HYG Options History — October 2025

In October 2025, HYG traded between $80.03 and $81.31. ATM implied volatility averaged 5.2%, placing in the 18.8% IV rank vs the trailing year. The 30-day expected move averaged 1.4%. IV traded above realized volatility by 1.8% (HV 20d: 3.4%). Max pain ranged from $81.00 to $81.00. Net GEX was positive for 0 of 23 trading days. Term structure was in contango for 14 of 23 days. Put/call ratio averaged 7.73.

Notable Days

2025-10-28: Highest Volume — 1,280,248 contracts
2025-10-10: Largest IV spike — 38.9% change
2025-10-10: Highest IV Rank — 35.2%
2025-10-10: Largest Expected Move — 2.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$80.77	$80.03	$81.31	$80.93	$80.81
Max Pain	$81.00	$81.00	$81.00	$81.00	$81.00
ATM IV	5.2%	3.6%	7.8%	4.3%	4.3%
Expected Move	1.4%	1.0%	2.1%	1.1%	1.1%
HV 20d	3.4%	2.6%	4.0%	2.8%	4.0%
HV 60d	3.5%	3.2%	3.7%	3.3%	3.7%
IV Rank	18.8%	8.5%	35.2%	12.6%	12.4%
IV Percentile	51.0%	5.6%	90.1%	23.8%	23.4%
Term Structure	0.1%	-1.2%	1.0%	0.6%	0.2%
VWIV	6.7%	4.8%	10.8%	5.3%	4.8%
Skew 25d	3.0%	1.9%	5.4%	2.1%	2.1%
Skew 10d	5.4%	3.1%	9.0%	3.8%	3.5%
Call IV 25d	4.3%	2.6%	6.4%	3.5%	4.0%
Put IV 25d	7.3%	5.5%	11.2%	5.6%	6.1%
Bid-Ask Spread %	14.97	4.45	24.69	4.45	19.32
Gamma HHI	0.15	0.12	0.18	0.13	0.16
Net GEX	-2.48B	-4.48B	-466.7M	-2.30B	-2.83B
Net DEX	4.04B	-1.37B	11.85B	2.86B	4.23B
Net VEX	-41.0M	-56.6M	-26.7M	-40.0M	-38.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	7.73	1.53	21.39	5.21	1.53
Total Volume	546,914.087	196,656	1,280,248	364,594	273,757
Total OI	9,450,641	7,955,089	11,282,332	8,957,675	9,696,486

