MU Options History — May 2008

In May 2008, MU traded between $8.07 and $8.84. ATM implied volatility averaged 46.1%, placing in the 24.0% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded above realized volatility by 12.4% (HV 20d: 33.7%). Max pain ranged from $6.00 to $8.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 0.91.

Notable Days

  • 2008-05-15: Highest Volume — 37,750 contracts
  • 2008-05-12: Largest IV spike — 30.4% change
  • 2008-05-13: Highest IV Rank — 38.0%
  • 2008-05-09: Largest Expected Move — 13.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.32$8.07$8.84$8.10$8.07
Max Pain$7.81$6.00$8.00$6.00$8.00
ATM IV46.1%36.6%56.4%46.2%44.4%
Expected Move12.8%10.5%13.9%13.2%12.7%
HV 20d33.7%24.8%38.1%37.4%34.0%
HV 60d52.9%50.4%61.0%61.0%50.5%
IV Rank24.0%11.1%38.0%28.1%19.9%
IV Percentile47.8%19.8%71.8%51.6%40.5%
Term Structure4.0%0.3%6.5%2.0%3.7%
VWIV44.0%37.0%48.1%42.7%43.8%
Skew 25d7.6%1.7%21.7%21.7%5.7%
Skew 10d15.2%0.4%35.5%32.7%14.5%
Call IV 25d41.0%31.3%46.1%33.7%44.2%
Put IV 25d48.6%39.6%55.4%55.4%49.9%
Bid-Ask Spread %12.697.3718.8212.439.81
Gamma HHI0.220.180.390.190.18
Net GEX1.1M766.6K1.5M1.2M855.2K
Net DEX-47.3M-83.9M-15.7M-54.9M-15.7M
Net VEX-564.7K-612.8K-288.0K-556.5K-554.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.910.092.310.810.09
Total Volume11,708.8571,34037,75013,77210,389
Total OI431,123.619241,275473,701414,250453,468

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-05-01$8.10$6.0046.2%13.2%37.4%28.1%42.7%21.7%2.0%1.2M-54.9M-556.5K0.8112.43N/AN/A7,5916,181287,236127,014
2008-05-02$8.24$6.0043.7%12.5%37.2%24.1%41.5%20.8%3.6%1.3M-59.6M-574.6K0.2014.55N/AN/A22,3354,569290,705132,209
2008-05-05$8.27$8.0049.5%13.6%36.5%28.7%48.1%7.3%3.2%1.4M-64.4M-589.1K1.0215.24N/AN/A2,7242,789298,251133,339
2008-05-06$8.29$8.0051.3%13.7%34.5%31.1%47.1%6.1%6.5%1.2M-60.4M-575.7K1.2818.82N/AN/A4,2705,481288,865134,677
2008-05-07$8.19$8.0046.9%13.8%34.4%25.1%47.6%2.5%4.4%1.2M-57.1M-574.2K0.7313.44N/AN/A3,6432,648289,325138,258
2008-05-08$8.22$8.0046.3%13.5%33.4%24.3%47.4%4.6%6.5%1.2M-58.5M-572.8K1.9311.56N/AN/A1,6763,231291,273140,183
2008-05-09$8.37$8.0043.0%13.9%32.6%19.8%47.8%5.8%4.4%1.2M-63.5M-580.3K0.3317.26N/AN/A9,4903,114291,373141,792
2008-05-12$8.32$8.0056.1%13.3%30.6%37.6%44.7%6.1%5.8%899.0K-53.8M-288.0K0.4311.76N/AN/A2,040881148,58792,688
2008-05-13$8.33$8.0056.4%12.6%30.7%38.0%45.6%6.6%3.7%1.3M-62.9M-569.0K2.3112.63N/AN/A3,8898,988295,793143,364
2008-05-14$8.54$8.0052.4%11.6%24.8%32.6%42.2%4.0%3.7%1.3M-70.3M-584.7K0.7210.27N/AN/A12,7109,141297,480150,497
2008-05-15$8.84$8.0038.3%11.0%26.3%13.3%39.6%6.3%0.3%1.5M-83.9M-605.0K0.7414.24N/AN/A21,73516,015300,591155,432
2008-05-16$8.84$8.0037.6%10.8%25.8%12.4%37.9%3.6%1.9%1.4M-77.7M-604.9K0.4212.55N/AN/A12,6605,259304,823168,878
2008-05-19$8.76$8.0036.6%10.5%26.4%11.1%37.0%1.7%4.3%1.2M-54.0M-612.8K0.1214.50N/AN/A9,9821,208282,867158,708
2008-05-20$8.21$8.0043.7%12.5%37.1%20.7%40.9%6.1%4.9%838.1K-22.9M-564.9K1.7210.08N/AN/A5,5189,466274,694159,504
2008-05-21$8.36$8.0046.0%13.2%36.9%23.8%45.2%11.8%4.0%842.9K-28.9M-587.6K0.6711.81N/AN/A2,8781,923276,953164,101
2008-05-22$8.16$8.0045.5%13.1%38.1%23.2%45.0%4.8%4.0%766.6K-20.0M-573.1K0.6813.34N/AN/A8,0825,534277,237164,714
2008-05-23$8.21$8.0046.8%13.4%38.0%23.3%45.3%9.0%3.3%846.9K-24.0M-595.9K1.2511.18N/AN/A3,4664,315281,689167,732
2008-05-27$8.14$8.0046.9%13.4%37.4%23.4%45.8%10.7%3.5%851.5K-19.5M-574.2K1.617.37N/AN/A1,3332,142282,266167,576
2008-05-28$8.27$8.0044.6%12.8%37.7%20.3%44.6%6.8%4.0%916.1K-25.0M-572.6K0.9813.60N/AN/A676664282,549167,238
2008-05-29$8.09$8.0046.1%13.2%38.0%22.2%43.8%8.2%5.1%855.6K-16.2M-548.8K0.9910.14N/AN/A2,6322,618282,902166,765
2008-05-30$8.07$8.0044.4%12.7%34.0%19.9%43.8%5.7%3.7%855.2K-15.7M-554.3K0.099.81N/AN/A9,504885284,929168,539