AAXJ Options History — January 2025

In January 2025, AAXJ traded between $69.53 and $73.25. ATM implied volatility averaged 15.5%, placing in the 19.7% IV rank vs the trailing year. The 30-day expected move averaged 3.9%. IV traded above realized volatility by 0.5% (HV 20d: 15.0%). Max pain ranged from $72.00 to $76.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.00.

Notable Days

2025-01-27: Highest Volume — 3 contracts
2025-01-15: Largest IV drop — 61.5% change
2025-01-14: Highest IV Rank — 52.9%
2025-01-08: Largest Expected Move — 5.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$71.94	$69.53	$73.25	$71.89	$72.73
Max Pain	$74.80	$72.00	$76.00	$72.00	$72.00
ATM IV	15.5%	9.8%	27.7%	15.9%	13.6%
Expected Move	3.9%	2.8%	5.7%	4.5%	3.9%
HV 20d	15.0%	13.4%	16.3%	15.6%	16.3%
HV 60d	16.3%	15.8%	17.6%	17.6%	16.8%
IV Rank	19.7%	4.3%	52.9%	20.7%	14.5%
IV Percentile	50.0%	4.0%	96.8%	66.7%	44.0%
Term Structure	-1.3%	-17.3%	12.1%	-1.4%	0.1%
VWIV	15.2%	15.2%	15.2%	15.2%	15.2%
Skew 25d	0.6%	-13.4%	18.4%	-0.2%	0.8%
Skew 10d	-1.2%	-13.3%	4.7%	1.3%	-2.1%
Call IV 25d	14.4%	11.6%	24.9%	13.3%	15.0%
Put IV 25d	15.0%	10.7%	34.9%	13.1%	15.9%
Bid-Ask Spread %	132.63	127.20	138.63	134.85	134.02
Gamma HHI	0.35	0.27	0.45	0.31	0.43
Net GEX	8.9K	3.9K	13.3K	7.3K	12.9K
Net DEX	-156.3K	-249.9K	-38.5K	-144.6K	-215.5K
Net VEX	-1.1K	-1.2K	-747	-1.2K	-850
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.2	0	3	0	0
Total OI	113.3	111	115	114	112

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Call OI	Put OI
2025-01-02	$71.89	$72.00	15.9%	4.5%	15.6%	20.7%	0.0%	-0.2%	-1.4%	7.3K	-144.6K	-1.2K	134.85	N/A	N/A	0	69	45
2025-01-03	$72.65	$72.00	11.8%	3.4%	16.1%	9.7%	0.0%	1.2%	-0.5%	7.8K	-177.3K	-1.2K	132.97	N/A	N/A	1	69	45
2025-01-06	$72.84	$76.00	17.8%	3.8%	16.0%	25.9%	0.0%	-2.1%	-2.0%	8.8K	-198.0K	-1.1K	132.87	N/A	N/A	0	70	45
2025-01-07	$72.19	$76.00	19.1%	5.0%	16.2%	29.4%	0.0%	3.7%	-4.2%	8.4K	-162.5K	-1.2K	138.63	N/A	N/A	0	70	45
2025-01-08	$71.72	$76.00	25.8%	5.7%	13.4%	47.5%	0.0%	1.8%	-17.3%	7.8K	-142.0K	-1.2K	132.68	N/A	N/A	0	70	45
2025-01-10	$70.22	$76.00	17.3%	4.3%	13.6%	24.6%	0.0%	-0.1%	-0.8%	7.1K	-78.1K	-1.2K	130.56	N/A	N/A	0	70	45
2025-01-13	$69.53	$76.00	20.8%	4.3%	13.7%	33.9%	0.0%	1.2%	0.3%	5.5K	-38.5K	-1.2K	127.20	N/A	N/A	0	70	45
2025-01-14	$70.44	$76.00	27.7%	3.3%	15.0%	52.9%	0.0%	-0.8%	12.1%	3.9K	-45.6K	-1.2K	131.43	N/A	N/A	0	70	45
2025-01-15	$71.22	$76.00	10.7%	3.1%	15.8%	6.6%	0.0%	0.0%	2.9%	6.2K	-109.9K	-1.2K	131.62	N/A	N/A	0	70	45
2025-01-16	$71.41	$76.00	14.9%	4.3%	15.9%	18.0%	0.0%	-6.5%	-3.7%	8.5K	-124.1K	-1.1K	134.71	N/A	N/A	0	70	45
2025-01-17	$71.94	$76.00	11.3%	3.2%	15.2%	8.4%	0.0%	-13.4%	-0.3%	5.8K	-150.9K	-1.1K	131.50	N/A	N/A	0	70	45
2025-01-21	$72.56	$76.00	13.3%	3.8%	13.6%	13.8%	0.0%	0.3%	0.5%	12.3K	-207.4K	-905	130.25	N/A	N/A	0	67	44
2025-01-22	$72.53	$76.00	10.4%	3.0%	13.5%	6.0%	0.0%	0.7%	4.1%	9.6K	-187.8K	-996	132.54	N/A	N/A	0	67	44
2025-01-23	$72.60	$76.00	14.9%	4.3%	13.4%	18.1%	0.0%	18.4%	-4.1%	10.3K	-195.1K	-960	134.86	N/A	N/A	0	67	44
2025-01-24	$73.06	$76.00	9.8%	2.8%	13.5%	4.3%	0.0%	-1.3%	0.1%	9.6K	-202.5K	-967	130.88	N/A	N/A	0	67	44
2025-01-27	$71.55	$76.00	13.0%	3.7%	15.3%	12.8%	15.2%	7.8%	-2.3%	10.3K	-139.7K	-986	131.07	N/A	N/A	3	67	44
2025-01-28	$72.18	$72.00	13.1%	3.8%	15.7%	13.3%	0.0%	-0.7%	-3.6%	13.3K	-185.2K	-911	133.08	N/A	N/A	0	68	44
2025-01-29	$72.27	$72.00	11.7%	3.3%	15.6%	9.2%	0.0%	2.7%	-0.1%	10.0K	-170.7K	-984	133.06	N/A	N/A	0	68	44
2025-01-30	$73.25	$72.00	17.4%	5.0%	16.2%	24.8%	0.0%	-1.3%	-5.9%	12.7K	-249.9K	-747	133.82	N/A	N/A	0	68	44
2025-01-31	$72.73	$72.00	13.6%	3.9%	16.3%	14.5%	0.0%	0.8%	0.1%	12.9K	-215.5K	-850	134.02	N/A	N/A	0	68	44