C Options History — July 2025

In July 2025, C traded between $85.75 and $95.97. ATM implied volatility averaged 26.2%, placing in the 12.2% IV rank vs the trailing year. The 30-day expected move averaged 7.5%. IV traded above realized volatility by 2.9% (HV 20d: 23.4%). Max pain ranged from $75.00 to $90.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.59.

Notable Days

  • 2025-07-15: Highest Volume — 265,555 contracts
  • 2025-07-15: Largest IV drop — 12.4% change
  • 2025-07-07: Highest IV Rank — 20.7%
  • 2025-07-02: Largest Expected Move — 9.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$91.00$85.75$95.97$86.25$94.18
Max Pain$85.00$75.00$90.00$75.00$90.00
ATM IV26.2%23.4%30.5%28.7%25.4%
Expected Move7.5%6.6%9.0%9.0%7.1%
HV 20d23.4%19.8%25.2%19.9%25.2%
HV 60d26.9%23.1%39.5%39.5%23.3%
IV Rank12.2%6.5%20.7%17.2%10.6%
IV Percentile40.5%15.9%75.0%61.9%36.5%
Term Structure-0.2%-1.3%0.3%-1.1%0.1%
VWIV26.7%23.3%32.7%32.7%24.8%
Skew 25d1.9%1.2%2.8%1.9%2.3%
Skew 10d4.3%2.2%6.4%6.4%4.9%
Call IV 25d25.7%22.9%29.3%28.5%24.8%
Put IV 25d27.6%24.5%32.1%30.4%27.1%
Bid-Ask Spread %3.342.257.212.763.69
Gamma HHI0.130.100.190.120.12
Net GEX154.3M108.5M227.3M227.3M113.4M
Net DEX-4.84B-6.05B-3.77B-4.78B-4.13B
Net VEX-21.0M-22.9M-19.2M-21.5M-22.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.590.161.040.161.04
Total Volume113,932.36452,133265,555191,38558,902
Total OI1,821,107.9091,632,9411,937,9021,884,1591,824,697

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-07-01$86.25$75.0028.7%9.0%19.9%17.2%32.7%1.9%-1.1%227.3M-4.78B-21.5M0.162.76165,03426,351993,155891,004
2025-07-02$86.66$75.0028.6%9.0%19.8%16.8%32.3%1.5%-0.3%209.8M-4.77B-21.1M0.652.7475,44849,051974,663902,408
2025-07-03$88.75$82.5028.4%7.9%20.6%16.5%28.0%1.6%-0.5%167.4M-5.52B-20.6M0.473.2152,70525,009975,372931,428
2025-07-07$87.34$82.5030.5%8.7%22.2%20.7%29.2%2.8%-0.1%136.0M-4.28B-21.9M0.682.6454,95937,486903,067874,009
2025-07-08$85.90$82.5029.7%8.3%23.0%19.2%28.8%2.5%-0.6%142.2M-3.83B-21.5M0.893.0747,05842,047912,750882,479
2025-07-09$85.75$82.5028.8%8.0%23.1%17.2%32.4%2.1%-0.7%130.9M-3.77B-21.4M0.783.2038,82030,232918,345902,075
2025-07-10$86.95$82.5028.6%7.9%23.0%17.0%27.7%1.6%-1.3%132.4M-4.27B-20.8M0.613.0236,44422,315924,871920,530
2025-07-11$86.85$82.5028.8%8.0%23.1%17.4%29.2%1.7%-1.3%123.4M-4.27B-20.6M0.693.5053,29836,992933,843932,994
2025-07-14$87.22$85.0029.7%8.4%22.9%19.2%29.7%1.2%-0.5%118.1M-3.90B-21.0M0.643.1799,41763,566881,260906,523
2025-07-15$91.10$85.0026.1%7.5%23.6%11.8%26.2%2.1%-0.3%182.8M-5.42B-19.7M0.373.40193,77971,776931,402931,279
2025-07-16$90.07$85.0024.7%7.1%23.9%9.0%25.5%2.1%0.0%198.5M-4.98B-20.8M0.502.2569,73734,909959,746943,856
2025-07-17$92.73$85.0024.1%6.9%24.3%7.9%25.1%2.0%-0.0%178.7M-6.03B-19.7M0.392.5191,17035,589972,316953,372
2025-07-18$93.15$85.0023.7%6.8%24.3%7.1%23.9%2.1%0.1%171.6M-6.04B-20.3M0.362.4460,89321,762972,882965,020
2025-07-21$92.77$85.0023.4%6.7%24.6%6.5%23.9%1.8%0.3%153.2M-4.64B-20.0M0.992.9231,87231,559826,908806,033
2025-07-22$94.09$87.5023.5%6.7%24.7%6.7%23.8%2.1%0.3%130.8M-5.08B-19.2M0.562.9547,53126,855832,794818,005
2025-07-23$95.78$87.5023.4%6.7%24.1%6.6%23.4%1.8%0.2%108.5M-5.49B-20.1M0.243.28178,02442,999848,558831,560
2025-07-24$95.38$90.0023.8%6.7%24.4%7.2%24.2%1.7%0.3%125.0M-5.77B-21.1M0.282.87139,15039,252935,247857,988
2025-07-25$95.97$90.0023.5%6.6%23.9%6.6%23.3%1.2%0.3%210.4M-6.05B-21.5M0.273.99158,64742,2311,014,819881,743
2025-07-28$95.39$90.0023.9%6.7%24.1%7.5%23.7%1.3%0.3%152.3M-4.67B-22.1M0.963.5030,68529,427915,469858,820
2025-07-29$94.45$90.0024.7%6.9%24.8%9.0%24.6%1.9%-0.3%135.3M-4.25B-22.9M0.985.2426,32225,811926,511876,195
2025-07-30$95.29$90.0025.4%7.2%24.5%10.6%25.4%2.3%-0.3%146.0M-4.61B-21.9M0.477.2141,80219,596934,011884,367
2025-07-31$94.18$90.0025.4%7.1%25.2%10.6%24.8%2.3%0.1%113.4M-4.13B-22.7M1.043.6928,80830,094936,356888,341