IWC Options History — January 2025

In January 2025, IWC traded between $124.14 and $133.59. ATM implied volatility averaged 17.4%, placing in the 21.0% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded below realized volatility by 9.3% (HV 20d: 26.7%). Max pain ranged from $122.00 to $134.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 1.75.

Notable Days

2025-01-06: Highest Volume — 51 contracts
2025-01-27: Largest IV spike — 72.6% change
2025-01-14: Highest IV Rank — 36.8%
2025-01-13: Largest Expected Move — 6.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$129.94	$124.14	$133.59	$130.35	$130.07
Max Pain	$130.25	$122.00	$134.00	$134.00	$131.00
ATM IV	17.4%	11.2%	22.6%	17.7%	15.2%
Expected Move	5.2%	3.2%	6.9%	5.1%	4.4%
HV 20d	26.7%	23.2%	31.5%	25.3%	23.2%
HV 60d	26.5%	25.4%	27.0%	25.4%	26.5%
IV Rank	21.0%	1.7%	36.8%	21.8%	14.3%
IV Percentile	22.3%	0.4%	59.5%	18.7%	10.7%
Term Structure	1.7%	-3.6%	8.1%	4.3%	4.1%
VWIV	15.6%	9.6%	22.5%	16.8%	10.7%
Skew 25d	2.1%	-3.0%	7.7%	-1.6%	5.3%
Skew 10d	3.1%	0.6%	7.0%	1.9%	4.7%
Call IV 25d	12.4%	9.6%	18.6%	18.6%	10.7%
Put IV 25d	14.6%	11.2%	24.6%	17.0%	16.0%
Bid-Ask Spread %	108.88	90.82	123.88	123.88	115.46
Gamma HHI	0.12	0.10	0.13	0.10	0.12
Net GEX	101.3K	63.1K	118.8K	91.6K	112.4K
Net DEX	-1.7M	-2.1M	-1.0M	-1.7M	-1.8M
Net VEX	-6.8K	-7.5K	-6.3K	-7.0K	-6.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.75	0.00	21.00	0.00	0.00
Total Volume	14.5	1	51	4	11
Total OI	472.55	417	510	417	490

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-01-02	$130.35	$134.00	17.7%	5.1%	25.3%	21.8%	0.0%	-1.6%	4.3%	91.6K	-1.7M	-7.0K	0.00	123.88	N/A	N/A	4	0	378	39
2025-01-03	$133.50	$132.00	14.9%	4.3%	26.9%	13.2%	16.8%	-3.0%	7.4%	108.6K	-2.1M	-6.9K	0.00	123.75	N/A	N/A	2	0	386	39
2025-01-06	$133.59	$132.00	16.6%	6.0%	26.9%	18.3%	20.8%	3.6%	-2.5%	106.3K	-2.1M	-6.7K	0.76	94.23	N/A	N/A	29	22	384	39
2025-01-07	$130.82	$132.00	22.2%	6.0%	27.7%	35.6%	21.9%	0.1%	2.6%	103.1K	-1.8M	-7.0K	0.13	106.40	N/A	N/A	8	1	412	50
2025-01-08	$128.81	$132.00	20.6%	6.8%	28.1%	30.6%	22.5%	7.7%	-1.8%	96.3K	-1.5M	-7.0K	21.00	90.82	N/A	N/A	1	21	411	51
2025-01-10	$125.07	$132.00	16.4%	6.3%	29.5%	17.9%	16.4%	3.0%	4.3%	70.4K	-1.1M	-6.7K	0.40	95.35	N/A	N/A	5	2	411	57
2025-01-13	$124.14	$132.00	20.4%	6.9%	29.2%	29.9%	18.3%	0.4%	-0.2%	70.1K	-1.0M	-6.3K	3.09	99.18	N/A	N/A	11	34	417	59
2025-01-14	$124.94	$122.00	22.6%	6.3%	28.9%	36.8%	0.0%	4.7%	2.0%	63.1K	-1.1M	-6.4K	0.00	97.26	N/A	N/A	4	0	424	75
2025-01-15	$128.93	$122.00	17.3%	5.0%	31.5%	20.5%	16.4%	4.2%	2.3%	87.0K	-1.6M	-6.7K	0.00	107.81	N/A	N/A	11	0	424	75
2025-01-16	$129.11	$129.00	19.7%	5.7%	31.2%	28.0%	15.6%	2.0%	2.8%	89.9K	-1.6M	-6.8K	1.45	104.66	N/A	N/A	11	16	427	75
2025-01-17	$129.39	$129.00	15.4%	4.4%	31.1%	14.8%	0.0%	2.5%	2.6%	108.0K	-1.7M	-6.5K	0.00	104.94	N/A	N/A	1	0	435	75
2025-01-21	$132.15	$129.00	19.6%	5.6%	25.1%	27.4%	11.8%	1.0%	-3.3%	108.7K	-2.0M	-6.6K	0.27	105.24	N/A	N/A	15	4	390	58
2025-01-22	$132.01	$131.00	11.8%	3.4%	25.1%	3.8%	0.0%	0.8%	3.5%	112.7K	-2.0M	-6.5K	0.00	117.94	N/A	N/A	23	0	400	62
2025-01-23	$132.36	$131.00	14.8%	4.2%	24.8%	13.0%	0.0%	1.8%	0.6%	114.9K	-2.1M	-7.2K	0.00	114.01	N/A	N/A	5	0	409	62
2025-01-24	$132.33	$131.00	11.2%	3.2%	24.7%	1.7%	10.6%	0.6%	8.1%	115.8K	-2.1M	-7.3K	0.00	116.72	N/A	N/A	9	0	415	62
2025-01-27	$129.94	$131.00	19.2%	5.5%	25.3%	26.5%	9.6%	3.8%	-2.1%	117.6K	-1.9M	-6.8K	0.00	115.32	N/A	N/A	13	0	420	62
2025-01-28	$130.44	$131.00	15.5%	4.4%	23.9%	15.0%	11.5%	0.4%	0.6%	115.4K	-1.9M	-7.5K	3.00	114.81	N/A	N/A	1	3	431	62
2025-01-29	$130.14	$131.00	19.3%	5.5%	23.2%	26.7%	0.0%	1.4%	1.4%	115.6K	-1.8M	-7.3K	0.00	108.80	N/A	N/A	17	0	432	65
2025-01-30	$130.63	$131.00	18.2%	5.2%	23.2%	23.4%	0.0%	4.3%	-3.6%	118.8K	-1.9M	-6.9K	5.00	120.93	N/A	N/A	1	5	423	65
2025-01-31	$130.07	$131.00	15.2%	4.4%	23.2%	14.3%	10.7%	5.3%	4.1%	112.4K	-1.8M	-6.9K	0.00	115.46	N/A	N/A	11	0	423	67