M Options History — December 2021

In December 2021, M traded between $23.49 and $27.98. ATM implied volatility averaged 61.5%, placing in the 16.1% IV rank vs the trailing year. The 30-day expected move averaged 17.7%. IV traded below realized volatility by 9.1% (HV 20d: 70.6%). Max pain ranged from $20.00 to $30.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.47.

Notable Days

  • 2021-12-28: Highest Volume — 86,789 contracts
  • 2021-12-21: Largest IV drop — 10.1% change
  • 2021-12-03: Highest IV Rank — 22.8%
  • 2021-12-03: Largest Expected Move — 20.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$26.04$23.49$27.98$27.41$26.32
Max Pain$22.70$20.00$30.00$30.00$23.00
ATM IV61.5%55.8%68.8%66.1%55.8%
Expected Move17.7%15.7%20.9%19.8%15.7%
HV 20d70.6%44.9%89.9%89.7%48.4%
HV 60d71.5%70.3%73.0%71.5%70.6%
IV Rank16.1%10.9%22.8%20.3%11.0%
IV Percentile44.7%28.6%75.0%62.3%29.0%
Term Structure0.4%-2.5%6.3%-0.5%0.5%
VWIV62.9%55.9%74.9%71.2%55.9%
Skew 25d1.7%0.2%3.4%3.4%0.7%
Skew 10d4.3%0.8%41.0%5.9%1.0%
Call IV 25d62.0%56.5%70.2%65.2%56.8%
Put IV 25d63.7%57.4%71.4%68.6%57.5%
Bid-Ask Spread %2.942.274.793.532.27
Gamma HHI0.090.060.130.130.12
Net GEX3.6M130.6K9.0M130.6K7.6M
Net DEX-123.4M-239.6M-24.7M-106.8M-183.4M
Net VEX-1.2M-1.3M-1.1M-1.2M-1.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.470.161.050.570.68
Total Volume55,701.77326,52086,78952,16049,678
Total OI494,777.955450,674527,696489,996527,696

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-12-01$27.41$30.0066.1%19.8%89.7%20.3%71.2%3.4%-0.5%130.6K-106.8M-1.2M0.573.53N/AN/A33,32518,835234,725255,271
2021-12-02$27.87$30.0064.1%19.7%86.4%18.5%69.3%3.0%0.1%868.4K-130.5M-1.3M0.963.63N/AN/A34,13132,648245,703260,641
2021-12-03$26.63$30.0068.8%20.9%87.5%22.8%74.9%3.3%3.8%1.1M-83.3M-1.3M0.483.99N/AN/A43,73420,965250,530260,025
2021-12-06$27.24$20.0063.4%19.0%87.7%17.8%67.3%1.1%6.3%2.5M-155.2M-1.3M0.514.79N/AN/A25,21312,741226,009240,529
2021-12-07$27.98$20.0063.7%18.4%88.5%18.1%65.1%2.1%2.2%3.4M-192.1M-1.3M0.373.26N/AN/A31,86911,816234,824245,567
2021-12-08$27.40$20.0060.9%17.7%88.7%15.5%62.5%0.8%2.3%3.2M-167.6M-1.2M0.472.58N/AN/A21,57410,177243,963248,928
2021-12-09$26.91$20.0060.8%17.5%88.3%15.4%61.9%1.0%-0.0%2.7M-141.4M-1.2M0.722.57N/AN/A15,38811,132249,060252,939
2021-12-10$26.68$20.0058.5%16.9%86.6%13.3%59.3%2.4%1.2%2.4M-124.7M-1.2M0.363.46N/AN/A35,71712,723250,847255,628
2021-12-13$24.97$20.0062.1%17.5%89.0%16.7%60.9%2.4%-1.3%1.6M-75.5M-1.2M0.252.56N/AN/A65,14016,210240,793245,191
2021-12-14$25.76$22.0062.4%17.6%89.9%16.9%62.7%0.2%-0.9%3.0M-87.4M-1.2M0.442.72N/AN/A33,83014,986241,781251,865
2021-12-15$25.20$22.0064.2%17.6%88.0%18.6%63.4%1.0%-2.5%2.2M-59.0M-1.2M0.702.77N/AN/A24,68417,300241,791254,791
2021-12-16$24.27$22.0063.0%17.8%87.7%17.5%64.8%2.0%-0.5%1.7M-26.5M-1.2M0.652.55N/AN/A19,45012,670245,881254,578
2021-12-17$24.53$22.0062.8%17.7%47.4%17.3%63.3%2.4%-1.6%2.1M-36.7M-1.2M1.053.88N/AN/A23,75624,934250,622257,320
2021-12-20$23.49$22.0067.9%19.2%44.9%21.9%68.3%2.1%-2.3%952.4K-24.7M-1.1M0.502.80N/AN/A43,88321,936208,015242,659
2021-12-21$24.64$22.0061.0%17.4%50.8%15.7%61.9%1.1%0.2%3.3M-90.9M-1.2M0.192.55N/AN/A61,65711,873227,055245,532
2021-12-22$24.87$22.0058.4%16.7%51.6%13.3%61.1%1.1%1.1%4.9M-109.4M-1.2M0.372.50N/AN/A27,11110,035239,204249,150
2021-12-23$25.23$22.0057.0%16.3%51.6%12.1%57.3%1.7%0.3%3.7M-130.7M-1.1M0.262.28N/AN/A46,32211,849242,279251,068
2021-12-27$25.71$22.0058.1%16.6%50.6%13.0%58.4%2.4%1.1%6.2M-146.9M-1.2M0.212.55N/AN/A62,84713,309236,529241,407
2021-12-28$26.14$22.5059.5%16.9%51.0%14.3%59.9%0.9%0.2%8.1M-179.0M-1.2M0.162.67N/AN/A74,56412,225251,769246,439
2021-12-29$26.94$23.0057.8%16.4%50.8%12.8%58.2%1.0%-0.4%8.9M-239.6M-1.2M0.192.28N/AN/A72,69613,627262,447250,112
2021-12-30$26.79$23.0055.8%15.9%48.6%10.9%56.3%0.2%0.4%9.0M-224.1M-1.2M0.272.49N/AN/A52,55414,325269,538254,414
2021-12-31$26.32$23.0055.8%15.7%48.4%11.0%55.9%0.7%0.5%7.6M-183.4M-1.2M0.682.27N/AN/A29,65420,024270,437257,259