M Options History — June 2023

In June 2023, M traded between $13.68 and $16.34. ATM implied volatility averaged 42.5%, placing in the 8.2% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded below realized volatility by 21.1% (HV 20d: 63.6%). Max pain ranged from $15.00 to $17.00. Net GEX was positive for 6 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.89.

Notable Days

  • 2023-06-02: Highest Volume — 105,315 contracts
  • 2023-06-20: Largest IV spike — 6.7% change
  • 2023-06-01: Highest IV Rank — 21.6%
  • 2023-06-02: Largest Expected Move — 15.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.61$13.68$16.34$13.68$16.05
Max Pain$15.62$15.00$17.00$17.00$16.00
ATM IV42.5%39.3%47.7%47.7%39.3%
Expected Move12.3%11.1%15.1%15.0%11.1%
HV 20d63.6%50.5%69.4%50.5%57.6%
HV 60d49.6%42.4%51.4%42.4%47.8%
IV Rank8.2%0.0%21.6%21.6%0.0%
IV Percentile3.7%0.0%13.9%13.9%0.0%
Term Structure-0.2%-1.9%1.1%-1.9%0.8%
VWIV43.8%38.9%53.5%52.3%38.9%
Skew 25d2.5%1.3%4.0%4.0%2.7%
Skew 10d4.2%1.4%6.0%5.7%3.7%
Call IV 25d42.1%38.3%46.9%46.2%38.3%
Put IV 25d44.7%41.0%50.3%50.3%41.0%
Bid-Ask Spread %3.432.615.072.613.27
Gamma HHI0.180.100.480.130.48
Net GEX-530.4K-4.9M5.8M-1.9M5.8M
Net DEX35.8M-7.7M144.5M144.5M-7.7M
Net VEX-750.6K-831.3K-619.0K-619.0K-739.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.890.153.090.990.33
Total Volume27,576.3336,449105,315103,40518,155
Total OI395,530.048292,469507,208490,524330,942

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-06-01$13.68$17.0047.7%15.0%50.5%21.6%52.3%4.0%-1.9%-1.9M144.5M-619.0K0.992.61N/AN/A51,90351,502243,298247,226
2023-06-02$15.41$17.0046.3%15.1%65.5%17.9%53.5%2.3%-1.8%3.5M30.9M-767.8K0.543.23N/AN/A68,57236,743253,553253,655
2023-06-05$14.96$15.0045.6%12.8%64.1%16.1%45.6%3.9%-0.3%-1.7M91.2M-740.8K1.164.04N/AN/A9,21810,654215,966233,307
2023-06-06$15.88$15.0044.6%12.6%67.2%13.6%45.0%2.1%-0.4%-1.1M36.2M-781.8K0.384.16N/AN/A29,43311,124217,330233,178
2023-06-07$16.27$15.0042.8%12.5%67.6%9.0%45.0%2.7%-0.4%-101.6K4.7M-831.3K0.383.46N/AN/A16,1026,184233,211235,382
2023-06-08$16.04$15.0042.6%12.3%67.7%8.5%44.4%2.5%0.1%383.3K18.4M-811.6K0.802.95N/AN/A7,8356,282240,394235,783
2023-06-09$15.61$15.0042.5%12.0%68.6%8.0%44.8%2.3%0.5%-1.9M49.3M-785.6K0.903.07N/AN/A9,8958,938242,619239,104
2023-06-12$16.09$15.0043.6%12.5%69.3%11.1%46.5%2.9%0.3%-2.0M31.0M-788.7K0.533.48N/AN/A12,3736,517217,974230,206
2023-06-13$16.34$15.0042.5%12.5%69.2%8.1%43.8%2.5%1.1%-776.5K12.7M-796.4K0.155.07N/AN/A35,1755,422222,098232,041
2023-06-14$15.82$15.0042.5%12.1%69.4%8.1%43.0%2.1%-0.0%-2.7M64.4M-785.5K3.093.82N/AN/A7,72823,904209,603232,816
2023-06-15$15.93$15.0042.4%12.0%67.1%8.0%43.4%2.5%-0.8%-2.6M41.1M-778.0K0.893.19N/AN/A7,1246,360211,221224,529
2023-06-16$15.89$15.0040.1%11.5%66.8%2.0%40.1%2.6%-0.2%-4.9M43.7M-755.9K0.963.98N/AN/A11,63411,193214,054224,460
2023-06-20$15.73$16.0042.8%12.3%62.9%9.0%44.0%2.5%-0.2%75.7K16.8M-744.2K1.313.21N/AN/A6,1648,049139,809152,660
2023-06-21$15.50$16.0042.1%12.1%63.2%7.1%42.3%1.5%-0.5%-121.5K24.0M-721.4K1.372.98N/AN/A5,5407,596142,932154,217
2023-06-22$15.21$16.0042.0%12.1%63.6%7.0%41.9%2.1%-0.5%-615.3K35.5M-713.9K1.242.87N/AN/A3,3784,193146,030158,075
2023-06-23$14.96$16.0041.6%11.9%63.3%5.9%41.7%1.3%-0.0%-609.1K47.6M-706.7K0.603.92N/AN/A8,6735,186146,815163,777
2023-06-26$15.21$16.0040.9%11.5%57.6%3.9%40.4%3.2%-0.2%-691.0K35.7M-704.9K0.613.82N/AN/A6,9984,257141,891158,855
2023-06-27$15.70$16.0041.0%12.0%58.4%4.2%41.5%2.6%0.5%103.0K13.8M-729.9K1.002.67N/AN/A6,1306,106146,541159,199
2023-06-28$15.46$16.0040.4%11.8%58.3%2.8%41.5%3.0%-0.1%-53.5K22.2M-717.7K0.753.13N/AN/A3,6862,763149,025160,570
2023-06-29$16.05$16.0039.6%11.6%57.6%0.6%40.9%2.3%0.7%853.7K-3.2M-742.9K0.703.05N/AN/A17,87612,538150,361161,424
2023-06-30$16.05$16.0039.3%11.1%57.6%0.0%38.9%2.7%0.8%5.8M-7.7M-739.4K0.333.27N/AN/A13,6404,515160,538170,404