MU Options History — August 2013

In August 2013, MU traded between $13.18 and $14.97. ATM implied volatility averaged 49.0%, placing in the 35.8% IV rank vs the trailing year. The 30-day expected move averaged 14.0%. IV traded above realized volatility by 2.4% (HV 20d: 46.6%). Max pain ranged from $12.50 to $14.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.51.

Notable Days

2013-08-13: Highest Volume — 281,443 contracts
2013-08-09: Largest IV drop — 10.8% change
2013-08-15: Highest IV Rank — 46.6%
2013-08-16: Largest Expected Move — 15.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.87	$13.18	$14.97	$13.58	$13.57
Max Pain	$13.45	$12.50	$14.00	$13.50	$13.50
ATM IV	49.0%	43.5%	53.7%	50.4%	50.0%
Expected Move	14.0%	12.1%	15.5%	14.5%	13.9%
HV 20d	46.6%	40.1%	51.9%	47.4%	44.9%
HV 60d	41.1%	38.6%	43.1%	38.8%	42.7%
IV Rank	35.8%	22.2%	46.6%	40.3%	35.2%
IV Percentile	72.7%	44.4%	92.9%	81.0%	77.0%
Term Structure	2.3%	-1.7%	11.5%	-1.7%	4.5%
VWIV	49.6%	43.2%	54.6%	51.6%	48.7%
Skew 25d	1.5%	-2.2%	3.5%	-2.2%	1.6%
Skew 10d	3.8%	-2.1%	7.3%	-2.1%	5.8%
Call IV 25d	49.5%	43.0%	54.1%	53.5%	49.1%
Put IV 25d	51.0%	44.6%	55.9%	51.3%	50.7%
Bid-Ask Spread %	5.91	3.19	10.00	5.79	7.24
Gamma HHI	0.24	0.16	0.78	0.20	0.16
Net GEX	33.3M	14.6M	138.1M	29.8M	16.8M
Net DEX	-1.04B	-1.65B	-647.2M	-1.06B	-799.7M
Net VEX	-6.1M	-6.5M	-5.7M	-6.1M	-6.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.51	0.24	1.45	0.47	0.59
Total Volume	115,245.273	29,117	281,443	238,504	29,117
Total OI	2,484,645.227	2,281,226	2,690,704	2,466,482	2,434,085

