M Options History — July 2020

In July 2020, M traded between $6.08 and $7.22. ATM implied volatility averaged 95.3%, placing in the 31.7% IV rank vs the trailing year. The 30-day expected move averaged 26.8%. IV traded above realized volatility by 19.1% (HV 20d: 76.2%). Max pain ranged from $8.00 to $10.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.38.

Notable Days

  • 2020-07-07: Highest Volume — 239,644 contracts
  • 2020-07-14: Largest IV spike — 33.8% change
  • 2020-07-07: Highest IV Rank — 44.1%
  • 2020-07-07: Largest Expected Move — 30.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.60$6.08$7.22$6.60$6.08
Max Pain$9.82$8.00$10.00$8.00$10.00
ATM IV95.3%79.0%115.9%95.5%89.5%
Expected Move26.8%24.2%30.3%27.5%24.7%
HV 20d76.2%62.4%106.5%106.5%62.9%
HV 60d102.0%98.3%107.8%107.8%98.8%
IV Rank31.7%23.7%44.1%33.5%27.8%
IV Percentile68.1%61.9%83.3%69.4%62.3%
Term Structure12.3%-9.5%99.7%7.4%-5.9%
VWIV94.8%82.7%108.0%100.9%87.5%
Skew 25d6.2%-22.0%38.1%0.2%9.9%
Skew 10d2.3%-181.7%79.1%7.1%14.9%
Call IV 25d93.2%78.7%119.1%100.8%80.6%
Put IV 25d99.3%59.9%145.5%101.0%90.5%
Bid-Ask Spread %10.682.9237.263.894.46
Gamma HHI0.170.090.280.090.10
Net GEX753.5K28.6K2.1M602.1K28.6K
Net DEX65.3M34.1M85.5M60.2M85.5M
Net VEX-717.0K-828.1K-596.7K-772.3K-596.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.380.131.100.520.50
Total Volume65,364.518,126239,644118,42333,439
Total OI851,470.682734,337971,187877,578774,961

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-07-01$6.60$8.0095.5%27.5%106.5%33.5%100.9%0.2%7.4%602.1K60.2M-772.3K0.523.89N/AN/A77,84540,578494,789382,789
2020-07-02$6.73$8.0097.4%25.8%106.1%34.5%91.9%4.8%23.4%349.0K66.7M-763.0K0.474.89N/AN/A63,55729,760507,125395,743
2020-07-06$6.65$10.0098.0%28.4%101.6%34.8%102.6%-0.0%27.7%346.9K69.9M-746.4K0.3220.10N/AN/A53,80617,299469,019369,663
2020-07-07$6.62$10.00115.9%30.3%95.6%44.1%108.0%-12.5%99.7%482.0K63.8M-772.3K0.1312.22N/AN/A211,49028,154483,703376,829
2020-07-08$6.81$10.00104.5%28.4%95.7%38.1%104.3%10.1%18.5%1.3M47.3M-828.1K0.176.36N/AN/A80,44713,917548,956389,798
2020-07-09$6.64$10.0098.4%29.0%89.9%35.0%105.1%8.7%-1.8%1.2M54.4M-817.8K0.283.78N/AN/A56,92415,855570,623396,107
2020-07-10$6.78$10.00112.7%28.7%68.1%42.0%101.4%-17.3%35.5%1.2M50.6M-814.5K0.274.75N/AN/A45,82512,451574,100397,087
2020-07-13$6.56$10.0079.0%27.4%64.6%23.7%93.0%-22.0%35.1%976.8K69.7M-725.5K0.2331.02N/AN/A52,80612,071538,254379,916
2020-07-14$6.62$10.00105.8%28.6%64.7%36.6%101.4%38.1%-9.5%1.2M66.4M-736.1K0.2514.81N/AN/A26,8176,744541,652380,665
2020-07-15$7.22$10.0085.9%27.0%68.5%25.9%93.9%36.4%23.1%2.1M34.1M-814.7K0.294.05N/AN/A74,10621,756541,779382,205
2020-07-16$6.90$10.0098.8%26.8%67.2%32.8%92.8%3.7%-3.2%1.6M62.6M-760.2K0.233.84N/AN/A34,9787,990546,492392,109
2020-07-17$6.67$10.0090.8%25.4%67.9%28.5%90.7%4.8%-4.6%924.3K76.9M-714.4K0.5713.48N/AN/A32,59518,473551,717394,097
2020-07-20$6.43$10.0089.2%25.4%67.9%27.6%89.7%0.5%1.7%615.2K67.8M-654.4K0.3113.18N/AN/A34,68110,858426,711330,439
2020-07-21$6.82$10.0095.7%27.4%71.4%31.2%96.0%3.9%4.3%1.2M55.4M-725.8K0.308.00N/AN/A56,03616,717438,713336,784
2020-07-22$6.44$10.0089.2%25.6%73.8%27.7%93.3%1.1%-1.6%342.4K68.7M-674.0K0.4523.48N/AN/A37,54217,058450,311344,939
2020-07-23$6.66$10.0092.1%26.6%73.3%29.2%91.8%10.1%-4.7%713.7K65.3M-685.2K0.3612.01N/AN/A33,09912,074454,693351,498
2020-07-24$6.43$10.0090.5%25.9%72.1%28.3%90.2%6.9%1.6%230.3K75.0M-654.6K0.542.92N/AN/A19,89610,735458,114354,734
2020-07-27$6.22$10.0093.2%26.3%69.3%29.8%91.1%9.7%11.3%93.7K78.1M-613.8K0.323.22N/AN/A27,2548,755392,413341,924
2020-07-28$6.48$10.0090.2%24.7%64.5%28.2%86.3%13.4%6.2%347.2K69.8M-642.2K0.353.62N/AN/A20,4927,240403,110342,729
2020-07-29$6.55$10.0088.0%24.2%62.4%27.0%82.7%13.1%5.7%559.4K68.9M-640.7K1.1037.26N/AN/A17,99919,774408,536345,474
2020-07-30$6.24$10.0096.5%26.0%62.9%31.6%91.5%12.0%0.4%203.4K80.0M-621.8K0.403.55N/AN/A12,9235,203411,305359,750
2020-07-31$6.08$10.0089.5%24.7%62.9%27.8%87.5%9.9%-5.9%28.6K85.5M-596.7K0.504.46N/AN/A22,28911,150413,320361,641