MU Options History — February 2016

In February 2016, MU traded between $9.71 and $11.50. ATM implied volatility averaged 69.3%, placing in the 74.2% IV rank vs the trailing year. The 30-day expected move averaged 19.8%. IV traded below realized volatility by 0.2% (HV 20d: 69.4%). Max pain ranged from $10.00 to $12.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.63.

Notable Days

2016-02-09: Highest Volume — 134,792 contracts
2016-02-08: Largest IV spike — 24.0% change
2016-02-08: Highest IV Rank — 98.5%
2016-02-09: Largest Expected Move — 23.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.68	$9.71	$11.50	$11.01	$10.68
Max Pain	$11.05	$10.00	$12.00	$11.50	$12.00
ATM IV	69.3%	62.8%	82.9%	62.8%	65.7%
Expected Move	19.8%	18.2%	23.1%	18.6%	18.3%
HV 20d	69.4%	57.4%	75.3%	72.1%	57.4%
HV 60d	54.7%	51.0%	57.6%	51.6%	56.6%
IV Rank	74.2%	62.6%	98.5%	62.6%	67.7%
IV Percentile	94.0%	88.5%	99.6%	89.3%	89.7%
Term Structure	-0.3%	-4.5%	2.4%	-1.5%	-1.9%
VWIV	68.8%	62.8%	82.4%	64.9%	62.8%
Skew 25d	7.8%	4.2%	9.9%	8.8%	8.4%
Skew 10d	14.8%	6.4%	20.5%	16.3%	20.2%
Call IV 25d	65.4%	58.6%	79.3%	58.6%	62.5%
Put IV 25d	73.2%	67.3%	85.0%	67.3%	70.9%
Bid-Ask Spread %	11.31	8.93	14.77	14.77	14.21
Gamma HHI	0.15	0.10	0.22	0.11	0.15
Net GEX	2.9M	671.5K	7.2M	2.3M	1.9M
Net DEX	115.4M	10.3M	171.6M	112.3M	145.7M
Net VEX	-2.2M	-2.6M	-2.0M	-2.3M	-2.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.63	0.09	1.42	1.42	0.77
Total Volume	51,710.45	25,720	134,792	48,446	37,062
Total OI	1,271,270.9	1,163,037	1,378,031	1,247,402	1,163,037

Daily Data (20 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
2016-02-01	$11.01	$11.50	62.8%	18.6%	72.1%	62.6%	64.9%	8.8%	-1.5%	2.3M	112.3M	-2.3M	1.42	14.77	N/A	N/A	19,994	28,452	750,564	496,838
2016-02-02	$10.62	$11.50	65.1%	19.4%	72.1%	66.8%	68.9%	9.0%	-0.8%	1.3M	146.9M	-2.2M	0.79	11.41	N/A	N/A	20,480	16,095	743,521	502,049
2016-02-03	$10.75	$11.50	65.0%	19.5%	70.5%	66.4%	65.8%	7.7%	-1.5%	1.9M	134.3M	-2.2M	0.51	12.22	N/A	N/A	23,864	12,064	752,008	502,264
2016-02-04	$11.21	$12.00	63.3%	18.2%	72.5%	63.5%	63.0%	8.8%	-0.5%	4.5M	80.6M	-2.4M	0.37	9.71	N/A	N/A	35,563	13,118	762,265	505,223
2016-02-05	$10.97	$12.00	66.9%	19.1%	72.1%	69.8%	68.1%	8.9%	-0.1%	4.9M	105.1M	-2.4M	0.46	10.14	N/A	N/A	42,149	19,309	756,726	508,483
2016-02-08	$10.22	$12.00	82.9%	22.9%	75.0%	98.5%	79.5%	4.2%	-4.5%	1.5M	147.5M	-2.2M	0.42	14.57	N/A	N/A	47,666	20,107	763,993	484,575
2016-02-09	$9.99	$12.00	81.8%	23.1%	73.0%	96.6%	78.6%	5.8%	-1.8%	1.3M	157.9M	-2.1M	0.09	10.58	N/A	N/A	123,877	10,915	790,556	495,938
2016-02-10	$9.88	$10.00	77.7%	22.2%	72.3%	89.2%	76.8%	7.7%	1.5%	1.5M	157.2M	-2.1M	0.62	8.93	N/A	N/A	22,725	13,991	848,718	498,069
2016-02-11	$9.71	$10.00	80.2%	23.1%	70.4%	93.6%	82.4%	7.2%	0.3%	671.5K	171.6M	-2.0M	0.64	9.38	N/A	N/A	24,364	15,712	860,741	504,366
2016-02-12	$10.01	$10.00	74.6%	21.6%	71.8%	83.7%	78.4%	7.4%	1.5%	1.7M	151.1M	-2.1M	0.73	10.54	N/A	N/A	18,640	13,682	866,133	507,057
2016-02-16	$10.80	$10.00	68.4%	19.6%	72.9%	72.6%	67.7%	9.4%	0.9%	4.0M	96.0M	-2.3M	0.29	10.12	N/A	N/A	49,156	14,078	836,114	486,323
2016-02-17	$11.45	$10.00	65.6%	18.8%	75.3%	67.5%	64.0%	8.5%	0.5%	7.1M	17.7M	-2.5M	0.69	9.73	N/A	N/A	26,104	17,926	862,491	488,539
2016-02-18	$11.50	$10.00	68.4%	19.7%	70.0%	72.6%	66.3%	8.3%	-2.8%	7.2M	10.3M	-2.6M	0.54	12.67	N/A	N/A	38,249	20,609	859,868	491,358
2016-02-19	$11.21	$10.00	66.2%	19.0%	65.6%	68.6%	64.5%	6.9%	-0.3%	3.6M	40.9M	-2.4M	0.61	10.42	N/A	N/A	29,707	18,224	880,658	497,373
2016-02-22	$11.03	$10.00	64.7%	18.2%	65.7%	66.0%	63.6%	8.3%	1.2%	3.7M	80.5M	-2.2M	0.69	11.17	N/A	N/A	19,338	13,250	767,001	438,345
2016-02-23	$10.47	$10.50	65.5%	19.0%	65.7%	67.5%	66.3%	7.8%	2.4%	2.8M	121.1M	-2.1M	0.16	11.81	N/A	N/A	94,797	15,399	774,932	443,657
2016-02-24	$10.64	$12.00	68.2%	19.3%	65.9%	72.2%	64.8%	7.3%	0.9%	1.9M	143.5M	-2.1M	1.09	13.81	N/A	N/A	16,405	17,855	721,657	447,411
2016-02-25	$10.67	$12.00	66.8%	19.0%	65.6%	69.6%	65.9%	5.8%	1.7%	1.8M	146.2M	-2.1M	1.07	10.34	N/A	N/A	12,431	13,289	727,895	452,049
2016-02-26	$10.69	$12.00	66.1%	18.3%	62.9%	68.4%	63.2%	9.9%	-0.8%	1.9M	141.2M	-2.1M	0.56	9.70	N/A	N/A	24,040	13,523	732,452	454,171
2016-02-29	$10.68	$12.00	65.7%	18.3%	57.4%	67.7%	62.8%	8.4%	-1.9%	1.9M	145.7M	-2.1M	0.77	14.21	N/A	N/A	20,888	16,174	716,508	446,529