M Options History — March 2023 In March 2023, M traded between $16.95 and $22.73. ATM implied volatility averaged 47.4%, placing in the 13.9% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded below realized volatility by 4.4% (HV 20d: 51.9%). Max pain ranged from $20.00 to $22.00. Net GEX was positive for 6 of 23 trading days. Term structure was in contango for 6 of 23 days. Put/call ratio averaged 1.44.
Notable Days 2023-03-02 : Highest Volume — 127,120 contracts2023-03-02 : Largest IV drop — 23.3% change2023-03-23 : Highest IV Rank — 25.5%2023-03-01 : Largest Expected Move — 18.4%Monthly Statistics Metric Avg Min Max Open Close Price $19.10 $16.95 $22.73 $20.43 $17.36 Max Pain $21.09 $20.00 $22.00 $22.00 $20.00 ATM IV 47.4% 39.4% 55.4% 55.4% 45.9% Expected Move 13.6% 10.7% 18.4% 18.4% 12.9% HV 20d 51.9% 36.0% 56.3% 36.4% 37.7% HV 60d 44.9% 37.8% 47.0% 37.8% 45.0% IV Rank 13.9% 0.0% 25.5% 24.3% 11.5% IV Percentile 9.4% 0.0% 23.4% 22.2% 7.5% Term Structure -0.4% -2.0% 0.7% -2.0% 0.5% VWIV 48.4% 38.3% 64.8% 64.8% 45.0% Skew 25d 5.8% 2.9% 8.1% 6.3% 5.9% Skew 10d 10.4% 4.0% 15.2% 10.8% 10.7% Call IV 25d 45.2% 38.1% 52.8% 52.8% 43.9% Put IV 25d 51.0% 41.3% 59.1% 59.1% 49.7% Bid-Ask Spread % 3.73 2.48 7.16 3.58 3.16 Gamma HHI 0.14 0.10 0.27 0.14 0.27 Net GEX -1.6M -4.9M 5.1M -1.9M 833.8K Net DEX 98.8M -89.6M 168.7M 67.7M 143.9M Net VEX -970.6K -1.1M -852.1K -1.0M -938.8K Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 1.44 0.10 6.84 0.71 0.52 Total Volume 43,689.565 9,825 127,120 61,433 53,930 Total OI 420,741 340,731 464,241 385,863 434,116
Daily Data (23 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 2023-03-01 $20.43 $22.00 55.4% 18.4% 36.4% 24.3% 64.8% 6.3% -2.0% -1.9M 67.7M -1.0M 0.71 3.58 N/A N/A 35,849 25,584 165,147 220,716 2023-03-02 $22.73 $22.00 42.5% 12.4% 53.4% 0.4% 45.0% 3.8% -0.2% 3.6M -87.8M -1.1M 0.58 3.73 N/A N/A 80,667 46,453 189,721 235,514 2023-03-03 $22.62 $22.00 39.4% 10.7% 53.3% 0.0% 38.3% 3.1% -0.1% 5.1M -89.6M -1.0M 1.18 3.00 N/A N/A 12,397 14,628 208,573 245,715 2023-03-06 $21.64 $22.00 41.0% 11.5% 55.1% 2.9% 42.7% 4.4% -0.5% 644.7K 6.3M -1.0M 1.14 3.72 N/A N/A 14,364 16,322 187,449 228,948 2023-03-07 $21.19 $22.00 40.9% 11.6% 55.3% 2.7% 41.0% 3.3% -0.6% 546.1K 27.7M -984.8K 1.73 3.66 N/A N/A 7,081 12,258 196,336 226,028 2023-03-08 $21.02 $22.00 40.1% 11.5% 55.2% 1.3% 40.2% 4.0% -0.2% -415.7K 48.2M -1.0M 0.91 3.89 N/A N/A 5,143 4,682 199,940 234,967 2023-03-09 $20.49 $22.00 42.4% 12.3% 50.7% 5.3% 42.6% 2.9% -0.6% -2.4M 81.7M -986.0K 0.13 4.18 N/A N/A 42,070 5,404 201,733 236,001 2023-03-10 $19.51 $22.00 45.9% 13.0% 53.1% 11.5% 47.1% 4.2% -0.8% -4.9M 139.3M -948.5K 6.84 4.81 N/A N/A 7,754 53,038 226,727 237,514 2023-03-13 $18.76 $21.00 52.2% 14.9% 54.4% 22.6% 54.2% 6.3% -0.5% -4.5M 160.5M -935.6K 0.54 3.42 N/A N/A 65,664 35,168 175,299 249,899 2023-03-14 $18.63 $21.00 50.8% 14.3% 54.0% 20.2% 49.9% 6.2% -1.1% -3.6M 147.4M -1.0M 1.00 2.88 N/A N/A 5,982 6,004 196,206 259,951 2023-03-15 $18.77 $21.00 52.7% 15.0% 53.9% 23.5% 56.1% 7.0% -0.1% -3.5M 132.9M -1.0M 4.34 2.81 N/A N/A 8,000 34,692 196,958 256,631 2023-03-16 $18.95 $21.00 49.0% 14.0% 53.8% 17.0% 50.5% 6.8% -0.6% -2.2M 117.7M -999.7K 1.65 7.16 N/A N/A 13,057 21,579 198,715 249,320 2023-03-17 $18.88 $21.00 49.7% 14.3% 53.8% 18.2% 52.9% 8.1% 0.7% 726.2K 124.4M -991.0K 1.56 2.93 N/A N/A 7,673 11,980 205,195 246,372 2023-03-20 $18.41 $21.00 49.8% 14.3% 53.9% 18.4% 49.2% 6.9% -1.9% -2.5M 103.8M -939.6K 0.68 3.63 N/A N/A 10,561 7,169 141,129 199,602 2023-03-21 $18.84 $21.00 46.3% 13.3% 51.3% 12.2% 45.5% 6.5% -0.4% -2.3M 87.4M -974.8K 0.35 4.07 N/A N/A 15,900 5,526 149,230 206,369 2023-03-22 $18.16 $21.00 47.5% 13.6% 52.5% 14.3% 47.8% 6.6% -0.4% -2.7M 119.2M -940.7K 0.49 5.50 N/A N/A 9,114 4,462 156,597 209,866 2023-03-23 $17.11 $21.00 53.8% 15.5% 55.7% 25.5% 55.0% 8.0% -1.5% -2.9M 158.1M -852.1K 3.30 3.84 N/A N/A 24,982 82,355 157,526 212,274 2023-03-24 $16.95 $20.00 52.2% 14.9% 55.7% 22.6% 51.2% 7.5% 0.4% -3.1M 168.7M -896.7K 3.39 3.51 N/A N/A 10,240 34,720 174,548 244,512 2023-03-27 $17.19 $20.00 49.5% 14.2% 56.3% 17.8% 49.7% 6.9% 0.4% -3.1M 157.2M -946.7K 0.71 3.42 N/A N/A 6,986 4,995 170,615 253,683 2023-03-28 $17.29 $20.00 49.1% 14.0% 55.9% 17.1% 49.6% 6.5% -0.0% -2.8M 148.0M -954.7K 0.10 3.80 N/A N/A 61,923 6,229 174,897 254,843 2023-03-29 $17.30 $20.00 47.0% 13.5% 56.0% 13.5% 47.8% 6.9% 0.5% -2.3M 147.3M -944.6K 0.91 2.48 N/A N/A 22,431 20,400 182,308 255,030 2023-03-30 $17.04 $20.00 48.2% 13.8% 36.0% 15.6% 47.8% 6.0% 0.2% -2.1M 161.7M -909.5K 0.41 2.60 N/A N/A 20,843 8,601 178,384 245,939 2023-03-31 $17.36 $20.00 45.9% 12.9% 37.7% 11.5% 45.0% 5.9% 0.5% 833.8K 143.9M -938.8K 0.52 3.16 N/A N/A 35,594 18,336 184,134 249,982
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