A Options History — April 2025

In April 2025, A traded between $97.88 and $116.00. ATM implied volatility averaged 42.8%, placing in the 51.4% IV rank vs the trailing year. The 30-day expected move averaged 11.6%. IV traded below realized volatility by 5.9% (HV 20d: 48.7%). Max pain ranged from $115.00 to $135.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 2.94.

Notable Days

  • 2025-04-16: Highest Volume — 3,858 contracts
  • 2025-04-09: Largest IV drop — 50.6% change
  • 2025-04-03: Highest IV Rank — 100.0%
  • 2025-04-08: Largest Expected Move — 16.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$105.17$97.88$116.00$113.72$106.98
Max Pain$124.05$115.00$135.00$135.00$115.00
ATM IV42.8%33.9%77.6%34.0%37.0%
Expected Move11.6%8.6%16.6%8.7%10.6%
HV 20d48.7%26.0%58.2%27.1%57.0%
HV 60d35.8%26.7%39.5%26.7%38.8%
IV Rank51.4%26.7%100.0%78.8%29.4%
IV Percentile96.5%90.5%100.0%93.3%93.3%
Term Structure0.2%-6.6%3.1%-3.5%2.0%
VWIV38.9%29.5%51.4%29.6%35.3%
Skew 25d7.8%2.9%14.5%2.9%5.6%
Skew 10d16.6%4.8%36.2%4.8%9.8%
Call IV 25d36.7%27.9%49.8%32.7%33.9%
Put IV 25d44.5%31.9%64.4%35.6%39.5%
Bid-Ask Spread %73.3166.2981.9266.7278.86
Gamma HHI0.160.100.290.290.12
Net GEX-782.9K-1.6M-236.5K-1.6M-610.5K
Net DEX50.5M29.2M72.0M59.9M30.8M
Net VEX-298.9K-338.4K-262.2K-307.6K-338.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.940.199.892.400.39
Total Volume1,512.3812593,858877259
Total OI25,891.61922,73029,38523,20929,385

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$113.72$135.0034.0%8.7%27.1%78.8%29.6%2.9%-3.5%-1.6M59.9M-307.6K2.4066.72N/AN/A25861912,46610,743
2025-04-02$116.00$130.0033.9%8.6%26.0%78.0%29.5%4.0%1.1%-1.6M42.6M-328.2K3.3270.94N/AN/A10033212,58210,148
2025-04-03$110.08$130.0042.0%10.5%31.0%100.0%36.0%5.2%-1.3%-1.4M58.5M-296.2K8.5069.88N/AN/A2762,34712,65010,282
2025-04-04$104.20$130.0050.0%12.8%35.1%100.0%41.4%8.7%-1.7%-1.1M70.6M-275.2K0.4966.29N/AN/A93545712,83411,061
2025-04-07$103.13$130.0061.6%13.8%33.5%100.0%45.8%3.7%0.1%-920.8K64.1M-298.2K9.8976.13N/AN/A1531,51313,16910,941
2025-04-08$97.88$130.0077.6%16.6%36.9%100.0%45.4%12.3%-3.9%-764.1K72.0M-262.9K0.1969.61N/AN/A2,04439813,20111,668
2025-04-09$105.83$130.0038.3%11.0%48.5%31.8%37.4%9.6%-0.2%-767.0K60.8M-286.6K0.3079.82N/AN/A2,10263614,58311,455
2025-04-10$99.05$130.0056.3%16.1%52.9%63.0%51.4%14.5%1.9%-581.5K64.4M-274.9K3.4567.77N/AN/A3181,09814,27111,540
2025-04-11$102.55$130.0045.1%12.9%53.5%43.7%49.8%12.3%1.0%-670.1K60.5M-285.2K6.8566.93N/AN/A2401,64514,36811,633
2025-04-14$105.78$130.0040.8%11.7%54.8%36.1%36.8%10.8%1.6%-952.0K59.3M-302.1K4.5974.62N/AN/A17078114,52913,131
2025-04-15$103.03$125.0037.0%10.6%55.1%29.5%34.3%8.5%2.0%-628.7K58.0M-276.8K0.6971.21N/AN/A20013814,60612,323
2025-04-16$102.35$125.0042.9%12.3%55.1%39.7%38.0%10.8%0.5%-391.9K55.2M-289.2K8.1675.41N/AN/A4213,43714,73412,269
2025-04-17$102.54$125.0036.1%10.3%55.1%27.9%37.1%7.6%3.1%-847.1K54.4M-269.7K0.2073.93N/AN/A1,27025114,96312,083
2025-04-21$99.99$120.0041.4%11.9%55.4%37.2%40.7%9.0%1.3%-581.4K48.0M-262.2K0.5169.73N/AN/A1,28765112,58110,532
2025-04-22$103.10$115.0037.0%10.6%56.8%29.5%39.1%6.7%1.9%-236.5K39.6M-286.0K1.2475.59N/AN/A8841,09913,78211,072
2025-04-23$105.03$115.0039.9%11.4%57.6%34.6%40.5%6.2%-0.5%-419.7K35.4M-315.8K2.7671.00N/AN/A27977014,10612,052
2025-04-24$106.79$115.0037.5%10.7%58.2%30.3%37.5%6.5%1.6%-558.5K31.6M-325.4K2.4575.81N/AN/A4361,06714,27612,613
2025-04-25$106.25$115.0036.9%10.6%58.1%29.4%37.7%8.8%-6.6%-454.0K33.0M-326.1K4.1781.92N/AN/A3321,38314,67212,779
2025-04-28$106.80$115.0038.8%11.1%58.0%32.6%38.0%4.7%1.6%-720.0K32.6M-334.6K0.7280.73N/AN/A23116714,84713,869
2025-04-29$107.58$115.0035.4%10.1%58.0%26.7%35.8%5.3%2.1%-651.2K29.2M-335.8K0.4176.59N/AN/A54922715,02113,904
2025-04-30$106.98$115.0037.0%10.6%57.0%29.4%35.3%5.6%2.0%-610.5K30.8M-338.4K0.3978.86N/AN/A1877215,32014,065