M Options History — February 2024

In February 2024, M traded between $17.23 and $19.93. ATM implied volatility averaged 63.5%, placing in the 68.3% IV rank vs the trailing year. The 30-day expected move averaged 18.6%. IV traded above realized volatility by 34.6% (HV 20d: 28.9%). Max pain ranged from $19.00 to $19.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.71.

Notable Days

  • 2024-02-29: Highest Volume — 81,262 contracts
  • 2024-02-27: Largest IV drop — 22.1% change
  • 2024-02-14: Highest IV Rank — 83.8%
  • 2024-02-26: Largest Expected Move — 22.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.98$17.23$19.93$18.52$17.23
Max Pain$19.00$19.00$19.00$19.00$19.00
ATM IV63.5%51.7%70.2%61.3%52.8%
Expected Move18.6%15.2%22.0%17.1%16.5%
HV 20d28.9%24.4%46.7%24.8%46.7%
HV 60d57.5%53.7%63.8%63.8%56.0%
IV Rank68.3%41.0%83.8%63.2%43.6%
IV Percentile82.0%61.1%93.3%80.6%63.9%
Term Structure-0.8%-6.5%15.8%15.8%-1.8%
VWIV65.3%53.8%77.4%63.1%56.4%
Skew 25d8.3%-5.4%30.0%7.2%1.1%
Skew 10d13.3%0.3%23.1%18.5%4.7%
Call IV 25d59.2%45.5%64.7%58.7%53.6%
Put IV 25d67.6%44.7%85.3%65.9%54.6%
Bid-Ask Spread %50.8036.0066.0153.7866.01
Gamma HHI0.160.100.620.110.12
Net GEX1.8M-2.7M18.7M1.4M-2.7M
Net DEX-91.8M-151.4M47.9M-85.1M47.9M
Net VEX-870.6K-965.5K-787.5K-965.5K-801.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.191.770.520.62
Total Volume23,581.56,38381,2628,00781,262
Total OI428,153.7318,292488,985479,070398,779

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-02-01$18.52$19.0061.3%17.1%24.8%63.2%63.1%7.2%15.8%1.4M-85.1M-965.5K0.5253.78N/AN/A5,2552,752197,978281,092
2024-02-02$18.59$19.0063.6%17.3%24.4%68.6%59.1%30.0%10.3%400.0K-92.0M-963.4K1.1754.07N/AN/A6,7297,889199,291282,771
2024-02-05$18.43$19.0062.4%17.7%24.4%65.7%58.3%6.8%-0.8%-96.8K-74.8M-927.2K0.3952.64N/AN/A12,1914,705185,160278,575
2024-02-06$18.69$19.0063.5%17.3%24.7%68.5%61.1%5.6%-3.7%698.9K-101.4M-928.1K0.2154.66N/AN/A20,9304,423193,424281,471
2024-02-07$18.52$19.0062.0%17.2%24.9%64.8%59.4%12.1%-1.0%1.7M-93.5M-920.0K0.2649.94N/AN/A6,9221,801204,300282,450
2024-02-08$19.19$19.0066.6%17.8%28.1%75.5%62.2%10.4%-6.5%3.9M-144.8M-889.3K0.3655.81N/AN/A20,9797,501204,532283,237
2024-02-09$19.05$19.0069.3%19.2%26.7%81.9%64.6%6.1%-2.2%18.7M-135.8M-915.2K0.1953.99N/AN/A14,5222,794200,623288,362
2024-02-12$19.57$19.0066.2%18.8%28.2%74.6%67.2%7.8%-1.5%2.0M-148.6M-898.9K0.5954.57N/AN/A6,9704,120190,449280,533
2024-02-13$18.91$19.0068.9%19.6%29.5%80.8%69.0%9.6%-5.4%775.1K-113.4M-881.1K0.5553.67N/AN/A7,9734,379192,311282,835
2024-02-14$19.27$19.0070.2%20.1%29.7%83.8%72.5%9.0%-6.0%1.4M-134.8M-870.0K1.5852.41N/AN/A5,1108,060192,901285,066
2024-02-15$19.56$19.0068.0%19.7%29.9%78.7%69.9%9.3%-4.2%2.1M-151.4M-873.6K0.2155.00N/AN/A11,2682,387194,946291,060
2024-02-16$19.46$19.0067.8%19.8%29.5%78.4%71.5%7.3%-4.1%2.7M-150.3M-833.0K0.6452.40N/AN/A8,5785,475195,480290,921
2024-02-20$19.20$19.0066.7%20.5%28.0%75.7%71.2%7.6%-4.0%517.8K-65.6M-821.5K0.5941.01N/AN/A12,3657,341129,045189,247
2024-02-21$18.96$19.0064.6%20.5%28.4%70.8%72.6%7.4%-3.6%488.7K-58.3M-842.6K0.7640.45N/AN/A3,6292,754136,662193,738
2024-02-22$19.14$19.0063.0%20.3%28.5%67.2%71.1%3.3%-2.9%714.5K-66.7M-818.8K1.7736.00N/AN/A4,5738,073138,390195,289
2024-02-23$19.52$19.0062.0%19.8%26.7%64.9%70.5%5.1%-3.0%2.3M-80.2M-837.6K0.5039.39N/AN/A8,8234,379140,720202,344
2024-02-26$19.36$19.0066.8%22.0%27.0%76.0%77.4%23.3%12.4%377.5K-69.8M-825.7K1.5041.69N/AN/A23,61035,397133,151193,999
2024-02-27$19.93$19.0052.0%15.4%28.4%41.9%54.9%-5.4%-2.3%1.6M-101.0M-787.5K0.9549.94N/AN/A30,14728,750148,957218,950
2024-02-28$18.52$19.0051.7%15.2%39.3%41.0%53.8%3.4%-1.5%-2.2M-15.7M-812.9K0.8658.51N/AN/A19,80117,013157,135226,900
2024-02-29$17.23$19.0052.8%16.5%46.7%43.6%56.4%1.1%-1.8%-2.7M47.9M-801.1K0.6266.01N/AN/A50,11131,151169,149229,630