MU Options History — March 2018

In March 2018, MU traded between $47.62 and $61.18. ATM implied volatility averaged 54.7%, placing in the 70.8% IV rank vs the trailing year. The 30-day expected move averaged 15.1%. IV traded above realized volatility by 6.6% (HV 20d: 48.1%). Max pain ranged from $42.00 to $47.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.43.

Notable Days

2018-03-12: Highest Volume — 772,290 contracts
2018-03-23: Largest IV drop — 12.0% change
2018-03-19: Highest IV Rank — 94.3%
2018-03-19: Largest Expected Move — 17.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$55.81	$47.62	$61.18	$47.62	$52.15
Max Pain	$44.29	$42.00	$47.00	$43.00	$47.00
ATM IV	54.7%	46.5%	62.8%	52.1%	46.5%
Expected Move	15.1%	12.3%	17.8%	12.6%	12.8%
HV 20d	48.1%	33.8%	59.3%	55.9%	58.4%
HV 60d	49.7%	46.6%	53.3%	47.4%	52.0%
IV Rank	70.8%	46.9%	94.3%	63.1%	46.9%
IV Percentile	89.9%	67.9%	99.2%	88.9%	67.9%
Term Structure	-1.2%	-2.6%	1.0%	-2.3%	0.4%
VWIV	53.1%	43.8%	62.5%	44.4%	44.9%
Skew 25d	0.7%	-1.6%	3.9%	2.3%	3.3%
Skew 10d	2.3%	-2.7%	7.9%	4.5%	7.2%
Call IV 25d	55.0%	45.2%	63.4%	52.2%	45.2%
Put IV 25d	55.8%	48.5%	62.7%	54.5%	48.5%
Bid-Ask Spread %	2.50	1.35	6.31	2.73	3.23
Gamma HHI	0.10	0.07	0.13	0.11	0.08
Net GEX	64.3M	35.5M	83.5M	75.2M	52.0M
Net DEX	-4.50B	-6.57B	-1.94B	-2.75B	-2.22B
Net VEX	-13.9M	-16.2M	-11.6M	-13.8M	-15.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.43	0.28	0.63	0.38	0.46
Total Volume	390,174.19	225,158	772,290	283,202	246,587
Total OI	2,392,104.19	2,062,344	2,732,869	2,119,936	2,732,869

