MU Options History — May 2020

In May 2020, MU traded between $43.06 and $49.24. ATM implied volatility averaged 52.3%, placing in the 24.4% IV rank vs the trailing year. The 30-day expected move averaged 15.0%. IV traded below realized volatility by 12.6% (HV 20d: 64.8%). Max pain ranged from $45.00 to $46.00. Net GEX was positive for 8 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 0.64.

Notable Days

  • 2020-05-27: Highest Volume — 307,926 contracts
  • 2020-05-13: Largest IV spike — 10.2% change
  • 2020-05-01: Highest IV Rank — 29.3%
  • 2020-05-04: Largest Expected Move — 16.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.02$43.06$49.24$45.00$47.69
Max Pain$45.95$45.00$46.00$45.00$46.00
ATM IV52.3%47.0%56.5%56.5%51.2%
Expected Move15.0%13.6%16.7%16.6%14.0%
HV 20d64.8%59.5%75.4%75.1%62.2%
HV 60d83.3%81.9%85.0%82.2%84.5%
IV Rank24.4%18.4%29.3%29.3%23.2%
IV Percentile73.4%61.9%84.1%84.1%69.0%
Term Structure1.9%-0.3%7.0%1.3%5.1%
VWIV52.6%47.9%58.7%56.7%48.2%
Skew 25d8.3%6.0%10.4%9.1%9.3%
Skew 10d17.3%8.3%43.7%19.9%43.7%
Call IV 25d48.4%43.0%53.4%52.4%47.4%
Put IV 25d56.7%49.4%62.3%61.5%56.8%
Bid-Ask Spread %3.822.547.972.927.97
Gamma HHI0.050.040.110.090.11
Net GEX125.6K-11.8M18.9M4.1M18.9M
Net DEX34.1M-489.3M525.4M200.6M-287.4M
Net VEX-9.3M-9.8M-8.8M-9.4M-9.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.640.311.300.760.44
Total Volume113,753.860,823307,926121,370137,815
Total OI1,302,190.951,210,4761,440,0261,301,4991,440,026

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-05-01$45.00$45.0056.5%16.6%75.1%29.3%56.7%9.1%1.3%4.1M200.6M-9.4M0.762.92N/AN/A69,12552,245602,501698,998
2020-05-04$44.35$46.0056.5%16.7%75.4%29.3%58.7%9.9%0.8%-7.0M265.6M-9.2M1.305.22N/AN/A32,93942,788572,806676,468
2020-05-05$45.33$46.0052.6%16.1%61.3%24.8%56.4%9.5%-0.3%-3.5M117.8M-9.3M0.424.78N/AN/A56,03323,484584,049682,065
2020-05-06$46.09$46.0052.5%15.7%61.2%24.8%54.2%9.2%-0.1%-860.4K-597.5K-9.4M0.673.76N/AN/A38,65525,769591,475689,480
2020-05-07$46.57$46.0050.4%14.7%60.7%22.3%54.0%9.0%1.0%976.0K-48.5M-9.4M1.213.60N/AN/A30,38336,612594,027702,327
2020-05-08$48.16$46.0047.0%14.2%59.5%18.4%50.3%6.5%0.6%12.0M-340.0M-9.6M0.793.59N/AN/A55,62344,101600,438717,151
2020-05-11$48.33$46.0047.8%14.4%59.5%19.3%50.4%6.2%2.4%3.5M-317.4M-9.5M0.402.61N/AN/A56,76722,609582,449696,844
2020-05-12$45.94$46.0049.7%14.7%61.5%21.5%51.5%7.4%1.6%-3.2M75.2M-9.2M0.622.61N/AN/A64,40339,821601,503702,034
2020-05-13$43.06$46.0054.8%16.1%65.1%27.4%54.1%6.4%0.5%-11.8M525.4M-8.8M0.676.56N/AN/A73,46749,529612,216715,454
2020-05-14$45.51$46.0055.7%16.1%67.8%28.4%56.1%8.3%0.1%-3.5M119.4M-9.3M0.413.45N/AN/A101,68541,234621,551721,947
2020-05-15$44.16$46.0056.4%16.4%68.5%29.2%56.5%8.7%1.4%-11.2M326.7M-9.2M0.594.80N/AN/A69,46740,933643,950734,182
2020-05-18$46.09$46.0052.0%15.1%67.6%24.1%52.3%9.1%2.8%-1.4M43.8M-9.2M0.402.54N/AN/A73,80829,462557,340653,136
2020-05-19$45.51$46.0052.0%15.0%65.5%24.2%51.6%8.3%3.0%-593.5K94.3M-9.2M0.693.03N/AN/A36,04224,781579,731661,696
2020-05-20$46.64$46.0051.2%14.7%62.7%23.3%51.5%8.1%4.6%3.8M-86.0M-9.3M0.432.55N/AN/A56,42324,507587,795670,003
2020-05-21$45.33$46.0051.2%14.6%63.6%23.2%50.5%8.5%0.4%-1.0M155.2M-9.1M0.633.35N/AN/A55,03534,884603,369678,817
2020-05-22$44.81$46.0051.1%14.0%63.8%23.1%51.1%8.5%7.0%-9.1M272.3M-8.9M1.282.56N/AN/A47,40060,574612,653691,335
2020-05-26$45.93$46.0051.9%13.6%63.9%24.0%47.9%6.0%-0.3%-1.0M82.2M-9.0M0.503.48N/AN/A71,95935,936588,295687,897
2020-05-27$49.24$46.0053.7%14.3%68.4%26.1%51.2%10.4%0.7%9.2M-489.3M-9.6M0.313.36N/AN/A234,25573,671610,040696,275
2020-05-28$46.56$46.0050.8%13.9%63.5%22.8%48.4%7.0%4.7%4.1M-27.3M-9.4M0.343.66N/AN/A157,92752,925660,800720,696
2020-05-29$47.69$46.0051.2%14.0%62.2%23.2%48.2%9.3%5.1%18.9M-287.4M-9.8M0.447.97N/AN/A95,88241,933705,100734,926