MAX Options History — July 2021

In July 2021, MAX traded between $32.41 and $40.97. ATM implied volatility averaged 85.6%. The 30-day expected move averaged 21.4%. IV traded above realized volatility by 38.8% (HV 20d: 46.8%). Max pain ranged from $35.00 to $35.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.50.

Notable Days

  • 2021-07-09: Highest Volume — 48 contracts
  • 2021-07-14: Largest IV drop — 56.5% change
  • 2021-07-01: Largest Expected Move — 34.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.70$32.41$40.97$40.97$33.15
Max Pain$35.00$35.00$35.00$35.00$35.00
ATM IV85.6%65.0%151.7%120.1%76.2%
Expected Move21.4%17.3%34.4%34.4%21.8%
HV 20d46.8%41.4%51.0%49.9%41.4%
Term Structure-1.8%-19.9%16.5%8.8%-9.2%
VWIV72.2%58.9%83.3%62.9%58.9%
Skew 25d-1.1%-20.3%16.9%8.1%-6.8%
Skew 10d8.0%-20.9%37.2%19.4%17.1%
Call IV 25d74.7%58.5%95.2%62.3%77.2%
Put IV 25d73.6%64.0%83.4%70.3%70.4%
Bid-Ask Spread %110.41101.64124.23119.50121.82
Gamma HHI0.260.210.530.210.23
Net GEX248-3.6K2.9K2.9K400
Net DEX-17.7K-134.1K93.9K-134.1K-13.9K
Net VEX-472-524-421-513-430
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.500.002.200.000.00
Total Volume7.19048228
Total OI120.667100167104112

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-07-01$40.97$35.00120.1%34.4%0.0%0.0%62.9%8.1%8.8%2.9K-134.1K-5130.00119.50N/AN/A207529
2021-07-02$39.50$35.0071.0%20.3%49.9%0.0%67.5%-1.1%5.2%2.1K-96.5K-4910.33112.34N/AN/A317529
2021-07-06$39.06$35.0082.9%17.3%48.3%0.0%0.0%-4.3%12.4%1.8K-81.0K-4690.00104.64N/AN/A107430
2021-07-07$37.60$35.00119.7%21.3%48.6%0.0%74.1%-20.3%3.7%1.6K-78.3K-4790.00109.31N/AN/A0127530
2021-07-08$37.14$35.0085.2%21.0%47.2%0.0%0.0%-8.2%1.4%823-49.9K-5000.00105.41N/AN/A207540
2021-07-09$34.87$35.0096.7%19.7%50.2%0.0%0.0%-5.3%0.4%646-37.1K-4592.20101.64N/AN/A15337540
2021-07-12$34.75$35.00118.3%21.8%49.0%0.0%75.7%-13.0%-1.4%-3.6K29.2K-5240.75101.83N/AN/A867971
2021-07-13$32.96$35.00151.7%21.4%51.0%0.0%83.3%-11.8%8.8%-2.8K27.0K-5190.00108.18N/AN/A058672
2021-07-14$32.42$35.0065.9%18.9%49.3%0.0%68.8%-12.0%16.5%-2.8K62.8K-4740.67109.88N/AN/A328672
2021-07-15$32.50$35.0066.6%19.1%47.2%0.0%66.8%12.5%-8.8%2693.9K-4531.00107.86N/AN/A448774
2021-07-16$32.41$35.0066.0%18.9%44.3%0.0%0.0%14.1%9.0%-4690.4K-4551.00107.39N/AN/A229176
2021-07-19$32.86$35.0084.8%24.3%45.1%0.0%82.8%-12.4%-10.9%-511.0K-4470.00105.14N/AN/A105941
2021-07-20$34.07$35.0075.9%21.8%47.4%0.0%80.3%7.6%-9.8%-16-9.4K-4530.00106.37N/AN/A1006041
2021-07-21$34.62$35.0071.5%20.5%48.0%0.0%0.0%10.2%-9.8%825-39.0K-5120.00113.48N/AN/A007041
2021-07-22$33.56$35.0072.5%20.8%47.7%0.0%0.0%7.2%1.0%727-32.6K-4920.00104.24N/AN/A007041
2021-07-23$32.69$35.0072.6%20.8%46.2%0.0%73.5%7.9%-7.2%652-24.8K-4651.00112.53N/AN/A117041
2021-07-26$33.42$35.0079.7%22.8%47.5%0.0%0.0%0.9%-19.9%442-16.2K-4440.00104.57N/AN/A407041
2021-07-27$32.92$35.0065.0%18.6%42.3%0.0%0.0%16.9%-2.2%162-4.0K-4210.00116.24N/AN/A007042
2021-07-28$33.81$35.0079.1%22.7%43.0%0.0%58.9%-13.8%-12.9%649-24.4K-4470.00122.06N/AN/A017042
2021-07-29$33.51$35.0076.2%21.8%42.3%0.0%0.0%0.8%-13.1%796-35.1K-4620.00124.23N/AN/A007042
2021-07-30$33.15$35.0076.2%21.8%41.4%0.0%0.0%-6.8%-9.2%400-13.9K-4300.00121.82N/AN/A2807042