M Options History — April 2015

In April 2015, M traded between $64.61 and $69.80. ATM implied volatility averaged 26.8%, placing in the 36.1% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded above realized volatility by 3.4% (HV 20d: 23.4%). Max pain ranged from $62.50 to $67.50. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.99.

Notable Days

  • 2015-04-02: Highest Volume — 39,364 contracts
  • 2015-04-08: Largest IV spike — 30.8% change
  • 2015-04-30: Highest IV Rank — 49.3%
  • 2015-04-30: Largest Expected Move — 9.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$67.23$64.61$69.80$65.36$64.61
Max Pain$67.14$62.50$67.50$62.50$67.50
ATM IV26.8%19.2%32.0%19.2%32.0%
Expected Move7.8%5.5%9.2%5.5%9.2%
HV 20d23.4%15.9%25.6%15.9%24.6%
HV 60d21.5%20.1%23.2%21.8%20.1%
IV Rank36.1%16.7%49.3%16.7%49.3%
IV Percentile72.5%22.6%90.9%22.6%90.9%
Term Structure-2.9%-6.5%4.6%4.6%-6.5%
VWIV27.6%19.6%32.0%19.6%32.0%
Skew 25d1.7%0.9%2.5%0.9%2.3%
Skew 10d3.4%1.5%5.0%2.6%4.3%
Call IV 25d26.9%19.3%31.3%19.3%31.3%
Put IV 25d28.6%20.3%33.6%20.3%33.6%
Bid-Ask Spread %10.046.9613.009.449.09
Gamma HHI0.250.180.470.290.29
Net GEX3.3M-8.7M14.5M9.5M-8.7M
Net DEX-120.4M-267.7M74.2M-104.8M74.2M
Net VEX-1.3M-1.3M-1.1M-1.1M-1.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.990.273.880.711.04
Total Volume12,654.6674,41239,36413,3555,408
Total OI143,137.714115,112163,710115,112151,514

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-04-01$65.36$62.5019.2%5.5%15.9%16.7%19.6%0.9%4.6%9.5M-104.8M-1.1M0.719.44N/AN/A7,7905,56557,44657,666
2015-04-02$67.97$65.0021.2%6.9%20.7%21.9%24.5%1.9%-0.4%8.5M-200.4M-1.2M0.939.32N/AN/A20,34419,02061,19460,647
2015-04-06$68.16$67.5021.7%7.1%20.5%23.0%25.2%2.0%-1.3%8.3M-196.5M-1.2M0.3410.03N/AN/A7,8602,67868,21170,122
2015-04-07$67.93$67.5020.8%7.1%20.3%20.9%25.0%2.1%-1.1%9.7M-198.8M-1.3M0.986.96N/AN/A7,1426,97671,24569,342
2015-04-08$69.80$67.5027.3%7.8%21.8%37.2%27.7%2.5%-3.1%7.6M-262.6M-1.2M0.4113.00N/AN/A16,8106,84570,45670,111
2015-04-09$68.00$67.5027.4%7.9%23.4%37.7%27.8%1.8%-2.5%8.4M-203.0M-1.3M0.9910.07N/AN/A6,7376,68476,85073,389
2015-04-10$69.19$67.5028.2%8.1%23.7%39.5%29.0%1.3%-3.1%7.8M-249.8M-1.3M0.429.89N/AN/A18,7357,85876,36975,896
2015-04-13$69.25$67.5028.2%8.1%23.7%39.7%28.6%1.3%-3.4%14.5M-267.7M-1.3M0.5310.86N/AN/A4,8292,55286,16977,541
2015-04-14$68.00$67.5028.6%8.2%24.8%40.7%28.9%1.8%-3.3%9.9M-202.2M-1.3M1.1010.00N/AN/A4,4434,89285,14178,079
2015-04-15$67.81$67.5028.4%8.1%24.9%40.1%28.8%1.3%-3.5%6.2M-188.7M-1.3M0.889.50N/AN/A3,6093,18383,32978,696
2015-04-16$67.65$67.5027.9%8.0%24.9%38.9%28.5%1.3%-3.0%3.6M-184.0M-1.3M0.7912.36N/AN/A2,4671,94583,79878,936
2015-04-17$66.55$67.5027.9%8.0%25.6%38.9%28.7%1.1%-3.3%-375.6K-120.2M-1.3M0.687.26N/AN/A3,9242,66983,70478,838
2015-04-20$66.82$67.5027.7%7.9%25.2%38.4%28.5%1.3%-3.4%156.0K-54.9M-1.2M0.409.95N/AN/A4,9251,98053,54268,085
2015-04-21$67.05$67.5026.5%7.6%25.2%35.3%26.5%1.4%-2.8%709.1K-66.2M-1.2M1.499.43N/AN/A5,5008,18456,66068,594
2015-04-22$67.00$67.5025.7%7.4%25.1%33.2%25.8%1.8%-2.1%-734.1K-54.6M-1.3M0.2710.75N/AN/A5,8191,55258,24173,754
2015-04-23$67.40$67.5026.8%7.7%24.8%36.1%27.6%1.7%-3.0%407.6K-72.2M-1.3M2.0212.08N/AN/A3,9698,00460,06673,861
2015-04-24$67.01$67.5026.9%7.7%23.3%36.2%27.7%1.8%-3.1%-1.7M-47.2M-1.3M0.919.89N/AN/A3,4953,17860,22378,892
2015-04-27$65.76$67.5028.6%8.2%24.5%40.6%28.5%2.2%-3.9%-4.2M6.0M-1.3M0.6910.27N/AN/A5,3423,69260,36479,927
2015-04-28$65.75$67.5031.1%8.9%24.2%47.0%31.0%1.9%-5.9%-4.3M6.0M-1.3M1.2310.04N/AN/A4,5375,57161,05781,991
2015-04-29$64.76$67.5031.0%8.9%24.7%46.7%30.8%2.4%-5.8%-6.8M58.4M-1.3M3.8810.69N/AN/A3,90015,13561,62584,321
2015-04-30$64.61$67.5032.0%9.2%24.6%49.3%32.0%2.3%-6.5%-8.7M74.2M-1.3M1.049.09N/AN/A2,6462,76262,25489,260