M Options History — July 2018

In July 2018, M traded between $36.14 and $40.22. ATM implied volatility averaged 43.5%, placing in the 36.5% IV rank vs the trailing year. The 30-day expected move averaged 13.9%. IV traded above realized volatility by 13.0% (HV 20d: 30.6%). Max pain ranged from $36.00 to $38.00. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.68.

Notable Days

  • 2018-07-12: Highest Volume — 37,404 contracts
  • 2018-07-16: Largest IV spike — 13.1% change
  • 2018-07-26: Highest IV Rank — 49.5%
  • 2018-07-31: Largest Expected Move — 16.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.91$36.14$40.22$36.26$39.84
Max Pain$36.19$36.00$38.00$38.00$36.00
ATM IV43.5%35.7%48.5%40.7%48.5%
Expected Move13.9%11.1%16.3%11.4%16.3%
HV 20d30.6%22.2%42.5%42.5%22.2%
HV 60d40.7%40.1%41.1%41.0%40.3%
IV Rank36.5%16.1%49.5%29.1%49.4%
IV Percentile56.7%24.6%77.4%48.8%76.6%
Term Structure1.5%-2.7%13.8%0.2%-2.5%
VWIV49.1%39.5%58.0%40.0%58.0%
Skew 25d3.7%-8.9%14.3%2.5%3.9%
Skew 10d10.0%4.1%37.4%15.2%8.3%
Call IV 25d42.6%35.5%49.3%40.0%46.7%
Put IV 25d46.3%37.9%60.9%42.5%50.6%
Bid-Ask Spread %3.691.7912.013.222.83
Gamma HHI0.120.080.220.080.22
Net GEX1.9M-3.4M7.2M-254.7K6.4M
Net DEX-142.1M-282.1M-23.2M-32.2M-255.6M
Net VEX-1.6M-1.9M-1.4M-1.9M-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.291.570.620.74
Total Volume24,793.04816,18837,40430,42223,279
Total OI481,175.476394,747545,979496,337413,224

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2018-07-02$36.26$38.0040.7%11.4%42.5%29.1%40.0%2.5%0.2%-254.7K-32.2M-1.9M0.623.22N/AN/A18,83611,586194,228302,109
2018-07-03$37.13$38.0038.3%11.1%33.6%22.8%39.5%2.9%1.2%3.0M-97.0M-1.9M0.915.81N/AN/A14,42213,120199,920305,660
2018-07-05$36.71$36.0039.3%13.9%33.6%25.4%50.0%3.2%-0.9%1.2M-59.9M-1.9M0.925.39N/AN/A14,06712,890201,429307,548
2018-07-06$36.84$36.0036.9%13.7%33.6%19.3%48.6%3.3%1.9%1.5M-73.4M-1.8M0.572.64N/AN/A18,76510,689202,845308,713
2018-07-09$36.44$36.0038.9%13.8%33.7%24.5%49.1%4.0%9.1%-1.5M-34.3M-1.8M0.6912.01N/AN/A13,4129,203194,422306,403
2018-07-10$36.67$36.0035.7%13.8%33.9%16.1%49.0%-8.9%13.8%-118.9K-56.0M-1.7M0.615.06N/AN/A15,1089,165199,053309,065
2018-07-11$36.51$36.0036.6%13.2%33.6%18.6%46.6%1.7%9.5%-519.9K-44.8M-1.7M1.192.48N/AN/A11,12413,229202,542311,652
2018-07-12$36.14$36.0039.2%13.4%31.1%25.2%46.2%3.5%9.5%-1.0M-23.2M-1.7M1.572.76N/AN/A14,58222,822204,772310,802
2018-07-13$36.31$36.0039.8%13.4%30.0%26.7%46.8%2.9%12.5%-1.8M-37.0M-1.6M0.567.58N/AN/A19,55710,910209,093318,439
2018-07-16$36.93$36.0045.0%13.6%29.9%40.2%48.0%4.0%-2.1%-3.4M-69.2M-1.7M0.631.91N/AN/A11,1957,045200,607314,056
2018-07-17$37.10$36.0046.4%13.7%29.6%43.9%48.8%4.2%-2.2%-2.2M-88.2M-1.6M0.661.79N/AN/A13,4008,887204,489315,377
2018-07-18$37.55$36.0047.1%13.5%30.0%45.7%47.1%3.9%-1.8%-1.3M-122.7M-1.5M0.442.25N/AN/A24,88310,851205,374317,204
2018-07-19$38.99$36.0047.5%13.7%32.2%46.8%48.5%4.0%-2.1%6.4M-249.7M-1.6M0.642.21N/AN/A14,6929,348220,657323,081
2018-07-20$38.72$36.0047.8%13.9%32.2%47.5%50.4%4.7%-2.1%2.8M-227.6M-1.5M0.462.26N/AN/A15,3887,148222,143323,836
2018-07-23$39.36$36.0047.9%14.5%26.8%47.8%50.4%4.4%-2.2%2.8M-223.8M-1.5M0.362.49N/AN/A18,6236,708128,668266,079
2018-07-24$39.28$36.0047.8%14.5%26.6%47.6%50.5%4.5%-2.4%3.7M-229.1M-1.5M0.472.15N/AN/A13,0566,128136,559267,859
2018-07-25$40.03$36.0047.1%14.5%26.8%45.7%51.0%4.4%-2.3%4.8M-282.1M-1.4M0.294.89N/AN/A19,1015,532140,281270,092
2018-07-26$39.51$36.0048.5%15.1%27.3%49.5%53.2%14.3%-2.7%6.8M-254.8M-1.5M0.662.16N/AN/A11,3227,478145,849271,346
2018-07-27$39.49$36.0047.5%15.0%27.1%46.7%52.3%6.4%-1.7%7.2M-254.2M-1.5M0.783.31N/AN/A9,4817,434147,711272,731
2018-07-30$40.22$36.0047.6%15.9%25.5%47.1%56.1%4.7%-1.9%5.2M-269.6M-1.5M0.502.23N/AN/A10,7745,414137,943270,824
2018-07-31$39.84$36.0048.5%16.3%22.2%49.4%58.0%3.9%-2.5%6.4M-255.6M-1.4M0.742.83N/AN/A13,3429,937140,352272,872