M Options History — October 2010

In October 2010, M traded between $22.18 and $24.96. ATM implied volatility averaged 39.5%, placing in the 29.1% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded above realized volatility by 14.7% (HV 20d: 24.8%). Max pain ranged from $21.00 to $23.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 1.52.

Notable Days

  • 2010-10-27: Highest Volume — 24,319 contracts
  • 2010-10-11: Largest IV spike — 17.2% change
  • 2010-10-27: Highest IV Rank — 40.0%
  • 2010-10-27: Largest Expected Move — 12.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$23.46$22.18$24.96$23.15$23.67
Max Pain$22.24$21.00$23.00$21.00$22.00
ATM IV39.5%33.4%43.7%35.5%43.5%
Expected Move11.7%10.2%12.5%10.2%12.5%
HV 20d24.8%17.0%32.1%17.0%32.1%
HV 60d34.6%30.9%38.3%38.1%30.9%
IV Rank29.1%13.2%40.0%18.7%39.5%
IV Percentile32.2%10.7%51.2%14.7%51.2%
Term Structure-0.4%-2.4%5.1%5.1%-2.4%
VWIV41.1%35.6%44.8%35.6%44.0%
Skew 25d5.7%2.4%7.2%3.7%2.4%
Skew 10d12.4%6.3%15.8%10.0%6.3%
Call IV 25d38.4%33.9%43.2%33.9%43.2%
Put IV 25d44.0%37.6%46.4%37.6%45.7%
Bid-Ask Spread %7.333.8312.236.0510.86
Gamma HHI0.190.150.220.170.20
Net GEX1.8M1.3M2.8M1.6M2.8M
Net DEX-104.7M-172.6M-43.1M-102.3M-110.4M
Net VEX-539.6K-573.2K-517.8K-573.2K-549.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.520.273.753.010.32
Total Volume9,1702,81424,3195,9665,400
Total OI204,940.286185,361221,510201,090209,217

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2010-10-01$23.15$21.0035.5%10.2%17.0%18.7%35.6%3.7%5.1%1.6M-102.3M-573.2K3.016.05N/AN/A1,4874,479107,37293,718
2010-10-04$22.76$22.0038.2%11.8%18.8%25.7%43.0%7.2%0.3%1.3M-86.6M-571.5K1.484.34N/AN/A1,8852,793108,33495,745
2010-10-05$23.52$22.0035.3%11.1%19.3%18.2%38.9%6.9%0.5%1.6M-117.1M-540.3K1.524.24N/AN/A2,1963,329108,00195,970
2010-10-06$23.70$22.0036.1%11.3%18.9%20.3%44.8%6.9%0.4%1.8M-123.9M-540.2K2.054.03N/AN/A3,8727,928108,65794,720
2010-10-07$23.85$22.0035.1%11.3%18.9%17.5%40.7%6.8%0.8%1.8M-128.2M-541.5K1.103.83N/AN/A5,8996,485109,30995,559
2010-10-08$24.36$22.0033.4%11.2%19.5%13.2%38.0%6.2%1.0%1.9M-150.4M-542.0K0.464.55N/AN/A5,5262,534112,72296,459
2010-10-11$24.85$22.0039.1%11.3%20.0%28.2%40.9%6.5%0.2%2.2M-172.4M-517.8K2.414.77N/AN/A3,2667,887115,42296,609
2010-10-12$24.96$22.0037.5%11.2%18.6%23.8%39.5%6.0%0.2%1.8M-172.6M-527.2K0.884.22N/AN/A2,7912,465116,615100,170
2010-10-13$24.34$22.0036.5%11.6%21.3%21.2%41.4%6.3%-0.6%1.8M-149.0M-534.8K2.457.18N/AN/A3,7769,266117,131100,180
2010-10-14$24.04$22.0040.4%11.6%22.3%31.4%40.0%6.6%-0.6%1.4M-133.3M-548.6K1.495.97N/AN/A2,8124,200117,156104,354
2010-10-15$24.18$22.0040.0%11.5%22.3%30.4%38.8%6.4%-0.2%2.4M-143.7M-543.6K0.726.47N/AN/A3,3562,414117,902103,137
2010-10-18$24.00$22.0040.7%11.7%22.2%32.1%40.6%6.4%-0.5%2.2M-111.2M-528.2K3.757.41N/AN/A1,5265,720104,38880,973
2010-10-19$22.64$23.0042.2%12.1%31.3%36.1%41.9%6.4%-1.4%1.6M-61.8M-529.5K0.797.61N/AN/A4,4363,513105,12685,768
2010-10-20$22.43$23.0043.0%12.3%31.5%38.0%41.5%6.5%-1.7%1.7M-55.2M-528.8K1.057.46N/AN/A4,6724,901107,30186,485
2010-10-21$22.25$23.0041.9%12.0%31.3%35.4%42.4%5.7%-1.4%1.4M-45.8M-524.8K3.659.09N/AN/A1,9637,164105,78389,432
2010-10-22$22.18$23.0041.8%12.0%30.4%35.0%44.0%5.6%-1.5%1.4M-43.1M-540.7K1.9810.25N/AN/A9451,869106,42895,086
2010-10-25$22.47$23.0042.0%12.0%30.8%35.6%40.6%5.5%-2.3%1.6M-51.8M-533.1K1.2112.23N/AN/A4,2355,142106,80896,269
2010-10-26$22.96$23.0040.5%11.6%31.5%31.7%40.2%5.1%-1.4%1.9M-72.0M-537.0K0.969.94N/AN/A2,5172,419106,80194,784
2010-10-27$23.04$22.0043.7%12.5%31.4%40.0%43.1%3.5%-2.0%1.8M-77.6M-537.6K0.2712.19N/AN/A19,1705,149106,50294,545
2010-10-28$23.29$22.0043.3%12.4%31.6%38.9%42.8%2.5%-1.9%2.3M-91.0M-541.2K0.3911.16N/AN/A15,2675,916111,69495,114
2010-10-29$23.67$22.0043.5%12.5%32.1%39.5%44.0%2.4%-2.4%2.8M-110.4M-549.9K0.3210.86N/AN/A4,0931,307115,46193,756