MU Options History — April 2012

In April 2012, MU traded between $6.51 and $8.10. ATM implied volatility averaged 54.1%, placing in the 13.4% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded above realized volatility by 17.9% (HV 20d: 36.2%). Max pain ranged from $8.00 to $9.00. Net GEX was positive for 3 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.76.

Notable Days

2012-04-04: Highest Volume — 196,096 contracts
2012-04-09: Largest IV spike — 31.5% change
2012-04-10: Highest IV Rank — 25.7%
2012-04-10: Largest Expected Move — 16.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.08	$6.51	$8.10	$8.10	$6.59
Max Pain	$8.05	$8.00	$9.00	$8.00	$8.00
ATM IV	54.1%	45.6%	71.7%	54.1%	54.7%
Expected Move	14.8%	13.1%	16.4%	13.6%	13.2%
HV 20d	36.2%	30.8%	41.3%	39.5%	30.8%
HV 60d	43.1%	42.3%	44.4%	42.6%	42.8%
IV Rank	13.4%	6.6%	25.7%	14.3%	12.6%
IV Percentile	49.3%	21.8%	75.4%	55.2%	54.4%
Term Structure	0.9%	-1.6%	6.1%	2.8%	1.4%
VWIV	53.2%	45.7%	59.8%	49.4%	47.0%
Skew 25d	-0.5%	-1.7%	1.2%	-1.7%	-1.1%
Skew 10d	-0.7%	-13.8%	47.1%	-8.3%	47.1%
Call IV 25d	54.5%	49.0%	60.2%	51.7%	50.7%
Put IV 25d	54.0%	47.9%	59.1%	50.0%	49.6%
Bid-Ask Spread %	4.06	3.01	7.79	3.74	3.13
Gamma HHI	0.22	0.17	0.27	0.20	0.27
Net GEX	-1.4M	-2.3M	1.1M	1.1M	-1.9M
Net DEX	112.4M	11.9M	184.0M	11.9M	133.4M
Net VEX	-1.4M	-1.6M	-1.2M	-1.6M	-1.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.76	0.10	2.61	0.65	1.50
Total Volume	48,240.7	9,379	196,096	31,985	9,379
Total OI	1,307,725.15	1,084,296	1,509,708	1,235,738	1,089,690

Daily Data (20 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
2012-04-02	$8.10	$8.00	54.1%	13.6%	39.5%	14.3%	49.4%	-1.7%	2.8%	1.1M	11.9M	-1.6M	0.65	3.74	N/A	N/A	19,436	12,549	676,597	559,141
2012-04-03	$7.99	$8.00	52.8%	14.0%	38.8%	13.5%	49.9%	-0.3%	4.6%	829.9K	22.4M	-1.6M	0.12	3.44	N/A	N/A	36,127	4,386	681,896	562,810
2012-04-04	$7.66	$8.00	57.4%	14.5%	41.3%	16.4%	54.0%	-1.3%	4.4%	42.7K	51.6M	-1.6M	0.10	3.61	N/A	N/A	177,783	18,313	700,510	564,718
2012-04-05	$7.59	$8.00	49.3%	13.9%	41.2%	11.2%	49.9%	1.2%	6.1%	-437.4K	65.0M	-1.5M	1.03	3.78	N/A	N/A	5,997	6,194	730,959	571,881
2012-04-09	$7.35	$9.00	64.8%	16.0%	41.3%	21.2%	59.6%	-0.7%	-1.6%	-863.4K	87.7M	-1.4M	0.20	3.40	N/A	N/A	155,589	31,684	735,252	572,908
2012-04-10	$7.15	$8.00	71.7%	16.4%	41.1%	25.7%	58.6%	-1.0%	-1.2%	-1.5M	107.7M	-1.4M	0.36	4.91	N/A	N/A	53,975	19,255	746,108	598,602
2012-04-11	$7.17	$8.00	54.0%	16.2%	35.7%	13.5%	59.8%	-1.1%	-0.8%	-1.5M	103.0M	-1.5M	0.99	4.91	N/A	N/A	8,002	7,939	783,768	612,946
2012-04-12	$7.14	$8.00	55.9%	16.0%	35.0%	14.7%	57.8%	-0.2%	-0.7%	-1.7M	107.2M	-1.5M	0.50	7.79	N/A	N/A	45,324	22,688	784,638	616,034
2012-04-13	$6.96	$8.00	56.0%	16.1%	32.4%	14.8%	59.0%	-1.3%	-0.5%	-1.5M	126.9M	-1.4M	0.53	3.95	N/A	N/A	32,341	17,131	811,378	628,385
2012-04-16	$7.12	$8.00	56.5%	16.2%	34.5%	15.1%	58.6%	-1.0%	-1.3%	-1.4M	111.5M	-1.4M	1.98	4.56	N/A	N/A	15,855	31,390	819,762	629,053
2012-04-17	$7.24	$8.00	54.0%	15.5%	35.6%	13.5%	54.2%	0.6%	-0.1%	-1.4M	109.6M	-1.6M	2.61	4.07	N/A	N/A	11,834	30,855	822,468	655,106
2012-04-18	$7.07	$8.00	53.0%	15.2%	36.0%	12.9%	54.0%	-0.1%	0.5%	-2.0M	138.0M	-1.6M	0.67	3.59	N/A	N/A	8,591	5,719	823,204	680,955
2012-04-19	$7.00	$8.00	52.2%	15.0%	34.3%	12.3%	52.7%	0.9%	1.1%	-2.3M	142.4M	-1.5M	0.56	3.01	N/A	N/A	17,923	10,022	825,298	670,473
2012-04-20	$6.64	$8.00	50.9%	14.6%	37.1%	11.5%	51.8%	-1.4%	1.9%	-2.1M	184.0M	-1.4M	0.77	5.91	N/A	N/A	25,261	19,430	832,364	677,344
2012-04-23	$6.63	$8.00	52.3%	15.0%	36.4%	12.4%	53.7%	0.2%	-1.3%	-2.1M	147.8M	-1.4M	0.37	4.06	N/A	N/A	16,754	6,257	543,180	598,889
2012-04-24	$6.51	$8.00	50.5%	14.5%	36.4%	9.8%	52.1%	-0.0%	-0.2%	-2.1M	154.9M	-1.3M	0.48	3.49	N/A	N/A	9,662	4,679	547,875	601,390
2012-04-25	$6.52	$8.00	49.2%	14.1%	31.8%	9.0%	49.7%	0.6%	0.1%	-2.2M	156.8M	-1.3M	0.17	3.42	N/A	N/A	19,437	3,260	550,213	602,946
2012-04-26	$6.60	$8.00	46.4%	13.3%	32.2%	7.1%	46.8%	-0.8%	2.1%	-2.3M	154.6M	-1.3M	1.25	3.01	N/A	N/A	5,302	6,642	556,254	605,212
2012-04-27	$6.57	$8.00	45.6%	13.1%	32.0%	6.6%	45.7%	-1.1%	1.8%	-1.8M	131.7M	-1.2M	0.30	3.41	N/A	N/A	24,557	7,292	546,393	537,903
2012-04-30	$6.59	$8.00	54.7%	13.2%	30.8%	12.6%	47.0%	-1.1%	1.4%	-1.9M	133.4M	-1.2M	1.50	3.13	N/A	N/A	3,755	5,624	548,437	541,253