MAX Options History — December 2024

In December 2024, MAX traded between $10.71 and $12.71. ATM implied volatility averaged 59.2%, placing in the 21.5% IV rank vs the trailing year. The 30-day expected move averaged 17.9%. IV traded below realized volatility by 7.7% (HV 20d: 66.9%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.39.

Notable Days

  • 2024-12-02: Highest Volume — 552 contracts
  • 2024-12-09: Largest IV spike — 54.8% change
  • 2024-12-27: Highest IV Rank — 30.3%
  • 2024-12-27: Largest Expected Move — 20.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.27$10.71$12.71$12.71$11.26
Max Pain$10.00$10.00$10.00$10.00$10.00
ATM IV59.2%37.8%71.0%61.7%37.8%
Expected Move17.9%10.8%20.4%17.7%10.8%
HV 20d66.9%51.1%125.5%121.8%65.0%
HV 60d88.5%85.6%90.2%85.8%90.0%
IV Rank21.5%5.8%30.3%23.4%5.8%
IV Percentile40.3%2.8%64.7%45.2%2.8%
Term Structure11.3%-1.6%39.4%0.4%37.0%
VWIV60.9%38.4%70.2%57.3%63.4%
Skew 25d5.9%-18.7%32.8%9.8%8.9%
Skew 10d22.4%-10.1%97.5%11.0%10.3%
Call IV 25d52.9%31.0%67.9%45.5%31.0%
Put IV 25d58.7%38.1%71.0%55.3%39.9%
Bid-Ask Spread %100.7487.57114.13100.39111.64
Gamma HHI0.460.330.540.330.44
Net GEX27.5K23.5K36.5K26.0K26.4K
Net DEX-667.6K-942.5K-462.1K-830.0K-473.9K
Net VEX-5.2K-6.3K-4.1K-5.7K-4.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.390.002.110.022.00
Total Volume122.71425525526
Total OI4,345.8573,7544,6743,7804,128

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2024-12-02$12.71$10.0061.7%17.7%121.8%23.4%57.3%9.8%0.4%26.0K-830.0K-5.7K0.02100.39N/AN/A542103,001779
2024-12-03$11.52$10.0055.0%15.8%125.5%18.5%50.9%3.6%39.4%27.3K-742.8K-5.8K0.12113.81N/AN/A101123,488789
2024-12-04$11.39$10.0065.0%18.6%51.9%25.8%65.1%-18.7%-1.6%28.5K-704.4K-5.6K0.65102.21N/AN/A43283,547791
2024-12-05$11.27$10.0050.8%20.2%51.1%15.4%65.2%13.0%4.0%27.6K-674.3K-5.7K0.2588.39N/AN/A55143,577818
2024-12-06$10.84$10.0042.5%19.5%52.7%9.3%66.0%5.4%0.7%25.4K-493.2K-5.1K0.1991.18N/AN/A120233,600832
2024-12-09$11.82$10.0065.8%19.2%60.6%26.4%66.8%0.9%1.2%32.1K-942.5K-6.3K0.0093.24N/AN/A34213,669834
2024-12-10$11.19$10.0047.0%19.0%60.5%12.6%0.0%10.2%20.3%28.9K-725.4K-5.8K0.0087.57N/AN/A603,835835
2024-12-11$11.27$10.0057.6%16.5%60.4%20.4%0.0%13.4%11.8%30.1K-781.5K-6.0K0.0093.07N/AN/A1503,838835
2024-12-12$10.78$10.0066.6%19.1%61.8%27.0%63.8%1.4%7.4%27.6K-482.3K-4.8K0.0088.78N/AN/A2803,835835
2024-12-13$10.75$10.0070.9%20.3%61.5%30.2%0.0%-1.1%7.3%26.5K-589.5K-5.1K0.5097.40N/AN/A1053,833766
2024-12-16$11.27$10.0067.8%19.5%62.8%27.9%69.3%13.3%8.2%28.9K-753.8K-5.3K0.1696.05N/AN/A5083,842771
2024-12-17$11.57$10.0064.3%18.4%63.5%25.3%66.8%16.6%8.6%36.5K-904.1K-5.6K0.04100.91N/AN/A5323,874779
2024-12-18$11.24$10.0070.3%20.2%62.6%29.7%70.2%11.6%15.4%26.1K-795.9K-5.4K0.00100.03N/AN/A6603,895779
2024-12-19$11.25$10.0066.5%19.1%62.6%26.9%63.3%-7.7%16.5%25.6K-750.2K-5.2K0.00108.53N/AN/A42903,876779
2024-12-20$11.22$10.0066.9%19.2%60.7%27.2%0.0%-5.0%12.5%25.0K-723.9K-4.9K0.50103.40N/AN/A213,765760
2024-12-23$10.71$10.0048.4%13.9%62.2%13.6%38.4%11.2%14.6%23.5K-470.6K-4.1K0.00105.75N/AN/A4503,324430
2024-12-24$10.86$10.0066.4%19.0%62.2%26.8%47.7%32.8%4.7%25.0K-485.2K-4.1K1.63108.62N/AN/A16263,379430
2024-12-26$11.37$10.0049.8%14.3%65.0%14.7%58.8%-8.6%11.3%28.6K-708.5K-4.6K2.11110.07N/AN/A1192513,379453
2024-12-27$11.15$10.0071.0%20.4%64.8%30.3%0.0%8.9%5.4%25.3K-525.7K-5.2K0.00100.38N/AN/A14603,453703
2024-12-30$11.22$10.0050.5%14.5%64.9%15.1%63.4%3.5%11.5%25.8K-462.1K-4.9K0.00114.13N/AN/A203,424703
2024-12-31$11.26$10.0037.8%10.8%65.0%5.8%0.0%8.9%37.0%26.4K-473.9K-4.8K2.00111.64N/AN/A243,425703