AN Options History — September 2025

In September 2025, AN traded between $216.21 and $227.60. ATM implied volatility averaged 28.1%, placing in the 9.4% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded above realized volatility by 5.9% (HV 20d: 22.2%). Max pain ranged from $200.00 to $210.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 3.94.

Notable Days

  • 2025-09-03: Highest Volume — 375 contracts
  • 2025-09-11: Largest IV drop — 7.9% change
  • 2025-09-30: Highest IV Rank — 12.9%
  • 2025-09-30: Largest Expected Move — 8.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$221.39$216.21$227.60$219.58$218.74
Max Pain$200.95$200.00$210.00$210.00$200.00
ATM IV28.1%26.2%30.2%28.0%30.2%
Expected Move8.0%7.2%8.7%8.0%8.7%
HV 20d22.2%18.1%25.6%25.3%19.2%
HV 60d26.9%25.7%27.7%27.2%25.8%
IV Rank9.4%6.2%12.9%9.2%12.9%
IV Percentile25.7%9.9%46.4%22.6%46.4%
Term Structure3.6%0.0%6.2%0.2%3.8%
VWIV28.3%20.6%33.6%29.5%31.5%
Skew 25d3.4%0.7%10.1%2.9%3.6%
Skew 10d7.2%-9.8%19.9%7.1%7.3%
Call IV 25d26.5%19.7%29.3%27.2%29.2%
Put IV 25d29.9%24.9%32.8%30.2%32.8%
Bid-Ask Spread %84.3879.3390.9584.0281.81
Gamma HHI0.220.180.270.200.27
Net GEX654.5K434.2K804.8K527.5K647.0K
Net DEX-13.2M-16.8M-10.0M-13.2M-10.8M
Net VEX-62.6K-73.8K-54.4K-66.5K-54.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.940.1240.670.120.48
Total Volume115.762437516446
Total OI3,883.3813,5514,2113,5513,753

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$219.58$210.0028.0%8.0%25.3%9.2%29.5%2.9%0.2%527.5K-13.2M-66.5K0.1284.02N/AN/A146181,8241,727
2025-09-03$219.44$210.0028.0%8.0%24.0%9.2%20.6%2.2%0.0%668.2K-14.6M-69.7K40.6783.94N/AN/A93661,9531,741
2025-09-04$225.94$200.0026.2%7.7%25.4%6.2%25.6%2.7%2.7%443.6K-12.2M-73.8K0.3982.01N/AN/A31121,9532,092
2025-09-05$226.13$200.0027.4%7.2%25.0%8.2%33.6%5.8%4.9%482.8K-12.6M-68.7K1.0086.36N/AN/A221,9562,094
2025-09-08$227.60$200.0027.0%7.8%25.0%7.6%26.7%3.9%3.8%434.2K-13.6M-68.3K0.7480.45N/AN/A2041511,9562,092
2025-09-09$225.38$200.0028.5%7.6%25.6%10.0%26.6%3.4%4.7%590.7K-11.9M-68.5K11.3987.00N/AN/A182052,1192,092
2025-09-10$223.48$200.0029.1%8.3%24.8%11.0%28.0%3.2%3.0%721.3K-14.4M-67.1K0.5779.33N/AN/A21122,1221,895
2025-09-11$226.83$200.0026.8%7.7%22.4%7.2%27.9%3.3%4.7%737.3K-16.8M-69.2K0.3680.34N/AN/A1452,1281,901
2025-09-12$222.32$200.0027.4%7.8%23.0%8.1%29.0%2.3%3.8%780.1K-13.5M-64.1K1.1283.28N/AN/A17192,1371,903
2025-09-15$219.78$200.0029.5%8.4%23.0%11.6%28.8%0.7%2.9%761.0K-14.8M-62.4K0.8284.78N/AN/A28232,1451,767
2025-09-16$219.93$200.0029.1%8.3%22.9%11.0%28.3%3.8%2.0%762.6K-14.4M-61.3K13.0086.42N/AN/A151952,1571,777
2025-09-17$220.61$200.0027.4%7.8%22.4%8.1%26.8%10.1%3.1%804.8K-15.2M-61.4K0.2484.51N/AN/A125302,1591,824
2025-09-18$221.75$200.0026.5%7.6%22.1%6.7%25.9%5.2%6.2%785.5K-15.0M-58.6K0.6390.95N/AN/A19122,1361,814
2025-09-19$218.56$200.0027.0%7.7%23.0%7.6%27.3%3.8%4.8%744.4K-12.7M-56.4K0.6283.11N/AN/A84522,1411,813
2025-09-22$219.52$200.0028.5%8.2%18.1%10.0%31.0%1.6%4.9%665.7K-12.4M-54.4K3.5886.00N/AN/A26932,0091,603
2025-09-23$221.94$200.0028.0%8.0%18.5%9.2%28.9%2.0%5.4%686.1K-14.3M-57.3K1.4288.87N/AN/A771092,0171,694
2025-09-24$221.13$200.0028.8%8.3%18.1%10.5%27.6%1.5%4.2%669.8K-13.7M-58.1K3.1788.23N/AN/A18572,0221,793
2025-09-25$216.21$200.0029.7%8.5%19.7%12.0%31.6%3.0%2.9%585.7K-10.0M-58.4K0.8486.14N/AN/A67562,0251,735
2025-09-26$216.83$200.0028.8%8.3%19.8%10.5%29.9%3.5%3.7%615.8K-10.3M-57.0K1.5082.55N/AN/A14212,0061,729
2025-09-29$217.59$200.0029.3%8.4%19.1%11.4%30.1%2.4%3.5%630.8K-10.5M-57.4K0.2081.95N/AN/A1022,0071,740
2025-09-30$218.74$200.0030.2%8.7%19.2%12.9%31.5%3.6%3.8%647.0K-10.8M-54.8K0.4881.81N/AN/A31152,0121,741