DUG Options History — January 2025

In January 2025, DUG traded between $34.22 and $40.11. ATM implied volatility averaged 53.6%, placing in the 40.4% IV rank vs the trailing year. The 30-day expected move averaged 13.2%. IV traded above realized volatility by 19.7% (HV 20d: 33.9%). Max pain ranged from $32.00 to $36.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 0.52.

Notable Days

2025-01-21: Highest Volume — 23 contracts
2025-01-15: Largest IV drop — 58.6% change
2025-01-14: Highest IV Rank — 100.0%
2025-01-02: Largest Expected Move — 16.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$37.38	$34.22	$40.11	$40.11	$39.47
Max Pain	$35.14	$32.00	$36.00	$32.00	$36.00
ATM IV	53.6%	34.0%	110.7%	58.6%	48.5%
Expected Move	13.2%	9.7%	16.8%	16.8%	13.9%
HV 20d	33.9%	28.2%	39.5%	38.7%	37.0%
HV 60d	38.7%	37.8%	40.0%	39.1%	40.0%
IV Rank	40.4%	11.7%	100.0%	56.2%	28.4%
IV Percentile	81.7%	18.7%	100.0%	97.6%	84.9%
Term Structure	-3.8%	-19.7%	12.5%	-19.7%	3.6%
VWIV	40.2%	17.5%	57.4%	33.6%	53.0%
Skew 25d	1.9%	-15.7%	23.0%	6.1%	-6.8%
Skew 10d	4.0%	-15.3%	27.4%	2.0%	-2.8%
Call IV 25d	43.6%	28.2%	59.7%	51.7%	53.4%
Put IV 25d	45.5%	27.6%	73.5%	57.8%	46.6%
Bid-Ask Spread %	117.90	104.16	132.75	129.23	112.97
Gamma HHI	0.53	0.32	0.69	0.63	0.32
Net GEX	3.4K	1.8K	4.6K	3.1K	1.8K
Net DEX	-671.1K	-831.0K	-524.5K	-686.3K	-831.0K
Net VEX	-610	-1.1K	-203	-561	-367
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.00	2.00	0.00	0.80
Total Volume	5.15	0	23	0	9
Total OI	227.75	201	263	201	263

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
2025-01-02	$40.11	$32.00	58.6%	16.8%	38.7%	56.2%	0.0%	6.1%	-19.7%	3.1K	-686.3K	-561	0.00	129.23	N/A	N/A	0	0	185	16
2025-01-03	$39.49	$32.00	53.3%	15.3%	35.6%	47.7%	33.6%	-14.6%	-0.3%	2.0K	-697.0K	-203	0.00	132.75	N/A	N/A	1	0	185	16
2025-01-06	$40.07	$0.00	61.4%	11.3%	35.1%	60.7%	0.0%	-1.8%	-0.2%	2.7K	-703.3K	-331	0.00	119.43	N/A	N/A	0	0	185	16
2025-01-07	$39.19	$0.00	55.5%	12.1%	34.0%	51.1%	0.0%	-1.6%	-7.3%	3.4K	-673.1K	-463	0.00	115.26	N/A	N/A	0	0	185	16
2025-01-08	$39.26	$0.00	55.5%	12.0%	34.0%	51.2%	0.0%	0.6%	0.5%	3.0K	-684.4K	-346	0.00	124.93	N/A	N/A	0	0	185	16
2025-01-10	$39.02	$0.00	59.2%	12.4%	33.8%	57.2%	0.0%	-6.7%	-2.1%	3.4K	-662.0K	-559	0.00	117.82	N/A	N/A	10	0	185	16
2025-01-13	$37.18	$0.00	83.6%	14.0%	38.1%	96.7%	0.0%	-15.7%	-7.9%	4.3K	-615.8K	-665	0.00	113.20	N/A	N/A	0	1	195	16
2025-01-14	$36.61	$0.00	110.7%	16.2%	38.0%	100.0%	57.4%	6.1%	-14.3%	4.3K	-611.4K	-588	0.50	110.89	N/A	N/A	10	5	195	17
2025-01-15	$35.22	$35.00	45.9%	13.1%	39.5%	25.4%	41.1%	-2.6%	0.4%	4.2K	-589.7K	-757	0.00	123.74	N/A	N/A	3	0	205	22
2025-01-16	$34.84	$35.00	45.8%	13.1%	35.1%	25.3%	0.0%	4.2%	-7.9%	4.4K	-595.6K	-589	0.00	128.60	N/A	N/A	0	0	208	22
2025-01-17	$34.22	$35.00	42.8%	12.3%	34.0%	21.8%	35.7%	11.0%	-4.5%	4.6K	-524.5K	-1.1K	0.00	116.71	N/A	N/A	1	0	208	22
2025-01-21	$34.95	$35.00	38.5%	11.0%	28.2%	16.9%	17.5%	13.3%	2.4%	3.9K	-629.8K	-335	0.92	122.33	N/A	N/A	12	11	198	16
2025-01-22	$35.66	$36.00	49.1%	14.1%	29.0%	29.2%	43.4%	-12.7%	-8.5%	3.7K	-628.9K	-791	0.50	118.25	N/A	N/A	2	1	210	27
2025-01-23	$35.74	$36.00	34.0%	9.7%	29.4%	11.7%	40.3%	7.4%	-1.5%	3.4K	-631.7K	-829	0.00	106.35	N/A	N/A	23	0	212	28
2025-01-24	$36.39	$36.00	38.7%	11.1%	30.5%	17.1%	37.9%	10.0%	1.7%	3.4K	-707.9K	-614	2.00	106.92	N/A	N/A	1	2	222	28
2025-01-27	$37.09	$36.00	55.5%	15.9%	31.8%	36.5%	40.7%	6.0%	-15.8%	3.3K	-728.8K	-665	2.00	104.16	N/A	N/A	1	2	223	30
2025-01-28	$37.59	$36.00	44.2%	12.7%	32.3%	23.5%	0.0%	-0.2%	-6.3%	2.8K	-741.4K	-713	0.00	104.17	N/A	N/A	7	0	224	32
2025-01-29	$37.80	$36.00	46.7%	13.4%	32.4%	26.4%	0.0%	23.0%	-1.5%	3.2K	-751.4K	-779	0.00	127.08	N/A	N/A	0	0	231	32
2025-01-30	$37.62	$36.00	45.3%	13.0%	32.4%	24.8%	41.8%	12.9%	12.5%	2.9K	-727.2K	-934	0.00	123.23	N/A	N/A	1	0	231	32
2025-01-31	$39.47	$36.00	48.5%	13.9%	37.0%	28.4%	53.0%	-6.8%	3.6%	1.8K	-831.0K	-367	0.80	112.97	N/A	N/A	5	4	231	32