M Options History — October 2014

In October 2014, M traded between $54.99 and $59.60. ATM implied volatility averaged 29.3%, placing in the 42.5% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 4.6% (HV 20d: 24.8%). Max pain ranged from $52.50 to $52.50. Net GEX was positive for 15 of 23 trading days. Term structure was in contango for 3 of 23 days. Put/call ratio averaged 1.24.

Notable Days

  • 2014-10-08: Highest Volume — 26,969 contracts
  • 2014-10-15: Largest IV spike — 34.8% change
  • 2014-10-15: Highest IV Rank — 73.3%
  • 2014-10-15: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$57.52$54.99$59.60$57.76$57.84
Max Pain$52.50$52.50$52.50$52.50$52.50
ATM IV29.3%20.8%41.5%22.6%29.8%
Expected Move7.6%6.6%8.8%6.7%7.6%
HV 20d24.8%16.6%28.8%16.8%27.5%
HV 60d23.7%21.2%25.3%21.2%24.8%
IV Rank42.5%20.8%73.3%25.5%43.7%
IV Percentile81.0%40.9%97.2%55.2%86.5%
Term Structure-1.8%-4.5%3.5%2.1%-2.0%
VWIV26.8%23.1%31.2%26.3%26.6%
Skew 25d3.9%2.2%5.4%2.2%3.5%
Skew 10d8.5%5.1%12.5%5.1%7.8%
Call IV 25d28.1%20.7%34.4%22.4%28.6%
Put IV 25d32.1%22.9%39.8%24.6%32.1%
Bid-Ask Spread %12.468.1718.1510.249.63
Gamma HHI0.170.140.300.140.17
Net GEX365.5K-3.3M3.7M292.2K713.5K
Net DEX505.8K-69.3M94.2M13.4M-21.0M
Net VEX-1.0M-1.1M-937.9K-946.6K-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.240.326.880.780.89
Total Volume7,831.9131,48626,9694,9807,782
Total OI122,821.13106,267136,277106,267136,277

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-10-01$57.76$52.5022.6%6.7%16.8%25.5%26.3%2.2%2.1%292.2K13.4M-946.6K0.7810.24N/AN/A2,7982,18250,03756,230
2014-10-02$58.35$52.5022.7%6.8%16.6%25.8%24.5%2.5%1.9%679.5K-1.7M-961.5K0.398.39N/AN/A2,7631,08050,17757,308
2014-10-03$59.60$52.5020.8%6.6%18.5%20.8%23.1%2.3%3.5%1.5M-39.2M-977.1K1.079.69N/AN/A2,3142,47650,29357,593
2014-10-06$58.51$52.5023.7%6.8%18.4%28.2%23.9%2.8%-0.8%266.2K-4.2M-948.4K0.358.17N/AN/A1,10238450,32359,322
2014-10-07$57.36$52.5024.7%6.9%19.5%30.7%24.4%3.1%-1.5%-489.1K26.1M-937.9K2.8810.02N/AN/A2,8808,30650,57059,504
2014-10-08$57.99$52.5024.6%7.1%19.9%30.3%25.0%4.0%-1.5%-952.1K9.9M-972.8K1.1914.62N/AN/A12,32214,64751,48563,016
2014-10-09$56.40$52.5026.8%7.3%22.0%35.9%25.5%3.3%-1.7%-1.9M48.7M-1.0M1.1015.03N/AN/A2,7252,99357,41069,110
2014-10-10$56.68$52.5027.3%7.7%22.1%37.4%27.4%3.7%-2.5%-1.9M42.3M-1.0M0.5716.19N/AN/A11,0356,26358,28770,060
2014-10-13$54.99$52.5036.1%8.3%24.2%59.6%28.5%4.2%-3.5%-3.3M94.2M-988.8K0.9312.81N/AN/A4,2573,97862,84472,863
2014-10-14$56.80$52.5030.8%8.1%27.0%46.1%28.7%5.1%-2.9%-2.3M32.8M-1.0M1.9911.26N/AN/A2,7895,54760,88270,089
2014-10-15$56.14$52.5041.5%8.8%26.9%73.3%31.2%5.4%-4.0%-1.9M45.8M-1.0M1.1818.15N/AN/A4,5215,33563,07970,434
2014-10-16$56.57$52.5036.1%8.6%27.2%59.5%30.3%5.4%-4.5%-1.4M25.5M-1.1M0.3414.95N/AN/A4,1261,40663,71069,509
2014-10-17$56.21$52.5033.5%8.3%27.2%53.1%30.8%4.7%-3.4%88.8K45.5M-1.0M0.3211.97N/AN/A8,9222,88464,57769,922
2014-10-20$57.07$52.5030.3%7.8%27.2%45.0%27.3%5.0%-1.4%2.1M-19.9M-1.0M0.9512.13N/AN/A1,5811,49756,13658,194
2014-10-21$58.43$52.5029.8%7.6%28.6%43.6%26.6%5.1%-1.6%3.1M-51.9M-1.0M1.0912.58N/AN/A2,6952,93956,69659,050
2014-10-22$57.61$52.5030.0%7.6%28.4%44.2%26.4%4.2%-2.0%2.6M-31.1M-1.0M1.2512.70N/AN/A1,5591,94857,64860,134
2014-10-23$58.30$52.5029.8%7.6%28.5%43.6%26.9%4.1%-2.0%3.2M-49.9M-1.0M0.8312.64N/AN/A4,2183,49157,80760,371
2014-10-24$59.05$52.5028.8%7.4%28.4%41.2%26.3%3.8%-2.1%3.7M-69.3M-1.0M1.2213.47N/AN/A1,8822,28858,74161,896
2014-10-27$58.49$52.5031.4%7.8%28.2%47.8%26.6%3.8%-2.7%3.2M-51.1M-1.0M6.8812.85N/AN/A1,68711,60659,10562,595
2014-10-28$57.27$52.5031.1%7.7%28.8%47.1%26.6%4.5%-2.9%71.9K371.8K-1.0M0.6512.77N/AN/A3,4882,25359,87272,245
2014-10-29$57.53$52.5031.2%7.8%28.8%47.3%26.5%4.1%-2.8%480.9K-12.6M-1.1M1.0014.27N/AN/A2,2162,22261,27173,029
2014-10-30$57.92$52.5031.1%7.7%28.7%46.9%26.8%3.4%-2.8%706.6K-21.0M-1.1M0.6512.08N/AN/A2,8751,87261,56573,620
2014-10-31$57.84$52.5029.8%7.6%27.5%43.7%26.6%3.5%-2.0%713.5K-21.0M-1.1M0.899.63N/AN/A4,1163,66662,26374,014