M Options History — March 2022

In March 2022, M traded between $21.64 and $27.54. ATM implied volatility averaged 60.7%, placing in the 45.9% IV rank vs the trailing year. The 30-day expected move averaged 18.5%. IV traded below realized volatility by 21.5% (HV 20d: 82.2%). Max pain ranged from $25.00 to $26.00. Net GEX was positive for 16 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 1.01.

Notable Days

  • 2022-03-08: Highest Volume — 66,228 contracts
  • 2022-03-07: Largest IV spike — 10.8% change
  • 2022-03-07: Highest IV Rank — 82.5%
  • 2022-03-07: Largest Expected Move — 23.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.36$21.64$27.54$24.46$24.42
Max Pain$25.87$25.00$26.00$26.00$26.00
ATM IV60.7%49.4%74.3%68.0%52.6%
Expected Move18.5%16.5%23.5%19.7%16.5%
HV 20d82.2%61.7%91.4%61.7%79.6%
HV 60d70.3%62.6%73.0%62.6%73.0%
IV Rank45.9%15.1%82.5%65.5%24.0%
IV Percentile51.5%7.5%94.4%84.1%21.8%
Term Structure-0.3%-1.7%1.4%-1.6%0.8%
VWIV64.8%57.3%81.9%71.1%57.3%
Skew 25d6.1%4.2%8.1%6.4%5.0%
Skew 10d14.6%10.7%30.7%13.2%11.3%
Call IV 25d58.5%48.4%72.4%65.4%50.3%
Put IV 25d64.7%52.7%79.4%71.8%55.3%
Bid-Ask Spread %4.832.7510.723.579.45
Gamma HHI0.080.050.170.060.07
Net GEX1.6M-2.0M5.6M1.7M-2.0M
Net DEX-50.9M-161.0M53.6M-20.8M17.0M
Net VEX-1.1M-1.2M-868.5K-1.0M-1.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.010.362.180.601.10
Total Volume38,268.73922,85166,22822,85152,069
Total OI339,203264,960383,206344,382327,719

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-03-01$24.46$26.0068.0%19.7%61.7%65.5%71.1%6.4%-1.6%1.7M-20.8M-1.0M0.603.57N/AN/A14,2698,582185,235159,147
2022-03-02$26.25$26.0062.6%18.1%65.8%51.0%63.2%5.5%-0.4%4.5M-97.8M-1.1M0.534.33N/AN/A22,86912,162190,024160,306
2022-03-03$25.84$26.0063.0%18.2%64.8%51.9%63.8%4.8%-0.2%4.1M-79.4M-1.0M0.773.22N/AN/A15,70412,151193,498161,277
2022-03-04$24.77$26.0067.1%19.6%66.6%63.0%69.2%6.2%-1.4%1.8M-27.6M-1.0M0.943.35N/AN/A18,32417,218197,862164,210
2022-03-07$21.64$26.0074.3%23.5%81.5%82.5%81.9%7.0%-1.0%-321.7K53.6M-868.5K1.353.62N/AN/A25,49634,331177,137155,253
2022-03-08$23.36$26.0072.7%21.9%86.8%78.1%75.7%7.0%-1.5%1.1M9.2M-963.9K0.363.72N/AN/A48,56917,659185,491163,188
2022-03-09$24.36$25.0067.5%19.8%87.9%64.1%69.9%8.1%-1.1%2.9M-34.9M-1.0M0.603.47N/AN/A21,78413,161200,871167,387
2022-03-10$24.74$25.0066.3%19.0%87.1%61.0%67.2%6.2%-1.6%3.8M-48.3M-1.0M1.314.15N/AN/A11,15514,631203,043171,661
2022-03-11$23.71$25.0067.1%20.1%87.9%63.2%69.2%7.1%-0.8%1.1M4.3M-978.1K1.873.34N/AN/A20,95039,251203,679174,701
2022-03-14$23.77$26.0068.7%19.9%87.1%67.3%70.2%6.9%-0.6%1.4M10.2M-1.0M0.804.63N/AN/A14,52511,559190,490174,180
2022-03-15$24.76$26.0065.0%19.4%87.5%57.5%67.2%7.3%-0.7%3.0M-33.2M-1.0M0.984.85N/AN/A13,69913,399194,283174,295
2022-03-16$26.80$26.0060.2%18.4%91.4%44.5%63.2%6.5%-0.2%5.2M-137.3M-1.1M0.418.55N/AN/A43,47017,999197,441176,401
2022-03-17$27.50$26.0059.4%18.3%91.2%42.3%63.6%6.0%-0.5%5.6M-161.0M-1.0M0.725.91N/AN/A23,78517,020196,755179,680
2022-03-18$27.54$26.0055.2%17.2%90.2%30.9%60.0%5.5%-0.1%2.7M-157.2M-1.0M0.7110.72N/AN/A22,60415,990198,712184,494
2022-03-21$26.58$26.0055.8%17.0%91.0%32.6%59.7%5.2%0.4%619.4K-74.0M-1.0M1.149.31N/AN/A11,53713,170114,098150,862
2022-03-22$26.92$26.0052.5%16.6%88.5%23.7%59.5%5.3%0.8%870.2K-84.7M-1.1M0.913.50N/AN/A24,54122,386119,248156,506
2022-03-23$25.84$26.0054.1%17.1%87.8%27.9%60.2%5.6%0.8%-90.9K-45.5M-1.1M1.806.71N/AN/A12,42122,384130,601166,054
2022-03-24$26.42$26.0054.4%17.0%83.2%28.9%59.8%5.4%0.4%141.2K-66.3M-1.1M1.152.85N/AN/A10,89312,541135,460174,138
2022-03-25$26.11$26.0053.4%17.1%82.0%26.1%61.3%6.1%0.9%-35.8K-56.0M-1.1M2.183.10N/AN/A12,89128,090137,004174,998
2022-03-28$25.49$26.0054.5%17.4%82.1%29.0%59.9%6.3%0.3%-680.9K-27.0M-1.1M1.412.94N/AN/A13,39118,841128,015170,569
2022-03-29$26.58$26.0049.4%16.7%80.8%15.1%57.4%4.2%1.4%-166.5K-77.1M-1.2M0.472.75N/AN/A25,48812,064132,813178,805
2022-03-30$25.53$26.0052.8%17.0%78.3%24.6%59.4%6.6%-1.7%-620.1K-36.6M-1.2M1.063.03N/AN/A12,20012,958145,071179,007
2022-03-31$24.42$26.0052.6%16.5%79.6%24.0%57.3%5.0%0.8%-2.0M17.0M-1.1M1.109.45N/AN/A24,78427,285146,359181,360