MU Options History — October 2007

In October 2007, MU traded between $9.43 and $11.79. ATM implied volatility averaged 37.0%, placing in the 51.5% IV rank vs the trailing year. The 30-day expected move averaged 10.7%. IV traded below realized volatility by 9.6% (HV 20d: 46.6%). Max pain ranged from $10.00 to $12.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 0.71.

Notable Days

2007-10-02: Highest Volume — 81,648 contracts
2007-10-03: Largest IV drop — 29.7% change
2007-10-02: Highest IV Rank — 89.7%
2007-10-02: Largest Expected Move — 14.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.44	$9.43	$11.79	$11.35	$10.51
Max Pain	$10.87	$10.00	$12.00	$12.00	$10.00
ATM IV	37.0%	32.7%	49.3%	47.1%	32.7%
Expected Move	10.7%	9.4%	14.1%	13.5%	9.4%
HV 20d	46.6%	32.8%	50.7%	35.9%	32.8%
HV 60d	41.5%	37.5%	42.7%	37.5%	42.2%
IV Rank	51.5%	38.2%	89.7%	83.0%	38.2%
IV Percentile	64.0%	37.8%	96.3%	92.5%	37.8%
Term Structure	3.0%	-7.6%	6.6%	-3.2%	5.5%
VWIV	37.2%	33.7%	48.8%	48.8%	33.8%
Skew 25d	1.1%	-3.8%	5.3%	-1.7%	4.7%
Skew 10d	4.6%	-14.1%	18.8%	3.4%	5.0%
Call IV 25d	37.7%	31.6%	49.7%	49.7%	31.6%
Put IV 25d	38.8%	35.1%	49.8%	48.0%	36.3%
Bid-Ask Spread %	10.11	6.37	16.01	6.53	13.29
Gamma HHI	0.16	0.13	0.25	0.14	0.18
Net GEX	1.9M	380.4K	4.4M	3.6M	2.6M
Net DEX	3.9M	-114.6M	42.0M	-64.9M	-25.9M
Net VEX	-924.3K	-1.2M	-739.5K	-1.2M	-945.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.71	0.12	1.94	0.31	0.15
Total Volume	22,411.043	4,620	81,648	13,873	12,269
Total OI	649,662.696	551,945	706,942	637,488	608,969

