M Options History — May 2017

In May 2017, M traded between $22.84 and $29.51. ATM implied volatility averaged 38.1%, placing in the 39.2% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded below realized volatility by 15.1% (HV 20d: 53.2%). Max pain ranged from $24.50 to $31.00. Net GEX was positive for 8 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.85.

Notable Days

  • 2017-05-11: Highest Volume — 155,952 contracts
  • 2017-05-11: Largest IV drop — 27.4% change
  • 2017-05-10: Highest IV Rank — 65.8%
  • 2017-05-03: Largest Expected Move — 14.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.42$22.84$29.51$28.88$23.35
Max Pain$27.43$24.50$31.00$31.00$24.50
ATM IV38.1%32.6%46.0%41.0%38.4%
Expected Move11.5%9.8%14.1%13.3%13.0%
HV 20d53.2%21.1%71.5%22.4%70.2%
HV 60d39.4%25.7%46.9%29.9%45.8%
IV Rank39.2%20.6%65.8%49.0%40.3%
IV Percentile63.9%28.6%95.2%78.6%68.3%
Term Structure-0.7%-2.5%2.5%-1.5%-2.1%
VWIV40.0%34.3%49.1%46.2%44.9%
Skew 25d1.6%-0.1%2.8%1.4%1.1%
Skew 10d2.0%-2.8%3.9%2.4%-0.3%
Call IV 25d37.4%31.5%44.5%39.9%38.4%
Put IV 25d38.9%33.7%46.4%41.2%39.5%
Bid-Ask Spread %16.544.1457.5718.0657.57
Gamma HHI0.100.060.270.070.08
Net GEX-272.8K-6.0M5.1M-1.5M2.6M
Net DEX168.1M62.3M337.7M95.5M123.9M
Net VEX-1.3M-1.4M-880.4K-1.3M-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.850.222.231.020.68
Total Volume39,148.86413,878155,95213,87821,246
Total OI400,987.045326,748525,671332,111416,087

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2017-05-01$28.88$31.0041.0%13.3%22.4%49.0%46.2%1.4%-1.5%-1.5M95.5M-1.3M1.0218.06N/AN/A6,8617,017166,823165,288
2017-05-02$29.51$31.0039.9%13.5%23.9%45.3%46.6%1.6%-1.3%-14.6K63.3M-1.4M0.9328.94N/AN/A7,6107,047169,075167,212
2017-05-03$29.22$31.0040.6%14.1%21.9%47.6%49.1%1.8%-1.7%-546.7K75.8M-1.3M0.6241.30N/AN/A8,6275,326170,864166,859
2017-05-04$28.95$30.0041.2%11.7%22.2%49.6%41.2%1.0%-2.3%-1.2M86.4M-1.3M2.019.53N/AN/A5,61611,267174,340167,298
2017-05-05$28.94$30.0040.9%11.5%21.1%48.6%40.6%1.0%-2.5%-2.5M95.7M-1.3M0.4210.56N/AN/A17,8677,553175,070172,017
2017-05-08$28.64$30.0043.6%12.3%21.3%57.7%43.8%1.6%0.1%-2.2M105.6M-1.3M2.239.17N/AN/A8,23618,378156,810169,938
2017-05-09$29.32$30.0044.6%12.9%22.6%61.2%44.8%1.3%0.3%-1.8M82.7M-1.3M0.4513.67N/AN/A26,51811,900160,059179,399
2017-05-10$29.42$30.0046.0%12.9%22.5%65.8%44.7%2.7%-1.0%-569.0K62.3M-1.4M0.6918.56N/AN/A38,86326,937174,226184,929
2017-05-11$24.31$29.0033.4%10.2%71.2%23.3%34.3%-0.1%2.5%-4.8M321.7M-880.4K1.0710.73N/AN/A75,25980,693188,306195,846
2017-05-12$23.62$28.0034.7%10.3%71.5%27.8%36.0%1.1%1.6%-6.0M337.7M-1.0M1.157.65N/AN/A31,13435,858233,487219,611
2017-05-15$23.20$27.0035.4%10.3%71.5%30.0%35.8%1.4%-1.0%-2.7M304.6M-1.0M0.559.26N/AN/A34,14118,659221,498209,281
2017-05-16$22.84$27.0038.0%11.0%71.5%39.0%37.9%1.1%-2.0%-2.0M299.4M-1.1M0.914.14N/AN/A53,07648,415244,429215,506
2017-05-17$23.10$25.0039.1%11.2%71.4%42.6%38.9%1.6%-1.3%-296.7K265.5M-1.3M1.668.58N/AN/A15,89526,308279,621227,984
2017-05-18$22.84$25.0038.2%11.0%69.5%39.6%38.6%1.1%-0.0%-317.7K278.0M-1.3M0.445.07N/AN/A20,2458,906285,867233,500
2017-05-19$23.01$25.0037.7%10.9%69.9%38.0%37.5%1.2%-0.4%4.3M268.8M-1.3M0.749.55N/AN/A24,47518,095290,821234,850
2017-05-22$23.45$25.0035.4%10.4%70.8%30.2%36.7%2.8%-0.4%1.2M132.5M-1.3M0.3610.04N/AN/A20,7057,371206,634180,776
2017-05-23$23.06$25.0034.4%10.3%70.6%26.7%35.0%2.4%-0.3%1.1M155.3M-1.2M0.5821.79N/AN/A12,2887,127215,271182,586
2017-05-24$23.21$25.0033.0%10.0%70.6%21.9%35.3%2.6%0.1%1.6M150.2M-1.3M0.7717.93N/AN/A8,7316,697218,337184,830
2017-05-25$23.41$25.0033.1%10.2%70.8%22.5%36.2%2.1%-0.5%2.8M137.5M-1.3M0.686.63N/AN/A12,3958,444220,497186,598
2017-05-26$23.44$25.0032.6%9.8%70.9%20.6%34.9%2.1%-0.0%5.1M134.6M-1.3M0.508.11N/AN/A11,7555,834223,406188,413
2017-05-30$23.58$25.0036.7%12.1%71.1%34.5%41.8%1.8%-1.6%1.8M122.0M-1.3M0.2236.92N/AN/A26,1065,794212,543184,923
2017-05-31$23.35$24.5038.4%13.0%70.2%40.3%44.9%1.1%-2.1%2.6M123.9M-1.4M0.6857.57N/AN/A12,6248,622229,242186,845