VAW Options History — April 2025

In April 2025, VAW traded between $162.05 and $191.00. ATM implied volatility averaged 30.5%, placing in the 48.6% IV rank vs the trailing year. The 30-day expected move averaged 8.2%. IV traded below realized volatility by 14.7% (HV 20d: 45.2%). Max pain ranged from $191.00 to $196.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 2 of 21 days. Put/call ratio averaged 3.44.

Notable Days

  • 2025-04-30: Highest Volume — 26 contracts
  • 2025-04-07: Largest IV spike — 66.4% change
  • 2025-04-04: Highest IV Rank — 100.0%
  • 2025-04-08: Largest Expected Move — 13.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$179.05$162.05$191.00$189.07$184.84
Max Pain$194.76$191.00$196.00$196.00$191.00
ATM IV30.5%17.7%64.5%19.5%24.1%
Expected Move8.2%5.3%13.3%5.3%6.9%
HV 20d45.2%18.1%54.6%19.5%54.1%
HV 60d28.9%15.6%33.7%15.6%33.7%
IV Rank48.6%24.4%100.0%56.5%26.7%
IV Percentile95.8%78.2%100.0%90.1%92.5%
Term Structure-3.8%-13.2%0.2%0.2%-1.5%
VWIV25.8%13.4%33.5%33.5%13.4%
Skew 25d6.7%-2.4%24.9%1.2%5.3%
Skew 10d6.1%-10.1%22.0%-2.0%-1.2%
Call IV 25d23.8%15.0%44.9%19.1%23.9%
Put IV 25d30.5%20.3%46.0%20.3%29.2%
Bid-Ask Spread %108.2796.15129.3997.76116.33
Gamma HHI0.210.170.280.260.25
Net GEX3.1K-15712.4K9.6K6.6K
Net DEX76.6K-29.3K151.1K2.0K-29.3K
Net VEX-934-1.4K-541-1.1K-1.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.440.0025.000.0025.00
Total Volume3.238026026
Total OI52.57146664666

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$189.07$196.0019.5%5.3%19.5%56.5%0.0%1.2%0.2%9.6K2.0K-1.1K0.0097.76N/AN/A003214
2025-04-02$191.00$196.0017.7%5.4%18.1%46.6%0.0%6.8%0.1%12.4K-18.0K-1.1K0.0096.15N/AN/A003214
2025-04-03$182.49$196.0027.1%6.7%24.0%98.7%0.0%7.6%-1.1%3.3K76.3K-9120.0097.32N/AN/A003214
2025-04-04$172.75$196.0032.0%8.6%30.2%100.0%0.0%2.1%-5.0%1.1K139.8K-6670.00105.61N/AN/A003214
2025-04-07$168.06$196.0053.3%11.2%30.5%100.0%0.0%5.4%-8.0%926149.5K-5680.00108.98N/AN/A203214
2025-04-08$162.05$196.0064.5%13.3%32.2%100.0%0.0%-0.6%-13.2%898151.1K-5410.00113.68N/AN/A203314
2025-04-09$178.23$196.0028.8%8.2%48.8%35.3%0.0%19.5%-3.4%4.5K85.3K-8400.00129.39N/AN/A033514
2025-04-10$170.92$196.0040.1%11.5%50.7%55.8%0.0%13.5%-9.1%546144.6K-6820.00109.16N/AN/A003516
2025-04-11$177.87$196.0033.9%9.7%52.8%44.6%33.5%24.9%-6.7%3.4K96.1K-8800.00119.41N/AN/A013516
2025-04-14$180.16$196.0026.3%7.6%52.7%30.9%26.8%8.4%-1.8%3.0K113.2K-8141.00105.87N/AN/A223517
2025-04-15$178.52$196.0026.3%7.5%52.7%30.8%0.0%1.5%-2.3%-110144.9K-7870.00107.00N/AN/A403419
2025-04-16$176.47$195.0031.1%8.9%52.6%39.4%0.0%9.5%-4.6%1.6K95.3K-9800.0099.64N/AN/A003817
2025-04-17$178.48$195.0027.9%8.0%52.9%33.8%0.0%9.1%-0.1%2.4K85.5K-1.0K0.00103.62N/AN/A003817
2025-04-21$174.79$195.0029.4%8.4%53.1%36.4%26.9%9.2%-1.7%158108.8K-9131.50101.38N/AN/A233616
2025-04-22$179.54$195.0026.5%7.6%53.7%31.2%0.0%4.3%-1.4%-15788.0K-9460.00108.17N/AN/A003817
2025-04-23$179.77$195.0029.6%8.5%53.7%36.8%0.0%-2.4%-7.1%3679.5K-9600.00108.27N/AN/A003817
2025-04-24$184.21$195.0027.1%7.8%54.6%32.2%28.3%8.9%-4.9%3.6K27.6K-1.1K0.00105.63N/AN/A103817
2025-04-25$182.58$191.0025.7%7.4%54.6%29.7%0.0%2.4%-3.4%2.9K44.3K-9990.00110.55N/AN/A003917
2025-04-28$183.41$191.0026.8%7.7%54.2%31.7%13.4%0.9%-4.2%1.6K45.8K-9560.00112.85N/AN/A2003917
2025-04-29$184.91$191.0022.8%6.5%54.1%24.4%0.0%2.5%-1.8%5.8K-22.4K-1.4K0.00116.80N/AN/A004917
2025-04-30$184.84$191.0024.1%6.9%54.1%26.7%0.0%5.3%-1.5%6.6K-29.3K-1.4K25.00116.33N/AN/A1254917