M Options History — December 2009

In December 2009, M traded between $15.81 and $17.76. ATM implied volatility averaged 46.1%, placing in the 3.2% IV rank vs the trailing year. The 30-day expected move averaged 13.4%. IV traded above realized volatility by 3.6% (HV 20d: 42.4%). Max pain ranged from $15.00 to $18.00. Net GEX was positive for 8 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 0.68.

Notable Days

  • 2009-12-15: Highest Volume — 54,853 contracts
  • 2009-12-10: Largest IV spike — 11.0% change
  • 2009-12-28: Highest IV Rank — 6.0%
  • 2009-12-02: Largest Expected Move — 14.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$16.89$15.81$17.76$16.01$16.76
Max Pain$15.41$15.00$18.00$18.00$15.00
ATM IV46.1%42.6%49.7%49.3%45.4%
Expected Move13.4%12.6%14.3%14.1%13.0%
HV 20d42.4%34.9%51.5%50.1%37.2%
HV 60d46.5%44.8%47.7%47.4%45.0%
IV Rank3.2%0.0%6.0%3.5%3.3%
IV Percentile2.5%0.0%7.5%5.2%3.2%
Term Structure1.0%-1.2%2.4%1.4%-0.0%
VWIV47.1%44.8%49.6%49.6%45.3%
Skew 25d3.5%-3.3%6.1%2.8%-3.3%
Skew 10d6.5%-8.1%14.8%-1.3%-8.1%
Call IV 25d45.9%43.4%48.5%48.3%48.5%
Put IV 25d49.4%45.2%52.3%51.1%45.2%
Bid-Ask Spread %8.996.5811.2910.6610.41
Gamma HHI0.270.170.740.190.21
Net GEX279.1K-14.4M4.0M-448.1K2.1M
Net DEX-55.3M-127.1M11.0M11.0M-70.7M
Net VEX-577.8K-645.4K-534.2K-534.2K-574.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.221.490.310.91
Total Volume15,891.8643,26254,85316,4738,207
Total OI348,194.227310,796396,409312,806369,569

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-12-01$16.01$18.0049.3%14.1%50.1%3.5%49.6%2.8%1.4%-448.1K11.0M-534.2K0.3110.66N/AN/A12,6043,869164,559148,247
2009-12-02$16.30$18.0049.7%14.3%50.6%4.3%47.8%6.0%0.7%-420.3K-6.9M-570.9K0.8410.26N/AN/A22,46518,868170,544148,456
2009-12-03$15.81$18.0047.4%13.6%51.5%1.9%47.9%3.3%1.5%-256.2K8.2M-614.5K0.9110.21N/AN/A11,05710,103185,951155,145
2009-12-04$15.98$15.0044.3%13.8%50.7%0.0%48.3%5.3%1.3%-214.8K5.0M-587.0K0.9910.64N/AN/A5,2405,196183,168155,225
2009-12-07$16.38$15.0047.9%14.2%45.5%3.8%47.4%5.8%0.5%-337.7K-13.6M-587.7K0.338.14N/AN/A4,7951,579183,017157,133
2009-12-08$16.39$15.0044.7%14.0%44.8%0.4%47.6%5.7%1.5%-335.3K-16.9M-580.8K0.729.96N/AN/A2,8042,014183,380157,294
2009-12-09$16.27$15.0042.6%13.8%44.7%0.0%47.9%5.8%1.5%-474.3K-6.5M-567.1K0.5710.79N/AN/A3,6502,063184,114157,907
2009-12-10$16.07$15.0047.3%13.6%34.9%5.2%47.7%6.1%1.6%-381.7K4.0M-557.3K0.679.35N/AN/A3,2352,169185,826158,716
2009-12-11$17.02$15.0045.5%13.0%40.8%3.2%46.7%3.3%1.6%-365.9K-53.2M-575.2K0.346.83N/AN/A13,8584,694183,798158,577
2009-12-14$17.48$15.0045.9%13.2%40.6%3.7%47.0%5.9%1.0%-71.1K-79.0M-551.8K1.0711.29N/AN/A6,3696,835185,010158,831
2009-12-15$16.93$15.0047.4%13.6%41.8%5.4%49.0%4.8%0.6%-898.3K-46.0M-556.5K0.229.04N/AN/A44,8619,992186,375161,888
2009-12-16$17.20$15.0046.8%13.4%41.2%4.9%46.8%2.2%1.6%-8.9K-74.9M-587.8K0.2610.41N/AN/A10,6562,786222,174167,406
2009-12-17$17.00$15.0047.1%13.5%41.3%5.3%47.4%2.7%0.8%-1.3M-58.2M-579.2K0.548.71N/AN/A6,0793,305228,256168,153
2009-12-18$16.96$15.0045.8%13.1%40.9%3.8%46.2%5.4%1.2%-14.4M-47.5M-566.5K1.048.86N/AN/A7,0807,371226,526168,825
2009-12-21$17.58$15.0044.8%12.8%42.6%2.5%45.2%2.9%1.7%3.0M-105.1M-550.3K0.266.83N/AN/A8,5202,191186,049124,747
2009-12-22$17.44$15.0043.8%12.6%41.9%1.4%44.8%2.4%2.4%3.1M-101.8M-553.2K0.817.89N/AN/A2,6752,156193,936125,047
2009-12-23$17.73$15.0044.8%12.8%41.9%2.5%45.3%2.4%1.7%3.5M-114.3M-569.9K0.498.09N/AN/A34,02616,580194,688125,974
2009-12-24$17.57$15.0044.1%12.6%40.6%1.7%46.9%3.4%0.8%3.7M-113.9M-645.4K0.317.68N/AN/A2,484778217,546141,862
2009-12-28$17.76$15.0047.7%13.7%38.6%6.0%48.7%2.3%-1.2%4.0M-127.1M-605.9K1.096.95N/AN/A8,3289,064214,972142,010
2009-12-29$17.65$15.0046.4%13.3%35.5%4.5%47.5%1.8%-0.8%3.6M-115.9M-608.6K1.498.27N/AN/A3,5095,245215,941146,901
2009-12-30$17.22$15.0045.4%13.0%36.1%3.3%46.1%-0.6%0.7%2.9M-92.9M-586.0K0.716.58N/AN/A5,9984,263216,020150,510
2009-12-31$16.76$15.0045.4%13.0%37.2%3.3%45.3%-3.3%-0.0%2.1M-70.7M-574.9K0.9110.41N/AN/A4,2973,910217,651151,918