M Options History — August 2023

In August 2023, M traded between $12.09 and $16.23. ATM implied volatility averaged 54.3%, placing in the 39.7% IV rank vs the trailing year. The 30-day expected move averaged 15.5%. IV traded above realized volatility by 20.0% (HV 20d: 34.3%). Max pain ranged from $13.00 to $17.00. Net GEX was positive for 14 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 0.67.

Notable Days

  • 2023-08-22: Highest Volume — 185,872 contracts
  • 2023-08-22: Largest IV drop — 25.4% change
  • 2023-08-21: Highest IV Rank — 70.0%
  • 2023-08-21: Largest Expected Move — 19.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$14.47$12.09$16.23$16.23$12.21
Max Pain$15.43$13.00$17.00$16.50$13.00
ATM IV54.3%38.9%66.1%55.8%38.9%
Expected Move15.5%11.4%19.8%12.7%11.4%
HV 20d34.3%19.4%55.9%26.8%55.8%
HV 60d45.3%41.1%50.3%46.3%41.1%
IV Rank39.7%0.4%70.0%43.4%0.4%
IV Percentile48.3%0.4%82.9%51.2%0.4%
Term Structure-1.4%-5.6%1.5%-1.7%0.5%
VWIV54.0%39.4%69.3%45.4%39.4%
Skew 25d2.3%0.9%6.5%2.8%1.8%
Skew 10d2.3%-1.5%4.9%3.1%2.3%
Call IV 25d53.6%38.4%66.1%55.3%38.4%
Put IV 25d55.9%40.1%68.7%58.1%40.1%
Bid-Ask Spread %3.242.254.203.152.25
Gamma HHI0.130.090.270.100.15
Net GEX19.0K-2.7M2.3M524.0K1.5M
Net DEX49.3M2.1M122.4M2.2M83.6M
Net VEX-669.2K-721.7K-509.9K-704.9K-685.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.670.161.280.620.48
Total Volume36,970.91310,493185,87214,72816,815
Total OI388,953.87306,335532,800310,063517,411

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-08-01$16.23$16.5055.8%12.7%26.8%43.4%45.4%2.8%-1.7%524.0K2.2M-704.9K0.623.15N/AN/A9,1045,624161,401148,662
2023-08-02$16.05$16.5058.3%13.4%27.0%49.8%46.9%1.9%-3.7%166.2K10.5M-700.7K0.632.59N/AN/A8,9955,635163,523150,938
2023-08-03$15.96$17.0058.2%16.1%25.1%49.6%56.1%2.5%-3.8%-8.3K15.9M-690.0K0.583.40N/AN/A8,5924,980166,853154,447
2023-08-04$16.23$17.0055.6%15.6%25.7%43.1%54.1%1.1%-3.6%278.2K2.1M-697.4K0.603.64N/AN/A12,0987,263169,211156,623
2023-08-07$15.96$17.0055.6%16.0%26.1%43.0%55.0%2.5%1.0%123.5K16.4M-672.3K0.813.70N/AN/A9,8327,997163,313150,403
2023-08-08$15.89$17.0056.8%16.4%25.3%45.9%57.8%2.3%0.9%115.6K19.9M-681.1K1.273.77N/AN/A8,02510,196167,935154,449
2023-08-09$15.68$17.0057.9%17.1%25.5%48.7%60.1%2.8%1.5%-889.0K28.6M-669.2K0.303.98N/AN/A13,7184,084169,054159,797
2023-08-10$15.68$17.0057.2%16.3%23.3%47.1%57.2%1.4%-0.5%-453.8K28.8M-662.0K0.903.92N/AN/A5,5224,971176,283161,821
2023-08-11$15.57$17.0059.6%17.3%22.6%53.2%59.7%1.8%0.3%-2.7M33.6M-658.1K0.164.20N/AN/A36,7116,010176,947163,619
2023-08-14$15.64$16.0061.5%17.5%19.9%58.1%61.4%3.4%-2.2%155.1K20.9M-683.9K0.693.37N/AN/A10,8777,457187,566156,990
2023-08-15$15.21$16.0064.0%18.3%22.0%64.5%63.5%3.5%-3.9%-310.4K38.4M-667.2K0.943.03N/AN/A15,18514,317191,393161,411
2023-08-16$15.13$16.0066.1%18.9%19.4%69.7%65.4%2.9%-5.6%-212.9K43.7M-671.5K0.493.20N/AN/A17,3668,463198,119166,446
2023-08-17$15.05$16.0063.8%18.4%19.4%63.8%64.1%1.8%-3.2%-470.8K43.2M-664.4K0.403.31N/AN/A10,2264,105200,547165,554
2023-08-18$15.18$16.0065.6%19.2%19.8%68.6%66.3%2.5%-3.8%72.4K34.7M-668.3K0.913.15N/AN/A16,31214,896204,830166,616
2023-08-21$14.80$16.0065.7%19.8%19.4%70.0%69.3%2.3%-3.0%251.5K33.1M-673.6K1.083.59N/AN/A46,42250,029163,451142,884
2023-08-22$12.71$16.0049.0%14.6%55.7%26.5%51.4%1.6%-0.8%-2.1M122.4M-509.9K0.443.15N/AN/A129,37956,493195,926183,564
2023-08-23$12.54$13.0047.6%13.9%55.3%22.8%48.4%1.7%-0.1%-144.1K97.0M-644.5K0.813.32N/AN/A45,10236,350278,690200,293
2023-08-24$12.36$13.0046.8%13.7%55.3%20.8%47.8%0.9%-1.0%159.3K101.5M-681.7K0.553.32N/AN/A28,56815,694301,413215,354
2023-08-25$12.09$13.0043.1%12.3%55.0%11.3%44.9%1.9%-0.4%35.8K111.8M-648.6K1.282.89N/AN/A23,42830,061314,315218,485
2023-08-28$12.09$13.0041.7%12.5%54.1%7.5%45.0%2.3%0.1%813.1K94.2M-658.5K0.742.76N/AN/A15,93111,845283,733205,739
2023-08-29$12.21$13.0040.4%12.2%54.8%4.3%42.6%1.2%0.7%1.2M83.3M-676.6K0.322.26N/AN/A28,4439,137290,556207,220
2023-08-30$12.41$13.0039.1%11.7%55.9%0.7%41.3%6.5%0.6%2.3M66.8M-721.7K0.452.47N/AN/A12,4295,644302,401209,753
2023-08-31$12.21$13.0038.9%11.4%55.8%0.4%39.4%1.8%0.5%1.5M83.6M-685.2K0.482.25N/AN/A11,3385,477305,283212,128