PPI Options History — July 2025

In July 2025, PPI traded between $16.23 and $17.09. ATM implied volatility averaged 42.2%, placing in the 2.9% IV rank vs the trailing year. The 30-day expected move averaged 11.2%. IV traded above realized volatility by 31.8% (HV 20d: 10.4%). Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 0 of 22 days.

Notable Days

  • 2025-07-09: Largest IV drop — 44.6% change
  • 2025-07-08: Highest IV Rank — 8.1%
  • 2025-07-02: Largest Expected Move — 14.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$16.72$16.23$17.09$16.23$17.05
ATM IV42.2%34.4%62.2%47.6%46.3%
Expected Move11.2%9.3%14.0%13.7%13.3%
HV 20d10.4%9.6%11.1%9.8%10.0%
HV 60d15.1%10.4%28.0%28.0%10.4%
IV Rank2.9%0.8%8.1%4.3%4.0%
IV Percentile11.1%1.6%40.5%11.9%16.7%
Term Structure-11.2%-16.1%-7.7%-12.2%-14.4%
Skew 25d2.1%0.9%3.7%1.8%1.6%
Skew 10d4.2%2.4%7.5%4.5%3.7%
Call IV 25d47.8%38.4%59.1%58.5%58.6%
Put IV 25d49.9%40.5%60.3%60.3%60.3%
Bid-Ask Spread %150.78147.92159.89159.89150.21
Net GEX00000
Net DEX00000
Net VEX00000
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI00000

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-07-01$16.23$0.0047.6%13.7%9.8%4.3%0.0%1.8%-12.2%0000.00159.890000
2025-07-02$16.38$0.0048.7%14.0%9.6%4.6%0.0%0.9%-13.8%0000.00158.280000
2025-07-03$16.51$0.0049.2%9.3%9.7%4.7%0.0%2.1%-7.7%0000.00152.680000
2025-07-07$16.39$0.0059.8%10.5%10.2%7.5%0.0%1.8%-12.0%0000.00149.690000
2025-07-08$16.50$0.0062.2%10.4%10.3%8.1%0.0%2.2%-9.1%0000.00149.760000
2025-07-09$16.68$0.0034.5%9.9%10.8%0.9%0.0%2.4%-9.6%0000.00149.300000
2025-07-10$16.59$0.0034.4%9.8%11.0%0.8%0.0%2.2%-10.4%0000.00150.250000
2025-07-11$16.63$0.0034.8%10.0%11.0%1.0%0.0%2.4%-10.6%0000.00149.790000
2025-07-14$16.75$0.0036.4%10.4%10.2%1.4%0.0%2.1%-11.8%0000.00150.420000
2025-07-15$16.58$0.0036.4%10.4%11.1%1.4%0.0%2.4%-11.3%0000.00150.160000
2025-07-16$16.59$0.0037.0%10.6%10.9%1.5%0.0%1.7%-13.1%0000.00148.080000
2025-07-17$16.71$0.0036.9%10.6%10.6%1.5%0.0%3.7%-8.3%0000.00148.360000
2025-07-18$16.69$0.0036.2%10.4%10.6%1.3%0.0%3.0%-8.4%0000.00148.770000
2025-07-21$16.70$0.0039.0%11.2%10.5%2.1%0.0%2.2%-9.8%0000.00149.580000
2025-07-22$16.84$0.0039.0%11.2%10.7%2.0%0.0%2.7%-9.1%0000.00147.920000
2025-07-23$16.98$0.0039.7%11.4%10.7%2.2%0.0%2.8%-10.0%0000.00150.110000
2025-07-24$16.93$0.0039.9%11.4%10.3%2.3%0.0%2.9%-10.9%0000.00151.560000
2025-07-25$17.09$0.0039.1%11.2%9.8%2.1%0.0%1.3%-10.6%0000.00151.290000
2025-07-28$16.98$0.0042.4%12.2%10.3%2.9%0.0%1.5%-13.7%0000.00149.950000
2025-07-29$17.07$0.0043.5%12.5%10.3%3.2%0.0%1.5%-14.0%0000.00150.970000
2025-07-30$17.03$0.0045.8%13.1%10.3%3.8%0.0%1.6%-16.1%0000.00150.180000
2025-07-31$17.05$0.0046.3%13.3%10.0%4.0%0.0%1.6%-14.4%0000.00150.210000