M Options History — November 2021

In November 2021, M traded between $28.45 and $37.27. ATM implied volatility averaged 64.3%, placing in the 18.7% IV rank vs the trailing year. The 30-day expected move averaged 18.5%. IV traded below realized volatility by 9.1% (HV 20d: 73.4%). Max pain ranged from $21.00 to $31.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.67.

Notable Days

2021-11-18: Highest Volume — 367,729 contracts
2021-11-23: Largest IV spike — 23.3% change
2021-11-23: Highest IV Rank — 23.9%
2021-11-03: Largest Expected Move — 21.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$31.33	$28.45	$37.27	$28.45	$28.61
Max Pain	$27.33	$21.00	$31.00	$21.00	$30.00
ATM IV	64.3%	55.0%	70.1%	61.3%	63.3%
Expected Move	18.5%	15.7%	21.9%	19.5%	18.9%
HV 20d	73.4%	44.6%	90.3%	69.1%	88.5%
HV 60d	65.3%	55.6%	70.9%	65.4%	70.9%
IV Rank	18.7%	10.2%	23.9%	15.9%	17.7%
IV Percentile	52.6%	26.6%	75.4%	38.5%	47.6%
Term Structure	-2.3%	-25.5%	2.4%	-3.4%	0.8%
VWIV	66.0%	56.7%	77.8%	69.7%	67.2%
Skew 25d	-2.5%	-11.0%	4.4%	4.4%	1.8%
Skew 10d	-4.2%	-9.7%	4.9%	1.2%	4.9%
Call IV 25d	66.5%	58.7%	72.5%	60.2%	63.1%
Put IV 25d	64.0%	49.7%	69.3%	64.6%	65.0%
Bid-Ask Spread %	5.16	2.87	16.61	3.29	2.87
Gamma HHI	0.10	0.07	0.14	0.11	0.09
Net GEX	4.9M	469.2K	10.0M	5.8M	469.2K
Net DEX	-523.7M	-1.07B	-161.0M	-470.0M	-161.0M
Net VEX	-1.2M	-1.3M	-1.0M	-1.1M	-1.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.18	2.09	0.56	0.56
Total Volume	81,928.381	25,826	367,729	79,479	52,910
Total OI	556,592.19	458,737	686,987	518,518	481,356

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2021-11-01	$28.45	$21.00	61.3%	19.5%	69.1%	15.9%	69.7%	4.4%	-3.4%	5.8M	-470.0M	-1.1M	0.56	3.29	N/A	N/A	50,866	28,613	250,331	268,187
2021-11-02	$28.65	$21.00	62.4%	20.5%	68.2%	16.9%	72.1%	-0.4%	-1.8%	5.1M	-473.6M	-1.2M	0.38	3.52	N/A	N/A	44,951	16,862	262,227	284,908
2021-11-03	$30.62	$21.00	66.7%	21.9%	70.7%	20.8%	77.8%	-4.5%	-1.0%	6.3M	-606.4M	-1.2M	0.33	3.97	N/A	N/A	102,764	34,262	271,943	291,934
2021-11-04	$30.77	$27.00	65.2%	18.0%	70.6%	19.4%	64.7%	-3.0%	-0.4%	5.9M	-608.8M	-1.2M	0.56	3.31	N/A	N/A	38,871	21,762	292,805	310,723
2021-11-05	$31.31	$27.00	65.8%	18.0%	70.6%	20.0%	64.4%	-1.9%	-0.9%	4.4M	-635.7M	-1.2M	0.53	3.17	N/A	N/A	31,008	16,534	295,464	315,606
2021-11-08	$31.05	$27.00	65.5%	18.2%	69.7%	19.7%	64.6%	-2.6%	-1.7%	4.3M	-564.2M	-1.2M	1.10	3.35	N/A	N/A	19,695	21,682	269,131	291,540
2021-11-09	$30.79	$27.00	64.6%	18.6%	70.3%	18.9%	66.0%	-1.8%	0.1%	2.9M	-535.9M	-1.2M	2.09	6.70	N/A	N/A	14,829	31,048	273,465	301,222
2021-11-10	$29.82	$27.00	66.6%	18.0%	72.0%	20.8%	65.9%	-0.9%	-2.4%	3.3M	-480.5M	-1.2M	0.81	10.37	N/A	N/A	14,260	11,566	273,824	296,093
2021-11-11	$31.06	$27.00	66.9%	18.5%	72.6%	21.0%	65.9%	-2.9%	-2.9%	3.2M	-566.7M	-1.2M	0.28	16.61	N/A	N/A	34,902	9,755	277,324	298,495
2021-11-12	$30.61	$27.00	68.5%	18.9%	72.1%	22.4%	68.1%	-4.0%	-1.7%	2.3M	-536.4M	-1.2M	0.39	14.54	N/A	N/A	34,014	13,191	289,584	300,926
2021-11-15	$30.98	$27.00	67.9%	19.2%	50.2%	21.9%	68.5%	-1.9%	-1.7%	5.9M	-568.0M	-1.1M	0.43	3.48	N/A	N/A	25,395	11,014	280,123	282,686
2021-11-16	$32.27	$27.00	69.3%	19.7%	44.6%	23.2%	69.6%	-3.9%	-2.2%	6.8M	-655.7M	-1.1M	0.18	3.14	N/A	N/A	69,246	12,771	289,723	285,943
2021-11-17	$30.88	$27.00	68.9%	19.8%	48.2%	22.8%	69.9%	-2.6%	-2.9%	7.8M	-588.4M	-1.2M	0.52	3.47	N/A	N/A	57,223	29,957	315,797	291,593
2021-11-18	$37.27	$28.00	62.0%	17.8%	79.8%	16.5%	64.2%	-4.3%	-1.0%	10.0M	-1.07B	-1.0M	0.40	3.69	N/A	N/A	263,149	104,580	343,003	300,190
2021-11-19	$34.81	$30.00	55.0%	15.7%	85.4%	10.2%	56.7%	-3.7%	0.1%	6.5M	-788.4M	-1.2M	0.99	3.79	N/A	N/A	72,882	72,234	349,751	337,236
2021-11-22	$33.97	$30.00	56.8%	16.5%	86.5%	11.9%	59.4%	-3.1%	-0.3%	5.4M	-440.2M	-1.2M	0.82	4.66	N/A	N/A	50,902	41,931	227,691	231,046
2021-11-23	$33.53	$31.00	70.1%	16.7%	86.0%	23.9%	60.5%	-2.2%	-25.5%	5.6M	-415.5M	-1.2M	0.91	3.28	N/A	N/A	26,010	23,701	240,518	243,902
2021-11-24	$32.17	$31.00	58.7%	17.0%	87.0%	13.5%	60.8%	-2.9%	-1.5%	3.9M	-338.9M	-1.2M	0.64	3.09	N/A	N/A	51,812	33,134	245,231	248,871
2021-11-26	$30.58	$31.00	65.8%	19.1%	89.6%	20.0%	68.1%	-0.9%	-0.2%	4.3M	-257.2M	-1.3M	0.84	4.31	N/A	N/A	39,810	33,345	258,984	253,192
2021-11-29	$29.83	$30.00	59.5%	17.6%	90.3%	14.3%	62.5%	-11.0%	2.4%	2.0M	-232.4M	-1.2M	0.67	3.65	N/A	N/A	34,162	22,893	225,960	239,908
2021-11-30	$28.61	$30.00	63.3%	18.9%	88.5%	17.7%	67.2%	1.8%	0.8%	469.2K	-161.0M	-1.2M	0.56	2.87	N/A	N/A	33,982	18,928	231,228	250,128