MAX Options History — October 2022

In October 2022, MAX traded between $8.85 and $11.15. ATM implied volatility averaged 72.9%, placing in the 6.6% IV rank vs the trailing year. The 30-day expected move averaged 19.8%. IV traded above realized volatility by 18.1% (HV 20d: 54.7%). Max pain ranged from $7.50 to $10.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.36.

Notable Days

2022-10-20: Highest Volume — 70 contracts
2022-10-28: Largest IV spike — 70.7% change
2022-10-10: Highest IV Rank — 16.0%
2022-10-28: Largest Expected Move — 25.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.06	$8.85	$11.15	$9.11	$11.07
Max Pain	$9.88	$7.50	$10.00	$7.50	$10.00
ATM IV	72.9%	52.7%	100.6%	71.8%	71.2%
Expected Move	19.8%	15.1%	25.8%	20.6%	20.4%
HV 20d	54.7%	37.0%	65.3%	65.3%	37.0%
HV 60d	76.5%	65.9%	78.0%	76.6%	65.9%
IV Rank	6.6%	0.0%	16.0%	6.1%	6.3%
IV Percentile	32.0%	0.0%	88.5%	23.8%	22.6%
Term Structure	15.4%	-34.8%	95.7%	-7.1%	-13.6%
VWIV	82.5%	57.7%	115.5%	97.3%	80.9%
Skew 25d	4.5%	-27.6%	26.3%	10.1%	-27.6%
Skew 10d	24.2%	-28.6%	55.3%	51.2%	-28.6%
Call IV 25d	86.3%	64.6%	104.6%	82.8%	93.2%
Put IV 25d	90.8%	65.6%	117.3%	93.0%	65.6%
Bid-Ask Spread %	101.29	74.51	121.25	80.28	104.16
Gamma HHI	0.38	0.23	0.62	0.62	0.38
Net GEX	96	0	401	401	49
Net DEX	-2.9K	-23.1K	1.0K	-23.1K	-3.5K
Net VEX	-31	-44	-27	-44	-34
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.36	0.26	0.80	0.27	0.51
Total Volume	61.238	36	70	66	53
Total OI	37.381	24	63	63	50

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
2022-10-03	$9.11	$7.50	71.8%	20.6%	65.3%	6.1%	97.3%	10.1%	-7.1%	401	-23.1K	-44	0.27	80.28	N/A	N/A	52	14	53	10
2022-10-04	$9.31	$10.00	67.4%	19.3%	62.2%	4.6%	115.5%	3.9%	-1.6%	64	1.0K	-30	0.28	93.09	N/A	N/A	50	14	23	10
2022-10-05	$9.21	$10.00	75.3%	21.6%	59.4%	7.3%	106.9%	4.4%	-34.8%	70	141	-32	0.28	89.84	N/A	N/A	50	14	24	10
2022-10-06	$9.19	$10.00	80.2%	19.4%	57.0%	9.0%	69.7%	5.0%	-27.0%	71	7	-30	0.28	74.51	N/A	N/A	50	14	24	10
2022-10-07	$8.85	$10.00	100.2%	20.9%	58.7%	15.8%	80.0%	14.2%	-13.6%	65	-155	-34	0.28	107.75	N/A	N/A	50	14	24	10
2022-10-10	$9.14	$10.00	100.6%	21.3%	59.8%	16.0%	84.9%	-5.3%	-11.9%	59	760	-30	0.28	110.91	N/A	N/A	50	14	24	10
2022-10-11	$9.70	$10.00	82.4%	19.9%	56.8%	9.7%	77.6%	23.5%	-3.9%	120	-272	-32	0.28	100.84	N/A	N/A	50	14	24	10
2022-10-12	$9.58	$10.00	69.7%	20.0%	57.2%	5.3%	89.6%	-19.0%	-12.0%	98	-1.2K	-32	0.27	121.25	N/A	N/A	52	14	24	10
2022-10-13	$9.60	$10.00	71.6%	20.5%	56.1%	6.0%	86.9%	6.9%	-7.0%	106	-797	-29	0.27	103.35	N/A	N/A	52	14	23	10
2022-10-14	$9.68	$10.00	59.8%	17.1%	55.9%	1.9%	76.3%	3.5%	-8.1%	186	-1.4K	-29	0.27	108.28	N/A	N/A	52	14	23	10
2022-10-17	$10.10	$10.00	63.1%	18.1%	57.1%	3.1%	80.5%	6.9%	0.7%	164	-2.2K	-28	0.27	95.77	N/A	N/A	52	14	23	10
2022-10-18	$10.40	$10.00	53.2%	15.2%	57.5%	0.0%	73.9%	-4.0%	23.4%	130	-3.7K	-30	0.26	102.18	N/A	N/A	53	14	23	10
2022-10-19	$10.39	$10.00	73.3%	21.0%	57.2%	6.9%	82.4%	8.3%	-11.0%	123	-2.5K	-27	0.26	103.75	N/A	N/A	53	14	22	10
2022-10-20	$10.46	$10.00	75.1%	21.5%	57.2%	7.5%	82.0%	8.6%	78.6%	96	-2.9K	-28	0.30	117.68	N/A	N/A	54	16	22	10
2022-10-21	$10.59	$10.00	78.9%	22.6%	57.1%	8.8%	97.0%	16.8%	88.9%	0	-3.8K	-28	0.30	106.14	N/A	N/A	53	16	23	12
2022-10-24	$10.87	$10.00	69.6%	20.0%	56.9%	5.6%	74.1%	13.8%	95.7%	24	-2.3K	-27	0.80	113.77	N/A	N/A	20	16	12	12
2022-10-25	$11.15	$10.00	56.6%	16.2%	57.0%	1.2%	70.6%	-21.3%	89.1%	85	-4.8K	-30	0.53	104.14	N/A	N/A	34	18	20	12
2022-10-26	$10.99	$10.00	67.5%	19.4%	47.0%	4.9%	71.1%	14.2%	82.2%	20	-3.7K	-31	0.53	100.42	N/A	N/A	34	18	34	15
2022-10-27	$10.78	$10.00	52.7%	15.1%	38.6%	0.0%	57.7%	5.2%	28.5%	29	-3.1K	-29	0.51	94.42	N/A	N/A	35	18	34	15
2022-10-28	$11.05	$10.00	90.0%	25.8%	38.4%	12.8%	78.5%	26.3%	-12.9%	53	-4.5K	-30	0.51	94.49	N/A	N/A	35	18	35	15
2022-10-31	$11.07	$10.00	71.2%	20.4%	37.0%	6.3%	80.9%	-27.6%	-13.6%	49	-3.5K	-34	0.51	104.16	N/A	N/A	35	18	35	15