MARA Options History — February 2016

In February 2016, MARA traded between $29.92 and $38.56. ATM implied volatility averaged 139.1%, placing in the 52.5% IV rank vs the trailing year. The 30-day expected move averaged 37.1%. IV traded above realized volatility by 69.2% (HV 20d: 69.9%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.24.

Notable Days

2016-02-25: Highest Volume — 9 contracts
2016-02-08: Largest IV spike — 427.4% change
2016-02-09: Highest IV Rank — 79.3%
2016-02-02: Largest Expected Move — 52.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$35.61	$29.92	$38.56	$30.72	$36.16
Max Pain	$40.00	$40.00	$40.00	$40.00	$40.00
ATM IV	139.1%	36.5%	205.4%	173.5%	130.3%
Expected Move	37.1%	10.5%	52.6%	49.7%	37.4%
HV 20d	69.9%	60.5%	76.4%	67.9%	61.4%
HV 60d	91.9%	80.3%	102.4%	98.4%	80.3%
IV Rank	52.5%	11.0%	79.3%	66.4%	49.0%
IV Percentile	63.2%	5.5%	97.0%	87.2%	60.0%
Term Structure	-7.7%	-89.8%	162.8%	-73.0%	14.2%
VWIV	112.3%	36.5%	148.0%	114.3%	110.2%
Bid-Ask Spread %	143.92	124.63	189.22	140.82	189.22
Gamma HHI	1.00	0.99	1.00	1.00	1.00
Net GEX	311	164	770	177	411
Net DEX	-25.9K	-41.1K	-16.1K	-16.1K	-39.8K
Net VEX	-111	-150	-84	-98	-146
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.24	0.10	0.48	0.48	0.10
Total Volume	5.2	3	9	3	9
Total OI	17.5	16	24	16	24

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2016-02-01	$30.72	$0.00	173.5%	49.7%	67.9%	66.4%	0.0%	0.0%	-73.0%	177	-16.1K	-98	0.48	140.82	N/A	N/A	2	1	13	3
2016-02-02	$29.92	$0.00	183.3%	52.6%	69.0%	70.4%	0.0%	0.0%	-89.8%	164	-17.7K	-91	0.48	137.49	N/A	N/A	2	1	13	3
2016-02-03	$31.04	$0.00	176.2%	50.5%	68.6%	67.5%	0.0%	0.0%	-51.8%	172	-19.0K	-95	0.48	142.56	N/A	N/A	2	1	13	3
2016-02-04	$35.36	$40.00	157.3%	33.7%	76.4%	59.9%	114.3%	0.0%	-19.2%	261	-22.3K	-108	0.33	133.32	N/A	N/A	2	1	13	3
2016-02-05	$36.80	$40.00	36.5%	10.5%	76.0%	11.0%	36.5%	0.0%	162.8%	770	-18.6K	-84	0.21	143.91	N/A	N/A	4	1	14	3
2016-02-08	$36.16	$40.00	192.3%	34.5%	76.3%	74.0%	116.5%	0.0%	-17.4%	294	-25.8K	-119	0.21	132.24	N/A	N/A	4	1	14	3
2016-02-09	$36.00	$40.00	205.4%	36.1%	75.7%	79.3%	122.8%	0.0%	-28.2%	297	-26.2K	-117	0.21	133.71	N/A	N/A	4	1	14	3
2016-02-10	$35.04	$40.00	148.0%	42.4%	74.7%	56.1%	148.0%	0.0%	17.4%	174	-28.1K	-100	0.21	143.41	N/A	N/A	4	1	14	3
2016-02-11	$34.08	$40.00	111.5%	32.0%	76.2%	41.3%	108.2%	0.0%	2.3%	246	-23.4K	-109	0.21	145.30	N/A	N/A	4	1	14	3
2016-02-12	$34.88	$40.00	121.9%	34.9%	76.2%	45.6%	114.8%	0.0%	-17.7%	292	-23.6K	-113	0.21	125.64	N/A	N/A	4	1	14	3
2016-02-16	$36.00	$40.00	126.2%	36.2%	75.2%	47.3%	119.0%	0.0%	-18.1%	310	-24.4K	-113	0.21	142.26	N/A	N/A	4	1	14	3
2016-02-17	$37.28	$40.00	136.1%	39.0%	75.2%	51.3%	137.6%	0.0%	-49.4%	316	-27.2K	-112	0.21	124.63	N/A	N/A	4	1	14	3
2016-02-18	$38.24	$40.00	119.2%	34.2%	71.8%	44.5%	118.0%	0.0%	-19.8%	353	-26.9K	-117	0.21	137.03	N/A	N/A	4	1	14	3
2016-02-19	$38.56	$40.00	120.8%	34.6%	71.7%	45.1%	119.6%	0.0%	-22.7%	360	-27.1K	-118	0.21	137.03	N/A	N/A	4	1	14	3
2016-02-22	$38.56	$40.00	128.3%	36.8%	61.7%	48.2%	97.2%	0.0%	16.0%	294	-29.0K	-113	0.21	125.25	N/A	N/A	4	1	14	3
2016-02-23	$36.80	$40.00	125.3%	35.9%	62.4%	46.9%	90.9%	0.0%	21.9%	278	-25.9K	-109	0.21	157.49	N/A	N/A	4	1	14	3
2016-02-24	$36.96	$40.00	120.2%	34.5%	60.5%	44.9%	102.6%	0.0%	22.6%	306	-28.2K	-103	0.21	179.76	N/A	N/A	4	1	14	3
2016-02-25	$36.96	$40.00	135.8%	38.9%	60.7%	51.2%	128.5%	0.0%	-6.4%	319	-28.1K	-103	0.10	156.09	N/A	N/A	8	1	14	3
2016-02-26	$36.64	$40.00	134.3%	38.5%	60.8%	50.6%	125.0%	0.0%	2.1%	424	-41.1K	-150	0.10	151.20	N/A	N/A	8	1	21	3
2016-02-29	$36.16	$40.00	130.3%	37.4%	61.4%	49.0%	110.2%	0.0%	14.2%	411	-39.8K	-146	0.10	189.22	N/A	N/A	8	1	21	3