SPYX Options History — April 2025

In April 2025, SPYX traded between $40.28 and $46.28. ATM implied volatility averaged 35.7%, placing in the 41.3% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 8.9% (HV 20d: 44.6%). Max pain ranged from $41.00 to $46.00. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 1.66.

Notable Days

2025-04-28: Highest Volume — 99 contracts
2025-04-25: Largest IV spike — 63.6% change
2025-04-07: Highest IV Rank — 100.0%
2025-04-07: Largest Expected Move — 12.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.86	$40.28	$46.28	$45.89	$45.33
Max Pain	$42.90	$41.00	$46.00	$41.00	$45.00
ATM IV	35.7%	22.1%	76.8%	27.8%	26.4%
Expected Move	8.7%	5.3%	12.2%	5.5%	7.6%
HV 20d	44.6%	21.7%	53.6%	21.7%	52.9%
HV 60d	28.5%	16.4%	33.2%	16.6%	33.2%
IV Rank	41.3%	17.5%	100.0%	37.8%	23.9%
IV Percentile	87.3%	59.5%	100.0%	88.9%	79.4%
Term Structure	-4.2%	-17.2%	5.4%	-10.3%	-0.6%
VWIV	29.7%	21.6%	35.1%	21.6%	26.1%
Skew 25d	7.7%	-5.9%	14.5%	7.9%	9.8%
Skew 10d	4.8%	-11.0%	12.5%	5.1%	4.6%
Call IV 25d	25.0%	13.7%	70.2%	17.4%	19.5%
Put IV 25d	32.7%	20.0%	64.3%	25.4%	29.4%
Bid-Ask Spread %	147.79	126.37	165.10	148.00	142.64
Gamma HHI	0.26	0.16	0.43	0.33	0.31
Net GEX	723	-2.6K	4.5K	-1.4K	-274
Net DEX	-394	-55.4K	53.2K	4.3K	-47.8K
Net VEX	-249	-368	-156	-209	-353
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.66	0.00	8.00	5.00	8.00
Total Volume	10.238	0	99	0	0
Total OI	71.524	42	145	49	145

Daily Data (21 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
2025-04-01	$45.89	$41.00	27.8%	5.5%	21.7%	37.8%	0.0%	7.9%	-10.3%	-1.4K	4.3K	-209	0.00	148.00	N/A	N/A	0	0	25	24
2025-04-02	$46.28	$41.00	29.4%	5.3%	21.8%	41.2%	0.0%	6.3%	5.1%	-1.8K	4.3K	-213	5.00	149.13	N/A	N/A	1	5	25	24
2025-04-03	$44.14	$41.00	38.1%	7.9%	26.5%	59.3%	0.0%	4.6%	-7.3%	-2.6K	53.2K	-254	0.00	165.10	N/A	N/A	0	7	26	29
2025-04-04	$42.05	$41.00	53.8%	10.0%	30.8%	92.1%	0.0%	10.4%	-9.5%	-746	42.6K	-181	0.00	156.53	N/A	N/A	1	0	26	21
2025-04-07	$41.18	$41.00	76.8%	12.2%	30.3%	100.0%	0.0%	14.5%	-10.9%	-401	45.9K	-156	0.43	159.60	N/A	N/A	23	10	26	21
2025-04-08	$40.28	$41.00	69.6%	11.3%	30.8%	89.2%	0.0%	10.0%	-5.8%	589	44.2K	-202	0.00	140.13	N/A	N/A	2	0	48	26
2025-04-09	$44.45	$41.00	37.7%	10.8%	48.4%	41.0%	0.0%	9.8%	-5.4%	3.3K	-20.1K	-260	1.00	162.94	N/A	N/A	2	2	50	26
2025-04-10	$42.72	$41.00	35.8%	10.3%	50.0%	38.2%	0.0%	5.7%	-8.4%	1.4K	8.3K	-261	1.00	143.67	N/A	N/A	1	1	50	28
2025-04-11	$43.89	$41.00	38.5%	11.0%	50.5%	42.2%	0.0%	8.1%	-17.2%	2.5K	-3.7K	-246	0.11	160.94	N/A	N/A	9	1	51	29
2025-04-14	$44.50	$41.00	24.4%	7.0%	50.6%	21.0%	21.6%	10.1%	-6.4%	4.5K	-19.7K	-262	0.00	144.18	N/A	N/A	0	3	60	30
2025-04-15	$44.19	$44.00	25.9%	7.4%	50.4%	23.2%	0.0%	7.2%	-3.6%	3.8K	-5.4K	-245	0.00	142.85	N/A	N/A	0	0	61	31
2025-04-16	$42.92	$44.00	31.4%	9.0%	50.9%	31.5%	0.0%	5.0%	-7.4%	203	31.8K	-273	3.00	151.04	N/A	N/A	1	3	61	39
2025-04-17	$43.28	$44.00	28.4%	8.1%	51.1%	27.0%	0.0%	6.8%	3.3%	1.3K	25.0K	-242	0.00	141.08	N/A	N/A	0	12	62	37
2025-04-21	$42.05	$44.00	37.1%	10.6%	51.9%	40.1%	35.1%	3.6%	-6.7%	-472	7.6K	-230	0.00	126.37	N/A	N/A	0	2	26	16
2025-04-22	$43.21	$44.00	27.6%	7.9%	52.5%	25.7%	0.0%	12.3%	-1.1%	-923	619	-240	0.00	137.88	N/A	N/A	3	0	26	18
2025-04-23	$43.92	$44.00	26.7%	7.7%	53.0%	24.4%	32.5%	11.8%	-2.8%	-152	-8.6K	-232	3.00	136.67	N/A	N/A	2	6	26	18
2025-04-24	$44.86	$46.00	25.6%	7.4%	53.6%	22.8%	0.0%	9.6%	1.0%	1.0K	-29.4K	-279	0.00	138.59	N/A	N/A	3	0	28	17
2025-04-25	$45.11	$45.00	41.9%	12.0%	53.6%	47.4%	33.2%	-5.9%	1.0%	3.1K	-55.4K	-284	0.00	163.96	N/A	N/A	16	0	38	17
2025-04-28	$45.23	$46.00	22.1%	6.3%	53.0%	17.5%	26.1%	6.8%	5.4%	2.0K	-34.8K	-246	8.00	144.35	N/A	N/A	11	88	29	17
2025-04-29	$45.49	$45.00	24.8%	7.1%	52.9%	21.6%	0.0%	6.6%	-1.2%	181	-51.4K	-368	0.00	147.88	N/A	N/A	0	0	40	105
2025-04-30	$45.33	$45.00	26.4%	7.6%	52.9%	23.9%	0.0%	9.8%	-0.6%	-274	-47.8K	-353	0.00	142.64	N/A	N/A	0	0	40	105