M Options History — January 2019

In January 2019, M traded between $24.44 and $31.70. ATM implied volatility averaged 43.9%, placing in the 37.1% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded below realized volatility by 26.1% (HV 20d: 70.0%). Max pain ranged from $26.00 to $33.00. Net GEX was positive for 3 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 0.81.

Notable Days

  • 2019-01-14: Highest Volume — 183,227 contracts
  • 2019-01-28: Largest IV spike — 14.9% change
  • 2019-01-03: Highest IV Rank — 53.6%
  • 2019-01-02: Largest Expected Move — 16.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.72$24.44$31.70$30.62$26.09
Max Pain$29.33$26.00$33.00$31.00$28.00
ATM IV43.9%35.9%50.2%49.5%49.0%
Expected Move12.0%10.3%16.0%16.0%13.5%
HV 20d70.0%39.3%83.0%42.3%80.0%
HV 60d54.1%42.1%59.3%42.1%57.5%
IV Rank37.1%16.4%53.6%51.8%50.5%
IV Percentile53.2%26.2%72.2%70.6%69.4%
Term Structure0.8%-2.8%12.0%-1.8%-2.6%
VWIV42.2%36.9%54.2%54.2%46.3%
Skew 25d4.4%2.7%6.6%6.0%4.3%
Skew 10d8.4%3.9%17.2%11.0%5.5%
Call IV 25d41.9%34.9%47.8%46.5%47.2%
Put IV 25d46.3%37.7%54.2%52.4%51.4%
Bid-Ask Spread %3.661.517.735.122.60
Gamma HHI0.220.090.430.110.17
Net GEX-3.4M-12.0M6.0M-1.6M926.4K
Net DEX136.4M-71.9M361.0M54.2M41.8M
Net VEX-946.3K-1.1M-768.8K-1.1M-930.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.810.183.800.610.58
Total Volume44,6066,150183,22726,40418,369
Total OI412,942.429258,817561,867425,565269,692

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-01-02$30.62$31.0049.5%16.0%42.3%51.8%54.2%6.0%-1.8%-1.6M54.2M-1.1M0.615.12N/AN/A16,38410,020139,201286,364
2019-01-03$29.86$33.0050.2%13.7%39.3%53.6%48.3%6.6%-1.6%-2.3M97.8M-1.1M0.637.73N/AN/A15,4039,719147,988290,616
2019-01-04$29.27$33.0049.2%13.7%39.7%51.0%47.2%5.8%-1.6%-4.0M149.3M-1.0M0.806.39N/AN/A16,34513,048153,637295,288
2019-01-07$29.91$33.0047.4%13.1%40.8%46.3%45.1%4.9%-1.5%-3.0M96.2M-1.0M0.335.17N/AN/A6,2822,104147,479293,679
2019-01-08$30.88$33.0048.2%13.3%42.4%48.5%47.4%5.3%-1.4%-794.6K30.0M-1.0M0.186.94N/AN/A50,6019,237154,834295,250
2019-01-09$31.70$33.0046.9%12.9%43.5%45.1%45.0%5.6%-2.1%6.0M-71.9M-1.1M0.414.41N/AN/A25,24310,313192,086300,168
2019-01-10$25.97$33.0047.0%13.1%83.0%45.3%45.7%3.5%-1.4%-10.0M331.1M-770.1K1.213.79N/AN/A62,08775,185201,804305,397
2019-01-11$25.38$32.0040.7%11.8%82.6%28.9%40.6%3.7%0.6%-10.5M361.0M-810.1K0.711.93N/AN/A34,28424,402231,176328,408
2019-01-14$25.05$31.0041.4%11.9%81.5%30.8%44.2%4.5%-1.5%-10.2M314.5M-768.8K3.805.45N/AN/A38,145145,082179,471299,700
2019-01-15$24.95$30.0038.7%11.1%81.5%23.7%38.7%3.7%-1.1%-8.6M255.9M-902.1K1.773.28N/AN/A18,27632,348204,780327,801
2019-01-16$24.45$28.0038.4%11.0%81.6%22.9%37.9%3.9%-1.6%-12.0M287.9M-889.6K0.622.87N/AN/A25,23615,595209,048328,102
2019-01-17$24.73$27.0036.3%10.4%80.5%17.3%37.0%3.8%-0.3%-3.8M215.2M-916.4K0.532.86N/AN/A19,05610,168227,249327,912
2019-01-18$25.74$27.0035.9%10.3%82.3%16.4%36.9%4.1%-0.3%-2.5M86.4M-918.0K0.231.51N/AN/A86,27420,011230,670331,197
2019-01-22$24.78$27.0038.7%11.4%82.2%23.7%39.8%3.7%9.4%-459.4K108.3M-936.0K0.343.61N/AN/A19,6666,689119,782164,394
2019-01-23$24.71$27.0038.5%11.3%81.9%23.0%39.0%3.6%9.9%-1.4M114.4M-936.2K0.992.74N/AN/A9,1319,008127,550166,927
2019-01-24$24.44$26.0039.6%11.0%81.9%26.0%38.2%3.3%10.5%-4.3M132.4M-930.1K0.871.95N/AN/A11,80910,276129,864170,703
2019-01-25$25.51$26.0040.4%10.6%80.4%28.0%37.4%2.7%12.0%693.9K65.1M-963.9K0.412.35N/AN/A23,3069,512132,729170,841
2019-01-28$25.63$26.0046.4%11.0%80.5%43.7%39.2%4.5%-1.8%-1.9M67.5M-952.6K0.742.28N/AN/A3,5342,61693,935164,882
2019-01-29$25.77$26.0048.4%10.8%80.6%48.8%38.4%4.3%-2.6%-1.4M62.8M-958.0K0.501.85N/AN/A6,1853,10096,911167,426
2019-01-30$25.70$26.0050.0%10.8%80.6%53.0%38.8%5.3%-2.8%-1.1M63.6M-946.6K0.681.96N/AN/A7,5485,12998,983167,867
2019-01-31$26.09$28.0049.0%13.5%80.0%50.5%46.3%4.3%-2.6%926.4K41.8M-930.2K0.582.60N/AN/A11,6086,761100,980168,712