MLN Options History — July 2025

In July 2025, MLN traded between $16.52 and $16.84. ATM implied volatility averaged 36.0%, placing in the 10.1% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded above realized volatility by 32.2% (HV 20d: 3.8%). Max pain ranged from $15.00 to $20.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 0.00.

Notable Days

2025-07-07: Highest Volume — 1 contracts
2025-07-08: Largest IV spike — 111.1% change
2025-07-08: Highest IV Rank — 19.7%
2025-07-31: Largest Expected Move — 13.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.67	$16.52	$16.84	$16.84	$16.63
Max Pain	$15.45	$15.00	$20.00	$15.00	$15.00
ATM IV	36.0%	19.9%	51.4%	40.3%	46.6%
Expected Move	10.2%	6.5%	13.4%	11.5%	13.4%
HV 20d	3.8%	3.2%	4.3%	4.3%	4.2%
HV 60d	6.5%	5.1%	10.7%	10.7%	5.2%
IV Rank	10.1%	0.0%	19.7%	12.8%	16.8%
IV Percentile	25.2%	0.4%	71.0%	28.2%	59.1%
Term Structure	-9.7%	-18.6%	20.6%	-12.2%	-18.6%
Skew 25d	8.3%	-24.0%	41.1%	-13.0%	41.1%
Skew 10d	-6.1%	-43.2%	21.8%	-41.1%	4.3%
Call IV 25d	28.2%	8.9%	54.1%	26.9%	17.8%
Put IV 25d	36.5%	10.9%	58.9%	13.9%	58.9%
Bid-Ask Spread %	146.51	135.39	152.56	138.98	148.25
Gamma HHI	0.66	0.47	0.81	0.66	0.63
Net GEX	3.0K	174	5.7K	5.7K	406
Net DEX	-16.9K	-40.3K	-595	-36.0K	-2.0K
Net VEX	-51	-133	-9	-131	-14
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.182	0	1	0	0
Total OI	158.591	33	247	244	34

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-07-01	$16.84	$15.00	40.3%	11.5%	4.3%	12.8%	0.0%	-13.0%	-12.2%	5.7K	-36.0K	-131	138.98	N/A	N/A	0	0	234	10
2025-07-02	$16.84	$15.00	40.6%	11.7%	4.3%	13.0%	0.0%	19.1%	-9.5%	5.7K	-39.2K	-133	142.59	N/A	N/A	0	0	234	10
2025-07-03	$16.84	$20.00	19.9%	8.2%	4.1%	0.0%	0.0%	-17.1%	-6.8%	5.6K	-19.2K	-82	148.77	N/A	N/A	0	0	234	10
2025-07-07	$16.82	$20.00	24.4%	8.6%	4.1%	2.8%	0.0%	2.0%	-8.0%	5.1K	-15.2K	-57	135.39	N/A	N/A	0	1	234	10
2025-07-08	$16.79	$15.00	51.4%	8.6%	3.7%	19.7%	0.0%	1.8%	-8.0%	5.3K	-29.5K	-87	135.53	N/A	N/A	0	0	234	11
2025-07-09	$16.81	$15.00	30.3%	8.7%	3.6%	6.5%	0.0%	15.4%	-8.2%	5.5K	-40.3K	-108	147.68	N/A	N/A	0	0	234	11
2025-07-10	$16.80	$15.00	30.8%	8.8%	3.6%	6.8%	0.0%	15.7%	-8.5%	5.3K	-19.2K	-60	147.90	N/A	N/A	0	0	234	11
2025-07-11	$16.73	$15.00	30.6%	8.8%	3.9%	6.7%	0.0%	-12.3%	-8.7%	5.3K	-37.9K	-95	144.89	N/A	N/A	0	0	234	11
2025-07-14	$16.73	$15.00	32.0%	9.2%	3.3%	7.6%	0.0%	0.4%	-9.8%	5.3K	-38.7K	-79	152.56	N/A	N/A	0	0	234	11
2025-07-15	$16.70	$15.00	32.5%	9.3%	3.2%	7.9%	0.0%	18.1%	-10.4%	4.9K	-27.9K	-53	146.57	N/A	N/A	1	0	234	11
2025-07-16	$16.66	$15.00	33.7%	9.7%	3.3%	8.7%	0.0%	0.4%	-11.0%	5.1K	-37.4K	-62	151.78	N/A	N/A	0	0	235	11
2025-07-17	$16.56	$15.00	34.3%	9.8%	3.8%	9.0%	0.0%	9.9%	-8.7%	3.6K	-11.6K	-25	145.56	N/A	N/A	0	1	235	11
2025-07-18	$16.52	$15.00	35.5%	10.2%	3.4%	9.8%	0.0%	0.5%	-9.3%	438	-2.4K	-19	151.42	N/A	N/A	0	0	235	12
2025-07-21	$16.59	$15.00	36.9%	10.6%	3.8%	10.6%	0.0%	0.5%	-10.4%	462	-2.6K	-21	151.16	N/A	N/A	0	0	31	2
2025-07-22	$16.57	$15.00	37.6%	10.8%	3.7%	11.1%	0.0%	10.8%	-12.0%	306	-1.2K	-13	146.13	N/A	N/A	1	0	31	2
2025-07-23	$16.54	$15.00	22.5%	6.5%	3.7%	1.6%	0.0%	36.8%	20.6%	174	-595	-9	146.45	N/A	N/A	0	0	32	2
2025-07-24	$16.56	$15.00	40.1%	11.5%	3.8%	12.6%	0.0%	1.0%	-13.3%	480	-2.8K	-19	150.71	N/A	N/A	0	0	32	2
2025-07-25	$16.55	$15.00	40.2%	11.5%	3.7%	12.7%	0.0%	1.1%	-12.5%	466	-2.7K	-19	150.54	N/A	N/A	0	0	32	2
2025-07-28	$16.54	$15.00	43.4%	12.4%	3.7%	14.7%	0.0%	35.2%	-16.0%	356	-1.7K	-13	143.79	N/A	N/A	0	0	32	2
2025-07-29	$16.63	$15.00	43.8%	12.6%	4.1%	15.0%	0.0%	40.0%	-15.3%	410	-2.1K	-15	148.31	N/A	N/A	0	0	32	2
2025-07-30	$16.59	$15.00	45.1%	12.9%	4.1%	15.8%	0.0%	-24.0%	-17.7%	234	-892	-9	148.25	N/A	N/A	0	0	32	2
2025-07-31	$16.63	$15.00	46.6%	13.4%	4.2%	16.8%	0.0%	41.1%	-18.6%	406	-2.0K	-14	148.25	N/A	N/A	0	0	32	2