MU Options History — September 2014

In September 2014, MU traded between $30.02 and $34.50. ATM implied volatility averaged 44.1%, placing in the 33.1% IV rank vs the trailing year. The 30-day expected move averaged 11.1%. IV traded above realized volatility by 10.9% (HV 20d: 33.3%). Max pain ranged from $32.00 to $35.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.54.

Notable Days

2014-09-26: Highest Volume — 265,901 contracts
2014-09-26: Largest IV drop — 25.8% change
2014-09-15: Highest IV Rank — 50.5%
2014-09-15: Largest Expected Move — 11.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$32.14	$30.02	$34.50	$31.51	$34.26
Max Pain	$33.10	$32.00	$35.00	$35.00	$32.00
ATM IV	44.1%	34.6%	51.4%	42.9%	36.5%
Expected Move	11.1%	10.6%	11.9%	10.9%	10.9%
HV 20d	33.3%	23.8%	46.9%	27.4%	45.1%
HV 60d	34.3%	31.9%	37.3%	33.4%	36.9%
IV Rank	33.1%	10.3%	50.5%	30.1%	14.8%
IV Percentile	61.0%	9.5%	78.6%	57.1%	20.6%
Term Structure	-1.7%	-6.1%	1.1%	0.7%	1.1%
VWIV	39.5%	36.9%	43.6%	39.3%	38.4%
Skew 25d	4.1%	-1.0%	5.5%	3.6%	2.8%
Skew 10d	9.4%	5.1%	17.6%	6.7%	8.4%
Call IV 25d	42.7%	33.9%	50.1%	41.8%	35.4%
Put IV 25d	46.7%	36.6%	54.2%	45.4%	38.2%
Bid-Ask Spread %	7.81	4.09	25.59	4.81	7.02
Gamma HHI	0.09	0.08	0.12	0.09	0.11
Net GEX	30.8M	17.1M	40.9M	20.8M	40.9M
Net DEX	-2.51B	-3.45B	-1.78B	-2.19B	-3.36B
Net VEX	-8.1M	-8.4M	-7.5M	-8.3M	-7.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.54	0.28	0.81	0.49	0.51
Total Volume	126,191.619	43,100	265,901	102,214	49,214
Total OI	2,414,898.571	2,250,541	2,651,194	2,250,541	2,514,170

