GS Options History — February 2025

In February 2025, GS traded between $607.76 and $668.91. ATM implied volatility averaged 24.3%, placing in the 37.6% IV rank vs the trailing year. The 30-day expected move averaged 7.0%. IV traded above realized volatility by 1.3% (HV 20d: 23.0%). Max pain ranged from $585.00 to $605.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.88.

Notable Days

2025-02-20: Highest Volume — 79,875 contracts
2025-02-21: Largest IV spike — 13.1% change
2025-02-27: Highest IV Rank — 71.9%
2025-02-27: Largest Expected Move — 8.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$641.17	$607.76	$668.91	$632.28	$618.76
Max Pain	$593.42	$585.00	$605.00	$590.00	$605.00
ATM IV	24.3%	21.4%	30.6%	24.3%	29.0%
Expected Move	7.0%	6.1%	8.9%	6.6%	8.5%
HV 20d	23.0%	14.0%	28.7%	28.4%	25.3%
HV 60d	26.6%	24.4%	37.0%	37.0%	26.8%
IV Rank	37.6%	21.5%	71.9%	37.4%	62.9%
IV Percentile	56.4%	25.4%	96.4%	61.5%	92.5%
Term Structure	0.0%	-1.8%	0.5%	-1.8%	-0.1%
VWIV	25.2%	21.8%	31.3%	23.5%	31.3%
Skew 25d	3.1%	2.2%	4.8%	2.9%	4.5%
Skew 10d	6.9%	4.7%	10.1%	6.4%	9.6%
Call IV 25d	23.1%	20.4%	28.9%	22.0%	26.9%
Put IV 25d	26.1%	22.6%	33.6%	24.9%	31.4%
Bid-Ask Spread %	45.27	40.78	55.76	52.83	42.60
Gamma HHI	0.06	0.03	0.14	0.05	0.03
Net GEX	61.8M	-44.5M	181.1M	62.6M	31.1M
Net DEX	-2.86B	-4.30B	-940.2M	-2.66B	-1.49B
Net VEX	-16.2M	-18.4M	-14.8M	-15.4M	-18.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.88	0.32	1.50	1.18	1.45
Total Volume	28,571.211	11,796	79,875	15,631	31,414
Total OI	231,773.474	212,762	255,135	212,762	248,453

Daily Data (19 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 Vol	Put Vol	Call OI	Put OI
2025-02-03	$632.28	$590.00	24.3%	6.6%	28.4%	37.4%	23.5%	2.9%	-1.8%	62.6M	-2.66B	-15.4M	1.18	52.83	7,174	8,457	102,535	110,227
2025-02-04	$634.13	$590.00	22.6%	6.2%	28.4%	28.0%	21.9%	2.7%	0.2%	66.8M	-2.74B	-15.3M	0.86	55.76	6,344	5,452	104,406	113,777
2025-02-05	$645.53	$590.00	22.2%	6.1%	28.7%	25.9%	21.8%	2.7%	0.3%	105.7M	-3.34B	-15.2M	1.01	51.34	9,066	9,188	105,883	115,822
2025-02-06	$655.90	$585.00	21.9%	6.4%	28.3%	24.0%	22.8%	2.3%	0.3%	129.4M	-3.95B	-14.8M	0.88	43.51	18,154	15,903	108,768	119,512
2025-02-07	$656.85	$590.00	22.6%	6.6%	28.3%	28.0%	23.4%	2.7%	0.3%	93.3M	-3.91B	-15.4M	0.96	41.63	17,528	16,915	109,641	124,160
2025-02-10	$650.91	$590.00	22.7%	6.6%	24.9%	28.6%	23.6%	2.6%	0.2%	71.8M	-3.27B	-15.1M	0.98	43.87	9,509	9,348	102,031	115,584
2025-02-11	$648.37	$590.00	22.4%	6.5%	25.2%	27.2%	23.9%	2.6%	0.3%	60.8M	-3.16B	-15.4M	0.79	44.80	9,803	7,711	104,220	119,131
2025-02-12	$648.58	$595.00	22.4%	6.5%	25.3%	26.7%	24.4%	2.6%	0.3%	73.1M	-3.25B	-15.9M	0.66	44.27	8,836	5,841	108,476	121,142
2025-02-13	$649.86	$590.00	21.8%	6.3%	14.9%	23.5%	23.6%	2.6%	0.5%	85.2M	-3.41B	-15.6M	0.48	43.61	13,339	6,463	111,041	122,663
2025-02-14	$661.53	$590.00	21.4%	6.2%	15.5%	21.5%	22.3%	2.2%	0.4%	181.1M	-4.27B	-15.3M	0.51	47.42	28,493	14,530	114,791	124,370
2025-02-18	$668.91	$590.00	22.3%	6.4%	14.4%	26.1%	23.2%	2.4%	0.2%	130.0M	-4.30B	-15.1M	0.63	46.41	17,014	10,718	109,338	115,674
2025-02-19	$668.73	$595.00	22.0%	6.3%	14.0%	24.7%	22.7%	2.2%	0.3%	133.6M	-4.29B	-15.2M	0.85	47.58	11,777	10,038	112,247	120,011
2025-02-20	$643.31	$600.00	23.9%	6.8%	20.2%	35.0%	24.8%	3.1%	0.2%	7.3M	-2.72B	-16.1M	0.92	43.50	41,508	38,367	114,705	124,052
2025-02-21	$626.25	$600.00	27.0%	7.8%	22.1%	52.3%	27.5%	3.9%	-0.3%	-24.3M	-1.83B	-17.5M	1.50	42.37	17,241	25,876	124,570	130,565
2025-02-24	$629.22	$600.00	26.5%	7.7%	22.2%	49.5%	26.7%	3.7%	0.2%	12.2M	-1.95B	-17.6M	1.10	41.99	14,210	15,562	108,664	116,484
2025-02-25	$614.93	$595.00	28.7%	8.4%	23.5%	61.3%	29.7%	4.2%	-0.0%	-6.3M	-1.30B	-17.8M	0.82	40.78	15,683	12,874	113,259	122,759
2025-02-26	$620.44	$595.00	28.4%	8.3%	23.4%	59.6%	29.5%	4.1%	-0.0%	5.1M	-1.58B	-17.9M	0.78	44.27	8,045	6,249	115,524	125,291
2025-02-27	$607.76	$595.00	30.6%	8.9%	24.3%	71.9%	31.1%	4.8%	-0.3%	-44.5M	-940.2M	-18.1M	0.32	41.63	28,979	9,244	116,666	127,254
2025-02-28	$618.76	$605.00	29.0%	8.5%	25.3%	62.9%	31.3%	4.5%	-0.1%	31.1M	-1.49B	-18.4M	1.45	42.60	12,814	18,600	117,651	130,802