M Options History — June 2009

In June 2009, M traded between $10.63 and $13.87. ATM implied volatility averaged 67.0%, placing in the 13.0% IV rank vs the trailing year. The 30-day expected move averaged 19.1%. IV traded below realized volatility by 10.6% (HV 20d: 77.6%). Max pain ranged from $11.00 to $13.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 1.11.

Notable Days

  • 2009-06-01: Highest Volume — 22,062 contracts
  • 2009-06-25: Largest IV drop — 8.6% change
  • 2009-06-03: Highest IV Rank — 19.0%
  • 2009-06-03: Largest Expected Move — 21.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.11$10.63$13.87$13.44$11.76
Max Pain$12.09$11.00$13.00$12.00$11.00
ATM IV67.0%53.8%73.3%72.5%53.8%
Expected Move19.1%15.4%21.0%20.8%15.4%
HV 20d77.6%58.8%87.8%87.8%58.8%
HV 60d88.2%81.3%92.8%92.8%81.3%
IV Rank13.0%1.4%19.0%18.6%1.4%
IV Percentile21.1%5.2%29.0%28.6%5.2%
Term Structure3.4%-4.9%9.9%-4.9%9.4%
VWIV66.9%53.7%73.7%71.1%53.7%
Skew 25d7.5%3.1%10.5%8.4%5.1%
Skew 10d18.7%-3.9%32.9%29.2%21.8%
Call IV 25d62.9%52.1%67.6%67.3%52.1%
Put IV 25d70.5%57.2%77.2%75.6%57.2%
Bid-Ask Spread %13.429.4018.3413.4311.45
Gamma HHI0.170.140.200.200.16
Net GEX465.7K109.2K935.4K735.1K397.7K
Net DEX-23.2M-65.8M11.8M-54.1M-15.0M
Net VEX-464.9K-537.1K-419.0K-513.2K-428.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.110.116.060.371.66
Total Volume5,974.2731,53122,06222,0621,531
Total OI251,120.091239,427269,047239,763244,523

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-06-01$13.44$12.0072.5%20.8%87.8%18.6%71.1%8.4%-4.9%735.1K-54.1M-513.2K0.3713.43N/AN/A16,0745,988126,851112,912
2009-06-02$13.87$12.0068.6%19.7%82.3%16.3%70.7%8.3%0.1%935.4K-65.8M-537.1K1.3515.19N/AN/A2,4053,251132,610114,600
2009-06-03$13.32$12.0073.3%21.0%83.4%19.0%73.7%10.5%-0.9%809.1K-51.7M-518.7K1.8711.02N/AN/A2,8985,409131,707115,909
2009-06-04$12.88$12.0070.2%20.1%81.4%17.3%73.3%8.6%-1.2%650.6K-40.0M-509.5K1.869.89N/AN/A3,6556,791132,305118,715
2009-06-05$12.81$13.0068.8%19.9%77.7%16.5%67.9%9.0%2.9%605.0K-39.5M-509.0K0.1112.67N/AN/A5,486606134,908121,839
2009-06-08$12.77$13.0071.4%19.8%77.7%17.9%69.7%8.9%2.3%662.1K-38.4M-490.4K0.5010.98N/AN/A2,5261,269132,795119,072
2009-06-09$12.82$13.0069.1%19.2%77.6%14.7%67.3%8.9%4.5%720.9K-41.0M-489.2K1.3012.94N/AN/A8731,132134,560119,390
2009-06-10$12.63$13.0066.5%18.9%77.1%13.1%67.0%6.9%3.4%660.3K-36.3M-478.7K0.8114.49N/AN/A5,8194,713134,696120,016
2009-06-11$12.00$13.0067.4%19.3%75.1%13.0%64.7%6.5%1.4%439.7K-18.1M-466.8K1.6517.46N/AN/A1,3462,222134,361123,341
2009-06-12$12.53$13.0064.7%18.5%76.1%11.3%66.0%7.5%4.1%626.3K-31.7M-481.0K0.3316.13N/AN/A2,449810133,417122,841
2009-06-15$11.92$13.0068.0%19.5%78.6%13.3%70.4%6.7%1.6%384.4K-16.4M-451.2K0.4116.35N/AN/A1,700702133,959123,175
2009-06-16$11.25$13.0070.1%20.1%77.3%14.6%66.8%8.9%2.1%224.7K-1.4M-425.6K1.1018.34N/AN/A6,9667,640135,472123,024
2009-06-17$11.23$13.0071.3%20.4%77.0%15.3%71.2%9.0%1.6%218.1K-1.0M-453.7K1.3714.15N/AN/A2,2093,030140,636128,411
2009-06-18$10.63$13.0071.0%20.4%78.2%15.1%71.7%9.4%2.3%109.2K11.8M-419.0K0.2810.56N/AN/A5,9261,635139,749127,978
2009-06-19$11.39$11.0067.5%19.4%80.6%13.1%67.7%7.4%5.5%302.8K-7.1M-445.0K6.0611.86N/AN/A8535,165141,720126,191
2009-06-22$11.37$11.0069.2%19.8%80.5%12.9%67.2%3.1%5.5%217.1K-6.1M-439.0K0.7511.31N/AN/A2,2501,684120,238119,611
2009-06-23$10.89$11.0068.8%19.7%79.1%12.7%69.0%4.2%5.8%148.6K1.6M-421.6K0.499.40N/AN/A1,547751121,510119,403
2009-06-24$11.39$11.0066.3%19.0%80.5%11.1%65.4%5.7%5.8%268.7K-9.2M-434.9K0.5414.55N/AN/A1,481795122,006117,421
2009-06-25$11.83$11.0060.5%17.4%80.6%7.6%61.1%8.5%6.3%364.0K-17.1M-447.0K0.2917.18N/AN/A1,892547122,661117,744
2009-06-26$11.67$11.0056.9%16.3%79.2%5.4%58.1%7.1%9.9%345.7K-14.0M-436.3K0.5612.07N/AN/A1,047587123,314117,475
2009-06-29$11.94$11.0057.3%16.4%60.4%5.6%58.3%7.4%6.9%420.3K-19.1M-432.8K0.7513.85N/AN/A3,2952,479123,720117,856
2009-06-30$11.76$11.0053.8%15.4%58.8%1.4%53.7%5.1%9.4%397.7K-15.0M-428.3K1.6611.45N/AN/A575956125,423119,100