C Options History — March 2025

In March 2025, C traded between $67.07 and $76.59. ATM implied volatility averaged 34.9%, placing in the 71.2% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded above realized volatility by 0.1% (HV 20d: 34.8%). Max pain ranged from $70.00 to $72.50. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.02.

Notable Days

2025-03-04: Highest Volume — 223,287 contracts
2025-03-10: Largest IV spike — 17.7% change
2025-03-10: Highest IV Rank — 100.0%
2025-03-10: Largest Expected Move — 13.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$71.08	$67.07	$76.59	$76.59	$71.00
Max Pain	$72.07	$70.00	$72.50	$72.50	$72.50
ATM IV	34.9%	30.4%	42.0%	32.9%	36.0%
Expected Move	10.1%	8.3%	13.3%	10.1%	10.0%
HV 20d	34.8%	27.4%	38.2%	27.4%	37.4%
HV 60d	31.4%	27.2%	32.7%	27.2%	32.7%
IV Rank	71.2%	47.3%	100.0%	71.3%	72.9%
IV Percentile	95.5%	84.5%	100.0%	97.6%	96.8%
Term Structure	-0.2%	-1.8%	3.9%	-1.8%	-0.2%
VWIV	35.4%	28.4%	47.8%	36.1%	34.3%
Skew 25d	5.4%	4.5%	6.7%	5.0%	5.8%
Skew 10d	12.1%	9.7%	16.0%	10.2%	11.5%
Call IV 25d	32.5%	28.0%	40.1%	30.5%	32.4%
Put IV 25d	37.8%	32.9%	45.8%	35.5%	38.2%
Bid-Ask Spread %	2.55	1.58	6.76	2.44	2.09
Gamma HHI	0.07	0.06	0.11	0.09	0.06
Net GEX	12.9M	-19.2M	47.4M	28.7M	6.9M
Net DEX	-554.3M	-1.66B	454.6M	-1.66B	-490.6M
Net VEX	-22.2M	-23.3M	-21.5M	-22.0M	-23.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.02	0.32	2.78	0.32	0.89
Total Volume	106,737.333	45,862	223,287	172,272	61,106
Total OI	1,748,037.952	1,593,614	1,861,725	1,658,426	1,714,552

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	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2025-03-03	$76.59	$72.50	32.9%	10.1%	27.4%	71.3%	36.1%	5.0%	-1.8%	28.7M	-1.66B	-22.0M	0.32	2.44	130,073	42,199	799,792	858,634
2025-03-04	$72.64	$72.50	35.2%	11.0%	32.2%	84.4%	39.0%	5.7%	-0.8%	9.8M	-648.8M	-21.9M	0.58	2.08	141,285	82,002	846,922	856,526
2025-03-05	$72.99	$72.50	33.2%	10.1%	32.2%	73.5%	34.7%	4.8%	3.9%	21.9M	-870.3M	-21.7M	1.06	2.26	68,927	73,161	878,795	865,137
2025-03-06	$70.13	$72.50	37.0%	11.7%	34.3%	94.7%	39.7%	4.9%	-0.7%	-3.6M	-125.9M	-22.0M	2.78	2.21	50,839	141,233	908,397	889,491
2025-03-07	$70.34	$72.50	35.7%	10.6%	30.8%	87.1%	36.6%	5.5%	0.2%	-12.7M	-200.6M	-22.1M	2.21	1.78	65,865	145,538	923,605	938,120
2025-03-10	$67.07	$72.50	42.0%	13.3%	33.9%	100.0%	47.8%	5.8%	0.5%	-13.2M	454.6M	-21.5M	0.61	2.27	105,813	64,114	831,448	879,794
2025-03-11	$67.72	$71.00	40.1%	12.7%	34.6%	91.3%	44.6%	6.7%	1.1%	-8.5M	254.7M	-22.2M	0.94	1.85	51,256	48,143	860,356	894,716
2025-03-12	$68.00	$70.00	37.0%	11.4%	34.5%	77.1%	39.3%	6.0%	1.3%	-7.6M	213.7M	-22.0M	0.49	1.58	50,136	24,729	872,292	905,679
2025-03-13	$67.08	$70.00	38.1%	11.3%	34.5%	82.5%	42.5%	6.0%	0.6%	-12.1M	406.0M	-21.8M	1.19	1.72	42,987	51,008	886,695	908,450
2025-03-14	$68.50	$70.00	34.2%	9.2%	35.3%	64.6%	32.8%	5.2%	2.3%	-2.5M	23.2M	-21.8M	0.71	1.65	45,726	32,293	900,207	921,722
2025-03-17	$70.30	$72.50	33.6%	9.1%	34.8%	61.7%	31.1%	5.7%	-1.5%	10.9M	-473.5M	-21.8M	0.49	6.76	45,021	22,070	879,119	898,163
2025-03-18	$70.29	$72.50	35.7%	9.5%	34.8%	71.4%	33.6%	5.7%	-1.5%	15.5M	-476.0M	-22.2M	0.73	6.67	26,472	19,390	893,262	910,698
2025-03-19	$71.64	$72.50	32.7%	8.8%	36.2%	57.7%	31.0%	5.0%	-1.0%	34.7M	-894.3M	-22.4M	0.70	2.88	40,826	28,583	902,785	919,916
2025-03-20	$72.06	$72.50	33.1%	8.9%	35.6%	59.7%	29.8%	4.5%	-1.2%	35.3M	-1.04B	-22.3M	0.80	2.20	41,487	33,369	905,878	930,387
2025-03-21	$72.00	$72.50	32.6%	8.9%	35.2%	57.2%	31.3%	4.9%	-1.1%	47.4M	-961.7M	-22.3M	0.97	2.74	37,687	36,605	912,485	942,783
2025-03-24	$74.20	$72.50	31.0%	8.3%	37.1%	49.6%	29.6%	4.9%	-0.6%	35.2M	-1.33B	-22.4M	0.44	2.09	68,171	30,112	777,560	816,054
2025-03-25	$74.51	$72.50	30.4%	8.4%	37.2%	47.3%	28.4%	4.9%	-0.5%	45.8M	-1.53B	-22.4M	0.59	2.06	35,562	20,815	809,952	827,053
2025-03-26	$73.25	$72.50	32.8%	9.1%	37.1%	58.2%	31.8%	5.1%	-1.0%	34.4M	-1.13B	-23.0M	0.90	2.19	28,493	25,528	820,903	837,801
2025-03-27	$72.25	$72.50	32.9%	9.0%	37.3%	58.7%	33.3%	5.3%	-1.1%	23.4M	-864.5M	-22.8M	2.40	1.99	20,615	49,521	831,235	845,493
2025-03-28	$70.22	$72.50	36.3%	9.8%	38.2%	73.9%	36.0%	5.5%	-1.0%	-19.2M	-294.3M	-23.0M	1.64	1.96	42,693	70,031	834,284	871,656
2025-03-31	$71.00	$72.50	36.0%	10.0%	37.4%	72.9%	34.3%	5.8%	-0.2%	6.9M	-490.6M	-23.3M	0.89	2.09	32,289	28,817	824,411	890,141