MAX Options History — August 2022

In August 2022, MAX traded between $7.88 and $12.13. ATM implied volatility averaged 94.7%, placing in the 23.9% IV rank vs the trailing year. The 30-day expected move averaged 27.0%. IV traded above realized volatility by 2.3% (HV 20d: 92.3%). Max pain ranged from $7.50 to $12.50. Net GEX was positive for 6 of 23 trading days. Term structure was in contango for 7 of 23 days. Put/call ratio averaged 0.90.

Notable Days

2022-08-03: Highest Volume — 39 contracts
2022-08-22: Largest IV spike — 333.4% change
2022-08-18: Highest IV Rank — 100.0%
2022-08-22: Largest Expected Move — 98.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$9.27	$7.88	$12.13	$12.02	$8.35
Max Pain	$8.03	$7.50	$12.50	$10.00	$7.50
ATM IV	94.7%	59.6%	344.6%	84.4%	85.7%
Expected Move	27.0%	14.4%	98.8%	24.2%	24.6%
HV 20d	92.3%	39.9%	109.3%	48.8%	108.4%
HV 60d	68.6%	51.6%	75.1%	54.3%	74.7%
IV Rank	23.9%	4.9%	100.0%	27.1%	10.9%
IV Percentile	56.5%	3.6%	100.0%	74.2%	75.8%
Term Structure	-9.4%	-92.3%	53.2%	-19.3%	3.2%
VWIV	86.3%	72.8%	99.5%	86.9%	81.7%
Skew 25d	-9.9%	-118.5%	37.5%	4.9%	-4.1%
Skew 10d	-10.0%	-205.9%	122.7%	0.6%	122.7%
Call IV 25d	108.5%	64.2%	239.9%	86.1%	85.8%
Put IV 25d	98.6%	53.9%	277.5%	91.0%	81.7%
Bid-Ask Spread %	117.11	88.88	148.49	110.39	105.32
Gamma HHI	0.51	0.26	0.94	0.94	0.41
Net GEX	97	-208	906	768	-30
Net DEX	-794	-20.4K	8.8K	-20.4K	2.5K
Net VEX	-42	-58	-35	-44	-36
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.90	0.00	1.67	1.40	1.67
Total Volume	11.043	0	39	24	24
Total OI	54.739	26	82	45	26

Daily Data (23 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
2022-08-01	$12.02	$10.00	84.4%	24.2%	48.8%	27.1%	86.9%	4.9%	-19.3%	768	-20.4K	-44	1.40	110.39	N/A	N/A	10	14	38	7
2022-08-02	$11.72	$12.50	72.5%	20.8%	42.8%	16.5%	76.2%	18.4%	-4.5%	595	-12.3K	-51	1.17	114.58	N/A	N/A	12	14	38	17
2022-08-03	$11.75	$10.00	90.4%	25.9%	40.8%	32.5%	94.9%	15.3%	53.2%	732	-19.0K	-41	1.60	110.64	N/A	N/A	15	24	40	7
2022-08-04	$12.13	$0.00	70.2%	14.4%	39.9%	14.4%	0.0%	-1.0%	17.7%	906	-19.9K	-58	1.14	110.09	N/A	N/A	14	16	43	19
2022-08-05	$10.02	$0.00	59.6%	17.5%	79.9%	4.9%	0.0%	-54.7%	17.2%	-125	3.2K	-44	1.29	124.70	N/A	N/A	14	18	47	21
2022-08-08	$9.39	$0.00	72.1%	21.2%	82.7%	16.1%	0.0%	-118.5%	-3.4%	-208	7.6K	-35	1.33	106.49	N/A	N/A	15	20	47	20
2022-08-09	$7.88	$0.00	84.2%	25.2%	101.6%	27.0%	99.5%	10.3%	5.2%	-91	8.8K	-41	0.73	88.88	N/A	N/A	11	8	48	23
2022-08-10	$8.11	$7.50	74.6%	21.4%	102.3%	18.4%	72.8%	13.6%	-3.5%	91	487	-46	0.00	101.97	N/A	N/A	19	0	59	23
2022-08-11	$8.49	$7.50	74.7%	21.4%	104.1%	18.4%	0.0%	-8.2%	-13.8%	-2	4.0K	-45	0.00	99.79	N/A	N/A	2	0	56	23
2022-08-12	$8.73	$7.50	82.4%	23.6%	104.5%	25.4%	92.2%	-29.7%	-5.4%	20	2.7K	-49	0.50	124.10	N/A	N/A	2	1	58	23
2022-08-15	$8.91	$7.50	93.0%	26.7%	105.0%	34.9%	0.0%	-65.7%	-14.4%	-29	3.4K	-42	0.00	148.49	N/A	N/A	0	0	58	23
2022-08-16	$9.11	$7.50	65.4%	18.7%	104.2%	10.1%	0.0%	-74.7%	9.0%	-29	3.2K	-44	0.00	117.78	N/A	N/A	0	0	58	23
2022-08-17	$8.89	$7.50	70.5%	20.2%	102.0%	14.7%	0.0%	17.2%	-1.4%	-37	3.9K	-41	0.00	135.47	N/A	N/A	0	0	58	23
2022-08-18	$9.00	$7.50	180.7%	51.8%	100.9%	100.0%	0.0%	-19.4%	-91.0%	-43	-1.2K	-40	0.00	133.24	N/A	N/A	1	0	58	17
2022-08-19	$8.62	$7.50	79.5%	22.8%	101.3%	20.0%	0.0%	17.5%	-12.0%	-29	-1.0K	-40	0.00	138.13	N/A	N/A	0	0	59	17
2022-08-22	$8.00	$7.50	344.6%	98.8%	103.2%	100.0%	0.0%	37.5%	-92.3%	-26	2.4K	-40	0.00	146.20	N/A	N/A	0	0	11	15
2022-08-23	$8.62	$7.50	72.4%	20.8%	108.5%	6.3%	0.0%	20.7%	-2.6%	-46	2.5K	-39	0.00	109.64	N/A	N/A	0	0	11	15
2022-08-24	$8.88	$7.50	76.2%	21.8%	109.3%	7.6%	0.0%	-10.3%	3.7%	-43	1.3K	-42	0.00	114.67	N/A	N/A	0	0	11	15
2022-08-25	$8.97	$7.50	85.3%	24.5%	108.1%	10.7%	0.0%	3.5%	-12.1%	-37	1.9K	-40	0.00	113.41	N/A	N/A	0	0	11	15
2022-08-26	$8.55	$7.50	94.5%	27.1%	108.5%	13.9%	0.0%	2.4%	-21.0%	-40	2.5K	-36	0.00	114.33	N/A	N/A	0	0	11	15
2022-08-29	$8.49	$7.50	84.1%	24.1%	108.5%	10.3%	0.0%	-5.0%	-27.2%	-42	2.8K	-37	0.00	116.31	N/A	N/A	0	0	11	15
2022-08-30	$8.47	$7.50	79.8%	22.9%	108.6%	8.8%	0.0%	2.2%	-1.0%	-34	2.5K	-38	0.00	108.90	N/A	N/A	0	0	11	15
2022-08-31	$8.35	$7.50	85.7%	24.6%	108.4%	10.9%	81.7%	-4.1%	3.2%	-30	2.5K	-36	1.67	105.32	N/A	N/A	9	15	11	15