GS Options History — July 2025

In July 2025, GS traded between $697.34 and $731.02. ATM implied volatility averaged 25.9%, placing in the 12.4% IV rank vs the trailing year. The 30-day expected move averaged 7.4%. IV traded above realized volatility by 4.7% (HV 20d: 21.2%). Max pain ranged from $610.00 to $665.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.87.

Notable Days

2025-07-16: Highest Volume — 64,166 contracts
2025-07-16: Largest IV drop — 12.4% change
2025-07-07: Highest IV Rank — 19.8%
2025-07-01: Largest Expected Move — 8.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$713.06	$697.34	$731.02	$707.53	$726.42
Max Pain	$639.77	$610.00	$665.00	$615.00	$665.00
ATM IV	25.9%	22.6%	29.6%	29.1%	25.8%
Expected Move	7.4%	6.2%	8.9%	8.9%	7.1%
HV 20d	21.2%	17.6%	24.1%	20.2%	17.6%
HV 60d	26.9%	21.7%	43.8%	43.8%	21.7%
IV Rank	12.4%	5.8%	19.8%	18.9%	12.4%
IV Percentile	44.6%	17.9%	73.0%	69.4%	41.7%
Term Structure	-0.1%	-2.9%	1.0%	-0.6%	-2.9%
VWIV	26.3%	22.3%	32.2%	32.2%	25.4%
Skew 25d	3.1%	2.8%	3.5%	3.1%	3.5%
Skew 10d	7.4%	6.3%	13.4%	7.4%	13.4%
Call IV 25d	24.6%	21.1%	28.0%	27.9%	24.9%
Put IV 25d	27.7%	23.9%	31.5%	30.9%	28.3%
Bid-Ask Spread %	7.61	5.61	9.28	6.57	6.71
Gamma HHI	0.06	0.03	0.27	0.06	0.04
Net GEX	134.9M	52.8M	318.3M	170.3M	124.6M
Net DEX	-4.85B	-6.30B	-3.64B	-5.49B	-4.65B
Net VEX	-22.4M	-23.5M	-21.6M	-21.7M	-23.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.87	0.51	1.33	1.17	1.28
Total Volume	29,711.864	16,049	64,166	26,797	16,049
Total OI	278,053.5	249,285	310,332	273,482	280,087

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 Vol	Put Vol	Call OI	Put OI
2025-07-01	$707.53	$615.00	29.1%	8.9%	20.2%	18.9%	32.2%	3.1%	-0.6%	170.3M	-5.49B	-21.7M	1.17	6.57	12,356	14,441	136,284	137,198
2025-07-02	$716.02	$620.00	28.9%	8.9%	20.3%	18.5%	32.2%	3.1%	-0.4%	211.9M	-5.94B	-21.9M	0.74	5.61	24,200	17,920	139,818	141,795
2025-07-03	$723.25	$610.00	28.7%	8.0%	19.5%	18.1%	29.0%	3.1%	-0.5%	309.4M	-6.30B	-22.0M	0.53	8.16	21,551	11,456	142,959	146,478
2025-07-07	$708.44	$620.00	29.6%	8.3%	22.2%	19.8%	29.5%	3.5%	-0.5%	87.8M	-4.85B	-22.0M	1.13	7.70	13,059	14,785	131,402	135,275
2025-07-08	$697.49	$625.00	29.4%	8.3%	23.6%	19.5%	28.7%	3.5%	-0.6%	56.6M	-4.26B	-22.5M	0.90	8.43	18,110	16,360	133,624	140,454
2025-07-09	$697.34	$630.00	27.2%	7.8%	23.5%	15.0%	27.1%	3.3%	-0.0%	52.8M	-4.32B	-22.0M	1.33	8.96	9,578	12,776	138,148	145,431
2025-07-10	$709.90	$630.00	27.7%	7.8%	23.7%	16.0%	27.9%	2.8%	-0.4%	120.3M	-5.15B	-21.6M	0.55	9.18	16,951	9,382	140,210	152,144
2025-07-11	$704.45	$635.00	28.0%	7.9%	24.1%	16.7%	28.0%	3.1%	-0.4%	67.5M	-4.86B	-21.9M	1.21	9.28	8,398	10,152	143,715	154,533
2025-07-14	$711.78	$635.00	28.2%	8.0%	24.1%	17.1%	28.8%	2.8%	-0.3%	103.1M	-4.98B	-22.2M	0.87	8.37	9,994	8,687	133,779	136,254
2025-07-15	$702.96	$640.00	27.7%	7.9%	22.8%	16.0%	28.1%	3.0%	-0.3%	90.4M	-4.60B	-21.9M	0.83	8.69	20,603	17,079	137,219	139,685
2025-07-16	$707.83	$640.00	24.2%	7.0%	21.7%	9.2%	25.0%	3.1%	-0.4%	121.8M	-4.92B	-21.7M	0.87	7.78	34,352	29,814	144,761	147,333
2025-07-17	$705.79	$640.00	23.5%	6.7%	21.6%	7.7%	24.8%	2.9%	0.3%	123.1M	-4.85B	-22.2M	0.90	7.22	22,397	20,252	149,423	152,230
2025-07-18	$707.99	$640.00	23.2%	6.6%	21.2%	7.1%	23.5%	2.8%	0.4%	102.6M	-4.97B	-22.9M	0.86	6.69	16,152	13,910	152,523	157,809
2025-07-21	$706.56	$650.00	23.3%	6.6%	21.3%	7.3%	24.0%	3.1%	0.8%	78.0M	-3.85B	-22.7M	0.91	7.03	10,313	9,380	123,858	125,427
2025-07-22	$702.23	$650.00	23.2%	6.6%	21.7%	7.1%	23.2%	3.3%	0.8%	60.8M	-3.64B	-22.6M	0.68	8.06	11,092	7,558	128,030	129,843
2025-07-23	$717.97	$650.00	23.6%	6.8%	21.2%	7.8%	24.2%	2.8%	0.7%	140.4M	-4.50B	-22.6M	0.59	7.05	23,713	13,920	129,394	132,285
2025-07-24	$720.69	$650.00	23.2%	6.6%	21.2%	7.2%	23.5%	2.8%	0.8%	202.4M	-4.81B	-22.6M	0.51	6.32	24,242	12,415	136,522	137,427
2025-07-25	$729.38	$655.00	22.6%	6.2%	19.2%	5.8%	22.7%	2.8%	1.0%	318.3M	-5.27B	-22.8M	0.65	6.65	24,230	15,868	137,393	139,078
2025-07-28	$723.90	$655.00	22.9%	6.2%	19.5%	6.4%	22.3%	3.2%	0.3%	131.5M	-4.64B	-22.9M	0.88	7.07	9,798	8,575	130,125	132,538
2025-07-29	$731.02	$660.00	24.2%	6.7%	17.9%	9.1%	23.9%	2.9%	-0.4%	159.9M	-5.01B	-22.9M	0.90	7.30	12,774	11,484	132,886	135,599
2025-07-30	$728.30	$660.00	25.3%	7.0%	18.0%	11.2%	25.5%	3.5%	-0.6%	135.1M	-4.77B	-23.4M	0.93	8.60	9,104	8,431	135,284	140,917
2025-07-31	$726.42	$665.00	25.8%	7.1%	17.6%	12.4%	25.4%	3.5%	-2.9%	124.6M	-4.65B	-23.5M	1.28	6.71	7,044	9,005	136,979	143,108