MARA Options History — May 2016

In May 2016, MARA traded between $25.92 and $43.20. ATM implied volatility averaged 148.7%, placing in the 55.9% IV rank vs the trailing year. The 30-day expected move averaged 42.3%. IV traded above realized volatility by 80.4% (HV 20d: 68.3%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.23.

Notable Days

2016-05-12: Highest Volume — 7 contracts
2016-05-04: Largest IV spike — 137.1% change
2016-05-12: Highest IV Rank — 78.8%
2016-05-12: Largest Expected Move — 58.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$32.99	$25.92	$43.20	$28.48	$43.20
Max Pain	$40.00	$40.00	$40.00	$40.00	$40.00
ATM IV	148.7%	75.2%	203.9%	192.7%	78.4%
Expected Move	42.3%	21.6%	58.5%	55.2%	22.5%
HV 20d	68.3%	59.3%	81.2%	60.2%	77.1%
HV 60d	61.0%	55.2%	70.6%	55.9%	66.3%
IV Rank	55.9%	23.8%	78.8%	74.2%	25.1%
IV Percentile	61.5%	3.6%	97.2%	95.6%	4.4%
Term Structure	-41.6%	-125.1%	101.1%	-43.4%	-110.8%
VWIV	152.7%	54.5%	197.0%	175.6%	54.5%
Bid-Ask Spread %	144.25	114.40	184.67	141.74	184.67
Gamma HHI	0.97	0.91	1.00	0.96	1.00
Net GEX	397	0	1.0K	266	306
Net DEX	-42.3K	-90.2K	7.9K	-40.2K	-88.2K
Net VEX	-122	-173	0	-138	-57
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.23	0.13	0.39	0.28	0.39
Total Volume	4.857	3	7	4	3
Total OI	32.048	27	37	30	27

Daily Data (21 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
2016-05-02	$28.48	$40.00	192.7%	55.2%	60.2%	74.2%	0.0%	0.0%	-43.4%	266	-40.2K	-138	0.28	141.74	N/A	N/A	3	1	27	3
2016-05-03	$28.32	$40.00	75.2%	21.6%	59.7%	26.7%	0.0%	0.0%	101.1%	250	-43.4K	-140	0.36	142.33	N/A	N/A	2	1	27	3
2016-05-04	$27.68	$40.00	178.4%	51.1%	59.3%	68.4%	0.0%	0.0%	-50.0%	305	-32.5K	-139	0.17	151.87	N/A	N/A	5	1	28	3
2016-05-05	$26.72	$40.00	194.1%	49.0%	60.2%	74.8%	175.6%	0.0%	-27.6%	275	-43.6K	-151	0.16	129.72	N/A	N/A	5	1	31	3
2016-05-06	$25.92	$40.00	143.9%	41.3%	60.4%	54.5%	143.9%	0.0%	-89.6%	0	7.9K	0	0.16	154.27	N/A	N/A	5	1	31	3
2016-05-09	$26.72	$40.00	143.3%	41.1%	61.0%	54.2%	143.3%	0.0%	-7.6%	103	-15.0K	-77	0.16	154.42	N/A	N/A	5	1	31	3
2016-05-10	$27.04	$40.00	142.8%	40.9%	60.2%	54.0%	142.8%	0.0%	-0.2%	98	-15.6K	-76	0.16	154.37	N/A	N/A	5	1	31	3
2016-05-11	$27.20	$40.00	182.3%	52.3%	59.8%	70.0%	182.3%	0.0%	-41.6%	112	-14.8K	-79	0.16	137.71	N/A	N/A	5	1	31	3
2016-05-12	$29.44	$40.00	203.9%	58.5%	66.6%	78.8%	197.0%	0.0%	-78.1%	294	-51.0K	-158	0.13	114.40	N/A	N/A	6	1	31	3
2016-05-13	$30.56	$40.00	165.7%	47.5%	68.0%	63.3%	167.8%	0.0%	-41.7%	406	-49.4K	-173	0.13	146.99	N/A	N/A	6	1	34	3
2016-05-16	$34.40	$40.00	103.2%	29.6%	79.9%	37.6%	103.1%	0.0%	-3.5%	586	-9.3K	-90	0.26	151.41	N/A	N/A	3	1	31	3
2016-05-17	$36.16	$40.00	137.0%	39.3%	79.2%	51.4%	133.5%	0.0%	-48.6%	643	-49.1K	-172	0.33	118.50	N/A	N/A	2	1	31	3
2016-05-18	$34.08	$40.00	195.8%	56.1%	81.2%	75.3%	182.9%	0.0%	-101.8%	422	-49.0K	-154	0.26	129.43	N/A	N/A	3	1	29	3
2016-05-19	$35.36	$40.00	192.6%	55.2%	74.3%	74.0%	184.6%	0.0%	-92.6%	466	-44.8K	-150	0.26	144.55	N/A	N/A	3	1	29	3
2016-05-20	$36.00	$40.00	154.8%	44.4%	73.7%	58.6%	150.9%	0.0%	-90.5%	584	-50.0K	-157	0.26	134.52	N/A	N/A	3	1	29	3
2016-05-23	$36.00	$40.00	171.5%	49.2%	65.7%	65.4%	183.2%	0.0%	33.9%	538	-48.5K	-148	0.29	128.25	N/A	N/A	3	1	29	3
2016-05-24	$36.64	$40.00	162.5%	46.6%	65.6%	61.6%	157.2%	0.0%	26.5%	574	-47.7K	-150	0.17	138.55	N/A	N/A	5	1	28	3
2016-05-25	$37.12	$40.00	141.6%	40.6%	65.6%	52.8%	140.2%	0.0%	-125.1%	655	-46.1K	-143	0.16	167.73	N/A	N/A	5	1	27	3
2016-05-26	$42.72	$40.00	75.3%	21.6%	79.7%	23.8%	54.5%	0.0%	0.0%	1.0K	-66.8K	-138	0.39	170.13	N/A	N/A	2	1	26	3
2016-05-27	$43.04	$40.00	87.9%	25.2%	76.8%	29.1%	0.0%	0.0%	-110.8%	447	-90.2K	-62	0.29	133.77	N/A	N/A	3	1	25	3
2016-05-31	$43.20	$40.00	78.4%	22.5%	77.1%	25.1%	0.0%	0.0%	0.0%	306	-88.2K	-57	0.39	184.67	N/A	N/A	2	1	24	3