M Options History — February 2022

In February 2022, M traded between $23.23 and $27.09. ATM implied volatility averaged 71.6%, placing in the 63.1% IV rank vs the trailing year. The 30-day expected move averaged 20.2%. IV traded above realized volatility by 3.0% (HV 20d: 68.6%). Max pain ranged from $26.00 to $26.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 0.53.

Notable Days

2022-02-22: Highest Volume — 185,316 contracts
2022-02-22: Largest IV drop — 16.2% change
2022-02-18: Highest IV Rank — 93.4%
2022-02-18: Largest Expected Move — 23.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.52	$23.23	$27.09	$26.20	$25.84
Max Pain	$26.00	$26.00	$26.00	$26.00	$26.00
ATM IV	71.6%	59.3%	80.8%	69.6%	63.2%
Expected Move	20.2%	16.9%	23.6%	17.5%	18.6%
HV 20d	68.6%	45.8%	77.2%	77.2%	58.4%
HV 60d	66.3%	58.8%	72.0%	71.8%	61.7%
IV Rank	63.1%	28.0%	93.4%	28.0%	52.7%
IV Percentile	85.1%	42.5%	99.6%	86.5%	59.1%
Term Structure	-2.2%	-5.5%	0.9%	-2.7%	-1.2%
VWIV	70.9%	59.5%	83.9%	62.1%	64.9%
Skew 25d	3.9%	1.3%	5.9%	3.7%	5.7%
Skew 10d	8.5%	4.6%	12.8%	8.9%	12.8%
Call IV 25d	71.0%	58.4%	83.0%	68.8%	61.8%
Put IV 25d	74.9%	64.3%	85.4%	72.5%	67.5%
Bid-Ask Spread %	3.33	2.48	4.27	3.04	4.27
Gamma HHI	0.09	0.06	0.16	0.07	0.08
Net GEX	3.0M	436.4K	7.7M	2.3M	3.1M
Net DEX	-66.8M	-134.4M	28.7M	-81.9M	-72.2M
Net VEX	-1.0M	-1.1M	-927.8K	-1.1M	-1.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.53	0.23	0.75	0.68	0.64
Total Volume	55,281.474	17,660	185,316	22,952	28,565
Total OI	361,286.316	323,766	431,260	327,728	337,207

Daily Data (19 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
2022-02-01	$26.20	$26.00	69.6%	17.5%	77.2%	28.0%	62.1%	3.7%	-2.7%	2.3M	-81.9M	-1.1M	0.68	3.04	N/A	N/A	13,631	9,321	164,962	162,766
2022-02-02	$25.31	$26.00	70.9%	17.6%	77.2%	38.4%	62.8%	3.3%	-3.4%	1.6M	-44.6M	-1.0M	0.49	2.73	N/A	N/A	21,186	10,419	168,114	164,591
2022-02-03	$25.11	$26.00	72.8%	20.4%	74.4%	58.1%	70.4%	3.5%	-4.3%	1.5M	-37.0M	-1.0M	0.56	2.48	N/A	N/A	17,552	9,841	172,717	168,449
2022-02-04	$25.49	$26.00	71.2%	19.7%	74.5%	55.1%	68.6%	3.8%	-1.3%	1.9M	-49.4M	-1.1M	0.75	3.31	N/A	N/A	17,405	13,069	179,066	170,443
2022-02-07	$25.63	$26.00	72.0%	20.2%	74.4%	56.8%	70.5%	4.4%	-0.2%	2.0M	-59.4M	-1.0M	0.74	3.27	N/A	N/A	10,145	7,515	164,349	159,417
2022-02-08	$26.21	$26.00	71.7%	20.2%	73.5%	56.1%	70.1%	4.3%	-1.3%	2.8M	-86.3M	-1.0M	0.39	2.55	N/A	N/A	25,739	9,949	168,333	161,579
2022-02-09	$27.09	$26.00	72.7%	20.0%	72.0%	58.1%	70.1%	3.1%	-4.3%	4.3M	-134.4M	-1.1M	0.38	2.65	N/A	N/A	20,314	7,635	178,637	164,240
2022-02-10	$26.42	$26.00	72.4%	20.3%	72.5%	57.7%	71.4%	2.9%	-2.8%	4.0M	-109.1M	-1.1M	0.60	3.29	N/A	N/A	21,327	12,852	187,471	165,498
2022-02-11	$25.45	$26.00	77.2%	21.7%	73.5%	84.3%	74.7%	4.3%	-2.8%	1.6M	-52.7M	-1.1M	0.48	3.17	N/A	N/A	31,126	15,071	191,645	170,434
2022-02-14	$24.54	$26.00	78.6%	22.4%	73.7%	87.8%	78.0%	4.2%	-3.1%	1.8M	-29.5M	-1.0M	0.45	3.84	N/A	N/A	28,011	12,601	190,907	161,962
2022-02-15	$25.27	$26.00	75.1%	21.4%	74.0%	79.1%	74.6%	5.3%	-2.6%	2.7M	-56.0M	-1.0M	0.55	2.77	N/A	N/A	14,532	7,984	195,819	162,009
2022-02-16	$26.09	$26.00	77.0%	22.1%	74.8%	84.0%	79.1%	1.3%	-2.2%	4.2M	-97.5M	-1.0M	0.23	4.08	N/A	N/A	90,835	21,239	196,590	164,237
2022-02-17	$25.24	$26.00	78.8%	22.8%	73.1%	88.5%	80.4%	4.1%	-3.8%	3.2M	-62.3M	-1.1M	0.59	3.90	N/A	N/A	44,176	26,128	234,918	171,914
2022-02-18	$25.82	$26.00	80.8%	23.6%	71.1%	93.4%	83.9%	2.4%	-5.5%	5.3M	-107.9M	-1.1M	0.50	4.07	N/A	N/A	69,322	34,765	249,808	181,452
2022-02-22	$24.42	$26.00	67.6%	20.4%	45.8%	64.6%	73.0%	2.8%	0.7%	2.6M	-33.9M	-983.1K	0.32	4.07	N/A	N/A	140,375	44,941	209,245	151,195
2022-02-23	$23.23	$26.00	65.4%	19.6%	48.4%	58.5%	68.4%	3.1%	0.9%	436.4K	28.7M	-927.8K	0.58	3.22	N/A	N/A	49,274	28,673	226,776	163,971
2022-02-24	$25.24	$26.00	64.6%	18.6%	56.7%	56.4%	64.8%	5.6%	-1.6%	4.4M	-58.0M	-1.0M	0.47	3.49	N/A	N/A	49,778	23,164	229,201	167,457
2022-02-25	$26.34	$26.00	59.3%	16.9%	58.6%	42.1%	59.5%	5.9%	0.5%	7.7M	-126.4M	-1.0M	0.61	3.01	N/A	N/A	38,501	23,387	233,487	173,574
2022-02-28	$25.84	$26.00	63.2%	18.6%	58.4%	52.7%	64.9%	5.7%	-1.2%	3.1M	-72.2M	-1.0M	0.64	4.27	N/A	N/A	17,456	11,109	181,022	156,185