DUG Options History — March 2025

In March 2025, DUG traded between $33.59 and $40.93. ATM implied volatility averaged 53.9%, placing in the 34.6% IV rank vs the trailing year. The 30-day expected move averaged 15.2%. IV traded above realized volatility by 5.6% (HV 20d: 48.2%). Max pain ranged from $25.00 to $38.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 0.74.

Notable Days

2025-03-14: Highest Volume — 42 contracts
2025-03-11: Largest IV drop — 26.4% change
2025-03-10: Highest IV Rank — 54.5%
2025-03-11: Largest Expected Move — 23.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$37.00	$33.59	$40.93	$39.66	$33.70
Max Pain	$30.28	$25.00	$38.00	$28.00	$38.00
ATM IV	53.9%	37.3%	71.1%	67.2%	52.9%
Expected Move	15.2%	10.9%	23.0%	19.3%	14.4%
HV 20d	48.2%	40.0%	51.4%	49.4%	40.0%
HV 60d	41.4%	40.5%	42.6%	41.4%	42.1%
IV Rank	34.6%	15.5%	54.5%	50.0%	33.5%
IV Percentile	82.8%	35.7%	98.4%	98.4%	84.1%
Term Structure	-8.8%	-18.9%	6.8%	-10.6%	-10.1%
VWIV	58.8%	45.1%	80.0%	45.1%	45.4%
Skew 25d	-2.2%	-15.9%	19.3%	-15.0%	-4.4%
Skew 10d	-5.1%	-54.3%	26.7%	-15.2%	-54.3%
Call IV 25d	54.4%	38.4%	73.2%	73.2%	52.4%
Put IV 25d	52.1%	38.4%	66.4%	58.2%	48.0%
Bid-Ask Spread %	100.85	73.92	136.72	110.59	79.23
Gamma HHI	0.29	0.14	0.74	0.30	0.30
Net GEX	5.6K	-2.2K	17.7K	7.5K	3.5K
Net DEX	-798.3K	-1.0M	-511.2K	-898.0K	-534.1K
Net VEX	-585	-1.0K	-327	-853	-1.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.74	0.00	3.50	0.00	0.50
Total Volume	6.143	0	42	4	0
Total OI	407.619	289	487	426	301

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
2025-03-03	$39.66	$28.00	67.2%	19.3%	49.4%	50.0%	45.1%	-15.0%	-10.6%	7.5K	-898.0K	-853	0.00	110.59	N/A	N/A	4	0	274	152
2025-03-04	$39.51	$28.00	54.9%	15.7%	49.3%	35.7%	0.0%	-15.9%	0.1%	3.1K	-963.0K	-399	0.00	110.41	N/A	N/A	1	0	278	152
2025-03-05	$40.93	$28.00	58.5%	16.8%	48.0%	39.9%	57.5%	4.7%	-16.6%	3.1K	-1.0M	-346	0.00	98.46	N/A	N/A	8	0	279	152
2025-03-06	$40.92	$28.00	58.9%	16.9%	47.9%	40.3%	60.7%	-10.8%	-6.4%	4.2K	-1.0M	-372	0.00	92.87	N/A	N/A	5	0	287	152
2025-03-07	$39.42	$28.00	68.0%	19.5%	48.6%	50.8%	0.0%	-6.3%	-5.9%	4.2K	-982.2K	-349	0.00	103.10	N/A	N/A	1	0	286	152
2025-03-10	$39.05	$28.00	71.1%	20.4%	48.7%	54.5%	80.0%	19.3%	-13.0%	2.8K	-938.9K	-428	0.00	107.48	N/A	N/A	1	0	286	152
2025-03-11	$39.50	$28.00	52.3%	23.0%	45.7%	32.8%	0.0%	-8.4%	-12.6%	4.7K	-960.9K	-428	0.00	109.37	N/A	N/A	0	0	286	152
2025-03-12	$38.88	$28.00	50.2%	18.8%	45.8%	30.4%	0.0%	-2.5%	-9.1%	4.5K	-965.8K	-327	0.00	112.11	N/A	N/A	0	0	286	152
2025-03-13	$39.93	$28.00	56.1%	19.1%	43.7%	37.2%	64.3%	-4.5%	-8.6%	4.6K	-995.9K	-350	0.00	114.91	N/A	N/A	16	0	286	152
2025-03-14	$37.68	$28.00	53.3%	16.8%	48.3%	33.9%	0.0%	12.8%	-4.0%	6.7K	-925.1K	-356	3.20	107.77	N/A	N/A	10	32	300	152
2025-03-17	$36.13	$25.00	57.0%	11.6%	50.5%	38.2%	0.0%	1.3%	-15.4%	7.9K	-795.9K	-515	3.50	93.05	N/A	N/A	2	7	290	184
2025-03-18	$36.24	$25.00	52.9%	11.2%	49.2%	33.5%	0.0%	-3.2%	-17.0%	6.3K	-787.0K	-542	0.00	95.06	N/A	N/A	1	0	291	191
2025-03-19	$34.72	$25.00	49.1%	11.0%	51.4%	29.1%	0.0%	7.9%	-9.1%	12.4K	-645.2K	-1.0K	0.00	111.73	N/A	N/A	1	0	292	191
2025-03-20	$34.64	$0.00	58.5%	12.1%	51.0%	40.0%	0.0%	-15.9%	-18.9%	17.4K	-699.2K	-504	0.00	136.72	N/A	N/A	0	0	293	192
2025-03-21	$35.31	$0.00	50.2%	12.7%	49.5%	30.4%	0.0%	-1.1%	-4.4%	17.7K	-741.4K	-486	0.00	101.39	N/A	N/A	0	0	293	194
2025-03-24	$34.39	$0.00	43.9%	10.9%	50.3%	23.2%	45.4%	-9.0%	-8.4%	2.2K	-616.0K	-652	2.00	89.62	N/A	N/A	2	4	240	54
2025-03-25	$34.11	$38.00	37.3%	13.4%	48.9%	15.5%	0.0%	7.3%	6.8%	-2.2K	-612.2K	-477	1.00	104.05	N/A	N/A	1	1	241	58
2025-03-26	$33.59	$38.00	42.4%	11.8%	48.6%	21.5%	0.0%	6.3%	-0.8%	1.5K	-511.2K	-947	0.86	81.26	N/A	N/A	14	12	230	59
2025-03-27	$34.11	$38.00	43.7%	12.0%	49.1%	22.9%	0.0%	-5.9%	-2.9%	2.3K	-555.7K	-916	0.50	73.92	N/A	N/A	4	2	238	59
2025-03-28	$34.63	$38.00	53.0%	12.8%	49.2%	33.6%	0.0%	-3.6%	-16.9%	2.5K	-565.2K	-988	0.00	84.76	N/A	N/A	0	0	240	61
2025-03-31	$33.70	$38.00	52.9%	14.4%	40.0%	33.5%	0.0%	-4.4%	-10.1%	3.5K	-534.1K	-1.0K	0.00	79.23	N/A	N/A	0	0	240	61