MU Options History — December 2010

In December 2010, MU traded between $7.39 and $8.28. ATM implied volatility averaged 43.4%, placing in the 28.4% IV rank vs the trailing year. The 30-day expected move averaged 13.4%. IV traded above realized volatility by 3.1% (HV 20d: 40.3%). Max pain ranged from $7.50 to $9.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.67.

Notable Days

2010-12-06: Highest Volume — 104,449 contracts
2010-12-23: Largest IV drop — 24.0% change
2010-12-01: Highest IV Rank — 44.2%
2010-12-06: Largest Expected Move — 16.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.98	$7.39	$8.28	$7.39	$8.02
Max Pain	$8.59	$7.50	$9.00	$8.00	$9.00
ATM IV	43.4%	37.0%	50.2%	50.2%	40.2%
Expected Move	13.4%	10.6%	16.1%	14.4%	11.5%
HV 20d	40.3%	26.7%	51.7%	44.8%	26.7%
HV 60d	43.9%	40.5%	50.2%	48.6%	40.7%
IV Rank	28.4%	13.7%	44.2%	44.2%	21.2%
IV Percentile	20.8%	1.2%	60.7%	60.7%	5.2%
Term Structure	1.2%	-2.8%	8.8%	2.9%	1.8%
VWIV	47.2%	38.9%	56.7%	49.8%	43.4%
Skew 25d	2.5%	-5.0%	25.1%	2.0%	-4.3%
Skew 10d	5.5%	-14.8%	30.9%	0.5%	7.1%
Call IV 25d	47.8%	41.3%	54.4%	49.8%	44.6%
Put IV 25d	50.3%	36.3%	72.1%	51.7%	40.3%
Bid-Ask Spread %	3.02	2.10	5.41	4.14	2.10
Gamma HHI	0.22	0.17	0.29	0.17	0.23
Net GEX	3.6M	1.7M	6.0M	2.2M	2.8M
Net DEX	-68.3M	-120.1M	-16.7M	-21.2M	-56.6M
Net VEX	-1.2M	-1.4M	-1.0M	-1.2M	-1.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.09	2.94	0.31	0.77
Total Volume	34,682.773	7,392	104,449	18,374	23,452
Total OI	1,160,825.227	1,067,941	1,238,286	1,154,708	1,156,276

