MU Options History — February 2014

In February 2014, MU traded between $22.81 and $25.49. ATM implied volatility averaged 40.3%, placing in the 15.6% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded above realized volatility by 9.3% (HV 20d: 30.9%). Max pain ranged from $15.00 to $15.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 18 of 19 days. Put/call ratio averaged 0.87.

Notable Days

  • 2014-02-21: Highest Volume — 535,490 contracts
  • 2014-02-07: Largest IV drop — 12.0% change
  • 2014-02-05: Highest IV Rank — 27.8%
  • 2014-02-03: Largest Expected Move — 12.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.49$22.81$25.49$22.81$24.19
Max Pain$15.00$15.00$15.00$15.00$15.00
ATM IV40.3%35.4%46.3%45.6%42.0%
Expected Move11.5%10.9%12.1%12.1%11.2%
HV 20d30.9%21.3%49.4%49.4%21.3%
HV 60d38.9%37.0%39.9%39.7%37.0%
IV Rank15.6%5.8%27.8%26.5%19.2%
IV Percentile25.0%4.0%54.4%51.6%33.3%
Term Structure2.3%-0.7%4.3%4.2%3.8%
VWIV40.8%38.5%44.7%44.7%38.9%
Skew 25d2.9%1.5%4.2%2.0%4.2%
Skew 10d6.1%1.6%11.1%1.6%11.1%
Call IV 25d39.4%33.5%46.5%46.0%39.0%
Put IV 25d42.3%37.1%48.0%48.0%43.2%
Bid-Ask Spread %11.055.3418.895.3414.25
Gamma HHI0.130.100.360.110.14
Net GEX21.5M-14.5M34.2M29.0M10.9M
Net DEX-2.05B-2.63B-1.39B-1.61B-1.40B
Net VEX-7.3M-7.7M-6.6M-7.7M-7.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.870.352.390.470.38
Total Volume151,321.36850,898535,49083,916148,941
Total OI2,441,190.4212,251,1322,569,9512,377,6262,403,396

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-02-03$22.81$15.0045.6%12.1%49.4%26.5%44.7%2.0%4.2%29.0M-1.61B-7.7M0.475.34N/AN/A57,23726,6791,555,491822,135
2014-02-04$23.00$15.0043.9%12.0%48.9%22.9%41.4%1.7%4.2%29.9M-1.68B-7.5M0.528.02N/AN/A66,42734,2221,575,218831,261
2014-02-05$23.31$15.0046.3%12.1%46.1%27.8%43.9%1.5%4.3%29.2M-1.82B-7.7M1.017.53N/AN/A60,57561,4201,583,474855,711
2014-02-06$24.11$15.0045.7%11.6%33.7%26.6%39.8%1.6%-0.7%29.9M-2.20B-7.6M0.658.77N/AN/A144,38294,4271,598,955893,811
2014-02-07$24.51$15.0040.3%11.6%32.6%15.5%41.3%2.4%0.8%-14.5M-2.43B-7.6M1.159.43N/AN/A85,60598,8621,622,312947,639
2014-02-10$24.87$15.0041.8%11.7%32.2%18.6%41.3%3.3%2.9%34.2M-2.46B-7.3M0.585.54N/AN/A64,66537,6591,551,818873,882
2014-02-11$24.71$15.0041.9%11.7%31.7%18.8%43.6%2.8%2.5%33.5M-2.36B-7.3M2.3911.99N/AN/A31,91276,2671,557,208880,565
2014-02-12$24.89$15.0039.6%11.5%31.4%14.1%39.6%2.5%2.6%31.6M-2.43B-7.1M2.066.24N/AN/A38,87080,0021,546,452904,425
2014-02-13$24.91$15.0038.7%11.7%30.8%12.3%40.4%2.3%1.2%31.3M-2.43B-7.1M1.0311.39N/AN/A36,83637,9091,563,961943,205
2014-02-14$25.08$15.0036.3%11.6%30.5%7.5%40.2%2.5%1.6%31.1M-2.54B-7.0M1.1516.45N/AN/A75,97387,2821,573,795962,116
2014-02-18$25.42$15.0035.4%11.5%27.3%5.8%40.1%2.7%1.3%27.4M-2.63B-6.6M1.2911.79N/AN/A88,656113,9541,532,755928,622
2014-02-19$25.42$15.0036.0%11.2%25.5%6.8%38.6%3.3%1.6%22.0M-2.53B-6.9M0.5111.16N/AN/A103,11652,6071,546,885998,351
2014-02-20$25.49$15.0036.0%11.2%24.6%6.9%41.5%3.7%0.7%16.4M-2.52B-6.8M0.4610.21N/AN/A102,96347,2371,537,7881,019,401
2014-02-21$25.08$15.0037.3%11.3%25.6%9.5%39.1%3.9%2.6%14.6M-2.10B-7.3M0.3918.89N/AN/A385,314150,1761,476,3431,051,556
2014-02-24$24.75$15.0037.5%11.0%23.2%9.9%39.2%3.9%2.1%14.3M-1.60B-7.3M0.7713.63N/AN/A57,96844,9181,305,777945,355
2014-02-25$24.26$15.0040.1%10.9%24.6%15.2%39.4%3.4%2.4%14.0M-1.40B-7.4M0.6914.28N/AN/A46,72332,3311,335,272970,426
2014-02-26$24.22$15.0039.5%11.1%24.6%13.9%43.1%3.4%2.2%12.5M-1.40B-7.4M0.3513.77N/AN/A37,75013,1481,353,010983,016
2014-02-27$24.19$15.0041.4%11.0%23.8%17.9%38.5%3.9%3.4%11.5M-1.39B-7.4M0.6211.27N/AN/A93,70658,3871,363,385987,846
2014-02-28$24.19$15.0042.0%11.2%21.3%19.2%38.9%4.2%3.8%10.9M-1.40B-7.5M0.3814.25N/AN/A108,14240,7991,378,7621,024,634