A Options History — March 2025

In March 2025, A traded between $116.80 and $126.96. ATM implied volatility averaged 29.9%, placing in the 55.6% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded above realized volatility by 0.7% (HV 20d: 29.2%). Max pain ranged from $135.00 to $135.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 5.06.

Notable Days

  • 2025-03-31: Highest Volume — 2,599 contracts
  • 2025-03-10: Largest IV spike — 24.4% change
  • 2025-03-10: Highest IV Rank — 100.0%
  • 2025-03-10: Largest Expected Move — 10.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$121.78$116.80$126.96$125.86$117.52
Max Pain$135.00$135.00$135.00$135.00$135.00
ATM IV29.9%25.1%37.8%29.1%32.3%
Expected Move8.6%7.4%10.8%8.4%8.4%
HV 20d29.2%24.8%32.3%24.9%25.6%
HV 60d25.3%24.3%26.0%24.3%25.9%
IV Rank55.6%28.9%100.0%51.5%68.9%
IV Percentile78.3%41.3%100.0%82.5%88.1%
Term Structure-0.5%-3.3%1.3%0.2%-3.1%
VWIV29.9%25.5%37.5%28.9%29.1%
Skew 25d3.4%2.5%4.7%3.9%3.1%
Skew 10d6.6%3.9%11.4%5.4%5.3%
Call IV 25d28.0%23.8%31.8%28.3%31.7%
Put IV 25d31.4%26.5%35.8%32.1%34.8%
Bid-Ask Spread %72.9666.6181.7781.7769.52
Gamma HHI0.300.190.780.260.27
Net GEX-4.1M-11.6M-1.7M-4.9M-1.9M
Net DEX66.4M35.9M93.0M70.1M49.3M
Net VEX-353.5K-409.0K-311.0K-374.9K-320.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio5.060.1421.7513.870.93
Total Volume1,426.2383612,5992,4842,599
Total OI28,398.47619,75533,16729,91521,900

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$125.86$135.0029.1%8.4%24.9%51.5%28.9%3.9%0.2%-4.9M70.1M-374.9K13.8781.77N/AN/A1672,31715,21014,705
2025-03-04$123.39$135.0029.7%8.5%24.8%54.5%30.0%2.9%-1.4%-4.8M83.6M-358.6K10.5968.28N/AN/A2072,19215,27214,558
2025-03-05$126.86$135.0028.8%8.3%28.0%49.7%28.5%3.2%0.3%-3.8M57.3M-382.2K0.2878.95N/AN/A1,67846515,30013,534
2025-03-06$126.69$135.0031.6%9.1%27.6%65.1%30.8%3.0%0.2%-3.6M56.2M-409.0K4.1372.80N/AN/A2831,16816,86813,881
2025-03-07$126.96$135.0030.4%8.7%27.8%58.4%31.6%2.5%-1.2%-4.3M60.7M-406.8K17.9581.72N/AN/A1362,44116,94114,898
2025-03-10$122.23$135.0037.8%10.8%29.7%100.0%37.5%4.0%-3.3%-4.9M89.9M-396.5K3.7973.15N/AN/A25998216,96216,205
2025-03-11$121.53$135.0032.7%10.4%29.7%71.3%35.3%4.2%-0.5%-4.9M92.6M-371.5K11.2077.73N/AN/A1721,92716,98115,788
2025-03-12$120.06$135.0032.4%9.8%29.7%69.7%33.8%4.7%-0.1%-4.1M93.0M-360.6K7.3475.63N/AN/A9267517,06114,947
2025-03-13$117.88$135.0031.9%9.8%29.0%67.1%35.6%3.1%-0.9%-3.3M91.6M-327.0K5.9176.46N/AN/A3392,00317,09513,802
2025-03-14$121.29$135.0030.5%8.8%31.8%59.2%29.3%4.0%1.3%-4.4M77.8M-350.9K1.0274.10N/AN/A38138817,19113,666
2025-03-17$123.07$135.0028.0%8.3%32.3%45.2%28.0%3.5%0.8%-5.2M68.5M-371.0K0.1471.34N/AN/A5407817,61413,949
2025-03-18$122.78$135.0028.3%8.0%32.2%46.8%28.9%3.8%-0.8%-5.2M70.3M-363.6K0.5868.13N/AN/A84349217,94513,981
2025-03-19$122.59$135.0026.6%7.9%31.4%37.1%28.5%3.4%0.9%-5.4M73.0M-359.2K0.1570.78N/AN/A5247718,24714,268
2025-03-20$120.72$135.0027.4%8.0%31.6%41.6%27.8%3.6%0.5%-4.8M86.2M-336.4K21.7569.91N/AN/A1072,32718,67614,236
2025-03-21$120.35$135.0026.5%8.0%31.6%36.3%27.1%3.4%1.1%-11.6M63.8M-327.7K2.1069.76N/AN/A13929218,70012,366
2025-03-24$121.70$135.0025.8%7.5%32.2%32.8%25.5%2.9%0.4%-1.8M35.9M-320.7K0.7473.27N/AN/A24418110,4169,339
2025-03-25$120.46$135.0025.1%7.4%32.2%28.9%25.5%2.6%0.6%-1.9M39.9M-311.0K0.8471.50N/AN/A53044410,5929,352
2025-03-26$119.41$135.0030.0%8.2%31.7%56.4%28.9%3.5%-1.3%-1.7M42.4M-322.3K1.0571.42N/AN/A49351911,0099,767
2025-03-27$119.25$135.0029.9%8.0%24.8%55.4%27.9%2.8%-2.2%-1.7M41.8M-331.6K0.9469.25N/AN/A45943011,35110,038
2025-03-28$116.80$135.0032.9%8.7%25.5%72.2%30.5%2.5%-2.6%-1.8M50.7M-320.9K0.9366.61N/AN/A18717411,48710,270
2025-03-31$117.52$135.0032.3%8.4%25.6%68.9%29.1%3.1%-3.1%-1.9M49.3M-320.1K0.9369.52N/AN/A1,3451,25411,57110,329