HYG Options History — July 2025

In July 2025, HYG traded between $79.90 and $80.52. ATM implied volatility averaged 4.5%, placing in the 14.2% IV rank vs the trailing year. The 30-day expected move averaged 1.3%. IV traded above realized volatility by 1.1% (HV 20d: 3.4%). Max pain ranged from $80.00 to $80.00. Net GEX was positive for 1 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 7.19.

Notable Days

  • 2025-07-15: Highest Volume — 609,263 contracts
  • 2025-07-07: Largest IV spike — 17.9% change
  • 2025-07-07: Highest IV Rank — 20.7%
  • 2025-07-07: Largest Expected Move — 1.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$80.25$79.90$80.52$80.20$80.37
Max Pain$80.00$80.00$80.00$80.00$80.00
ATM IV4.5%3.6%5.5%5.3%3.8%
Expected Move1.3%0.9%1.5%1.4%0.9%
HV 20d3.4%2.6%3.7%3.4%2.6%
HV 60d5.2%3.8%9.3%9.3%3.8%
IV Rank14.2%8.3%20.7%19.1%9.6%
IV Percentile28.5%3.6%59.5%52.8%7.1%
Term Structure0.1%-0.2%0.4%-0.2%0.3%
VWIV5.6%3.8%7.3%4.9%3.8%
Skew 25d2.0%1.3%2.5%1.9%1.6%
Skew 10d4.2%2.6%5.7%4.1%3.8%
Call IV 25d3.9%3.3%4.6%4.5%3.4%
Put IV 25d6.0%4.7%7.0%6.3%4.9%
Bid-Ask Spread %5.213.199.055.084.38
Gamma HHI0.180.130.250.140.18
Net GEX-1.16B-2.56B230.2M-553.3M-2.12B
Net DEX795.0M-957.3M2.89B668.7M2.89B
Net VEX-19.3M-24.0M-9.2M-23.5M-22.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.190.8315.442.211.48
Total Volume335,462.04591,922609,263325,675178,065
Total OI7,298,343.9556,565,7378,633,0026,977,8567,327,938

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-07-01$80.20$80.005.3%1.4%3.4%19.1%4.9%1.9%-0.2%-553.3M668.7M-23.5M2.215.08101,528224,147896,1846,081,672
2025-07-02$80.28$80.004.8%1.1%3.4%15.7%5.9%2.0%-0.2%-398.4M329.3M-22.8M7.906.2840,914323,255922,3636,111,743
2025-07-03$80.35$80.004.7%1.5%3.4%15.2%5.2%1.8%-0.2%-289.1M-66.4M-21.1M2.915.8623,49668,426954,7926,190,666
2025-07-07$80.07$80.005.5%1.5%3.6%20.7%7.3%2.4%-0.1%-1.12B1.69B-24.0M15.445.4420,638318,722954,1085,915,333
2025-07-08$79.97$80.005.1%1.5%3.6%18.3%6.7%2.4%-0.2%-1.46B2.29B-24.0M2.175.1378,407170,272955,9426,115,213
2025-07-09$80.19$80.005.1%1.4%3.7%18.2%6.8%2.5%-0.1%-876.4M794.9M-21.7M6.685.1949,552331,0361,028,1956,212,956
2025-07-10$80.16$80.004.8%1.4%3.7%16.0%6.1%2.0%-0.1%-1.07B665.5M-20.2M9.545.5537,977362,1891,072,7706,396,872
2025-07-11$80.02$80.004.9%1.4%3.7%16.5%6.4%2.5%0.0%-2.56B2.05B-23.1M11.574.1834,396397,8651,081,2556,559,765
2025-07-14$80.09$80.005.0%1.4%3.7%17.2%5.6%2.3%0.1%-1.50B1.36B-20.3M8.154.7937,969309,301980,2826,733,054
2025-07-15$79.90$80.005.1%1.5%3.7%17.8%6.7%2.5%0.4%-2.02B2.75B-23.7M14.793.7638,574570,689983,2776,701,459
2025-07-16$80.06$80.005.0%1.4%3.6%17.4%6.9%2.5%0.1%-1.90B1.76B-21.6M8.193.1943,724358,150994,7777,036,572
2025-07-17$80.13$80.005.0%1.4%3.6%17.4%6.2%2.5%0.1%-1.85B1.37B-21.6M11.793.7029,293345,3781,033,8987,264,774
2025-07-18$80.23$80.004.9%1.4%3.6%16.8%6.0%2.5%0.3%-1.42B755.8M-20.8M7.274.1636,374264,6041,061,7047,571,298
2025-07-21$80.38$80.004.2%1.2%3.5%12.0%5.6%2.2%0.2%-957.8M153.4M-17.7M14.354.3032,767470,211883,4915,682,246
2025-07-22$80.48$80.004.3%1.3%3.5%12.6%5.3%2.0%0.2%-795.3M-491.6M-15.6M4.385.1235,315154,529889,7675,856,062
2025-07-23$80.50$80.003.9%1.2%3.3%10.2%5.1%1.8%0.2%-567.5M-701.1M-14.5M7.164.6840,960293,419901,7365,925,645
2025-07-24$80.45$80.003.7%1.1%3.3%8.6%4.5%1.7%0.2%-68.0M-541.6M-13.7M9.905.7441,905414,750928,1126,139,685
2025-07-25$80.52$80.003.6%1.0%3.3%8.3%4.2%1.4%0.2%230.2M-500.1M-14.6M2.165.4072,060155,368934,2806,262,850
2025-07-28$80.45$80.003.6%1.0%3.3%8.3%4.1%1.4%0.2%-907.3M-310.4M-12.6M3.858.3226,266101,175911,0246,011,687
2025-07-29$80.47$80.003.6%1.0%3.0%8.4%4.4%1.3%0.2%-827.5M-957.3M-9.2M5.495.4234,245187,928926,8476,080,015
2025-07-30$80.31$80.003.8%1.0%2.6%9.4%4.6%1.8%0.4%-2.42B1.53B-15.5M0.839.05285,887238,439949,1866,142,072
2025-07-31$80.37$80.003.8%0.9%2.6%9.6%3.8%1.6%0.3%-2.12B2.89B-22.8M1.484.3871,861106,2041,058,9256,269,013