DOCS Options History — March 2025

In March 2025, DOCS traded between $58.30 and $69.61. ATM implied volatility averaged 54.7%, placing in the 14.2% IV rank vs the trailing year. The 30-day expected move averaged 18.7%. IV traded below realized volatility by 16.2% (HV 20d: 71.0%). Max pain ranged from $62.50 to $70.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 3.58.

Notable Days

2025-03-24: Highest Volume — 11,180 contracts
2025-03-10: Largest IV spike — 23.0% change
2025-03-10: Highest IV Rank — 20.3%
2025-03-27: Largest Expected Move — 22.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$63.38	$58.30	$69.61	$68.35	$58.50
Max Pain	$65.95	$62.50	$70.00	$70.00	$62.50
ATM IV	54.7%	50.6%	68.3%	56.6%	56.7%
Expected Move	18.7%	14.7%	22.1%	16.2%	21.5%
HV 20d	71.0%	45.2%	132.6%	130.5%	55.4%
HV 60d	83.4%	81.3%	85.0%	81.3%	84.3%
IV Rank	14.2%	12.3%	20.3%	15.0%	15.1%
IV Percentile	62.6%	56.7%	77.4%	65.5%	63.9%
Term Structure	14.3%	-6.1%	30.2%	-4.8%	18.1%
VWIV	65.2%	51.8%	75.4%	55.8%	74.2%
Skew 25d	7.1%	3.6%	10.2%	5.2%	8.5%
Skew 10d	15.2%	9.2%	21.1%	11.6%	17.3%
Call IV 25d	50.3%	45.2%	55.1%	54.0%	51.9%
Put IV 25d	57.4%	49.5%	62.2%	59.2%	60.4%
Bid-Ask Spread %	50.11	32.62	68.13	63.76	37.39
Gamma HHI	0.16	0.11	0.39	0.17	0.22
Net GEX	-1.8M	-4.8M	-137.1K	-546.1K	-2.9M
Net DEX	6.9M	-43.1M	56.6M	-28.2M	51.3M
Net VEX	-444.6K	-525.2K	-388.6K	-411.9K	-486.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.58	0.29	9.38	1.80	4.08
Total Volume	4,338.762	1,230	11,180	2,397	3,771
Total OI	55,004.952	45,768	64,196	46,228	59,307

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-03-03	$68.35	$70.00	56.6%	16.2%	130.5%	15.0%	55.8%	5.2%	-4.8%	-546.1K	-28.2M	-411.9K	1.80	63.76	N/A	N/A	855	1,542	22,564	23,664
2025-03-04	$68.36	$70.00	53.7%	15.4%	130.4%	13.7%	53.2%	3.6%	-6.1%	-473.6K	-31.0M	-400.3K	1.19	62.52	N/A	N/A	2,544	3,030	22,717	23,051
2025-03-05	$69.61	$70.00	51.2%	14.7%	130.4%	12.5%	51.8%	4.4%	14.1%	-137.1K	-43.1M	-413.2K	0.29	66.17	N/A	N/A	950	280	23,762	22,958
2025-03-06	$65.83	$70.00	56.8%	16.3%	132.2%	15.1%	55.3%	4.4%	12.3%	-359.3K	-20.5M	-400.1K	1.12	68.10	N/A	N/A	912	1,019	24,338	23,067
2025-03-07	$64.23	$70.00	55.5%	15.9%	132.6%	14.5%	56.8%	7.3%	12.5%	-457.4K	-11.5M	-388.6K	9.38	64.36	N/A	N/A	782	7,334	24,484	22,845
2025-03-10	$60.72	$70.00	68.3%	19.6%	61.8%	20.3%	66.5%	7.1%	10.7%	-1.2M	17.7M	-392.2K	4.21	63.11	N/A	N/A	1,141	4,805	24,536	27,807
2025-03-11	$61.74	$70.00	57.0%	18.2%	56.5%	15.2%	65.7%	6.5%	12.0%	-1.1M	5.1M	-397.0K	2.50	65.35	N/A	N/A	1,097	2,746	24,724	26,914
2025-03-12	$64.34	$70.00	53.3%	16.5%	45.2%	13.5%	60.0%	6.8%	13.7%	-975.4K	-9.9M	-408.1K	2.98	64.87	N/A	N/A	1,309	3,906	25,193	26,863
2025-03-13	$61.02	$70.00	56.3%	18.0%	47.6%	14.9%	61.1%	5.2%	12.7%	-1.5M	15.9M	-407.8K	7.69	68.13	N/A	N/A	537	4,131	25,143	30,239
2025-03-14	$62.98	$67.50	54.8%	15.6%	49.5%	14.2%	53.1%	7.0%	12.9%	-1.8M	6.4M	-425.8K	5.91	65.20	N/A	N/A	376	2,223	25,193	32,296
2025-03-17	$62.74	$62.50	53.5%	19.7%	48.9%	13.6%	70.8%	7.5%	15.3%	-2.0M	13.2M	-426.2K	4.66	32.62	N/A	N/A	833	3,883	25,225	34,027
2025-03-18	$61.16	$62.50	57.5%	21.2%	48.4%	15.4%	75.4%	7.9%	16.5%	-2.3M	29.1M	-451.5K	2.33	40.44	N/A	N/A	611	1,424	25,346	36,754
2025-03-19	$62.88	$62.50	53.1%	20.0%	50.4%	13.4%	71.3%	9.3%	16.9%	-2.3M	13.4M	-456.4K	3.89	36.54	N/A	N/A	665	2,584	25,465	36,473
2025-03-20	$63.16	$62.50	52.3%	20.1%	50.6%	13.1%	70.4%	8.2%	17.8%	-2.4M	10.0M	-460.0K	2.89	33.28	N/A	N/A	726	2,101	25,674	37,183
2025-03-21	$62.72	$62.50	51.1%	19.8%	48.4%	12.5%	68.7%	8.3%	18.2%	-4.8M	12.2M	-465.0K	3.51	36.31	N/A	N/A	944	3,318	26,005	38,191
2025-03-24	$66.20	$62.50	50.6%	20.0%	52.8%	12.3%	71.6%	7.5%	19.1%	-1.4M	-10.8M	-481.4K	2.13	34.15	N/A	N/A	3,568	7,612	19,164	30,886
2025-03-25	$65.97	$62.50	51.7%	20.4%	52.6%	12.8%	70.4%	7.5%	20.0%	-2.0M	-2.8M	-525.2K	3.72	35.90	N/A	N/A	774	2,880	20,234	35,736
2025-03-26	$61.45	$62.50	51.1%	20.4%	56.3%	12.5%	69.1%	8.5%	19.5%	-2.7M	35.4M	-524.1K	6.07	37.55	N/A	N/A	862	5,231	21,365	37,134
2025-03-27	$60.76	$62.50	52.2%	22.1%	54.2%	13.0%	72.1%	7.9%	30.2%	-2.8M	36.4M	-514.9K	2.11	39.71	N/A	N/A	1,082	2,282	21,482	37,456
2025-03-28	$58.30	$62.50	56.0%	21.5%	55.4%	14.8%	75.3%	10.2%	18.8%	-3.0M	56.6M	-500.4K	2.76	36.94	N/A	N/A	1,181	3,263	21,464	38,175
2025-03-31	$58.50	$62.50	56.7%	21.5%	55.4%	15.1%	74.2%	8.5%	18.1%	-2.9M	51.3M	-486.6K	4.08	37.39	N/A	N/A	743	3,028	21,567	37,740