MU Options History — December 2017

In December 2017, MU traded between $39.97 and $45.75. ATM implied volatility averaged 49.3%, placing in the 54.9% IV rank vs the trailing year. The 30-day expected move averaged 13.4%. IV traded above realized volatility by 0.7% (HV 20d: 48.6%). Max pain ranged from $30.00 to $43.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 3 of 20 days. Put/call ratio averaged 0.40.

Notable Days

2017-12-20: Highest Volume — 564,779 contracts
2017-12-20: Largest IV drop — 20.3% change
2017-12-04: Highest IV Rank — 88.6%
2017-12-04: Largest Expected Move — 15.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$42.61	$39.97	$45.75	$41.99	$41.14
Max Pain	$33.00	$30.00	$43.00	$43.00	$34.00
ATM IV	49.3%	39.6%	60.8%	52.8%	40.7%
Expected Move	13.4%	11.2%	15.6%	12.5%	11.3%
HV 20d	48.6%	39.4%	51.2%	44.7%	39.4%
HV 60d	40.9%	38.8%	42.3%	39.9%	39.4%
IV Rank	54.9%	26.9%	88.6%	65.2%	29.9%
IV Percentile	82.0%	54.8%	99.2%	95.6%	59.1%
Term Structure	-1.7%	-5.2%	1.9%	-4.2%	-0.3%
VWIV	47.2%	40.1%	54.3%	43.7%	40.4%
Skew 25d	3.7%	2.1%	8.6%	4.5%	2.3%
Skew 10d	6.4%	4.2%	10.8%	5.7%	5.8%
Call IV 25d	48.3%	38.6%	57.6%	53.0%	40.3%
Put IV 25d	52.0%	41.4%	66.2%	57.5%	42.6%
Bid-Ask Spread %	3.42	2.06	5.93	4.05	2.87
Gamma HHI	0.09	0.08	0.18	0.10	0.08
Net GEX	80.4M	41.8M	141.6M	69.4M	57.3M
Net DEX	-2.60B	-4.30B	-1.44B	-1.91B	-1.82B
Net VEX	-11.4M	-12.4M	-10.3M	-10.7M	-11.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.24	0.56	0.46	0.48
Total Volume	263,588.85	114,125	564,779	319,350	307,745
Total OI	2,937,515.85	2,646,653	3,137,558	2,789,077	3,027,681

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
2017-12-01	$41.99	$43.00	52.8%	12.5%	44.7%	65.2%	43.7%	4.5%	-4.2%	69.4M	-1.91B	-10.7M	0.46	4.05	N/A	N/A	218,616	100,734	1,730,648	1,058,429
2017-12-04	$39.97	$30.00	60.8%	15.6%	47.5%	88.6%	54.3%	8.6%	-3.7%	41.8M	-1.44B	-10.3M	0.43	3.56	N/A	N/A	213,586	91,106	1,674,302	1,010,270
2017-12-05	$41.25	$30.00	56.8%	14.8%	49.1%	76.9%	51.6%	3.4%	-3.6%	59.2M	-1.95B	-10.9M	0.46	4.06	N/A	N/A	207,026	94,712	1,750,413	1,046,276
2017-12-06	$41.59	$30.00	54.4%	14.6%	48.9%	69.9%	51.8%	3.0%	-3.9%	70.3M	-2.07B	-11.5M	0.48	2.95	N/A	N/A	149,745	71,199	1,807,818	1,088,393
2017-12-07	$43.20	$31.00	53.6%	14.4%	51.0%	67.7%	50.2%	4.2%	-1.1%	102.8M	-3.04B	-12.1M	0.56	3.17	N/A	N/A	185,817	103,893	1,873,575	1,112,821
2017-12-08	$43.18	$32.00	54.8%	14.7%	50.7%	71.0%	52.0%	6.6%	-5.2%	92.7M	-3.06B	-12.4M	0.40	3.83	N/A	N/A	224,360	89,401	1,915,524	1,159,423
2017-12-11	$42.99	$32.00	51.5%	14.4%	49.6%	61.5%	50.7%	6.0%	-1.6%	95.7M	-2.84B	-12.0M	0.43	3.51	N/A	N/A	103,587	44,332	1,873,746	1,141,271
2017-12-12	$41.89	$32.00	55.2%	15.0%	49.8%	72.3%	52.3%	3.8%	-2.6%	72.8M	-2.20B	-11.8M	0.32	2.06	N/A	N/A	154,557	49,978	1,903,847	1,155,473
2017-12-13	$42.03	$32.00	52.4%	14.4%	49.7%	64.1%	50.0%	4.1%	-2.5%	77.7M	-2.26B	-11.6M	0.28	2.58	N/A	N/A	131,681	36,945	1,942,774	1,169,004
2017-12-14	$42.23	$33.00	52.1%	14.2%	49.7%	63.2%	49.5%	4.2%	-3.0%	72.8M	-2.34B	-11.3M	0.29	2.51	N/A	N/A	119,704	34,738	1,930,995	1,173,595
2017-12-15	$42.29	$33.00	51.0%	14.0%	48.9%	59.9%	48.9%	2.6%	-3.0%	54.3M	-2.42B	-11.2M	0.47	3.03	N/A	N/A	143,189	66,734	1,959,971	1,177,587
2017-12-18	$43.67	$33.00	51.8%	14.6%	50.6%	62.3%	51.1%	2.9%	-0.6%	65.9M	-3.06B	-11.5M	0.25	2.31	N/A	N/A	209,557	53,126	1,622,528	1,024,125
2017-12-19	$43.99	$33.00	51.4%	14.6%	49.1%	61.0%	51.5%	3.3%	-1.6%	75.2M	-3.31B	-11.9M	0.47	4.85	N/A	N/A	276,287	129,145	1,705,403	1,046,091
2017-12-20	$45.75	$33.00	40.9%	11.7%	49.6%	30.6%	41.3%	2.7%	0.8%	120.0M	-4.30B	-11.5M	0.44	3.45	N/A	N/A	391,694	173,085	1,800,063	1,090,714
2017-12-21	$44.42	$33.00	40.4%	11.5%	50.5%	29.1%	41.1%	2.3%	1.6%	114.2M	-3.55B	-11.8M	0.44	3.59	N/A	N/A	158,802	70,628	1,907,696	1,121,580
2017-12-22	$44.07	$34.00	39.6%	11.2%	50.1%	26.9%	40.1%	2.9%	1.9%	141.6M	-3.35B	-11.8M	0.40	2.72	N/A	N/A	158,208	63,016	1,933,261	1,148,386
2017-12-26	$42.20	$34.00	43.0%	12.0%	51.0%	36.6%	42.7%	2.4%	-0.1%	72.4M	-2.36B	-11.1M	0.24	3.27	N/A	N/A	235,418	57,552	1,776,990	1,061,494
2017-12-27	$42.47	$34.00	40.9%	11.5%	51.2%	30.7%	40.8%	2.4%	-0.3%	80.5M	-2.52B	-11.4M	0.45	4.05	N/A	N/A	78,446	35,679	1,817,948	1,081,257
2017-12-28	$41.84	$34.00	40.9%	11.3%	40.5%	30.5%	40.3%	2.1%	-0.2%	71.6M	-2.15B	-11.1M	0.30	5.93	N/A	N/A	183,109	54,640	1,836,209	1,092,736
2017-12-29	$41.14	$34.00	40.7%	11.3%	39.4%	29.9%	40.4%	2.3%	-0.3%	57.3M	-1.82B	-11.0M	0.48	2.87	N/A	N/A	208,439	99,306	1,904,589	1,123,092