MU Options History — January 2013

In January 2013, MU traded between $6.63 and $7.89. ATM implied volatility averaged 38.1%, placing in the 17.4% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded above realized volatility by 1.1% (HV 20d: 37.0%). Max pain ranged from $7.00 to $7.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.55.

Notable Days

2013-01-18: Highest Volume — 85,503 contracts
2013-01-07: Largest IV spike — 25.6% change
2013-01-07: Highest IV Rank — 25.8%
2013-01-03: Largest Expected Move — 13.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.51	$6.63	$7.89	$6.63	$7.56
Max Pain	$7.05	$7.00	$7.50	$7.50	$7.00
ATM IV	38.1%	32.7%	42.4%	39.3%	36.5%
Expected Move	11.1%	9.9%	13.3%	12.8%	11.2%
HV 20d	37.0%	24.2%	45.4%	44.0%	24.2%
HV 60d	41.8%	34.7%	44.2%	43.2%	34.7%
IV Rank	17.4%	6.9%	25.8%	19.7%	14.3%
IV Percentile	5.8%	0.4%	18.7%	4.8%	3.6%
Term Structure	0.5%	-4.6%	3.6%	-4.3%	-2.9%
VWIV	39.1%	35.1%	49.7%	49.7%	39.1%
Skew 25d	1.4%	-5.9%	6.6%	-5.9%	0.6%
Skew 10d	1.5%	-10.6%	12.6%	-10.6%	6.9%
Call IV 25d	39.5%	33.8%	50.8%	50.8%	38.7%
Put IV 25d	40.9%	35.7%	47.7%	44.9%	39.3%
Bid-Ask Spread %	6.99	2.77	20.54	2.77	5.71
Gamma HHI	0.52	0.31	0.65	0.31	0.45
Net GEX	2.2M	656.0K	5.8M	656.0K	1.2M
Net DEX	-28.4M	-101.3M	33.2M	33.2M	-12.2M
Net VEX	-640.5K	-690.5K	-543.3K	-543.3K	-674.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.55	0.08	1.75	0.37	0.08
Total Volume	29,086.81	5,379	85,503	16,062	19,925
Total OI	741,014.619	406,940	947,080	884,876	441,719

Daily Data (21 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
2013-01-02	$6.63	$7.50	39.3%	12.8%	44.0%	19.7%	49.7%	-5.9%	-4.3%	656.0K	33.2M	-543.3K	0.37	2.77	N/A	N/A	11,754	4,308	530,730	354,146
2013-01-03	$6.90	$7.50	41.3%	13.3%	45.4%	23.8%	46.5%	1.1%	-4.6%	1.3M	13.7M	-584.0K	0.48	3.12	N/A	N/A	39,619	19,101	533,167	355,396
2013-01-04	$6.96	$7.00	33.8%	11.4%	45.0%	9.0%	40.5%	1.7%	2.5%	1.5M	15.7M	-598.6K	1.75	6.34	N/A	N/A	13,095	22,881	549,279	368,689
2013-01-07	$7.18	$7.00	42.4%	11.6%	44.6%	25.8%	40.6%	2.1%	2.0%	1.9M	95.0K	-632.3K	0.30	5.57	N/A	N/A	18,784	5,671	549,699	381,267
2013-01-08	$7.23	$7.00	39.4%	11.3%	44.6%	20.0%	39.9%	1.5%	2.6%	2.1M	-5.1M	-635.1K	1.37	4.90	N/A	N/A	6,587	9,040	553,667	384,443
2013-01-09	$7.31	$7.00	38.1%	11.2%	43.3%	17.5%	38.9%	2.9%	2.6%	2.6M	-8.6M	-629.3K	0.19	5.27	N/A	N/A	10,109	1,879	554,312	389,111
2013-01-10	$7.42	$7.00	40.6%	11.6%	43.3%	22.3%	40.2%	3.5%	1.5%	3.3M	-22.6M	-644.4K	0.60	4.06	N/A	N/A	22,167	13,390	552,723	389,455
2013-01-11	$7.54	$7.00	39.0%	11.2%	43.2%	19.2%	39.4%	0.9%	1.8%	4.1M	-50.6M	-662.7K	0.20	4.17	N/A	N/A	20,286	4,063	563,691	383,389
2013-01-14	$7.60	$7.00	40.3%	11.6%	42.9%	21.8%	40.4%	0.6%	1.3%	4.0M	-59.7M	-648.6K	0.28	7.02	N/A	N/A	10,960	3,037	566,613	370,807
2013-01-15	$7.60	$7.00	38.7%	11.1%	42.2%	18.7%	39.2%	0.2%	2.4%	4.7M	-64.2M	-644.6K	0.50	4.21	N/A	N/A	13,500	6,736	567,915	371,662
2013-01-16	$7.67	$7.00	38.2%	10.9%	39.3%	17.6%	39.0%	0.2%	2.6%	5.8M	-86.1M	-628.6K	0.49	20.54	N/A	N/A	30,906	15,219	569,891	376,134
2013-01-17	$7.81	$7.00	36.9%	10.6%	39.4%	15.1%	37.1%	2.3%	3.6%	819.7K	-101.3M	-594.8K	0.29	5.81	N/A	N/A	45,979	13,552	554,662	377,337
2013-01-18	$7.89	$7.00	37.1%	10.6%	39.3%	15.5%	37.4%	1.3%	2.8%	821.0K	-88.9M	-633.7K	0.12	5.17	N/A	N/A	76,596	8,907	542,118	386,301
2013-01-22	$7.84	$7.00	36.3%	10.4%	39.4%	14.0%	36.8%	2.7%	-0.1%	1.9M	-27.3M	-648.2K	0.97	9.32	N/A	N/A	16,092	15,620	180,155	226,785
2013-01-23	$7.78	$7.00	36.4%	10.4%	26.9%	14.2%	37.2%	2.6%	-1.1%	1.9M	-22.0M	-657.1K	0.29	9.84	N/A	N/A	22,312	6,449	189,820	237,940
2013-01-24	$7.83	$7.00	35.4%	10.1%	25.4%	12.2%	35.1%	-1.0%	-1.1%	2.7M	-28.4M	-668.3K	1.24	9.73	N/A	N/A	9,689	12,001	203,780	242,331
2013-01-25	$7.87	$7.00	32.7%	9.9%	24.4%	6.9%	35.1%	1.0%	0.3%	1.5M	-27.7M	-681.8K	0.24	13.45	N/A	N/A	24,922	6,007	209,770	249,505
2013-01-28	$7.82	$7.00	39.4%	10.2%	25.2%	20.0%	35.7%	2.2%	0.0%	1.6M	-26.1M	-679.6K	0.29	3.87	N/A	N/A	10,012	2,926	187,345	240,000
2013-01-29	$7.58	$7.00	38.8%	10.4%	28.0%	18.8%	36.5%	2.2%	-0.6%	1.3M	-11.4M	-670.6K	0.45	5.98	N/A	N/A	7,848	3,515	195,359	240,387
2013-01-30	$7.65	$7.00	38.8%	10.5%	26.7%	18.8%	36.6%	6.6%	-0.4%	1.4M	-16.8M	-690.5K	1.06	9.90	N/A	N/A	2,616	2,763	198,464	241,343
2013-01-31	$7.56	$7.00	36.5%	11.2%	24.2%	14.3%	39.1%	0.6%	-2.9%	1.2M	-12.2M	-674.8K	0.08	5.71	N/A	N/A	18,447	1,478	199,651	242,068