MU Options History — August 2025

In August 2025, MU traded between $104.63 and $127.51. ATM implied volatility averaged 45.6%, placing in the 16.4% IV rank vs the trailing year. The 30-day expected move averaged 12.5%. IV traded above realized volatility by 1.8% (HV 20d: 43.8%). Max pain ranged from $105.00 to $110.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.69.

Notable Days

2025-08-08: Highest Volume — 295,701 contracts
2025-08-25: Largest IV spike — 9.7% change
2025-08-27: Highest IV Rank — 31.9%
2025-08-01: Largest Expected Move — 13.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$117.55	$104.63	$127.51	$104.63	$118.67
Max Pain	$106.90	$105.00	$110.00	$110.00	$110.00
ATM IV	45.6%	41.1%	54.2%	45.9%	53.5%
Expected Move	12.5%	11.8%	13.3%	13.3%	11.8%
HV 20d	43.8%	37.5%	47.2%	38.9%	43.5%
HV 60d	38.0%	35.7%	39.2%	38.3%	38.9%
IV Rank	16.4%	8.3%	31.9%	16.9%	30.5%
IV Percentile	32.0%	14.3%	61.1%	34.1%	60.3%
Term Structure	1.4%	-2.0%	7.8%	-1.3%	-2.0%
VWIV	44.4%	42.0%	46.6%	46.6%	42.0%
Skew 25d	2.3%	0.5%	4.5%	4.5%	2.1%
Skew 10d	4.0%	-14.5%	7.5%	7.1%	4.3%
Call IV 25d	45.2%	41.3%	54.2%	45.4%	53.9%
Put IV 25d	47.6%	42.6%	56.0%	50.0%	56.0%
Bid-Ask Spread %	14.46	3.42	30.42	17.01	7.48
Gamma HHI	0.06	0.04	0.13	0.13	0.04
Net GEX	32.3M	-83.3M	96.1M	-83.3M	35.8M
Net DEX	-2.48B	-4.84B	95.2M	95.2M	-2.29B
Net VEX	-24.5M	-24.9M	-24.1M	-24.3M	-24.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.69	0.39	1.23	1.23	0.49
Total Volume	136,207.571	59,039	295,701	184,396	158,977
Total OI	1,706,487.905	1,575,832	1,825,380	1,767,763	1,723,415

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
2025-08-01	$104.63	$110.00	45.9%	13.3%	38.9%	16.9%	46.6%	4.5%	-1.3%	-83.3M	95.2M	-24.3M	1.23	17.01	N/A	N/A	82,600	101,796	823,003	944,760
2025-08-04	$107.40	$105.00	43.5%	12.7%	40.2%	12.5%	44.5%	3.1%	0.0%	-19.1M	-716.0M	-24.5M	0.83	29.83	N/A	N/A	66,950	55,306	764,894	915,697
2025-08-05	$109.18	$105.00	43.5%	12.7%	37.6%	12.5%	44.5%	4.3%	-0.2%	220.0K	-1.14B	-24.9M	0.95	26.23	N/A	N/A	58,604	55,756	787,715	937,492
2025-08-06	$108.84	$105.00	43.0%	12.8%	37.5%	11.6%	45.4%	3.3%	-0.3%	7.3M	-1.12B	-24.9M	0.64	9.56	N/A	N/A	52,937	33,693	803,924	936,818
2025-08-07	$111.84	$105.00	42.6%	12.6%	39.2%	10.9%	44.1%	2.6%	-0.9%	46.6M	-1.95B	-24.8M	0.60	20.62	N/A	N/A	98,044	58,563	820,940	948,982
2025-08-08	$118.81	$105.00	42.5%	12.4%	45.1%	10.9%	44.3%	1.4%	-0.3%	75.8M	-3.65B	-24.6M	0.52	24.88	N/A	N/A	194,853	100,848	812,719	964,952
2025-08-11	$122.69	$105.00	44.0%	12.8%	43.8%	13.4%	45.6%	1.5%	0.9%	66.1M	-3.87B	-24.6M	0.73	20.68	N/A	N/A	145,171	105,366	764,140	941,772
2025-08-12	$127.51	$105.00	41.4%	12.0%	45.6%	8.8%	42.6%	1.4%	0.7%	96.1M	-4.84B	-24.1M	0.42	14.98	N/A	N/A	151,979	64,578	779,776	957,039
2025-08-13	$123.97	$105.00	41.1%	12.2%	45.3%	8.3%	43.2%	1.2%	1.1%	74.1M	-4.00B	-24.8M	0.43	20.54	N/A	N/A	77,422	33,452	808,314	978,600
2025-08-14	$124.81	$105.00	41.8%	12.2%	43.6%	9.4%	43.3%	1.6%	0.9%	86.5M	-4.25B	-24.4M	0.58	30.42	N/A	N/A	53,980	31,274	820,639	987,805
2025-08-15	$121.23	$105.00	41.9%	12.2%	45.1%	9.7%	43.8%	2.0%	1.0%	46.1M	-3.43B	-24.3M	0.63	13.81	N/A	N/A	101,835	64,065	830,340	995,040
2025-08-18	$123.11	$105.00	41.8%	12.0%	45.1%	9.4%	42.6%	2.1%	6.7%	47.0M	-3.13B	-24.2M	0.53	6.61	N/A	N/A	61,478	32,606	700,227	875,605
2025-08-19	$122.49	$105.00	43.5%	12.5%	42.4%	12.6%	44.0%	3.2%	6.5%	44.8M	-2.99B	-24.5M	0.75	11.66	N/A	N/A	36,218	27,115	719,654	894,795
2025-08-20	$116.27	$105.00	45.6%	13.1%	47.2%	16.4%	46.4%	3.8%	7.1%	4.2M	-1.70B	-24.5M	1.06	7.24	N/A	N/A	87,447	92,462	725,619	903,113
2025-08-21	$115.89	$110.00	46.8%	13.1%	46.8%	18.5%	46.1%	3.5%	6.6%	2.1M	-1.67B	-24.6M	0.65	13.06	N/A	N/A	40,557	26,332	745,573	926,242
2025-08-22	$117.84	$110.00	46.0%	12.4%	47.1%	17.1%	44.1%	2.2%	7.8%	-815.3K	-2.13B	-24.4M	0.71	11.94	N/A	N/A	80,494	56,861	758,885	933,491
2025-08-25	$116.75	$110.00	50.5%	12.6%	47.2%	25.1%	46.3%	0.5%	-1.2%	20.3M	-1.94B	-24.3M	0.82	4.47	N/A	N/A	36,644	29,978	721,242	895,856
2025-08-26	$116.77	$110.00	52.6%	12.8%	47.1%	29.0%	45.1%	1.7%	-1.6%	22.3M	-2.00B	-24.3M	0.39	4.71	N/A	N/A	42,434	16,605	734,830	906,215
2025-08-27	$117.81	$110.00	54.2%	12.9%	46.9%	31.9%	45.8%	1.9%	-1.6%	32.3M	-2.25B	-24.1M	0.73	4.46	N/A	N/A	48,394	35,130	746,500	912,127
2025-08-28	$122.06	$110.00	52.2%	12.2%	44.8%	28.3%	42.9%	1.5%	-1.5%	74.2M	-3.17B	-24.2M	0.71	3.42	N/A	N/A	94,383	67,172	759,775	927,721
2025-08-29	$118.67	$110.00	53.5%	11.8%	43.5%	30.5%	42.0%	2.1%	-2.0%	35.8M	-2.29B	-24.4M	0.49	7.48	N/A	N/A	106,420	52,557	777,074	946,341