M Options History — May 2018

In May 2018, M traded between $29.43 and $35.46. ATM implied volatility averaged 42.5%, placing in the 33.9% IV rank vs the trailing year. The 30-day expected move averaged 12.4%. IV traded above realized volatility by 3.1% (HV 20d: 39.5%). Max pain ranged from $30.00 to $32.50. Net GEX was positive for 9 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 1.37.

Notable Days

  • 2018-05-16: Highest Volume — 151,490 contracts
  • 2018-05-16: Largest IV drop — 27.2% change
  • 2018-05-10: Highest IV Rank — 60.2%
  • 2018-05-02: Largest Expected Move — 17.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$32.22$29.43$35.46$30.78$34.89
Max Pain$31.43$30.00$32.50$30.00$32.50
ATM IV42.5%32.6%52.7%50.2%33.8%
Expected Move12.4%9.5%17.3%16.8%10.2%
HV 20d39.5%25.9%51.3%32.5%49.3%
HV 60d36.7%33.4%40.4%35.6%38.9%
IV Rank33.9%8.2%60.2%53.7%11.2%
IV Percentile53.1%13.9%90.5%84.1%17.5%
Term Structure-1.2%-4.0%-0.0%-2.4%-0.9%
VWIV43.7%33.4%60.3%59.5%36.4%
Skew 25d3.9%2.4%5.9%5.1%3.5%
Skew 10d7.0%3.1%9.6%3.9%4.4%
Call IV 25d40.6%30.8%50.7%47.9%32.8%
Put IV 25d44.5%34.6%55.1%52.9%36.3%
Bid-Ask Spread %8.083.7015.917.597.26
Gamma HHI0.110.060.350.100.12
Net GEX703.5K-4.5M10.2M-2.1M4.3M
Net DEX-160.7M-481.0M-17.7M-90.3M-184.3M
Net VEX-1.6M-1.9M-1.2M-1.7M-1.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.370.373.662.121.82
Total Volume49,425.77317,256151,49025,70029,315
Total OI479,409.682373,243612,316465,068480,148

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-05-01$30.78$30.0050.2%16.8%32.5%53.7%59.5%5.1%-2.4%-2.1M-90.3M-1.7M2.127.59N/AN/A8,23917,461151,935313,133
2018-05-02$31.33$30.0050.7%17.3%30.8%55.2%60.3%2.8%-3.8%-1.1M-129.9M-1.6M1.749.70N/AN/A7,17712,504154,138319,505
2018-05-03$31.42$31.0049.4%13.8%29.3%51.8%48.0%2.4%-4.0%-723.2K-138.1M-1.6M2.6211.07N/AN/A8,63222,627156,047320,193
2018-05-04$31.34$31.0048.3%13.4%25.9%48.8%47.2%3.0%-1.6%-1.4M-136.8M-1.6M3.6611.05N/AN/A8,41030,788157,970316,249
2018-05-07$30.00$32.0047.9%13.4%29.9%47.7%46.8%3.3%-0.7%-2.9M-53.8M-1.6M1.948.78N/AN/A14,44128,039148,567306,690
2018-05-08$29.74$31.0049.7%13.8%30.1%52.5%48.6%2.6%-1.0%-4.5M-29.9M-1.6M1.477.41N/AN/A14,78821,783153,197320,869
2018-05-09$30.07$31.0050.7%14.5%30.0%55.1%50.6%4.3%-0.7%-3.7M-57.3M-1.6M0.846.11N/AN/A14,22611,951157,699325,226
2018-05-10$29.43$31.0052.7%14.9%31.0%60.2%52.2%5.9%-0.0%-4.5M-17.7M-1.6M0.5811.08N/AN/A52,45130,277164,197327,578
2018-05-11$29.59$31.0051.1%14.4%29.5%56.1%50.3%4.1%-1.5%-4.0M-58.4M-1.7M1.648.58N/AN/A14,10323,063196,757336,276
2018-05-14$29.69$31.0051.6%14.6%28.6%57.5%51.6%4.4%-2.3%-382.1K-71.2M-1.6M1.045.25N/AN/A15,36616,030185,131324,665
2018-05-15$29.86$31.0051.5%14.7%28.6%57.2%50.8%4.5%-1.4%-279.8K-82.7M-1.6M0.9215.91N/AN/A42,31538,934189,610331,647
2018-05-16$33.34$31.0037.5%10.7%48.1%20.8%38.9%4.2%-1.0%10.2M-445.9M-1.2M0.7412.32N/AN/A87,29464,196205,496350,045
2018-05-17$33.82$31.0037.5%10.7%48.1%20.7%37.7%4.3%-1.1%9.7M-481.0M-1.4M0.7710.29N/AN/A51,93139,956223,381372,534
2018-05-18$33.98$32.0035.2%10.1%48.0%14.9%35.1%4.0%-0.5%9.4M-471.6M-1.5M0.683.95N/AN/A40,51127,619226,529385,787
2018-05-21$34.62$32.0035.0%10.0%47.9%14.2%34.9%4.5%-0.7%2.4M-201.9M-1.4M2.514.71N/AN/A16,74642,081132,332240,911
2018-05-22$33.11$32.0035.1%10.2%51.2%14.6%35.7%4.4%-1.3%-1.6M-74.3M-1.6M0.946.89N/AN/A31,06829,254136,275266,850
2018-05-23$33.53$32.0034.1%9.9%51.3%11.9%34.5%3.6%-0.1%-146.1K-117.5M-1.7M0.703.99N/AN/A11,5478,047155,307273,682
2018-05-24$34.11$32.0032.6%9.5%50.2%8.2%33.4%3.8%-0.1%2.5M-168.0M-1.6M0.773.70N/AN/A12,6449,743159,052274,279
2018-05-25$34.09$32.0033.1%9.7%50.1%9.5%35.3%3.4%-0.1%218.8K-144.8M-1.7M1.244.02N/AN/A10,92113,487160,650287,021
2018-05-29$34.73$32.5034.3%10.4%48.9%12.4%37.6%4.0%-0.9%1.3M-164.8M-1.7M1.109.64N/AN/A8,2039,053150,422277,567
2018-05-30$35.46$32.5034.0%10.3%48.7%11.7%36.0%3.5%-0.9%2.7M-215.7M-1.6M0.378.52N/AN/A65,75624,390151,670279,796
2018-05-31$34.89$32.5033.8%10.2%49.3%11.2%36.4%3.5%-0.9%4.3M-184.3M-1.9M1.827.26N/AN/A10,40118,914187,750292,398