M Options History — August 2010

In August 2010, M traded between $18.84 and $21.05. ATM implied volatility averaged 45.0%, placing in the 40.1% IV rank vs the trailing year. The 30-day expected move averaged 12.7%. IV traded below realized volatility by 1.3% (HV 20d: 46.3%). Max pain ranged from $18.00 to $21.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 1.61.

Notable Days

  • 2010-08-12: Highest Volume — 27,815 contracts
  • 2010-08-11: Largest IV drop — 17.5% change
  • 2010-08-10: Highest IV Rank — 49.3%
  • 2010-08-04: Largest Expected Move — 14.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.88$18.84$21.05$19.46$19.41
Max Pain$19.64$18.00$21.00$20.00$20.00
ATM IV45.0%39.5%51.3%47.0%46.1%
Expected Move12.7%11.3%14.3%13.5%13.2%
HV 20d46.3%38.8%53.8%50.5%38.8%
HV 60d47.1%44.4%51.4%51.2%44.4%
IV Rank40.1%29.2%49.3%39.9%46.2%
IV Percentile41.8%22.6%71.4%49.6%52.4%
Term Structure0.9%-5.4%3.9%-3.5%2.2%
VWIV44.3%39.9%49.5%45.8%44.6%
Skew 25d6.0%4.7%6.6%5.4%5.8%
Skew 10d11.9%7.8%13.8%10.1%13.0%
Call IV 25d42.0%38.3%47.4%44.0%43.0%
Put IV 25d48.0%44.0%52.7%49.4%48.7%
Bid-Ask Spread %4.483.585.554.754.39
Gamma HHI0.190.090.740.100.14
Net GEX1.2M-27.5K7.8M-27.5K514.9K
Net DEX-20.2M-73.2M14.2M3.2M-8.4M
Net VEX-520.9K-586.7K-449.4K-464.5K-560.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.610.147.970.682.74
Total Volume9,485.3643,72427,8155,32212,838
Total OI203,852.682169,109252,833191,783180,670

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-08-02$19.46$20.0047.0%13.5%50.5%39.9%45.8%5.4%-3.5%-27.5K3.2M-464.5K0.684.75N/AN/A3,1772,14597,11494,669
2010-08-03$18.84$20.0048.3%13.8%51.1%42.7%48.2%4.8%-4.4%61.7K14.2M-449.4K0.424.07N/AN/A4,1931,74799,04594,063
2010-08-04$19.44$19.0050.0%14.3%51.4%46.3%48.6%4.7%-5.4%313.0K-2.0M-468.7K0.603.95N/AN/A3,0601,845102,24694,728
2010-08-05$19.78$20.0048.7%14.0%50.8%43.7%49.5%5.4%-4.7%378.8K-10.2M-483.9K0.374.58N/AN/A8,3313,092103,31495,442
2010-08-06$19.44$18.0048.2%12.8%51.3%42.5%45.3%6.3%0.2%681.4K-4.9M-473.4K1.084.86N/AN/A1,9892,143108,83196,809
2010-08-09$19.76$18.0048.0%12.4%50.0%42.1%43.7%6.5%0.4%796.9K-12.9M-475.0K0.214.41N/AN/A5,1681,081109,17397,420
2010-08-10$19.38$18.0051.3%13.0%50.0%49.3%45.4%6.3%-0.0%693.0K-2.3M-459.2K0.675.55N/AN/A6,6064,397109,60797,631
2010-08-11$20.52$18.0042.4%12.3%53.5%30.1%43.7%5.9%1.7%972.4K-37.2M-480.5K1.384.04N/AN/A8,15911,254110,95797,704
2010-08-12$20.25$18.0044.2%12.7%53.8%41.4%44.7%6.2%1.8%1.1M-27.5M-485.6K0.144.07N/AN/A24,3643,451114,301101,531
2010-08-13$20.13$18.0043.5%12.5%47.5%39.4%43.4%6.2%2.6%1.9M-39.5M-553.8K2.425.08N/AN/A1,9814,787134,192100,315
2010-08-16$20.14$20.0044.5%12.7%47.3%42.0%44.5%6.6%2.1%2.0M-36.0M-548.5K1.344.20N/AN/A2,6703,572134,414102,715
2010-08-17$20.51$20.0041.9%12.0%44.8%35.3%43.4%5.9%3.0%2.2M-50.2M-542.1K0.914.49N/AN/A3,7493,398133,600104,246
2010-08-18$21.05$20.0044.2%12.7%44.8%41.2%44.3%6.6%2.5%1.7M-73.2M-543.3K3.633.81N/AN/A3,82213,866133,728103,274
2010-08-19$20.72$21.0043.4%12.4%41.7%39.2%44.4%6.3%2.6%1.7M-50.5M-580.1K0.583.58N/AN/A8,6615,019134,195113,753
2010-08-20$20.97$21.0042.0%12.0%41.8%35.5%42.4%5.9%3.7%7.8M-57.1M-586.7K0.724.06N/AN/A5,3563,849137,638115,195
2010-08-23$20.20$21.0042.8%12.3%42.1%37.7%41.8%6.4%2.4%385.2K-17.9M-568.8K1.445.41N/AN/A1,5272,19789,31380,172
2010-08-24$19.59$21.0043.3%12.4%42.4%38.9%43.3%6.4%1.7%327.8K-3.5M-546.2K2.504.90N/AN/A1,3933,47989,41680,830
2010-08-25$19.79$21.0042.8%12.3%41.2%37.7%42.0%5.8%2.5%388.3K-9.7M-549.5K3.064.51N/AN/A1,1853,62789,60880,095
2010-08-26$19.21$20.0044.0%12.6%41.9%40.7%41.9%6.2%2.7%433.5K790.0K-524.9K0.464.74N/AN/A9,1254,18790,19678,913
2010-08-27$19.60$20.0039.5%11.3%42.4%29.2%39.9%5.7%3.9%793.9K-13.9M-564.5K2.234.66N/AN/A1,2922,87898,43177,879
2010-08-30$19.19$20.0044.0%12.6%40.4%40.8%42.8%6.3%2.1%720.0K-5.0M-550.2K7.974.38N/AN/A8947,12498,86478,522
2010-08-31$19.41$20.0046.1%13.2%38.8%46.2%44.6%5.8%2.2%514.9K-8.4M-560.6K2.744.39N/AN/A3,4299,40998,69781,973