GOVT Options History — August 2025

In August 2025, GOVT traded between $22.84 and $22.99. ATM implied volatility averaged 4.9%, placing in the 2.1% IV rank vs the trailing year. The 30-day expected move averaged 1.5%. IV traded above realized volatility by 0.9% (HV 20d: 4.0%). Max pain ranged from $23.00 to $23.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.65.

Notable Days

2025-08-28: Highest Volume — 256 contracts
2025-08-11: Largest IV spike — 39.2% change
2025-08-18: Highest IV Rank — 4.3%
2025-08-18: Largest Expected Move — 1.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.92	$22.84	$22.99	$22.95	$22.99
Max Pain	$23.00	$23.00	$23.00	$23.00	$23.00
ATM IV	4.9%	3.5%	6.4%	6.1%	5.1%
Expected Move	1.5%	1.3%	1.8%	1.7%	1.5%
HV 20d	4.0%	2.9%	4.5%	4.5%	2.9%
HV 60d	4.4%	4.0%	4.7%	4.7%	4.0%
IV Rank	2.1%	0.0%	4.3%	3.8%	2.3%
IV Percentile	13.4%	0.4%	36.9%	26.2%	17.1%
Term Structure	1.5%	-0.7%	28.5%	-0.0%	0.2%
VWIV	5.2%	4.5%	6.2%	5.9%	5.1%
Skew 25d	3.0%	-0.1%	9.3%	0.5%	8.8%
Skew 10d	4.0%	-0.6%	13.4%	0.4%	13.4%
Call IV 25d	5.6%	5.1%	7.5%	7.5%	6.3%
Put IV 25d	8.6%	5.2%	15.1%	8.0%	15.1%
Bid-Ask Spread %	104.78	75.33	130.06	116.98	114.05
Gamma HHI	0.64	0.36	0.95	0.52	0.95
Net GEX	22.6K	2.9K	133.3K	5.7K	133.3K
Net DEX	-138.2K	-353.7K	-40.3K	-165.0K	-353.7K
Net VEX	-1.5K	-1.7K	-1.3K	-1.7K	-1.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.65	0.00	15.00	0.00	0.23
Total Volume	22.238	0	256	5	27
Total OI	802.286	751	966	751	966

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 Vol	Put Vol	Call OI	Put OI
2025-08-01	$22.95	$23.00	6.1%	1.7%	4.5%	3.8%	5.9%	0.5%	-0.0%	5.7K	-165.0K	-1.7K	0.00	116.98	5	0	377	374
2025-08-04	$22.96	$23.00	6.1%	1.6%	4.5%	3.8%	5.7%	0.3%	0.4%	6.3K	-177.6K	-1.7K	0.56	111.51	36	20	379	374
2025-08-05	$22.96	$23.00	4.7%	1.6%	4.4%	1.8%	6.2%	0.3%	0.2%	23.8K	-194.2K	-1.7K	0.00	90.84	2	0	407	393
2025-08-06	$22.95	$23.00	4.7%	1.6%	4.3%	1.8%	5.4%	0.1%	0.5%	24.6K	-176.9K	-1.7K	1.00	107.25	2	2	406	393
2025-08-07	$22.94	$23.00	3.6%	1.6%	4.3%	0.1%	0.0%	0.1%	0.3%	33.6K	-167.9K	-1.7K	0.00	113.97	0	0	406	391
2025-08-08	$22.88	$23.00	3.5%	1.4%	4.1%	0.0%	0.0%	-0.1%	0.7%	22.4K	-90.9K	-1.6K	0.00	110.13	0	1	406	391
2025-08-11	$22.91	$23.00	4.9%	1.4%	4.1%	2.1%	0.0%	0.0%	0.8%	28.5K	-118.7K	-1.5K	0.00	107.45	0	0	406	390
2025-08-12	$22.88	$23.00	5.3%	1.4%	4.0%	2.7%	0.0%	-0.1%	0.6%	22.9K	-71.8K	-1.5K	0.25	104.41	4	1	406	390
2025-08-13	$22.95	$23.00	4.7%	1.3%	4.0%	1.7%	0.0%	0.1%	-0.5%	39.8K	-150.9K	-1.5K	0.00	120.53	15	0	410	391
2025-08-14	$22.88	$23.00	4.5%	1.3%	4.2%	1.5%	0.0%	0.1%	0.6%	20.8K	-106.8K	-1.5K	0.71	92.33	14	10	423	391
2025-08-15	$22.84	$23.00	4.8%	1.4%	4.2%	2.0%	4.8%	0.0%	-0.1%	8.7K	-40.3K	-1.4K	15.00	91.86	1	15	417	391
2025-08-18	$22.84	$23.00	6.4%	1.8%	4.0%	4.3%	4.9%	1.1%	-0.1%	2.9K	-58.1K	-1.4K	0.00	75.33	4	0	394	375
2025-08-19	$22.88	$23.00	4.8%	1.4%	4.0%	1.9%	4.8%	0.1%	0.2%	3.6K	-80.7K	-1.3K	0.09	78.82	22	2	398	375
2025-08-20	$22.91	$23.00	4.5%	1.3%	4.0%	1.5%	4.5%	8.5%	0.5%	15.4K	-115.3K	-1.4K	7.00	97.18	1	7	418	377
2025-08-21	$22.86	$23.00	5.3%	1.5%	4.0%	2.7%	5.3%	8.8%	-0.3%	14.3K	-74.4K	-1.4K	0.25	96.70	4	1	418	384
2025-08-22	$22.95	$23.00	4.9%	1.4%	4.1%	2.0%	0.0%	8.0%	0.3%	13.9K	-154.0K	-1.4K	0.00	97.22	0	8	418	383
2025-08-25	$22.91	$23.00	4.9%	1.4%	4.1%	2.1%	0.0%	9.3%	-0.3%	12.8K	-105.2K	-1.3K	2.00	112.34	1	2	418	388
2025-08-26	$22.95	$23.00	4.5%	1.3%	3.7%	1.6%	4.6%	9.3%	28.5%	12.8K	-129.3K	-1.3K	0.00	117.99	2	0	419	388
2025-08-27	$22.96	$23.00	4.9%	1.4%	3.5%	2.0%	4.9%	0.2%	-0.1%	11.7K	-174.8K	-1.3K	1.00	113.36	1	1	420	388
2025-08-28	$22.99	$23.00	5.1%	1.5%	3.6%	2.4%	5.9%	7.6%	-0.7%	16.3K	-195.0K	-1.3K	0.00	130.06	256	0	421	388
2025-08-29	$22.99	$23.00	5.1%	1.5%	2.9%	2.3%	5.1%	8.8%	0.2%	133.3K	-353.7K	-1.6K	0.23	114.05	22	5	578	388