HYG Options History — April 2025

In April 2025, HYG traded between $75.47 and $78.95. ATM implied volatility averaged 10.5%, placing in the 55.6% IV rank vs the trailing year. The 30-day expected move averaged 2.9%. IV traded below realized volatility by 2.2% (HV 20d: 12.7%). Max pain ranged from $78.00 to $79.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 7.87.

Notable Days

  • 2025-04-04: Highest Volume — 2,001,361 contracts
  • 2025-04-03: Largest IV spike — 39.8% change
  • 2025-04-08: Highest IV Rank — 100.0%
  • 2025-04-08: Largest Expected Move — 5.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$77.67$75.47$78.95$78.66$78.63
Max Pain$78.55$78.00$79.00$79.00$78.50
ATM IV10.5%6.7%17.7%7.3%8.3%
Expected Move2.9%1.8%5.1%1.8%2.3%
HV 20d12.7%4.7%15.8%4.7%15.8%
HV 60d8.1%4.3%9.6%4.3%9.6%
IV Rank55.6%30.5%100.0%38.1%38.8%
IV Percentile94.0%84.5%100.0%89.3%90.5%
Term Structure-0.3%-6.3%1.1%1.1%-0.0%
VWIV12.5%7.8%17.6%8.4%9.7%
Skew 25d5.2%2.7%9.2%3.2%3.3%
Skew 10d10.4%4.7%20.4%6.1%6.2%
Call IV 25d8.6%5.9%13.3%5.9%7.1%
Put IV 25d13.8%8.9%22.5%9.1%10.4%
Bid-Ask Spread %5.713.949.365.293.94
Gamma HHI0.130.110.190.170.13
Net GEX-2.68B-3.93B-1.10B-3.07B-1.65B
Net DEX10.50B352.5M23.40B8.18B2.22B
Net VEX-43.1M-58.9M-21.2M-43.2M-25.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.871.7521.849.393.35
Total Volume802,956.048228,2332,001,361525,131470,480
Total OI8,071,052.0486,854,3929,159,3827,764,5117,672,357

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-04-01$78.66$79.007.3%1.8%4.7%38.1%8.4%3.2%1.1%-3.07B8.18B-43.2M9.395.2950,542474,5891,378,1016,386,410
2025-04-02$78.82$79.006.7%1.8%4.7%34.1%7.8%3.2%-0.4%-2.71B6.50B-42.7M3.044.8356,490171,7431,420,6486,566,111
2025-04-03$77.91$79.009.4%2.5%6.1%54.8%12.3%5.1%0.1%-3.93B13.56B-52.6M18.376.3480,4691,478,2111,412,7356,629,999
2025-04-04$77.02$79.0012.8%3.4%7.1%81.1%13.9%7.2%0.5%-3.68B19.23B-58.9M21.847.8587,6331,913,7281,462,6016,972,925
2025-04-07$76.00$79.0015.2%4.2%8.2%99.2%17.6%7.1%-0.2%-3.31B22.54B-56.3M9.847.36130,8641,287,4121,417,4046,735,114
2025-04-08$75.47$79.0017.7%5.1%8.4%100.0%17.5%9.2%0.5%-2.92B23.40B-57.2M7.486.40121,884911,6691,491,1846,702,052
2025-04-09$77.64$79.0011.2%2.8%13.7%57.6%14.4%5.7%-1.4%-3.23B12.03B-50.3M9.928.82146,5741,454,0631,573,4877,026,082
2025-04-10$76.32$79.0015.4%4.6%14.8%85.4%17.2%7.7%0.6%-3.21B19.73B-58.7M6.678.57223,0261,486,7411,608,7117,138,195
2025-04-11$76.77$78.0013.3%3.8%15.0%71.0%16.1%6.7%-0.3%-3.29B17.34B-57.7M4.179.36135,174564,0021,637,6497,521,733
2025-04-14$77.25$78.0012.0%3.4%15.1%62.8%15.3%5.9%-6.3%-3.57B13.97B-51.1M20.254.7321,991445,3131,574,8867,419,964
2025-04-15$77.27$78.0010.7%3.1%15.1%54.3%12.6%5.6%-0.8%-3.72B13.37B-46.2M5.114.06120,980617,8581,586,0287,446,798
2025-04-16$77.31$78.0011.6%3.3%14.9%60.6%14.0%6.3%-1.0%-3.44B12.88B-48.1M5.885.51159,582937,6191,646,7867,472,631
2025-04-17$77.75$79.009.2%2.6%15.1%44.8%12.4%4.8%1.1%-3.01B8.81B-40.1M3.964.8978,012308,6721,711,1887,295,738
2025-04-21$77.30$79.0010.9%3.2%15.2%56.0%14.3%5.6%-0.3%-2.26B9.03B-42.0M8.794.4243,832385,2731,198,6945,655,698
2025-04-22$77.65$78.009.9%2.9%15.3%49.3%12.4%4.7%-0.1%-2.25B7.08B-36.8M8.704.0934,505300,1411,227,5945,790,828
2025-04-23$78.03$78.009.3%2.7%15.4%45.4%12.0%4.6%-0.1%-1.94B5.20B-34.5M6.524.5863,465414,0431,242,3205,822,855
2025-04-24$78.68$78.008.3%2.4%15.7%38.7%10.2%3.6%-0.0%-1.46B2.21B-30.6M3.604.1976,425275,4631,252,1275,984,623
2025-04-25$78.80$78.007.4%2.1%15.7%32.7%8.4%2.8%0.0%-1.12B1.23B-25.8M2.245.28126,690284,2811,298,7316,087,634
2025-04-28$78.78$78.507.3%2.0%15.7%32.2%9.1%3.4%0.1%-1.39B1.64B-24.6M4.385.0096,532423,1101,293,5436,177,394
2025-04-29$78.95$78.507.0%1.9%15.7%30.5%7.8%2.7%0.1%-1.10B352.5M-21.2M1.754.41146,423256,5731,321,2756,231,260
2025-04-30$78.63$78.508.3%2.3%15.8%38.8%9.7%3.3%-0.0%-1.65B2.22B-25.7M3.353.94108,104362,3761,382,4856,289,872