IT Options History — January 2025

In January 2025, IT traded between $482.30 and $547.38. ATM implied volatility averaged 29.0%, placing in the 29.0% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded above realized volatility by 12.0% (HV 20d: 16.9%). Max pain ranged from $440.00 to $520.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.37.

Notable Days

2025-01-30: Highest Volume — 568 contracts
2025-01-13: Largest IV spike — 20.6% change
2025-01-30: Highest IV Rank — 52.0%
2025-01-30: Largest Expected Move — 10.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$512.89	$482.30	$547.38	$482.30	$542.37
Max Pain	$492.00	$440.00	$520.00	$490.00	$520.00
ATM IV	29.0%	18.4%	38.0%	21.3%	35.1%
Expected Move	8.9%	5.3%	10.9%	6.1%	10.1%
HV 20d	16.9%	15.4%	19.7%	16.8%	17.2%
HV 60d	19.9%	19.0%	21.0%	19.2%	20.6%
IV Rank	29.0%	2.2%	52.0%	9.7%	44.7%
IV Percentile	66.7%	2.4%	88.9%	47.6%	84.5%
Term Structure	-3.7%	-9.2%	10.8%	7.9%	-9.2%
VWIV	32.2%	21.3%	42.6%	21.3%	37.0%
Skew 25d	2.9%	0.3%	6.9%	3.2%	2.3%
Skew 10d	6.7%	-5.6%	19.1%	4.4%	2.7%
Call IV 25d	30.2%	20.0%	35.0%	20.1%	35.0%
Put IV 25d	33.1%	21.1%	39.1%	23.3%	37.3%
Bid-Ask Spread %	77.00	63.84	92.69	91.42	81.13
Gamma HHI	0.19	0.13	0.25	0.16	0.15
Net GEX	342.9K	-284.0K	957.6K	-284.0K	957.6K
Net DEX	-7.6M	-18.2M	1.7M	1.7M	-17.0M
Net VEX	-58.0K	-81.6K	-46.0K	-46.5K	-81.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.00	2.00	0.22	0.67
Total Volume	83.65	2	568	33	155
Total OI	1,067.5	902	1,546	975	1,546

Daily Data (20 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
2025-01-02	$482.30	$490.00	21.3%	6.1%	16.8%	9.7%	21.3%	3.2%	7.9%	-284.0K	1.7M	-46.5K	0.22	91.42	27	6	536	439
2025-01-03	$485.98	$480.00	18.4%	5.3%	16.3%	2.2%	42.6%	1.1%	10.8%	-198.8K	786.2K	-46.6K	1.00	92.69	3	3	553	445
2025-01-06	$489.21	$490.00	20.5%	8.6%	16.6%	7.8%	0.0%	2.6%	-2.5%	-151.3K	70.6K	-46.1K	0.00	73.72	2	0	555	446
2025-01-07	$488.21	$490.00	21.7%	8.6%	16.6%	10.7%	0.0%	2.0%	-3.1%	-150.1K	226.4K	-46.0K	0.02	67.63	42	1	557	446
2025-01-08	$493.32	$490.00	19.9%	8.6%	17.1%	6.2%	29.3%	2.8%	-2.7%	-60.2K	-1.8M	-49.1K	0.00	71.56	2	0	576	447
2025-01-10	$488.59	$490.00	22.5%	8.6%	17.2%	12.9%	30.0%	2.8%	-2.8%	-151.5K	-648.0K	-48.6K	0.00	69.00	0	8	576	447
2025-01-13	$491.79	$500.00	27.2%	9.1%	17.0%	24.1%	31.2%	3.2%	-3.4%	-104.4K	-1.3M	-47.7K	0.00	68.00	2	0	576	450
2025-01-14	$498.40	$490.00	26.7%	9.0%	17.9%	22.9%	31.0%	2.8%	-3.3%	-52.7K	-2.4M	-47.2K	0.02	66.76	134	3	578	450
2025-01-15	$511.43	$490.00	31.1%	8.9%	19.7%	34.2%	31.0%	3.8%	-3.9%	61.7K	-4.5M	-46.2K	0.00	63.84	423	2	693	453
2025-01-16	$513.15	$490.00	31.6%	9.1%	19.5%	35.5%	31.1%	1.0%	-5.1%	702.6K	-9.1M	-64.3K	2.00	72.38	2	4	974	453
2025-01-17	$514.35	$490.00	29.8%	8.5%	19.0%	30.8%	28.5%	2.7%	-2.5%	541.1K	-9.5M	-62.9K	0.00	80.44	43	0	975	454
2025-01-21	$526.58	$440.00	32.0%	9.2%	15.5%	36.7%	32.4%	0.3%	-5.2%	675.4K	-11.6M	-63.2K	0.72	78.15	18	13	574	328
2025-01-22	$522.89	$490.00	33.3%	9.5%	16.0%	39.9%	32.2%	5.1%	-6.7%	654.5K	-10.6M	-65.2K	0.33	76.10	6	2	591	341
2025-01-23	$520.84	$490.00	32.4%	9.3%	15.8%	37.6%	31.5%	6.3%	-5.6%	659.2K	-9.8M	-66.1K	0.20	81.24	70	14	597	343
2025-01-24	$526.42	$500.00	31.5%	9.0%	15.4%	35.3%	30.8%	2.2%	-6.1%	690.6K	-11.9M	-65.2K	0.05	80.08	37	2	604	356
2025-01-27	$534.55	$500.00	36.1%	10.3%	15.9%	47.1%	36.5%	2.4%	-7.6%	722.0K	-14.3M	-66.7K	0.50	76.26	10	5	625	358
2025-01-28	$542.44	$500.00	34.4%	9.9%	16.3%	42.9%	33.5%	2.8%	-6.5%	771.7K	-16.3M	-66.7K	0.07	87.39	27	2	627	363
2025-01-29	$537.68	$500.00	35.9%	10.3%	16.3%	46.6%	35.7%	6.9%	-6.9%	773.4K	-15.0M	-68.0K	0.28	82.82	29	8	642	365
2025-01-30	$547.38	$510.00	38.0%	10.9%	16.8%	52.0%	34.9%	1.9%	-9.2%	800.5K	-18.2M	-66.0K	0.89	79.35	301	267	639	372
2025-01-31	$542.37	$520.00	35.1%	10.1%	17.2%	44.7%	37.0%	2.3%	-9.2%	957.6K	-17.0M	-81.6K	0.67	81.13	93	62	910	636