MU Options History — May 2014

In May 2014, MU traded between $25.86 and $28.61. ATM implied volatility averaged 38.1%, placing in the 9.5% IV rank vs the trailing year. The 30-day expected move averaged 11.3%. IV traded below realized volatility by 1.4% (HV 20d: 39.5%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 0.61.

Notable Days

  • 2014-05-15: Highest Volume — 192,607 contracts
  • 2014-05-27: Largest IV spike — 23.8% change
  • 2014-05-30: Highest IV Rank — 23.4%
  • 2014-05-01: Largest Expected Move — 12.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.09$25.86$28.61$26.25$28.59
Max Pain$20.00$20.00$20.00$20.00$20.00
ATM IV38.1%33.2%44.6%40.7%44.6%
Expected Move11.3%10.8%12.4%12.4%10.9%
HV 20d39.5%28.4%54.3%54.3%28.5%
HV 60d40.7%39.5%41.8%40.1%41.5%
IV Rank9.5%0.0%23.4%14.9%23.4%
IV Percentile14.6%0.0%46.8%25.8%46.8%
Term Structure1.8%-1.3%8.4%-1.0%-1.2%
VWIV39.6%38.0%44.4%41.8%38.0%
Skew 25d3.1%1.5%4.9%2.9%4.6%
Skew 10d6.4%3.4%11.3%6.3%9.5%
Call IV 25d37.2%30.7%44.1%39.9%44.1%
Put IV 25d40.3%33.4%48.7%42.8%48.7%
Bid-Ask Spread %13.699.7023.6223.6219.61
Gamma HHI0.120.090.240.110.12
Net GEX29.7M24.4M41.4M32.9M27.2M
Net DEX-2.17B-2.50B-1.80B-2.05B-2.47B
Net VEX-7.9M-8.2M-7.6M-8.0M-7.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.610.321.190.430.48
Total Volume99,044.04856,195192,607150,818102,562
Total OI2,114,503.6671,992,0702,213,3042,090,4672,147,805

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2014-05-01$26.25$20.0040.7%12.4%54.3%14.9%41.8%2.9%-1.0%32.9M-2.05B-8.0M0.4323.62N/AN/A105,70545,1131,304,515785,952
2014-05-02$26.31$20.0038.6%11.5%53.9%10.5%40.2%3.2%-0.4%26.6M-2.08B-8.0M0.329.98N/AN/A116,61637,5651,325,060796,502
2014-05-05$26.74$20.0039.0%11.4%48.1%11.2%39.3%2.8%0.2%27.5M-2.14B-8.2M0.6611.05N/AN/A39,13125,8811,303,768758,232
2014-05-06$26.68$20.0039.3%11.5%44.9%12.0%39.7%1.5%0.1%26.7M-2.15B-8.0M0.3810.98N/AN/A92,51935,0631,313,917769,008
2014-05-07$26.42$20.0038.4%11.4%45.2%10.0%39.0%2.9%0.9%29.3M-2.07B-8.2M0.5610.13N/AN/A45,16325,1581,367,626788,367
2014-05-08$26.93$20.0037.8%11.4%45.3%8.7%39.0%2.1%0.1%33.0M-2.28B-8.0M0.8521.80N/AN/A64,62454,7931,373,864793,300
2014-05-09$26.84$20.0037.7%11.3%41.5%8.7%39.4%2.3%0.3%33.0M-2.23B-8.1M0.719.70N/AN/A40,05728,4661,379,501816,508
2014-05-12$27.51$20.0036.4%11.2%39.5%5.9%38.4%2.3%0.6%37.7M-2.43B-7.9M0.4714.00N/AN/A48,33722,8421,360,199778,939
2014-05-13$27.63$20.0035.4%11.2%38.6%4.0%38.0%2.4%0.7%41.4M-2.47B-7.7M0.4716.65N/AN/A38,16218,0331,365,042785,387
2014-05-14$26.86$20.0035.0%11.2%41.1%3.0%38.5%2.9%1.5%29.6M-2.18B-7.8M0.7111.63N/AN/A48,40634,3761,356,459792,656
2014-05-15$25.86$20.0037.7%11.5%44.4%8.7%39.4%2.5%0.5%24.4M-1.80B-7.9M0.609.88N/AN/A120,40872,1991,359,829803,083
2014-05-16$26.03$20.0036.1%11.3%39.4%5.3%44.4%2.3%0.8%36.8M-1.93B-8.1M0.4912.66N/AN/A61,22330,2031,409,820803,484
2014-05-19$26.94$20.0035.4%11.3%36.0%3.9%39.8%3.2%6.0%26.2M-2.00B-8.0M1.1913.80N/AN/A44,95653,5861,253,843738,227
2014-05-20$26.55$20.0036.5%11.4%34.7%6.2%41.1%2.9%7.4%24.9M-1.88B-8.0M0.5112.10N/AN/A83,16742,3991,266,751770,072
2014-05-21$26.99$20.0034.9%11.4%35.1%2.9%39.8%3.5%7.6%27.2M-2.04B-8.0M0.7616.13N/AN/A39,52530,2241,290,154778,409
2014-05-22$27.17$20.0033.2%11.2%35.1%0.0%40.1%3.5%8.1%26.8M-2.08B-7.9M0.6617.77N/AN/A37,51024,7141,295,254792,999
2014-05-23$27.33$20.0034.0%11.1%32.3%1.5%40.5%2.7%8.4%25.6M-2.13B-7.8M0.8512.10N/AN/A49,34942,0621,299,055804,448
2014-05-27$28.06$20.0042.0%11.2%31.0%18.1%38.1%4.4%-1.3%28.1M-2.27B-7.7M0.3710.31N/AN/A77,12628,8441,257,160792,557
2014-05-28$28.61$20.0043.3%10.8%31.0%20.7%38.0%4.9%-0.5%31.9M-2.50B-7.6M0.7210.12N/AN/A67,18948,4221,287,794804,733
2014-05-29$28.58$20.0043.1%10.9%28.4%20.4%38.0%4.2%-1.3%27.4M-2.47B-7.7M0.5213.45N/AN/A38,37919,8681,298,396835,902
2014-05-30$28.59$20.0044.6%10.9%28.5%23.4%38.0%4.6%-1.2%27.2M-2.47B-7.8M0.4819.61N/AN/A69,19133,3711,303,748844,057