%102.8%18.4%-14.9%603.8K-73.6M-429.0K2.958.58N/AN/A6,45919,051120,69199,225
2009-04-27$12.90$10.00109.6%31.4%104.5%40.9%108.6%20.0%-19.0%531.1K-65.6M-441.1K1.548.74N/AN/A3,4975,375122,699110,789
2009-04-28$12.58$10.00108.1%31.0%98.8%40.1%104.9%19.6%-20.1%458.4K-57.3M-440.9K0.689.85N/AN/A3,0242,046122,773114,103
2009-04-29$12.97$10.00107.3%30.8%98.7%39.6%109.9%18.7%-19.9%503.7K-64.7M-443.6K1.5913.45N/AN/A4,8077,645123,778114,279
2009-04-30$13.68$10.0099.1%28.4%99.4%34.9%102.8%13.2%-14.4%602.7K-82.7M-455.4K1.5710.75N/AN/A5,0677,956127,111116,061