USMC Options History — March 2022

In March 2022, USMC traded between $39.70 and $43.40. ATM implied volatility averaged 25.3%, placing in the 38.5% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 5.5% (HV 20d: 19.9%). Max pain ranged from $43.00 to $44.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 6 of 23 days. Put/call ratio averaged 0.20.

Notable Days

2022-03-01: Highest Volume — 113 contracts
2022-03-30: Largest IV spike — 49.3% change
2022-03-07: Highest IV Rank — 62.9%
2022-03-08: Largest Expected Move — 13.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$41.40	$39.70	$43.40	$40.49	$43.00
Max Pain	$43.25	$43.00	$44.00	$43.00	$44.00
ATM IV	25.3%	17.0%	35.3%	30.5%	25.0%
Expected Move	7.6%	3.9%	13.0%	8.7%	5.8%
HV 20d	19.9%	17.5%	21.7%	18.8%	17.5%
HV 60d	17.3%	16.3%	18.1%	16.6%	18.1%
IV Rank	38.5%	17.9%	62.9%	51.2%	37.6%
IV Percentile	75.5%	24.6%	97.2%	94.4%	80.2%
Term Structure	-2.0%	-9.7%	4.8%	-1.9%	-7.2%
VWIV	27.6%	16.3%	38.3%	24.7%	22.5%
Skew 25d	8.5%	-0.5%	22.9%	18.7%	6.0%
Skew 10d	12.6%	-0.4%	30.6%	11.8%	-0.4%
Call IV 25d	18.8%	9.0%	25.6%	16.2%	9.0%
Put IV 25d	27.2%	15.0%	41.3%	34.8%	15.0%
Bid-Ask Spread %	128.82	108.59	193.73	119.20	117.41
Gamma HHI	0.71	0.42	0.87	0.87	0.42
Net GEX	7.1K	466	18.1K	13.1K	2.7K
Net DEX	-20.0K	-59.5K	5.7K	-50.6K	-59.5K
Net VEX	-124	-280	-51	-280	-270
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.20	0.06	0.88	0.06	0.88
Total Volume	74.13	7	113	113	47
Total OI	71.783	7	112	112	27

Daily Data (23 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
2022-03-01	$40.49	$43.00	30.5%	8.7%	18.8%	51.2%	24.7%	18.7%	-1.9%	13.1K	-50.6K	-280	0.06	119.20	N/A	N/A	107	6	106	6
2022-03-02	$41.25	$43.00	30.6%	8.8%	19.9%	51.4%	23.7%	14.9%	-1.0%	14.9K	-51.0K	-265	0.06	131.25	N/A	N/A	107	6	106	6
2022-03-03	$40.98	$43.00	31.5%	9.0%	19.5%	53.7%	23.8%	11.3%	0.4%	15.9K	-56.3K	-273	0.06	130.63	N/A	N/A	107	6	106	6
2022-03-04	$40.78	$43.00	29.5%	8.4%	19.1%	48.6%	30.8%	10.9%	1.0%	11.4K	-24.1K	-181	0.06	127.25	N/A	N/A	107	6	106	6
2022-03-07	$40.15	$43.00	35.3%	10.1%	19.6%	62.9%	35.7%	22.9%	-1.7%	11.5K	-31.7K	-191	0.06	135.59	N/A	N/A	107	6	106	6
2022-03-08	$39.70	$43.00	29.4%	13.0%	19.8%	48.5%	36.6%	15.4%	-2.2%	10.0K	-31.4K	-182	0.06	132.88	N/A	N/A	107	6	106	6
2022-03-09	$40.50	$43.00	30.8%	12.6%	21.4%	51.8%	36.9%	18.8%	-0.3%	11.4K	-37.3K	-182	0.06	137.72	N/A	N/A	107	6	106	6
2022-03-10	$40.20	$43.00	22.5%	10.2%	20.7%	31.4%	38.3%	4.8%	3.4%	5.7K	19	-94	0.06	119.04	N/A	N/A	107	6	106	6
2022-03-11	$39.94	$43.00	26.3%	12.9%	20.4%	40.8%	28.0%	4.9%	-3.4%	7.8K	-10.7K	-118	0.06	116.08	N/A	N/A	107	6	106	6
2022-03-14	$39.73	$44.00	24.0%	6.5%	19.4%	35.2%	21.2%	9.9%	-6.2%	4.2K	5.7K	-66	0.06	120.44	N/A	N/A	107	6	106	6
2022-03-15	$40.56	$44.00	24.3%	5.7%	21.0%	35.9%	16.3%	10.2%	-3.4%	8.9K	-15.1K	-100	0.06	121.63	N/A	N/A	107	6	106	6
2022-03-16	$40.77	$44.00	25.0%	7.4%	20.7%	37.5%	21.0%	5.9%	-0.0%	6.2K	-100	-72	0.06	108.59	N/A	N/A	107	6	106	6
2022-03-17	$41.50	$0.00	28.8%	10.1%	21.7%	47.1%	0.0%	13.3%	4.8%	17.4K	-51.6K	-100	0.06	193.73	N/A	N/A	107	6	106	6
2022-03-18	$42.00	$0.00	22.8%	5.7%	21.5%	32.1%	0.0%	8.4%	-2.4%	18.1K	-24.9K	-59	0.06	124.22	N/A	N/A	107	6	106	6
2022-03-21	$41.95	$0.00	22.1%	6.6%	21.3%	30.4%	0.0%	3.8%	0.3%	466	-2.1K	-53	0.40	116.46	N/A	N/A	5	2	5	2
2022-03-22	$42.46	$0.00	19.4%	4.9%	21.4%	23.8%	0.0%	3.3%	-1.0%	561	-2.2K	-53	0.40	121.83	N/A	N/A	5	2	5	2
2022-03-23	$42.05	$0.00	21.9%	4.2%	20.4%	30.0%	0.0%	3.6%	-7.2%	598	-2.2K	-54	0.40	136.59	N/A	N/A	5	2	5	2
2022-03-24	$42.33	$0.00	20.3%	6.2%	20.4%	25.9%	0.0%	4.0%	2.4%	497	-1.3K	-51	0.40	119.81	N/A	N/A	5	2	5	2
2022-03-25	$42.53	$0.00	21.3%	4.5%	18.7%	28.5%	0.0%	-0.5%	-2.2%	565	-2.0K	-53	0.40	126.30	N/A	N/A	5	2	5	2
2022-03-28	$42.86	$0.00	19.3%	4.2%	18.1%	23.6%	0.0%	1.3%	-3.8%	697	-2.8K	-54	0.40	132.51	N/A	N/A	5	2	5	2
2022-03-29	$43.40	$0.00	17.0%	3.9%	18.2%	17.9%	0.0%	1.8%	-4.5%	684	-4.4K	-55	0.40	135.57	N/A	N/A	5	2	5	2
2022-03-30	$43.08	$0.00	25.4%	5.7%	17.7%	38.6%	0.0%	1.3%	-9.7%	628	-5.0K	-55	0.08	138.08	N/A	N/A	25	2	5	2
2022-03-31	$43.00	$0.00	25.0%	5.8%	17.5%	37.6%	22.5%	6.0%	-7.2%	2.7K	-59.5K	-270	0.88	117.41	N/A	N/A	25	22	25	2