SPMB Options History — February 2025

In February 2025, SPMB traded between $21.52 and $22.13. ATM implied volatility averaged 41.7%, placing in the 13.2% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded above realized volatility by 36.2% (HV 20d: 5.5%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 18 of 19 trading days. Term structure was in contango for 0 of 19 days. Put/call ratio averaged 0.63.

Notable Days

2025-02-12: Highest Volume — 347 contracts
2025-02-12: Largest IV drop — 69.7% change
2025-02-11: Highest IV Rank — 43.0%
2025-02-05: Largest Expected Move — 18.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$21.77	$21.52	$22.13	$21.59	$22.13
Max Pain	$25.00	$25.00	$25.00	$25.00	$25.00
ATM IV	41.7%	23.6%	81.6%	60.2%	29.1%
Expected Move	10.1%	6.8%	18.3%	17.3%	8.3%
HV 20d	5.5%	4.9%	6.1%	5.9%	5.6%
HV 60d	5.9%	5.6%	6.0%	6.0%	5.9%
IV Rank	13.2%	0.0%	43.0%	25.9%	4.2%
IV Percentile	29.4%	0.0%	87.7%	65.9%	5.2%
Term Structure	-10.2%	-22.3%	-4.8%	-19.6%	-8.4%
Skew 25d	-4.8%	-37.0%	52.3%	-30.8%	52.3%
Skew 10d	1.6%	-38.6%	46.2%	-28.2%	46.2%
Call IV 25d	40.8%	27.9%	76.5%	76.5%	40.7%
Put IV 25d	36.0%	7.9%	92.9%	45.7%	92.9%
Bid-Ask Spread %	157.86	136.81	178.49	176.59	158.41
Gamma HHI	0.70	0.43	0.95	0.91	0.56
Net GEX	9.2K	-17.1K	18.3K	8.8K	11.1K
Net DEX	-78.1K	-175.7K	64.9K	-82.3K	-80.0K
Net VEX	-412	-750	-138	-311	-378
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.63	0.00	4.42	0.00	0.00
Total Volume	39.053	0	347	0	0
Total OI	498.526	184	923	229	269

Daily Data (19 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
2025-02-03	$21.59	$25.00	60.2%	17.3%	5.9%	25.9%	0.0%	-30.8%	-19.6%	8.8K	-82.3K	-311	0.00	176.59	N/A	N/A	0	0	228	1
2025-02-04	$21.62	$25.00	62.6%	17.9%	5.8%	27.8%	0.0%	-20.9%	-21.0%	9.0K	-93.1K	-330	0.00	177.61	N/A	N/A	163	0	228	1
2025-02-05	$21.74	$25.00	63.7%	18.3%	6.0%	28.7%	0.0%	-12.3%	-22.3%	15.8K	-175.7K	-692	0.00	176.21	N/A	N/A	10	0	391	1
2025-02-06	$21.71	$25.00	65.8%	11.7%	6.0%	30.4%	0.0%	-37.0%	-11.0%	16.2K	-149.1K	-611	0.00	172.02	N/A	N/A	1	0	401	1
2025-02-07	$21.66	$25.00	68.2%	11.8%	6.1%	32.3%	0.0%	-27.4%	-11.2%	15.9K	-144.5K	-599	0.00	176.23	N/A	N/A	0	0	402	1
2025-02-10	$21.68	$25.00	76.0%	12.1%	5.5%	38.6%	0.0%	9.7%	-12.2%	15.8K	-152.7K	-600	0.00	177.80	N/A	N/A	0	0	402	1
2025-02-11	$21.63	$25.00	81.6%	12.4%	5.4%	43.0%	0.0%	21.6%	-12.7%	15.7K	-169.9K	-605	0.00	178.49	N/A	N/A	0	0	402	1
2025-02-12	$21.52	$25.00	24.7%	7.1%	5.8%	0.0%	0.0%	1.0%	-7.4%	7.5K	-30.5K	-195	4.42	151.39	N/A	N/A	64	283	402	1
2025-02-13	$21.63	$25.00	24.2%	6.9%	4.9%	0.0%	0.0%	-9.1%	-6.7%	-17.1K	64.9K	-553	0.00	136.81	N/A	N/A	136	0	503	284
2025-02-14	$21.73	$25.00	23.6%	6.8%	5.1%	0.0%	0.0%	0.6%	-6.6%	8.9K	-97.8K	-750	0.00	149.48	N/A	N/A	0	0	639	284
2025-02-18	$21.64	$25.00	26.1%	7.5%	5.4%	1.9%	0.0%	0.6%	-8.1%	5.4K	-58.6K	-531	0.00	143.54	N/A	N/A	0	0	639	284
2025-02-19	$21.69	$25.00	25.5%	7.3%	5.4%	1.5%	0.0%	-12.1%	-7.8%	6.1K	-69.9K	-404	0.00	139.71	N/A	N/A	0	0	639	284
2025-02-20	$21.73	$25.00	25.9%	7.4%	5.4%	1.8%	0.0%	0.5%	-4.8%	8.8K	-94.3K	-389	0.00	151.00	N/A	N/A	0	0	639	284
2025-02-21	$21.84	$25.00	25.9%	7.4%	5.4%	1.7%	0.0%	-14.9%	-5.8%	18.3K	-22.0K	-138	0.00	146.33	N/A	N/A	0	0	639	284
2025-02-24	$21.87	$25.00	27.3%	7.8%	5.4%	2.9%	0.0%	7.5%	-6.6%	6.0K	-27.8K	-166	0.00	146.25	N/A	N/A	31	0	183	1
2025-02-25	$22.02	$25.00	27.3%	7.8%	5.4%	2.9%	0.0%	-20.1%	-6.8%	6.1K	-24.5K	-150	0.00	147.42	N/A	N/A	54	0	214	1
2025-02-26	$22.07	$25.00	27.3%	7.8%	5.4%	2.8%	0.0%	0.1%	-7.0%	8.3K	-38.3K	-217	0.00	147.00	N/A	N/A	0	0	268	1
2025-02-27	$22.04	$25.00	27.9%	8.0%	5.5%	3.3%	0.0%	0.1%	-7.5%	8.0K	-37.1K	-206	0.00	147.10	N/A	N/A	0	0	268	1
2025-02-28	$22.13	$25.00	29.1%	8.3%	5.6%	4.2%	0.0%	52.3%	-8.4%	11.1K	-80.0K	-378	0.00	158.41	N/A	N/A	0	0	268	1