EWP Options History — February 2025

In February 2025, EWP traded between $32.41 and $36.34. ATM implied volatility averaged 15.7%, placing in the 15.8% IV rank vs the trailing year. The 30-day expected move averaged 4.4%. IV traded below realized volatility by 2.2% (HV 20d: 17.8%). Max pain ranged from $32.00 to $34.00. Net GEX was positive for 6 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.99.

Notable Days

2025-02-04: Highest Volume — 180 contracts
2025-02-21: Largest IV spike — 50.3% change
2025-02-11: Highest IV Rank — 29.1%
2025-02-04: Largest Expected Move — 5.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$34.82	$32.41	$36.34	$32.41	$36.01
Max Pain	$33.68	$32.00	$34.00	$32.00	$34.00
ATM IV	15.7%	11.8%	21.3%	19.4%	13.8%
Expected Move	4.4%	3.4%	5.7%	5.6%	4.0%
HV 20d	17.8%	14.9%	20.5%	14.9%	20.4%
HV 60d	18.5%	17.7%	20.6%	20.1%	18.8%
IV Rank	15.8%	6.8%	29.1%	24.5%	11.4%
IV Percentile	50.5%	8.3%	88.9%	85.7%	35.3%
Term Structure	14.8%	-6.6%	41.0%	-6.6%	-3.5%
VWIV	19.4%	13.4%	22.6%	22.6%	13.4%
Skew 25d	3.1%	-12.2%	20.5%	-1.5%	7.4%
Skew 10d	-3.6%	-24.2%	15.7%	-3.7%	-7.0%
Call IV 25d	15.7%	11.0%	27.1%	20.4%	14.6%
Put IV 25d	18.8%	13.0%	31.5%	18.9%	22.0%
Bid-Ask Spread %	118.52	99.76	130.05	126.07	121.07
Gamma HHI	0.29	0.19	0.42	0.36	0.35
Net GEX	-14.5K	-36.7K	16.4K	-27.2K	9.4K
Net DEX	-81.0K	-852.3K	370.2K	302.8K	-627.0K
Net VEX	-2.8K	-3.5K	-1.6K	-2.1K	-2.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.99	0.00	8.00	0.03	0.00
Total Volume	22.526	0	180	0	1
Total OI	748.632	435	977	435	977

Daily Data (19 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
2025-02-03	$32.41	$32.00	19.4%	5.6%	14.9%	24.5%	0.0%	-1.5%	-6.6%	-27.2K	302.8K	-2.1K	0.00	126.07	N/A	N/A	0	0	63	372
2025-02-04	$33.14	$32.00	19.9%	5.7%	16.5%	25.7%	0.0%	2.2%	-1.7%	-36.7K	128.4K	-1.6K	0.00	122.33	N/A	N/A	0	180	63	372
2025-02-05	$33.91	$32.00	12.7%	3.7%	17.5%	8.9%	22.6%	3.1%	-1.8%	-33.3K	370.2K	-3.0K	0.03	128.53	N/A	N/A	31	1	63	552
2025-02-06	$34.08	$34.00	19.0%	4.7%	17.3%	23.6%	0.0%	1.7%	35.7%	-24.7K	341.4K	-3.3K	0.00	126.22	N/A	N/A	0	0	94	553
2025-02-07	$33.78	$34.00	14.9%	4.1%	17.8%	14.0%	0.0%	2.3%	26.9%	-28.0K	298.9K	-3.1K	0.00	127.81	N/A	N/A	14	0	94	553
2025-02-10	$33.92	$34.00	14.3%	4.9%	16.8%	12.6%	0.0%	1.7%	39.5%	-35.2K	307.6K	-3.0K	0.00	130.05	N/A	N/A	12	0	98	553
2025-02-11	$34.33	$34.00	21.3%	4.4%	16.8%	29.1%	18.5%	-0.3%	30.1%	-33.4K	245.1K	-2.9K	1.50	122.95	N/A	N/A	30	45	104	553
2025-02-12	$34.91	$34.00	12.6%	3.6%	17.1%	8.6%	0.0%	1.3%	12.2%	-28.5K	58.5K	-2.5K	0.00	126.96	N/A	N/A	1	0	103	598
2025-02-13	$34.89	$34.00	14.4%	4.1%	17.1%	12.8%	0.0%	14.9%	25.6%	-23.0K	233.5K	-3.2K	0.00	120.41	N/A	N/A	0	0	104	598
2025-02-14	$35.20	$34.00	16.7%	4.8%	16.8%	18.2%	0.0%	17.1%	22.1%	-26.5K	237.7K	-3.2K	0.00	123.22	N/A	N/A	0	0	110	598
2025-02-18	$35.50	$34.00	14.3%	4.1%	16.9%	12.6%	21.1%	-10.1%	5.3%	-22.6K	72.0K	-2.7K	0.00	109.60	N/A	N/A	9	0	110	598
2025-02-19	$34.94	$34.00	14.1%	4.1%	18.2%	12.2%	0.0%	20.5%	30.3%	-22.6K	159.3K	-3.0K	0.00	115.51	N/A	N/A	0	0	113	598
2025-02-20	$35.53	$34.00	12.9%	3.7%	18.1%	9.3%	19.6%	-12.2%	41.0%	11.2K	-426.7K	-3.5K	0.50	118.31	N/A	N/A	2	1	313	598
2025-02-21	$35.16	$34.00	19.4%	5.6%	18.6%	24.5%	19.4%	8.7%	23.3%	16.4K	-479.0K	-3.1K	0.09	103.73	N/A	N/A	22	2	315	599
2025-02-24	$35.52	$34.00	11.8%	3.4%	18.7%	6.8%	22.3%	5.3%	1.3%	16.2K	-612.8K	-2.8K	0.50	107.51	N/A	N/A	12	6	322	598
2025-02-25	$36.20	$34.00	15.0%	4.3%	19.3%	14.2%	0.0%	0.5%	-0.4%	11.7K	-852.3K	-2.3K	8.00	112.37	N/A	N/A	4	32	334	602
2025-02-26	$36.34	$34.00	15.9%	4.6%	19.3%	16.3%	18.0%	3.5%	3.4%	3.1K	-776.7K	-2.3K	1.30	99.76	N/A	N/A	10	13	338	634
2025-02-27	$35.83	$34.00	15.2%	4.4%	20.5%	14.8%	0.0%	-6.5%	-0.8%	-696	-520.1K	-3.3K	0.00	109.44	N/A	N/A	0	0	342	635
2025-02-28	$36.01	$34.00	13.8%	4.0%	20.4%	11.4%	13.4%	7.4%	-3.5%	9.4K	-627.0K	-2.9K	0.00	121.07	N/A	N/A	1	0	342	635