MLN Options History — April 2025

In April 2025, MLN traded between $16.56 and $17.52. ATM implied volatility averaged 44.0%, placing in the 19.4% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded above realized volatility by 29.6% (HV 20d: 14.3%). Max pain ranged from $15.00 to $20.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.01.

Notable Days

2025-04-22: Highest Volume — 285 contracts
2025-04-07: Largest IV spike — 139.1% change
2025-04-07: Highest IV Rank — 71.6%
2025-04-07: Largest Expected Move — 16.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.99	$16.56	$17.52	$17.41	$17.16
Max Pain	$18.00	$15.00	$20.00	$20.00	$16.00
ATM IV	44.0%	27.2%	100.8%	27.2%	45.6%
Expected Move	12.0%	9.2%	16.5%	9.4%	13.1%
HV 20d	14.3%	5.7%	17.5%	5.7%	17.3%
HV 60d	9.6%	5.9%	11.0%	5.9%	11.0%
IV Rank	19.4%	4.1%	71.6%	4.1%	21.0%
IV Percentile	29.6%	2.8%	98.0%	2.8%	43.3%
Term Structure	-8.9%	-17.4%	49.8%	-14.9%	-14.8%
VWIV	38.9%	20.2%	52.9%	36.6%	41.6%
Skew 25d	6.5%	-10.5%	34.7%	-4.7%	-10.5%
Skew 10d	2.5%	-35.8%	32.1%	0.1%	-33.3%
Call IV 25d	33.2%	12.9%	55.1%	14.6%	30.5%
Put IV 25d	39.7%	9.9%	59.9%	9.9%	20.0%
Bid-Ask Spread %	153.04	138.79	171.56	140.75	138.79
Gamma HHI	0.53	0.33	0.95	0.53	0.55
Net GEX	9.9K	2.1K	15.7K	12.1K	15.7K
Net DEX	-79.1K	-142.8K	-11.6K	-74.2K	-114.4K
Net VEX	-308	-631	-62	-277	-479
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.01	0.00	0.07	0.00	0.00
Total Volume	19.143	0	285	0	0
Total OI	391.714	123	510	385	510

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
2025-04-01	$17.41	$20.00	27.2%	9.4%	5.7%	4.1%	0.0%	-4.7%	-14.9%	12.1K	-74.2K	-277	0.00	140.75	N/A	N/A	0	0	384	1
2025-04-02	$17.36	$20.00	34.6%	9.2%	5.7%	10.8%	0.0%	4.2%	-6.1%	11.6K	-64.4K	-236	0.00	142.87	N/A	N/A	0	0	384	1
2025-04-03	$17.52	$20.00	38.8%	12.4%	6.7%	14.7%	0.0%	34.7%	-10.1%	12.3K	-130.8K	-418	0.00	166.13	N/A	N/A	0	0	384	1
2025-04-04	$17.52	$20.00	42.1%	12.4%	6.7%	17.8%	0.0%	34.6%	-11.1%	12.4K	-142.8K	-433	0.00	166.42	N/A	N/A	0	0	384	1
2025-04-07	$16.95	$20.00	100.8%	16.5%	13.4%	71.6%	0.0%	-4.7%	-16.8%	9.9K	-131.8K	-384	0.00	171.36	N/A	N/A	0	0	384	1
2025-04-08	$16.70	$20.00	59.0%	13.3%	14.1%	33.3%	0.0%	4.2%	-11.4%	8.3K	-75.2K	-255	0.00	155.33	N/A	N/A	0	0	384	1
2025-04-09	$16.87	$20.00	55.6%	15.9%	14.7%	30.2%	0.0%	7.2%	-12.5%	8.8K	-75.5K	-259	0.00	171.56	N/A	N/A	0	1	384	1
2025-04-10	$16.76	$20.00	46.3%	13.3%	14.8%	21.6%	0.0%	4.8%	-17.4%	9.0K	-91.4K	-271	0.00	162.14	N/A	N/A	0	0	384	1
2025-04-11	$16.56	$20.00	35.5%	10.2%	15.1%	11.7%	0.0%	2.2%	-9.6%	6.6K	-38.9K	-142	0.00	150.25	N/A	N/A	0	0	384	1
2025-04-14	$16.84	$20.00	35.7%	10.2%	16.6%	11.9%	0.0%	0.3%	-9.8%	8.4K	-59.7K	-159	0.00	152.33	N/A	N/A	0	1	384	1
2025-04-15	$16.91	$20.00	36.3%	10.4%	16.6%	12.4%	36.6%	0.1%	-9.8%	7.5K	-29.1K	-109	0.00	152.63	N/A	N/A	1	0	384	2
2025-04-16	$16.95	$18.00	36.9%	10.6%	16.7%	12.9%	52.9%	0.9%	-10.6%	7.8K	-30.4K	-104	0.00	152.93	N/A	N/A	0	11	385	2
2025-04-17	$16.91	$15.00	37.5%	10.8%	16.6%	13.5%	0.0%	0.5%	49.8%	2.9K	-20.3K	-104	0.00	152.63	N/A	N/A	1	0	385	13
2025-04-21	$16.73	$15.00	39.1%	11.2%	16.9%	14.9%	43.1%	0.3%	-10.8%	2.3K	-13.4K	-72	0.00	148.16	N/A	N/A	1	0	122	1
2025-04-22	$16.73	$15.00	41.3%	11.8%	16.9%	17.0%	20.2%	8.4%	-11.4%	2.1K	-11.6K	-62	0.07	148.84	N/A	N/A	266	19	123	1
2025-04-23	$16.81	$15.00	39.2%	11.2%	17.1%	15.1%	41.6%	15.8%	-10.6%	14.8K	-116.3K	-433	0.00	149.12	N/A	N/A	0	100	389	20
2025-04-24	$16.98	$16.00	40.7%	11.7%	17.5%	16.5%	0.0%	13.2%	-10.3%	12.7K	-110.0K	-631	0.00	151.20	N/A	N/A	1	0	389	120
2025-04-25	$17.02	$16.00	41.6%	11.9%	17.5%	17.3%	0.0%	17.3%	-11.4%	13.2K	-112.8K	-600	0.00	150.62	N/A	N/A	0	0	390	120
2025-04-28	$17.05	$16.00	44.9%	12.9%	17.3%	20.3%	0.0%	16.8%	-13.7%	13.6K	-114.5K	-563	0.00	150.65	N/A	N/A	0	0	390	120
2025-04-29	$17.09	$16.00	44.4%	12.7%	17.3%	19.8%	0.0%	-9.7%	-12.6%	14.9K	-104.3K	-470	0.00	139.09	N/A	N/A	0	0	390	120
2025-04-30	$17.16	$16.00	45.6%	13.1%	17.3%	21.0%	0.0%	-10.5%	-14.8%	15.7K	-114.4K	-479	0.00	138.79	N/A	N/A	0	0	390	120