M Options History — December 2020

In December 2020, M traded between $10.12 and $12.03. ATM implied volatility averaged 71.6%, placing in the 16.3% IV rank vs the trailing year. The 30-day expected move averaged 20.9%. IV traded below realized volatility by 5.9% (HV 20d: 77.5%). Max pain ranged from $10.00 to $11.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.58.

Notable Days

  • 2020-12-30: Highest Volume — 163,329 contracts
  • 2020-12-21: Largest IV spike — 6.3% change
  • 2020-12-01: Highest IV Rank — 18.5%
  • 2020-12-02: Largest Expected Move — 22.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.06$10.12$12.03$10.45$11.31
Max Pain$10.91$10.00$11.00$10.00$11.00
ATM IV71.6%68.5%73.9%73.5%70.3%
Expected Move20.9%19.8%22.2%21.8%20.5%
HV 20d77.5%51.8%99.1%99.1%74.4%
HV 60d74.7%72.7%79.5%73.3%79.5%
IV Rank16.3%14.4%18.5%18.5%15.0%
IV Percentile26.1%19.4%31.7%31.7%20.2%
Term Structure0.6%-4.2%5.9%0.7%0.5%
VWIV74.1%69.5%80.0%77.0%71.7%
Skew 25d0.7%-4.5%9.2%-3.2%4.4%
Skew 10d2.9%-1.8%10.7%4.2%6.1%
Call IV 25d72.1%66.9%76.0%75.5%69.0%
Put IV 25d72.8%68.0%76.1%72.3%73.4%
Bid-Ask Spread %2.151.522.942.942.45
Gamma HHI0.150.110.270.110.14
Net GEX1.5M-307.7K3.8M883.6K1.8M
Net DEX-89.0M-159.7M-20.9M-60.3M-85.5M
Net VEX-961.6K-1.0M-882.0K-956.1K-935.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.111.420.480.51
Total Volume85,077.04544,920163,32944,92090,735
Total OI832,959.955782,651898,369805,108858,417

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-12-01$10.45$10.0073.5%21.8%99.1%18.5%77.0%-3.2%0.7%883.6K-60.3M-956.1K0.482.94N/AN/A30,27514,645417,735387,373
2020-12-02$10.98$10.0072.1%22.2%96.8%17.7%78.7%-1.5%0.5%1.6M-101.2M-985.5K0.612.84N/AN/A57,14735,056423,126390,977
2020-12-03$11.23$11.0071.2%21.2%92.4%17.3%76.6%-0.0%1.8%2.2M-126.2M-1.0M0.652.33N/AN/A58,46038,016438,899406,774
2020-12-04$11.73$11.0072.0%21.5%92.5%17.3%75.8%-4.5%1.9%1.7M-159.7M-1.0M0.491.81N/AN/A50,77324,849437,310418,082
2020-12-07$11.66$11.0073.9%20.8%93.4%18.3%74.5%0.4%-4.2%1.9M-133.1M-1.0M0.352.15N/AN/A60,33220,955417,555390,444
2020-12-08$11.55$11.0071.7%21.0%81.2%16.2%74.1%1.6%0.9%1.8M-123.5M-1.0M0.702.13N/AN/A32,34322,724426,312396,320
2020-12-09$11.70$11.0071.8%21.4%81.2%16.3%76.5%0.7%3.9%1.9M-135.7M-1.0M0.272.23N/AN/A38,91110,381432,196401,944
2020-12-10$11.72$11.0072.2%21.1%77.7%16.4%73.9%0.8%1.2%1.9M-136.3M-1.0M0.861.86N/AN/A28,25424,267435,019403,664
2020-12-11$11.07$11.0073.1%21.0%75.6%17.0%75.5%5.9%1.8%-28.3K-89.7M-980.9K1.102.15N/AN/A45,53150,195441,615414,549
2020-12-14$10.39$11.0073.0%21.2%80.1%16.9%75.6%-0.6%2.2%-307.7K-28.7M-931.1K0.411.92N/AN/A48,97820,039419,597414,973
2020-12-15$10.73$11.0070.7%20.4%76.9%15.6%71.8%-0.3%-0.7%291.0K-57.0M-948.0K1.361.52N/AN/A23,60231,984436,014418,437
2020-12-16$10.32$11.0071.0%20.4%72.9%15.8%71.4%-0.4%5.9%159.9K-28.2M-902.5K0.641.70N/AN/A41,30826,595442,458412,557
2020-12-17$10.45$11.0072.6%21.0%72.4%16.7%74.1%1.1%-3.7%389.4K-36.7M-944.5K0.111.98N/AN/A81,3098,696454,638417,666
2020-12-18$10.41$11.0068.5%19.8%72.4%14.4%69.5%-0.4%-0.9%1.9M-39.6M-922.9K0.441.71N/AN/A66,11229,351480,682417,687
2020-12-21$10.43$11.0072.8%21.0%71.9%16.8%73.3%9.2%1.6%1.9M-47.5M-915.6K0.312.19N/AN/A58,62818,083431,926352,654
2020-12-22$10.12$11.0072.6%21.7%51.8%16.7%80.0%2.3%0.9%1.0M-20.9M-882.0K1.422.05N/AN/A46,48365,794430,107353,709
2020-12-23$11.18$11.0068.6%20.5%61.8%14.5%72.5%1.0%-1.6%3.8M-110.0M-948.5K0.282.00N/AN/A88,47025,001433,034394,238
2020-12-24$10.68$11.0068.8%20.5%63.9%14.6%71.9%-1.1%2.0%1.4M-59.9M-919.9K0.362.13N/AN/A34,10512,204438,437399,811
2020-12-28$11.77$11.0070.9%19.8%72.6%15.7%70.8%-1.1%-2.8%2.6M-130.8M-921.3K0.562.24N/AN/A95,18453,082405,108377,543
2020-12-29$11.47$11.0071.8%21.1%70.8%16.1%74.2%0.1%-0.8%1.6M-97.3M-950.4K0.562.00N/AN/A63,98035,529417,429401,803
2020-12-30$12.03$11.0071.2%20.3%72.4%15.8%71.3%1.0%1.8%2.9M-150.9M-957.8K0.282.91N/AN/A127,12336,206431,557404,743
2020-12-31$11.31$11.0070.3%20.5%74.4%15.0%71.7%4.4%0.5%1.8M-85.5M-935.3K0.512.45N/AN/A59,98830,747459,370399,047