DOCS Options History — July 2025

In July 2025, DOCS traded between $58.31 and $63.30. ATM implied volatility averaged 74.2%, placing in the 24.6% IV rank vs the trailing year. The 30-day expected move averaged 22.5%. IV traded above realized volatility by 38.5% (HV 20d: 35.7%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 2 of 22 days. Put/call ratio averaged 0.68.

Notable Days

2025-07-09: Highest Volume — 3,395 contracts
2025-07-09: Largest IV spike — 77.2% change
2025-07-31: Highest IV Rank — 38.8%
2025-07-31: Largest Expected Move — 29.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$60.70	$58.31	$63.30	$58.31	$58.96
Max Pain	$59.55	$55.00	$60.00	$55.00	$60.00
ATM IV	74.2%	36.5%	103.3%	36.5%	103.3%
Expected Move	22.5%	10.5%	29.6%	10.5%	29.6%
HV 20d	35.7%	31.6%	38.1%	37.0%	31.6%
HV 60d	42.8%	40.1%	50.4%	50.4%	40.1%
IV Rank	24.6%	6.2%	38.8%	6.2%	38.8%
IV Percentile	68.7%	21.0%	89.3%	21.0%	89.3%
Term Structure	-17.4%	-40.8%	31.1%	31.1%	-40.8%
VWIV	78.7%	37.0%	102.4%	37.0%	102.4%
Skew 25d	1.8%	0.5%	3.5%	1.7%	3.5%
Skew 10d	6.1%	4.5%	8.3%	4.6%	6.9%
Call IV 25d	77.4%	37.1%	100.1%	37.1%	100.1%
Put IV 25d	79.2%	38.8%	103.6%	38.8%	103.6%
Bid-Ask Spread %	44.60	35.40	76.33	70.05	42.00
Gamma HHI	0.15	0.06	0.57	0.15	0.06
Net GEX	1.1M	103.8K	2.8M	944.2K	123.5K
Net DEX	-36.9M	-60.2M	-20.0M	-27.6M	-20.4M
Net VEX	-391.9K	-414.0K	-363.4K	-410.4K	-368.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.68	0.10	1.77	0.69	1.08
Total Volume	983.045	258	3,395	699	613
Total OI	44,018.318	41,521	47,706	43,036	43,946

