M Options History — March 2018

In March 2018, M traded between $27.28 and $30.47. ATM implied volatility averaged 39.1%, placing in the 25.0% IV rank vs the trailing year. The 30-day expected move averaged 11.3%. IV traded above realized volatility by 3.0% (HV 20d: 36.1%). Max pain ranged from $27.00 to $30.00. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.89.

Notable Days

  • 2018-03-13: Highest Volume — 110,921 contracts
  • 2018-03-12: Largest IV spike — 13.5% change
  • 2018-03-01: Highest IV Rank — 34.6%
  • 2018-03-01: Largest Expected Move — 13.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.08$27.28$30.47$29.24$29.75
Max Pain$29.33$27.00$30.00$27.00$29.00
ATM IV39.1%35.8%42.8%42.8%37.8%
Expected Move11.3%10.2%13.7%13.7%10.7%
HV 20d36.1%33.2%41.6%40.7%36.0%
HV 60d39.3%37.5%41.2%41.2%37.6%
IV Rank25.0%16.4%34.6%34.6%21.7%
IV Percentile46.2%32.1%61.5%61.5%39.3%
Term Structure0.3%-1.8%3.9%-1.4%0.9%
VWIV39.9%36.4%48.8%48.8%37.5%
Skew 25d3.5%1.7%6.9%4.7%3.3%
Skew 10d6.2%-2.1%10.6%9.6%1.3%
Call IV 25d38.1%31.7%41.3%41.3%36.6%
Put IV 25d41.6%37.7%46.0%46.0%39.9%
Bid-Ask Spread %8.672.4125.2110.265.64
Gamma HHI0.120.060.420.200.06
Net GEX4.4M-2.9M16.8M16.8M-1.0M
Net DEX-115.6M-442.7M64.9M-267.8M-90.7M
Net VEX-1.8M-2.0M-1.7M-1.9M-1.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.890.171.691.350.89
Total Volume36,244.42919,804110,92146,14126,975
Total OI515,832.476416,544623,180611,761445,886

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-03-01$29.24$27.0042.8%13.7%40.7%34.6%48.8%4.7%-1.4%16.8M-267.8M-1.9M1.3510.26N/AN/A19,64826,493263,360348,401
2018-03-02$30.47$27.0041.6%13.1%41.6%31.4%45.9%3.7%-0.3%12.3M-442.7M-2.0M0.309.59N/AN/A68,83320,975266,788356,392
2018-03-05$30.35$28.0040.7%11.7%39.4%29.1%41.9%3.5%-0.1%8.4M-294.8M-1.9M1.113.86N/AN/A13,95315,493226,069336,446
2018-03-06$30.34$28.0039.0%11.2%33.2%24.8%39.8%3.1%0.0%9.0M-294.9M-1.9M1.383.04N/AN/A11,07815,277228,162340,221
2018-03-07$29.90$28.0039.3%11.5%34.4%25.6%39.9%2.8%-0.0%8.9M-255.9M-1.8M1.698.30N/AN/A10,99118,538230,767345,641
2018-03-08$28.87$30.0040.3%11.2%37.3%28.0%39.3%2.5%-1.8%5.9M-133.1M-1.9M1.195.26N/AN/A12,71515,114231,317351,909
2018-03-09$28.85$30.0036.9%10.7%34.9%19.3%38.3%1.7%0.4%7.0M-122.1M-1.9M0.9612.82N/AN/A14,98414,348233,454355,714
2018-03-12$28.72$30.0041.9%11.3%35.1%32.2%40.1%6.9%-1.1%6.6M-111.7M-1.8M0.718.28N/AN/A17,86612,664225,790349,436
2018-03-13$29.73$30.0040.2%11.6%36.2%27.9%41.8%2.2%0.5%11.1M-224.6M-1.8M0.1725.21N/AN/A95,08915,832234,090353,180
2018-03-14$29.26$30.0037.8%11.0%36.7%21.5%38.6%3.0%0.8%9.0M-91.3M-1.9M0.342.41N/AN/A33,70311,440195,816357,013
2018-03-15$28.82$30.0037.0%10.6%36.7%19.5%37.5%2.2%0.0%3.0M-30.6M-1.8M0.7311.25N/AN/A13,1769,615193,333357,459
2018-03-16$29.01$30.0035.8%10.2%35.5%16.4%36.4%6.1%0.1%6.7M-44.5M-1.8M0.5513.55N/AN/A22,52412,435194,456358,806
2018-03-19$29.32$30.0037.0%10.6%35.3%19.5%38.1%3.0%1.6%106.4K-56.4M-1.8M1.094.39N/AN/A16,52717,967136,148280,396
2018-03-20$28.94$30.0036.5%10.5%34.3%18.2%36.4%2.9%1.3%-451.2K-30.9M-1.8M0.653.87N/AN/A13,9649,135143,169288,747
2018-03-21$28.69$30.0035.9%10.3%34.5%16.7%37.0%2.9%1.5%-1.2M-16.9M-1.8M0.8912.78N/AN/A10,5039,301144,147290,335
2018-03-22$28.32$30.0039.2%11.3%34.4%25.3%40.0%2.9%-1.0%-2.1M10.1M-1.8M0.9617.02N/AN/A11,64411,168145,436290,919
2018-03-23$27.28$30.0040.8%11.8%36.9%29.3%41.7%3.0%-1.5%-2.9M64.9M-1.8M1.494.93N/AN/A14,08120,933146,668292,025
2018-03-26$27.89$30.0039.3%11.0%36.7%25.5%38.8%2.9%1.4%-2.8M26.7M-1.7M0.693.77N/AN/A13,5249,351138,305288,499
2018-03-27$27.85$29.5040.0%11.0%33.7%27.2%38.6%5.6%3.9%-2.1M26.6M-1.7M0.765.46N/AN/A12,8359,724143,831288,552
2018-03-28$29.12$29.5041.4%11.6%35.2%30.9%40.4%4.2%1.3%-625.0K-47.5M-1.8M0.8910.32N/AN/A16,29314,424145,733289,666
2018-03-29$29.75$29.0037.8%10.7%36.0%21.7%37.5%3.3%0.9%-1.0M-90.7M-1.8M0.895.64N/AN/A14,26312,712150,673295,213