MAX Options History — October 2021

In October 2021, MAX traded between $16.54 and $19.25. ATM implied volatility averaged 79.3%. The 30-day expected move averaged 21.2%. IV traded above realized volatility by 12.9% (HV 20d: 66.4%). Max pain ranged from $20.00 to $22.50. Net GEX was positive for 11 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.11.

Notable Days

  • 2021-10-18: Highest Volume — 201 contracts
  • 2021-10-04: Largest IV spike — 55.8% change
  • 2021-10-04: Largest Expected Move — 25.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.09$16.54$19.25$17.86$17.63
Max Pain$22.38$20.00$22.50$20.00$22.50
ATM IV79.3%59.1%127.3%81.7%76.6%
Expected Move21.2%16.9%25.2%23.4%22.0%
HV 20d66.4%45.4%71.2%45.4%68.3%
HV 60d58.2%51.1%59.8%51.1%59.5%
Term Structure-2.1%-26.7%15.8%-26.7%-2.5%
VWIV67.3%53.2%77.6%53.2%76.0%
Skew 25d5.8%-7.9%38.1%16.7%-4.6%
Skew 10d17.5%2.9%55.0%5.0%15.3%
Call IV 25d67.1%46.0%85.2%54.2%85.2%
Put IV 25d72.9%60.0%112.4%70.8%80.6%
Bid-Ask Spread %111.55102.93134.75134.75113.60
Gamma HHI0.560.260.760.610.57
Net GEX-316-15.1K8.3K-5.8K7.4K
Net DEX26.2K-261.3K291.7K230.6K-200.6K
Net VEX-902-1.2K-649-813-1.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.110.000.190.000.18
Total Volume49.23802011297
Total OI475.714275525507470

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2021-10-01$17.86$20.0081.7%23.4%45.4%0.0%53.2%16.7%-26.7%-5.8K230.6K-8130.00134.75N/AN/A120282225
2021-10-04$16.54$22.50127.3%25.2%49.1%0.0%0.0%38.1%-8.4%-3.1K200.1K-7920.00122.95N/AN/A00282225
2021-10-05$18.43$22.5073.3%24.3%64.3%0.0%0.0%-7.9%-17.2%-7.6K206.2K-8850.09112.27N/AN/A222280225
2021-10-06$17.81$22.5088.4%20.4%64.6%0.0%73.2%3.3%2.3%-6.0K238.0K-7950.00107.70N/AN/A02280225
2021-10-07$18.88$22.5081.8%23.0%68.8%0.0%0.0%20.7%-5.0%-7.4K166.0K-9210.00102.93N/AN/A00299224
2021-10-08$18.25$22.5082.9%22.4%69.5%0.0%70.5%-4.8%-4.3%-7.0K223.3K-8600.00109.39N/AN/A20299226
2021-10-11$17.65$22.50109.5%21.9%70.0%0.0%0.0%-3.0%0.5%-5.0K219.2K-7820.00107.75N/AN/A00294226
2021-10-12$18.09$22.5099.1%20.1%69.5%0.0%67.8%9.6%2.2%-6.9K244.5K-7540.00109.35N/AN/A02296226
2021-10-13$18.76$22.5074.1%21.2%70.8%0.0%0.0%1.5%2.4%-11.0K206.6K-7710.00107.33N/AN/A10296226
2021-10-14$19.20$22.5071.8%20.6%71.2%0.0%0.0%6.0%11.6%-15.1K175.3K-8290.00106.66N/AN/A00296227
2021-10-15$19.25$22.5074.7%21.4%71.2%0.0%71.3%8.2%-3.2%2.9K291.7K-7740.00107.12N/AN/A10296227
2021-10-18$19.18$22.5076.4%21.9%65.9%0.0%0.0%12.0%-4.8%2.9K-96.9K-7480.00106.05N/AN/A201025718
2021-10-19$18.52$22.5059.1%16.9%66.9%0.0%0.0%-2.8%6.7%2.7K-74.5K-6490.00110.78N/AN/A0025818
2021-10-20$18.16$22.5067.8%19.4%67.2%0.0%62.6%4.9%-0.2%7.9K-232.8K-1.2K0.17109.57N/AN/A89154598
2021-10-21$18.82$22.5061.6%17.7%68.6%0.0%64.3%1.8%15.8%8.3K-261.3K-1.2K0.17109.72N/AN/A89154638
2021-10-22$18.26$22.5063.1%18.1%68.5%0.0%57.5%5.1%4.5%8.2K-252.3K-1.2K0.19113.23N/AN/A81154638
2021-10-25$17.62$22.5079.7%22.8%68.9%0.0%75.1%-1.7%-2.4%7.3K-226.0K-1.1K0.18113.64N/AN/A82154618
2021-10-26$17.03$22.5077.2%22.1%68.2%0.0%77.6%-2.1%-1.2%6.8K-200.4K-1.0K0.18113.61N/AN/A82154618
2021-10-27$16.69$22.5060.4%17.3%68.1%0.0%60.1%0.6%-0.7%6.6K-152.3K-8860.18114.97N/AN/A82154628
2021-10-28$17.25$22.5078.4%22.5%69.5%0.0%66.3%20.9%-13.5%7.0K-153.1K-8770.18109.24N/AN/A82154628
2021-10-29$17.63$22.5076.6%22.0%68.3%0.0%76.0%-4.6%-2.5%7.4K-200.6K-1.0K0.18113.60N/AN/A82154628