IT Options History — April 2025

In April 2025, IT traded between $372.94 and $425.18. ATM implied volatility averaged 47.4%, placing in the 60.8% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded below realized volatility by 1.4% (HV 20d: 48.8%). Max pain ranged from $400.00 to $410.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 3.39.

Notable Days

  • 2025-04-04: Highest Volume — 2,080 contracts
  • 2025-04-04: Largest IV spike — 60.9% change
  • 2025-04-07: Highest IV Rank — 100.0%
  • 2025-04-08: Largest Expected Move — 17.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$403.92$372.94$425.18$411.87$417.69
Max Pain$401.43$400.00$410.00$410.00$410.00
ATM IV47.4%27.7%69.0%28.7%50.4%
Expected Move13.6%9.7%17.3%10.3%14.5%
HV 20d48.8%35.0%57.0%35.0%50.3%
HV 60d34.2%26.6%37.2%26.6%36.9%
IV Rank60.8%26.0%100.0%28.6%63.9%
IV Percentile94.0%69.8%100.0%73.4%98.0%
Term Structure-7.9%-14.2%7.2%7.2%-14.0%
VWIV47.2%34.4%58.7%35.5%49.4%
Skew 25d10.0%3.5%14.7%3.5%7.4%
Skew 10d20.5%11.6%29.9%12.6%29.9%
Call IV 25d41.8%28.2%52.1%28.2%47.1%
Put IV 25d51.8%31.7%62.6%31.7%54.5%
Bid-Ask Spread %67.7560.9877.5968.4474.32
Gamma HHI0.160.110.240.210.12
Net GEX255.8K-566.2K838.0K-519.9K785.9K
Net DEX13.4M-5.4M41.5M17.0M-3.5M
Net VEX-189.9K-230.5K-134.8K-134.8K-228.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.390.0640.834.680.36
Total Volume384.81122,08014215
Total OI4,733.4763,2466,5073,4773,928

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-04-01$411.87$410.0028.7%10.3%35.0%28.6%35.5%3.5%7.2%-519.9K17.0M-134.8K4.6868.44251171,9711,506
2025-04-02$425.18$410.0027.7%9.7%37.4%26.0%34.4%4.6%-3.4%221.3K10.7M-146.5K0.1063.051,3621331,9651,571
2025-04-03$407.16$400.0034.2%11.4%39.6%42.8%40.0%7.4%-4.8%173.2K12.7M-174.4K4.8964.80994842,6651,668
2025-04-04$388.72$400.0055.0%14.6%41.8%96.3%52.9%12.7%-6.2%-497.7K30.9M-181.8K0.8467.291,1309502,7342,067
2025-04-07$380.06$400.0062.9%15.7%42.0%100.0%58.7%13.6%-7.4%-541.0K38.8M-174.5K1.9262.3149943,1032,287
2025-04-08$372.94$400.0069.0%17.3%42.1%100.0%56.1%10.5%-11.8%-566.2K41.5M-168.2K5.8565.9013763,1152,341
2025-04-09$405.26$400.0045.7%13.1%53.7%54.7%45.7%11.8%-7.3%-355.4K20.9M-187.4K0.5967.001,1546863,1162,355
2025-04-10$389.35$400.0049.1%14.1%55.0%61.4%48.4%8.6%-7.4%159.3K27.6M-208.2K0.8470.0219163,6202,572
2025-04-11$399.97$400.0050.4%14.4%56.1%63.8%50.0%14.7%-8.1%496.7K13.9M-213.7K0.5660.9836203,6262,569
2025-04-14$410.26$400.0046.0%13.2%57.0%55.3%45.1%13.9%-8.4%838.0K-223.7K-202.4K1.3373.011351793,6292,578
2025-04-15$403.94$400.0046.0%13.2%56.1%55.3%43.7%13.1%-8.0%633.5K9.4M-196.3K3.0072.647213,7522,732
2025-04-16$400.46$400.0046.0%13.2%55.9%55.2%46.8%9.9%-5.1%768.9K18.0M-183.1K40.8377.5962453,7532,745
2025-04-17$403.12$400.0046.3%13.3%49.1%55.8%45.1%8.0%-7.6%507.5K12.4M-183.1K0.3564.802073,7562,751
2025-04-21$389.95$400.0049.3%14.1%49.0%61.7%45.4%9.6%-8.7%-24.6K18.8M-162.3K1.2166.4114171,6971,549
2025-04-22$401.13$400.0049.2%14.1%50.3%61.6%50.0%12.5%-9.4%117.7K13.4M-173.0K0.0767.462921,6971,561
2025-04-23$406.22$400.0047.5%13.6%50.2%58.2%46.5%12.4%-10.7%280.4K8.5M-180.6K0.0668.22245141,7721,563
2025-04-24$417.63$400.0046.5%13.3%51.1%56.3%47.8%7.9%-8.7%599.5K-261.2K-205.7K1.0166.352372391,9931,570
2025-04-25$416.34$400.0046.5%13.3%51.1%56.2%49.4%7.7%-9.4%735.3K-1.5M-230.5K0.4068.192082,2031,624
2025-04-28$415.37$400.0048.4%13.9%50.7%59.9%51.0%11.3%-13.2%729.5K-1.5M-225.2K2.0068.25482,2141,631
2025-04-29$419.79$400.0049.8%14.3%50.8%62.7%50.2%8.5%-14.2%829.2K-5.4M-227.7K0.3465.81109372,2141,640
2025-04-30$417.69$410.0050.4%14.5%50.3%63.9%49.4%7.4%-14.0%785.9K-3.5M-228.8K0.3674.321142,2651,663