MU Options History — April 2018

In April 2018, MU traded between $46.09 and $53.95. ATM implied volatility averaged 48.6%, placing in the 52.9% IV rank vs the trailing year. The 30-day expected move averaged 13.7%. IV traded below realized volatility by 8.8% (HV 20d: 57.4%). Max pain ranged from $47.00 to $50.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.54.

Notable Days

2018-04-05: Highest Volume — 452,370 contracts
2018-04-19: Largest IV spike — 10.4% change
2018-04-06: Highest IV Rank — 68.5%
2018-04-06: Largest Expected Move — 15.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$50.20	$46.09	$53.95	$50.08	$46.09
Max Pain	$49.57	$47.00	$50.00	$47.00	$50.00
ATM IV	48.6%	40.6%	53.9%	50.8%	50.3%
Expected Move	13.7%	11.6%	15.1%	14.6%	14.2%
HV 20d	57.4%	51.2%	62.2%	59.6%	57.8%
HV 60d	54.4%	52.1%	57.2%	52.5%	57.1%
IV Rank	52.9%	29.7%	68.5%	59.4%	57.9%
IV Percentile	70.0%	36.5%	90.9%	79.4%	75.8%
Term Structure	-0.2%	-2.4%	2.9%	-0.2%	-0.8%
VWIV	47.8%	41.3%	52.2%	50.5%	49.5%
Skew 25d	3.6%	2.4%	5.5%	3.9%	2.4%
Skew 10d	6.7%	4.2%	10.1%	7.7%	5.0%
Call IV 25d	47.2%	40.2%	52.3%	49.3%	49.1%
Put IV 25d	50.8%	43.0%	57.7%	53.2%	51.5%
Bid-Ask Spread %	2.94	1.96	4.93	3.58	2.94
Gamma HHI	0.07	0.06	0.11	0.08	0.06
Net GEX	44.1M	4.7M	82.1M	42.9M	4.7M
Net DEX	-1.66B	-3.62B	183.8M	-1.54B	183.8M
Net VEX	-15.1M	-16.1M	-14.1M	-15.3M	-14.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.54	0.43	0.70	0.60	0.43
Total Volume	255,529.238	138,143	452,370	220,764	245,181
Total OI	2,657,038.476	1,957,929	3,115,933	2,593,821	2,172,991

