IHF Options History — September 2025

In September 2025, IHF traded between $47.20 and $49.38. ATM implied volatility averaged 17.3%, placing in the 22.7% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded above realized volatility by 0.1% (HV 20d: 17.2%). Max pain ranged from $44.00 to $45.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.34.

Notable Days

  • 2025-09-09: Highest Volume — 446 contracts
  • 2025-09-25: Largest IV spike — 31.5% change
  • 2025-09-04: Highest IV Rank — 35.1%
  • 2025-09-03: Largest Expected Move — 6.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$48.34$47.20$49.38$47.31$49.38
Max Pain$44.76$44.00$45.00$45.00$45.00
ATM IV17.3%13.6%22.1%17.2%15.4%
Expected Move4.9%3.9%6.2%4.9%4.4%
HV 20d17.2%15.1%19.6%19.1%16.5%
HV 60d25.2%21.7%26.2%25.2%21.7%
IV Rank22.7%13.3%35.1%22.4%18.0%
IV Percentile29.9%4.0%65.9%28.6%17.1%
Term Structure4.0%-2.6%10.0%5.1%6.3%
VWIV18.0%12.0%22.6%20.4%14.6%
Skew 25d-1.7%-7.8%2.9%1.3%-7.8%
Skew 10d-4.7%-12.7%3.1%-1.5%-11.7%
Call IV 25d18.7%13.1%27.0%13.1%27.0%
Put IV 25d17.0%13.2%20.4%14.5%19.2%
Bid-Ask Spread %113.53102.28121.25113.13116.47
Gamma HHI0.210.170.310.180.18
Net GEX260.9K176.9K423.4K217.7K176.9K
Net DEX-5.6M-7.1M-4.8M-5.0M-5.3M
Net VEX-15.8K-18.8K-11.3K-18.8K-11.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.340.003.673.670.00
Total Volume72.52454461468
Total OI2,766.0482,3743,1722,7102,375

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$47.31$45.0017.2%4.9%19.1%22.4%20.4%1.3%5.1%217.7K-5.0M-18.8K3.67113.13N/AN/A3112,133577
2025-09-03$47.20$45.0021.6%6.2%19.2%33.8%20.7%0.9%-0.4%204.6K-4.8M-18.6K0.00120.62N/AN/A502,132587
2025-09-04$47.27$44.0022.1%4.9%18.5%35.1%0.0%2.9%0.0%207.0K-4.9M-18.2K0.00118.33N/AN/A1902,134587
2025-09-05$47.70$44.0016.0%4.4%18.4%19.4%0.0%-1.0%7.4%237.2K-5.3M-17.6K0.13119.17N/AN/A2432,115587
2025-09-08$47.53$44.0019.4%5.6%17.3%28.2%0.0%0.1%-0.2%215.1K-5.1M-17.7K1.31108.31N/AN/A16212,120585
2025-09-09$48.62$44.0017.3%4.9%18.2%22.8%17.6%-5.4%2.4%227.1K-6.1M-16.6K0.00107.54N/AN/A44422,121605
2025-09-10$48.11$44.0021.1%6.1%19.1%32.6%14.1%1.0%-2.6%345.5K-6.0M-17.7K1.38105.70N/AN/A8112,419605
2025-09-11$49.27$45.0019.2%5.5%19.3%27.7%21.4%1.3%1.7%327.6K-7.1M-16.3K0.01107.33N/AN/A17712,425618
2025-09-12$48.98$45.0020.5%5.9%19.6%31.0%0.0%-6.3%0.7%338.4K-7.0M-16.6K0.00105.39N/AN/A4902,553619
2025-09-15$48.41$45.0017.6%5.0%15.1%23.4%0.0%-3.0%3.0%348.1K-6.4M-16.9K0.57113.08N/AN/A21122,550619
2025-09-16$47.85$45.0015.2%4.4%15.9%17.4%0.0%0.9%6.9%329.5K-5.5M-17.3K0.00119.24N/AN/A802,490631
2025-09-17$47.87$45.0016.2%4.6%15.9%19.8%0.0%0.5%3.0%325.4K-5.6M-17.0K0.01120.96N/AN/A7912,487631
2025-09-18$48.16$45.0014.7%4.2%16.0%16.1%18.3%-1.0%6.3%362.7K-5.7M-15.8K0.00119.16N/AN/A8902,421631
2025-09-19$48.09$45.0015.0%4.3%16.0%16.9%20.6%2.2%5.6%423.4K-5.6M-15.7K0.01117.39N/AN/A16812,400630
2025-09-22$48.59$45.0016.8%4.8%15.9%21.5%12.0%1.0%9.0%197.3K-5.1M-14.4K0.00102.28N/AN/A3802,071435
2025-09-23$48.89$45.0014.7%4.2%15.5%16.0%18.4%-6.6%6.7%208.6K-5.4M-14.0K0.04113.91N/AN/A2512,066435
2025-09-24$49.20$45.0013.6%3.9%15.5%13.3%20.0%-4.8%8.0%206.2K-5.5M-13.9K0.01114.23N/AN/A14112,068436
2025-09-25$48.55$45.0017.9%5.1%16.4%24.3%22.6%-7.3%1.1%200.4K-5.0M-13.1K0.02114.95N/AN/A4512,003437
2025-09-26$49.05$45.0016.2%4.6%16.6%19.9%0.0%-0.1%4.8%190.1K-5.1M-12.0K0.00121.25N/AN/A901,937438
2025-09-29$49.14$45.0015.2%4.4%16.5%17.3%13.4%-4.5%10.0%190.2K-5.3M-11.3K0.05105.62N/AN/A2011,936438
2025-09-30$49.38$45.0015.4%4.4%16.5%18.0%14.6%-7.8%6.3%176.9K-5.3M-11.3K0.00116.47N/AN/A6801,938437