M Options History — September 2010

In September 2010, M traded between $20.19 and $23.17. ATM implied volatility averaged 38.4%, placing in the 26.2% IV rank vs the trailing year. The 30-day expected move averaged 11.2%. IV traded above realized volatility by 6.9% (HV 20d: 31.5%). Max pain ranged from $20.00 to $21.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 2.17.

Notable Days

  • 2010-09-14: Highest Volume — 21,629 contracts
  • 2010-09-07: Largest IV spike — 18.3% change
  • 2010-09-07: Highest IV Rank — 37.5%
  • 2010-09-07: Largest Expected Move — 12.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.66$20.19$23.17$20.19$23.08
Max Pain$20.86$20.00$21.00$20.00$21.00
ATM IV38.4%35.3%42.7%42.3%35.6%
Expected Move11.2%10.1%12.9%12.1%10.2%
HV 20d31.5%18.4%40.3%39.7%18.4%
HV 60d42.6%38.4%45.5%45.2%38.4%
IV Rank26.2%18.2%37.5%36.2%19.1%
IV Percentile21.3%14.3%33.7%30.6%15.1%
Term Structure3.4%1.7%4.7%2.8%4.4%
VWIV39.6%35.7%44.8%42.8%35.7%
Skew 25d5.8%4.2%7.6%5.9%4.2%
Skew 10d12.4%8.0%15.3%14.1%8.0%
Call IV 25d36.9%33.5%41.1%39.5%34.5%
Put IV 25d42.7%38.7%48.3%45.3%38.7%
Bid-Ask Spread %4.904.365.875.395.87
Gamma HHI0.160.130.190.150.18
Net GEX785.0K13.2K1.7M635.1K1.7M
Net DEX-57.6M-103.7M-22.1M-24.6M-102.3M
Net VEX-588.6K-647.2K-546.0K-594.2K-575.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.170.155.384.172.88
Total Volume8,611.0952,16521,6298,0852,644
Total OI195,615.048179,456218,362185,640199,666

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-09-01$20.19$20.0042.3%12.1%39.7%36.2%42.8%5.9%2.8%635.1K-24.6M-594.2K4.175.39N/AN/A1,5646,521100,36185,279
2010-09-02$20.71$20.0038.5%11.1%40.3%26.6%39.4%5.7%4.7%646.9K-37.5M-611.6K3.944.72N/AN/A3,46713,653101,11287,970
2010-09-03$20.87$20.0036.1%11.9%39.6%20.3%41.5%7.6%2.5%471.3K-36.9M-623.7K1.405.87N/AN/A2,7643,874102,70293,191
2010-09-07$20.48$21.0042.7%12.9%40.1%37.5%43.8%7.2%1.9%13.2K-22.8M-600.1K3.064.40N/AN/A3,27410,016101,39595,105
2010-09-08$20.42$21.0041.1%12.8%39.3%33.1%44.8%7.2%1.7%188.5K-22.1M-599.3K1.264.73N/AN/A6,0087,587103,51194,445
2010-09-09$20.63$21.0041.5%11.9%33.9%34.3%41.8%7.0%2.7%402.7K-32.6M-611.4K1.084.96N/AN/A2,6402,857108,66994,012
2010-09-10$20.80$21.0040.9%11.7%33.6%32.8%40.7%7.1%2.6%459.1K-40.2M-601.1K0.365.60N/AN/A3,8241,370108,92494,140
2010-09-13$21.05$21.0041.5%11.9%33.7%34.3%41.7%6.7%2.6%649.2K-46.1M-600.0K5.384.43N/AN/A1,4777,939107,51794,529
2010-09-14$21.65$21.0039.8%11.4%34.9%29.8%41.5%6.9%3.1%753.3K-65.4M-604.9K0.294.65N/AN/A16,8194,810106,52996,763
2010-09-15$21.50$21.0040.4%11.6%34.6%31.5%40.3%6.7%2.9%1.7M-77.9M-647.2K1.024.48N/AN/A7,6657,852121,83496,528
2010-09-16$21.69$21.0038.0%10.9%33.6%25.2%39.5%5.8%3.8%1.3M-74.0M-631.4K2.014.76N/AN/A7651,538114,690101,660
2010-09-17$21.75$21.0036.5%10.5%33.0%21.4%39.4%5.3%4.6%509.1K-59.2M-569.9K4.014.92N/AN/A1,1564,637101,081100,894
2010-09-20$22.13$21.0035.9%10.3%33.2%19.6%37.0%5.7%4.1%849.6K-59.3M-555.3K1.404.56N/AN/A2,0002,79892,28187,175
2010-09-21$21.99$21.0036.5%10.5%29.9%21.2%36.8%5.6%3.9%794.3K-55.2M-564.9K1.414.74N/AN/A1,0741,51193,59388,450
2010-09-22$22.00$21.0037.0%10.6%27.0%22.6%37.0%5.4%3.8%787.3K-56.4M-562.1K4.244.64N/AN/A1,2265,19394,16989,091
2010-09-23$22.28$21.0037.6%10.8%27.1%24.1%38.2%4.6%3.3%519.3K-60.0M-563.2K4.234.80N/AN/A2,1539,10394,19993,068
2010-09-24$22.75$21.0035.3%10.1%24.0%18.2%36.9%4.3%4.1%740.5K-75.3M-563.8K0.424.77N/AN/A5,6952,37494,94392,815
2010-09-27$22.73$21.0036.8%10.6%23.8%22.1%37.8%5.2%3.7%929.1K-76.6M-558.6K1.944.36N/AN/A7361,42996,84492,048
2010-09-28$22.97$21.0036.1%10.3%21.3%20.1%37.7%4.7%4.1%843.9K-81.1M-546.0K0.155.37N/AN/A13,7512,12494,73092,458
2010-09-29$23.17$21.0036.2%10.4%21.3%20.5%37.9%4.2%4.3%1.6M-103.7M-576.3K0.874.95N/AN/A1,5781,367106,10693,439
2010-09-30$23.08$21.0035.6%10.2%18.4%19.1%35.7%4.2%4.4%1.7M-102.3M-575.1K2.885.87N/AN/A6811,963107,13192,535