SPXS Options History — March 2025

In March 2025, SPXS traded between $64.40 and $76.20. ATM implied volatility averaged 59.4%, placing in the 39.0% IV rank vs the trailing year. The 30-day expected move averaged 17.9%. IV traded above realized volatility by 8.3% (HV 20d: 51.2%). Max pain ranged from $60.00 to $80.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.28.

Notable Days

  • 2025-03-04: Highest Volume — 6,965 contracts
  • 2025-03-10: Largest IV spike — 34.4% change
  • 2025-03-11: Highest IV Rank — 58.9%
  • 2025-03-11: Largest Expected Move — 24.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$69.46$64.40$76.20$65.00$71.10
Max Pain$62.50$60.00$80.00$60.00$60.00
ATM IV59.4%44.4%75.9%61.0%57.4%
Expected Move17.9%14.5%24.7%19.2%15.9%
HV 20d51.2%35.2%65.0%35.7%64.7%
HV 60d45.3%40.4%49.1%40.5%49.1%
IV Rank39.0%21.0%58.9%41.0%36.7%
IV Percentile89.6%63.9%99.2%96.8%90.1%
Term Structure-2.1%-9.6%3.7%-0.7%-0.2%
VWIV64.2%45.5%89.0%65.9%60.2%
Skew 25d-17.8%-41.0%14.9%-22.0%-22.1%
Skew 10d-11.6%-46.8%44.9%-37.7%-31.7%
Call IV 25d69.5%49.8%104.6%69.8%73.8%
Put IV 25d51.7%40.9%64.7%47.9%51.7%
Bid-Ask Spread %50.9011.5998.8065.7750.79
Gamma HHI0.320.210.580.240.40
Net GEX1.1M815.3K1.6M1.1M1.3M
Net DEX-40.0M-68.0M-18.2M-34.9M-35.9M
Net VEX-231.3K-241.8K-214.2K-214.2K-232.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.280.130.680.290.21
Total Volume3,485.5711,4696,9654,0123,605
Total OI23,108.61920,69225,70920,69220,859

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$65.00$60.0061.0%19.2%35.7%41.0%65.9%-22.0%-0.7%1.1M-34.9M-214.2K0.2965.77N/AN/A3,10091215,6675,025
2025-03-04$65.50$60.0054.5%18.3%35.3%33.1%67.0%-22.1%-9.6%1.1M-37.8M-227.1K0.3449.50N/AN/A5,1791,78615,9515,475
2025-03-05$64.40$60.0061.2%18.3%35.2%41.1%67.5%-7.3%-4.3%943.6K-29.8M-224.0K0.2847.20N/AN/A2,54570516,1046,467
2025-03-06$68.10$60.0072.7%22.1%39.2%55.1%77.5%-41.0%-4.4%1.2M-44.8M-234.8K0.1860.01N/AN/A3,67264416,5656,700
2025-03-07$67.20$60.0056.3%18.5%39.5%35.2%63.9%-16.8%-1.7%815.3K-40.8M-228.0K0.3652.11N/AN/A3,6841,33516,3317,058
2025-03-10$72.50$60.0075.6%24.2%46.2%58.6%89.0%14.9%-4.6%951.5K-50.8M-233.8K0.3249.03N/AN/A5,1851,66614,8426,238
2025-03-11$72.90$65.0075.9%24.7%44.6%58.9%85.4%-26.8%-9.0%1.0M-51.3M-239.7K0.2248.15N/AN/A3,11468415,8017,059
2025-03-12$72.80$65.0074.9%22.9%44.7%57.7%79.3%-10.8%-9.6%1.2M-52.1M-237.6K0.2211.59N/AN/A2,43752616,6297,413
2025-03-13$76.20$65.0066.5%22.3%46.3%47.5%77.7%-23.7%3.7%1.6M-68.0M-231.5K0.3817.65N/AN/A2,37689317,3287,629
2025-03-14$71.70$65.0058.6%17.5%50.8%38.1%67.6%-19.7%-0.9%956.7K-47.3M-240.1K0.3019.67N/AN/A2,41172417,1968,091
2025-03-17$69.10$60.0057.5%15.9%53.5%36.7%56.6%-21.3%-2.0%990.1K-33.3M-226.6K0.4940.00N/AN/A1,84090915,8757,040
2025-03-18$72.10$60.0058.3%15.6%54.6%37.7%58.5%-19.0%-4.7%1.2M-46.1M-241.8K0.1839.88N/AN/A1,52727416,5187,609
2025-03-19$68.90$60.0055.8%15.6%57.9%34.6%56.3%-19.3%3.3%904.2K-33.3M-231.2K0.2746.73N/AN/A1,50940116,6367,774
2025-03-20$70.10$0.0054.1%14.9%57.9%32.6%45.5%-17.6%-1.7%1.2M-39.0M-236.4K0.6898.80N/AN/A1,6211,10617,2937,800
2025-03-21$70.90$80.0052.9%15.1%56.2%31.2%61.8%-16.0%-0.1%1.4M-45.6M-236.0K0.1753.68N/AN/A2,55142617,7307,979
2025-03-24$66.60$70.0044.4%14.7%61.7%21.0%51.1%-20.4%2.7%997.5K-25.1M-222.5K0.1864.91N/AN/A2,30242415,3666,348
2025-03-25$65.50$60.0044.8%14.5%61.7%21.4%49.1%-14.9%-0.2%1.0M-18.2M-220.7K0.1463.18N/AN/A1,28818115,4996,422
2025-03-26$67.90$60.0052.1%14.7%62.7%30.2%53.3%-15.4%1.2%1.4M-27.9M-229.0K0.1658.44N/AN/A2,15535116,0146,461
2025-03-27$67.60$60.0052.7%14.8%61.0%30.9%59.8%-15.8%-0.4%1.6M-27.5M-230.0K0.1370.57N/AN/A1,75022316,5026,622
2025-03-28$72.60$60.0060.7%15.8%65.0%40.6%54.0%-16.8%-1.1%1.3M-51.0M-238.9K0.2861.28N/AN/A4,0571,11916,6746,691
2025-03-31$71.10$60.0057.4%15.9%64.7%36.7%60.2%-22.1%-0.2%1.3M-35.9M-232.5K0.2150.79N/AN/A2,97163414,6956,164