Daily Data (23 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
2007-10-01	$11.35	$12.00	47.1%	13.5%	35.9%	83.0%	48.8%	-1.7%	-3.2%	3.6M	-64.9M	-1.2M	0.31	6.53	N/A	N/A	10,621	3,252	476,048	161,440
2007-10-02	$11.79	$12.00	49.3%	14.1%	38.2%	89.7%	48.2%	5.3%	-7.6%	4.4M	-114.6M	-1.2M	0.22	9.17	N/A	N/A	66,846	14,802	481,471	163,075
2007-10-03	$10.74	$12.00	34.6%	9.9%	50.3%	44.1%	35.5%	-2.5%	2.0%	2.5M	897.0K	-957.3K	0.46	7.48	N/A	N/A	43,361	19,842	506,213	169,153
2007-10-04	$10.61	$12.00	35.1%	10.1%	50.1%	45.6%	37.9%	-3.0%	1.6%	2.2M	11.6M	-947.9K	0.50	12.49	N/A	N/A	28,761	14,357	505,889	169,160
2007-10-05	$10.80	$11.00	35.7%	10.5%	50.7%	47.5%	37.0%	1.8%	3.0%	2.4M	-7.4M	-1.1M	1.84	8.44	N/A	N/A	9,420	17,377	524,105	179,702
2007-10-08	$10.75	$11.00	35.9%	10.6%	49.9%	48.1%	34.9%	1.0%	2.7%	1.8M	4.3M	-1.0M	1.32	13.04	N/A	N/A	4,053	5,354	518,253	185,940
2007-10-09	$10.64	$11.00	35.0%	10.6%	49.9%	45.1%	36.7%	-1.5%	1.8%	1.5M	13.5M	-990.2K	0.42	10.03	N/A	N/A	10,716	4,478	519,478	187,464
2007-10-10	$10.71	$11.00	32.9%	10.0%	48.9%	38.6%	34.8%	1.3%	4.2%	1.9M	521.4K	-982.4K	0.13	12.47	N/A	N/A	21,070	2,749	519,676	176,221
2007-10-11	$10.56	$11.00	35.6%	10.2%	49.0%	47.1%	35.7%	-0.4%	4.1%	1.8M	8.2M	-973.6K	0.39	10.25	N/A	N/A	13,617	5,346	518,573	175,516
2007-10-12	$10.49	$11.00	34.8%	10.0%	48.4%	44.5%	34.1%	2.1%	3.2%	1.5M	21.0M	-919.0K	1.22	7.45	N/A	N/A	3,576	4,375	513,970	175,893
2007-10-15	$10.46	$11.00	35.2%	10.1%	48.3%	45.8%	35.1%	1.5%	6.6%	1.6M	20.7M	-913.5K	0.52	7.82	N/A	N/A	6,075	3,141	515,650	176,671
2007-10-16	$10.43	$11.00	37.0%	10.6%	47.6%	51.6%	35.8%	3.4%	3.5%	1.5M	28.0M	-879.7K	1.23	9.48	N/A	N/A	2,073	2,547	518,253	176,583
2007-10-17	$10.37	$11.00	37.7%	10.8%	47.1%	53.7%	37.3%	3.4%	2.9%	1.7M	32.6M	-861.1K	0.97	10.31	N/A	N/A	4,300	4,163	518,201	176,322
2007-10-18	$10.53	$11.00	33.4%	9.6%	47.3%	40.2%	33.7%	2.5%	5.2%	1.8M	23.9M	-877.4K	0.90	10.76	N/A	N/A	6,958	6,264	519,054	176,714
2007-10-19	$10.08	$11.00	38.1%	10.9%	49.7%	54.8%	36.5%	4.2%	3.1%	380.4K	42.0M	-804.2K	0.20	10.26	N/A	N/A	25,402	5,168	521,277	175,157
2007-10-22	$9.99	$11.00	35.2%	10.1%	49.4%	45.8%	36.5%	0.1%	6.4%	1.9M	4.7M	-820.5K	1.94	16.01	N/A	N/A	8,585	16,618	424,647	127,298
2007-10-23	$9.99	$10.00	36.0%	10.3%	49.3%	48.2%	35.6%	2.6%	5.1%	1.5M	15.0M	-804.8K	1.07	6.37	N/A	N/A	4,069	4,335	422,292	141,255
2007-10-24	$9.78	$10.00	36.2%	10.4%	48.0%	48.8%	36.1%	-0.8%	5.6%	1.4M	20.0M	-820.0K	0.80	15.63	N/A	N/A	7,774	6,213	424,485	143,432
2007-10-25	$9.43	$10.00	38.7%	11.1%	43.7%	56.8%	37.4%	4.5%	5.5%	1.0M	34.7M	-739.5K	1.10	8.60	N/A	N/A	10,236	11,241	428,797	147,460
2007-10-26	$9.76	$10.00	40.4%	11.6%	46.0%	62.1%	39.7%	-3.8%	-0.0%	1.3M	22.0M	-823.8K	0.12	9.38	N/A	N/A	26,976	3,130	432,780	152,158
2007-10-29	$9.99	$10.00	37.1%	10.6%	46.0%	51.9%	37.3%	2.4%	5.0%	1.4M	17.0M	-825.7K	0.18	7.58	N/A	N/A	7,536	1,369	433,334	152,591
2007-10-30	$10.35	$10.00	37.3%	10.7%	45.7%	52.4%	36.3%	-0.9%	3.5%	2.3M	-18.2M	-912.6K	0.29	9.75	N/A	N/A	19,350	5,689	447,028	154,594
2007-10-31	$10.51	$10.00	32.7%	9.4%	32.8%	38.2%	33.8%	4.7%	5.5%	2.6M	-25.9M	-945.4K	0.15	13.29	N/A	N/A	10,714	1,555	452,689	156,280