M Options History — December 2022

In December 2022, M traded between $19.99 and $23.41. ATM implied volatility averaged 53.4%, placing in the 16.3% IV rank vs the trailing year. The 30-day expected move averaged 15.4%. IV traded above realized volatility by 5.3% (HV 20d: 48.1%). Max pain ranged from $20.00 to $22.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.86.

Notable Days

  • 2022-12-13: Highest Volume — 62,716 contracts
  • 2022-12-12: Largest IV spike — 8.3% change
  • 2022-12-13: Highest IV Rank — 23.4%
  • 2022-12-28: Largest Expected Move — 16.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$21.36$19.99$23.41$23.20$20.63
Max Pain$20.19$20.00$22.00$22.00$20.00
ATM IV53.4%45.0%57.0%47.5%55.4%
Expected Move15.4%13.8%16.6%14.6%16.6%
HV 20d48.1%27.1%69.5%67.8%29.4%
HV 60d51.5%48.1%53.9%53.7%48.1%
IV Rank16.3%0.0%23.4%0.0%20.4%
IV Percentile11.0%0.0%20.6%0.0%14.7%
Term Structure-0.5%-3.4%2.5%1.9%-0.5%
VWIV53.8%49.0%59.9%52.4%55.9%
Skew 25d5.9%4.6%7.4%5.5%6.5%
Skew 10d11.6%9.1%15.2%11.9%12.9%
Call IV 25d50.8%42.8%55.1%44.8%52.5%
Put IV 25d56.7%47.4%61.2%50.3%59.1%
Bid-Ask Spread %3.472.138.393.036.21
Gamma HHI0.100.070.390.080.08
Net GEX725.7K-6.3M3.0M2.1M1.8M
Net DEX-40.5M-144.0M38.8M-128.6M-32.8M
Net VEX-1.1M-1.2M-978.6K-1.1M-1.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.860.131.951.361.02
Total Volume26,434.09510,50262,71621,40513,239
Total OI473,362.762431,183501,162440,219501,162

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2022-12-01$23.20$22.0047.5%14.6%67.8%0.0%52.4%5.5%1.9%2.1M-128.6M-1.1M1.363.03N/AN/A9,08112,324192,359247,860
2022-12-02$23.41$22.0045.0%13.8%67.8%0.0%50.3%4.6%2.5%2.4M-144.0M-1.1M0.373.23N/AN/A17,9976,601195,525253,060
2022-12-05$22.62$20.0048.2%14.0%69.0%6.3%49.0%5.7%1.0%1.3M-90.0M-1.1M0.942.13N/AN/A12,50211,764188,366242,817
2022-12-06$22.43$20.0050.1%14.7%69.3%10.0%53.8%6.0%0.9%615.1K-72.9M-1.1M1.702.26N/AN/A12,34421,000192,302249,280
2022-12-07$22.91$20.0051.6%14.9%69.5%12.9%51.1%4.8%1.9%1.7M-108.5M-1.1M0.454.44N/AN/A38,48017,155196,109252,458
2022-12-08$22.91$20.0050.9%14.6%66.3%11.6%51.0%5.3%1.8%3.0M-128.5M-1.2M0.352.97N/AN/A18,2886,405223,210257,561
2022-12-09$22.11$20.0051.3%14.7%64.2%12.3%49.9%5.0%1.2%3.0M-69.7M-1.1M0.412.23N/AN/A26,82210,893230,985259,764
2022-12-12$22.05$20.0055.5%15.4%62.1%20.6%53.2%5.7%-2.4%1.1M-68.9M-1.1M0.432.50N/AN/A11,3534,918219,086255,477
2022-12-13$21.51$20.0057.0%15.5%62.3%23.4%52.8%6.1%-3.2%160.0K-37.7M-1.1M0.132.70N/AN/A55,5077,209224,919257,341
2022-12-14$21.63$20.0055.3%14.9%61.4%20.1%53.1%6.2%-3.4%1.2M-53.9M-1.1M0.726.52N/AN/A6,1214,381225,380257,808
2022-12-15$21.02$20.0055.4%15.3%55.7%20.3%51.6%5.3%-2.3%-248.6K-11.0M-1.1M0.413.09N/AN/A27,24811,283229,976258,169
2022-12-16$20.45$20.0056.1%15.7%32.7%21.7%53.8%5.7%-1.8%-6.3M38.8M-1.0M0.712.47N/AN/A16,29611,494227,413265,248
2022-12-19$20.13$20.0056.8%16.1%32.9%23.1%55.6%7.4%-1.1%386.9K16.5M-1.0M0.842.89N/AN/A20,82617,451213,382233,643
2022-12-20$20.16$20.0055.9%15.9%32.3%21.4%55.2%6.5%-1.4%477.4K14.6M-1.0M0.622.84N/AN/A11,6807,275223,791244,401
2022-12-21$20.41$20.0052.3%15.0%27.8%14.3%53.1%5.5%-0.1%1.1M-1.7M-1.0M0.562.44N/AN/A8,3714,691230,327247,681
2022-12-22$19.99$20.0056.4%16.3%28.2%22.3%56.6%6.7%-2.2%684.8K20.1M-1.0M0.952.60N/AN/A10,5299,981234,075249,111
2022-12-23$20.29$20.0054.2%15.6%28.4%17.9%53.9%5.6%-0.7%484.5K5.3M-1.0M0.673.01N/AN/A11,3997,637237,712254,555
2022-12-27$20.37$20.0055.9%16.5%28.1%21.2%58.5%7.2%-1.0%880.5K-10.1M-1.0M1.954.16N/AN/A7,97515,548232,902248,240
2022-12-28$19.99$20.0055.4%16.6%27.1%20.4%59.9%6.9%0.1%-752.3K19.9M-978.6K1.928.39N/AN/A4,8679,356236,138256,130
2022-12-29$20.34$20.0055.8%16.6%28.5%21.0%58.4%5.9%-1.1%84.2K-7.1M-997.6K1.472.84N/AN/A6,82210,003238,162256,733
2022-12-30$20.63$20.0055.4%16.6%29.4%20.4%55.9%6.5%-0.5%1.8M-32.8M-1.0M1.026.21N/AN/A6,5706,669241,818259,344