PPI Options History — May 2025

In May 2025, PPI traded between $14.64 and $15.71. ATM implied volatility averaged 52.4%, placing in the 5.5% IV rank vs the trailing year. The 30-day expected move averaged 11.4%. IV traded above realized volatility by 29.0% (HV 20d: 23.4%). Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 0 of 21 days.

Notable Days

  • 2025-05-14: Largest IV drop — 63.8% change
  • 2025-05-12: Highest IV Rank — 16.2%
  • 2025-05-01: Largest Expected Move — 16.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$15.22$14.64$15.71$14.64$15.48
ATM IV52.4%31.2%93.1%56.1%41.4%
Expected Move11.4%8.9%16.1%16.1%11.9%
HV 20d23.4%11.4%51.7%51.7%11.4%
HV 60d35.9%35.3%36.3%36.0%35.4%
IV Rank5.5%0.0%16.2%6.5%2.7%
IV Percentile22.2%0.0%82.5%11.1%3.6%
Term Structure-9.1%-18.4%-4.4%-18.4%-12.8%
Skew 25d3.5%2.2%6.1%3.5%3.0%
Skew 10d6.1%4.0%9.0%6.7%4.4%
Call IV 25d45.1%34.1%70.6%69.2%43.9%
Put IV 25d48.6%37.2%73.8%72.7%46.9%
Bid-Ask Spread %155.58147.14163.31152.75148.17
Gamma HHI1.001.001.001.001.00
Net GEX-3-73000
Net DEX30062400
Net VEX00000
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI0.0950100

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$14.64$0.0056.1%16.1%51.7%6.5%0.0%3.5%-18.4%0000.00152.750000
2025-05-02$14.79$0.0055.8%16.0%47.0%6.4%0.0%3.2%-18.3%0000.00154.870000
2025-05-05$14.79$0.0065.4%11.1%39.3%8.9%0.0%3.8%-7.6%0000.00163.310000
2025-05-06$14.86$0.0065.9%11.2%37.0%9.0%0.0%4.3%-8.0%0000.00162.860000
2025-05-07$14.77$0.0071.0%11.3%37.3%10.3%0.0%3.8%-8.7%0000.00162.830000
2025-05-08$14.97$0.0073.5%10.7%27.9%11.0%0.0%4.1%-6.1%0000.00162.260000
2025-05-09$14.93$0.0077.1%11.2%20.5%12.0%0.0%4.2%-8.6%0000.00163.010000
2025-05-12$15.16$0.0093.1%11.1%19.3%16.2%0.0%3.7%-9.8%0000.00161.670000
2025-05-13$15.25$0.0086.3%9.0%19.3%14.4%0.0%3.1%-7.8%0000.00151.700000
2025-05-14$15.20$0.0031.2%8.9%19.5%0.0%0.0%2.7%-6.2%0000.00152.740000
2025-05-15$15.23$0.0032.2%9.2%19.2%0.3%0.0%3.9%-4.4%-7362400.00151.510001
2025-05-16$15.34$0.0033.1%9.5%18.9%0.5%0.0%3.5%-5.9%0000.00151.430001
2025-05-19$15.43$0.0041.5%11.9%18.8%2.7%0.0%2.6%-7.2%0000.00158.850000
2025-05-20$15.53$0.0038.7%11.1%18.5%2.0%0.0%2.6%-6.9%0000.00160.150000
2025-05-21$15.43$0.0042.9%12.3%16.0%3.1%0.0%2.3%-8.4%0000.00155.370000
2025-05-22$15.39$0.0035.5%10.2%15.7%1.1%0.0%3.8%-6.1%0000.00148.380000
2025-05-23$15.48$0.0045.7%13.1%14.5%3.8%0.0%6.1%-9.1%0000.00154.920000
2025-05-27$15.71$0.0034.6%9.9%15.0%0.9%0.0%4.2%-8.4%0000.00147.140000
2025-05-28$15.60$0.0035.3%10.1%12.8%1.1%0.0%2.2%-10.5%0000.00147.520000
2025-05-29$15.54$0.0044.2%12.7%12.9%3.4%0.0%3.2%-11.4%0000.00155.690000
2025-05-30$15.48$0.0041.4%11.9%11.4%2.7%0.0%3.0%-12.8%0000.00148.170000