M Options History — November 2023

In November 2023, M traded between $10.75 and $15.79. ATM implied volatility averaged 57.8%, placing in the 55.3% IV rank vs the trailing year. The 30-day expected move averaged 16.9%. IV traded above realized volatility by 2.7% (HV 20d: 55.2%). Max pain ranged from $12.00 to $13.50. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.57.

Notable Days

  • 2023-11-16: Highest Volume — 151,429 contracts
  • 2023-11-16: Largest IV drop — 36.1% change
  • 2023-11-15: Highest IV Rank — 98.8%
  • 2023-11-01: Largest Expected Move — 23.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.31$10.75$15.79$12.02$15.79
Max Pain$12.98$12.00$13.50$12.00$13.50
ATM IV57.8%40.2%76.6%68.1%40.2%
Expected Move16.9%11.9%23.9%23.9%12.6%
HV 20d55.2%33.9%68.2%34.5%67.5%
HV 60d46.3%42.7%50.8%42.7%47.9%
IV Rank55.3%14.5%98.8%79.0%14.5%
IV Percentile59.8%9.9%99.6%90.5%9.9%
Term Structure-1.9%-5.1%0.8%-3.4%0.5%
VWIV59.3%42.4%83.2%83.2%46.4%
Skew 25d2.8%0.3%6.0%6.0%0.3%
Skew 10d4.1%-1.2%10.3%10.3%-1.2%
Call IV 25d56.9%40.5%76.6%65.2%41.0%
Put IV 25d59.8%41.3%77.9%71.2%41.3%
Bid-Ask Spread %17.522.4346.793.162.99
Gamma HHI0.140.100.210.120.12
Net GEX1.9M-1.2M6.0M463.5K5.0M
Net DEX-36.1M-156.3M87.6M25.9M-151.1M
Net VEX-707.4K-761.4K-580.8K-720.4K-734.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.250.990.940.76
Total Volume54,987.6678,201151,4298,20138,454
Total OI530,174.095491,234649,704510,399543,357

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-11-01$12.02$12.0068.1%23.9%34.5%79.0%83.2%6.0%-3.4%463.5K25.9M-720.4K0.943.16N/AN/A4,2273,974273,845236,554
2023-11-02$12.43$13.0067.2%18.6%33.9%76.9%64.3%4.8%-4.4%1.1M1.6M-736.1K0.462.55N/AN/A15,3337,087274,626238,445
2023-11-03$12.98$13.0066.7%18.4%36.5%75.7%63.8%3.9%-3.4%2.7M-28.8M-752.1K0.453.09N/AN/A46,49620,745276,150239,684
2023-11-06$12.52$13.0068.2%18.8%39.1%79.2%66.9%4.5%-2.3%75.6K11.4M-708.2K0.513.04N/AN/A18,1829,186260,078231,156
2023-11-07$12.41$13.0069.9%19.8%39.4%83.2%67.4%3.2%-0.2%-326.9K23.1M-700.8K0.343.08N/AN/A14,2434,778256,893237,984
2023-11-08$11.61$13.0071.8%20.1%46.6%87.5%70.7%2.7%-1.9%-769.5K63.0M-653.1K0.632.69N/AN/A23,94115,104260,755240,343
2023-11-09$11.07$13.0076.5%21.4%49.3%98.3%74.3%1.7%-2.3%-968.8K83.0M-609.8K0.532.43N/AN/A12,8586,839267,559240,639
2023-11-10$10.98$13.0074.7%21.1%48.6%94.4%73.5%5.2%-2.3%-1.2M87.5M-598.2K0.8824.45N/AN/A21,39518,894271,726242,531
2023-11-13$10.75$13.0073.1%20.9%47.5%90.6%73.5%5.7%-3.6%-1.0M87.6M-580.8K0.7719.76N/AN/A27,27220,931267,487236,394
2023-11-14$11.73$13.0072.6%20.7%54.5%89.5%73.5%4.0%-3.9%-349.2K45.1M-681.6K0.998.37N/AN/A24,78324,514281,776249,683
2023-11-15$12.57$13.0076.6%22.0%59.5%98.8%77.3%1.0%-5.1%413.4K-3.8M-745.4K0.5613.66N/AN/A88,25549,568290,649257,672
2023-11-16$13.27$13.0049.0%14.1%61.9%34.8%49.6%2.5%-2.6%3.1M-48.7M-705.4K0.4825.26N/AN/A102,01049,419336,082287,656
2023-11-17$14.36$13.0047.1%13.7%66.8%30.4%48.2%1.6%-2.2%4.5M-153.2M-747.8K0.3130.30N/AN/A102,06331,574353,295296,409
2023-11-20$15.02$13.0044.0%13.1%67.4%23.3%47.0%1.8%-1.3%4.2M-140.4M-761.4K0.4240.10N/AN/A55,64823,516263,695242,330
2023-11-21$14.91$13.0042.9%12.7%67.8%20.6%45.9%1.7%-1.2%3.3M-121.0M-752.2K0.2811.16N/AN/A58,91816,762262,554255,123
2023-11-22$14.73$13.0041.3%11.9%68.2%17.1%42.4%2.5%-0.7%4.0M-102.0M-736.1K0.5440.98N/AN/A14,9778,036286,722256,922
2023-11-24$14.84$13.0041.5%12.3%68.0%17.5%44.1%2.3%-1.2%2.8M-107.3M-737.1K0.8843.68N/AN/A9,8928,684288,042259,534
2023-11-27$14.84$13.0040.9%12.3%67.2%16.1%43.0%1.8%-0.4%2.8M-84.3M-706.4K0.6736.92N/AN/A23,02415,321253,146247,312
2023-11-28$14.93$13.0040.6%12.5%66.6%15.3%44.4%1.9%0.8%3.4M-89.5M-733.2K0.283.42N/AN/A24,7666,990268,316257,714
2023-11-29$15.70$13.0041.8%13.0%68.1%18.0%46.3%0.7%0.3%6.0M-156.3M-754.6K0.2546.79N/AN/A68,86517,217282,440260,378
2023-11-30$15.79$13.5040.2%12.6%67.5%14.5%46.4%0.3%0.5%5.0M-151.1M-734.7K0.762.99N/AN/A21,82816,626277,306266,051