VAW Options History — July 2025

In July 2025, VAW traded between $195.38 and $204.74. ATM implied volatility averaged 16.6%, placing in the 11.0% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 0.9% (HV 20d: 15.7%). Max pain ranged from $193.00 to $195.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.10.

Notable Days

  • 2025-07-22: Highest Volume — 17 contracts
  • 2025-07-07: Largest IV spike — 25.8% change
  • 2025-07-07: Highest IV Rank — 19.2%
  • 2025-07-16: Largest Expected Move — 5.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$200.95$195.38$204.74$199.52$195.38
Max Pain$194.82$193.00$195.00$195.00$195.00
ATM IV16.6%13.9%20.2%16.2%13.9%
Expected Move4.7%4.0%5.4%4.6%4.0%
HV 20d15.7%14.9%17.0%14.9%15.8%
HV 60d18.2%14.1%31.6%31.6%15.3%
IV Rank11.0%5.4%19.2%12.2%5.4%
IV Percentile44.2%10.7%81.0%43.3%10.7%
Term Structure0.2%-1.5%2.8%-1.5%-0.8%
VWIV21.3%12.1%39.6%16.5%16.8%
Skew 25d2.3%-3.9%11.7%9.7%2.9%
Skew 10d5.2%-0.1%12.7%7.6%-0.1%
Call IV 25d15.9%9.9%22.1%11.5%18.1%
Put IV 25d18.2%13.1%27.3%21.2%21.0%
Bid-Ask Spread %112.83107.03120.34120.34114.86
Gamma HHI0.440.320.640.500.37
Net GEX54.4K34.7K89.8K34.7K47.3K
Net DEX-419.5K-620.2K-220.0K-334.7K-220.0K
Net VEX-1.4K-1.8K-1.2K-1.3K-1.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.100.000.330.000.25
Total Volume1.86401710
Total OI52.95538683868

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-07-01$199.52$195.0016.2%4.6%14.9%12.2%0.0%9.7%-1.5%34.7K-334.7K-1.3K0.00120.34N/AN/A10344
2025-07-02$201.93$195.0017.8%5.1%14.9%14.7%0.0%8.3%2.8%35.2K-389.1K-1.3K0.33118.39N/AN/A31354
2025-07-03$202.60$193.0016.1%4.6%14.9%11.6%0.0%11.7%0.8%37.3K-409.8K-1.4K0.00108.31N/AN/A00385
2025-07-07$199.99$193.0020.2%5.2%15.7%19.2%16.5%-0.5%-1.5%36.7K-375.1K-1.4K0.00107.03N/AN/A01385
2025-07-08$201.62$195.0018.2%5.0%15.9%15.5%39.6%2.9%0.8%36.8K-390.0K-1.4K0.00108.83N/AN/A01386
2025-07-09$202.28$195.0016.6%4.8%15.7%12.6%0.0%0.6%0.9%38.4K-402.0K-1.3K0.00110.40N/AN/A00387
2025-07-10$204.16$195.0016.0%4.6%15.9%9.4%0.0%1.6%1.0%38.3K-453.8K-1.3K0.00110.91N/AN/A00387
2025-07-11$202.36$195.0018.0%5.2%15.8%13.1%0.0%1.0%-0.6%37.6K-405.3K-1.3K0.00110.13N/AN/A00387
2025-07-14$201.28$195.0017.9%5.1%16.0%12.9%0.0%-0.3%-0.5%38.6K-389.0K-1.3K0.00111.67N/AN/A100387
2025-07-15$198.03$195.0018.3%5.2%16.1%13.7%0.0%-2.0%0.6%56.7K-400.1K-1.3K0.00111.94N/AN/A00487
2025-07-16$198.10$195.0018.7%5.4%15.8%14.5%0.0%1.8%-0.7%58.9K-371.3K-1.3K0.00107.67N/AN/A00487
2025-07-17$199.49$195.0017.2%4.9%15.6%11.7%0.0%0.3%-0.9%68.8K-429.5K-1.3K0.00114.67N/AN/A00487
2025-07-18$199.64$195.0016.4%4.7%15.5%10.1%0.0%-0.3%0.3%74.0K-440.0K-1.2K0.00115.90N/AN/A00487
2025-07-21$200.99$195.0015.6%4.5%15.2%8.6%12.1%4.7%0.4%41.3K-359.4K-1.2K0.00116.05N/AN/A10377
2025-07-22$203.61$195.0016.6%4.8%15.3%10.5%16.8%-3.9%1.0%45.3K-415.9K-1.2K0.00110.70N/AN/A170387
2025-07-23$204.14$195.0015.0%4.3%15.0%7.5%0.0%7.2%1.8%80.0K-615.9K-1.5K0.25112.46N/AN/A41557
2025-07-24$202.16$195.0016.2%4.7%15.2%9.8%0.0%-0.4%-1.0%75.0K-557.3K-1.8K0.00114.06N/AN/A01598
2025-07-25$204.74$195.0016.5%4.7%15.6%10.3%0.0%-0.1%-1.5%83.0K-620.2K-1.8K0.00111.33N/AN/A00599
2025-07-28$201.75$195.0014.9%4.3%16.8%7.4%0.0%3.7%0.5%85.9K-515.4K-1.7K0.00114.58N/AN/A00599
2025-07-29$200.64$195.0013.9%4.0%17.0%5.5%0.0%0.3%2.7%89.8K-441.6K-1.6K0.00115.12N/AN/A00599
2025-07-30$196.53$195.0014.3%4.1%16.5%6.2%0.0%0.4%-0.3%57.9K-293.8K-1.5K0.00116.85N/AN/A00599
2025-07-31$195.38$195.0013.9%4.0%15.8%5.4%0.0%2.9%-0.8%47.3K-220.0K-1.3K0.00114.86N/AN/A00599