MAX Options History — June 2022

In June 2022, MAX traded between $8.67 and $10.35. ATM implied volatility averaged 79.2%, placing in the 25.1% IV rank vs the trailing year. The 30-day expected move averaged 21.7%. IV traded above realized volatility by 31.4% (HV 20d: 47.8%). Max pain ranged from $7.50 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 3.33.

Notable Days

2022-06-17: Highest Volume — 55 contracts
2022-06-09: Largest IV spike — 45.5% change
2022-06-06: Highest IV Rank — 46.5%
2022-06-30: Largest Expected Move — 26.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$9.70	$8.67	$10.35	$9.95	$9.82
Max Pain	$9.72	$7.50	$10.00	$7.50	$10.00
ATM IV	79.2%	57.7%	100.6%	68.8%	92.8%
Expected Move	21.7%	16.5%	26.6%	19.7%	26.6%
HV 20d	47.8%	37.5%	58.9%	58.3%	46.4%
HV 60d	50.1%	48.0%	53.8%	53.8%	49.2%
IV Rank	25.1%	3.5%	46.5%	14.6%	38.7%
IV Percentile	51.8%	1.2%	91.9%	22.0%	86.5%
Term Structure	-5.9%	-27.3%	20.4%	17.0%	-26.8%
VWIV	82.1%	58.9%	124.4%	124.4%	88.3%
Skew 25d	16.1%	-15.8%	158.4%	31.3%	17.8%
Skew 10d	44.3%	7.1%	273.2%	61.4%	27.3%
Call IV 25d	81.7%	57.3%	109.3%	57.3%	91.8%
Put IV 25d	97.9%	72.0%	240.5%	88.5%	109.5%
Bid-Ask Spread %	116.01	103.53	140.31	112.89	129.95
Gamma HHI	0.72	0.64	0.80	0.69	0.76
Net GEX	375	239	476	387	395
Net DEX	-10.1K	-13.4K	-6.2K	-12.1K	-8.8K
Net VEX	-63	-76	-50	-76	-54
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.33	0.60	5.11	5.00	0.60
Total Volume	39.571	16	55	54	16
Total OI	50.286	45	53	53	46

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
2022-06-01	$9.95	$7.50	68.8%	19.7%	58.3%	14.6%	124.4%	31.3%	17.0%	387	-12.1K	-76	5.00	112.89	N/A	N/A	9	45	41	12
2022-06-02	$10.05	$0.00	80.5%	20.8%	58.9%	26.3%	0.0%	14.1%	-8.7%	418	-11.9K	-73	5.00	131.85	N/A	N/A	9	45	41	12
2022-06-03	$9.66	$0.00	97.5%	21.2%	58.5%	43.4%	0.0%	14.1%	-4.4%	357	-10.1K	-67	5.00	137.23	N/A	N/A	9	45	41	12
2022-06-06	$9.76	$0.00	100.6%	21.3%	57.6%	46.5%	0.0%	15.6%	-6.6%	364	-9.9K	-65	5.00	140.31	N/A	N/A	9	45	41	12
2022-06-07	$9.82	$0.00	95.6%	22.1%	54.9%	41.5%	0.0%	17.4%	-11.3%	380	-9.5K	-65	5.00	137.57	N/A	N/A	9	45	41	12
2022-06-08	$9.82	$0.00	57.7%	16.5%	48.5%	3.5%	0.0%	1.2%	20.4%	391	-13.4K	-72	5.00	113.03	N/A	N/A	9	45	41	12
2022-06-09	$9.59	$0.00	83.9%	24.1%	37.5%	29.8%	0.0%	4.3%	-23.9%	360	-10.9K	-66	5.00	108.25	N/A	N/A	9	45	41	12
2022-06-10	$9.28	$0.00	76.0%	21.8%	37.5%	21.9%	0.0%	-14.8%	-12.6%	314	-8.4K	-58	5.00	103.86	N/A	N/A	9	45	41	12
2022-06-13	$8.85	$0.00	84.2%	24.1%	40.4%	30.1%	0.0%	4.4%	-21.3%	285	-8.5K	-58	5.00	113.03	N/A	N/A	9	45	41	12
2022-06-14	$8.67	$0.00	91.5%	26.2%	40.1%	37.4%	0.0%	17.6%	9.9%	239	-6.2K	-50	5.00	109.37	N/A	N/A	9	45	41	12
2022-06-15	$9.22	$0.00	66.5%	19.1%	44.3%	12.4%	0.0%	17.2%	-2.8%	314	-8.3K	-57	5.00	115.80	N/A	N/A	9	45	41	12
2022-06-16	$9.07	$0.00	70.4%	20.2%	42.7%	16.3%	0.0%	-15.8%	5.6%	283	-9.0K	-59	5.00	104.22	N/A	N/A	9	45	41	12
2022-06-17	$9.46	$0.00	65.4%	18.7%	45.8%	11.2%	58.9%	10.1%	-10.3%	359	-9.3K	-59	5.11	104.82	N/A	N/A	9	46	41	12
2022-06-21	$9.85	$10.00	62.6%	17.9%	48.3%	8.4%	72.2%	16.6%	-4.3%	400	-10.1K	-60	0.60	109.41	N/A	N/A	10	6	41	4
2022-06-22	$10.00	$10.00	81.2%	23.3%	48.3%	27.1%	87.9%	2.4%	-11.5%	464	-10.3K	-62	0.60	113.07	N/A	N/A	10	6	42	4
2022-06-23	$10.14	$10.00	82.2%	23.6%	47.8%	28.1%	89.8%	-6.6%	1.0%	415	-11.3K	-65	0.60	105.27	N/A	N/A	10	6	42	4
2022-06-24	$10.35	$10.00	73.0%	20.9%	47.9%	18.9%	70.2%	-0.7%	1.2%	476	-11.7K	-65	0.60	104.06	N/A	N/A	10	6	42	4
2022-06-27	$10.15	$10.00	75.5%	21.7%	47.8%	21.4%	77.7%	158.4%	-0.4%	391	-10.5K	-60	0.60	108.91	N/A	N/A	10	6	41	4
2022-06-28	$9.97	$10.00	89.5%	25.7%	46.8%	35.4%	84.0%	14.4%	-27.3%	426	-11.0K	-61	0.60	129.68	N/A	N/A	10	6	42	4
2022-06-29	$10.12	$10.00	67.7%	19.4%	45.2%	13.6%	67.8%	19.8%	-6.1%	464	-10.8K	-62	0.60	103.53	N/A	N/A	10	6	42	5
2022-06-30	$9.82	$10.00	92.8%	26.6%	46.4%	38.7%	88.3%	17.8%	-26.8%	395	-8.8K	-54	0.60	129.95	N/A	N/A	10	6	42	4