HYD Options History — March 2025

In March 2025, HYD traded between $50.80 and $52.27. ATM implied volatility averaged 10.5%, placing in the 51.8% IV rank vs the trailing year. The 30-day expected move averaged 3.0%. IV traded above realized volatility by 5.6% (HV 20d: 4.9%). Max pain ranged from $47.00 to $54.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 9.19.

Notable Days

2025-03-24: Highest Volume — 906 contracts
2025-03-21: Largest IV spike — 23.5% change
2025-03-21: Highest IV Rank — 63.9%
2025-03-21: Largest Expected Move — 3.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$51.63	$50.80	$52.27	$52.27	$51.14
Max Pain	$51.32	$47.00	$54.00	$53.00	$52.00
ATM IV	10.5%	8.6%	12.0%	10.7%	11.2%
Expected Move	3.0%	2.5%	3.7%	3.1%	3.0%
HV 20d	4.9%	4.0%	5.6%	5.0%	5.4%
HV 60d	5.2%	4.6%	5.6%	5.4%	4.9%
IV Rank	51.8%	37.1%	63.9%	53.3%	57.6%
IV Percentile	92.2%	80.6%	98.0%	96.4%	94.8%
Term Structure	0.2%	-0.8%	3.3%	-0.5%	-0.7%
VWIV	10.5%	6.9%	13.0%	10.9%	13.0%
Skew 25d	3.1%	0.5%	6.9%	3.0%	1.6%
Skew 10d	7.5%	0.9%	15.0%	9.1%	7.1%
Call IV 25d	9.9%	6.4%	11.7%	9.4%	11.1%
Put IV 25d	13.0%	10.0%	16.3%	12.3%	12.7%
Bid-Ask Spread %	33.68	17.34	56.06	35.35	22.77
Gamma HHI	0.26	0.20	0.34	0.22	0.29
Net GEX	-502.1K	-723.1K	-62.9K	-419.4K	-494.8K
Net DEX	4.8M	2.4M	6.8M	2.4M	6.7M
Net VEX	-12.3K	-18.0K	-9.8K	-12.6K	-14.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	9.19	0.00	92.25	0.80	3.46
Total Volume	179.381	0	906	9	312
Total OI	2,939.286	2,268	3,333	2,596	3,333

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
2025-03-03	$52.27	$53.00	10.7%	3.1%	5.0%	53.3%	10.9%	3.0%	-0.5%	-419.4K	2.4M	-12.6K	0.80	35.35	5	4	863	1,733
2025-03-04	$51.99	$53.00	8.9%	2.5%	5.4%	39.6%	8.9%	1.1%	0.1%	-471.3K	3.2M	-11.7K	0.24	33.77	17	4	865	1,733
2025-03-05	$51.88	$53.00	8.6%	2.5%	5.5%	37.1%	11.1%	4.8%	0.3%	-466.4K	3.5M	-11.1K	0.00	22.51	0	1	877	1,732
2025-03-06	$51.82	$53.00	9.7%	2.8%	5.2%	45.6%	7.0%	2.7%	0.3%	-460.8K	3.5M	-11.5K	0.00	56.06	0	116	877	1,743
2025-03-07	$51.78	$53.00	9.4%	2.7%	5.2%	43.2%	9.3%	2.1%	0.2%	-475.3K	3.8M	-11.0K	0.00	17.34	0	5	877	1,750
2025-03-10	$51.91	$53.00	10.4%	3.0%	5.2%	50.9%	6.9%	2.4%	0.3%	-471.0K	3.4M	-10.6K	92.25	29.40	8	738	877	1,755
2025-03-11	$51.59	$52.00	10.5%	3.0%	5.6%	51.7%	11.2%	2.7%	-0.1%	-565.1K	4.9M	-11.4K	0.75	23.54	16	12	885	1,944
2025-03-12	$51.55	$52.00	10.6%	3.0%	5.6%	52.7%	11.2%	2.1%	-0.1%	-595.7K	5.3M	-10.7K	0.00	26.41	0	69	891	1,956
2025-03-13	$51.76	$52.00	10.4%	2.9%	5.1%	51.5%	10.8%	3.5%	-0.1%	-664.7K	4.9M	-11.1K	30.00	28.17	2	60	912	2,043
2025-03-14	$51.70	$52.00	11.3%	2.7%	4.6%	57.9%	12.7%	4.5%	-0.8%	-679.6K	5.1M	-11.1K	0.00	35.94	15	0	913	2,102
2025-03-17	$51.74	$54.00	10.2%	2.9%	4.6%	49.5%	10.3%	2.7%	0.1%	-690.0K	4.9M	-10.3K	0.85	32.72	81	69	920	2,102
2025-03-18	$51.74	$54.00	9.0%	3.0%	4.5%	40.7%	0.0%	3.4%	3.3%	-719.1K	5.1M	-10.5K	0.00	44.02	0	0	996	2,171
2025-03-19	$51.75	$54.00	9.9%	2.9%	4.4%	47.0%	0.0%	2.6%	0.6%	-723.1K	5.1M	-9.8K	0.00	47.82	0	709	996	2,171
2025-03-20	$51.80	$0.00	9.8%	2.9%	4.4%	46.3%	0.0%	2.3%	0.5%	-62.9K	5.0M	-11.1K	0.67	41.63	6	4	996	2,225
2025-03-21	$51.67	$0.00	12.0%	3.7%	4.2%	63.9%	13.0%	3.8%	1.1%	-251.3K	5.4M	-11.0K	1.41	29.39	182	257	999	2,228
2025-03-24	$51.63	$47.00	11.5%	3.2%	4.2%	59.3%	11.7%	4.5%	-0.7%	-506.2K	4.3M	-12.4K	0.98	28.71	457	449	576	1,692
2025-03-25	$51.52	$47.00	10.6%	3.2%	4.0%	52.6%	10.5%	0.5%	0.9%	-460.9K	5.2M	-18.0K	3.20	32.23	15	48	1,028	2,146
2025-03-26	$51.09	$47.00	11.9%	3.7%	4.7%	63.1%	11.3%	6.9%	0.2%	-460.4K	6.1M	-16.7K	1.00	41.96	8	8	1,041	2,198
2025-03-27	$50.80	$47.00	11.8%	3.3%	4.9%	61.6%	7.7%	3.0%	-0.2%	-471.9K	6.8M	-15.1K	0.31	50.70	64	20	1,049	2,206
2025-03-28	$51.06	$47.00	11.8%	3.4%	5.4%	61.8%	11.3%	4.2%	0.1%	-434.5K	6.5M	-15.8K	2.00	26.75	2	4	1,097	2,227
2025-03-31	$51.14	$52.00	11.2%	3.0%	5.4%	57.6%	13.0%	1.6%	-0.7%	-494.8K	6.7M	-14.3K	3.46	22.77	70	242	1,099	2,234