MAX Options History — August 2024

In August 2024, MAX traded between $14.96 and $17.84. ATM implied volatility averaged 53.1%, placing in the 8.9% IV rank vs the trailing year. The 30-day expected move averaged 14.1%. IV traded below realized volatility by 6.4% (HV 20d: 59.5%). Max pain ranged from $15.00 to $17.50. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 2.73.

Notable Days

  • 2024-08-01: Highest Volume — 3,901 contracts
  • 2024-08-28: Largest IV spike — 58.6% change
  • 2024-08-05: Highest IV Rank — 24.8%
  • 2024-08-02: Largest Expected Move — 20.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$16.72$14.96$17.84$16.70$17.70
Max Pain$15.57$15.00$17.50$15.00$15.00
ATM IV53.1%29.9%90.0%72.0%43.9%
Expected Move14.1%8.6%20.8%20.6%12.6%
HV 20d59.5%44.5%63.9%56.4%44.7%
HV 60d55.2%53.6%57.3%55.9%53.6%
IV Rank8.9%0.0%24.8%16.9%6.0%
IV Percentile24.4%0.0%83.3%63.9%4.4%
Term Structure7.6%-14.1%29.0%-14.1%10.1%
VWIV47.5%28.5%78.9%78.9%53.0%
Skew 25d8.7%-15.2%28.2%12.7%11.7%
Skew 10d8.8%-19.2%52.8%-8.8%10.0%
Call IV 25d42.9%27.5%73.2%73.2%34.4%
Put IV 25d51.6%31.8%85.9%85.9%46.0%
Bid-Ask Spread %91.9763.34109.5071.4296.57
Gamma HHI0.570.380.960.590.49
Net GEX101.2K-751326.3K256.9K22.4K
Net DEX-3.2M-8.2M-751.4K-8.2M-1.5M
Net VEX-6.8K-9.5K-3.8K-9.5K-7.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.730.0036.000.311.00
Total Volume440.31833,9013,9018
Total OI5,461.8642,7968,9638,9633,329

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-08-01$16.70$15.0072.0%20.6%56.4%16.9%78.9%12.7%-14.1%256.9K-8.2M-9.5K0.3171.42N/AN/A2,9759268,190773
2024-08-02$16.57$15.0072.5%20.8%56.5%17.2%70.4%25.1%-9.7%170.3K-5.5M-8.7K0.0563.34N/AN/A408226,1711,565
2024-08-05$16.17$17.5090.0%17.8%58.2%24.8%0.0%2.9%5.0%164.1K-4.8M-8.1K0.04104.80N/AN/A6935,9691,561
2024-08-06$16.52$17.5061.4%14.4%58.2%12.3%50.8%-4.8%7.6%171.2K-5.5M-7.1K0.00104.17N/AN/A1,59925,9301,560
2024-08-07$16.12$17.5084.6%17.6%58.5%22.4%43.5%26.2%2.3%170.2K-4.1M-6.3K0.29101.71N/AN/A52155,3571,560
2024-08-08$15.90$17.5082.2%16.2%59.2%21.4%0.0%12.0%-0.8%175.4K-3.7M-6.5K2.33109.50N/AN/A375,3361,571
2024-08-09$15.02$17.5063.1%16.1%63.9%13.0%55.0%21.0%9.8%234.8K-2.1M-5.9K0.0282.67N/AN/A1,250205,3341,571
2024-08-12$14.96$15.0055.1%15.8%60.0%9.5%52.8%-8.2%14.1%326.3K-2.1M-5.0K36.0090.18N/AN/A72525,1861,572
2024-08-13$15.91$15.0044.3%16.1%61.6%4.8%0.0%12.7%6.8%126.3K-4.4M-3.8K0.2996.58N/AN/A725,1901,813
2024-08-14$16.65$15.0053.3%15.3%62.3%8.7%47.1%14.3%7.6%154.7K-5.8M-7.2K0.0175.03N/AN/A28536,0581,815
2024-08-15$17.20$15.0046.4%13.3%62.6%5.7%50.0%28.2%2.9%172.3K-6.3M-6.8K0.0284.83N/AN/A37476,0421,816
2024-08-16$17.01$15.0045.0%12.9%63.0%5.1%40.6%1.0%-13.1%2.2K-5.8M-6.8K0.0299.89N/AN/A30765,9781,818
2024-08-19$16.76$15.0034.3%9.8%63.1%0.4%28.5%21.6%22.9%26-751.4K-6.7K0.0092.77N/AN/A25201,5621,306
2024-08-20$17.00$15.0044.7%12.8%63.0%5.0%45.0%7.7%11.7%-751-794.1K-6.5K0.6965.26N/AN/A1391,4901,306
2024-08-21$17.16$15.0043.8%12.5%61.6%4.5%48.0%6.1%6.9%2.1K-950.4K-6.4K0.0284.72N/AN/A5011,5011,313
2024-08-22$16.87$15.0034.6%9.9%62.0%0.5%49.0%-0.2%29.0%-467-881.4K-6.5K4.3887.98N/AN/A8351,5431,312
2024-08-23$17.49$15.0044.4%12.7%62.5%4.8%34.7%-2.9%17.3%5.9K-1.0M-6.6K0.0695.96N/AN/A350221,5431,346
2024-08-26$17.84$15.0037.3%10.7%62.0%1.7%0.0%16.1%23.4%21.9K-1.5M-6.8K0.50108.04N/AN/A211,8431,344
2024-08-27$17.58$15.0029.9%8.6%62.2%0.0%30.1%-15.2%24.8%15.7K-1.3M-7.0K0.00107.28N/AN/A401,8411,345
2024-08-28$17.41$15.0047.4%13.6%62.4%7.6%47.0%-2.9%-0.9%15.0K-1.3M-7.0K0.01102.78N/AN/A31421,8381,345
2024-08-29$17.39$15.0037.6%10.8%44.5%3.3%30.1%5.7%3.0%19.7K-1.4M-7.2K14.0097.93N/AN/A1141,9711,347
2024-08-30$17.70$15.0043.9%12.6%44.7%6.0%53.0%11.7%10.1%22.4K-1.5M-7.1K1.0096.57N/AN/A441,9701,359