M Options History — June 2020

In June 2020, M traded between $6.08 and $9.48. ATM implied volatility averaged 112.0%, placing in the 42.1% IV rank vs the trailing year. The 30-day expected move averaged 31.7%. IV traded below realized volatility by 15.4% (HV 20d: 127.4%). Max pain ranged from $6.00 to $8.00. Net GEX was positive for 19 of 22 trading days. Term structure was in contango for 6 of 22 days. Put/call ratio averaged 0.47.

Notable Days

  • 2020-06-09: Highest Volume — 302,726 contracts
  • 2020-06-11: Largest IV spike — 22.3% change
  • 2020-06-08: Highest IV Rank — 53.9%
  • 2020-06-11: Largest Expected Move — 35.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$7.37$6.08$9.48$6.36$6.89
Max Pain$7.64$6.00$8.00$6.00$8.00
ATM IV112.0%97.7%134.8%104.7%108.5%
Expected Move31.7%27.5%35.6%28.7%32.4%
HV 20d127.4%107.0%145.0%107.0%116.6%
HV 60d126.8%111.4%141.4%138.4%111.8%
IV Rank42.1%34.7%53.9%38.3%40.3%
IV Percentile81.0%74.2%94.0%80.6%76.2%
Term Structure-4.7%-30.2%6.8%-13.0%-3.5%
VWIV114.3%98.2%131.1%101.0%119.0%
Skew 25d0.3%-28.2%19.1%9.4%5.3%
Skew 10d-9.6%-101.2%27.5%-3.7%-101.2%
Call IV 25d114.9%93.6%152.0%100.7%101.9%
Put IV 25d115.2%107.2%133.8%110.1%107.2%
Bid-Ask Spread %4.073.0211.284.533.03
Gamma HHI0.110.070.240.110.09
Net GEX576.9K-331.2K1.5M211.2K804.1K
Net DEX15.0M-82.8M77.4M36.6M42.7M
Net VEX-847.6K-1.0M-612.2K-612.2K-821.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.470.221.200.310.69
Total Volume121,663.36453,854302,72653,85483,556
Total OI828,022.545632,728998,974632,728846,141

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-06-01$6.36$6.00104.7%28.7%107.0%38.3%101.0%9.4%-13.0%211.2K36.6M-612.2K0.314.53N/AN/A41,07212,782313,170319,558
2020-06-02$6.94$6.00111.5%30.2%110.0%41.9%107.3%10.9%-9.7%602.4K13.6M-683.4K0.333.87N/AN/A106,65435,221323,721322,358
2020-06-03$7.91$6.0097.7%29.5%116.9%34.7%103.5%16.2%5.6%1.1M-38.9M-806.1K0.243.97N/AN/A128,08830,915360,631343,286
2020-06-04$8.15$7.00100.6%27.5%115.3%36.2%102.5%19.1%-7.2%1.5M-51.8M-829.8K0.474.22N/AN/A106,05550,118373,527349,942
2020-06-05$8.76$7.00116.7%27.6%116.5%44.5%98.2%2.5%-10.0%738.4K-67.4M-873.8K0.224.53N/AN/A120,89927,187365,673352,346
2020-06-08$9.48$8.00134.8%35.5%118.0%53.9%124.7%-28.2%-13.8%950.3K-82.8M-1.0M0.2411.28N/AN/A188,28846,004352,363329,372
2020-06-09$8.94$8.00120.0%33.5%121.4%46.3%120.8%-26.5%-5.7%1.4M-65.3M-1.0M0.275.24N/AN/A239,05863,668410,360356,982
2020-06-10$8.07$8.00107.7%32.0%126.4%39.9%118.0%-2.1%6.8%937.3K-10.4M-975.4K0.603.24N/AN/A124,57074,715490,868390,760
2020-06-11$6.82$8.00131.8%35.6%143.2%52.4%131.1%-7.2%-6.3%128.8K55.7M-832.9K1.204.19N/AN/A107,393128,938518,617413,075
2020-06-12$7.27$8.00124.2%34.5%144.0%48.4%123.4%18.3%-6.2%443.9K31.0M-908.4K0.743.62N/AN/A61,06145,154551,354447,620
2020-06-15$7.16$8.00119.0%33.6%143.2%45.7%119.6%1.4%0.8%378.6K24.9M-881.4K0.594.18N/AN/A47,65728,318476,009415,155
2020-06-16$7.62$8.00115.2%32.9%144.2%43.8%116.3%0.3%-5.3%957.6K90.2K-948.1K0.333.38N/AN/A84,95428,439494,637420,167
2020-06-17$7.19$8.00112.2%32.2%144.5%42.2%115.5%-5.4%-1.8%486.2K29.2M-865.6K0.593.56N/AN/A47,89928,362504,894430,131
2020-06-18$7.28$8.00108.1%30.7%144.2%40.1%113.8%-3.8%5.0%457.9K29.9M-887.0K0.583.17N/AN/A44,01725,553518,944444,626
2020-06-19$7.01$8.00111.0%32.0%145.0%41.6%116.3%-2.5%-5.4%-331.2K43.1M-854.3K0.453.14N/AN/A57,70525,759531,155449,667
2020-06-22$7.08$8.00108.9%30.5%144.2%40.5%109.5%3.5%5.3%471.4K49.2M-849.1K0.283.40N/AN/A53,37715,081449,354348,219
2020-06-23$7.15$8.00110.1%32.2%131.4%41.1%115.7%-3.5%-1.1%682.0K39.8M-882.1K0.293.35N/AN/A50,23514,702464,262353,839
2020-06-24$6.82$8.00108.1%32.0%117.8%40.1%113.2%-4.1%-3.6%494.1K53.6M-827.3K0.583.02N/AN/A46,51726,937481,369358,167
2020-06-25$6.48$8.00102.9%31.4%117.0%37.3%112.7%-1.1%-5.8%-5.2K63.9M-777.5K0.413.43N/AN/A63,37426,273486,528367,885
2020-06-26$6.08$8.00103.5%31.4%116.0%37.7%116.7%-4.5%0.7%-133.8K77.4M-709.8K0.524.04N/AN/A39,88720,778505,145372,323
2020-06-29$6.59$8.00106.9%31.8%119.7%39.4%114.8%7.6%-30.2%372.1K55.5M-784.7K0.363.10N/AN/A58,22021,154457,157355,139
2020-06-30$6.89$8.00108.5%32.4%116.6%40.3%119.0%5.3%-3.5%804.1K42.7M-821.4K0.693.03N/AN/A49,46834,088481,797364,344