SPXS Options History — February 2025

In February 2025, SPXS traded between $55.80 and $63.60. ATM implied volatility averaged 44.9%, placing in the 21.5% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded above realized volatility by 9.4% (HV 20d: 35.5%). Max pain ranged from $50.00 to $60.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.25.

Notable Days

  • 2025-02-03: Highest Volume — 5,386 contracts
  • 2025-02-10: Largest IV spike — 36.2% change
  • 2025-02-27: Highest IV Rank — 39.7%
  • 2025-02-27: Largest Expected Move — 16.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$58.61$55.80$63.60$59.50$62.50
Max Pain$51.58$50.00$60.00$55.00$60.00
ATM IV44.9%33.8%60.0%47.5%49.5%
Expected Move13.1%12.0%16.9%14.2%14.0%
HV 20d35.5%29.2%44.1%44.1%33.4%
HV 60d38.8%37.6%42.1%42.1%39.7%
IV Rank21.5%8.1%39.7%24.7%27.1%
IV Percentile66.6%13.9%96.0%82.9%84.9%
Term Structure-2.9%-35.0%17.3%-1.6%-1.3%
VWIV46.9%40.7%58.5%50.4%58.5%
Skew 25d-11.0%-36.1%29.3%-36.1%-14.8%
Skew 10d-6.2%-31.3%139.0%-30.3%-24.0%
Call IV 25d50.7%32.6%63.9%61.3%57.3%
Put IV 25d39.7%20.9%93.2%25.2%42.6%
Bid-Ask Spread %87.8559.60119.67104.2091.34
Gamma HHI0.500.250.720.510.25
Net GEX1.6M967.6K2.6M1.5M967.6K
Net DEX-25.3M-40.6M-13.9M-29.7M-34.1M
Net VEX-180.0K-206.8K-157.7K-196.7K-206.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.250.080.620.080.22
Total Volume2,803.0531,2845,3865,3863,358
Total OI23,614.05319,96827,36921,02622,773

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$59.50$55.0047.5%14.2%44.1%24.7%50.4%-36.1%-1.6%1.5M-29.7M-196.7K0.08104.20N/AN/A4,98140517,3133,713
2025-02-04$58.40$55.0044.2%12.9%42.7%20.7%40.7%-27.0%3.5%1.5M-24.0M-187.3K0.62109.41N/AN/A1,52794117,9453,937
2025-02-05$58.00$55.0045.4%12.0%42.5%22.1%41.9%-16.5%-20.0%1.6M-22.1M-176.8K0.10119.67N/AN/A2,88529418,4253,924
2025-02-06$57.50$50.0033.9%12.2%40.3%8.3%43.4%-10.2%17.3%1.8M-23.4M-182.7K0.1364.63N/AN/A1,43918220,1494,121
2025-02-07$58.80$50.0041.0%12.2%41.4%16.9%47.8%-13.0%-3.5%2.1M-29.6M-184.7K0.33102.29N/AN/A1,92862821,2474,105
2025-02-10$57.50$50.0055.9%12.5%38.0%34.8%44.1%10.5%-35.0%2.0M-22.6M-176.9K0.5198.35N/AN/A1,39070819,6813,923
2025-02-11$57.60$50.0044.2%12.2%38.0%20.7%47.7%-5.3%-0.7%2.2M-24.9M-179.6K0.22102.67N/AN/A1,04823620,5313,893
2025-02-12$58.30$50.0041.1%12.0%38.5%16.9%42.6%-13.3%1.0%2.6M-28.9M-182.5K0.5896.56N/AN/A1,7691,02120,7553,858
2025-02-13$56.40$50.0033.8%12.0%31.9%8.1%42.1%-16.2%-3.4%1.6M-16.3M-161.7K0.24103.18N/AN/A1,62938620,7234,036
2025-02-14$56.30$50.0036.2%12.6%31.7%11.1%44.3%-3.2%13.5%1.7M-17.8M-166.4K0.11102.53N/AN/A1,24614022,0544,208
2025-02-18$56.30$50.0043.6%12.8%30.6%20.0%43.2%-11.1%-1.6%1.8M-17.3M-162.6K0.1674.57N/AN/A1,64025621,1273,611
2025-02-19$55.80$50.0044.4%12.7%29.8%20.9%45.0%-12.0%-7.1%1.2M-13.9M-159.6K0.2383.92N/AN/A1,38531722,0083,752
2025-02-20$56.40$50.0041.1%12.0%29.2%16.9%42.5%-11.0%-5.7%974.7K-18.0M-157.7K0.1480.13N/AN/A1,97428022,6973,873
2025-02-21$59.20$50.0046.3%13.0%34.0%23.2%47.4%-13.6%1.4%1.1M-28.5M-181.5K0.1866.53N/AN/A4,32479323,3444,025
2025-02-24$59.60$50.0049.6%13.6%34.0%27.2%47.5%-17.6%-1.2%1.3M-27.0M-178.1K0.1059.60N/AN/A2,27523916,1983,770
2025-02-25$61.10$50.0044.1%13.8%31.6%20.6%50.6%-15.4%-7.0%1.5M-33.4M-191.4K0.2061.03N/AN/A3,71574016,7673,909
2025-02-26$60.80$50.0050.7%14.4%29.4%28.6%56.9%-12.8%-6.0%1.1M-28.9M-188.0K0.3379.07N/AN/A1,55551016,2454,378
2025-02-27$63.60$55.0060.0%16.9%32.7%39.7%54.7%29.3%2.2%1.3M-40.6M-198.7K0.2569.37N/AN/A4,1031,01116,8154,834
2025-02-28$62.50$60.0049.5%14.0%33.4%27.1%58.5%-14.8%-1.3%967.6K-34.1M-206.8K0.2291.34N/AN/A2,75360517,2715,502