PPI Options History — April 2025

In April 2025, PPI traded between $12.63 and $14.78. ATM implied volatility averaged 68.5%, placing in the 9.9% IV rank vs the trailing year. The 30-day expected move averaged 16.6%. IV traded above realized volatility by 20.1% (HV 20d: 48.5%). Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 1 of 21 days.

Notable Days

  • 2025-04-03: Largest IV spike — 55.7% change
  • 2025-04-07: Highest IV Rank — 31.2%
  • 2025-04-07: Largest Expected Move — 25.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.75$12.63$14.78$14.78$14.33
ATM IV68.5%47.5%148.8%54.2%62.2%
Expected Move16.6%10.5%25.0%10.7%17.8%
HV 20d48.5%32.6%54.7%32.6%51.1%
HV 60d32.8%23.2%35.8%23.4%35.8%
IV Rank9.9%4.5%31.2%6.4%8.0%
IV Percentile32.6%5.2%96.0%10.7%32.1%
Term Structure-8.5%-29.2%211.1%-15.9%-20.8%
Skew 25d4.8%0.8%9.8%5.3%5.4%
Skew 10d7.5%-4.2%23.9%6.9%4.8%
Call IV 25d66.5%43.2%100.7%65.8%69.2%
Put IV 25d71.3%47.3%110.5%71.0%74.6%
Bid-Ask Spread %157.40148.87177.19154.32152.74
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
2025-04-01$14.78$0.0054.2%10.7%32.6%6.4%0.0%5.3%-15.9%0000.00154.320000
2025-04-02$14.73$0.0054.0%10.5%32.6%6.4%0.0%4.1%-10.2%0000.00155.120000
2025-04-03$13.89$0.0084.0%15.9%38.3%14.2%0.0%2.5%-17.9%0000.00168.750000
2025-04-04$13.00$0.00106.7%19.3%44.8%20.2%0.0%7.8%-21.6%0000.00168.680000
2025-04-07$12.63$0.00148.8%25.0%44.5%31.2%0.0%9.8%-29.2%0000.00174.990000
2025-04-08$12.68$0.00126.3%20.1%44.4%25.3%0.0%8.0%-24.7%0000.00162.920000
2025-04-09$13.66$0.0076.1%21.8%52.2%12.2%0.0%4.7%-24.5%0000.00177.190000
2025-04-10$13.03$0.0071.2%20.4%54.5%10.9%0.0%4.7%-27.9%0000.00162.670000
2025-04-11$13.39$0.0056.0%16.1%54.7%6.9%0.0%5.1%-19.2%0000.00148.870000
2025-04-14$13.51$0.0047.5%13.6%54.2%4.5%0.0%3.5%-16.4%0000.00154.020000
2025-04-15$13.52$0.0048.3%13.8%54.2%4.7%0.0%3.2%-18.6%0000.00153.460000
2025-04-16$13.47$0.0058.6%16.8%52.1%7.1%0.0%3.3%-24.0%0000.00152.290000
2025-04-17$13.68$0.0049.8%14.3%52.6%4.8%0.0%5.1%211.1%0000.00152.540000
2025-04-21$13.70$0.0053.6%15.4%51.8%5.8%0.0%5.6%-15.4%0000.00150.720000
2025-04-22$13.66$0.0055.7%16.0%49.1%6.3%0.0%4.2%-16.6%0000.00152.850000
2025-04-23$14.13$0.0053.3%15.3%50.6%5.7%0.0%4.5%-12.0%0000.00152.490000
2025-04-24$14.05$0.0054.7%15.7%50.4%6.1%0.0%4.4%-17.1%0000.00151.030000
2025-04-25$14.35$0.0057.0%16.4%51.0%6.7%0.0%4.9%-17.1%0000.00152.730000
2025-04-28$14.44$0.0059.2%17.0%51.1%7.3%0.0%3.6%-18.5%0000.00153.140000
2025-04-29$14.16$0.0061.9%17.8%51.5%8.0%0.0%0.8%-22.7%0000.00153.880000
2025-04-30$14.33$0.0062.2%17.8%51.1%8.0%0.0%5.4%-20.8%0000.00152.740000