M Options History — April 2019

In April 2019, M traded between $23.62 and $25.94. ATM implied volatility averaged 39.6%, placing in the 32.9% IV rank vs the trailing year. The 30-day expected move averaged 13.3%. IV traded above realized volatility by 9.5% (HV 20d: 30.1%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.56.

Notable Days

  • 2019-04-04: Highest Volume — 47,800 contracts
  • 2019-04-15: Largest IV spike — 15.2% change
  • 2019-04-25: Highest IV Rank — 68.5%
  • 2019-04-30: Largest Expected Move — 16.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.71$23.62$25.94$24.44$23.62
Max Pain$25.00$25.00$25.00$25.00$25.00
ATM IV39.6%30.9%50.3%30.9%48.0%
Expected Move13.3%11.8%16.5%12.2%16.5%
HV 20d30.1%27.3%32.1%27.5%31.9%
HV 60d33.2%26.1%50.5%50.0%27.4%
IV Rank32.9%4.3%68.5%4.3%61.1%
IV Percentile40.2%4.0%79.0%4.0%69.8%
Term Structure1.7%-3.4%13.0%0.6%-1.9%
VWIV46.4%42.4%55.8%42.4%55.8%
Skew 25d3.5%2.3%4.9%2.3%4.4%
Skew 10d6.5%1.7%9.3%5.2%7.9%
Call IV 25d37.7%29.8%49.0%30.4%45.1%
Put IV 25d41.2%32.5%53.1%32.7%49.5%
Bid-Ask Spread %3.322.027.435.833.05
Gamma HHI0.160.090.720.110.10
Net GEX2.8M-2.5M19.7M2.1M-2.5M
Net DEX23.5M-80.4M91.9M24.9M91.9M
Net VEX-1.1M-1.2M-1.1M-1.1M-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.560.221.560.270.45
Total Volume22,995.33312,95547,80018,79414,829
Total OI310,700.333273,800341,852290,395296,916

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-04-01$24.44$25.0030.9%12.2%27.5%4.3%42.4%2.3%0.6%2.1M24.9M-1.1M0.275.83N/AN/A14,8333,961117,448172,947
2019-04-02$24.64$25.0031.8%12.0%27.7%7.1%43.2%2.8%0.6%3.5M5.7M-1.1M0.262.92N/AN/A20,4265,407125,306174,637
2019-04-03$24.57$25.0031.1%11.8%27.3%4.7%42.6%2.8%0.2%5.2M-2.5M-1.1M0.433.59N/AN/A12,1535,183133,530176,917
2019-04-04$25.94$25.0032.2%12.2%29.6%8.4%43.0%2.6%1.0%4.2M-80.4M-1.1M0.672.22N/AN/A28,69519,105132,616178,654
2019-04-05$25.55$25.0032.0%12.2%30.0%8.0%42.8%2.8%-0.2%2.0M-46.2M-1.2M0.452.76N/AN/A23,64010,595131,638186,963
2019-04-08$25.66$25.0032.2%12.3%29.1%8.6%43.1%2.6%10.8%2.8M-31.0M-1.1M0.602.02N/AN/A9,7215,878123,412181,711
2019-04-09$25.12$25.0032.4%12.4%30.3%9.2%42.9%2.9%10.9%2.8M-460.2K-1.1M0.842.40N/AN/A8,8947,470127,810184,444
2019-04-10$24.77$25.0032.0%12.4%30.8%7.9%42.7%2.9%11.2%1.5M24.1M-1.1M0.762.55N/AN/A9,9387,565129,178188,565
2019-04-11$24.34$25.0034.0%12.5%30.5%14.4%43.1%2.7%12.2%451.9K55.0M-1.1M0.962.18N/AN/A11,31610,823131,176191,105
2019-04-12$24.32$25.0036.0%12.7%30.6%21.1%44.0%2.7%13.0%969.3K62.2M-1.1M0.412.66N/AN/A23,1749,531134,141198,317
2019-04-15$24.62$25.0041.5%12.7%30.6%39.2%44.2%3.8%-1.4%3.1M33.5M-1.1M0.852.86N/AN/A7,0145,941130,622193,792
2019-04-16$24.63$25.0041.2%12.2%30.6%38.2%42.5%3.4%-1.2%4.0M36.9M-1.1M1.563.31N/AN/A6,1849,622132,630197,135
2019-04-17$24.97$25.0043.2%12.4%30.5%45.0%43.0%4.0%-1.4%6.0M12.6M-1.1M0.223.84N/AN/A23,7955,284133,394200,976
2019-04-18$25.06$25.0043.1%12.4%30.1%44.5%43.1%4.0%-1.7%19.7M-5.0M-1.1M0.312.82N/AN/A15,6514,869140,136201,716
2019-04-22$24.39$25.0046.6%14.1%29.9%56.1%49.0%4.0%-2.8%247.3K59.5M-1.1M0.684.11N/AN/A15,52410,511101,305172,495
2019-04-23$24.62$25.0047.3%14.5%29.0%58.8%50.5%3.9%-3.2%1.4M43.0M-1.1M0.553.16N/AN/A8,4834,645110,024179,740
2019-04-24$25.14$25.0048.2%15.0%29.7%61.7%52.8%4.7%-3.2%2.2M6.7M-1.1M0.297.43N/AN/A26,7797,714113,579181,598
2019-04-25$24.21$25.0050.3%16.1%32.1%68.5%55.3%4.1%-3.3%936.8K66.9M-1.1M0.463.24N/AN/A21,5109,804120,979183,831
2019-04-26$24.29$25.0048.9%15.5%32.1%64.0%53.7%4.3%-3.4%-1.1M64.9M-1.2M0.424.00N/AN/A15,7496,570130,585189,468
2019-04-29$24.09$25.0047.8%16.0%31.9%60.1%55.3%4.9%-2.1%-1.5M71.7M-1.1M0.362.74N/AN/A10,4113,705108,651184,620
2019-04-30$23.62$25.0048.0%16.5%31.9%61.1%55.8%4.4%-1.9%-2.5M91.9M-1.1M0.453.05N/AN/A10,2274,602111,081185,835