M Options History — February 2020

In February 2020, M traded between $12.97 and $17.41. ATM implied volatility averaged 55.7%, placing in the 58.8% IV rank vs the trailing year. The 30-day expected move averaged 15.7%. IV traded above realized volatility by 10.9% (HV 20d: 44.8%). Max pain ranged from $16.00 to $17.00. Net GEX was positive for 3 of 19 trading days. Term structure was in contango for 4 of 19 days. Put/call ratio averaged 1.36.

Notable Days

  • 2020-02-27: Highest Volume — 119,843 contracts
  • 2020-02-05: Largest IV drop — 21.0% change
  • 2020-02-28: Highest IV Rank — 93.2%
  • 2020-02-28: Largest Expected Move — 22.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.87$12.97$17.41$16.53$13.12
Max Pain$16.82$16.00$17.00$17.00$16.00
ATM IV55.7%48.4%70.8%66.4%70.8%
Expected Move15.7%11.3%22.2%17.1%22.2%
HV 20d44.8%37.6%56.0%39.7%56.0%
HV 60d40.7%35.9%43.3%41.5%42.7%
IV Rank58.8%42.3%93.2%83.2%93.2%
IV Percentile83.9%71.0%98.4%95.2%98.4%
Term Structure-2.8%-7.6%1.6%-3.1%-7.6%
VWIV54.8%40.3%80.6%59.3%80.6%
Skew 25d4.9%1.2%7.2%5.3%7.2%
Skew 10d7.3%1.6%14.1%1.6%14.1%
Call IV 25d52.6%45.3%65.9%62.5%65.9%
Put IV 25d57.5%50.7%73.2%67.8%73.2%
Bid-Ask Spread %12.453.2136.3614.1517.64
Gamma HHI0.150.110.180.120.16
Net GEX-1.7M-3.9M1.7M-1.3M-3.9M
Net DEX101.2M-22.0M242.0M60.6M242.0M
Net VEX-1.1M-1.2M-829.0K-1.2M-924.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.360.635.780.652.89
Total Volume46,938.68414,717119,84334,91568,812
Total OI563,596.474451,412612,781561,705602,856

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-02-03$16.53$17.0066.4%17.1%39.7%83.2%59.3%5.3%-3.1%-1.3M60.6M-1.2M0.6514.15N/AN/A21,17913,736248,293313,412
2020-02-04$16.52$17.0064.8%17.9%37.6%79.6%60.2%5.9%-4.1%-1.2M62.0M-1.2M0.693.21N/AN/A25,71317,637254,236319,771
2020-02-05$17.41$17.0051.2%11.3%40.5%48.5%40.3%4.8%1.6%1.7M-22.0M-1.2M0.715.40N/AN/A53,84337,988264,933331,881
2020-02-06$16.99$17.0051.0%14.2%40.0%48.2%49.0%3.4%1.0%1.4M12.8M-1.2M0.633.97N/AN/A15,82110,033278,367334,414
2020-02-07$16.44$17.0052.2%15.0%40.4%50.9%51.5%4.0%0.8%-3.7M78.7M-1.1M1.2614.55N/AN/A17,63822,262275,399328,390
2020-02-10$16.19$17.0054.8%15.0%40.6%56.8%51.4%5.1%-3.8%-2.3M95.8M-1.1M0.993.95N/AN/A13,81213,708246,288310,178
2020-02-11$16.30$17.0056.8%15.2%40.5%61.4%50.8%4.4%-3.6%-2.0M87.2M-1.1M1.894.69N/AN/A9,36017,654251,848316,009
2020-02-12$17.01$17.0054.2%14.7%43.8%55.4%51.4%4.6%-3.2%429.3K21.9M-1.2M0.778.79N/AN/A20,78516,090254,446323,025
2020-02-13$16.69$17.0055.8%15.0%43.5%59.0%50.7%1.8%-6.7%-134.4K54.4M-1.2M0.763.82N/AN/A8,3846,333261,939327,819
2020-02-14$16.66$17.0052.7%14.6%43.4%52.0%50.4%1.2%-4.4%-1.5M62.5M-1.1M0.815.04N/AN/A8,2016,603262,590329,159
2020-02-18$16.09$17.0054.8%15.6%44.8%56.8%53.3%5.8%-3.6%-2.4M107.8M-1.1M1.3216.94N/AN/A17,60723,215242,444314,560
2020-02-19$16.31$17.0052.1%14.9%44.1%50.7%51.8%5.6%-3.8%-1.9M93.8M-1.1M0.6317.06N/AN/A17,94411,371246,076323,332
2020-02-20$16.56$17.0052.3%15.1%44.2%51.0%52.9%4.5%-2.7%-1.1M70.8M-1.1M0.7625.01N/AN/A10,7938,254249,459328,589
2020-02-21$16.23$17.0053.9%15.8%44.6%54.8%54.2%4.7%-3.3%-1.7M99.5M-1.1M0.9510.67N/AN/A13,61012,957252,448330,216
2020-02-24$15.41$17.0055.5%16.9%47.7%58.4%57.8%5.7%-3.3%-2.3M127.8M-984.2K1.2411.15N/AN/A30,85538,263194,019257,393
2020-02-25$14.61$16.5048.4%14.7%50.4%42.3%51.7%5.5%0.7%-3.6M185.4M-892.4K2.3436.36N/AN/A31,51873,689208,967275,193
2020-02-26$13.56$16.0051.3%15.8%54.3%48.7%54.5%6.2%-0.3%-3.6M240.9M-860.5K0.8721.20N/AN/A30,17826,146214,794305,154
2020-02-27$12.97$16.0058.8%18.3%55.4%66.0%69.0%6.5%-2.8%-2.6M240.1M-829.0K5.7813.05N/AN/A17,684102,159226,420304,016
2020-02-28$13.12$16.0070.8%22.2%56.0%93.2%80.6%7.2%-7.6%-3.9M242.0M-924.7K2.8917.64N/AN/A17,70151,111230,634372,222