Daily Data (23 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
2025-10-01	$80.93	$81.00	4.3%	1.1%	2.8%	12.6%	5.3%	2.1%	0.6%	-2.30B	2.86B	-40.0M	5.21	4.45	58,719	305,875	1,382,806	7,574,869
2025-10-02	$80.93	$81.00	4.6%	1.2%	2.7%	14.8%	6.5%	2.5%	0.6%	-2.53B	3.75B	-43.7M	21.39	5.56	22,476	480,654	1,422,997	7,643,429
2025-10-03	$80.88	$81.00	4.6%	1.0%	2.7%	14.8%	5.0%	3.4%	0.4%	-1.87B	3.76B	-43.6M	3.37	6.32	108,118	364,856	1,446,641	7,892,499
2025-10-06	$80.87	$81.00	4.7%	1.3%	2.7%	15.3%	7.9%	2.7%	-0.0%	-1.96B	3.15B	-40.8M	17.31	13.94	24,704	427,737	1,486,778	7,771,514
2025-10-07	$80.78	$81.00	5.0%	1.3%	2.6%	17.0%	6.9%	2.6%	-0.3%	-2.23B	4.11B	-42.8M	7.95	12.25	58,915	468,176	1,499,645	7,886,822
2025-10-08	$80.66	$81.00	5.9%	1.3%	2.7%	23.4%	5.7%	2.7%	-0.3%	-2.83B	4.99B	-44.0M	6.30	12.90	26,948	169,708	1,546,986	8,181,466
2025-10-09	$80.43	$81.00	5.6%	1.7%	2.6%	21.0%	7.4%	3.6%	-0.1%	-3.88B	7.67B	-46.7M	7.46	11.86	125,319	934,485	1,556,604	8,248,948
2025-10-10	$80.03	$81.00	7.8%	2.1%	3.0%	35.2%	9.2%	4.5%	-0.4%	-4.48B	11.85B	-56.6M	13.63	15.63	63,993	872,347	1,632,321	8,374,065
2025-10-13	$80.41	$81.00	5.9%	1.9%	3.4%	23.3%	7.3%	4.3%	0.7%	-3.88B	8.49B	-51.2M	6.80	13.24	90,354	614,027	1,639,907	8,543,171
2025-10-14	$80.50	$81.00	6.4%	2.0%	3.5%	26.1%	8.0%	3.8%	0.8%	-3.49B	7.48B	-49.8M	6.57	16.62	81,868	538,220	1,710,986	8,589,477
2025-10-15	$80.75	$81.00	6.2%	1.5%	3.6%	25.2%	7.7%	3.1%	-1.2%	-2.81B	4.45B	-44.8M	4.70	24.69	75,966	356,850	1,779,509	8,718,039
2025-10-16	$80.53	$81.00	7.6%	2.0%	3.6%	34.1%	10.8%	5.4%	-0.7%	-3.70B	7.86B	-56.3M	7.61	13.77	111,748	850,793	1,846,716	8,840,346
2025-10-17	$80.70	$81.00	5.9%	1.6%	3.7%	23.5%	7.9%	3.4%	-1.1%	-2.69B	4.15B	-42.7M	5.05	16.59	83,383	421,277	1,925,232	9,357,100
2025-10-20	$80.88	$81.00	4.9%	1.4%	3.8%	16.3%	7.3%	3.6%	0.2%	-1.52B	891.9M	-34.7M	9.56	16.88	72,403	692,209	1,606,065	6,349,024
2025-10-21	$80.81	$81.00	4.9%	1.4%	3.8%	16.4%	6.7%	3.0%	0.2%	-1.55B	1.62B	-31.1M	7.35	13.99	50,720	372,624	1,592,301	6,581,321
2025-10-22	$80.72	$81.00	5.8%	1.7%	3.8%	22.3%	7.1%	3.6%	0.0%	-2.17B	3.12B	-36.5M	6.41	15.05	36,331	232,892	1,597,349	6,872,775
2025-10-23	$80.84	$81.00	4.4%	1.3%	3.7%	13.3%	6.3%	2.6%	0.1%	-2.23B	3.55B	-39.9M	13.36	17.41	20,514	273,972	1,616,648	7,020,907
2025-10-24	$81.06	$81.00	4.3%	1.2%	3.8%	12.9%	5.3%	2.2%	0.1%	-1.37B	1.04B	-31.5M	2.57	18.70	140,010	359,953	1,625,432	7,148,991
2025-10-27	$81.31	$81.00	3.6%	1.1%	3.9%	8.5%	5.2%	2.0%	1.0%	-466.7M	-1.37B	-26.7M	3.45	19.54	94,416	326,043	1,658,201	7,212,177
2025-10-28	$81.20	$81.00	4.6%	1.3%	4.0%	14.7%	5.5%	1.9%	0.7%	-1.16B	179.4M	-32.1M	9.36	18.95	123,522	1,156,726	1,674,147	7,373,596
2025-10-29	$80.95	$81.00	4.7%	1.3%	4.0%	15.0%	5.2%	2.5%	-0.1%	-2.25B	1.66B	-34.2M	8.44	18.17	40,234	339,687	1,736,566	7,764,587
2025-10-30	$80.81	$81.00	4.5%	1.2%	4.0%	13.7%	5.2%	2.5%	0.0%	-2.75B	3.53B	-33.7M	2.41	18.38	69,004	166,491	1,746,494	7,992,803
2025-10-31	$80.81	$81.00	4.3%	1.1%	4.0%	12.4%	4.8%	2.1%	0.2%	-2.83B	4.23B	-38.8M	1.53	19.32	108,001	165,756	1,769,140	7,927,346