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
2018-03-01	$47.62	$43.00	52.1%	12.6%	55.9%	63.1%	44.4%	2.3%	-2.3%	75.2M	-2.75B	-13.8M	0.38	2.73	N/A	N/A	205,379	77,823	1,285,700	834,236
2018-03-02	$49.16	$43.00	50.3%	12.3%	55.4%	57.8%	43.8%	2.6%	-2.3%	69.9M	-3.51B	-13.6M	0.38	3.43	N/A	N/A	191,285	73,240	1,320,674	846,733
2018-03-05	$52.13	$42.00	51.1%	13.8%	55.3%	60.2%	47.9%	0.6%	-1.6%	68.0M	-4.27B	-12.4M	0.28	2.05	N/A	N/A	323,988	90,407	1,243,031	819,313
2018-03-06	$53.73	$42.00	52.4%	14.2%	53.6%	64.1%	49.9%	0.0%	-1.6%	65.6M	-4.76B	-12.1M	0.35	1.61	N/A	N/A	335,307	118,435	1,263,229	847,907
2018-03-07	$53.90	$42.00	53.7%	14.6%	44.0%	67.8%	51.4%	-0.7%	-1.5%	72.3M	-4.71B	-12.4M	0.36	1.73	N/A	N/A	240,549	86,611	1,307,633	879,653
2018-03-08	$55.20	$42.00	51.9%	13.9%	40.4%	62.4%	49.5%	0.7%	-2.2%	83.5M	-5.21B	-12.0M	0.42	1.35	N/A	N/A	200,835	84,490	1,340,781	901,458
2018-03-09	$54.57	$42.00	52.1%	14.2%	33.8%	63.2%	50.0%	-0.2%	-1.5%	82.5M	-4.93B	-12.2M	0.49	1.61	N/A	N/A	274,639	133,266	1,361,854	916,751
2018-03-12	$59.33	$43.00	57.1%	15.7%	41.5%	77.8%	55.3%	-0.7%	-1.7%	56.9M	-6.12B	-11.6M	0.38	1.80	N/A	N/A	557,706	214,584	1,329,259	913,482
2018-03-13	$59.43	$44.00	61.9%	17.2%	41.1%	91.8%	60.5%	-1.4%	-1.5%	60.3M	-5.94B	-12.9M	0.40	2.32	N/A	N/A	449,398	181,808	1,403,197	981,795
2018-03-14	$59.84	$45.00	61.5%	17.0%	41.2%	90.6%	61.1%	-1.6%	-2.6%	70.4M	-6.09B	-13.6M	0.52	1.58	N/A	N/A	270,794	139,570	1,493,393	1,041,000
2018-03-15	$58.84	$45.00	59.7%	16.6%	42.9%	85.3%	58.7%	-1.1%	-2.0%	76.4M	-5.73B	-14.2M	0.39	1.50	N/A	N/A	162,061	63,097	1,528,073	1,042,631
2018-03-16	$60.66	$45.00	59.0%	16.5%	42.8%	83.2%	58.5%	-1.5%	-1.9%	67.5M	-6.57B	-13.6M	0.42	3.32	N/A	N/A	332,767	138,968	1,544,735	1,054,589
2018-03-19	$60.15	$45.00	62.8%	17.8%	43.7%	94.3%	62.5%	-0.7%	-0.9%	59.1M	-5.09B	-14.3M	0.41	1.63	N/A	N/A	193,944	80,487	1,334,433	915,399
2018-03-20	$61.18	$45.00	58.5%	16.7%	43.7%	81.8%	58.8%	-0.2%	-0.7%	67.8M	-5.55B	-14.1M	0.63	2.02	N/A	N/A	171,003	107,024	1,390,754	951,835
2018-03-21	$61.07	$45.00	56.8%	16.3%	43.3%	76.8%	57.4%	0.9%	-0.6%	69.1M	-5.52B	-14.5M	0.30	2.35	N/A	N/A	276,907	83,177	1,437,274	1,004,004
2018-03-22	$58.93	$45.00	59.2%	17.0%	46.3%	83.9%	59.7%	1.9%	-1.3%	69.4M	-4.81B	-15.4M	0.48	6.31	N/A	N/A	288,180	139,066	1,521,064	1,031,497
2018-03-23	$54.48	$45.00	52.1%	14.8%	54.9%	63.3%	51.8%	2.1%	1.0%	35.5M	-2.87B	-15.7M	0.56	3.59	N/A	N/A	470,175	262,751	1,603,595	1,090,724
2018-03-26	$55.53	$46.00	48.0%	13.6%	54.4%	51.3%	47.4%	2.5%	0.0%	59.0M	-3.49B	-15.5M	0.39	1.66	N/A	N/A	246,022	96,795	1,464,383	1,011,824
2018-03-27	$52.46	$47.00	52.4%	15.0%	58.8%	64.1%	51.9%	2.7%	-0.4%	48.5M	-2.36B	-16.2M	0.45	4.25	N/A	N/A	207,005	93,201	1,539,536	1,050,428
2018-03-28	$51.56	$47.00	49.9%	14.1%	59.3%	56.8%	48.8%	3.9%	0.4%	42.0M	-1.94B	-15.8M	0.56	2.36	N/A	N/A	182,213	102,114	1,580,527	1,072,935
2018-03-29	$52.15	$47.00	46.5%	12.8%	58.4%	46.9%	44.9%	3.3%	0.4%	52.0M	-2.22B	-15.8M	0.46	3.23	N/A	N/A	168,775	77,812	1,630,911	1,101,958