M Options History — October 2015

In October 2015, M traded between $47.93 and $51.74. ATM implied volatility averaged 39.6%, placing in the 57.6% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded above realized volatility by 16.3% (HV 20d: 23.3%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 0.70.

Notable Days

  • 2015-10-26: Highest Volume — 73,529 contracts
  • 2015-10-23: Largest IV spike — 13.3% change
  • 2015-10-29: Highest IV Rank — 86.7%
  • 2015-10-29: Largest Expected Move — 15.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$50.39$47.93$51.74$50.95$51.07
Max Pain$57.27$55.00$60.00$60.00$55.00
ATM IV39.6%32.2%50.9%34.9%48.5%
Expected Move12.0%9.4%15.5%10.0%15.2%
HV 20d23.3%20.5%25.3%24.6%22.0%
HV 60d24.3%22.4%28.1%27.8%25.0%
IV Rank57.6%38.4%86.7%45.5%80.5%
IV Percentile95.8%88.5%99.6%94.4%97.6%
Term Structure0.5%-3.8%8.3%0.3%-1.6%
VWIV41.8%31.7%57.9%36.3%53.4%
Skew 25d4.6%2.3%8.8%4.7%2.3%
Skew 10d8.8%6.2%12.6%8.5%10.3%
Call IV 25d37.9%30.7%48.0%33.6%47.9%
Put IV 25d42.6%34.9%56.5%38.3%50.2%
Bid-Ask Spread %19.887.4676.8172.2017.31
Gamma HHI0.160.110.230.150.11
Net GEX-2.0M-6.1M7.7M-2.8M7.7M
Net DEX339.3M155.8M419.1M347.8M155.8M
Net VEX-1.8M-2.2M-1.4M-1.8M-2.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.700.233.030.430.40
Total Volume21,597.5915,35973,52927,93541,022
Total OI373,245.636329,386464,916329,386464,916

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2015-10-01$50.95$60.0034.9%10.0%24.6%45.5%36.3%4.7%0.3%-2.8M347.8M-1.8M0.4372.20N/AN/A19,4848,451188,469140,917
2015-10-02$51.74$60.0033.4%9.4%24.8%41.6%31.7%4.1%0.1%-2.3M317.9M-2.0M0.4376.81N/AN/A11,6174,966197,164145,361
2015-10-05$51.71$57.5032.4%10.9%24.8%39.0%38.6%3.9%6.4%-2.3M317.5M-1.9M0.7910.96N/AN/A2,9872,372200,170144,731
2015-10-06$51.41$57.5032.2%11.0%24.0%38.4%38.5%4.8%7.1%-2.7M333.1M-1.8M0.7414.42N/AN/A8,5916,339201,263146,074
2015-10-07$51.05$57.5032.3%11.5%24.0%38.7%39.1%4.4%7.9%-3.3M349.6M-1.8M0.6212.14N/AN/A10,3856,459203,319149,240
2015-10-08$51.49$57.5034.3%11.5%24.7%43.8%39.2%4.1%8.3%-3.1M329.7M-1.9M0.4612.98N/AN/A14,9606,832206,337150,755
2015-10-09$51.26$57.5034.8%11.0%24.6%45.1%38.9%4.9%7.9%-4.3M346.4M-1.8M0.8412.15N/AN/A9,2167,720208,349152,095
2015-10-12$50.37$57.5036.7%10.9%25.0%50.1%36.0%4.3%-0.4%-5.2M395.8M-1.7M0.289.96N/AN/A16,5864,631206,001153,139
2015-10-13$50.21$57.5037.4%10.8%25.0%51.8%37.1%5.3%-0.4%-5.4M406.9M-1.6M1.058.58N/AN/A6,4516,803207,978154,213
2015-10-14$49.76$57.5039.3%11.1%24.7%56.7%37.4%4.7%-0.4%-5.7M419.1M-1.5M1.149.32N/AN/A11,79113,432208,701153,436
2015-10-15$50.46$57.5039.4%11.1%25.3%57.0%37.1%4.2%-0.9%-5.8M385.9M-1.7M0.427.46N/AN/A10,0324,243210,793157,463
2015-10-16$50.43$57.5037.6%10.6%22.4%52.3%35.9%4.9%-0.8%-6.1M390.7M-1.6M0.6111.85N/AN/A6,2933,838211,569158,192
2015-10-19$50.68$57.5038.8%11.0%22.6%55.4%37.6%4.0%-2.0%-3.1M351.5M-1.6M0.2811.83N/AN/A14,1043,905197,259145,475
2015-10-20$50.60$57.5038.5%11.0%22.1%54.8%40.4%3.8%-2.4%-2.0M340.8M-1.6M0.5410.27N/AN/A9,2915,059206,376146,366
2015-10-21$50.35$57.5038.9%11.1%22.2%55.7%39.4%4.3%-2.4%-1.8M347.7M-1.6M0.7910.44N/AN/A5,2784,162211,568147,964
2015-10-22$49.81$57.5038.8%11.2%21.8%55.5%40.2%4.5%-2.6%-2.3M366.3M-1.6M0.5811.30N/AN/A8,8755,156212,204148,518
2015-10-23$47.93$57.5043.9%12.9%24.7%68.8%44.6%4.1%-3.3%-3.0M416.9M-1.4M0.5812.81N/AN/A13,9428,051214,074149,434
2015-10-26$48.67$57.5048.5%14.8%21.1%80.7%50.6%5.4%-1.7%-1.5M360.2M-1.6M0.2317.99N/AN/A59,99313,536220,379152,023
2015-10-27$49.08$55.0049.9%15.4%21.4%84.3%57.9%4.5%-2.4%4.1M279.3M-1.9M3.0327.40N/AN/A9,52028,817268,371155,584
2015-10-28$49.85$55.0050.1%15.2%20.7%84.8%54.5%6.2%-2.2%3.5M248.1M-2.1M0.5332.13N/AN/A13,0496,903273,868180,792
2015-10-29$49.75$55.0050.9%15.5%20.5%86.7%54.9%8.8%-3.8%3.8M256.6M-2.1M0.6727.09N/AN/A11,9808,025277,369183,135
2015-10-30$51.07$55.0048.5%15.2%22.0%80.5%53.4%2.3%-1.6%7.7M155.8M-2.2M0.4017.31N/AN/A29,25911,763280,067184,849