MU Options History — August 2016

In August 2016, MU traded between $13.39 and $16.89. ATM implied volatility averaged 42.7%, placing in the 10.3% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded above realized volatility by 1.4% (HV 20d: 41.3%). Max pain ranged from $12.50 to $14.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 17 of 23 days. Put/call ratio averaged 0.53.

Notable Days

2016-08-19: Highest Volume — 143,122 contracts
2016-08-30: Largest IV spike — 6.9% change
2016-08-31: Highest IV Rank — 25.1%
2016-08-30: Largest Expected Move — 12.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$15.25	$13.39	$16.89	$13.57	$16.49
Max Pain	$13.80	$12.50	$14.00	$12.50	$14.00
ATM IV	42.7%	40.4%	49.5%	42.3%	49.5%
Expected Move	12.0%	11.7%	12.9%	12.0%	12.4%
HV 20d	41.3%	34.8%	47.5%	47.5%	37.3%
HV 60d	54.2%	52.9%	55.6%	54.9%	54.1%
IV Rank	10.3%	5.2%	25.1%	9.4%	25.1%
IV Percentile	10.8%	4.0%	32.5%	6.0%	32.5%
Term Structure	1.4%	-0.9%	5.7%	0.1%	-0.7%
VWIV	42.3%	41.1%	45.4%	42.8%	43.7%
Skew 25d	2.5%	1.0%	4.8%	1.0%	4.1%
Skew 10d	4.6%	-18.9%	23.0%	-18.9%	13.4%
Call IV 25d	42.0%	39.9%	47.4%	43.5%	47.4%
Put IV 25d	44.6%	42.2%	51.6%	44.5%	51.5%
Bid-Ask Spread %	7.61	3.51	14.41	13.34	4.30
Gamma HHI	0.13	0.10	0.21	0.10	0.12
Net GEX	13.7M	8.5M	20.5M	9.0M	16.9M
Net DEX	-551.2M	-844.8M	-202.8M	-239.7M	-744.3M
Net VEX	-3.7M	-4.0M	-3.3M	-3.4M	-4.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.53	0.17	1.20	0.51	0.61
Total Volume	63,380.565	23,229	143,122	30,823	52,914
Total OI	1,571,384.174	1,479,556	1,696,066	1,479,556	1,696,066

