MU Options History — January 2026

In January 2026, MU traded between $311.58 and $435.69. ATM implied volatility averaged 62.4%, placing in the 45.4% IV rank vs the trailing year. The 30-day expected move averaged 17.8%. IV traded below realized volatility by 5.2% (HV 20d: 67.6%). Max pain ranged from $180.00 to $320.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.76.

Notable Days

2026-01-16: Highest Volume — 864,736 contracts
2026-01-20: Largest IV spike — 13.8% change
2026-01-30: Highest IV Rank — 60.8%
2026-01-30: Largest Expected Move — 20.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$366.34	$311.58	$435.69	$314.93	$415.63
Max Pain	$268.50	$180.00	$320.00	$180.00	$320.00
ATM IV	62.4%	55.8%	70.8%	58.6%	70.8%
Expected Move	17.8%	15.8%	20.0%	16.2%	20.0%
HV 20d	67.6%	59.8%	76.5%	71.8%	65.5%
HV 60d	68.9%	67.3%	70.5%	67.7%	70.5%
IV Rank	45.4%	33.2%	60.8%	38.8%	60.8%
IV Percentile	70.8%	50.4%	94.0%	59.5%	94.0%
Term Structure	-0.1%	-1.3%	1.5%	0.8%	-0.8%
VWIV	63.4%	56.5%	71.9%	58.1%	70.8%
Skew 25d	0.7%	-1.2%	4.3%	2.3%	4.3%
Skew 10d	2.3%	0.3%	4.9%	4.0%	4.9%
Call IV 25d	63.1%	56.6%	71.7%	57.6%	69.7%
Put IV 25d	63.8%	56.9%	74.0%	60.0%	74.0%
Bid-Ask Spread %	28.34	18.68	42.63	22.88	26.04
Gamma HHI	0.09	0.03	0.43	0.15	0.03
Net GEX	153.8M	38.8M	487.4M	190.4M	64.3M
Net DEX	-19.20B	-24.35B	-15.20B	-17.49B	-19.87B
Net VEX	-49.1M	-67.9M	-36.1M	-36.1M	-67.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.76	0.58	0.88	0.84	0.78
Total Volume	459,684.9	169,078	864,736	683,074	806,460
Total OI	1,864,431.2	1,555,202	2,090,330	1,733,635	2,090,330

Daily Data (20 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
2026-01-02	$314.93	$180.00	58.6%	16.2%	71.8%	38.8%	58.1%	2.3%	0.8%	190.4M	-17.49B	-36.1M	0.84	22.88	N/A	N/A	371,801	311,273	753,970	979,665
2026-01-05	$311.58	$240.00	59.6%	17.0%	69.6%	40.6%	60.5%	0.3%	-0.3%	103.8M	-15.28B	-37.3M	0.86	36.38	N/A	N/A	163,917	141,316	725,940	976,621
2026-01-06	$341.90	$250.00	63.3%	18.0%	73.7%	47.3%	63.7%	0.0%	0.2%	163.1M	-20.04B	-37.5M	0.68	30.21	N/A	N/A	333,390	225,805	771,540	1,019,062
2026-01-07	$338.37	$250.00	60.9%	17.6%	74.3%	43.0%	62.8%	0.4%	1.5%	136.5M	-19.05B	-41.1M	0.84	24.57	N/A	N/A	173,765	145,747	827,230	1,091,013
2026-01-08	$327.02	$250.00	61.0%	17.2%	76.0%	42.8%	61.0%	0.4%	-0.9%	57.8M	-16.47B	-42.4M	0.76	32.13	N/A	N/A	205,399	156,461	858,005	1,124,956
2026-01-09	$344.01	$250.00	58.9%	16.8%	76.5%	38.9%	59.6%	0.2%	0.6%	194.5M	-21.17B	-42.3M	0.58	33.69	N/A	N/A	308,906	178,121	893,251	1,144,492
2026-01-12	$346.20	$250.00	60.0%	17.0%	75.6%	40.8%	60.1%	-0.4%	0.1%	115.9M	-19.37B	-43.4M	0.70	40.55	N/A	N/A	131,744	92,440	815,432	1,044,863
2026-01-13	$336.89	$260.00	59.6%	16.7%	70.3%	40.1%	59.3%	0.8%	-1.1%	64.2M	-17.51B	-45.0M	0.62	36.98	N/A	N/A	134,657	83,234	852,292	1,087,085
2026-01-14	$331.57	$260.00	58.1%	16.4%	70.4%	37.3%	58.4%	1.0%	-0.9%	38.8M	-16.35B	-45.4M	0.70	42.63	N/A	N/A	99,629	69,449	879,883	1,109,424
2026-01-15	$338.09	$260.00	56.6%	16.1%	69.3%	34.6%	57.5%	1.6%	-0.3%	49.4M	-17.89B	-45.5M	0.87	36.44	N/A	N/A	157,220	136,206	899,161	1,122,833
2026-01-16	$359.47	$260.00	55.8%	15.8%	68.2%	33.2%	56.5%	0.3%	-1.3%	487.4M	-23.06B	-44.6M	0.88	28.69	N/A	N/A	460,219	404,517	914,197	1,149,766
2026-01-20	$367.36	$280.00	63.5%	18.2%	60.6%	47.4%	64.8%	0.8%	-0.2%	75.8M	-15.20B	-48.4M	0.66	20.48	N/A	N/A	305,799	201,139	673,734	881,468
2026-01-21	$388.00	$280.00	63.8%	18.3%	60.1%	48.0%	65.6%	0.2%	0.3%	173.4M	-18.77B	-51.2M	0.77	20.73	N/A	N/A	300,183	231,949	737,073	902,193
2026-01-22	$396.36	$280.00	64.0%	18.3%	59.9%	48.2%	66.0%	0.3%	-0.1%	195.9M	-20.01B	-53.6M	0.83	25.09	N/A	N/A	264,451	220,052	773,689	968,216
2026-01-23	$398.48	$290.00	64.0%	18.3%	59.8%	48.3%	66.1%	0.6%	0.4%	333.1M	-20.39B	-56.5M	0.80	18.68	N/A	N/A	407,669	325,548	810,211	1,032,785
2026-01-26	$390.35	$300.00	64.5%	18.6%	61.0%	49.3%	66.2%	-0.1%	0.4%	94.3M	-17.22B	-57.7M	0.79	27.70	N/A	N/A	139,436	110,274	754,315	961,645
2026-01-27	$411.10	$300.00	65.2%	18.8%	61.9%	50.5%	67.9%	-1.2%	-0.0%	162.8M	-20.72B	-58.6M	0.66	18.92	N/A	N/A	224,957	147,437	790,755	999,887
2026-01-28	$435.69	$300.00	70.1%	20.0%	63.5%	59.6%	71.6%	-0.3%	-0.3%	195.3M	-24.35B	-61.4M	0.79	23.41	N/A	N/A	295,836	234,161	818,888	1,048,062
2026-01-29	$433.80	$310.00	69.9%	19.9%	63.7%	59.1%	71.9%	2.4%	-0.8%	179.8M	-23.76B	-65.1M	0.88	20.58	N/A	N/A	261,666	231,465	868,626	1,136,066
2026-01-30	$415.63	$320.00	70.8%	20.0%	65.5%	60.8%	70.8%	4.3%	-0.8%	64.3M	-19.87B	-67.9M	0.78	26.04	N/A	N/A	452,441	354,019	907,127	1,183,203