MAX Options History — November 2024

In November 2024, MAX traded between $11.59 and $16.27. ATM implied volatility averaged 66.5%, placing in the 26.9% IV rank vs the trailing year. The 30-day expected move averaged 17.0%. IV traded below realized volatility by 63.2% (HV 20d: 129.8%). Max pain ranged from $10.00 to $17.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 13 of 20 days. Put/call ratio averaged 0.19.

Notable Days

  • 2024-11-04: Highest Volume — 991 contracts
  • 2024-11-05: Largest IV spike — 72.1% change
  • 2024-11-05: Highest IV Rank — 68.7%
  • 2024-11-27: Largest Expected Move — 19.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.76$11.59$16.27$16.27$12.75
Max Pain$11.00$10.00$17.50$15.00$10.00
ATM IV66.5%42.2%123.3%42.2%62.3%
Expected Move17.0%11.8%19.7%12.1%17.9%
HV 20d129.8%76.7%138.1%77.5%123.2%
HV 60d82.4%54.7%86.0%55.9%85.9%
IV Rank26.9%9.0%68.7%9.0%23.8%
IV Percentile54.0%6.3%97.6%6.3%46.8%
Term Structure2.1%-26.1%28.4%-1.0%-26.1%
VWIV62.9%42.9%84.5%84.5%42.9%
Skew 25d1.9%-31.5%33.4%27.0%25.8%
Skew 10d7.9%-24.1%135.6%-13.7%19.4%
Call IV 25d54.0%31.8%64.9%35.7%44.7%
Put IV 25d55.9%33.5%75.1%62.7%70.5%
Bid-Ask Spread %98.7490.18119.8694.63104.60
Gamma HHI0.350.250.700.400.33
Net GEX35.5K12.1K154.0K154.0K26.2K
Net DEX-751.8K-2.6M508.8K-2.6M-882.8K
Net VEX-5.3K-8.9K-3.3K-7.9K-5.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.190.001.080.780.00
Total Volume273.42699159440
Total OI7,6013,33311,9529,2443,756

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-11-01$16.27$15.0042.2%12.1%77.5%9.0%84.5%27.0%-1.0%154.0K-2.6M-7.9K0.7894.63N/AN/A3332618,338906
2024-11-04$16.00$17.5071.6%11.8%76.7%30.7%0.0%0.5%4.5%142.1K-2.5M-8.9K0.19109.31N/AN/A8361558,6561,149
2024-11-05$11.59$17.50123.3%14.7%136.8%68.7%65.5%23.6%23.5%13.3K508.8K-3.3K0.95119.86N/AN/A3493309,5711,248
2024-11-06$11.88$10.0058.9%13.5%137.1%21.3%64.0%33.4%-0.7%18.1K9.7K-3.8K0.5297.37N/AN/A65349,9121,047
2024-11-07$11.80$10.0067.7%19.5%134.5%27.8%68.3%-31.5%-5.5%13.3K56.2K-3.4K0.0895.69N/AN/A266219,9191,066
2024-11-08$12.20$10.0062.4%16.7%134.5%23.9%65.9%6.9%2.9%12.1K-212.5K-3.8K0.0696.63N/AN/A158109,976911
2024-11-11$12.79$10.0075.6%17.6%136.2%33.6%59.5%-5.8%2.8%22.5K-527.6K-4.6K0.0194.53N/AN/A386310,128907
2024-11-12$12.53$10.0071.5%17.8%135.7%30.6%61.6%-11.1%3.2%29.9K-609.1K-4.5K0.0595.18N/AN/A3251510,411908
2024-11-13$12.62$10.0062.4%17.9%135.7%23.9%58.8%-4.3%3.5%34.7K-934.4K-5.4K0.0194.50N/AN/A241310,721920
2024-11-14$12.32$10.0063.5%18.2%135.4%24.7%65.6%-12.5%-1.3%61.5K-935.4K-5.4K0.0094.53N/AN/A173010,965917
2024-11-15$11.80$10.0062.9%18.0%135.3%24.3%62.7%-15.3%0.9%17.3K-578.8K-4.8K1.0890.81N/AN/A10711611,036916
2024-11-18$11.93$10.0062.6%17.9%135.9%24.1%65.8%6.3%2.4%17.5K-534.0K-4.8K0.0390.18N/AN/A3412,622767
2024-11-19$12.36$10.0064.1%18.4%136.7%25.2%62.1%-13.5%1.4%18.9K-676.1K-5.3K0.0097.90N/AN/A44102,616767
2024-11-20$12.25$10.0067.9%19.5%136.6%28.0%65.5%-13.3%2.8%19.4K-646.8K-5.2K0.0097.26N/AN/A14502,673767
2024-11-21$12.71$10.0064.8%18.6%138.0%25.7%64.0%-7.2%2.0%19.2K-739.1K-5.5K0.0492.18N/AN/A5622,588767
2024-11-22$12.78$10.0049.9%14.3%137.9%14.7%54.3%-6.3%28.4%19.0K-734.8K-5.4K0.00104.28N/AN/A4502,564769
2024-11-25$12.96$10.0064.9%18.6%138.1%25.7%61.7%-0.6%0.7%20.3K-774.1K-5.4K0.0094.07N/AN/A45122,595769
2024-11-26$12.72$10.0063.4%18.2%137.9%24.6%59.9%3.9%-0.9%25.5K-876.9K-5.9K0.00101.72N/AN/A2602,964771
2024-11-27$12.88$10.0068.6%19.7%135.6%28.5%0.0%31.6%-2.1%24.7K-925.8K-6.1K0.00109.64N/AN/A3802,966771
2024-11-29$12.75$10.0062.3%17.9%123.2%23.8%42.9%25.8%-26.1%26.2K-882.8K-5.9K0.00104.60N/AN/A4002,985771