Daily Data (23 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
2016-08-01	$13.57	$12.50	42.3%	12.0%	47.5%	9.4%	42.8%	1.0%	0.1%	9.0M	-239.7M	-3.4M	0.51	13.34	N/A	N/A	20,364	10,459	970,984	508,572
2016-08-02	$13.39	$12.50	43.3%	12.2%	44.4%	11.6%	42.6%	3.6%	-0.9%	8.5M	-202.8M	-3.3M	0.34	10.39	N/A	N/A	33,938	11,681	977,339	511,602
2016-08-03	$13.47	$12.50	42.1%	11.8%	43.8%	9.0%	41.5%	2.9%	-0.1%	10.1M	-219.5M	-3.3M	0.37	14.41	N/A	N/A	23,466	8,656	993,098	516,122
2016-08-04	$14.04	$14.00	41.8%	12.2%	44.3%	8.4%	42.6%	1.5%	0.1%	12.0M	-339.3M	-3.5M	0.40	5.92	N/A	N/A	42,652	17,195	998,684	517,890
2016-08-05	$14.51	$14.00	41.5%	12.0%	44.1%	7.6%	42.3%	2.3%	-0.2%	18.9M	-442.4M	-3.6M	0.41	6.09	N/A	N/A	45,101	18,472	1,006,521	519,437
2016-08-08	$14.43	$14.00	41.2%	12.1%	44.2%	6.9%	42.2%	2.5%	0.9%	11.9M	-394.1M	-3.5M	0.43	4.71	N/A	N/A	22,173	9,429	985,168	510,278
2016-08-09	$14.49	$14.00	40.4%	11.8%	41.4%	5.2%	41.7%	1.7%	1.1%	12.4M	-410.1M	-3.5M	1.03	7.09	N/A	N/A	11,454	11,775	990,502	512,899
2016-08-10	$14.21	$14.00	41.8%	12.2%	42.3%	8.3%	42.3%	2.8%	0.1%	11.4M	-346.2M	-3.4M	0.42	6.57	N/A	N/A	26,658	11,289	991,977	518,916
2016-08-11	$14.47	$14.00	40.4%	11.9%	42.6%	5.3%	41.3%	2.7%	1.6%	13.1M	-409.1M	-3.5M	0.34	6.62	N/A	N/A	25,485	8,707	1,001,286	522,278
2016-08-12	$14.92	$14.00	40.7%	11.7%	43.1%	6.0%	41.1%	2.7%	0.4%	12.6M	-508.7M	-3.5M	0.88	6.69	N/A	N/A	49,220	43,445	1,007,936	523,760
2016-08-15	$15.57	$14.00	42.0%	12.0%	44.9%	8.8%	43.0%	2.2%	1.0%	12.5M	-627.2M	-3.5M	0.27	7.54	N/A	N/A	82,629	22,520	998,675	513,588
2016-08-16	$15.51	$14.00	41.6%	11.9%	44.6%	7.9%	42.3%	1.4%	0.9%	13.4M	-625.0M	-3.6M	1.13	5.31	N/A	N/A	34,168	38,602	1,028,619	526,574
2016-08-17	$15.52	$14.00	41.1%	11.8%	44.0%	6.8%	41.6%	1.7%	0.1%	13.3M	-626.0M	-3.7M	0.17	6.12	N/A	N/A	78,364	13,188	1,042,042	553,603
2016-08-18	$15.77	$14.00	41.0%	11.7%	41.7%	6.5%	41.5%	2.0%	0.9%	15.0M	-700.2M	-3.8M	0.34	9.22	N/A	N/A	42,896	14,613	1,083,439	559,431
2016-08-19	$16.26	$14.00	41.1%	11.8%	42.0%	6.8%	41.1%	1.6%	0.1%	13.4M	-826.1M	-3.8M	0.26	6.00	N/A	N/A	113,677	29,445	1,103,926	567,741
2016-08-22	$16.18	$14.00	43.0%	12.3%	38.5%	10.9%	43.0%	3.5%	5.2%	14.3M	-683.7M	-3.9M	0.47	10.03	N/A	N/A	41,271	19,247	1,039,364	534,587
2016-08-23	$16.20	$14.00	42.1%	12.1%	34.8%	9.0%	42.2%	1.9%	5.7%	15.0M	-695.2M	-3.8M	0.53	3.51	N/A	N/A	41,967	22,162	1,059,499	546,149
2016-08-24	$15.51	$14.00	43.1%	12.3%	36.6%	11.3%	42.9%	2.7%	5.0%	13.4M	-523.2M	-3.8M	0.73	10.48	N/A	N/A	34,254	25,031	1,065,011	557,017
2016-08-25	$16.20	$14.00	43.6%	12.1%	37.3%	12.3%	42.1%	2.1%	5.3%	15.3M	-698.0M	-3.9M	0.48	7.95	N/A	N/A	44,336	21,457	1,076,110	567,485
2016-08-26	$16.49	$14.00	43.5%	11.7%	37.1%	11.9%	41.2%	4.2%	5.7%	20.5M	-767.9M	-3.9M	0.38	6.38	N/A	N/A	58,952	22,660	1,082,822	572,826
2016-08-29	$16.89	$14.00	46.1%	11.9%	36.5%	17.7%	42.1%	2.1%	-0.7%	15.8M	-844.8M	-3.8M	0.46	8.74	N/A	N/A	47,011	21,854	1,073,176	557,988
2016-08-30	$16.70	$14.00	49.3%	12.9%	36.3%	24.7%	45.4%	4.8%	-0.4%	16.0M	-803.4M	-4.0M	1.20	7.66	N/A	N/A	37,657	45,259	1,086,645	564,204
2016-08-31	$16.49	$14.00	49.5%	12.4%	37.3%	25.1%	43.7%	4.1%	-0.7%	16.9M	-744.3M	-4.0M	0.61	4.30	N/A	N/A	32,888	20,026	1,101,706	594,360