SPXS Options History — April 2025

In April 2025, SPXS traded between $65.60 and $101.60. ATM implied volatility averaged 85.4%, placing in the 57.6% IV rank vs the trailing year. The 30-day expected move averaged 24.4%. IV traded below realized volatility by 55.4% (HV 20d: 140.8%). Max pain ranged from $60.00 to $70.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.23.

Notable Days

  • 2025-04-04: Highest Volume — 13,915 contracts
  • 2025-04-10: Largest IV spike — 87.6% change
  • 2025-04-04: Highest IV Rank — 100.0%
  • 2025-04-08: Largest Expected Move — 38.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$76.04$65.60$101.60$70.80$66.60
Max Pain$67.86$60.00$70.00$60.00$65.00
ATM IV85.4%58.1%132.7%58.2%70.2%
Expected Move24.4%16.0%38.6%16.5%19.5%
HV 20d140.8%64.7%170.3%64.7%168.3%
HV 60d88.7%48.7%104.4%49.1%104.4%
IV Rank57.6%35.3%100.0%37.6%40.8%
IV Percentile95.3%89.3%100.0%91.3%91.3%
Term Structure-1.6%-18.5%23.5%-0.8%0.7%
VWIV89.4%57.1%124.3%69.8%74.6%
Skew 25d-28.2%-56.4%44.4%-20.4%-21.7%
Skew 10d-42.9%-147.6%12.1%-39.3%-46.1%
Call IV 25d109.1%71.9%192.2%71.9%84.9%
Put IV 25d80.9%47.4%184.2%51.5%63.3%
Bid-Ask Spread %50.9035.2859.3349.0359.33
Gamma HHI0.190.090.340.340.20
Net GEX980.4K572.3K2.0M1.3M1.2M
Net DEX-40.3M-98.2M-15.6M-36.4M-25.8M
Net VEX-239.9K-259.7K-226.9K-236.4K-248.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.230.140.430.170.17
Total Volume6,400.0952,29313,9152,2934,037
Total OI25,003.33320,35229,12221,99627,597

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$70.80$60.0058.2%16.5%64.7%37.6%69.8%-20.4%-0.8%1.3M-36.4M-236.4K0.1749.03N/AN/A1,96432915,5476,449
2025-04-02$69.10$60.0058.1%16.0%65.1%37.5%57.1%-25.7%-2.7%1.4M-31.9M-230.7K0.2853.96N/AN/A3,38596316,6486,449
2025-04-03$78.80$60.0089.4%21.2%77.5%75.2%68.7%-27.1%-4.9%2.0M-76.0M-242.2K0.1643.31N/AN/A7,5161,22818,1887,082
2025-04-04$90.20$70.00113.3%29.9%89.3%100.0%104.5%-50.3%5.0%1.2M-97.3M-242.0K0.2152.44N/AN/A11,4922,42316,2767,771
2025-04-07$95.40$70.00132.7%36.3%87.7%100.0%121.8%-47.9%-6.2%631.3K-81.4M-231.4K0.2938.97N/AN/A6,8142,00913,3797,940
2025-04-08$101.60$70.00121.4%38.6%89.4%89.3%124.3%-44.0%-18.5%761.9K-98.2M-256.9K0.2440.64N/AN/A9,7092,30314,9518,839
2025-04-09$71.70$70.0065.1%21.9%157.6%36.0%88.2%-36.2%23.5%572.3K-19.0M-238.6K0.4357.21N/AN/A8,9983,84216,4919,861
2025-04-10$80.00$70.00122.1%34.9%161.6%89.9%122.0%-56.4%0.2%959.0K-50.1M-259.7K0.3554.08N/AN/A7,0012,42918,6269,603
2025-04-11$73.80$70.00102.6%26.8%162.8%71.5%104.6%44.4%-13.0%662.5K-23.7M-245.1K0.3635.28N/AN/A4,3591,56818,8809,959
2025-04-14$70.80$70.0078.6%22.4%163.0%48.8%86.1%-37.1%0.3%819.5K-19.7M-226.9K0.2554.20N/AN/A3,53888416,0838,276
2025-04-15$72.40$70.0074.2%21.2%162.4%44.6%90.6%-38.8%-1.3%1.2M-25.3M-231.2K0.3055.75N/AN/A2,44972317,4028,509
2025-04-16$78.30$70.0093.5%26.8%163.8%62.8%95.7%-36.4%5.3%1.3M-48.7M-246.2K0.1854.86N/AN/A5,43799018,6358,918
2025-04-17$76.70$70.0086.3%25.1%164.0%56.0%88.4%-32.2%-6.7%663.9K-40.4M-238.3K0.2052.49N/AN/A3,30565119,3338,988
2025-04-21$83.40$70.0095.5%27.8%166.4%64.8%97.9%-29.6%-2.8%1.1M-48.7M-246.7K0.1557.52N/AN/A4,70169514,2866,066
2025-04-22$76.60$70.0084.7%23.9%167.8%54.6%91.7%-16.3%-1.7%718.9K-29.0M-236.0K0.1643.97N/AN/A4,35468314,0926,466
2025-04-23$72.90$70.0078.1%24.9%168.9%48.4%86.5%-14.7%-5.3%759.9K-22.3M-235.0K0.1751.21N/AN/A5,89699116,2386,560
2025-04-24$68.30$70.0075.1%22.0%170.2%45.5%82.8%-28.6%-4.1%670.4K-16.5M-234.6K0.2356.95N/AN/A4,7121,10718,9816,619
2025-04-25$67.20$70.0064.3%18.6%170.3%35.3%73.7%-24.1%0.2%766.0K-15.6M-237.4K0.1453.57N/AN/A4,37061122,1536,969
2025-04-28$66.70$65.0064.8%19.3%168.2%35.8%75.3%-25.3%-1.0%962.3K-21.4M-238.6K0.1655.23N/AN/A2,44839318,6125,784
2025-04-29$65.60$65.0065.3%19.3%168.2%36.2%73.3%-24.3%-0.8%924.2K-19.5M-235.4K0.1648.92N/AN/A2,67242319,6535,911
2025-04-30$66.60$65.0070.2%19.5%168.3%40.8%74.6%-21.7%0.7%1.2M-25.8M-248.7K0.1759.33N/AN/A3,44359421,4786,119