SPXS Options History — August 2025

In August 2025, SPXS traded between $41.30 and $46.70. ATM implied volatility averaged 36.5%, placing in the 9.0% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded above realized volatility by 4.0% (HV 20d: 32.5%). Max pain ranged from $40.00 to $50.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.25.

Notable Days

  • 2025-08-01: Highest Volume — 8,619 contracts
  • 2025-08-19: Largest IV spike — 33.2% change
  • 2025-08-01: Highest IV Rank — 17.7%
  • 2025-08-01: Largest Expected Move — 13.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.12$41.30$46.70$46.70$42.20
Max Pain$40.71$40.00$50.00$45.00$40.00
ATM IV36.5%27.6%45.7%45.7%35.6%
Expected Move10.1%7.3%13.4%13.4%9.3%
HV 20d32.5%27.5%36.2%27.5%30.1%
HV 60d32.2%29.3%37.3%36.5%30.6%
IV Rank9.0%0.5%17.7%17.7%8.1%
IV Percentile17.1%0.8%48.0%48.0%11.5%
Term Structure11.0%-7.0%196.2%-3.2%1.3%
VWIV46.9%33.1%80.2%57.9%33.1%
Skew 25d-6.9%-36.8%22.7%-18.2%6.7%
Skew 10d36.5%0.4%67.0%0.4%59.6%
Call IV 25d50.8%45.5%70.5%63.9%47.9%
Put IV 25d44.0%33.3%69.5%45.8%54.6%
Bid-Ask Spread %128.7193.79152.00141.21152.00
Gamma HHI0.390.300.500.370.30
Net GEX1.6M826.3K2.7M1.7M941.8K
Net DEX-8.4M-34.7M3.4M-34.7M-1.5M
Net VEX-243.2K-284.2K-222.9K-284.2K-247.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.250.041.170.060.08
Total Volume2,817.3811,4558,6198,6192,356
Total OI41,514.8135,95646,85340,51245,590

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-08-01$46.70$45.0045.7%13.4%27.5%17.7%57.9%-18.2%-3.2%1.7M-34.7M-284.2K0.06141.21N/AN/A8,14047931,2149,298
2025-08-04$44.70$40.0037.2%10.5%29.7%9.6%55.0%-19.5%-1.8%1.5M-20.3M-236.3K0.10110.39N/AN/A2,64025827,6638,293
2025-08-05$45.30$40.0036.6%12.2%30.2%9.1%47.3%-20.9%0.9%1.7M-21.2M-256.8K0.13126.04N/AN/A1,51719928,6518,430
2025-08-06$44.20$40.0039.1%10.4%30.7%11.4%55.0%-36.8%-1.3%1.6M-13.0M-238.9K0.07129.22N/AN/A2,08814229,5688,539
2025-08-07$44.60$40.0033.8%10.1%30.7%6.4%80.2%-13.5%0.3%2.3M-16.9M-249.9K0.18127.23N/AN/A3,52263530,7918,592
2025-08-08$43.60$50.0041.3%10.0%31.3%13.4%49.7%-13.9%-0.6%1.4M-6.8M-222.9K0.14118.54N/AN/A2,37733932,3008,744
2025-08-11$43.70$40.0041.0%9.4%31.3%13.2%47.2%-13.1%-7.0%1.5M-11.4M-237.5K0.10112.36N/AN/A1,82118829,2578,435
2025-08-12$42.50$40.0027.6%9.3%32.6%0.5%46.9%-8.9%5.4%1.4M-7.1M-227.7K0.04125.55N/AN/A2,66410631,2678,490
2025-08-13$42.10$40.0030.2%9.9%32.6%3.0%43.4%-2.9%5.6%1.2M-4.8M-224.2K0.43118.53N/AN/A2,4741,06832,9188,454
2025-08-14$41.90$40.0029.0%9.2%32.2%1.9%50.7%6.9%6.6%1.3M-6.0M-233.9K1.17126.45N/AN/A2,3352,73234,5208,945
2025-08-15$42.10$40.0028.6%10.0%32.1%1.5%45.8%-3.0%18.6%1.6M-3.0M-239.2K0.17142.58N/AN/A1,33223236,59410,259
2025-08-18$42.20$40.0031.8%9.1%32.2%4.5%41.1%-5.3%-0.5%1.7M-2.8M-240.8K0.6393.79N/AN/A1,42589331,2039,654
2025-08-19$43.10$40.0042.4%12.1%33.3%14.5%46.5%-14.1%3.4%2.2M-4.4M-234.1K0.07142.78N/AN/A1,86413532,03210,091
2025-08-20$43.30$40.0043.7%12.5%32.9%15.8%46.1%-19.7%1.3%2.4M-11.3M-264.8K0.04135.42N/AN/A2,2068032,91710,141
2025-08-21$43.90$40.0044.6%12.9%33.2%16.6%42.8%-16.3%-3.1%2.7M-15.6M-273.5K0.09131.59N/AN/A1,68415633,10710,176
2025-08-22$42.10$40.0034.1%9.2%36.2%6.7%38.4%-3.5%6.9%1.5M-212.6K-240.4K0.16147.36N/AN/A3,79359433,38010,294
2025-08-25$42.20$40.0036.1%9.1%36.1%8.5%33.5%7.3%196.2%1.6M-880.0K-241.8K0.41124.26N/AN/A1,20849331,17010,258
2025-08-26$42.20$40.0037.3%9.3%36.0%9.7%38.9%6.5%5.6%1.6M219.9K-241.8K0.32132.19N/AN/A1,10435132,05010,524
2025-08-27$41.70$40.0036.0%7.6%35.7%8.5%43.2%14.8%-2.6%1.3M2.1M-238.1K0.35120.39N/AN/A1,36748532,34210,782
2025-08-28$41.30$40.0035.1%7.3%35.8%7.6%41.9%22.7%-0.7%826.3K3.4M-232.5K0.43144.96N/AN/A1,17351033,67611,202
2025-08-29$42.20$40.0035.6%9.3%30.1%8.1%33.1%6.7%1.3%941.8K-1.5M-247.6K0.08152.00N/AN/A2,19116534,28211,308