M Options History — June 2025

In June 2025, M traded between $10.71 and $12.36. ATM implied volatility averaged 41.4%, placing in the 23.7% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded below realized volatility by 2.8% (HV 20d: 44.2%). Max pain ranged from $11.00 to $12.50. Net GEX was positive for 10 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.43.

Notable Days

  • 2025-06-27: Highest Volume — 36,993 contracts
  • 2025-06-05: Largest IV spike — 35.5% change
  • 2025-06-05: Highest IV Rank — 38.4%
  • 2025-06-30: Largest Expected Move — 13.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.51$10.71$12.36$11.29$11.61
Max Pain$11.85$11.00$12.50$12.50$11.00
ATM IV41.4%30.5%53.5%40.7%43.6%
Expected Move11.9%11.2%13.8%12.0%13.8%
HV 20d44.2%38.6%48.2%42.4%47.0%
HV 60d67.1%65.6%69.0%69.0%67.0%
IV Rank23.7%10.4%38.4%22.8%26.4%
IV Percentile32.9%4.0%69.8%27.4%42.1%
Term Structure-1.3%-18.0%27.0%0.6%1.0%
VWIV41.3%38.8%47.4%43.0%41.1%
Skew 25d6.9%-9.7%48.0%3.9%13.9%
Skew 10d7.1%-13.9%32.4%14.4%5.9%
Call IV 25d39.0%34.7%41.8%39.2%40.7%
Put IV 25d46.0%28.2%89.0%43.1%54.6%
Bid-Ask Spread %18.595.0069.7320.0644.51
Gamma HHI0.200.130.320.190.24
Net GEX8.3K-1.4M1.1M-774.5K965.0K
Net DEX32.1M6.2M54.0M54.0M6.2M
Net VEX-392.4K-453.8K-329.5K-377.8K-453.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.430.051.910.720.11
Total Volume15,309.055,65636,99315,18321,322
Total OI241,278.85188,725261,322238,572246,581

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-06-02$11.29$12.5040.7%12.0%42.4%22.8%43.0%3.9%0.6%-774.5K54.0M-377.8K0.7220.06N/AN/A8,8146,369105,213133,359
2025-06-03$11.52$12.5041.4%11.4%43.1%23.7%40.0%5.3%-2.5%-366.5K47.7M-384.0K0.3169.73N/AN/A7,0492,198110,173135,238
2025-06-04$11.50$12.5039.5%11.5%41.7%21.3%42.7%-9.7%0.8%-363.8K46.6M-389.7K0.055.02N/AN/A24,8891,125112,907135,335
2025-06-05$11.91$12.0053.5%11.6%43.5%38.4%39.9%10.0%-11.6%1.1M30.9M-410.3K0.287.21N/AN/A13,7513,809118,801135,533
2025-06-06$12.27$12.0037.6%11.2%44.0%19.0%38.9%2.8%1.3%381.3K15.3M-418.4K0.285.71N/AN/A11,1903,117118,234136,354
2025-06-09$12.20$12.0039.0%11.2%43.4%20.7%39.3%2.2%-0.2%669.1K24.5M-409.0K0.9810.10N/AN/A3,0883,022112,923131,448
2025-06-10$12.36$12.0030.5%11.4%38.6%10.4%38.9%6.3%0.6%806.1K18.8M-413.9K0.1011.95N/AN/A23,6832,386113,585133,027
2025-06-11$12.14$12.0039.1%11.2%39.1%20.9%38.8%3.0%-0.1%835.6K26.9M-403.8K0.338.49N/AN/A4,8281,617125,711133,361
2025-06-12$11.86$12.0041.3%11.2%39.0%23.5%40.3%12.3%-5.4%213.4K37.6M-389.7K0.237.56N/AN/A15,0233,396127,421133,901
2025-06-13$11.25$12.0036.0%12.1%43.1%17.2%40.7%4.0%-1.2%-308.9K52.4M-373.6K0.839.21N/AN/A3,7873,146126,096133,509
2025-06-16$11.86$12.0039.9%11.5%46.1%21.8%41.0%3.6%-12.8%705.0K19.5M-389.9K0.655.00N/AN/A6,9004,499114,003116,530
2025-06-17$11.36$12.0042.1%12.1%47.7%24.5%42.6%3.6%-0.1%-205.4K33.8M-374.5K1.915.20N/AN/A2,1034,013116,802118,462
2025-06-18$11.09$12.0042.2%12.1%48.2%24.7%42.5%4.3%-1.1%-897.9K40.9M-359.4K0.4551.37N/AN/A3,8981,758118,061120,585
2025-06-20$11.04$12.0041.5%11.9%46.9%23.8%41.4%3.8%0.2%-1.4M39.6M-354.4K0.4610.47N/AN/A4,9742,298119,549119,691
2025-06-23$10.71$12.0043.0%12.6%47.1%25.6%47.4%3.0%-18.0%-722.7K42.8M-329.5K0.4766.11N/AN/A18,3758,71682,843105,882
2025-06-24$10.84$11.5045.3%12.1%47.0%28.4%42.6%9.1%27.0%-632.5K38.3M-362.3K0.105.01N/AN/A19,7232,00397,478112,678
2025-06-25$10.98$11.0046.5%12.4%45.1%29.9%43.4%4.7%-3.3%-179.8K29.1M-400.1K0.2014.68N/AN/A10,2622,003119,899113,762
2025-06-26$11.09$11.0043.2%12.0%45.3%25.9%40.3%4.9%0.2%68.6K22.7M-419.1K0.145.91N/AN/A8,7981,256127,156115,067
2025-06-27$11.32$11.0041.9%11.9%46.0%24.3%41.5%48.0%-0.4%248.0K13.7M-435.3K0.098.44N/AN/A33,8923,101132,902115,517
2025-06-30$11.61$11.0043.6%13.8%47.0%26.4%41.1%13.9%1.0%965.0K6.2M-453.8K0.1144.51N/AN/A19,1452,177135,458111,123