EXI Options History — September 2025

In September 2025, EXI traded between $166.75 and $172.37. ATM implied volatility averaged 15.2%, placing in the 4.9% IV rank vs the trailing year. The 30-day expected move averaged 4.4%. IV traded above realized volatility by 2.9% (HV 20d: 12.3%). Max pain ranged from $174.00 to $174.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 20 of 21 days.

Notable Days

  • 2025-09-17: Largest IV drop — 11.3% change
  • 2025-09-25: Highest IV Rank — 7.5%
  • 2025-09-25: Largest Expected Move — 4.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$170.34$166.75$172.37$166.75$172.25
Max Pain$174.00$174.00$174.00$174.00$174.00
ATM IV15.2%14.1%16.5%15.0%14.9%
Expected Move4.4%4.1%4.7%4.3%4.3%
HV 20d12.3%10.6%13.3%12.1%10.6%
HV 60d12.4%12.0%12.9%12.5%12.1%
IV Rank4.9%2.8%7.5%4.7%4.3%
IV Percentile34.4%14.3%54.0%33.3%29.0%
Term Structure0.8%-1.0%1.6%0.3%1.1%
Skew 25d3.4%-2.0%6.3%1.4%1.2%
Skew 10d4.3%-0.6%8.8%-0.6%3.9%
Call IV 25d11.4%8.3%13.8%13.3%12.7%
Put IV 25d14.8%11.4%16.2%14.7%14.0%
Bid-Ask Spread %126.82113.09144.78123.27144.78
Gamma HHI1.001.001.001.001.00
Net GEX-1.2K-2.9K0-8060
Net DEX9.4K015.6K15.6K0
Net VEX-3-90-50
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI0.6670110

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$166.75$174.0015.0%4.3%12.1%4.7%0.0%1.4%0.3%-80615.6K-50.00123.27N/AN/A0001
2025-09-03$166.81$174.0014.8%4.3%12.1%4.3%0.0%-2.0%-1.0%-79115.6K-40.00122.51N/AN/A0001
2025-09-04$168.07$0.0014.7%4.4%12.4%3.9%0.0%5.0%1.6%-1.2K15.0K-70.00113.09N/AN/A0001
2025-09-05$168.78$0.0014.1%4.1%12.4%2.8%0.0%5.3%0.6%-1.4K14.8K-70.00123.07N/AN/A0001
2025-09-08$169.63$0.0014.7%4.3%12.4%4.0%0.0%5.6%0.8%-1.7K14.3K-70.00113.53N/AN/A0001
2025-09-09$167.94$0.0015.5%4.5%12.7%5.5%0.0%4.8%0.5%-1.1K15.3K-50.00117.10N/AN/A0001
2025-09-10$170.08$0.0015.0%4.3%12.3%4.6%0.0%5.1%1.1%-1.7K14.4K-60.00121.89N/AN/A0001
2025-09-11$171.56$0.0014.9%4.3%12.6%4.5%0.0%3.5%1.1%-2.6K12.4K-90.00118.45N/AN/A0001
2025-09-12$170.30$0.0015.1%4.3%13.0%4.7%0.0%4.6%0.8%-2.0K13.7K-60.00119.18N/AN/A0001
2025-09-15$171.89$0.0015.6%4.5%13.2%5.8%0.0%2.3%0.9%-2.7K11.9K-60.00119.76N/AN/A0001
2025-09-16$171.25$0.0016.4%4.7%13.2%7.3%0.0%2.7%0.8%-2.5K13.1K-50.00121.74N/AN/A0001
2025-09-17$170.76$0.0014.5%4.2%13.3%3.7%0.0%4.0%1.2%-2.2K14.2K-30.00129.69N/AN/A0001
2025-09-18$171.73$0.0015.0%4.3%13.2%4.6%0.0%2.4%1.3%-2.9K12.9K-30.00124.55N/AN/A0001
2025-09-19$170.69$0.0015.1%4.3%13.3%4.8%0.0%3.0%0.8%-2.2K14.4K00.00132.20N/AN/A0001
2025-09-22$171.61$0.0014.8%4.2%11.9%4.2%0.0%3.7%1.1%0000.00134.75N/AN/A0000
2025-09-23$172.25$0.0016.1%4.6%11.3%6.8%0.0%6.3%0.8%0000.00133.62N/AN/A0000
2025-09-24$171.50$0.0016.3%4.7%11.4%7.2%0.0%4.3%0.9%0000.00131.55N/AN/A0000
2025-09-25$170.03$0.0016.5%4.7%11.9%7.5%0.0%2.6%0.3%0000.00135.65N/AN/A0000
2025-09-26$170.88$0.0014.9%4.3%11.7%4.4%0.0%1.3%1.2%0000.00139.45N/AN/A0000
2025-09-29$172.37$0.0014.6%4.2%11.6%3.8%0.0%4.2%1.3%0000.00143.50N/AN/A0000
2025-09-30$172.25$0.0014.9%4.3%10.6%4.3%0.0%1.2%1.1%0000.00144.78N/AN/A0000