VAW Options History — March 2025

In March 2025, VAW traded between $187.14 and $194.82. ATM implied volatility averaged 19.3%, placing in the 55.2% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded above realized volatility by 1.6% (HV 20d: 17.7%). Max pain ranged from $196.00 to $205.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.25.

Notable Days

  • 2025-03-13: Highest Volume — 5 contracts
  • 2025-03-10: Largest IV spike — 22.1% change
  • 2025-03-10: Highest IV Rank — 88.3%
  • 2025-03-12: Largest Expected Move — 7.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$191.01$187.14$194.82$192.19$189.25
Max Pain$201.14$196.00$205.00$205.00$196.00
ATM IV19.3%15.5%25.3%18.2%20.9%
Expected Move5.7%4.6%7.9%5.2%5.4%
HV 20d17.7%14.4%20.0%14.4%19.7%
HV 60d15.2%14.3%16.0%14.3%15.6%
IV Rank55.2%34.1%88.3%49.2%64.3%
IV Percentile85.1%53.2%99.6%86.1%93.7%
Term Structure-0.5%-4.6%2.4%0.5%-4.6%
VWIV16.5%14.7%17.6%17.2%17.6%
Skew 25d3.8%-1.8%11.4%2.1%11.3%
Skew 10d1.0%-9.5%9.6%0.5%8.5%
Call IV 25d15.6%10.8%18.9%12.1%18.3%
Put IV 25d19.4%13.5%29.5%14.3%29.5%
Bid-Ask Spread %106.7788.86138.19102.6196.90
Gamma HHI0.260.230.300.270.28
Net GEX12.1K7.4K17.6K13.4K9.3K
Net DEX-35.7K-99.6K20.7K-68.9K20.7K
Net VEX-1.3K-1.5K-1.0K-1.5K-1.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.250.001.001.000.00
Total Volume0.7620520
Total OI46.14342504946

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$192.19$205.0018.2%5.2%14.4%49.2%0.0%2.1%0.5%13.4K-68.9K-1.5K1.00102.61N/AN/A113514
2025-03-04$190.58$205.0018.5%5.3%14.7%50.8%0.0%0.1%-0.3%12.5K-28.4K-1.4K0.00107.26N/AN/A103614
2025-03-05$194.82$205.0018.1%5.2%16.7%48.7%0.0%1.7%-0.2%15.4K-99.6K-1.5K0.00109.87N/AN/A003514
2025-03-06$193.63$205.0019.4%5.6%16.8%55.7%0.0%8.0%-0.9%14.1K-86.1K-1.5K0.00111.16N/AN/A003514
2025-03-07$193.90$205.0020.7%5.9%16.7%63.0%0.0%11.4%-0.5%14.3K-85.5K-1.5K0.00108.81N/AN/A003514
2025-03-10$189.34$205.0025.3%7.2%18.1%88.3%0.0%7.2%-1.7%9.3K-23.7K-1.4K1.00124.40N/AN/A113514
2025-03-11$189.44$205.0021.8%7.8%17.8%69.0%0.0%8.1%-2.3%9.3K-22.2K-1.3K0.00121.32N/AN/A003413
2025-03-12$188.74$205.0021.3%7.9%17.6%66.6%0.0%7.3%2.4%8.8K-9.9K-1.2K0.00125.24N/AN/A003413
2025-03-13$187.36$205.0022.7%6.8%17.6%73.8%0.0%6.3%-1.4%7.4K15.4K-1.2K0.00138.19N/AN/A503413
2025-03-14$189.88$205.0021.3%6.1%17.2%66.1%0.0%6.7%-1.7%8.5K-5.4K-1.2K0.00135.73N/AN/A002913
2025-03-17$192.75$200.0018.7%5.2%18.3%52.0%0.0%6.2%-0.1%11.7K-42.9K-1.2K0.0093.06N/AN/A202913
2025-03-18$191.94$200.0019.9%5.6%17.7%58.6%0.0%0.6%-0.9%14.7K-49.6K-1.2K0.0096.82N/AN/A003113
2025-03-19$193.47$200.0017.6%5.1%17.8%46.1%17.2%0.2%0.3%17.6K-58.1K-1.2K0.0088.86N/AN/A103113
2025-03-20$191.88$199.0018.2%5.3%17.9%49.1%0.0%1.1%0.5%15.6K-50.2K-1.2K0.00103.78N/AN/A003213
2025-03-21$188.88$199.0016.6%5.0%17.8%40.3%0.0%-0.6%0.8%10.4K17.9K-1.0K0.0095.23N/AN/A103213
2025-03-24$192.18$196.0015.5%4.6%19.0%34.1%0.0%1.4%0.2%13.0K-48.2K-1.2K0.00100.88N/AN/A003113
2025-03-25$191.42$196.0016.3%4.6%18.9%38.6%14.7%0.2%-0.7%13.5K-42.2K-1.2K0.0099.54N/AN/A103113
2025-03-26$191.25$196.0017.2%4.9%18.8%43.6%17.6%0.4%-0.1%14.0K-58.2K-1.2K0.0095.38N/AN/A013213
2025-03-27$191.23$196.0016.8%4.7%18.6%41.6%0.0%1.7%0.5%13.1K-28.4K-1.2K0.0096.49N/AN/A003214
2025-03-28$187.14$196.0020.2%5.4%20.0%60.4%0.0%-1.8%-0.7%7.6K3.5K-1.1K0.0090.74N/AN/A003214
2025-03-31$189.25$196.0020.9%5.4%19.7%64.3%0.0%11.3%-4.6%9.3K20.7K-1.1K0.0096.90N/AN/A003214