M Options History — February 2018

In February 2018, M traded between $23.65 and $29.45. ATM implied volatility averaged 56.6%, placing in the 72.9% IV rank vs the trailing year. The 30-day expected move averaged 16.6%. IV traded above realized volatility by 17.8% (HV 20d: 38.8%). Max pain ranged from $25.00 to $27.00. Net GEX was positive for 11 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 0.62.

Notable Days

  • 2018-02-27: Highest Volume — 217,328 contracts
  • 2018-02-27: Largest IV drop — 24.5% change
  • 2018-02-01: Highest IV Rank — 100.0%
  • 2018-02-26: Largest Expected Move — 19.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.69$23.65$29.45$25.56$29.45
Max Pain$25.74$25.00$27.00$27.00$27.00
ATM IV56.6%41.3%68.0%58.4%41.3%
Expected Move16.6%13.0%19.4%14.5%13.0%
HV 20d38.8%34.6%42.5%35.4%40.8%
HV 60d44.0%40.7%48.3%47.3%41.2%
IV Rank72.9%30.7%100.0%100.0%30.7%
IV Percentile93.5%56.0%100.0%100.0%56.0%
Term Structure-2.6%-7.4%3.5%-2.4%-0.7%
VWIV57.6%45.6%68.4%51.8%45.6%
Skew 25d5.0%0.8%13.8%1.4%5.4%
Skew 10d11.4%-7.7%63.6%2.3%8.9%
Call IV 25d53.3%40.1%62.7%52.1%40.1%
Put IV 25d58.4%45.6%69.9%53.5%45.6%
Bid-Ask Spread %8.753.3922.167.9513.79
Gamma HHI0.120.080.180.080.18
Net GEX2.4M-2.2M14.4M436.6K12.7M
Net DEX-51.8M-311.1M103.1M2.6M-311.1M
Net VEX-1.7M-1.8M-1.6M-1.6M-1.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.620.411.150.420.54
Total Volume58,083.21117,326217,32824,323141,809
Total OI506,020.947429,508567,672473,895550,153

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-02-01$25.56$27.0058.4%14.5%35.4%100.0%51.8%1.4%-2.4%436.6K2.6M-1.6M0.427.95N/AN/A17,0997,224192,392281,503
2018-02-02$24.81$27.0057.0%16.0%34.6%95.2%55.7%0.8%-2.1%-909.8K56.3M-1.6M0.525.45N/AN/A45,13023,545198,687284,752
2018-02-05$23.65$26.0068.0%16.4%38.6%100.0%57.9%13.8%-7.4%-1.8M103.1M-1.6M0.6117.12N/AN/A24,51314,973213,490292,662
2018-02-06$24.15$26.0062.0%17.5%39.4%84.6%60.0%4.9%-0.3%-1.2M69.6M-1.7M0.945.65N/AN/A14,57413,750214,363295,528
2018-02-07$24.86$26.0056.8%15.9%40.6%71.0%54.3%3.0%-1.8%-368.5K32.4M-1.7M0.613.39N/AN/A14,7578,993218,561298,039
2018-02-08$24.15$26.0056.2%16.7%39.3%69.5%57.5%1.7%3.5%-1.4M73.1M-1.6M0.506.98N/AN/A11,5195,807224,592298,746
2018-02-09$24.17$26.0065.8%18.4%37.9%94.2%62.1%7.2%-1.3%-1.4M75.2M-1.7M0.5410.72N/AN/A17,2869,298223,354298,013
2018-02-12$24.22$26.0060.9%17.4%36.6%81.6%60.3%5.7%-4.3%-2.2M60.3M-1.7M0.786.54N/AN/A12,94110,060212,512292,322
2018-02-13$24.89$26.0059.9%17.2%36.2%78.9%59.7%6.0%-4.3%-692.4K12.9M-1.6M0.555.67N/AN/A45,30625,046216,028293,575
2018-02-14$25.64$25.0053.7%15.4%37.6%62.9%53.6%4.7%-2.3%3.0M-69.8M-1.7M0.467.14N/AN/A27,64212,712245,884310,186
2018-02-15$26.44$25.0055.4%16.1%39.0%67.2%55.8%3.7%-4.9%5.9M-141.4M-1.7M0.463.73N/AN/A21,0979,808249,848314,335
2018-02-16$26.30$25.0055.1%16.2%38.6%66.5%56.8%4.4%-4.9%2.6M-126.1M-1.7M0.474.18N/AN/A15,3547,232251,731315,941
2018-02-20$25.67$25.0056.1%17.5%39.2%69.2%60.8%5.5%-3.4%2.2M-77.6M-1.6M0.845.35N/AN/A15,01312,593177,831251,677
2018-02-21$25.56$25.0055.8%17.6%39.2%68.3%60.3%5.0%-3.0%2.3M-65.8M-1.6M0.598.44N/AN/A16,0569,405184,143258,969
2018-02-22$26.20$25.0057.0%18.4%40.4%71.3%62.1%5.9%-3.1%4.7M-108.9M-1.6M0.796.01N/AN/A37,84630,047189,065263,652
2018-02-23$26.65$25.0057.8%18.5%40.2%73.6%64.3%7.2%-2.8%3.1M-141.5M-1.7M1.1520.77N/AN/A21,81625,053210,647284,027
2018-02-26$27.33$25.0055.7%19.4%40.0%68.1%68.4%3.6%-3.1%3.7M-153.4M-1.7M0.4122.16N/AN/A114,13146,818199,815275,711
2018-02-27$28.45$26.0042.0%13.1%42.5%32.6%47.7%5.3%-0.1%14.4M-273.4M-1.8M0.555.12N/AN/A140,20977,119240,324291,340
2018-02-28$29.45$27.0041.3%13.0%40.8%30.7%45.6%5.4%-0.7%12.7M-311.1M-1.7M0.5413.79N/AN/A92,09149,718233,461316,692