MAX Options History — July 2024

In July 2024, MAX traded between $12.46 and $14.93. ATM implied volatility averaged 87.0%, placing in the 23.5% IV rank vs the trailing year. The 30-day expected move averaged 24.9%. IV traded above realized volatility by 37.6% (HV 20d: 49.4%). Max pain ranged from $15.00 to $20.00. Net GEX was positive for 11 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 1.04.

Notable Days

  • 2024-07-23: Highest Volume — 5,848 contracts
  • 2024-07-08: Largest IV spike — 48.2% change
  • 2024-07-31: Highest IV Rank — 45.1%
  • 2024-07-31: Largest Expected Move — 39.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.68$12.46$14.93$12.65$14.73
Max Pain$16.70$15.00$20.00$17.50$15.00
ATM IV87.0%54.6%136.3%72.0%136.3%
Expected Move24.9%15.7%39.1%20.6%39.1%
HV 20d49.4%38.1%58.3%51.4%38.1%
HV 60d52.0%48.5%53.5%53.4%48.9%
IV Rank23.5%9.3%45.1%16.9%45.1%
IV Percentile73.5%27.0%97.6%63.9%97.6%
Term Structure-20.4%-64.0%27.5%-6.0%-41.4%
VWIV85.8%44.6%123.6%44.6%123.6%
Skew 25d2.4%-88.7%56.6%34.4%19.9%
Skew 10d12.7%-29.3%72.7%37.4%16.0%
Call IV 25d76.2%48.7%148.1%52.4%103.9%
Put IV 25d78.5%53.4%143.3%86.8%123.9%
Bid-Ask Spread %102.5463.22124.60122.9363.22
Gamma HHI0.510.230.800.550.61
Net GEX26.5K-54.2K146.0K-18.0K141.3K
Net DEX343.0K-4.0M2.5M2.5M-4.0M
Net VEX-3.7K-9.0K-1.4K-2.2K-8.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.040.0011.501.800.42
Total Volume466.45515,84814141
Total OI4,684.0451,7217,9364,7437,936

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-07-01$12.65$17.5072.0%20.6%51.4%16.9%44.6%34.4%-6.0%-18.0K2.5M-2.2K1.80122.93N/AN/A591,9392,804
2024-07-02$12.54$17.5054.6%15.7%51.5%9.3%49.0%-16.3%27.5%-15.9K2.4M-2.9K0.00113.81N/AN/A0121,9442,800
2024-07-03$12.59$17.5072.7%20.8%50.9%17.2%80.5%22.5%-3.4%-16.4K2.5M-2.0K0.00120.72N/AN/A0411,9442,706
2024-07-05$12.52$20.0056.4%17.6%48.0%10.1%63.4%7.3%-11.8%-9.7K2.5M-1.7K0.42113.00N/AN/A1251,9442,747
2024-07-08$12.62$20.0083.5%20.3%47.0%22.0%0.0%15.9%4.4%-15.1K2.3M-1.9K11.50115.65N/AN/A2231,9562,629
2024-07-09$12.72$20.0062.8%20.1%47.9%12.9%0.0%5.8%-2.4%-17.7K2.3M-1.9K0.00122.14N/AN/A0181,9572,649
2024-07-10$12.46$20.0067.6%19.4%47.3%15.0%0.0%8.5%-0.1%-11.0K2.3M-1.7K0.00124.60N/AN/A011,9572,661
2024-07-11$12.73$17.5068.8%19.7%48.5%15.5%55.2%10.5%2.8%-8.9K2.2M-1.4K0.00122.55N/AN/A87511,9572,444
2024-07-12$12.79$17.5069.2%19.8%48.5%15.7%0.0%0.4%-0.9%-12.9K2.0M-1.5K0.00118.88N/AN/A011,2592,362
2024-07-15$13.68$17.5073.2%21.0%54.7%17.5%82.2%14.3%15.7%-31.9K1.9M-2.0K0.00112.28N/AN/A2101,2592,363
2024-07-16$14.34$17.5086.3%24.7%58.3%23.2%89.8%-33.1%-24.5%-54.2K1.2M-1.9K0.0193.92N/AN/A17021,2801,881
2024-07-17$14.02$15.0082.4%23.6%58.1%21.5%82.5%-5.1%-38.2%9.5K1.4M-1.9K0.00113.07N/AN/A4701,4421,883
2024-07-18$13.97$15.0081.3%23.3%57.4%21.0%81.4%0.9%-7.0%9.9K1.4M-1.7K0.00108.12N/AN/A3001,4821,883
2024-07-19$14.24$15.0098.7%28.3%57.4%28.6%99.7%-88.7%-27.5%9.3K1.5M-1.7K0.00108.90N/AN/A1501,5091,883
2024-07-22$14.64$15.00103.1%29.6%58.2%30.6%96.5%-7.5%-39.0%10.9K-127.0K-1.9K0.42104.21N/AN/A33141,253468
2024-07-23$14.93$15.0095.2%27.3%54.3%27.1%94.2%-14.6%-40.1%13.2K-190.3K-2.1K0.0081.62N/AN/A5,84531,285480
2024-07-24$14.50$15.00102.8%29.5%52.5%30.4%102.4%52.3%-57.0%104.3K-2.9M-7.9K0.0595.02N/AN/A644335,600484
2024-07-25$14.41$15.00112.6%32.3%39.0%34.7%106.0%-40.9%-53.1%103.8K-2.9M-8.0K0.0083.27N/AN/A60305,804512
2024-07-26$14.79$15.00114.8%32.9%39.2%35.7%67.9%-27.4%-27.1%119.6K-3.6M-8.9K2.3888.25N/AN/A521246,391512
2024-07-29$14.57$15.00111.3%31.9%40.0%34.1%108.8%56.6%-55.1%126.5K-3.5M-8.3K0.1165.13N/AN/A1,2661356,443513
2024-07-30$14.41$15.00109.4%31.4%38.2%33.3%117.2%36.8%-64.0%146.0K-3.6M-9.0K0.6164.53N/AN/A49307,144700
2024-07-31$14.73$15.00136.3%39.1%38.1%45.1%123.6%19.9%-41.4%141.3K-4.0M-8.9K0.4263.22N/AN/A99427,206730