MU Options History — January 2018

In January 2018, MU traded between $41.70 and $46.95. ATM implied volatility averaged 42.8%, placing in the 35.9% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded below realized volatility by 2.5% (HV 20d: 45.3%). Max pain ranged from $34.00 to $44.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.40.

Notable Days

2018-01-04: Highest Volume — 373,584 contracts
2018-01-09: Largest IV spike — 9.6% change
2018-01-30: Highest IV Rank — 47.7%
2018-01-30: Largest Expected Move — 14.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.70	$41.70	$46.95	$43.64	$43.65
Max Pain	$43.00	$34.00	$44.00	$34.00	$44.00
ATM IV	42.8%	40.5%	46.8%	42.1%	42.5%
Expected Move	12.3%	11.6%	14.0%	11.6%	12.4%
HV 20d	45.3%	41.4%	48.3%	44.7%	42.8%
HV 60d	42.8%	41.1%	43.7%	41.1%	43.4%
IV Rank	35.9%	29.3%	47.7%	34.0%	35.1%
IV Percentile	66.6%	56.7%	82.5%	67.1%	64.7%
Term Structure	-0.2%	-1.8%	0.5%	-0.2%	0.3%
VWIV	43.8%	41.4%	49.5%	41.6%	43.8%
Skew 25d	-0.2%	-1.3%	1.4%	1.4%	-0.0%
Skew 10d	-0.6%	-3.0%	2.9%	2.9%	0.7%
Call IV 25d	43.9%	41.3%	48.3%	42.3%	43.2%
Put IV 25d	43.7%	41.8%	47.6%	43.7%	43.2%
Bid-Ask Spread %	2.35	1.66	4.38	4.38	2.63
Gamma HHI	0.10	0.08	0.29	0.08	0.09
Net GEX	86.5M	38.6M	130.5M	95.1M	89.0M
Net DEX	-2.47B	-5.27B	-634.6M	-3.21B	-1.54B
Net VEX	-11.8M	-12.5M	-11.0M	-11.9M	-12.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.29	0.67	0.32	0.35
Total Volume	236,034.857	143,522	373,584	238,556	221,280
Total OI	2,686,883.286	1,802,423	3,276,918	2,937,235	2,147,029

