MU Options History — February 2008

In February 2008, MU traded between $6.69 and $7.86. ATM implied volatility averaged 60.7%, placing in the 61.8% IV rank vs the trailing year. The 30-day expected move averaged 16.3%. IV traded below realized volatility by 18.6% (HV 20d: 79.3%). Max pain ranged from $6.00 to $7.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.54.

Notable Days

  • 2008-02-01: Highest Volume — 57,491 contracts
  • 2008-02-14: Largest IV drop — 23.4% change
  • 2008-02-13: Highest IV Rank — 89.9%
  • 2008-02-12: Largest Expected Move — 18.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$7.42$6.69$7.86$7.81$7.52
Max Pain$6.95$6.00$7.00$6.00$7.00
ATM IV60.7%48.9%79.0%53.3%50.0%
Expected Move16.3%14.0%18.1%15.3%14.3%
HV 20d79.3%70.3%85.7%77.7%77.1%
HV 60d62.5%57.4%64.5%58.1%63.3%
IV Rank61.8%43.7%89.9%50.3%45.4%
IV Percentile88.3%73.8%99.2%88.9%75.0%
Term Structure4.7%0.2%7.5%0.2%6.1%
VWIV58.3%50.0%64.3%56.5%52.1%
Skew 25d5.4%-1.2%21.2%21.2%-1.0%
Skew 10d9.0%-20.2%25.9%22.3%-20.2%
Call IV 25d56.3%43.6%65.1%43.6%54.2%
Put IV 25d61.7%51.0%69.1%64.9%53.2%
Bid-Ask Spread %15.598.2227.4813.7314.13
Gamma HHI0.200.150.350.210.18
Net GEX1.3M962.5K1.7M1.3M1.2M
Net DEX-35.7M-58.1M-22.1M-52.2M-25.6M
Net VEX-577.4K-630.7K-522.8K-575.6K-570.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.540.092.340.160.32
Total Volume15,082.71,33357,49157,4914,390
Total OI431,971.35399,245473,447399,245416,383

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-02-01$7.81$6.0053.3%15.3%77.7%50.3%56.5%21.2%0.2%1.3M-52.2M-575.6K0.1613.73N/AN/A49,7517,740293,718105,527
2008-02-04$7.81$7.0062.1%15.8%70.4%63.9%56.9%7.8%4.5%1.5M-58.1M-584.0K0.4515.06N/AN/A6,9993,146309,696110,506
2008-02-05$7.84$7.0064.8%17.2%70.3%68.1%60.4%4.6%0.9%1.4M-57.7M-588.2K0.1426.69N/AN/A10,6241,483303,820111,595
2008-02-06$6.99$7.0073.0%18.0%82.0%80.6%64.3%4.6%6.5%1.2M-29.3M-522.8K0.1714.94N/AN/A39,3646,851309,003112,272
2008-02-07$7.12$7.0069.7%17.9%82.1%75.5%61.6%4.3%7.0%1.5M-39.6M-589.1K0.6616.15N/AN/A12,6258,303343,485117,046
2008-02-08$6.69$7.0071.7%18.0%85.7%78.7%63.6%2.9%5.6%1.3M-22.1M-545.3K0.2415.08N/AN/A23,8645,826348,482120,856
2008-02-11$6.83$7.0071.1%17.2%85.5%77.7%61.5%3.5%7.5%1.4M-25.5M-533.0K0.5411.07N/AN/A7,8464,268341,784122,875
2008-02-12$7.02$7.0072.4%18.1%85.5%79.6%62.9%4.6%2.8%1.6M-34.6M-561.5K0.4522.76N/AN/A5,5842,525346,773124,608
2008-02-13$7.39$7.0079.0%17.6%80.1%89.9%60.4%6.4%3.3%962.5K-48.2M-583.9K0.2419.44N/AN/A3,956967343,799125,678
2008-02-14$7.17$7.0060.5%17.3%81.2%61.4%60.5%4.3%4.4%1.6M-38.7M-567.2K2.2714.64N/AN/A2,5875,874345,119126,209
2008-02-15$7.13$7.0059.0%16.9%81.2%59.1%58.5%2.9%6.1%1.7M-37.2M-565.1K0.5113.68N/AN/A4,8442,462344,791128,656
2008-02-19$7.52$7.0057.8%16.6%80.6%57.3%61.3%8.1%2.7%987.9K-27.4M-590.1K0.3017.70N/AN/A8,2332,502292,321110,435
2008-02-20$7.81$7.0056.7%16.2%80.4%55.6%58.7%7.5%4.1%1.1M-38.0M-630.7K0.0915.46N/AN/A15,4691,347294,066111,809
2008-02-21$7.38$7.0058.1%16.7%81.3%57.8%55.4%5.4%5.0%1.1M-23.7M-582.2K0.178.22N/AN/A13,2352,306300,517112,420
2008-02-22$7.54$7.0052.1%14.9%80.3%48.6%55.0%5.3%4.8%1.1M-26.8M-580.3K0.6310.93N/AN/A5,6453,580300,935113,169
2008-02-25$7.77$7.0052.6%15.1%76.1%49.4%55.6%8.9%4.3%1.1M-33.9M-601.2K0.2411.38N/AN/A6,3231,534297,712114,736
2008-02-26$7.72$7.0050.2%14.4%76.3%45.6%57.1%7.3%5.5%1.1M-30.0M-584.9K2.3412.42N/AN/A1,7314,045296,348115,312
2008-02-27$7.86$7.0048.9%14.0%75.5%43.7%50.0%0.1%7.3%1.2M-37.6M-615.5K0.1527.48N/AN/A10,8861,606297,094113,278
2008-02-28$7.57$7.0051.6%14.8%77.0%47.8%53.3%-1.2%5.3%1.2M-28.0M-577.6K0.7810.90N/AN/A750583302,773113,821
2008-02-29$7.52$7.0050.0%14.3%77.1%45.4%52.1%-1.0%6.1%1.2M-25.6M-570.6K0.3214.13N/AN/A3,3271,063302,205114,178