C Options History — May 2025

In May 2025, C traded between $68.53 and $76.04. ATM implied volatility averaged 27.3%, placing in the 14.3% IV rank vs the trailing year. The 30-day expected move averaged 7.8%. IV traded below realized volatility by 9.3% (HV 20d: 36.6%). Max pain ranged from $67.50 to $69.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.78.

Notable Days

  • 2025-05-02: Highest Volume — 251,793 contracts
  • 2025-05-12: Largest IV drop — 11.7% change
  • 2025-05-06: Highest IV Rank — 20.9%
  • 2025-05-01: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$73.53$68.53$76.04$68.53$75.38
Max Pain$67.64$67.50$69.00$69.00$67.50
ATM IV27.3%24.1%30.5%30.0%26.9%
Expected Move7.8%6.9%8.8%8.8%7.5%
HV 20d36.6%24.5%77.1%77.1%27.3%
HV 60d51.3%50.3%52.0%51.1%50.3%
IV Rank14.3%8.0%20.9%19.9%13.6%
IV Percentile53.2%27.4%76.2%73.8%46.8%
Term Structure0.2%-0.3%0.6%0.4%0.1%
VWIV27.3%24.0%32.6%32.6%26.6%
Skew 25d4.7%3.2%6.0%6.0%4.2%
Skew 10d9.7%6.2%12.5%11.8%9.1%
Call IV 25d25.1%22.3%27.9%27.5%24.8%
Put IV 25d29.8%26.3%33.5%33.5%29.0%
Bid-Ask Spread %2.221.723.172.703.17
Gamma HHI0.100.070.160.070.09
Net GEX62.4M11.1M106.4M11.1M79.2M
Net DEX-1.83B-2.73B-415.4M-415.4M-2.22B
Net VEX-22.8M-23.5M-21.9M-22.8M-23.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.780.191.831.830.64
Total Volume73,685.23831,046251,79375,84938,030
Total OI1,900,804.8571,796,1142,012,2131,917,5101,906,120

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$68.53$69.0030.0%8.8%77.1%19.9%32.6%6.0%0.4%11.1M-415.4M-22.8M1.832.7026,77849,071921,774995,736
2025-05-02$70.63$69.0028.2%8.1%61.4%16.3%26.5%5.6%0.6%39.3M-1.14B-22.8M0.221.75206,35545,438929,7011,031,249
2025-05-05$70.38$67.5030.0%8.7%55.3%20.0%32.3%5.9%0.3%35.6M-949.8M-22.8M0.922.0221,50019,865896,974978,628
2025-05-06$70.00$67.5030.5%8.7%55.0%20.9%31.2%5.6%-0.1%32.7M-865.6M-22.8M1.022.0328,18928,657902,695981,716
2025-05-07$70.45$67.5029.8%8.5%54.6%19.5%29.4%5.6%0.1%39.5M-996.2M-22.7M0.903.0735,87432,297905,985991,533
2025-05-08$71.98$67.5028.4%8.0%40.0%16.6%28.0%5.2%0.2%59.6M-1.48B-22.7M0.892.4138,02833,960912,5461,010,058
2025-05-09$71.36$67.5027.6%7.7%31.3%15.0%26.3%4.9%0.3%39.4M-1.24B-22.6M0.691.9440,95028,346918,9311,023,976
2025-05-12$74.83$67.5024.4%6.9%33.9%8.5%24.6%4.5%-0.3%93.4M-2.36B-21.9M0.471.7277,37236,133908,9421,011,501
2025-05-13$75.73$67.5024.1%7.0%33.2%8.0%25.7%4.0%0.4%106.3M-2.63B-22.0M0.431.9368,13129,082921,1621,023,641
2025-05-14$75.20$67.5025.0%7.1%33.6%9.9%26.3%4.0%-0.3%98.0M-2.47B-22.5M0.712.0730,94322,007932,9731,032,558
2025-05-15$75.95$67.5025.5%7.4%27.2%10.8%25.1%4.0%0.3%106.4M-2.73B-22.5M0.191.7282,34115,718938,9311,041,532
2025-05-16$75.67$67.5024.8%7.2%27.0%9.3%24.9%3.2%0.5%89.6M-2.68B-22.8M0.511.7654,83028,043967,9241,044,289
2025-05-19$76.04$67.5025.1%7.2%25.8%9.8%25.1%3.8%0.3%64.6M-2.39B-22.9M0.612.1030,75018,801863,285932,829
2025-05-20$75.79$67.5025.2%7.2%24.5%10.1%24.0%4.3%0.4%66.0M-2.32B-22.7M1.552.4012,17218,874875,346937,708
2025-05-21$73.57$67.5027.5%7.9%26.9%14.7%27.6%5.1%0.4%42.0M-1.65B-23.0M0.663.0254,24835,576878,999943,470
2025-05-22$73.63$67.5028.0%8.0%25.7%15.6%27.1%4.7%0.2%42.0M-1.71B-23.0M0.822.1334,69528,280908,298955,479
2025-05-23$73.19$67.5028.7%8.2%25.9%17.1%27.9%4.5%0.3%36.2M-1.56B-23.5M1.112.2022,82425,367924,588957,693
2025-05-27$75.49$67.5027.5%7.8%27.6%14.7%27.9%4.5%0.0%74.9M-2.24B-23.0M0.502.1435,16117,717902,657947,514
2025-05-28$75.00$67.5028.2%8.0%27.9%16.1%27.5%4.4%-0.1%73.0M-2.12B-23.0M0.842.1021,04117,735914,998952,123
2025-05-29$75.43$67.5027.4%7.7%27.3%14.5%25.8%4.2%0.3%81.9M-2.25B-23.0M0.972.2528,60127,610925,790965,050
2025-05-30$75.38$67.5026.9%7.5%27.3%13.6%26.6%4.2%0.1%79.2M-2.22B-23.0M0.643.1723,21914,811931,766974,354