M Options History — May 2019

In May 2019, M traded between $20.47 and $23.48. ATM implied volatility averaged 42.5%, placing in the 42.7% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded above realized volatility by 18.6% (HV 20d: 23.9%). Max pain ranged from $21.50 to $25.00. Net GEX was positive for 3 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 0.72.

Notable Days

  • 2019-05-14: Highest Volume — 92,449 contracts
  • 2019-05-15: Largest IV drop — 32.1% change
  • 2019-05-13: Highest IV Rank — 86.7%
  • 2019-05-03: Largest Expected Move — 18.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.96$20.47$23.48$23.48$20.47
Max Pain$22.75$21.50$25.00$25.00$21.50
ATM IV42.5%33.0%55.8%48.2%36.4%
Expected Move12.3%9.4%18.2%17.0%10.9%
HV 20d23.9%20.1%31.7%31.7%20.3%
HV 60d27.2%26.8%28.0%27.3%26.8%
IV Rank42.7%11.1%86.7%61.5%22.4%
IV Percentile55.7%17.9%96.8%70.6%40.9%
Term Structure-1.5%-4.5%0.8%-2.7%-1.2%
VWIV43.1%32.7%64.2%58.6%37.9%
Skew 25d4.9%3.4%6.8%4.8%5.5%
Skew 10d8.8%5.9%11.8%8.4%10.2%
Call IV 25d39.9%31.0%52.2%45.4%34.4%
Put IV 25d44.8%35.1%58.6%50.2%39.9%
Bid-Ask Spread %3.812.619.283.523.28
Gamma HHI0.160.100.360.110.17
Net GEX-2.4M-5.4M1.3M-2.9M-2.8M
Net DEX114.0M76.9M161.7M98.2M123.0M
Net VEX-1.1M-1.2M-944.8K-1.1M-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.720.231.650.510.50
Total Volume34,806.90913,76492,44913,76436,902
Total OI328,937.182258,151419,218300,806343,423

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-05-01$23.48$25.0048.2%17.0%31.7%61.5%58.6%4.8%-2.7%-2.9M98.2M-1.1M0.513.52N/AN/A9,1364,628113,141187,665
2019-05-02$23.39$25.0049.5%18.2%31.7%66.0%64.2%4.6%-2.7%-3.0M100.7M-1.1M0.943.23N/AN/A10,4919,907115,766189,175
2019-05-03$23.26$25.0048.6%18.2%23.6%62.8%63.6%4.1%-2.8%-2.9M107.6M-1.1M0.592.68N/AN/A12,7167,451119,037192,074
2019-05-06$23.21$23.0050.4%13.2%23.3%68.8%46.3%4.8%-0.5%-2.8M100.0M-1.1M0.682.61N/AN/A19,39013,215113,882189,632
2019-05-07$22.70$23.0054.1%13.9%23.8%81.3%48.8%6.0%-1.7%-3.3M120.8M-1.1M0.643.17N/AN/A16,82610,846123,884196,961
2019-05-08$22.74$23.0052.7%13.7%23.3%76.5%48.5%4.5%-1.4%-3.1M111.2M-1.1M0.842.71N/AN/A11,5299,670132,396199,728
2019-05-09$22.76$23.0054.6%14.4%23.1%83.0%50.8%6.4%-2.1%-3.0M110.4M-1.1M1.602.89N/AN/A9,33314,949136,723201,339
2019-05-10$22.49$23.0053.1%14.1%22.8%77.8%48.0%5.3%-2.0%-5.1M124.4M-1.0M0.614.18N/AN/A16,1099,812138,389202,191
2019-05-13$21.62$23.0055.8%14.6%26.0%86.7%51.0%6.8%-4.5%-3.5M151.5M-957.1K0.943.39N/AN/A19,98418,732128,098194,858
2019-05-14$21.83$23.0053.4%14.2%25.8%78.9%49.8%6.0%-3.5%-3.3M144.2M-984.5K1.659.28N/AN/A34,87157,578135,981204,247
2019-05-15$21.71$23.0036.3%9.9%25.6%22.0%34.6%4.8%-3.0%-5.4M161.7M-949.4K0.604.20N/AN/A57,55534,747153,688233,079
2019-05-16$21.47$22.0034.4%9.9%24.6%15.8%33.7%3.4%0.8%-4.5M155.0M-944.8K0.805.34N/AN/A24,95620,038174,310232,165
2019-05-17$21.81$22.0033.0%9.4%25.6%11.1%32.7%3.9%-0.3%802.0K128.5M-953.1K0.995.57N/AN/A22,98022,647178,712240,506
2019-05-20$21.57$22.0034.4%9.8%24.6%15.9%33.5%5.0%-1.0%-594.7K95.7M-949.8K0.374.35N/AN/A14,5325,372108,861149,290
2019-05-21$21.77$22.0033.4%9.5%24.6%12.5%33.3%4.6%-0.0%269.4K83.0M-965.5K0.563.27N/AN/A17,6399,932116,255152,082
2019-05-22$21.80$22.0033.6%9.6%22.6%13.1%37.1%4.6%-0.5%1.3M76.9M-990.4K0.963.25N/AN/A32,35731,106122,694156,162
2019-05-23$21.26$22.0035.5%10.2%20.7%19.5%35.8%4.7%-0.4%-559.5K99.3M-1.1M0.234.29N/AN/A28,7956,495147,897180,806
2019-05-24$21.02$22.0033.6%9.7%20.5%13.0%33.5%4.0%-0.2%-2.9M110.5M-1.1M0.553.82N/AN/A20,45911,161159,209182,125
2019-05-28$21.05$22.0034.1%9.9%20.7%14.7%34.3%4.2%-0.7%-1.7M96.5M-1.2M0.353.31N/AN/A11,4314,004149,284175,338
2019-05-29$20.96$22.0035.3%10.6%20.1%18.6%36.5%4.7%-1.0%-1.3M98.7M-1.2M0.602.88N/AN/A9,8955,935153,773176,061
2019-05-30$20.72$22.0034.6%10.3%20.2%16.6%35.7%4.6%-0.7%-2.1M111.3M-1.1M0.382.66N/AN/A14,2405,401157,995177,736
2019-05-31$20.47$21.5036.4%10.9%20.3%22.4%37.9%5.5%-1.2%-2.8M123.0M-1.1M0.503.28N/AN/A24,67412,228163,903179,520