IBKR Options History — March 2025

In March 2025, IBKR traded between $40.29 and $50.23. ATM implied volatility averaged 49.1%, placing in the 63.1% IV rank vs the trailing year. The 30-day expected move averaged 14.2%. IV traded below realized volatility by 9.5% (HV 20d: 58.6%). Max pain ranged from $42.50 to $48.75. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 1.20.

Notable Days

2025-03-10: Highest Volume — 40,680 contracts
2025-03-10: Largest IV spike — 35.4% change
2025-03-03: Highest IV Rank — 100.0%
2025-03-10: Largest Expected Move — 20.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.27	$40.29	$50.23	$50.23	$41.55
Max Pain	$45.63	$42.50	$48.75	$46.25	$43.75
ATM IV	49.1%	39.2%	73.0%	51.4%	52.7%
Expected Move	14.2%	11.6%	20.9%	14.7%	13.3%
HV 20d	58.6%	38.2%	68.6%	44.6%	66.2%
HV 60d	50.1%	41.1%	54.6%	41.1%	54.6%
IV Rank	63.1%	35.3%	100.0%	100.0%	61.2%
IV Percentile	96.5%	90.5%	100.0%	100.0%	98.0%
Term Structure	-3.4%	-8.3%	2.1%	-4.5%	-6.3%
VWIV	49.3%	40.3%	69.2%	53.8%	46.3%
Skew 25d	5.9%	4.4%	8.4%	4.8%	5.8%
Skew 10d	11.0%	4.2%	14.8%	9.9%	11.8%
Call IV 25d	45.0%	37.2%	53.6%	49.6%	50.1%
Put IV 25d	50.9%	42.1%	62.0%	54.3%	55.9%
Bid-Ask Spread %	36.68	16.45	59.69	48.10	21.02
Gamma HHI	0.08	0.06	0.11	0.09	0.07
Net GEX	433.3K	-654.3K	1.8M	1.8M	297.6K
Net DEX	-28.8M	-155.2M	84.1M	-155.2M	-19.6M
Net VEX	-1.3M	-1.5M	-1.1M	-1.4M	-1.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.20	0.23	4.72	2.87	0.46
Total Volume	16,712.571	6,568	40,680	18,520	12,212
Total OI	221,504.19	180,152	250,956	198,100	215,364

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-03-03	$50.23	$46.25	51.4%	14.7%	44.6%	100.0%	53.8%	4.8%	-4.5%	1.8M	-155.2M	-1.4M	2.87	48.10	N/A	N/A	4,788	13,732	114,608	83,492
2025-03-04	$49.20	$46.25	52.7%	15.1%	42.9%	100.0%	55.3%	6.2%	-7.1%	415.9K	-114.3M	-1.4M	2.16	47.99	N/A	N/A	8,608	18,596	115,440	91,400
2025-03-05	$49.33	$46.25	50.8%	14.6%	42.9%	94.1%	53.5%	5.5%	-4.0%	802.8K	-124.7M	-1.4M	0.73	45.03	N/A	N/A	5,792	4,256	116,360	92,492
2025-03-06	$47.09	$46.25	54.8%	15.7%	38.2%	100.0%	58.8%	6.5%	-4.5%	-53.3K	-62.9M	-1.3M	3.47	46.45	N/A	N/A	5,408	18,748	118,792	95,752
2025-03-07	$47.80	$46.25	53.9%	15.4%	38.8%	97.3%	55.0%	6.3%	-4.9%	-12.0K	-85.7M	-1.4M	0.47	54.17	N/A	N/A	6,704	3,164	121,088	98,392
2025-03-10	$41.79	$46.25	73.0%	20.9%	58.2%	100.0%	69.2%	8.4%	-8.3%	-654.3K	72.0M	-1.1M	1.08	41.19	N/A	N/A	19,544	21,136	124,008	99,736
2025-03-11	$42.64	$45.00	54.8%	18.6%	59.7%	65.0%	63.0%	7.4%	-6.9%	-46.0K	41.0M	-1.2M	1.15	37.00	N/A	N/A	13,104	15,112	129,432	101,396
2025-03-12	$42.70	$45.00	49.8%	16.3%	59.8%	55.5%	57.1%	6.0%	-4.7%	47.4K	39.7M	-1.2M	0.64	35.95	N/A	N/A	7,056	4,500	132,956	106,244
2025-03-13	$40.29	$45.00	52.7%	16.4%	58.8%	61.0%	57.5%	6.7%	-6.9%	-111.0K	84.1M	-1.1M	2.26	36.26	N/A	N/A	7,092	16,000	136,052	105,080
2025-03-14	$41.92	$42.50	46.9%	14.2%	61.2%	50.1%	49.0%	6.1%	-4.2%	220.1K	26.5M	-1.1M	0.51	45.86	N/A	N/A	9,984	5,100	136,948	103,864
2025-03-17	$43.64	$47.50	44.6%	12.0%	64.1%	45.6%	40.3%	5.9%	-2.8%	573.3K	-28.9M	-1.2M	0.55	38.73	N/A	N/A	6,456	3,548	138,300	105,124
2025-03-18	$42.97	$47.50	45.1%	12.4%	64.0%	46.6%	41.9%	7.9%	0.6%	715.1K	-9.3M	-1.2M	0.46	33.64	N/A	N/A	4,496	2,072	140,672	105,876
2025-03-19	$44.81	$47.50	43.0%	11.8%	67.1%	42.6%	40.7%	4.6%	-1.9%	818.3K	-77.4M	-1.2M	0.69	52.36	N/A	N/A	5,376	3,728	142,928	106,520
2025-03-20	$43.80	$0.00	43.2%	13.2%	67.0%	42.9%	43.0%	5.1%	2.1%	556.1K	-43.9M	-1.2M	4.72	59.69	N/A	N/A	2,992	14,112	143,520	107,436
2025-03-21	$43.25	$48.75	42.4%	12.5%	66.3%	41.3%	43.2%	5.0%	1.6%	128.7K	-28.4M	-1.2M	0.95	16.72	N/A	N/A	7,604	7,204	144,112	106,840
2025-03-24	$44.93	$46.25	39.2%	11.6%	68.6%	35.3%	40.8%	5.0%	1.1%	1.3M	-41.3M	-1.2M	0.50	18.00	N/A	N/A	8,704	4,340	103,104	77,048
2025-03-25	$44.78	$42.50	39.7%	11.6%	65.5%	36.1%	40.7%	4.4%	0.9%	1.5M	-45.5M	-1.2M	0.78	26.72	N/A	N/A	7,076	5,488	107,744	79,060
2025-03-26	$43.34	$45.00	45.3%	12.0%	65.2%	46.9%	41.1%	5.5%	-3.2%	739.8K	-20.9M	-1.3M	0.23	28.76	N/A	N/A	11,544	2,676	112,424	82,508
2025-03-27	$42.46	$45.00	46.1%	12.1%	65.4%	48.4%	41.4%	5.2%	-3.8%	223.0K	-9.1M	-1.3M	0.24	20.16	N/A	N/A	12,248	2,904	116,716	83,976
2025-03-28	$41.03	$43.75	49.4%	12.9%	65.8%	54.8%	44.1%	5.9%	-4.4%	-166.7K	-1.3M	-1.4M	0.36	16.45	N/A	N/A	13,104	4,656	124,548	84,236
2025-03-31	$41.55	$43.75	52.7%	13.3%	66.2%	61.2%	46.3%	5.8%	-6.3%	297.6K	-19.6M	-1.5M	0.46	21.02	N/A	N/A	8,340	3,872	130,144	85,220