IT Options History — March 2025

In March 2025, IT traded between $416.10 and $489.63. ATM implied volatility averaged 28.1%, placing in the 27.1% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded above realized volatility by 2.7% (HV 20d: 25.4%). Max pain ranged from $410.00 to $500.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 4.16.

Notable Days

  • 2025-03-20: Highest Volume — 2,406 contracts
  • 2025-03-10: Largest IV spike — 22.9% change
  • 2025-03-10: Highest IV Rank — 44.7%
  • 2025-03-31: Largest Expected Move — 10.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$451.58$416.10$489.63$489.63$420.05
Max Pain$470.50$410.00$500.00$500.00$410.00
ATM IV28.1%25.8%35.0%26.6%30.6%
Expected Move9.0%7.6%10.5%7.6%10.5%
HV 20d25.4%18.8%35.2%19.5%34.8%
HV 60d22.0%19.1%26.3%19.1%26.3%
IV Rank27.1%21.2%44.7%23.2%33.4%
IV Percentile72.7%67.5%85.7%73.0%75.8%
Term Structure3.0%-3.4%9.6%-3.4%6.5%
VWIV30.9%23.6%38.3%23.6%36.8%
Skew 25d3.7%0.6%6.3%0.6%4.6%
Skew 10d7.1%-4.8%19.4%13.2%-3.1%
Call IV 25d26.0%22.3%29.7%23.9%28.4%
Put IV 25d29.7%24.5%33.7%24.5%33.0%
Bid-Ask Spread %79.7456.8397.1892.4961.06
Gamma HHI0.200.120.340.130.21
Net GEX401.9K-2.5M1.4M296.6K-28.7K
Net DEX5.9M-1.6M26.3M-673.7K12.6M
Net VEX-125.4K-139.2K-105.2K-131.6K-136.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.160.0048.800.011.38
Total Volume447.47612,40614050
Total OI3,088.4762,0255,1832,0253,456

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-03-03$489.63$500.0026.6%7.6%19.5%23.2%23.6%0.6%-3.4%296.6K-673.7K-131.6K0.0192.4913911,320705
2025-03-04$485.15$500.0028.5%8.2%18.8%28.1%30.1%4.3%-3.1%504.6K-830.0K-132.4K6.2594.454251,453704
2025-03-05$489.02$500.0027.9%8.0%19.4%26.5%23.6%4.3%1.2%610.4K-1.6M-134.7K0.0094.5466601,446705
2025-03-06$483.63$500.0029.0%8.3%19.2%29.4%25.7%3.3%2.1%802.1K-386.0K-133.1K0.0087.91101,628705
2025-03-07$479.89$500.0028.5%8.2%19.1%28.0%27.9%3.5%2.6%593.3K1.7M-127.5K1.1491.0914161,628705
2025-03-10$473.21$500.0035.0%10.0%19.3%44.7%34.5%2.2%0.5%465.8K3.0M-120.9K0.1193.42381411,631705
2025-03-11$468.41$500.0027.4%9.1%19.2%25.3%33.3%4.5%1.4%352.1K5.2M-114.3K0.0088.851,33831,666700
2025-03-12$459.86$490.0027.2%8.8%19.5%24.8%30.7%4.3%1.0%1.0M4.4M-119.5K0.6090.561062,193693
2025-03-13$453.66$490.0027.4%8.9%19.4%25.1%38.3%4.9%2.3%734.8K6.1M-110.9K0.5190.808914572,202669
2025-03-14$456.87$480.0027.7%7.8%19.7%26.1%28.6%5.0%1.7%942.8K2.1M-133.7K0.2797.181132,4831,090
2025-03-17$461.58$490.0026.4%8.2%20.3%22.6%0.0%1.1%2.3%961.2K451.6K-132.3K1.2576.16452,4821,092
2025-03-18$446.21$490.0026.4%8.6%22.6%22.7%26.9%4.5%3.7%496.5K7.7M-112.5K0.0673.541,420902,4861,093
2025-03-19$449.92$490.0025.8%8.4%22.8%21.2%28.8%5.3%4.0%1.4M2.1M-125.5K10.5078.32101052,9481,218
2025-03-20$416.10$0.0030.0%9.7%33.7%31.9%32.2%2.0%3.2%-690.7K21.2M-105.2K1.2181.571,0891,3172,9491,322
2025-03-21$427.56$500.0028.4%9.5%35.2%27.8%33.3%3.5%4.2%-2.5M26.3M-139.2K1.2056.832713263,2611,922
2025-03-24$429.86$420.0028.3%9.7%34.0%27.6%33.4%3.0%3.3%884.3K3.2M-128.1K1.4668.1041601,8851,087
2025-03-25$421.17$420.0026.4%10.0%33.8%22.6%33.2%2.5%9.6%361.3K8.1M-109.2K4.7667.43251191,8831,032
2025-03-26$426.34$410.0027.0%9.7%34.6%24.1%31.6%4.2%6.8%713.5K4.6M-122.8K6.5561.72201311,9401,138
2025-03-27$426.32$410.0028.2%9.9%34.6%27.2%34.5%3.7%7.5%559.8K5.6M-124.4K48.8061.2552441,9491,248
2025-03-28$418.70$410.0027.7%9.6%34.6%25.9%31.6%6.3%5.7%-41.7K12.7M-138.7K1.3267.3025331,9521,484
2025-03-31$420.05$410.0030.6%10.5%34.8%33.4%36.8%4.6%6.5%-28.7K12.6M-136.2K1.3861.0621291,9641,492