DOCS Options History — May 2025

In May 2025, DOCS traded between $50.84 and $60.69. ATM implied volatility averaged 95.1%, placing in the 32.8% IV rank vs the trailing year. The 30-day expected move averaged 18.4%. IV traded above realized volatility by 44.6% (HV 20d: 50.4%). Max pain ranged from $52.50 to $62.50. Net GEX was positive for 9 of 21 trading days. Term structure was in contango for 8 of 21 days. Put/call ratio averaged 1.08.

Notable Days

  • 2025-05-16: Highest Volume — 40,012 contracts
  • 2025-05-14: Largest IV drop — 67.0% change
  • 2025-05-13: Highest IV Rank — 93.5%
  • 2025-05-01: Largest Expected Move — 36.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$55.70$50.84$60.69$58.55$51.97
Max Pain$56.55$52.50$62.50$62.50$52.50
ATM IV95.1%37.8%228.8%125.6%37.8%
Expected Move18.4%10.8%36.0%36.0%10.8%
HV 20d50.4%35.0%66.7%66.7%49.3%
HV 60d61.3%53.9%89.7%89.7%57.0%
IV Rank32.8%6.9%93.5%46.4%6.9%
IV Percentile68.2%31.7%99.6%98.8%31.7%
Term Structure-6.5%-48.9%1.5%-48.4%0.9%
VWIV63.8%38.6%124.6%124.6%38.6%
Skew 25d6.6%1.0%14.9%14.9%3.3%
Skew 10d14.3%0.6%53.6%29.2%7.0%
Call IV 25d60.1%36.7%115.3%115.3%37.0%
Put IV 25d66.7%40.3%130.2%130.2%40.3%
Bid-Ask Spread %34.0316.8955.3237.8855.32
Gamma HHI0.110.080.380.080.12
Net GEX-148.1K-1.8M461.2K-289.4K175.4K
Net DEX-4.7M-20.5M30.5M-6.6M-3.4M
Net VEX-414.6K-443.5K-354.6K-414.0K-398.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.080.115.743.450.32
Total Volume6,48172140,0123,623878
Total OI52,844.33343,82579,97244,14150,631

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$58.55$62.50125.6%36.0%66.7%46.4%124.6%14.9%-48.4%-289.4K-6.6M-414.0K3.4537.88N/AN/A8142,80919,68724,454
2025-05-02$59.07$62.50123.1%35.3%62.2%45.3%120.8%12.7%-48.9%-332.1K-7.5M-427.0K0.8435.57N/AN/A1,2581,06320,06726,713
2025-05-05$59.61$57.50139.0%21.9%59.5%52.6%77.9%10.7%-2.5%-303.1K-9.7M-422.5K5.7416.89N/AN/A6573,77220,71127,077
2025-05-06$57.22$57.50146.7%22.3%61.8%56.1%77.1%9.7%-3.0%-448.2K1.9M-433.5K1.2420.72N/AN/A1,0001,23720,86729,121
2025-05-07$58.56$57.50151.3%22.4%60.0%58.2%77.2%10.7%-3.1%-433.8K-2.1M-441.0K1.0125.09N/AN/A82182821,43629,946
2025-05-08$59.47$60.00157.3%22.0%46.8%60.9%77.8%10.7%-3.3%-398.6K-6.8M-443.5K0.9521.20N/AN/A77973821,71830,626
2025-05-09$58.83$60.00158.0%21.7%35.0%61.2%72.2%11.3%-2.3%-424.8K-3.8M-441.1K0.5334.13N/AN/A3,2131,68822,06830,934
2025-05-12$60.69$60.00207.0%22.2%35.6%83.6%76.2%8.0%-4.2%-138.6K-19.0M-440.6K0.9221.49N/AN/A3,5463,27924,50332,280
2025-05-13$60.17$60.00228.8%21.8%35.9%93.5%74.8%6.2%-3.8%-39.1K-20.5M-442.1K1.2321.79N/AN/A3,5694,39426,19534,088
2025-05-14$59.45$60.0075.6%21.7%36.5%23.7%74.9%5.8%-4.0%17.2K-19.4M-432.1K1.2024.71N/AN/A3,5434,24528,23034,760
2025-05-15$58.89$60.0082.0%23.5%36.1%26.6%81.0%4.5%-16.1%-77.6K-14.9M-433.8K0.8520.42N/AN/A15,46613,08030,16436,831
2025-05-16$52.53$57.5039.4%11.3%55.5%7.2%40.7%1.0%0.3%-1.8M30.5M-354.6K0.8526.51N/AN/A21,62818,38440,08839,884
2025-05-19$53.04$52.5039.8%11.4%53.9%7.8%40.3%2.6%0.3%461.2K-9.9M-382.8K0.8940.47N/AN/A4,0833,62224,80919,016
2025-05-20$52.77$52.5038.4%11.0%53.4%7.2%39.2%3.9%1.5%207.7K-4.9M-388.3K0.8033.03N/AN/A2,3971,91225,44020,557
2025-05-21$50.84$52.5043.5%12.5%53.8%9.7%42.9%4.2%-0.7%-17.6K3.9M-393.8K0.3542.98N/AN/A3,9731,37125,91821,662
2025-05-22$51.36$52.5040.7%11.7%51.5%8.3%40.9%3.1%0.4%111.0K401.3K-407.6K0.2641.93N/AN/A1,11729227,17522,019
2025-05-23$51.14$52.5042.8%12.3%51.3%9.3%42.2%4.5%0.2%83.2K1.1M-404.7K0.1144.96N/AN/A1,49216827,21922,002
2025-05-27$51.98$52.5041.3%11.8%51.8%8.6%40.8%4.0%0.0%201.1K-2.9M-404.2K0.3250.33N/AN/A92529428,12422,013
2025-05-28$51.80$52.5039.4%11.3%51.3%7.7%39.1%3.7%0.8%175.0K-2.6M-398.7K0.5450.78N/AN/A67736828,21522,082
2025-05-29$51.70$52.5039.0%11.2%51.2%7.5%39.4%2.6%-0.2%151.2K-1.7M-402.0K0.2748.54N/AN/A56815328,34422,057
2025-05-30$51.97$52.5037.8%10.8%49.3%6.9%38.6%3.3%0.9%175.4K-3.4M-398.4K0.3255.32N/AN/A66621228,55622,075