M Options History — July 2021

In July 2021, M traded between $16.03 and $18.99. ATM implied volatility averaged 56.9%, placing in the 11.8% IV rank vs the trailing year. The 30-day expected move averaged 17.3%. IV traded above realized volatility by 6.9% (HV 20d: 50.0%). Max pain ranged from $17.50 to $18.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.52.

Notable Days

  • 2021-07-08: Highest Volume — 179,307 contracts
  • 2021-07-16: Largest IV spike — 15.4% change
  • 2021-07-27: Highest IV Rank — 20.0%
  • 2021-07-27: Largest Expected Move — 20.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.51$16.03$18.99$18.82$16.88
Max Pain$17.95$17.50$18.00$17.50$18.00
ATM IV56.9%43.7%65.8%49.7%62.6%
Expected Move17.3%12.2%20.2%13.0%19.4%
HV 20d50.0%37.1%58.0%41.2%57.8%
HV 60d54.2%51.3%56.5%51.5%53.5%
IV Rank11.8%0.0%20.0%2.3%17.1%
IV Percentile13.8%0.0%28.6%2.4%21.0%
Term Structure-0.8%-20.9%7.8%0.7%-3.1%
VWIV62.5%44.1%74.1%48.4%74.1%
Skew 25d-0.9%-4.0%7.2%-1.9%-2.2%
Skew 10d-2.6%-19.4%43.9%-4.5%9.5%
Call IV 25d59.7%46.8%74.0%50.3%70.8%
Put IV 25d58.8%44.6%74.5%48.4%68.6%
Bid-Ask Spread %7.022.5117.307.4311.97
Gamma HHI0.120.100.170.140.12
Net GEX5.4M1.2M8.9M7.2M6.1M
Net DEX-159.4M-298.1M-63.1M-239.1M-128.7M
Net VEX-1.5M-1.7M-1.3M-1.6M-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.520.131.660.551.43
Total Volume50,269.66720,863179,30729,23577,436
Total OI699,827.905627,464745,349681,518735,580

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-07-01$18.82$17.5049.7%13.0%41.2%2.3%48.4%-1.9%0.7%7.2M-239.1M-1.6M0.557.43N/AN/A18,85910,376440,930240,588
2021-07-02$18.62$17.5043.7%12.2%40.3%0.0%44.1%-2.1%-0.5%6.0M-213.0M-1.6M0.512.59N/AN/A20,99710,709446,623243,954
2021-07-06$18.21$18.0050.2%16.2%37.1%5.8%57.9%-1.4%0.7%5.3M-180.4M-1.5M0.782.51N/AN/A21,78017,024428,996237,929
2021-07-07$17.12$18.0049.9%16.9%42.7%5.5%60.2%-1.5%1.2%2.3M-92.3M-1.4M0.393.06N/AN/A43,78817,017434,080247,834
2021-07-08$17.32$18.0053.1%17.7%40.2%8.5%62.5%-2.4%5.0%2.8M-114.9M-1.5M0.138.31N/AN/A158,49420,813452,481256,714
2021-07-09$18.63$18.0049.5%16.8%48.1%5.2%59.9%-0.5%-1.4%8.6M-281.6M-1.7M0.293.33N/AN/A47,23013,763486,633258,716
2021-07-12$18.99$18.0050.1%16.8%47.8%5.8%59.6%7.2%7.8%8.9M-298.1M-1.6M0.203.09N/AN/A53,82910,946462,686244,696
2021-07-13$18.53$18.0051.5%16.9%46.8%7.0%59.7%-1.6%7.1%7.1M-229.3M-1.6M0.592.83N/AN/A13,5977,996442,385249,248
2021-07-14$18.10$18.0050.2%16.7%47.0%5.8%59.3%-1.9%7.8%5.9M-190.6M-1.5M0.433.15N/AN/A16,5427,125444,106251,362
2021-07-15$17.52$18.0056.1%17.0%48.0%11.2%60.5%3.6%5.2%3.6M-138.9M-1.4M0.513.51N/AN/A26,50713,605446,159252,149
2021-07-16$16.85$18.0064.7%16.9%48.8%19.0%60.8%0.7%-20.9%1.2M-78.0M-1.3M0.582.82N/AN/A26,19615,104454,348255,004
2021-07-19$16.03$18.0064.1%18.7%51.2%18.4%70.0%-0.8%-12.7%3.1M-63.1M-1.3M1.663.30N/AN/A29,93049,670397,904229,560
2021-07-20$16.91$18.0060.3%17.5%54.2%15.0%63.2%-0.7%-1.1%4.1M-107.6M-1.4M0.176.85N/AN/A58,2489,646409,025258,029
2021-07-21$17.59$18.0061.7%17.7%55.2%16.3%63.1%-1.7%-1.9%7.1M-181.7M-1.5M0.255.72N/AN/A30,8977,752438,134260,628
2021-07-22$16.88$18.0060.8%17.5%56.5%15.5%63.7%-1.9%-1.1%5.4M-131.6M-1.4M0.2715.30N/AN/A34,3479,441443,866268,091
2021-07-23$16.66$18.0061.7%18.0%54.8%16.3%66.4%-3.1%-5.0%4.9M-111.7M-1.4M0.4010.06N/AN/A34,68913,972459,498271,698
2021-07-26$17.45$18.0062.6%19.3%57.8%17.1%69.8%-3.7%-0.4%6.6M-171.3M-1.5M0.466.79N/AN/A27,41112,698432,609257,750
2021-07-27$16.96$18.0065.8%20.2%58.0%20.0%73.4%-4.0%-1.8%6.2M-147.6M-1.5M0.5416.81N/AN/A16,0198,595448,498263,058
2021-07-28$16.84$18.0064.7%19.1%57.8%19.0%70.5%4.3%0.2%6.1M-129.7M-1.4M0.3617.30N/AN/A16,0025,750450,979268,099
2021-07-29$16.80$18.0061.8%18.7%57.7%16.3%66.2%-2.5%-1.4%5.7M-117.9M-1.4M0.3610.76N/AN/A15,3015,562455,096270,663
2021-07-30$16.88$18.0062.6%19.4%57.8%17.1%74.1%-2.2%-3.1%6.1M-128.7M-1.4M1.4311.97N/AN/A31,86645,570463,025272,555