SPMB Options History — January 2025

In January 2025, SPMB traded between $21.21 and $21.69. ATM implied volatility averaged 69.0%, placing in the 40.3% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded above realized volatility by 63.0% (HV 20d: 6.0%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 1 of 20 days. Put/call ratio averaged 0.11.

Notable Days

2025-01-06: Highest Volume — 181 contracts
2025-01-15: Largest IV drop — 76.9% change
2025-01-14: Highest IV Rank — 98.4%
2025-01-03: Largest Expected Move — 21.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$21.50	$21.21	$21.69	$21.54	$21.62
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	69.0%	34.7%	150.4%	67.4%	57.0%
Expected Move	13.1%	7.3%	21.1%	19.3%	16.3%
HV 20d	6.0%	5.3%	7.1%	6.0%	5.9%
HV 60d	5.9%	5.6%	6.2%	5.6%	6.1%
IV Rank	40.3%	18.4%	98.4%	41.0%	23.4%
IV Percentile	61.2%	8.7%	99.2%	82.1%	61.9%
Term Structure	-14.0%	-36.0%	27.9%	-26.4%	-17.2%
VWIV	20.0%	19.0%	21.8%	19.0%	21.8%
Skew 25d	-18.9%	-37.4%	27.9%	6.5%	-36.1%
Skew 10d	-17.8%	-30.4%	8.7%	8.7%	-30.4%
Call IV 25d	58.3%	49.3%	70.5%	64.6%	70.5%
Put IV 25d	39.4%	12.3%	92.8%	71.1%	34.4%
Bid-Ask Spread %	177.07	173.74	178.74	175.59	176.88
Gamma HHI	0.91	0.90	0.93	0.91	0.91
Net GEX	8.9K	7.6K	10.6K	8.1K	8.7K
Net DEX	-91.0K	-104.6K	-71.8K	-89.1K	-87.6K
Net VEX	-402	-505	-325	-447	-325
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.11	0.00	0.56	0.00	0.56
Total Volume	24.25	0	181	0	0
Total OI	246.8	215	313	215	229

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-01-02	$21.54	$25.00	67.4%	19.3%	6.0%	41.0%	0.0%	6.5%	-26.4%	8.1K	-89.1K	-447	0.00	175.59	N/A	N/A	0	0	214	1
2025-01-03	$21.49	$25.00	73.7%	21.1%	5.8%	45.4%	0.0%	27.9%	-36.0%	8.0K	-87.4K	-410	0.00	175.67	N/A	N/A	0	0	214	1
2025-01-06	$21.45	$25.00	82.4%	7.3%	5.7%	51.4%	19.0%	-19.4%	-14.5%	7.8K	-71.8K	-352	0.00	177.21	N/A	N/A	181	0	214	1
2025-01-07	$21.41	$25.00	102.9%	8.9%	5.6%	65.5%	19.4%	-37.4%	-13.3%	7.6K	-75.3K	-357	0.00	173.74	N/A	N/A	96	0	214	1
2025-01-08	$21.41	$25.00	88.4%	9.0%	5.6%	55.5%	0.0%	-20.0%	-14.7%	10.2K	-103.3K	-505	0.00	178.60	N/A	N/A	0	0	282	1
2025-01-10	$21.27	$25.00	97.4%	9.2%	5.9%	61.8%	0.0%	-19.9%	-15.7%	9.7K	-96.0K	-445	0.00	178.18	N/A	N/A	0	0	282	1
2025-01-13	$21.21	$25.00	129.1%	9.3%	5.9%	83.6%	21.8%	-20.8%	-16.1%	9.4K	-92.0K	-418	0.00	175.88	N/A	N/A	1	0	282	1
2025-01-14	$21.26	$25.00	150.4%	9.4%	5.9%	98.4%	0.0%	-21.1%	-16.3%	9.6K	-95.1K	-411	0.00	178.74	N/A	N/A	0	0	283	1
2025-01-15	$21.48	$25.00	34.7%	10.0%	7.1%	18.4%	0.0%	-21.2%	-17.4%	10.4K	-104.6K	-441	0.00	175.74	N/A	N/A	1	0	283	1
2025-01-16	$21.52	$25.00	45.1%	12.9%	7.1%	25.6%	0.0%	-21.4%	27.9%	10.6K	-104.3K	-430	0.00	177.44	N/A	N/A	0	28	284	1
2025-01-17	$21.52	$25.00	45.7%	13.1%	7.1%	26.0%	0.0%	-21.9%	-9.4%	8.5K	-89.7K	-446	0.56	176.03	N/A	N/A	114	64	284	29
2025-01-21	$21.57	$25.00	48.0%	13.8%	6.5%	27.6%	0.0%	-23.4%	-10.9%	8.6K	-87.1K	-386	0.00	176.89	N/A	N/A	0	0	228	1
2025-01-22	$21.55	$25.00	48.8%	14.0%	5.8%	28.2%	0.0%	-24.1%	-11.4%	8.6K	-91.5K	-415	0.00	177.84	N/A	N/A	0	0	228	1
2025-01-23	$21.48	$25.00	39.2%	11.2%	5.6%	21.5%	0.0%	-24.6%	-14.4%	8.4K	-88.3K	-399	0.00	178.51	N/A	N/A	0	0	228	1
2025-01-24	$21.51	$25.00	51.1%	14.6%	5.3%	29.7%	0.0%	-24.7%	-13.3%	8.4K	-79.3K	-367	0.00	177.22	N/A	N/A	0	0	228	1
2025-01-27	$21.66	$25.00	53.4%	15.3%	5.9%	31.3%	0.0%	-18.5%	-13.9%	8.8K	-94.7K	-382	0.00	178.01	N/A	N/A	0	0	228	1
2025-01-28	$21.66	$25.00	54.5%	15.6%	5.8%	27.4%	0.0%	-19.9%	-14.6%	8.8K	-93.5K	-375	0.00	176.47	N/A	N/A	0	0	228	1
2025-01-29	$21.66	$25.00	54.5%	15.6%	5.8%	21.3%	0.0%	-20.1%	-15.3%	8.8K	-93.8K	-368	0.00	178.06	N/A	N/A	0	0	228	1
2025-01-30	$21.69	$25.00	55.7%	16.0%	5.7%	22.3%	0.0%	-18.6%	-16.0%	8.9K	-95.8K	-361	0.00	178.65	N/A	N/A	0	0	228	1
2025-01-31	$21.62	$25.00	57.0%	16.3%	5.9%	23.4%	0.0%	-36.1%	-17.2%	8.7K	-87.6K	-325	0.00	176.88	N/A	N/A	0	0	228	1