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	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2010-12-01	$7.39	$8.00	50.2%	14.4%	44.8%	44.2%	49.8%	2.0%	2.9%	2.2M	-21.2M	-1.2M	0.31	4.14	N/A	N/A	14,068	4,306	826,610	328,098
2010-12-02	$7.91	$8.00	46.2%	13.2%	51.7%	34.9%	47.2%	-0.6%	8.8%	3.5M	-88.2M	-1.4M	0.52	5.41	N/A	N/A	50,549	26,101	833,501	329,553
2010-12-03	$7.92	$8.00	45.9%	13.2%	47.1%	34.2%	46.4%	3.5%	8.3%	3.8M	-89.7M	-1.4M	0.39	3.45	N/A	N/A	17,366	6,809	839,711	322,846
2010-12-06	$7.96	$7.50	46.9%	16.1%	46.9%	36.6%	56.7%	4.7%	-1.8%	4.0M	-91.7M	-1.3M	0.28	3.48	N/A	N/A	81,374	23,075	841,618	323,604
2010-12-07	$7.92	$7.50	44.7%	15.6%	43.9%	31.4%	54.0%	3.2%	-1.0%	4.4M	-75.6M	-1.3M	0.23	2.54	N/A	N/A	18,866	4,411	895,312	342,974
2010-12-08	$7.94	$7.50	42.6%	15.3%	41.3%	26.8%	53.0%	3.3%	-0.8%	4.2M	-77.8M	-1.3M	0.19	3.38	N/A	N/A	11,547	2,231	845,994	333,686
2010-12-09	$8.19	$7.50	40.7%	15.5%	42.6%	22.2%	52.6%	4.1%	-1.5%	4.7M	-107.7M	-1.3M	0.20	3.07	N/A	N/A	26,186	5,297	837,385	330,712
2010-12-10	$8.25	$9.00	38.6%	14.8%	42.6%	17.5%	51.1%	2.1%	-1.2%	4.9M	-120.1M	-1.3M	2.94	3.29	N/A	N/A	12,459	36,574	838,435	333,425
2010-12-13	$8.14	$9.00	41.6%	14.7%	42.5%	24.4%	51.4%	3.0%	-1.1%	4.4M	-88.6M	-1.3M	1.17	2.91	N/A	N/A	9,021	10,582	838,597	349,563
2010-12-14	$8.06	$9.00	41.1%	14.4%	39.8%	23.3%	50.1%	2.3%	-0.4%	4.7M	-80.5M	-1.3M	0.52	2.87	N/A	N/A	8,521	4,404	837,878	343,958
2010-12-15	$7.92	$9.00	49.7%	14.2%	38.9%	43.0%	49.6%	3.5%	0.1%	4.4M	-51.0M	-1.2M	0.83	2.77	N/A	N/A	18,651	15,426	839,309	344,605
2010-12-16	$8.05	$9.00	48.4%	13.9%	38.2%	40.1%	48.3%	4.3%	0.7%	6.0M	-68.9M	-1.2M	2.01	2.96	N/A	N/A	5,597	11,228	849,254	355,112
2010-12-17	$8.21	$9.00	46.6%	13.4%	37.8%	35.8%	46.6%	25.1%	1.7%	3.6M	-89.8M	-1.1M	0.09	2.98	N/A	N/A	33,495	3,063	794,015	273,926
2010-12-20	$8.12	$9.00	43.8%	12.6%	38.2%	29.5%	44.2%	0.6%	0.7%	3.3M	-73.8M	-1.2M	0.90	3.38	N/A	N/A	30,867	27,667	798,397	316,696
2010-12-21	$8.14	$9.00	43.1%	12.4%	37.8%	27.8%	43.7%	-0.3%	0.8%	3.0M	-69.9M	-1.2M	0.58	2.70	N/A	N/A	18,949	10,942	799,094	324,863
2010-12-22	$8.28	$9.00	48.6%	13.9%	37.9%	40.6%	49.8%	1.6%	-2.8%	3.8M	-99.7M	-1.3M	0.58	3.36	N/A	N/A	47,924	27,932	809,921	319,671
2010-12-23	$7.94	$9.00	37.0%	10.6%	38.7%	13.7%	38.9%	-5.0%	3.4%	3.0M	-54.3M	-1.2M	0.51	2.30	N/A	N/A	37,670	19,339	831,050	331,326
2010-12-27	$7.81	$9.00	39.8%	11.4%	38.8%	20.2%	40.9%	0.2%	2.0%	2.1M	-26.6M	-1.1M	0.40	2.28	N/A	N/A	12,901	5,199	826,467	334,058
2010-12-28	$7.76	$9.00	38.8%	11.1%	38.7%	17.9%	40.0%	-0.8%	2.6%	1.8M	-20.0M	-1.1M	0.45	2.35	N/A	N/A	11,820	5,370	818,075	332,252
2010-12-29	$7.75	$9.00	39.6%	11.3%	35.5%	19.7%	39.7%	0.7%	2.1%	1.7M	-16.7M	-1.0M	0.38	2.50	N/A	N/A	10,464	3,926	819,940	334,192
2010-12-30	$7.90	$9.00	40.1%	11.5%	35.6%	20.9%	40.0%	0.8%	1.4%	2.2M	-33.9M	-1.1M	0.42	2.29	N/A	N/A	5,203	2,189	821,484	334,712
2010-12-31	$8.02	$9.00	40.2%	11.5%	26.7%	21.2%	43.4%	-4.3%	1.8%	2.8M	-56.6M	-1.1M	0.77	2.10	N/A	N/A	13,217	10,235	820,599	335,677