HYG Options History — August 2025

In August 2025, HYG traded between $79.97 and $80.97. ATM implied volatility averaged 4.3%, placing in the 12.8% IV rank vs the trailing year. The 30-day expected move averaged 1.2%. IV traded above realized volatility by 1.2% (HV 20d: 3.1%). Max pain ranged from $80.00 to $80.50. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 6.92.

Notable Days

  • 2025-08-20: Highest Volume — 1,278,348 contracts
  • 2025-08-21: Largest IV spike — 24.7% change
  • 2025-08-05: Highest IV Rank — 20.4%
  • 2025-08-05: Largest Expected Move — 1.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$80.46$79.97$80.97$79.97$80.88
Max Pain$80.02$80.00$80.50$80.50$80.00
ATM IV4.3%3.5%5.5%5.3%4.2%
Expected Move1.2%1.0%1.5%1.4%1.2%
HV 20d3.1%2.7%3.9%3.1%3.3%
HV 60d3.5%3.1%4.0%3.9%3.3%
IV Rank12.8%7.2%20.4%19.0%12.0%
IV Percentile24.4%3.2%61.1%54.4%20.2%
Term Structure0.2%-0.9%0.9%0.5%0.1%
VWIV5.3%3.3%7.3%7.3%4.5%
Skew 25d1.9%1.0%3.3%3.3%1.1%
Skew 10d3.7%1.5%7.5%7.5%1.8%
Call IV 25d3.6%3.0%4.4%3.7%3.9%
Put IV 25d5.6%4.4%7.0%7.0%5.1%
Bid-Ask Spread %7.644.3338.4838.4811.43
Gamma HHI0.210.170.310.190.26
Net GEX-1.52B-3.04B-194.5M-2.87B-1.34B
Net DEX1.21B-2.36B4.73B4.73B-1.24B
Net VEX-23.7M-32.6M-13.0M-32.6M-18.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio6.921.1318.319.961.34
Total Volume431,104.429152,1211,278,348813,577303,768
Total OI7,891,401.0956,783,0268,888,9947,215,9328,501,610

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-08-01$79.97$80.505.3%1.4%3.1%19.0%7.3%3.3%0.5%-2.87B4.73B-32.6M9.9638.4874,231739,346931,0586,284,874
2025-08-04$80.20$80.005.3%1.4%3.0%19.2%7.2%2.8%-0.3%-2.11B3.31B-30.4M4.655.4156,233261,625912,9696,765,898
2025-08-05$80.22$80.005.5%1.5%3.0%20.4%6.9%2.5%-0.2%-2.18B3.17B-29.6M8.525.5727,541234,693910,7246,918,792
2025-08-06$80.28$80.004.7%1.5%2.8%15.1%5.8%2.2%-0.2%-1.85B2.24B-25.7M6.175.0030,788189,952937,3906,768,540
2025-08-07$80.19$80.005.4%1.5%2.9%20.1%5.9%2.4%-0.2%-2.33B3.45B-28.9M6.606.3474,764493,144948,5036,912,548
2025-08-08$80.19$80.004.9%1.4%2.8%16.7%5.4%2.6%-0.1%-2.68B3.27B-29.0M6.785.3331,984216,8071,006,7617,106,377
2025-08-11$80.20$80.005.2%1.4%2.8%18.4%5.6%2.5%-0.2%-2.45B3.10B-27.1M5.915.3636,595216,4101,012,5357,134,278
2025-08-12$80.35$80.003.9%1.3%2.7%10.4%5.4%1.9%0.8%-1.89B1.54B-22.1M3.924.7870,042274,5821,024,5577,197,720
2025-08-13$80.55$80.003.9%1.0%2.7%10.1%4.7%1.7%-0.9%-919.8M143.2M-21.6M5.975.7752,628314,3891,080,5637,261,099
2025-08-14$80.41$80.004.1%1.4%2.8%11.4%5.5%2.1%0.9%-1.06B1.16B-24.1M6.274.3380,819506,9141,139,2317,505,824
2025-08-15$80.43$80.004.2%1.3%2.8%11.8%6.1%2.0%0.7%-1.32B1.31B-25.4M4.764.5554,111257,7491,183,0547,705,940
2025-08-18$80.41$80.003.8%1.1%2.7%9.2%5.5%1.7%-0.0%-1.01B1.35B-23.8M18.316.007,877144,2441,033,1215,749,905
2025-08-19$80.40$80.003.9%1.1%2.7%10.2%4.8%1.6%0.3%-1.14B1.06B-23.0M12.156.1023,927290,7491,040,4895,799,279
2025-08-20$80.35$80.003.6%1.0%2.7%8.5%5.2%2.1%0.2%-1.45B2.00B-26.6M12.716.5093,2091,185,1391,040,6405,957,874
2025-08-21$80.23$80.004.5%1.3%2.7%14.3%5.6%2.3%-0.0%-3.04B3.75B-32.5M4.456.61121,592541,6321,107,7316,892,639
2025-08-22$80.84$80.003.5%1.0%3.9%7.2%4.7%1.5%0.3%-767.8M-1.63B-16.6M9.015.9548,239434,4301,122,7106,713,223
2025-08-25$80.72$80.003.9%1.1%3.9%9.9%4.1%1.2%0.3%-660.0M-948.2M-18.1M10.595.9539,063413,7041,091,0136,697,949
2025-08-26$80.82$80.003.7%1.1%3.9%8.8%4.7%1.1%0.5%-194.5M-1.70B-15.2M2.797.0550,634141,4981,101,8806,935,328
2025-08-27$80.95$80.003.6%1.0%3.8%7.9%3.3%1.0%0.2%-213.4M-2.18B-14.0M3.356.36123,861414,4431,065,1526,960,072
2025-08-28$80.97$80.003.7%1.1%3.8%9.0%4.0%1.0%0.3%-331.3M-2.36B-13.0M1.137.55178,101201,7361,094,5767,164,997
2025-08-29$80.88$80.004.2%1.2%3.3%12.0%4.5%1.1%0.1%-1.34B-1.24B-18.2M1.3411.43129,590174,1781,163,7297,337,881