IGV Options History — January 2025

In January 2025, IGV traded between $96.06 and $105.07. ATM implied volatility averaged 23.4%, placing in the 29.3% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded below realized volatility by 1.9% (HV 20d: 25.4%). Max pain ranged from $98.00 to $102.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 1.74.

Notable Days

  • 2025-01-28: Highest Volume — 49,865 contracts
  • 2025-01-06: Largest IV spike — 31.1% change
  • 2025-01-29: Highest IV Rank — 47.6%
  • 2025-01-29: Largest Expected Move — 7.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$101.00$96.06$105.07$99.66$102.78
Max Pain$100.50$98.00$102.00$98.00$100.00
ATM IV23.4%17.2%28.6%22.2%27.4%
Expected Move6.5%5.6%7.7%6.7%7.2%
HV 20d25.4%21.9%29.5%29.5%24.7%
HV 60d25.2%23.7%26.6%24.0%26.2%
IV Rank29.3%7.1%47.6%24.7%43.2%
IV Percentile70.0%5.2%98.0%70.2%96.4%
Term Structure-1.8%-11.0%2.0%0.5%-4.9%
VWIV22.2%18.8%25.9%23.0%24.2%
Skew 25d4.2%1.4%9.7%4.6%4.9%
Skew 10d6.9%-3.1%14.7%14.7%4.9%
Call IV 25d21.5%18.2%29.6%21.1%21.3%
Put IV 25d25.8%21.3%34.6%25.8%26.2%
Bid-Ask Spread %64.4355.8287.3187.3157.12
Gamma HHI0.100.070.200.140.20
Net GEX7.5M-8.1M30.3M-8.0M-8.1M
Net DEX-141.0M-266.1M509.3K-80.1M-170.4M
Net VEX-1.1M-1.6M-763.4K-1.1M-1.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.740.0511.462.960.26
Total Volume10,995.252,26049,8656,14116,749
Total OI144,696.3593,393176,390169,235153,429

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-01-02$99.66$98.0022.2%6.7%29.5%24.7%23.0%4.6%0.5%-8.0M-80.1M-1.1M2.9687.311,5514,590112,54456,691
2025-01-03$101.31$98.0017.2%5.9%26.6%7.1%21.2%4.0%1.2%2.8M-164.2M-1.2M0.5185.981,603814113,08156,670
2025-01-06$101.45$102.0022.6%6.1%26.5%26.2%20.0%4.8%-5.6%2.5M-171.1M-1.1M0.6260.501,398862111,02253,657
2025-01-07$98.77$102.0025.1%6.5%26.9%35.4%21.6%5.1%0.5%-2.8M-61.7M-973.4K6.4559.281,0756,931111,31253,957
2025-01-08$99.23$102.0024.2%6.5%26.2%32.0%23.8%5.1%2.0%-1.3M-94.8M-979.3K2.2256.848411,869111,51551,565
2025-01-10$97.22$102.0024.1%6.8%26.6%31.7%25.4%4.7%1.0%-636.9K-20.4M-863.6K11.4659.338129,306111,69552,434
2025-01-13$96.06$102.0025.8%6.8%25.0%37.5%22.5%4.3%-2.5%-3.5M509.3K-763.4K1.7355.822,1743,753110,74052,508
2025-01-14$97.14$102.0027.8%6.9%25.6%44.9%21.7%4.8%-5.8%-2.1M-48.7M-902.4K0.1563.478,6101,324112,05553,513
2025-01-15$99.34$102.0022.2%6.0%27.2%24.9%20.9%3.7%-2.6%3.8M-156.8M-1.0M0.2467.454,1701,014119,67453,757
2025-01-16$99.73$100.0022.6%5.9%26.7%26.4%20.4%2.7%-2.0%5.4M-180.1M-974.8K0.3366.081,827597122,45353,937
2025-01-17$100.43$100.0020.9%5.8%26.9%20.2%21.0%3.4%-1.0%6.2M-228.5M-983.6K0.4865.681,710825122,16952,999
2025-01-21$101.94$100.0020.1%5.8%21.9%17.3%18.8%3.4%-0.1%14.2M-124.7M-970.4K0.0561.0616,40281374,17719,216
2025-01-22$104.20$100.0020.1%5.8%23.1%17.2%20.3%2.5%1.7%20.1M-185.7M-1.1M0.6761.362,6261,75876,01819,811
2025-01-23$104.02$100.0019.4%5.6%22.5%14.7%19.2%3.1%-0.4%19.9M-182.5M-1.1M4.1669.415992,49076,95521,252
2025-01-24$103.61$100.0020.1%5.7%22.4%17.2%20.2%3.0%0.0%16.0M-154.9M-1.1M0.8762.821,3961,20877,14923,694
2025-01-27$101.77$100.0025.4%7.5%23.0%36.1%23.7%6.8%-1.0%10.3M-93.6M-1.1M0.3763.4016,2546,03176,52324,290
2025-01-28$105.07$100.0025.9%7.5%25.8%37.9%24.7%2.8%-5.6%26.9M-266.1M-1.4M0.0759.0046,6983,16789,83924,614
2025-01-29$103.62$100.0028.6%7.7%25.0%47.6%25.9%9.7%-11.0%30.3M-249.9M-1.5M0.3463.0415,2965,203111,36626,653
2025-01-30$102.55$100.0027.5%7.6%25.2%43.8%25.1%1.4%0.7%18.2M-186.0M-1.5M0.8463.6413,86411,695116,82632,167
2025-01-31$102.78$100.0027.4%7.2%24.7%43.2%24.2%4.9%-4.9%-8.1M-170.4M-1.6M0.2657.1213,2413,508115,14538,284