IP Options History — August 2025

In August 2025, IP traded between $46.20 and $49.61. ATM implied volatility averaged 28.6%, placing in the 17.5% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded below realized volatility by 21.1% (HV 20d: 49.7%). Max pain ranged from $47.50 to $52.50. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 1.33.

Notable Days

  • 2025-08-01: Highest Volume — 3,988 contracts
  • 2025-08-04: Largest IV drop — 17.3% change
  • 2025-08-01: Highest IV Rank — 33.3%
  • 2025-08-01: Largest Expected Move — 9.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$47.78$46.20$49.61$46.25$49.61
Max Pain$50.00$47.50$52.50$47.50$50.00
ATM IV28.6%26.7%36.1%36.1%28.1%
Expected Move8.0%7.7%9.4%9.4%7.7%
HV 20d49.7%24.5%54.0%52.3%24.5%
HV 60d37.6%36.4%40.6%40.6%37.1%
IV Rank17.5%13.7%33.3%33.3%16.5%
IV Percentile40.1%30.2%86.9%86.9%34.9%
Term Structure0.2%-6.4%6.9%-6.4%0.5%
VWIV27.9%26.0%33.5%33.5%26.0%
Skew 25d3.0%-2.7%15.2%15.2%3.3%
Skew 10d4.7%-10.9%18.7%18.7%-10.9%
Call IV 25d27.1%24.9%32.4%32.4%26.8%
Put IV 25d30.1%24.0%47.6%47.6%30.0%
Bid-Ask Spread %75.6360.7491.3875.6170.71
Gamma HHI0.160.080.290.250.15
Net GEX857.8K-1.3M2.6M-1.3M2.4M
Net DEX-757.8K-28.1M29.1M29.1M-25.6M
Net VEX-328.6K-363.8K-291.1K-306.1K-360.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.330.1215.922.540.85
Total Volume1,358.3814583,9883,988670
Total OI61,091.09555,79571,45871,45861,045

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-08-01$46.25$47.5036.1%9.4%52.3%33.3%33.5%15.2%-6.4%-1.3M29.1M-306.1K2.5475.611,1252,86347,80423,654
2025-08-04$46.20$52.5029.8%8.3%52.1%20.2%27.4%2.8%0.1%-968.2K23.7M-291.1K0.7177.581,8131,29338,74221,361
2025-08-05$46.22$50.0029.1%8.3%51.2%18.6%28.2%3.6%0.1%-1.3M23.1M-301.1K0.9974.6158157839,92922,423
2025-08-06$46.30$50.0028.4%7.9%51.0%17.2%29.0%2.6%-0.1%-1.3M20.5M-304.9K0.4976.3240219840,39522,464
2025-08-07$48.15$50.0028.4%8.2%52.6%17.2%30.2%3.6%1.5%433.1K-495.4K-347.7K0.5777.6567438740,67222,535
2025-08-08$47.53$50.0028.6%7.9%52.6%17.5%27.2%2.9%-4.5%-308.8K6.7M-325.5K0.2477.1461014541,06222,787
2025-08-11$47.14$50.0029.0%8.3%52.6%18.4%28.9%-2.6%-0.4%-48.1K8.8M-318.8K0.4685.5950523241,13520,917
2025-08-12$48.42$50.0026.7%7.8%53.4%13.7%27.1%2.4%0.6%1.3M-1.4M-326.0K0.2884.221,19033841,49021,030
2025-08-13$48.79$50.0027.6%7.7%53.4%15.5%28.3%5.1%-1.4%1.7M-7.6M-342.0K0.1491.382,33031841,91821,161
2025-08-14$47.86$50.0027.8%7.9%53.6%16.0%27.4%-1.7%0.3%1.5M-719.6K-336.2K0.4880.051,01949143,93721,273
2025-08-15$46.73$50.0026.9%7.7%54.0%14.0%26.8%-2.7%0.1%515.1K11.1M-314.4K0.8583.7150643143,48721,442
2025-08-18$46.95$50.0027.1%7.7%53.5%14.4%26.7%3.1%0.8%830.4K5.5M-307.1K0.3460.7474925538,18517,610
2025-08-19$47.20$50.0028.5%8.2%52.5%17.4%27.8%2.3%3.7%1.1M1.1M-318.4K0.4169.2739816238,67717,754
2025-08-20$47.21$50.0028.1%8.1%51.0%16.5%28.9%3.0%0.8%1.1M-122.7K-316.6K0.2274.374469938,89317,481
2025-08-21$47.95$50.0028.7%8.2%51.0%17.9%27.5%3.5%0.1%1.5M-8.4M-329.8K0.1571.2193114039,19217,511
2025-08-22$49.11$50.0029.7%7.7%51.7%20.0%26.1%3.0%6.9%2.1M-23.9M-358.2K0.1276.732,80432839,71517,578
2025-08-25$49.39$50.0027.6%7.7%51.9%15.4%26.7%4.5%0.6%2.6M-28.1M-363.8K0.7965.2635527941,18717,484
2025-08-26$48.78$50.0028.5%8.3%51.6%17.4%28.0%3.9%0.4%2.1M-18.4M-345.5K0.9472.4423622241,38817,647
2025-08-27$48.57$50.0027.9%7.9%51.5%16.1%28.0%3.0%0.9%1.9M-13.2M-333.2K15.9270.651091,73541,43917,759
2025-08-28$49.05$50.0027.4%7.7%25.9%15.1%26.9%2.7%0.3%2.2M-17.6M-354.8K0.4472.9440317641,46319,287
2025-08-29$49.61$50.0028.1%7.7%24.5%16.5%26.0%3.3%0.5%2.4M-25.6M-360.3K0.8570.7136230841,62919,416