Daily Data (22 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
2025-07-01	$58.31	$55.00	36.5%	10.5%	37.0%	6.2%	37.0%	1.7%	31.1%	944.2K	-27.6M	-410.4K	0.69	70.05	N/A	N/A	413	286	22,223	20,813
2025-07-02	$59.12	$55.00	38.2%	10.9%	35.9%	7.1%	38.5%	1.8%	30.3%	1.0M	-33.4M	-413.9K	0.43	76.33	N/A	N/A	269	115	22,310	20,933
2025-07-03	$61.44	$60.00	37.7%	19.7%	37.3%	6.8%	69.2%	1.5%	-11.1%	1.2M	-45.1M	-414.0K	0.28	46.58	N/A	N/A	292	82	22,048	20,968
2025-07-07	$60.70	$60.00	41.0%	20.5%	34.8%	8.4%	71.2%	1.7%	-12.4%	1.3M	-40.8M	-403.2K	0.35	45.44	N/A	N/A	302	107	22,049	21,006
2025-07-08	$61.64	$60.00	41.3%	20.6%	33.5%	8.6%	71.6%	1.1%	-12.8%	1.3M	-46.6M	-400.8K	0.10	48.05	N/A	N/A	1,466	148	22,103	21,041
2025-07-09	$63.30	$60.00	73.1%	21.0%	34.1%	24.1%	73.4%	2.0%	-13.9%	1.7M	-60.2M	-410.5K	0.31	35.40	N/A	N/A	2,598	797	23,170	21,081
2025-07-10	$60.61	$60.00	74.1%	21.2%	38.1%	24.6%	73.8%	1.6%	-13.7%	1.5M	-41.5M	-400.9K	0.12	41.27	N/A	N/A	1,728	211	23,198	21,383
2025-07-11	$60.14	$60.00	75.6%	21.7%	38.0%	25.3%	75.7%	1.1%	-15.7%	1.6M	-40.1M	-408.8K	0.75	35.89	N/A	N/A	754	569	24,462	21,477
2025-07-14	$61.27	$60.00	77.3%	22.2%	37.8%	26.1%	77.6%	1.5%	-17.9%	1.8M	-47.7M	-403.9K	0.43	41.58	N/A	N/A	1,020	442	24,397	21,836
2025-07-15	$61.72	$60.00	76.9%	22.0%	36.8%	25.9%	78.3%	1.5%	-17.2%	2.1M	-50.4M	-401.6K	1.28	43.02	N/A	N/A	486	622	24,655	22,149
2025-07-16	$62.39	$60.00	78.6%	22.5%	36.8%	26.8%	81.4%	1.8%	-18.8%	2.3M	-55.1M	-399.8K	1.56	41.02	N/A	N/A	307	480	24,802	22,586
2025-07-17	$62.00	$60.00	79.0%	22.7%	34.6%	27.0%	79.1%	2.1%	-19.2%	2.5M	-52.0M	-394.0K	0.37	38.89	N/A	N/A	1,094	406	24,762	22,944
2025-07-18	$60.42	$60.00	80.8%	23.2%	35.5%	27.8%	80.8%	1.6%	-20.2%	2.8M	-40.8M	-388.4K	0.17	41.45	N/A	N/A	1,155	195	24,351	23,076
2025-07-21	$60.58	$60.00	83.0%	23.8%	35.5%	28.9%	83.2%	2.0%	-21.9%	151.0K	-26.9M	-383.6K	0.31	35.70	N/A	N/A	619	193	19,556	21,965
2025-07-22	$59.66	$60.00	85.1%	24.4%	35.7%	29.9%	86.5%	2.0%	-23.9%	132.4K	-23.5M	-380.7K	1.77	41.90	N/A	N/A	233	413	19,752	22,075
2025-07-23	$61.22	$60.00	85.8%	24.6%	36.6%	30.3%	84.9%	2.4%	-24.4%	175.7K	-29.8M	-381.9K	0.28	40.48	N/A	N/A	272	76	19,800	22,367
2025-07-24	$60.85	$60.00	87.4%	25.0%	35.8%	31.0%	87.3%	2.2%	-26.2%	177.7K	-28.2M	-379.4K	1.19	37.21	N/A	N/A	118	140	19,972	22,366
2025-07-25	$60.78	$60.00	89.0%	25.5%	35.7%	31.8%	88.2%	2.2%	-28.9%	179.1K	-28.1M	-375.6K	0.51	42.61	N/A	N/A	369	189	19,971	22,428
2025-07-28	$61.29	$60.00	94.2%	27.0%	35.8%	34.4%	93.8%	2.3%	-32.8%	211.4K	-30.1M	-371.3K	1.02	39.34	N/A	N/A	288	294	20,091	22,459
2025-07-29	$59.92	$60.00	96.5%	27.7%	36.5%	35.5%	96.4%	0.5%	-35.6%	150.7K	-24.3M	-366.8K	1.51	42.16	N/A	N/A	138	208	20,172	22,668
2025-07-30	$58.97	$60.00	98.0%	28.1%	32.0%	36.2%	100.5%	1.8%	-36.8%	103.8K	-20.0M	-363.4K	0.50	54.91	N/A	N/A	745	375	20,231	22,761
2025-07-31	$58.96	$60.00	103.3%	29.6%	31.6%	38.8%	102.4%	3.5%	-40.8%	123.5K	-20.4M	-368.5K	1.08	42.00	N/A	N/A	294	319	20,868	23,078