M Options History — March 2026

In March 2026, M traded between $16.91 and $19.21. ATM implied volatility averaged 59.0%, placing in the 41.4% IV rank vs the trailing year. The 30-day expected move averaged 17.1%. IV traded above realized volatility by 13.8% (HV 20d: 45.1%). Max pain ranged from $18.00 to $19.00. Net GEX was positive for 16 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 1.21.

Notable Days

  • 2026-03-17: Highest Volume — 51,005 contracts
  • 2026-03-18: Largest IV drop — 23.2% change
  • 2026-03-16: Highest IV Rank — 56.1%
  • 2026-03-12: Largest Expected Move — 31.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.00$16.91$19.21$18.86$18.09
Max Pain$18.70$18.00$19.00$19.00$18.00
ATM IV59.0%47.4%70.3%61.8%51.4%
Expected Move17.1%5.2%31.1%21.0%14.7%
HV 20d45.1%39.7%52.5%51.0%40.3%
HV 60d42.5%41.1%43.3%41.1%43.3%
IV Rank41.4%26.4%56.1%45.0%31.6%
IV Percentile76.2%46.8%98.8%92.9%54.0%
Term Structure-0.9%-3.9%3.4%-0.3%-0.3%
VWIV60.8%46.9%77.1%72.5%49.2%
Skew 25d4.8%1.4%6.8%4.7%6.8%
Skew 10d10.5%-13.4%41.6%13.4%10.3%
Call IV 25d57.7%47.4%70.9%59.0%49.1%
Put IV 25d62.5%52.1%75.6%63.6%55.9%
Bid-Ask Spread %27.7615.7662.8737.2121.97
Gamma HHI0.150.070.450.140.08
Net GEX417.4K-287.4K1.7M330.1K-27.9K
Net DEX-10.0M-33.4M17.2M-7.5M-17.8M
Net VEX-297.4K-357.2K-257.0K-282.7K-357.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.210.128.100.602.00
Total Volume12,466.8644,72451,0057,5588,321
Total OI163,238.727107,580212,592161,108127,283

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-03-02$18.86$19.0061.8%21.0%51.0%45.0%72.5%4.7%-0.3%330.1K-7.5M-282.7K0.6037.21N/AN/A4,7352,82387,50373,605
2026-03-03$18.28$19.0064.0%22.0%47.9%47.9%77.1%5.9%0.2%201.8K2.3M-279.3K0.3062.87N/AN/A10,8423,20290,12175,134
2026-03-04$19.21$19.0062.7%21.9%51.7%46.2%75.0%4.4%-0.7%955.6K-21.6M-292.5K0.2551.86N/AN/A11,1572,73595,33076,227
2026-03-05$19.09$19.0064.0%17.1%50.7%47.9%59.4%2.4%-3.8%1.0M-19.8M-287.5K0.1224.10N/AN/A16,8372,07797,08477,399
2026-03-06$18.24$19.0068.6%18.6%52.5%53.9%68.3%4.9%0.2%684.3K-3.6M-287.2K1.3924.16N/AN/A5,5747,730107,06877,912
2026-03-09$17.96$19.0069.7%19.4%47.0%55.3%68.9%6.3%-0.4%405.7K21.8K-280.2K1.1226.52N/AN/A3,0923,45199,19878,127
2026-03-10$18.20$19.0067.2%18.8%44.7%52.0%65.0%5.7%-0.8%670.1K-5.7M-294.8K0.3745.09N/AN/A5,6862,07999,76879,385
2026-03-11$17.52$19.0066.6%18.8%45.9%51.3%68.4%5.1%-0.1%162.3K9.4M-274.6K1.1826.24N/AN/A2,7943,285101,39280,207
2026-03-12$17.20$19.0068.0%31.1%44.1%53.0%67.0%4.2%-1.1%-121.4K14.4M-270.9K0.5615.76N/AN/A6,6573,721102,54383,198
2026-03-13$16.91$19.0068.5%5.2%43.8%53.7%67.8%1.4%-1.3%-287.4K17.2M-274.0K0.4230.93N/AN/A8,1083,384105,49484,641
2026-03-16$17.06$19.0070.3%20.2%44.4%56.1%70.9%5.3%-3.9%-170.7K11.0M-258.6K1.4126.69N/AN/A1,9632,76198,36681,100
2026-03-17$17.05$19.0067.5%19.6%41.7%52.5%68.4%5.8%-2.9%-256.8K12.2M-257.0K0.3219.78N/AN/A38,59512,41099,14182,757
2026-03-18$17.65$19.0051.9%14.8%44.3%32.2%52.9%3.6%0.6%557.9K-14.0M-318.9K0.7228.11N/AN/A12,8819,221118,67191,427
2026-03-19$18.07$19.0049.9%14.5%45.8%29.6%49.8%4.3%-1.4%1.7M-24.1M-312.7K0.5024.83N/AN/A7,2003,597121,31891,274
2026-03-20$17.82$18.0050.3%14.3%45.0%30.2%50.9%4.8%-3.0%1.5M-21.6M-308.5K0.9117.31N/AN/A5,3424,836122,61589,437
2026-03-23$17.98$18.0049.8%14.4%41.6%29.5%50.5%5.5%-2.0%231.6K-24.0M-306.3K0.7923.95N/AN/A3,0342,40255,21452,366
2026-03-24$18.43$18.0047.4%13.4%43.2%26.4%53.2%4.0%3.4%456.7K-30.1M-314.9K1.6119.54N/AN/A3,5485,72956,99153,040
2026-03-25$18.59$18.0048.1%14.1%42.5%27.3%46.9%5.3%-1.3%605.6K-33.4M-313.8K0.1617.57N/AN/A11,8331,87358,98056,748
2026-03-26$18.39$18.5049.3%14.2%42.3%28.8%52.1%6.1%-0.1%781.4K-30.7M-313.2K2.2019.25N/AN/A1,6963,72362,34957,169
2026-03-27$17.86$18.5048.3%13.8%42.1%27.6%51.4%4.9%0.8%99.6K-21.3M-310.2K8.1025.18N/AN/A1,55612,61162,49758,830
2026-03-30$17.52$18.5051.7%14.6%39.7%31.9%52.5%4.6%-0.7%-283.9K-10.2M-347.7K1.6521.77N/AN/A3,4655,70556,03966,304
2026-03-31$18.09$18.0051.4%14.7%40.3%31.6%49.2%6.8%-0.3%-27.9K-17.8M-357.2K2.0021.97N/AN/A2,7785,54357,88769,396