M Options History — May 2023

In May 2023, M traded between $13.66 and $16.07. ATM implied volatility averaged 67.1%, placing in the 51.6% IV rank vs the trailing year. The 30-day expected move averaged 19.9%. IV traded above realized volatility by 28.5% (HV 20d: 38.5%). Max pain ranged from $18.00 to $20.00. Net GEX was positive for 3 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 1.15.

Notable Days

  • 2023-05-31: Highest Volume — 120,449 contracts
  • 2023-05-19: Largest IV spike — 8.5% change
  • 2023-05-30: Highest IV Rank — 86.6%
  • 2023-05-30: Largest Expected Move — 26.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$14.98$13.66$16.07$16.07$13.66
Max Pain$18.41$18.00$20.00$19.00$18.00
ATM IV67.1%55.5%77.2%55.5%72.4%
Expected Move19.9%12.8%26.0%12.8%25.6%
HV 20d38.5%27.0%51.1%39.9%51.1%
HV 60d44.7%42.5%48.6%44.0%42.5%
IV Rank51.6%28.4%86.6%28.4%85.7%
IV Percentile74.2%32.9%98.8%32.9%90.9%
Term Structure-3.2%-6.3%1.5%-2.7%-4.1%
VWIV69.3%42.7%90.3%42.7%90.3%
Skew 25d7.6%5.4%9.4%5.7%8.2%
Skew 10d13.2%7.8%16.6%9.8%9.8%
Call IV 25d63.8%51.9%74.3%51.9%69.1%
Put IV 25d71.4%57.6%82.7%57.6%77.4%
Bid-Ask Spread %3.331.846.263.283.49
Gamma HHI0.140.110.280.140.12
Net GEX-2.0M-5.2M475.7K-5.2M-1.3M
Net DEX161.6M67.8M223.5M189.7M127.1M
Net VEX-719.9K-797.1K-626.7K-716.6K-685.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.150.273.122.711.58
Total Volume41,794.95516,795120,44942,817120,449
Total OI480,096.773418,445564,450430,122453,345

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$16.07$19.0055.5%12.8%39.9%28.4%42.7%5.7%-2.7%-5.2M189.7M-716.6K2.713.28N/AN/A11,52931,288184,398245,724
2023-05-02$15.68$19.0058.7%13.8%27.0%34.1%47.8%6.7%-3.0%-5.1M206.6M-698.3K1.783.81N/AN/A10,53918,810188,311254,037
2023-05-03$15.25$19.0058.3%14.4%27.4%33.4%47.1%5.4%-2.1%-4.7M220.2M-660.5K3.124.31N/AN/A9,02228,132193,210257,090
2023-05-04$14.66$20.0062.4%17.9%28.8%40.6%62.3%7.6%-1.0%-3.3M223.5M-626.7K2.904.85N/AN/A23,06766,779198,002250,251
2023-05-05$15.38$19.0060.4%17.7%35.3%37.0%61.1%5.7%-2.5%-4.6M194.3M-736.6K0.453.51N/AN/A17,7437,942212,024263,215
2023-05-08$15.07$19.0061.2%17.6%35.2%38.4%61.5%6.4%1.5%-2.8M197.2M-696.7K0.692.33N/AN/A9,9256,870213,110257,660
2023-05-09$15.02$19.0062.5%18.2%35.1%40.9%61.7%7.2%0.7%-2.7M200.8M-696.1K0.272.14N/AN/A21,3045,772218,533261,927
2023-05-10$14.86$19.0063.8%18.3%31.8%43.1%64.8%7.2%0.0%-2.2M198.5M-710.1K0.792.22N/AN/A19,57815,380233,095264,125
2023-05-11$14.96$18.0066.1%19.0%32.3%47.0%67.6%7.0%0.4%-2.1M193.4M-736.6K0.952.16N/AN/A20,75619,773244,284273,976
2023-05-12$14.93$18.0066.2%19.0%31.8%47.3%66.3%7.9%-0.2%89.1K197.4M-733.7K0.634.22N/AN/A15,7469,904249,927278,321
2023-05-15$15.23$18.0067.1%19.2%32.8%48.8%65.9%9.0%-4.5%-1.6M182.7M-732.9K0.992.29N/AN/A20,05219,916237,140266,151
2023-05-16$14.80$18.0071.2%20.4%33.6%56.1%73.2%9.0%-5.0%-1.5M194.7M-728.4K0.311.84N/AN/A25,5387,973250,950279,324
2023-05-17$15.57$18.0068.9%19.8%39.6%52.1%69.9%9.4%-2.9%81.0K129.5M-788.9K0.732.45N/AN/A26,78119,659271,740282,851
2023-05-18$15.86$18.0068.1%19.8%39.9%50.7%70.2%9.2%-5.1%-155.8K120.6M-797.1K0.462.93N/AN/A18,0978,253270,337284,368
2023-05-19$14.91$18.0073.9%21.8%44.5%60.9%76.2%8.1%-6.3%-2.8M182.9M-734.6K0.832.42N/AN/A21,03717,502275,844288,606
2023-05-22$14.93$18.0070.9%21.9%44.5%55.5%77.8%7.9%-4.6%-410.2K84.9M-726.7K0.942.94N/AN/A10,89610,281211,476206,969
2023-05-23$14.82$18.0071.4%22.4%42.5%56.4%78.0%7.9%-5.7%-539.3K89.9M-724.3K0.573.44N/AN/A15,1838,714215,582213,858
2023-05-24$15.18$18.0073.5%23.6%43.7%60.1%82.3%9.3%-5.9%475.7K67.8M-764.9K0.746.26N/AN/A9,7547,218227,518221,416
2023-05-25$14.13$18.0077.2%24.9%50.0%66.6%85.5%8.3%-6.3%-956.7K122.2M-686.6K2.193.81N/AN/A30,35766,548234,351225,781
2023-05-26$14.36$18.0073.3%23.7%50.5%65.4%82.6%6.5%-6.2%-840.4K120.9M-732.5K0.724.99N/AN/A25,63418,507237,081236,548
2023-05-30$14.14$18.0072.8%26.0%50.5%86.6%90.0%7.0%-5.3%-1.1M111.1M-723.0K0.843.57N/AN/A22,46618,815210,383219,290
2023-05-31$13.66$18.0072.4%25.6%51.1%85.7%90.3%8.2%-4.1%-1.3M127.1M-685.6K1.583.49N/AN/A46,65173,798221,932231,413