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
2014-09-02	$31.51	$35.00	42.9%	10.9%	27.4%	30.1%	39.3%	3.6%	0.7%	20.8M	-2.19B	-8.3M	0.49	4.81	N/A	N/A	68,471	33,743	1,332,739	917,802
2014-09-03	$31.68	$35.00	43.3%	11.0%	26.5%	31.2%	39.9%	5.5%	-0.7%	23.6M	-2.26B	-8.4M	0.52	4.66	N/A	N/A	67,258	34,855	1,360,635	934,470
2014-09-04	$32.12	$35.00	42.4%	11.0%	26.4%	29.1%	37.0%	4.6%	-0.6%	28.9M	-2.47B	-8.2M	0.28	4.77	N/A	N/A	73,235	20,265	1,381,766	934,954
2014-09-05	$32.94	$35.00	41.5%	10.9%	24.0%	26.7%	38.3%	4.9%	-1.5%	38.0M	-2.77B	-8.4M	0.56	4.98	N/A	N/A	42,488	23,741	1,403,991	932,358
2014-09-08	$33.14	$35.00	44.3%	11.0%	23.8%	33.4%	42.3%	5.3%	-2.1%	33.9M	-2.84B	-8.2M	0.54	4.69	N/A	N/A	61,039	33,156	1,393,381	917,650
2014-09-09	$31.98	$35.00	45.9%	11.2%	26.8%	37.3%	40.3%	3.7%	-1.6%	27.8M	-2.41B	-8.2M	0.81	4.58	N/A	N/A	30,198	24,476	1,392,347	924,814
2014-09-10	$32.09	$34.00	49.6%	11.3%	26.8%	46.2%	43.6%	5.4%	-6.1%	28.2M	-2.39B	-8.2M	0.35	5.44	N/A	N/A	126,520	44,799	1,386,326	933,971
2014-09-11	$32.04	$33.00	45.3%	11.2%	25.8%	35.9%	39.9%	4.7%	-3.9%	35.5M	-2.44B	-8.4M	0.75	4.75	N/A	N/A	24,693	18,407	1,456,013	948,614
2014-09-12	$31.53	$33.00	45.1%	11.3%	26.2%	35.5%	39.3%	4.2%	-2.5%	26.4M	-2.27B	-8.1M	0.46	4.09	N/A	N/A	43,515	19,960	1,463,812	955,679
2014-09-15	$30.02	$33.00	51.4%	11.9%	31.0%	50.5%	41.3%	5.4%	-2.9%	24.6M	-1.78B	-8.0M	0.66	5.74	N/A	N/A	97,467	64,523	1,442,697	940,370
2014-09-16	$31.45	$32.00	46.9%	11.4%	35.0%	39.8%	40.2%	5.0%	-1.2%	35.8M	-2.28B	-8.3M	0.56	5.50	N/A	N/A	98,958	55,473	1,476,761	972,832
2014-09-17	$31.98	$32.00	44.7%	11.1%	35.3%	34.5%	38.9%	3.9%	0.2%	40.0M	-2.50B	-8.2M	0.65	6.12	N/A	N/A	78,111	50,967	1,492,893	996,372
2014-09-18	$32.48	$32.00	44.2%	11.0%	34.3%	33.2%	36.9%	4.3%	-1.6%	38.2M	-2.67B	-8.1M	0.43	5.09	N/A	N/A	57,281	24,858	1,483,476	1,002,730
2014-09-19	$31.63	$32.00	45.5%	11.0%	35.4%	36.5%	38.9%	5.1%	-4.3%	17.1M	-2.31B	-8.1M	0.29	8.19	N/A	N/A	117,881	34,081	1,494,203	1,014,684
2014-09-22	$30.60	$32.00	47.9%	11.2%	37.0%	42.3%	39.2%	3.6%	-2.5%	22.0M	-1.95B	-7.9M	0.79	5.25	N/A	N/A	95,487	75,820	1,404,959	950,552
2014-09-23	$31.20	$32.00	46.7%	11.5%	37.9%	39.2%	39.8%	4.7%	-2.2%	24.9M	-2.13B	-8.1M	0.63	17.20	N/A	N/A	51,080	32,334	1,438,395	995,639
2014-09-24	$32.22	$32.00	44.8%	11.3%	39.8%	34.8%	39.1%	3.1%	-1.3%	32.0M	-2.51B	-8.1M	0.57	24.40	N/A	N/A	111,852	63,715	1,458,945	1,011,756
2014-09-25	$31.70	$32.00	46.6%	11.5%	40.1%	39.1%	40.5%	-1.0%	-1.9%	30.2M	-2.38B	-8.2M	0.69	25.59	N/A	N/A	154,042	105,873	1,501,790	1,035,676
2014-09-26	$33.83	$32.00	34.6%	10.6%	46.6%	10.3%	38.2%	2.7%	0.5%	37.2M	-3.43B	-7.5M	0.33	5.87	N/A	N/A	200,514	65,387	1,570,081	1,081,113
2014-09-29	$34.50	$32.00	36.6%	10.9%	46.9%	15.1%	37.8%	4.1%	-1.4%	40.5M	-3.45B	-7.6M	0.54	5.24	N/A	N/A	112,978	61,309	1,464,366	997,088
2014-09-30	$34.26	$32.00	36.5%	10.9%	45.1%	14.8%	38.4%	2.8%	1.1%	40.9M	-3.36B	-7.8M	0.51	7.02	N/A	N/A	32,613	16,601	1,491,663	1,022,507