PPI Options History — March 2025

In March 2025, PPI traded between $13.70 and $15.03. ATM implied volatility averaged 77.1%, placing in the 12.4% IV rank vs the trailing year. The 30-day expected move averaged 22.2%. IV traded above realized volatility by 52.4% (HV 20d: 24.7%). Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 0 of 21 days.

Notable Days

  • 2025-03-11: Largest IV drop — 37.9% change
  • 2025-03-10: Highest IV Rank — 19.3%
  • 2025-03-14: Largest Expected Move — 38.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$14.35$13.70$15.03$14.27$14.47
ATM IV77.1%58.7%103.2%86.3%58.7%
Expected Move22.2%11.3%38.8%24.7%11.3%
HV 20d24.7%16.1%33.1%16.4%31.8%
HV 60d20.0%17.6%23.0%17.7%23.0%
IV Rank12.4%7.6%19.3%14.8%7.6%
IV Percentile63.6%24.6%90.5%79.7%24.6%
Term Structure-18.2%-29.3%-11.7%-29.3%-17.8%
Skew 25d2.3%1.1%4.2%1.3%4.2%
Skew 10d18.3%-4.4%29.8%-4.4%5.5%
Call IV 25d86.5%65.8%108.1%104.9%65.8%
Put IV 25d88.9%70.1%109.3%106.2%70.1%
Bid-Ask Spread %174.96156.79178.66175.18156.79
Net GEX00000
Net DEX00000
Net VEX00000
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI00000

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-03-03$14.27$0.0086.3%24.7%16.4%14.8%0.0%1.3%-29.3%0000.00175.180000
2025-03-04$14.29$0.0086.6%24.8%16.4%14.9%0.0%1.2%-29.3%0000.00174.810000
2025-03-05$14.38$0.0092.1%26.4%16.1%16.4%0.0%1.4%-12.4%0000.00175.160000
2025-03-06$14.09$0.0094.2%27.0%17.1%16.9%0.0%1.1%-12.2%0000.00174.390000
2025-03-07$14.14$0.0096.1%27.6%17.2%17.4%0.0%2.0%-11.7%0000.00174.630000
2025-03-10$13.70$0.00103.2%29.6%19.8%19.3%0.0%1.9%-13.7%0000.00172.860000
2025-03-11$13.82$0.0064.1%31.7%20.0%9.0%0.0%3.6%-13.4%0000.00173.490000
2025-03-12$14.03$0.0066.0%33.6%21.2%9.5%0.0%2.5%-14.5%0000.00174.570000
2025-03-13$13.84$0.0069.6%36.3%21.4%10.5%0.0%3.6%-14.7%0000.00175.290000
2025-03-14$14.19$0.0068.2%38.8%23.7%10.1%0.0%3.4%-14.6%0000.00175.330000
2025-03-17$14.47$0.0072.8%16.0%25.0%11.3%0.0%1.8%-18.4%0000.00178.660000
2025-03-18$14.38$0.0072.7%16.0%24.6%11.3%0.0%3.1%-18.7%0000.00177.410000
2025-03-19$14.93$0.0065.8%14.3%28.6%9.5%0.0%2.6%-14.2%0000.00176.220000
2025-03-20$14.84$0.0067.8%14.7%28.5%10.0%0.0%2.3%-15.8%0000.00177.890000
2025-03-21$14.42$0.0075.7%16.2%28.3%12.1%0.0%1.6%-19.4%0000.00177.530000
2025-03-24$15.03$0.0070.4%14.7%32.1%10.7%0.0%2.8%-18.1%0000.00178.060000
2025-03-25$14.75$0.0072.5%15.0%32.7%11.2%0.0%1.9%-20.8%0000.00178.510000
2025-03-26$14.52$0.0072.8%14.9%33.1%11.3%0.0%2.1%-23.5%0000.00175.560000
2025-03-27$14.44$0.0082.9%16.6%32.8%13.9%0.0%2.2%-26.3%0000.00176.340000
2025-03-28$14.43$0.0081.2%16.6%32.8%13.5%0.0%2.3%-22.7%0000.00175.440000
2025-03-31$14.47$0.0058.7%11.3%31.8%7.6%0.0%4.2%-17.8%0000.00156.790000