A Options History — July 2025

In July 2025, A traded between $111.99 and $124.49. ATM implied volatility averaged 30.6%, placing in the 17.9% IV rank vs the trailing year. The 30-day expected move averaged 8.8%. IV traded below realized volatility by 0.4% (HV 20d: 31.0%). Max pain ranged from $115.00 to $120.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 22 of 22 days. Put/call ratio averaged 0.84.

Notable Days

  • 2025-07-15: Highest Volume — 2,304 contracts
  • 2025-07-07: Largest IV spike — 9.4% change
  • 2025-07-22: Highest IV Rank — 22.3%
  • 2025-07-22: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$118.66$111.99$124.49$120.42$115.22
Max Pain$116.59$115.00$120.00$115.00$115.00
ATM IV30.6%27.9%33.1%28.0%32.8%
Expected Move8.8%8.0%9.5%8.0%9.4%
HV 20d31.0%20.5%38.7%21.8%38.7%
HV 60d33.0%28.8%39.5%39.5%33.5%
IV Rank17.9%13.1%22.3%13.4%21.8%
IV Percentile63.8%52.0%75.4%54.0%73.0%
Term Structure1.5%0.4%3.8%1.0%1.0%
VWIV30.2%28.1%32.4%28.1%32.3%
Skew 25d4.3%1.9%17.8%2.8%1.9%
Skew 10d6.0%-6.5%9.3%7.1%-0.1%
Call IV 25d28.3%14.8%32.8%27.2%32.8%
Put IV 25d32.6%30.0%34.7%30.0%34.7%
Bid-Ask Spread %80.5471.0686.1376.4271.06
Gamma HHI0.210.130.280.230.16
Net GEX2.1M93.9K3.9M2.7M1.2M
Net DEX-25.1M-61.5M11.5M-38.2M-5.9M
Net VEX-327.6K-355.9K-292.3K-355.9K-310.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.840.102.440.840.10
Total Volume763.091562,304501295
Total OI27,619.40925,45430,00826,88427,471

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-07-01$120.42$115.0028.0%8.0%21.8%13.4%28.1%2.8%1.0%2.7M-38.2M-355.9K0.8476.42N/AN/A27322815,28911,595
2025-07-02$120.80$115.0028.7%8.2%21.4%14.6%28.5%3.2%1.4%2.7M-40.5M-346.3K0.3174.94N/AN/A1885915,41611,725
2025-07-03$121.52$115.0027.9%8.5%20.5%13.1%31.6%5.2%1.6%2.9M-43.4M-347.1K1.3386.12N/AN/A243215,38011,689
2025-07-07$118.78$115.0030.5%8.6%22.3%17.7%31.0%4.2%0.9%2.6M-28.7M-332.4K0.9982.61N/AN/A12212115,38411,696
2025-07-08$121.36$115.0031.5%8.7%23.1%19.4%29.3%4.8%0.5%3.1M-43.4M-335.6K1.7482.34N/AN/A16328315,42011,712
2025-07-09$121.53$115.0030.4%8.7%22.8%17.6%29.2%17.8%1.3%3.1M-43.5M-332.5K1.1786.02N/AN/A13015215,44811,832
2025-07-10$124.49$115.0028.7%8.2%22.5%14.6%29.0%3.5%2.4%3.3M-61.5M-332.0K0.3283.11N/AN/A1,45546615,50511,913
2025-07-11$123.35$120.0028.3%8.1%22.8%13.8%28.3%3.8%3.8%3.6M-54.8M-341.5K0.2684.03N/AN/A44511415,88412,286
2025-07-14$120.31$120.0030.8%8.8%24.4%18.3%30.7%3.8%0.9%3.9M-38.2M-330.4K0.9082.23N/AN/A1,1131,00316,23412,339
2025-07-15$111.99$120.0032.9%9.4%35.0%22.0%29.6%4.5%1.4%324.6K11.5M-292.3K0.7581.69N/AN/A1,31399116,80712,822
2025-07-16$113.75$120.0031.1%8.9%34.7%18.9%31.5%4.2%1.5%744.1K2.1M-304.0K0.8277.61N/AN/A36529917,05312,677
2025-07-17$116.11$120.0031.2%8.9%34.4%19.0%30.6%4.2%0.8%1.6M-10.9M-324.8K1.0583.33N/AN/A35537317,18312,635
2025-07-18$113.92$120.0031.7%9.1%35.1%19.8%31.7%5.1%1.6%93.9K2.7M-315.5K2.4485.32N/AN/A24760217,13612,872
2025-07-21$112.66$120.0031.6%9.1%35.3%19.7%32.4%4.1%0.4%620.1K4.4M-295.8K0.6179.57N/AN/A1,04063914,13211,322
2025-07-22$116.93$115.0033.1%9.5%37.8%22.3%30.9%4.4%0.8%1.5M-13.5M-326.3K0.1779.27N/AN/A4517614,71711,800
2025-07-23$119.63$115.0030.9%8.9%38.2%18.5%30.8%3.7%1.7%2.1M-27.1M-336.6K0.6278.91N/AN/A64439714,80511,806
2025-07-24$120.20$115.0030.3%8.7%38.1%17.3%30.0%2.9%2.2%2.1M-27.9M-337.2K1.5686.13N/AN/A35955914,75312,032
2025-07-25$120.72$115.0029.3%8.4%38.1%15.6%29.6%2.9%2.9%2.2M-30.2M-332.9K1.5677.40N/AN/A14222114,76612,192
2025-07-28$119.63$115.0030.0%8.6%38.2%17.0%29.9%2.8%1.6%2.1M-24.0M-321.5K0.3879.48N/AN/A54320914,82612,224
2025-07-29$119.81$115.0030.6%8.8%38.1%18.0%29.6%1.9%1.9%2.3M-27.1M-327.9K0.4075.88N/AN/A1415715,16312,231
2025-07-30$117.48$115.0032.9%9.4%38.2%22.0%31.1%3.6%0.7%1.7M-15.1M-328.5K0.1478.46N/AN/A871215,21012,245
2025-07-31$115.22$115.0032.8%9.4%38.7%21.8%32.3%1.9%1.0%1.2M-5.9M-310.6K0.1071.06N/AN/A2682715,21812,253