M Options History — April 2022

In April 2022, M traded between $23.26 and $26.84. ATM implied volatility averaged 60.4%, placing in the 44.9% IV rank vs the trailing year. The 30-day expected move averaged 17.3%. IV traded above realized volatility by 10.1% (HV 20d: 50.3%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 16 of 20 trading days. Term structure was in contango for 15 of 20 days. Put/call ratio averaged 0.88.

Notable Days

  • 2022-04-01: Highest Volume — 73,501 contracts
  • 2022-04-25: Largest IV spike — 9.2% change
  • 2022-04-29: Highest IV Rank — 89.8%
  • 2022-04-26: Largest Expected Move — 20.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.95$23.26$26.84$24.24$24.36
Max Pain$25.00$25.00$25.00$25.00$25.00
ATM IV60.4%50.6%77.0%51.8%77.0%
Expected Move17.3%15.5%20.6%16.6%19.5%
HV 20d50.3%43.8%78.3%78.3%47.2%
HV 60d68.2%62.4%72.0%72.0%64.2%
IV Rank44.9%18.4%89.8%21.9%89.8%
IV Percentile50.5%13.9%96.8%19.8%96.8%
Term Structure1.6%-6.7%8.0%0.6%-5.6%
VWIV60.9%54.6%71.3%55.7%71.3%
Skew 25d5.6%2.8%8.8%6.0%2.8%
Skew 10d11.6%7.8%17.4%9.1%7.8%
Call IV 25d58.5%48.8%76.4%48.8%76.4%
Put IV 25d64.1%54.6%80.4%54.9%79.1%
Bid-Ask Spread %5.933.178.578.406.77
Gamma HHI0.100.070.300.080.21
Net GEX802.0K-6.2M3.8M-949.7K-2.4M
Net DEX-57.1M-149.0M40.2M40.2M-58.3M
Net VEX-1.3M-1.4M-1.1M-1.1M-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.880.261.680.291.30
Total Volume40,885.2518,23773,50173,50132,188
Total OI376,363.5341,404430,463351,600430,463

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-04-01$24.24$25.0051.8%16.6%78.3%21.9%55.7%6.0%0.6%-949.7K40.2M-1.1M0.298.40N/AN/A56,88316,618156,544195,056
2022-04-04$24.59$25.0050.8%15.5%60.2%19.0%55.1%5.3%0.4%498.3K-25.8M-1.2M0.565.06N/AN/A26,98015,068164,280177,124
2022-04-05$24.70$25.0050.6%15.6%54.3%18.4%54.6%5.4%0.9%1.4M-39.1M-1.2M0.457.34N/AN/A27,04012,044175,868185,263
2022-04-06$24.01$25.0053.5%16.4%53.3%26.3%56.7%5.1%4.1%120.7K2.6M-1.2M0.755.10N/AN/A14,40110,786180,422188,739
2022-04-07$23.26$25.0055.8%16.8%54.0%32.6%60.1%7.1%3.1%-1.3M39.9M-1.1M1.166.47N/AN/A25,36429,412182,699190,808
2022-04-08$23.74$25.0055.3%16.5%52.5%31.2%58.2%5.1%1.4%83.7K6.4M-1.2M0.576.46N/AN/A21,30412,231189,254194,634
2022-04-11$24.46$25.0057.0%16.7%53.5%35.9%58.5%6.4%0.8%1.3M-38.2M-1.2M0.567.04N/AN/A23,63213,162172,961184,593
2022-04-12$24.83$25.0054.4%16.6%51.8%28.7%58.8%4.9%3.7%2.1M-55.6M-1.2M1.335.25N/AN/A22,65330,090179,199188,999
2022-04-13$25.76$25.0053.9%16.1%44.9%27.4%58.0%4.4%2.0%3.0M-107.8M-1.3M0.573.19N/AN/A29,37516,860186,226209,467
2022-04-14$25.85$25.0055.4%16.3%43.8%31.5%57.8%6.1%1.3%3.3M-123.8M-1.3M0.753.38N/AN/A30,25422,710196,170214,907
2022-04-18$25.71$25.0059.2%17.2%43.8%41.8%60.5%4.9%4.5%1.2M-87.2M-1.3M1.685.13N/AN/A16,42627,590168,527177,086
2022-04-19$26.84$25.0056.7%16.3%45.0%35.0%58.2%3.7%6.3%2.4M-143.0M-1.3M0.863.17N/AN/A21,71518,689173,195187,034
2022-04-20$26.53$25.0057.6%16.5%44.9%37.4%59.2%5.2%8.0%2.0M-122.3M-1.3M1.154.59N/AN/A9,32810,687178,238192,918
2022-04-21$25.74$25.0060.0%16.9%43.8%43.9%56.9%5.9%5.4%514.9K-78.3M-1.3M0.904.41N/AN/A14,53013,112179,522195,469
2022-04-22$24.43$25.0064.7%18.0%46.7%56.7%62.2%5.0%7.1%-6.2M-2.5M-1.3M1.548.48N/AN/A14,73722,698181,497196,985
2022-04-25$25.07$25.0070.7%19.7%47.7%72.7%68.9%7.6%-3.1%663.4K-55.0M-1.3M0.268.57N/AN/A54,99214,033170,224181,675
2022-04-26$24.33$25.0073.6%20.6%48.1%80.8%71.2%8.8%-2.0%1.9M-61.8M-1.3M1.045.34N/AN/A8,9209,317203,359185,336
2022-04-27$24.76$25.0075.7%19.8%45.9%86.4%70.2%5.4%-6.7%2.6M-82.7M-1.3M1.128.56N/AN/A20,74423,275205,092185,819
2022-04-28$25.70$25.0073.8%19.2%45.9%81.1%66.8%6.5%-1.2%3.8M-149.0M-1.4M0.735.96N/AN/A16,07711,780218,305203,313
2022-04-29$24.36$25.0077.0%19.5%47.2%89.8%71.3%2.8%-5.6%-2.4M-58.3M-1.4M1.306.77N/AN/A13,97518,213222,641207,822