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
2018-04-02	$50.08	$47.00	50.8%	14.6%	59.6%	59.4%	50.5%	3.9%	-0.2%	42.9M	-1.54B	-15.3M	0.60	3.58	N/A	N/A	137,563	83,201	1,536,051	1,057,770
2018-04-03	$51.46	$47.00	50.2%	14.0%	56.5%	57.5%	49.1%	4.0%	-0.5%	53.0M	-2.12B	-15.5M	0.48	2.15	N/A	N/A	143,065	68,290	1,567,695	1,078,328
2018-04-04	$53.44	$47.00	49.4%	13.8%	57.1%	55.2%	49.2%	4.0%	-1.0%	74.0M	-3.10B	-16.0M	0.47	2.34	N/A	N/A	162,522	75,858	1,620,547	1,100,586
2018-04-05	$49.83	$50.00	51.6%	14.8%	62.2%	61.8%	50.8%	4.8%	-0.6%	44.5M	-1.47B	-15.6M	0.51	4.93	N/A	N/A	298,898	153,472	1,666,275	1,127,938
2018-04-06	$48.67	$50.00	53.9%	15.1%	61.7%	68.5%	52.2%	5.5%	-0.7%	32.4M	-1.00B	-16.1M	0.46	3.94	N/A	N/A	267,088	123,697	1,757,494	1,174,774
2018-04-09	$48.21	$50.00	51.9%	14.7%	61.7%	62.7%	50.3%	4.1%	-0.2%	40.3M	-844.3M	-15.4M	0.46	2.80	N/A	N/A	148,418	68,345	1,658,743	1,143,460
2018-04-10	$50.49	$50.00	50.5%	14.3%	55.5%	58.4%	49.5%	4.7%	-0.4%	58.9M	-1.91B	-15.9M	0.49	2.35	N/A	N/A	148,800	73,514	1,686,378	1,156,965
2018-04-11	$50.55	$50.00	49.4%	14.2%	55.5%	55.2%	49.2%	4.3%	0.4%	63.0M	-1.97B	-15.8M	0.52	2.90	N/A	N/A	122,034	63,016	1,713,485	1,180,830
2018-04-12	$52.69	$50.00	46.7%	13.3%	58.1%	47.4%	47.8%	3.1%	-0.3%	82.1M	-3.13B	-15.7M	0.62	3.02	N/A	N/A	177,414	109,665	1,731,556	1,192,094
2018-04-13	$52.15	$50.00	46.8%	13.3%	58.0%	47.8%	47.1%	3.1%	-0.6%	75.0M	-2.81B	-15.7M	0.58	2.99	N/A	N/A	162,863	94,253	1,756,398	1,218,989
2018-04-16	$51.78	$50.00	43.7%	12.5%	56.3%	38.7%	44.1%	2.9%	1.3%	60.7M	-2.48B	-14.9M	0.47	2.97	N/A	N/A	95,042	44,717	1,701,979	1,194,172
2018-04-17	$52.31	$50.00	41.1%	11.8%	56.7%	31.2%	41.3%	2.6%	1.7%	59.5M	-2.71B	-14.7M	0.59	1.96	N/A	N/A	86,829	51,314	1,694,750	1,208,027
2018-04-18	$53.95	$50.00	40.6%	11.6%	57.7%	29.7%	41.7%	2.9%	2.9%	79.4M	-3.62B	-14.6M	0.50	2.28	N/A	N/A	212,366	105,521	1,714,765	1,223,391
2018-04-19	$51.58	$50.00	44.8%	12.7%	59.2%	42.0%	44.7%	3.2%	2.0%	51.4M	-2.32B	-14.5M	0.70	3.36	N/A	N/A	221,586	154,561	1,737,463	1,237,245
2018-04-20	$50.54	$50.00	47.8%	13.6%	58.6%	50.6%	47.3%	4.0%	1.5%	26.8M	-1.78B	-14.8M	0.68	2.96	N/A	N/A	157,179	106,643	1,800,247	1,315,686
2018-04-23	$48.91	$50.00	49.2%	13.8%	53.2%	54.7%	48.4%	3.6%	-2.0%	12.0M	-561.1M	-14.3M	0.49	2.40	N/A	N/A	169,950	83,226	1,095,811	862,118
2018-04-24	$46.86	$50.00	51.6%	14.4%	54.0%	61.8%	49.7%	3.2%	-2.4%	6.8M	-64.6M	-14.1M	0.69	3.15	N/A	N/A	165,576	113,528	1,179,356	898,691
2018-04-25	$47.32	$50.00	51.4%	14.1%	51.2%	61.1%	48.6%	3.7%	-1.2%	11.9M	-211.3M	-14.6M	0.53	3.29	N/A	N/A	128,790	68,889	1,224,312	930,183
2018-04-26	$50.11	$50.00	49.5%	13.3%	55.5%	55.7%	46.4%	3.1%	-1.5%	39.6M	-1.21B	-15.6M	0.44	2.60	N/A	N/A	138,834	60,843	1,262,935	961,724
2018-04-27	$47.28	$50.00	49.0%	13.6%	58.8%	54.1%	47.3%	2.9%	-0.9%	6.7M	-114.4M	-14.7M	0.59	2.90	N/A	N/A	172,561	101,002	1,271,379	984,227
2018-04-30	$46.09	$50.00	50.3%	14.2%	57.8%	57.9%	49.5%	2.4%	-0.8%	4.7M	183.8M	-14.1M	0.43	2.94	N/A	N/A	171,673	73,508	1,207,578	965,413