M Options History — May 2021

In May 2021, M traded between $16.02 and $19.22. ATM implied volatility averaged 61.8%, placing in the 6.0% IV rank vs the trailing year. The 30-day expected move averaged 17.3%. IV traded above realized volatility by 0.1% (HV 20d: 61.7%). Max pain ranged from $15.00 to $17.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 0.59.

Notable Days

  • 2021-05-18: Highest Volume — 113,799 contracts
  • 2021-05-18: Largest IV drop — 18.9% change
  • 2021-05-12: Highest IV Rank — 17.8%
  • 2021-05-05: Largest Expected Move — 21.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.92$16.02$19.22$17.98$18.30
Max Pain$16.30$15.00$17.00$15.00$17.00
ATM IV61.8%50.8%74.7%63.6%53.3%
Expected Move17.3%14.6%21.0%19.5%14.7%
HV 20d61.7%51.4%72.6%52.5%67.2%
HV 60d66.3%63.4%68.9%63.5%67.8%
IV Rank6.0%0.0%17.8%6.3%2.4%
IV Percentile8.7%0.0%40.5%2.8%0.8%
Term Structure-1.3%-8.3%4.5%-0.5%0.9%
VWIV62.8%52.2%76.2%70.0%54.3%
Skew 25d-2.3%-10.6%7.9%-4.9%-6.5%
Skew 10d-7.2%-23.0%7.6%0.9%-9.7%
Call IV 25d65.0%56.0%76.4%67.2%58.6%
Put IV 25d62.7%51.3%78.4%62.3%52.1%
Bid-Ask Spread %8.924.1225.186.337.57
Gamma HHI0.140.090.310.140.11
Net GEX3.8M1.4M7.1M4.8M1.6M
Net DEX-159.6M-252.6M-73.4M-203.7M-117.9M
Net VEX-1.1M-1.1M-1.0M-1.1M-1.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.590.291.710.350.35
Total Volume52,358.2524,391113,79970,46850,670
Total OI537,145.25412,028623,955524,044469,005

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-05-03$17.98$15.0063.6%19.5%52.5%6.3%70.0%-4.9%-0.5%4.8M-203.7M-1.1M0.356.33N/AN/A52,21518,253282,863241,181
2021-05-04$17.62$15.0066.3%20.6%52.9%9.1%73.7%-10.6%1.6%4.4M-177.8M-1.1M0.968.19N/AN/A16,47315,787289,480251,372
2021-05-05$17.32$15.0066.8%21.0%52.9%9.6%76.2%-2.3%0.2%4.3M-160.4M-1.1M0.296.60N/AN/A28,2088,284291,298254,326
2021-05-06$17.23$16.0066.0%17.6%52.9%8.8%64.3%1.8%-0.8%4.4M-153.9M-1.1M0.5425.18N/AN/A16,0238,638294,723256,865
2021-05-07$17.71$16.0063.0%16.7%52.2%5.6%59.3%-5.4%-0.4%4.8M-186.5M-1.1M0.684.99N/AN/A18,55712,660300,288260,505
2021-05-10$17.61$16.0064.4%17.4%51.7%7.1%61.4%-7.7%-3.6%4.3M-166.8M-1.1M0.4211.55N/AN/A29,28412,249285,645253,071
2021-05-11$17.20$16.0068.7%18.1%51.4%11.6%65.9%1.1%-7.1%3.6M-138.5M-1.1M0.4910.16N/AN/A20,3789,889288,006258,178
2021-05-12$16.45$16.0074.7%19.1%53.6%17.8%68.9%7.9%-5.3%2.8M-101.5M-1.0M0.6916.46N/AN/A16,37411,274293,172260,066
2021-05-13$16.02$16.0070.4%19.5%54.3%13.3%71.1%7.5%0.4%2.1M-73.4M-1.0M1.7121.47N/AN/A26,13644,814296,920264,952
2021-05-14$18.09$16.0068.6%18.3%69.9%11.4%64.6%-4.1%-6.8%5.7M-204.7M-1.1M0.5112.13N/AN/A65,53933,742303,477286,201
2021-05-17$19.22$16.0070.3%19.5%72.6%13.2%69.3%-1.3%-0.3%5.0M-252.6M-1.1M0.446.44N/AN/A72,59531,620289,516283,842
2021-05-18$19.18$17.0057.0%16.3%69.7%0.0%59.2%-0.4%1.8%7.1M-250.6M-1.1M0.654.12N/AN/A68,92744,872299,011295,679
2021-05-19$18.77$17.0059.7%17.1%69.2%2.8%61.5%-1.2%0.1%5.4M-202.2M-1.0M0.774.95N/AN/A38,81829,736295,830304,714
2021-05-20$18.05$17.0057.0%16.4%70.8%0.0%59.1%-2.7%-4.9%4.4M-148.4M-1.1M0.435.32N/AN/A45,31419,447307,100309,454
2021-05-21$18.23$17.0055.2%15.7%70.7%0.0%56.6%-2.3%0.8%2.1M-171.0M-1.0M0.455.68N/AN/A22,79110,246308,043315,912
2021-05-24$17.97$17.0054.9%15.0%70.0%0.0%61.4%-2.7%-8.3%1.4M-97.5M-1.0M0.504.50N/AN/A29,26514,570193,145218,883
2021-05-25$18.04$17.0053.4%14.7%66.9%0.0%54.1%-3.1%1.5%1.8M-102.0M-1.0M0.454.37N/AN/A29,98413,617205,814227,145
2021-05-26$18.46$17.0052.6%14.6%66.7%0.0%52.7%-4.4%4.5%2.5M-126.7M-1.0M0.467.05N/AN/A16,6607,731217,229234,304
2021-05-27$18.86$17.0050.8%14.6%66.4%0.0%52.2%-4.7%0.9%3.6M-155.6M-1.1M0.655.35N/AN/A21,50714,018220,985234,705
2021-05-28$18.30$17.0053.3%14.7%67.2%2.4%54.3%-6.5%0.9%1.6M-117.9M-1.0M0.357.57N/AN/A37,55713,113228,533240,472