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
2013-08-01	$13.58	$13.50	50.4%	14.5%	47.4%	40.3%	51.6%	-2.2%	-1.7%	29.8M	-1.06B	-6.1M	0.47	5.79	N/A	N/A	162,438	76,066	1,855,508	610,974
2013-08-02	$13.50	$13.50	47.9%	13.8%	47.1%	35.5%	49.5%	-0.4%	-1.3%	39.0M	-1.03B	-6.2M	0.79	5.27	N/A	N/A	51,831	41,031	1,911,109	650,184
2013-08-05	$14.17	$13.00	49.4%	14.0%	50.0%	38.4%	49.7%	-0.4%	0.1%	33.5M	-1.29B	-6.4M	0.50	5.34	N/A	N/A	59,911	29,867	1,880,260	651,993
2013-08-06	$14.14	$13.50	50.2%	14.3%	43.6%	40.0%	50.8%	-0.1%	0.1%	34.6M	-1.28B	-6.4M	0.68	4.60	N/A	N/A	32,881	22,446	1,889,080	665,308
2013-08-07	$13.81	$13.50	52.9%	15.2%	40.8%	45.1%	54.3%	1.1%	-0.5%	30.7M	-1.13B	-6.3M	0.54	5.36	N/A	N/A	61,565	33,389	1,891,774	679,822
2013-08-08	$13.95	$13.00	53.3%	15.3%	40.8%	45.8%	53.8%	1.4%	-1.6%	32.9M	-1.20B	-6.3M	0.48	5.39	N/A	N/A	138,716	66,880	1,915,731	696,478
2013-08-09	$13.99	$13.00	47.5%	13.6%	40.8%	34.9%	47.7%	2.7%	0.3%	67.6M	-1.21B	-6.3M	0.29	9.32	N/A	N/A	211,224	60,634	1,951,735	726,974
2013-08-12	$13.83	$13.00	46.4%	13.3%	40.1%	32.8%	47.6%	1.7%	0.9%	37.6M	-1.11B	-6.1M	0.27	3.19	N/A	N/A	74,423	20,384	1,927,550	692,084
2013-08-13	$14.97	$13.00	51.0%	14.6%	48.0%	41.5%	51.7%	0.1%	-1.5%	40.9M	-1.65B	-6.3M	0.31	6.71	N/A	N/A	214,537	66,906	1,921,447	700,914
2013-08-14	$14.82	$13.00	51.0%	14.6%	48.1%	41.5%	51.2%	1.5%	-0.9%	38.3M	-1.52B	-6.5M	0.24	4.36	N/A	N/A	102,868	25,163	1,896,122	742,552
2013-08-15	$14.13	$0.00	53.7%	15.5%	51.5%	46.6%	54.6%	2.0%	-1.4%	34.2M	-1.18B	-6.1M	0.41	6.12	N/A	N/A	93,083	38,295	1,887,708	740,992
2013-08-16	$14.01	$12.50	53.6%	15.5%	51.6%	46.3%	53.9%	2.3%	-1.1%	138.1M	-1.13B	-6.2M	0.40	5.27	N/A	N/A	73,978	29,590	1,928,572	762,132
2013-08-19	$13.80	$14.00	51.4%	14.7%	51.9%	42.3%	52.4%	2.5%	6.8%	18.9M	-892.7M	-6.0M	0.49	6.20	N/A	N/A	52,308	25,643	1,601,529	679,697
2013-08-20	$13.80	$14.00	46.2%	13.2%	51.6%	27.5%	46.5%	2.3%	7.2%	20.1M	-888.1M	-6.0M	0.43	4.58	N/A	N/A	70,271	30,456	1,626,169	695,084
2013-08-21	$13.63	$14.00	44.9%	12.9%	49.7%	24.9%	45.1%	2.3%	6.5%	17.9M	-803.2M	-5.9M	0.24	4.71	N/A	N/A	87,553	21,208	1,620,638	712,454
2013-08-22	$13.86	$14.00	44.3%	12.7%	49.8%	23.7%	44.8%	2.7%	11.5%	20.4M	-874.1M	-6.0M	1.45	10.00	N/A	N/A	20,506	29,632	1,620,745	717,968
2013-08-23	$13.86	$14.00	43.5%	12.1%	45.2%	22.2%	43.2%	1.6%	5.7%	17.2M	-852.5M	-6.0M	0.59	4.08	N/A	N/A	26,799	15,767	1,626,940	739,561
2013-08-26	$13.78	$14.00	44.3%	13.0%	45.1%	23.8%	47.0%	2.4%	4.9%	17.3M	-826.7M	-5.9M	0.42	6.72	N/A	N/A	52,343	21,952	1,576,269	726,649
2013-08-27	$13.18	$13.50	48.1%	13.9%	48.3%	31.4%	49.9%	3.5%	4.1%	14.6M	-647.2M	-5.7M	0.64	6.76	N/A	N/A	54,902	34,894	1,601,825	736,148
2013-08-28	$13.24	$13.50	49.1%	14.1%	45.0%	33.4%	48.6%	2.8%	3.0%	14.7M	-666.1M	-5.8M	0.59	5.76	N/A	N/A	45,614	26,933	1,625,925	752,839
2013-08-29	$13.57	$13.50	49.1%	13.9%	44.9%	33.5%	48.6%	2.0%	4.0%	17.0M	-794.9M	-5.9M	0.33	7.30	N/A	N/A	76,161	25,231	1,638,865	751,802
2013-08-30	$13.57	$13.50	50.0%	13.9%	44.9%	35.2%	48.7%	1.6%	4.5%	16.8M	-799.7M	-6.0M	0.59	7.24	N/A	N/A	18,356	10,761	1,668,573	765,512