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
2018-01-02	$43.64	$34.00	42.1%	11.6%	44.7%	34.0%	41.6%	1.4%	-0.2%	95.1M	-3.21B	-11.9M	0.32	4.38	N/A	N/A	180,823	57,733	1,811,728	1,125,507
2018-01-03	$44.99	$34.00	41.8%	11.9%	41.4%	33.1%	42.2%	0.5%	0.1%	116.1M	-4.06B	-12.2M	0.35	3.23	N/A	N/A	179,413	63,178	1,862,647	1,140,698
2018-01-04	$46.95	$43.00	43.1%	12.4%	42.5%	36.9%	43.7%	0.4%	0.3%	130.5M	-5.27B	-12.1M	0.29	2.04	N/A	N/A	290,322	83,262	1,899,814	1,151,918
2018-01-05	$45.73	$44.00	40.5%	11.7%	44.0%	29.3%	41.4%	0.7%	-0.1%	116.7M	-4.48B	-12.2M	0.53	2.29	N/A	N/A	202,834	108,415	1,942,591	1,178,726
2018-01-08	$45.60	$44.00	41.1%	11.7%	42.3%	31.1%	41.7%	0.3%	0.0%	115.6M	-4.11B	-12.0M	0.30	1.90	N/A	N/A	160,608	48,763	1,851,655	1,178,144
2018-01-09	$42.91	$44.00	45.0%	12.6%	47.9%	42.5%	44.7%	0.7%	-0.7%	80.8M	-2.53B	-11.8M	0.44	3.67	N/A	N/A	230,363	102,181	1,872,525	1,187,608
2018-01-10	$43.28	$44.00	44.5%	12.7%	48.0%	41.1%	44.9%	0.1%	-0.3%	88.9M	-2.77B	-12.1M	0.32	1.76	N/A	N/A	191,410	61,089	1,940,922	1,235,672
2018-01-11	$42.77	$44.00	42.9%	12.2%	47.3%	36.4%	43.7%	-0.5%	-0.4%	88.9M	-2.47B	-11.9M	0.37	2.34	N/A	N/A	140,907	52,357	1,978,877	1,250,090
2018-01-12	$42.76	$44.00	42.6%	11.9%	47.3%	35.6%	42.5%	-0.8%	-1.8%	84.5M	-2.41B	-11.7M	0.31	1.66	N/A	N/A	197,603	60,724	2,004,113	1,272,805
2018-01-16	$42.96	$44.00	42.8%	12.2%	47.3%	36.0%	43.4%	0.0%	0.3%	87.6M	-2.52B	-11.1M	0.43	2.16	N/A	N/A	179,263	76,443	1,893,068	1,232,026
2018-01-17	$44.22	$44.00	42.6%	12.2%	48.3%	35.4%	43.3%	-1.0%	-0.5%	106.7M	-3.31B	-11.5M	0.35	1.78	N/A	N/A	168,335	58,252	1,911,810	1,256,372
2018-01-18	$43.98	$44.00	40.9%	11.8%	47.0%	30.7%	41.7%	-0.5%	-0.8%	103.5M	-3.14B	-11.4M	0.51	2.05	N/A	N/A	94,905	48,617	1,939,534	1,269,496
2018-01-19	$42.69	$44.00	41.7%	12.0%	48.1%	32.8%	42.8%	-0.2%	-0.8%	38.6M	-2.29B	-11.0M	0.67	2.07	N/A	N/A	194,168	130,966	1,946,554	1,277,811
2018-01-22	$42.88	$44.00	41.8%	12.2%	45.8%	33.2%	43.3%	-0.5%	0.0%	45.3M	-895.4M	-11.2M	0.35	1.99	N/A	N/A	117,233	41,352	1,136,096	666,327
2018-01-23	$43.91	$44.00	41.4%	12.2%	45.6%	32.1%	43.0%	-0.9%	-0.0%	66.8M	-1.42B	-11.7M	0.33	2.34	N/A	N/A	174,642	58,293	1,192,463	690,631
2018-01-24	$43.08	$44.00	42.4%	12.5%	46.0%	35.0%	44.4%	-0.7%	-0.2%	60.6M	-1.11B	-11.8M	0.32	1.91	N/A	N/A	124,823	40,027	1,235,913	709,698
2018-01-25	$43.03	$44.00	42.8%	12.6%	43.2%	36.0%	44.5%	0.1%	-0.2%	71.6M	-1.14B	-11.8M	0.41	2.58	N/A	N/A	126,440	51,582	1,281,880	722,192
2018-01-26	$43.57	$44.00	42.5%	12.4%	43.4%	35.1%	44.1%	-0.9%	0.5%	129.8M	-1.42B	-12.1M	0.38	1.92	N/A	N/A	158,220	59,815	1,309,069	741,507
2018-01-29	$43.33	$44.00	46.1%	13.7%	43.0%	45.5%	48.7%	-1.3%	-0.1%	59.9M	-1.23B	-12.1M	0.65	2.48	N/A	N/A	106,255	68,932	1,230,357	717,484
2018-01-30	$41.70	$44.00	46.8%	14.0%	44.9%	47.7%	49.5%	-0.7%	-0.1%	39.6M	-634.6M	-11.9M	0.36	2.09	N/A	N/A	180,660	64,244	1,273,610	757,582
2018-01-31	$43.65	$44.00	42.5%	12.4%	42.8%	35.1%	43.8%	-0.0%	0.3%	89.0M	-1.54B	-12.5M	0.35	2.63	N/A	N/A	163,541	57,739	1,356,500	790,529