HYG Options History — February 2025

In February 2025, HYG traded between $79.28 and $80.06. ATM implied volatility averaged 4.4%, placing in the 16.1% IV rank vs the trailing year. The 30-day expected move averaged 1.2%. IV traded above realized volatility by 0.5% (HV 20d: 4.0%). Max pain ranged from $79.00 to $80.00. Net GEX was positive for 1 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 4.86.

Notable Days

  • 2025-02-13: Highest Volume — 532,819 contracts
  • 2025-02-07: Largest IV spike — 40.0% change
  • 2025-02-07: Highest IV Rank — 27.2%
  • 2025-02-07: Largest Expected Move — 1.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$79.67$79.28$80.06$79.28$80.03
Max Pain$79.16$79.00$80.00$80.00$79.50
ATM IV4.4%3.6%5.9%4.6%4.6%
Expected Move1.2%0.9%1.5%1.2%1.2%
HV 20d4.0%3.5%4.7%4.6%3.6%
HV 60d5.1%5.0%5.2%5.2%5.0%
IV Rank16.1%10.1%27.2%17.1%17.1%
IV Percentile22.2%4.4%66.3%24.2%29.4%
Term Structure0.2%-1.3%3.2%-0.0%-0.5%
VWIV5.4%4.0%8.3%4.4%5.8%
Skew 25d2.0%-0.5%13.0%2.2%1.6%
Skew 10d4.3%-2.0%23.6%4.6%5.3%
Call IV 25d3.7%2.2%4.6%3.6%3.9%
Put IV 25d5.7%3.6%16.2%5.9%5.5%
Bid-Ask Spread %34.517.1085.2113.018.90
Gamma HHI0.210.190.290.190.20
Net GEX-706.6M-1.53B363.0M-1.39B-480.5M
Net DEX947.7M-474.5M2.57B2.57B545.2M
Net VEX-19.3M-23.1M-12.0M-23.1M-19.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.860.9213.011.793.67
Total Volume278,007.42191,406532,81991,406203,256
Total OI5,514,870.1584,959,9186,431,5715,170,1375,301,248

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-02-03$79.28$80.004.6%1.2%4.6%17.1%4.4%2.2%-0.0%-1.39B2.57B-23.1M1.7913.0132,72258,6841,071,1704,098,967
2025-02-04$79.47$79.504.4%1.4%4.6%15.9%5.6%0.1%-1.3%-805.1M1.59B-21.6M5.027.2335,010175,6291,097,9734,115,462
2025-02-05$79.72$79.504.5%1.3%4.7%16.6%4.6%0.7%-0.8%-380.1M434.4M-21.0M1.497.1046,69069,4161,090,6164,210,618
2025-02-06$79.59$79.004.2%1.2%4.6%14.2%5.4%-0.5%-0.2%-623.4M909.9M-22.0M10.0185.2121,220212,5101,115,0694,211,359
2025-02-07$79.38$79.005.9%1.5%4.7%27.2%5.0%13.0%3.2%-1.20B1.96B-21.6M1.9279.0148,20392,6221,121,5584,276,941
2025-02-10$79.53$79.004.7%1.1%4.3%18.0%5.9%1.3%-0.9%-826.2M1.39B-21.3M5.8723.0933,554196,8701,134,5504,258,801
2025-02-11$79.47$79.004.5%1.5%4.3%17.0%4.5%1.7%0.6%-1.21B1.74B-21.1M0.9210.2191,49483,7371,157,1094,318,884
2025-02-12$79.31$79.004.8%1.5%4.4%18.9%5.7%2.5%1.4%-1.53B2.08B-18.6M4.2967.7283,293357,6471,178,1164,356,700
2025-02-13$79.63$79.004.5%1.1%3.6%16.9%4.2%-0.0%0.1%-526.7M509.1M-17.4M1.4072.71222,190310,6291,183,3504,498,028
2025-02-14$79.75$79.003.7%1.1%3.6%10.7%5.8%2.4%1.0%-427.9M358.5M-18.4M3.7864.0361,545232,6531,200,8754,661,548
2025-02-18$79.65$79.004.5%1.3%3.6%16.8%6.9%2.2%-0.6%-614.9M1.07B-19.4M13.0176.7532,616424,3571,228,5034,775,067
2025-02-19$79.69$79.003.6%1.0%3.5%10.1%4.0%-0.3%1.4%-467.1M-203.5M-12.0M3.2681.7973,149238,7221,226,7504,902,424
2025-02-20$79.77$79.003.9%1.2%3.5%12.1%4.7%1.7%-0.3%363.0M1.45B-19.7M3.2411.9853,343172,5981,317,2045,035,205
2025-02-21$79.69$79.004.6%1.3%3.5%17.5%8.3%3.2%0.7%-837.3M1.45B-21.6M7.4812.5449,819372,4171,396,3615,035,210
2025-02-24$79.78$79.004.3%1.2%3.5%15.0%5.0%1.3%-1.0%-332.8M-68.5M-15.6M8.547.7413,434114,7301,145,9763,813,942
2025-02-25$79.94$79.004.0%0.9%3.5%12.9%5.5%1.5%-0.8%-606.6M269.7M-19.1M1.889.67103,983195,0671,157,5293,851,762
2025-02-26$80.06$79.004.3%1.2%3.5%14.7%5.4%1.4%0.2%-549.8M-474.5M-16.3M8.038.0353,088426,2801,133,2673,922,918
2025-02-27$79.91$79.504.5%1.2%3.6%16.5%5.9%1.7%1.1%-980.7M431.4M-17.4M6.778.8837,194251,7701,145,9604,035,513
2025-02-28$80.03$79.504.6%1.2%3.6%17.1%5.8%1.6%-0.5%-480.5M545.2M-19.6M3.678.9043,492159,7641,166,2414,135,007