M Options History — December 2019

In December 2019, M traded between $14.88 and $17.01. ATM implied volatility averaged 43.9%, placing in the 32.0% IV rank vs the trailing year. The 30-day expected move averaged 13.2%. IV traded above realized volatility by 0.9% (HV 20d: 43.0%). Max pain ranged from $16.00 to $17.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.54.

Notable Days

  • 2019-12-18: Highest Volume — 129,703 contracts
  • 2019-12-09: Largest IV spike — 11.0% change
  • 2019-12-11: Highest IV Rank — 41.6%
  • 2019-12-03: Largest Expected Move — 13.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.85$14.88$17.01$15.43$17.01
Max Pain$16.29$16.00$17.00$16.00$16.00
ATM IV43.9%39.5%48.1%42.5%42.7%
Expected Move13.2%12.4%13.9%13.6%13.5%
HV 20d43.0%30.1%55.3%54.4%31.6%
HV 60d42.4%40.8%45.6%45.6%41.0%
IV Rank32.0%21.9%41.6%28.7%29.3%
IV Percentile51.8%36.1%69.4%47.2%47.6%
Term Structure1.7%-3.4%9.1%6.5%7.2%
VWIV46.3%43.0%48.9%47.2%47.9%
Skew 25d2.0%0.2%4.3%0.2%2.4%
Skew 10d3.1%-1.4%7.0%-1.2%4.3%
Call IV 25d43.2%37.0%47.5%42.7%41.8%
Put IV 25d45.3%38.5%50.6%42.9%44.3%
Bid-Ask Spread %3.041.587.023.042.19
Gamma HHI0.210.150.310.150.17
Net GEX2.2M-1.5M6.3M-1.5M4.6M
Net DEX76.1M-49.3M182.3M141.7M-49.3M
Net VEX-1.2M-1.2M-1.1M-1.2M-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.540.211.160.210.97
Total Volume51,124.3339,786129,703106,50241,279
Total OI685,074.619618,278747,007664,767632,693

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2019-12-02$15.43$16.0042.5%13.6%54.4%28.7%47.2%0.2%6.5%-1.5M141.7M-1.2M0.213.04N/AN/A88,29118,211299,977364,790
2019-12-03$14.89$16.0043.7%13.9%55.3%31.6%48.2%0.6%6.2%-936.5K177.7M-1.1M0.402.93N/AN/A45,38118,321339,967371,841
2019-12-04$14.88$16.0039.5%12.9%51.4%21.9%44.5%0.9%8.8%-595.9K182.3M-1.1M0.282.50N/AN/A28,0627,958356,732382,690
2019-12-05$15.18$17.0040.4%13.7%50.2%24.0%48.0%1.7%8.5%3.4M148.7M-1.1M0.731.64N/AN/A27,34319,908360,284386,723
2019-12-06$15.14$17.0040.4%13.5%49.9%24.0%47.2%1.4%9.1%-770.4K151.6M-1.1M0.433.53N/AN/A33,70114,531358,382384,192
2019-12-09$15.45$17.0044.9%13.7%50.1%34.2%47.4%1.7%0.9%348.1K129.4M-1.1M0.782.29N/AN/A45,68635,629312,892371,963
2019-12-10$15.72$17.0044.7%13.0%50.1%33.7%45.5%2.0%-0.6%3.8M87.5M-1.1M0.751.58N/AN/A23,86217,881323,089372,187
2019-12-11$15.73$17.0048.1%13.4%50.1%41.6%45.4%2.0%-1.1%6.2M86.0M-1.1M0.212.40N/AN/A68,92014,570330,849381,486
2019-12-12$15.73$17.0046.8%13.2%50.1%38.5%46.7%4.3%-1.2%1.2M105.6M-1.2M0.443.00N/AN/A28,65512,613310,452386,969
2019-12-13$15.22$16.0045.1%12.8%50.9%34.6%44.7%2.7%-0.7%-1.1M149.6M-1.1M0.743.13N/AN/A22,18316,404312,658381,248
2019-12-16$15.61$16.0043.7%12.4%50.5%31.6%43.8%2.8%-0.9%426.9K106.0M-1.1M0.573.81N/AN/A24,72614,120300,355364,693
2019-12-17$16.05$16.0046.1%13.2%51.7%37.0%46.4%3.5%-0.5%2.6M49.3M-1.2M0.517.02N/AN/A33,25016,846310,756365,132
2019-12-18$16.56$16.0048.1%13.8%33.7%41.5%48.8%3.5%-2.1%2.8M-7.6M-1.2M0.502.75N/AN/A86,18743,516318,783369,103
2019-12-19$16.10$16.0046.4%13.4%35.7%37.6%46.4%1.5%-2.0%3.5M39.1M-1.2M0.392.70N/AN/A31,11312,170340,349379,826
2019-12-20$16.12$16.0044.2%13.0%34.2%32.6%44.9%1.8%-3.4%4.1M29.4M-1.2M0.384.12N/AN/A22,1968,495350,074382,734
2019-12-23$16.19$16.0043.0%12.7%30.1%29.8%44.4%2.0%-1.0%2.7M43.8M-1.2M1.162.44N/AN/A14,96417,427316,884325,355
2019-12-24$16.10$16.0043.1%12.4%30.1%30.0%43.0%1.4%-2.1%2.4M54.2M-1.2M0.293.22N/AN/A7,5882,198319,946322,224
2019-12-26$16.53$16.0043.6%13.1%31.0%31.4%46.3%2.8%-1.3%4.0M-4.5M-1.2M0.314.97N/AN/A21,4576,571321,253316,433
2019-12-27$16.46$16.0042.4%13.0%31.2%28.5%46.3%2.3%-0.8%6.3M3.6M-1.2M0.792.54N/AN/A19,63615,547323,833318,492
2019-12-30$16.81$16.0043.3%13.8%31.5%30.5%48.9%1.5%6.1%3.5M-25.9M-1.2M0.422.07N/AN/A32,48113,734312,998305,280
2019-12-31$17.01$16.0042.7%13.5%31.6%29.3%47.9%2.4%7.2%4.6M-49.3M-1.2M0.972.19N/AN/A20,91220,367320,981311,712