AAXJ Options History — March 2025

In March 2025, AAXJ traded between $72.71 and $77.14. ATM implied volatility averaged 16.6%, placing in the 22.6% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded below realized volatility by 4.9% (HV 20d: 21.5%). Max pain ranged from $69.00 to $71.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2025-03-17: Highest Volume — 85 contracts
2025-03-21: Largest IV spike — 70.7% change
2025-03-06: Highest IV Rank — 36.0%
2025-03-11: Largest Expected Move — 6.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$75.33	$72.71	$77.14	$72.71	$74.05
Max Pain	$70.54	$69.00	$71.00	$71.00	$69.00
ATM IV	16.6%	10.8%	21.5%	16.7%	19.2%
Expected Move	5.0%	2.9%	6.9%	4.8%	5.2%
HV 20d	21.5%	16.9%	23.5%	16.9%	21.7%
HV 60d	17.5%	16.1%	18.2%	16.1%	18.2%
IV Rank	22.6%	6.9%	36.0%	22.9%	29.7%
IV Percentile	61.7%	13.5%	88.5%	71.4%	79.4%
Term Structure	0.5%	-7.8%	7.5%	-1.5%	-0.6%
VWIV	21.5%	21.5%	21.5%	21.5%	21.5%
Skew 25d	0.2%	-3.9%	8.9%	0.2%	-0.9%
Skew 10d	1.8%	-3.0%	4.5%	1.2%	0.7%
Call IV 25d	14.0%	10.1%	20.6%	14.7%	13.9%
Put IV 25d	14.3%	10.8%	29.5%	14.9%	13.0%
Bid-Ask Spread %	108.24	92.03	118.81	115.70	94.63
Gamma HHI	0.33	0.21	0.48	0.39	0.48
Net GEX	15.7K	10.9K	30.2K	16.8K	11.2K
Net DEX	-300.9K	-421.7K	-217.2K	-217.2K	-225.3K
Net VEX	-689	-1.0K	-256	-594	-977
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	4.619	0	85	0	3
Total OI	106.952	67	124	121	69

Daily Data (21 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
2025-03-03	$72.71	$71.00	16.7%	4.8%	16.9%	22.9%	0.0%	0.2%	-1.5%	16.8K	-217.2K	-594	115.70	N/A	N/A	0	77	44
2025-03-04	$73.91	$71.00	16.0%	4.6%	17.5%	20.9%	0.0%	8.9%	-7.8%	15.8K	-275.7K	-546	118.81	N/A	N/A	0	77	44
2025-03-05	$76.13	$71.00	16.5%	4.7%	19.3%	22.4%	0.0%	3.7%	3.9%	14.4K	-373.1K	-429	115.23	N/A	N/A	0	77	44
2025-03-06	$75.65	$71.00	21.5%	6.2%	19.4%	36.0%	21.5%	-1.6%	7.1%	14.6K	-363.0K	-410	118.55	N/A	N/A	3	77	44
2025-03-07	$75.80	$71.00	20.4%	5.9%	19.4%	33.1%	0.0%	1.2%	6.5%	14.9K	-374.8K	-388	113.35	N/A	N/A	0	78	44
2025-03-10	$73.84	$71.00	19.3%	5.5%	21.8%	30.0%	0.0%	1.9%	-1.4%	16.3K	-275.2K	-480	111.70	N/A	N/A	0	78	44
2025-03-11	$74.83	$71.00	21.3%	6.9%	21.9%	35.3%	0.0%	2.9%	-0.3%	15.7K	-307.5K	-443	102.19	N/A	N/A	0	78	44
2025-03-12	$75.06	$71.00	20.8%	6.4%	21.9%	34.2%	0.0%	-3.4%	-1.1%	13.7K	-344.0K	-347	108.28	N/A	N/A	1	78	44
2025-03-13	$74.59	$71.00	12.4%	5.1%	21.8%	11.2%	0.0%	-1.7%	6.6%	14.9K	-324.4K	-384	112.24	N/A	N/A	0	79	44
2025-03-14	$75.78	$71.00	19.9%	5.0%	22.4%	31.7%	0.0%	-3.9%	-1.0%	13.6K	-376.8K	-300	113.27	N/A	N/A	0	79	44
2025-03-17	$77.14	$69.00	16.5%	5.7%	23.1%	22.3%	21.5%	5.2%	-0.8%	17.7K	-421.7K	-256	99.14	N/A	N/A	85	79	44
2025-03-18	$76.69	$69.00	15.7%	5.4%	23.1%	20.1%	0.0%	0.1%	-0.3%	25.1K	-307.0K	-1.0K	107.21	N/A	N/A	1	79	44
2025-03-19	$77.00	$69.00	15.2%	5.7%	23.2%	18.7%	0.0%	1.2%	0.8%	30.2K	-317.1K	-1.0K	105.53	N/A	N/A	0	80	44
2025-03-20	$76.13	$0.00	11.7%	4.3%	23.4%	9.3%	0.0%	-2.8%	7.5%	19.4K	-287.5K	-1.0K	105.50	N/A	N/A	0	80	44
2025-03-21	$75.62	$0.00	19.9%	5.2%	23.5%	31.7%	0.0%	-3.4%	-3.4%	18.2K	-269.3K	-999	96.67	N/A	N/A	2	80	44
2025-03-24	$76.05	$0.00	11.5%	3.0%	22.7%	8.8%	0.0%	-3.3%	-0.9%	10.9K	-257.6K	-969	113.50	N/A	N/A	0	57	10
2025-03-25	$75.85	$0.00	10.8%	2.9%	22.8%	6.9%	0.0%	-3.3%	-0.7%	11.3K	-253.2K	-983	118.28	N/A	N/A	2	57	10
2025-03-26	$75.25	$0.00	10.9%	4.7%	22.4%	7.3%	0.0%	-0.7%	5.4%	12.2K	-247.6K	-981	109.39	N/A	N/A	0	59	10
2025-03-27	$75.82	$0.00	17.8%	3.8%	21.5%	25.9%	0.0%	1.7%	-7.6%	11.6K	-269.4K	-937	101.80	N/A	N/A	0	59	10
2025-03-28	$74.10	$0.00	14.3%	4.9%	22.0%	16.5%	0.0%	2.6%	0.5%	10.9K	-232.2K	-980	92.03	N/A	N/A	0	59	10
2025-03-31	$74.05	$0.00	19.2%	5.2%	21.7%	29.7%	0.0%	-0.9%	-0.6%	11.2K	-225.3K	-977	94.63	N/A	N/A	3	59	10