IWC Options History — February 2025

In February 2025, IWC traded between $121.90 and $132.89. ATM implied volatility averaged 18.7%, placing in the 24.7% IV rank vs the trailing year. The 30-day expected move averaged 5.7%. IV traded below realized volatility by 0.1% (HV 20d: 18.8%). Max pain ranged from $118.00 to $131.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 13 of 19 days. Put/call ratio averaged 0.52.

Notable Days

2025-02-20: Highest Volume — 61 contracts
2025-02-11: Largest IV spike — 33.5% change
2025-02-28: Highest IV Rank — 47.1%
2025-02-28: Largest Expected Move — 7.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$128.77	$121.90	$132.89	$128.47	$122.35
Max Pain	$121.63	$118.00	$131.00	$131.00	$120.00
ATM IV	18.7%	11.8%	26.0%	18.8%	26.0%
Expected Move	5.7%	4.3%	7.5%	5.4%	7.5%
HV 20d	18.8%	14.5%	23.6%	23.6%	18.0%
HV 60d	23.5%	22.3%	26.7%	26.6%	22.3%
IV Rank	24.7%	3.8%	47.1%	25.2%	47.1%
IV Percentile	35.2%	0.8%	89.3%	27.8%	89.3%
Term Structure	1.5%	-6.1%	5.9%	5.8%	-0.5%
VWIV	17.6%	10.7%	24.9%	16.2%	19.0%
Skew 25d	0.3%	-5.7%	6.6%	2.0%	-2.3%
Skew 10d	1.6%	-7.0%	10.9%	0.5%	10.9%
Call IV 25d	13.8%	10.3%	23.3%	17.4%	18.5%
Put IV 25d	14.1%	11.0%	19.3%	19.3%	16.2%
Bid-Ask Spread %	108.65	100.50	118.53	118.53	107.95
Gamma HHI	0.13	0.06	0.26	0.13	0.06
Net GEX	149.6K	90.4K	263.5K	104.7K	90.4K
Net DEX	-1.8M	-2.4M	-960.4K	-1.6M	-1.0M
Net VEX	-6.3K	-6.9K	-5.7K	-6.9K	-6.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.00	4.00	0.00	0.50
Total Volume	16.105	0	61	3	9
Total OI	530.526	501	595	501	536

Daily Data (19 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
2025-02-03	$128.47	$131.00	18.8%	5.4%	23.6%	25.2%	0.0%	2.0%	5.8%	104.7K	-1.6M	-6.9K	0.00	118.53	N/A	N/A	3	0	434	67
2025-02-04	$131.01	$131.00	20.7%	5.9%	23.0%	31.0%	16.2%	0.7%	5.2%	124.8K	-2.0M	-6.8K	0.00	117.25	N/A	N/A	5	0	435	67
2025-02-05	$132.45	$131.00	16.3%	4.7%	23.4%	17.4%	20.1%	0.5%	0.2%	137.9K	-2.2M	-6.8K	0.15	117.26	N/A	N/A	13	2	437	67
2025-02-06	$132.89	$118.00	11.8%	5.9%	22.1%	3.8%	20.7%	-5.2%	2.5%	156.3K	-2.4M	-6.7K	0.36	100.50	N/A	N/A	11	4	445	67
2025-02-07	$131.19	$120.00	12.4%	6.0%	21.9%	5.5%	0.0%	1.5%	0.8%	146.0K	-2.1M	-6.9K	0.50	104.31	N/A	N/A	2	1	445	67
2025-02-10	$132.03	$120.00	15.0%	5.4%	18.8%	13.5%	0.0%	-4.0%	5.9%	161.3K	-2.2M	-6.5K	0.00	105.97	N/A	N/A	17	0	445	68
2025-02-11	$130.74	$120.00	20.0%	5.6%	19.0%	28.9%	21.5%	1.8%	2.8%	167.1K	-2.1M	-6.3K	0.00	105.32	N/A	N/A	20	0	461	68
2025-02-12	$130.13	$120.00	17.3%	5.0%	19.1%	20.6%	17.7%	1.6%	1.0%	146.6K	-1.9M	-6.1K	1.00	106.92	N/A	N/A	4	4	451	68
2025-02-13	$131.92	$120.00	15.2%	4.4%	16.3%	14.1%	10.7%	1.3%	5.5%	184.7K	-2.2M	-5.9K	0.08	109.91	N/A	N/A	25	2	453	70
2025-02-14	$131.67	$120.00	14.9%	4.3%	16.3%	13.4%	0.0%	0.7%	5.2%	239.4K	-2.3M	-5.9K	0.00	109.57	N/A	N/A	1	0	472	70
2025-02-18	$131.79	$120.00	16.6%	4.8%	16.3%	18.5%	16.8%	0.8%	3.5%	263.5K	-2.3M	-5.7K	1.00	105.02	N/A	N/A	11	11	472	70
2025-02-19	$131.37	$120.00	16.8%	4.8%	14.5%	19.0%	0.0%	2.1%	-2.7%	248.1K	-2.1M	-5.7K	0.00	109.52	N/A	N/A	47	0	470	78
2025-02-20	$129.86	$120.00	20.5%	5.9%	15.0%	30.4%	12.8%	6.6%	-1.9%	150.3K	-2.1M	-6.7K	0.56	106.62	N/A	N/A	39	22	517	78
2025-02-21	$126.36	$120.00	21.7%	6.2%	17.7%	33.9%	17.8%	0.7%	-0.3%	108.8K	-1.3M	-6.6K	1.00	102.94	N/A	N/A	7	7	486	95
2025-02-24	$124.07	$120.00	18.5%	5.3%	18.5%	24.3%	15.5%	-5.7%	-2.8%	110.2K	-1.2M	-6.2K	0.13	108.93	N/A	N/A	16	2	455	64
2025-02-25	$123.00	$120.00	23.2%	6.6%	17.8%	38.4%	14.5%	0.4%	-6.1%	103.3K	-1.1M	-6.0K	4.00	107.23	N/A	N/A	4	16	464	66
2025-02-26	$123.34	$120.00	24.3%	7.0%	17.7%	42.0%	0.0%	2.5%	2.4%	104.5K	-1.1M	-5.9K	0.00	111.75	N/A	N/A	0	0	466	70
2025-02-27	$121.90	$120.00	24.7%	7.1%	18.0%	43.0%	24.9%	-0.1%	2.3%	94.7K	-960.4K	-5.8K	0.00	108.80	N/A	N/A	1	0	466	70
2025-02-28	$122.35	$120.00	26.0%	7.5%	18.0%	47.1%	19.0%	-2.3%	-0.5%	90.4K	-1.0M	-6.1K	0.50	107.95	N/A	N/A	6	3	466	70