HLN Options History — May 2025

In May 2025, HLN traded between $10.30 and $11.34. ATM implied volatility averaged 34.0%, placing in the 24.5% IV rank vs the trailing year. The 30-day expected move averaged 6.8%. IV traded above realized volatility by 6.0% (HV 20d: 28.0%). Max pain ranged from $10.00 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.35.

Notable Days

2025-05-20: Highest Volume — 3,421 contracts
2025-05-06: Largest IV spike — 119.1% change
2025-05-13: Highest IV Rank — 60.1%
2025-05-02: Largest Expected Move — 10.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.85	$10.30	$11.34	$10.30	$11.34
Max Pain	$10.00	$10.00	$10.00	$10.00	$10.00
ATM IV	34.0%	17.8%	69.0%	20.6%	30.9%
Expected Move	6.8%	5.1%	10.8%	5.9%	8.9%
HV 20d	28.0%	21.2%	44.5%	43.6%	21.2%
HV 60d	32.0%	29.3%	32.8%	31.8%	29.3%
IV Rank	24.5%	8.0%	60.1%	10.9%	21.3%
IV Percentile	62.2%	22.2%	98.8%	38.1%	79.0%
Term Structure	-1.6%	-25.1%	26.3%	-1.1%	-5.9%
VWIV	24.5%	18.4%	41.9%	24.2%	24.3%
Skew 25d	4.0%	-12.9%	14.3%	-8.5%	9.0%
Skew 10d	37.3%	-0.2%	207.9%	207.9%	6.3%
Call IV 25d	21.5%	16.9%	30.5%	29.9%	18.0%
Put IV 25d	25.5%	15.5%	40.1%	21.4%	27.0%
Bid-Ask Spread %	87.80	74.84	98.79	96.18	83.12
Gamma HHI	0.55	0.50	0.77	0.77	0.50
Net GEX	71.0K	38.7K	118.2K	70.4K	111.5K
Net DEX	-2.1M	-4.1M	-955.2K	-1.1M	-4.0M
Net VEX	-4.8K	-8.6K	-2.8K	-3.3K	-7.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.35	0.00	6.25	0.24	0.10
Total Volume	340.476	15	3,421	21	53
Total OI	4,103.524	2,122	5,869	3,243	5,749

Daily Data (21 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
2025-05-01	$10.30	$10.00	20.6%	5.9%	43.6%	10.9%	24.2%	-8.5%	-1.1%	70.4K	-1.1M	-3.3K	0.24	96.18	17	4	2,881	362
2025-05-02	$10.70	$10.00	37.7%	10.8%	44.5%	28.2%	35.4%	9.6%	-12.8%	56.2K	-1.4M	-3.3K	0.01	87.44	180	1	2,887	360
2025-05-05	$10.61	$10.00	23.6%	6.6%	40.5%	13.9%	0.0%	2.1%	-0.6%	49.4K	-1.5M	-3.2K	6.25	92.83	32	200	2,990	361
2025-05-06	$10.68	$10.00	51.7%	7.4%	30.3%	42.5%	0.0%	4.4%	-2.3%	52.9K	-1.4M	-3.5K	0.00	98.79	15	0	2,994	561
2025-05-07	$10.79	$10.00	54.7%	7.0%	30.2%	45.5%	18.4%	11.2%	4.3%	53.2K	-1.5M	-3.5K	0.04	93.04	55	2	2,985	561
2025-05-08	$10.59	$10.00	67.4%	7.4%	28.6%	58.5%	0.0%	0.0%	-4.0%	51.7K	-1.3M	-3.5K	0.00	96.36	52	0	3,005	561
2025-05-09	$10.75	$10.00	53.4%	7.4%	28.3%	44.2%	21.9%	6.9%	-1.0%	51.5K	-1.5M	-3.5K	0.01	89.05	142	2	3,047	561
2025-05-12	$10.70	$10.00	65.9%	7.4%	24.6%	57.0%	0.0%	8.6%	-1.2%	51.8K	-1.5M	-3.2K	0.00	88.47	108	0	3,156	562
2025-05-13	$10.46	$10.00	69.0%	6.0%	26.0%	60.1%	21.1%	-2.5%	2.5%	55.5K	-1.2M	-3.2K	0.04	88.82	24	1	3,234	562
2025-05-14	$10.43	$10.00	21.4%	6.1%	26.0%	11.7%	21.4%	-2.4%	3.6%	56.3K	-1.2M	-3.2K	0.48	88.85	21	10	3,242	562
2025-05-15	$10.66	$10.00	18.9%	5.4%	27.0%	9.2%	0.0%	9.1%	26.3%	52.6K	-1.5M	-3.0K	0.00	96.60	70	0	3,249	567
2025-05-16	$10.79	$10.00	34.7%	10.0%	27.0%	25.2%	41.9%	-12.9%	-25.1%	38.7K	-1.7M	-3.0K	0.07	81.14	122	8	3,254	567
2025-05-19	$10.89	$10.00	21.2%	6.1%	26.9%	11.5%	0.0%	7.5%	-3.5%	38.9K	-955.2K	-2.8K	0.00	82.35	210	1	1,959	163
2025-05-20	$11.00	$10.00	18.3%	5.2%	25.7%	8.5%	18.4%	6.5%	5.1%	40.5K	-1.1M	-3.5K	0.01	79.33	3,390	31	2,096	164
2025-05-21	$11.11	$10.00	23.7%	6.8%	23.8%	14.0%	28.3%	3.9%	-6.4%	93.2K	-3.2M	-6.4K	0.01	77.20	1,233	10	4,328	192
2025-05-22	$11.07	$10.00	20.6%	5.9%	23.8%	10.9%	0.0%	0.9%	0.5%	106.7K	-3.4M	-8.6K	0.00	93.07	416	1	5,187	193
2025-05-23	$11.14	$10.00	22.8%	6.5%	23.0%	13.1%	22.1%	5.5%	-5.4%	112.4K	-3.8M	-8.6K	0.00	74.84	117	0	5,477	196
2025-05-27	$11.23	$10.00	20.3%	5.8%	23.0%	10.5%	22.1%	3.5%	-5.9%	114.9K	-3.9M	-8.0K	0.02	79.07	300	7	5,553	196
2025-05-28	$11.27	$10.00	19.9%	5.7%	23.0%	10.2%	19.8%	14.3%	0.8%	118.2K	-4.1M	-7.7K	0.07	89.29	122	8	5,672	197
2025-05-29	$11.32	$10.00	17.8%	5.1%	21.7%	8.0%	24.2%	6.9%	-1.0%	113.5K	-4.0M	-7.4K	0.06	87.96	175	10	5,576	205
2025-05-30	$11.34	$10.00	30.9%	8.9%	21.2%	21.3%	24.3%	9.0%	-5.9%	111.5K	-4.0M	-7.5K	0.10	83.12	48	5	5,534	215