MU Options History — April 2016

In April 2016, MU traded between $10.17 and $11.63. ATM implied volatility averaged 47.6%, placing in the 35.4% IV rank vs the trailing year. The 30-day expected move averaged 13.7%. IV traded below realized volatility by 2.1% (HV 20d: 49.7%). Max pain ranged from $11.00 to $13.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.62.

Notable Days

2016-04-28: Highest Volume — 153,816 contracts
2016-04-13: Largest IV drop — 7.4% change
2016-04-29: Highest IV Rank — 42.2%
2016-04-05: Largest Expected Move — 15.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.78	$10.17	$11.63	$10.99	$10.76
Max Pain	$11.57	$11.00	$13.00	$12.00	$11.00
ATM IV	47.6%	44.7%	51.4%	45.5%	51.4%
Expected Move	13.7%	12.5%	15.4%	12.5%	14.7%
HV 20d	49.7%	43.6%	58.0%	53.5%	58.0%
HV 60d	57.5%	53.6%	61.7%	61.7%	56.0%
IV Rank	35.4%	30.3%	42.2%	31.6%	42.2%
IV Percentile	36.6%	28.6%	52.8%	34.5%	52.8%
Term Structure	0.1%	-2.7%	2.7%	2.0%	0.0%
VWIV	47.9%	44.1%	52.9%	44.1%	51.7%
Skew 25d	5.5%	4.7%	6.9%	4.8%	5.0%
Skew 10d	14.0%	-0.1%	21.6%	17.3%	-0.1%
Call IV 25d	45.7%	43.4%	50.4%	44.8%	50.4%
Put IV 25d	51.2%	48.4%	55.4%	49.6%	55.4%
Bid-Ask Spread %	13.87	8.09	23.67	18.59	20.70
Gamma HHI	0.16	0.10	0.35	0.35	0.12
Net GEX	1.1M	-1.8M	6.0M	6.0M	1.4M
Net DEX	126.6M	12.9M	204.0M	124.3M	106.7M
Net VEX	-2.1M	-2.4M	-1.8M	-2.2M	-2.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.62	0.17	1.56	0.29	0.37
Total Volume	54,995.333	26,150	153,816	65,022	107,450
Total OI	1,268,274.048	1,127,018	1,381,292	1,376,464	1,270,117

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
2016-04-01	$10.99	$12.00	45.5%	12.5%	53.5%	31.6%	44.1%	4.8%	2.0%	6.0M	124.3M	-2.2M	0.29	18.59	N/A	N/A	50,383	14,639	785,327	591,137
2016-04-04	$10.80	$13.00	47.9%	14.1%	53.6%	35.9%	50.3%	5.5%	0.1%	1.1M	149.0M	-2.1M	0.38	14.58	N/A	N/A	31,779	11,973	754,840	561,700
2016-04-05	$10.43	$13.00	50.6%	15.4%	54.2%	40.8%	52.9%	6.2%	0.2%	198.4K	177.6M	-2.0M	0.84	14.99	N/A	N/A	37,714	31,831	761,471	563,665
2016-04-06	$10.47	$12.00	49.4%	15.0%	45.9%	38.6%	50.0%	5.8%	0.1%	-191.5K	167.7M	-2.0M	1.06	23.67	N/A	N/A	13,237	13,991	776,313	569,008
2016-04-07	$10.50	$12.00	50.0%	14.8%	45.7%	39.7%	49.0%	5.6%	-0.1%	-518.1K	174.0M	-2.0M	0.42	8.49	N/A	N/A	18,369	7,781	771,398	574,788
2016-04-08	$10.72	$12.00	49.3%	13.5%	46.3%	38.4%	47.8%	6.9%	-1.2%	267.4K	146.7M	-2.1M	0.32	9.61	N/A	N/A	22,800	7,351	776,143	576,022
2016-04-11	$10.46	$12.00	49.4%	14.4%	43.6%	38.6%	51.6%	6.5%	1.2%	-454.3K	177.6M	-1.9M	0.55	10.11	N/A	N/A	26,334	14,417	763,538	563,203
2016-04-12	$10.17	$12.00	49.5%	14.0%	44.0%	38.7%	47.7%	6.4%	-0.7%	-1.8M	204.0M	-1.8M	0.57	13.07	N/A	N/A	30,275	17,347	771,216	567,190
2016-04-13	$10.86	$12.00	45.8%	13.1%	49.7%	32.2%	46.3%	6.1%	-0.5%	2.4M	127.6M	-2.0M	0.66	20.16	N/A	N/A	32,107	21,095	784,663	568,130
2016-04-14	$10.42	$12.00	47.2%	14.0%	51.7%	34.7%	49.1%	6.5%	2.7%	-493.9K	180.0M	-1.9M	1.56	10.86	N/A	N/A	17,098	26,628	792,509	572,413
2016-04-15	$10.72	$11.00	47.7%	13.3%	52.5%	35.6%	49.5%	5.0%	-2.7%	419.0K	132.5M	-2.1M	1.03	11.77	N/A	N/A	35,260	36,381	798,326	582,966
2016-04-18	$10.94	$11.00	45.0%	12.8%	52.2%	30.8%	45.4%	5.3%	1.6%	1.0M	103.1M	-2.1M	0.72	10.33	N/A	N/A	27,374	19,764	613,519	513,499
2016-04-19	$10.71	$11.00	46.8%	13.4%	50.3%	34.0%	46.6%	5.0%	0.2%	973.2K	114.9M	-2.1M	0.74	9.96	N/A	N/A	18,936	14,056	626,740	519,593
2016-04-20	$10.77	$11.00	44.7%	12.8%	50.3%	30.3%	45.8%	4.7%	1.5%	1.1M	112.4M	-2.1M	0.63	15.20	N/A	N/A	18,657	11,816	631,809	524,702
2016-04-21	$10.66	$11.00	46.8%	13.4%	44.2%	33.9%	45.8%	5.3%	0.1%	1.0M	121.7M	-2.1M	0.55	10.58	N/A	N/A	19,736	10,811	636,335	528,101
2016-04-22	$10.65	$11.00	46.0%	13.2%	43.8%	32.4%	45.3%	5.0%	-0.2%	479.8K	123.3M	-2.1M	0.62	8.09	N/A	N/A	19,391	12,000	645,535	533,018
2016-04-25	$10.55	$11.00	47.1%	13.6%	43.6%	34.5%	46.8%	5.7%	-0.9%	402.3K	132.3M	-2.1M	0.62	8.15	N/A	N/A	19,237	11,893	635,069	525,917
2016-04-26	$11.54	$11.00	46.0%	13.0%	53.8%	32.6%	46.5%	5.2%	0.4%	2.0M	44.9M	-2.4M	0.24	14.53	N/A	N/A	104,509	25,530	641,244	530,602
2016-04-27	$11.55	$11.00	45.6%	13.0%	53.8%	31.9%	45.4%	4.7%	-0.6%	3.3M	26.3M	-2.4M	0.66	20.57	N/A	N/A	24,733	16,403	671,787	537,540
2016-04-28	$11.63	$11.00	47.9%	13.9%	53.4%	35.9%	48.7%	4.9%	-0.3%	3.9M	12.9M	-2.4M	0.17	17.25	N/A	N/A	131,263	22,553	680,032	542,630
2016-04-29	$10.76	$11.00	51.4%	14.7%	58.0%	42.2%	51.7%	5.0%	0.0%	1.4M	106.7M	-2.3M	0.37	20.70	N/A	N/A	78,574	28,876	720,211	549,906