MARA Options History — March 2023

In March 2023, MARA traded between $5.31 and $8.89. ATM implied volatility averaged 134.0%, placing in the 42.8% IV rank vs the trailing year. The 30-day expected move averaged 38.4%. IV traded below realized volatility by 1.6% (HV 20d: 135.6%). Max pain ranged from $7.00 to $10.00. Net GEX was positive for 16 of 23 trading days. Term structure was in contango for 9 of 23 days. Put/call ratio averaged 0.61.

Notable Days

  • 2023-03-10: Highest Volume — 396,282 contracts
  • 2023-03-13: Largest IV spike — 10.7% change
  • 2023-03-13: Highest IV Rank — 66.0%
  • 2023-03-14: Largest Expected Move — 42.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$7.17$5.31$8.89$6.51$8.61
Max Pain$9.22$7.00$10.00$9.00$10.00
ATM IV134.0%118.4%153.5%138.6%120.0%
Expected Move38.4%33.8%42.7%40.9%34.0%
HV 20d135.6%117.4%149.6%129.7%149.6%
HV 60d147.6%139.9%153.9%143.9%149.8%
IV Rank42.8%23.9%66.0%48.3%25.9%
IV Percentile46.7%9.5%85.7%63.5%11.5%
Term Structure-0.4%-4.0%5.0%-2.3%0.9%
VWIV136.1%120.4%154.4%154.4%120.4%
Skew 25d7.3%0.2%15.7%0.2%5.4%
Skew 10d12.4%-4.4%33.8%-4.4%4.5%
Call IV 25d133.9%117.8%149.0%143.9%118.0%
Put IV 25d141.2%123.4%161.9%144.1%123.4%
Bid-Ask Spread %6.313.388.724.535.40
Gamma HHI0.120.070.340.110.24
Net GEX586.4K-1.3M2.4M-284.5K2.4M
Net DEX-30.9M-139.2M81.9M15.0M-122.4M
Net VEX-839.0K-1.0M-603.4K-748.5K-983.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.610.281.810.650.34
Total Volume183,693.39163,422396,282165,602187,237
Total OI1,027,971.739866,0261,245,6311,001,103963,185

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$6.51$9.00138.6%40.9%129.7%48.3%154.4%0.2%-2.3%-284.5K15.0M-748.5K0.654.53N/AN/A100,57665,026580,858420,245
2023-03-02$6.26$9.00133.5%40.6%126.8%42.3%147.4%3.2%-0.8%-689.8K31.1M-713.8K1.293.74N/AN/A90,183116,623605,138435,766
2023-03-03$6.44$9.00138.9%41.2%126.6%48.6%144.7%3.8%-3.3%228.3K22.2M-743.6K0.933.38N/AN/A110,409102,540637,474472,809
2023-03-06$6.38$7.00132.6%37.1%120.1%41.2%129.2%4.8%-1.8%-266.2K19.5M-725.3K0.517.46N/AN/A89,42645,429568,203449,340
2023-03-07$6.12$7.00129.6%36.8%120.6%37.7%127.4%3.5%-1.2%-602.3K33.1M-686.7K1.174.05N/AN/A44,42151,806588,392461,595
2023-03-08$6.17$7.00125.7%35.8%120.7%33.1%128.2%2.0%0.4%-560.5K29.5M-692.0K0.605.94N/AN/A39,65823,764596,877467,723
2023-03-09$5.51$7.00129.8%36.9%126.3%38.0%131.5%3.3%-2.6%-1.3M56.3M-637.9K0.745.08N/AN/A54,75340,561607,937472,297
2023-03-10$5.31$7.00138.7%40.0%117.4%48.4%144.8%6.2%-1.7%-117.1K81.9M-603.4K1.818.01N/AN/A140,815255,467612,919483,936
2023-03-13$6.81$10.00153.5%42.5%148.1%66.0%152.5%12.0%-4.0%207.7K-8.2M-825.7K0.336.29N/AN/A232,55777,219586,774492,688
2023-03-14$7.01$10.00151.0%42.7%148.1%63.0%149.5%15.0%-1.4%769.0K-32.2M-861.6K0.497.72N/AN/A199,39296,771640,513512,467
2023-03-15$7.03$10.00145.0%41.6%138.3%55.9%144.0%15.7%0.1%801.4K-25.8M-854.0K0.326.05N/AN/A112,17236,255657,436532,962
2023-03-16$7.56$10.00136.2%38.3%128.3%45.5%134.0%9.4%-3.6%1.8M-62.0M-902.1K0.648.72N/AN/A96,31861,247683,286536,217
2023-03-17$8.36$10.00144.8%41.6%128.5%55.7%143.7%8.6%-1.5%1.1M-122.1M-982.5K0.286.12N/AN/A233,71765,486696,755548,876
2023-03-20$7.79$10.00138.2%39.5%130.2%47.9%139.1%11.9%-0.4%1.1M-70.4M-932.0K0.297.04N/AN/A160,92846,688508,240357,786
2023-03-21$8.89$10.00132.9%38.1%136.3%41.6%132.8%10.7%-0.8%1.9M-139.2M-1.0M0.455.99N/AN/A163,08174,076531,573379,984
2023-03-22$7.84$10.00135.2%38.8%144.5%44.3%137.4%6.7%1.9%994.3K-73.6M-956.5K0.338.59N/AN/A166,02354,981548,287399,802
2023-03-23$8.43$10.00134.9%38.7%146.5%44.0%136.4%6.0%-0.8%1.8M-109.2M-1.0M0.388.23N/AN/A138,50052,704568,774404,165
2023-03-24$7.84$10.00133.0%37.9%145.0%41.3%134.5%4.8%2.0%818.4K-61.3M-939.8K0.586.28N/AN/A92,09753,375577,009412,480
2023-03-27$7.20$10.00130.7%37.3%147.6%38.5%133.3%9.2%2.7%504.0K-27.8M-836.8K0.717.77N/AN/A76,60854,675512,361363,355
2023-03-28$7.09$10.00118.4%34.0%147.3%23.9%121.8%8.2%5.0%386.9K-19.1M-827.4K0.495.92N/AN/A45,03121,922526,828378,000
2023-03-29$7.92$10.00121.0%34.2%147.1%26.9%121.1%8.5%2.6%1.2M-67.0M-905.3K0.346.53N/AN/A114,73938,982536,691379,782
2023-03-30$7.79$10.00119.6%33.8%146.3%25.4%121.5%8.0%2.5%1.2M-58.9M-902.4K0.366.30N/AN/A74,19826,512556,099389,466
2023-03-31$8.61$10.00120.0%34.0%149.6%25.9%120.4%5.4%0.9%2.4M-122.4M-983.7K0.345.40N/AN/A140,19347,044568,899394,286