M Options History — April 2018

In April 2018, M traded between $28.22 and $32.07. ATM implied volatility averaged 45.4%, placing in the 41.4% IV rank vs the trailing year. The 30-day expected move averaged 14.4%. IV traded above realized volatility by 10.4% (HV 20d: 35.0%). Max pain ranged from $29.50 to $30.00. Net GEX was positive for 6 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 1.10.

Notable Days

  • 2018-04-20: Highest Volume — 45,784 contracts
  • 2018-04-16: Largest IV spike — 8.6% change
  • 2018-04-25: Highest IV Rank — 60.8%
  • 2018-04-30: Largest Expected Move — 16.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$29.85$28.22$32.07$29.10$31.16
Max Pain$29.93$29.50$30.00$29.50$30.00
ATM IV45.4%37.8%52.9%41.6%51.4%
Expected Move14.4%11.5%16.9%12.6%16.9%
HV 20d35.0%31.2%37.6%33.5%32.0%
HV 60d36.6%35.7%38.0%37.1%36.1%
IV Rank41.4%21.6%60.8%31.6%56.9%
IV Percentile68.1%35.7%90.9%56.3%88.5%
Term Structure1.7%-4.4%12.8%7.5%-3.7%
VWIV50.7%40.2%59.0%44.6%59.0%
Skew 25d3.8%2.0%5.4%2.0%4.2%
Skew 10d6.1%-9.8%10.1%0.7%6.7%
Call IV 25d43.8%36.4%50.4%42.0%48.2%
Put IV 25d47.6%40.5%54.6%44.0%52.4%
Bid-Ask Spread %8.053.6515.8615.577.92
Gamma HHI0.100.060.400.060.09
Net GEX-15.1K-2.8M7.1M-993.1K-1.3M
Net DEX-81.3M-202.1M24.4M-46.7M-117.6M
Net VEX-1.7M-1.8M-1.5M-1.7M-1.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.100.482.830.901.21
Total Volume29,069.47618,06645,78429,39026,901
Total OI447,024.333421,037468,865429,978458,233

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-04-02$29.10$29.5041.6%12.6%33.5%31.6%44.6%2.0%7.5%-993.1K-46.7M-1.7M0.9015.57N/AN/A15,44713,943141,923288,055
2018-04-03$29.05$29.5040.4%11.7%33.5%28.4%41.1%3.6%-1.1%-745.7K-45.7M-1.7M1.074.64N/AN/A9,40610,075148,074290,872
2018-04-04$30.08$29.5039.3%11.5%36.0%25.6%40.2%3.3%1.4%410.9K-107.3M-1.8M0.9515.86N/AN/A12,52111,938149,676290,836
2018-04-05$30.92$30.0038.4%13.4%36.9%23.1%47.9%2.3%4.6%1.7M-168.3M-1.7M0.776.45N/AN/A17,46313,451153,505293,528
2018-04-06$29.82$30.0040.0%14.1%37.0%27.2%49.9%3.8%-2.0%3.6M-94.0M-1.8M1.009.22N/AN/A14,76814,799157,923291,636
2018-04-09$29.31$30.0040.3%14.2%37.6%28.1%50.2%4.1%9.9%-1.1M-55.4M-1.7M0.804.57N/AN/A12,48210,029148,255287,027
2018-04-10$29.39$30.0039.4%14.3%37.6%25.7%49.9%2.7%10.7%-1.2M-60.8M-1.7M0.487.56N/AN/A12,1685,898150,006289,487
2018-04-11$29.05$30.0037.8%14.0%35.6%21.6%50.3%4.2%11.4%-1.4M-39.5M-1.7M0.596.13N/AN/A11,6666,860151,735289,815
2018-04-12$28.93$30.0040.7%14.2%35.2%29.1%50.2%4.2%11.3%-867.1K-33.1M-1.7M1.156.79N/AN/A11,84313,672155,067291,671
2018-04-13$28.22$30.0043.6%14.7%35.9%36.7%52.5%4.8%12.8%-1.5M24.4M-1.6M1.7011.46N/AN/A16,20027,596156,861297,670
2018-04-16$28.84$30.0047.4%14.4%36.8%46.5%50.4%4.2%-1.7%-2.8M-16.1M-1.6M1.554.17N/AN/A12,32519,158151,555300,941
2018-04-17$29.01$30.0047.3%13.9%36.6%46.3%49.0%3.4%-1.5%-2.7M-24.2M-1.6M1.229.77N/AN/A11,83214,389154,104301,554
2018-04-18$29.34$30.0051.0%14.6%36.5%55.8%50.5%4.2%-3.5%-1.6M-51.4M-1.6M0.677.76N/AN/A16,89111,324157,378302,528
2018-04-19$29.42$30.0051.4%14.9%36.4%56.9%52.6%4.5%-3.3%-755.7K-58.9M-1.6M1.1810.48N/AN/A11,19813,176160,372303,675
2018-04-20$29.87$30.0051.2%15.0%36.3%56.5%53.1%4.2%-3.1%7.1M-95.8M-1.6M0.746.22N/AN/A26,35919,425162,668306,197
2018-04-23$30.52$30.0048.6%14.6%33.6%49.5%51.7%3.7%-2.4%-169.7K-118.5M-1.5M1.074.91N/AN/A17,13418,305140,387280,650
2018-04-24$30.47$30.0050.2%15.3%33.1%53.9%53.7%3.9%-2.6%-394.5K-110.1M-1.6M1.296.83N/AN/A10,49913,503143,371289,571
2018-04-25$30.61$30.0052.9%16.2%33.0%60.8%57.0%5.4%-0.9%-89.2K-114.1M-1.6M2.839.40N/AN/A8,51724,141145,461290,738
2018-04-26$31.74$30.0049.8%15.5%31.8%52.7%54.7%4.2%-3.9%923.3K-172.3M-1.6M0.739.65N/AN/A21,21915,568148,334303,790
2018-04-27$32.07$30.0050.8%15.8%31.2%55.3%55.5%4.1%-4.4%3.6M-202.1M-1.7M1.243.65N/AN/A16,22620,144155,627306,755
2018-04-30$31.16$30.0051.4%16.9%32.0%56.9%59.0%4.2%-3.7%-1.3M-117.6M-1.7M1.217.92N/AN/A12,19314,708149,198309,035