MARA Options History — July 2025

In July 2025, MARA traded between $15.79 and $19.87. ATM implied volatility averaged 74.8%, placing in the 12.7% IV rank vs the trailing year. The 30-day expected move averaged 21.6%. IV traded above realized volatility by 4.4% (HV 20d: 70.4%). Max pain ranged from $14.50 to $17.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 7 of 22 days. Put/call ratio averaged 0.36.

Notable Days

  • 2025-07-23: Highest Volume — 871,486 contracts
  • 2025-07-09: Largest IV spike — 8.2% change
  • 2025-07-14: Highest IV Rank — 19.2%
  • 2025-07-23: Largest Expected Move — 23.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.97$15.79$19.87$15.79$16.21
Max Pain$16.39$14.50$17.00$14.50$17.00
ATM IV74.8%64.9%80.5%69.8%64.9%
Expected Move21.6%18.3%23.3%18.3%19.0%
HV 20d70.4%59.9%82.4%60.8%70.2%
HV 60d73.8%67.3%83.9%80.9%69.9%
IV Rank12.7%1.3%19.2%6.9%1.3%
IV Percentile11.2%2.0%18.7%6.3%2.0%
Term Structure-0.3%-2.1%4.0%0.7%-0.4%
VWIV80.0%66.3%87.5%66.3%72.6%
Skew 25d-8.8%-15.1%-0.3%-1.3%-5.2%
Skew 10d-18.6%-39.8%26.2%-3.2%-10.2%
Call IV 25d82.9%70.5%93.6%70.7%70.5%
Put IV 25d74.1%65.3%78.8%69.4%65.3%
Bid-Ask Spread %13.893.6430.9015.043.91
Gamma HHI0.130.060.520.120.09
Net GEX23.0M1.7M68.6M24.7M1.7M
Net DEX-781.3M-1.24B-254.2M-530.0M-254.2M
Net VEX-5.2M-5.7M-4.4M-4.4M-5.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.360.140.710.270.14
Total Volume410,757.727168,194871,486379,481338,286
Total OI2,317,372.5452,080,0422,654,8522,080,0422,654,852

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-07-01$15.79$14.5069.8%18.3%60.8%6.9%66.3%-1.3%0.7%24.7M-530.0M-4.4M0.2715.04N/AN/A299,77879,7031,253,438826,604
2025-07-02$17.70$15.0075.3%20.8%68.0%13.2%75.6%-7.1%2.9%20.7M-1.01B-4.9M0.4110.30N/AN/A474,697196,9121,271,441852,365
2025-07-03$17.74$15.0071.3%21.2%67.9%8.7%77.1%-7.1%4.0%22.1M-990.1M-5.0M0.2130.57N/AN/A277,26956,9241,347,239918,831
2025-07-07$16.59$15.0075.1%21.9%69.8%13.0%78.5%-7.5%0.3%16.9M-561.0M-4.6M0.4527.49N/AN/A193,18886,7831,281,545847,913
2025-07-08$17.37$16.0071.2%21.1%67.5%8.5%77.8%-3.0%1.6%24.2M-747.0M-4.7M0.3430.90N/AN/A125,99042,2041,315,759871,387
2025-07-09$18.39$16.0077.0%22.2%70.0%15.2%78.2%-0.3%0.0%30.0M-1.03B-5.0M0.2629.55N/AN/A227,51260,2141,343,016886,528
2025-07-10$18.93$16.0075.6%21.5%70.2%13.5%77.1%-9.4%-0.2%37.0M-1.20B-5.1M0.3120.91N/AN/A495,202154,1601,380,556910,895
2025-07-11$19.04$16.0077.4%22.1%69.0%15.6%79.6%-8.0%0.1%68.6M-1.24B-5.3M0.2117.69N/AN/A450,24693,1621,463,851973,815
2025-07-14$19.05$16.0080.5%23.0%68.5%19.2%87.5%-15.0%-1.0%23.4M-991.7M-5.3M0.3916.99N/AN/A371,918144,5581,306,166879,910
2025-07-15$18.84$17.0078.5%22.5%63.3%16.8%82.6%-13.6%-0.8%22.9M-931.1M-5.3M0.4116.61N/AN/A163,78066,3461,365,773920,207
2025-07-16$19.66$17.0078.6%22.5%64.0%17.0%83.2%-12.3%-1.6%31.5M-1.13B-5.5M0.2318.71N/AN/A230,49053,6581,397,639932,963
2025-07-17$19.87$17.0077.6%22.3%59.9%15.8%81.4%-15.1%-1.0%38.3M-1.23B-5.6M0.448.57N/AN/A206,20191,7431,464,542943,594
2025-07-18$19.55$17.0076.0%22.0%60.8%14.0%81.0%-8.9%-1.6%43.0M-1.08B-5.5M0.363.64N/AN/A551,520196,5641,511,703978,058
2025-07-21$18.73$17.0074.9%21.4%62.4%12.7%84.8%-10.6%-1.3%15.1M-698.7M-5.3M0.426.27N/AN/A255,088107,1171,288,363846,097
2025-07-22$19.84$17.0075.3%21.9%63.8%13.1%81.4%-11.3%-1.6%27.6M-979.1M-5.7M0.403.87N/AN/A149,31258,9781,349,518875,272
2025-07-23$17.34$17.0079.3%23.3%82.2%17.7%86.4%-9.8%-1.5%6.3M-404.2M-5.1M0.504.35N/AN/A579,338292,1481,356,600896,277
2025-07-24$17.38$17.0075.1%22.2%82.3%13.0%83.4%-11.5%-0.2%9.4M-484.9M-5.3M0.278.25N/AN/A321,71285,7021,503,962956,359
2025-07-25$17.18$17.0075.7%21.9%82.4%13.7%80.7%-8.9%-1.0%11.5M-460.0M-5.3M0.717.47N/AN/A213,884151,2721,588,189977,932
2025-07-28$17.11$17.0073.3%21.8%82.1%10.9%82.7%-12.7%-1.8%13.2M-513.1M-5.3M0.304.67N/AN/A183,55455,7111,376,527926,391
2025-07-29$16.69$17.0074.5%22.6%81.4%12.3%84.9%-10.3%-2.1%12.0M-425.3M-5.3M0.475.42N/AN/A165,16977,2441,464,063963,743
2025-07-30$16.42$17.0069.4%20.2%81.7%6.4%76.4%-5.4%-1.0%6.3M-311.1M-5.0M0.4514.48N/AN/A421,224190,2091,516,058996,255
2025-07-31$16.21$17.0064.9%19.0%70.2%1.3%72.6%-5.2%-0.4%1.7M-254.2M-5.0M0.143.91N/AN/A295,75842,5281,576,8821,077,970