OGE Options History — January 2025

In January 2025, OGE traded between $39.84 and $43.47. ATM implied volatility averaged 37.6%, placing in the 19.2% IV rank vs the trailing year. The 30-day expected move averaged 7.9%. IV traded above realized volatility by 16.2% (HV 20d: 21.4%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 0.90.

Notable Days

2025-01-07: Highest Volume — 344 contracts
2025-01-31: Largest IV spike — 214.2% change
2025-01-14: Highest IV Rank — 51.1%
2025-01-31: Largest Expected Move — 12.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$41.71	$39.84	$43.47	$41.23	$42.18
Max Pain	$40.00	$40.00	$40.00	$40.00	$40.00
ATM IV	37.6%	13.9%	82.9%	28.6%	43.7%
Expected Move	7.9%	4.0%	12.5%	8.2%	12.5%
HV 20d	21.4%	15.1%	25.1%	15.1%	25.1%
HV 60d	21.0%	18.5%	22.3%	18.5%	22.1%
IV Rank	19.2%	2.5%	51.1%	12.9%	23.5%
IV Percentile	45.4%	2.8%	95.6%	29.0%	68.3%
Term Structure	-5.6%	-27.2%	13.1%	13.1%	-27.2%
VWIV	29.5%	14.1%	56.8%	14.1%	34.5%
Skew 25d	11.0%	-4.5%	28.7%	20.1%	5.9%
Skew 10d	14.8%	1.6%	44.0%	31.8%	22.9%
Call IV 25d	24.3%	16.4%	40.0%	29.1%	40.0%
Put IV 25d	35.4%	20.2%	52.9%	49.3%	46.0%
Bid-Ask Spread %	121.91	95.54	130.00	95.54	128.38
Gamma HHI	0.49	0.44	0.76	0.44	0.48
Net GEX	188.4K	115.1K	267.1K	121.8K	218.1K
Net DEX	-3.1M	-5.0M	-1.4M	-1.7M	-3.6M
Net VEX	-9.0K	-10.3K	-6.7K	-7.5K	-9.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.90	0.00	5.60	0.00	0.33
Total Volume	36.95	0	344	12	0
Total OI	1,907.75	1,495	2,074	1,495	2,074

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 Vol	Put Vol	Call OI	Put OI
2025-01-02	$41.23	$40.00	28.6%	8.2%	15.1%	12.9%	14.1%	20.1%	13.1%	121.8K	-1.7M	-7.5K	0.00	95.54	12	0	1,108	387
2025-01-03	$41.56	$40.00	42.4%	12.2%	15.5%	22.6%	56.8%	28.7%	-24.3%	126.1K	-1.9M	-7.7K	1.50	107.72	8	12	1,114	387
2025-01-06	$40.11	$40.00	39.3%	7.0%	19.0%	20.4%	24.9%	11.3%	-5.4%	115.1K	-1.4M	-7.4K	0.23	119.09	26	6	1,106	399
2025-01-07	$40.45	$40.00	46.0%	4.8%	18.2%	25.1%	20.0%	-4.5%	0.5%	119.3K	-1.6M	-7.8K	0.00	121.81	344	0	1,130	399
2025-01-08	$40.65	$40.00	50.2%	6.7%	17.9%	28.1%	0.0%	11.5%	5.1%	171.8K	-2.4M	-9.7K	0.00	122.51	151	0	1,442	399
2025-01-10	$39.86	$40.00	53.8%	7.7%	18.5%	30.6%	26.1%	2.0%	-7.7%	178.7K	-1.9M	-9.7K	4.00	123.95	1	4	1,593	399
2025-01-13	$39.84	$40.00	75.6%	8.2%	18.5%	46.0%	0.0%	4.1%	-5.1%	166.5K	-2.0M	-10.3K	0.00	128.99	0	10	1,593	403
2025-01-14	$40.83	$40.00	82.9%	8.3%	20.9%	51.1%	0.0%	2.3%	-8.9%	186.7K	-2.5M	-10.2K	0.00	130.00	3	0	1,593	403
2025-01-15	$41.09	$40.00	30.0%	8.6%	21.1%	13.8%	0.0%	2.3%	-8.0%	199.2K	-2.7M	-9.6K	0.00	126.08	2	0	1,593	398
2025-01-16	$42.16	$40.00	29.7%	8.5%	23.1%	13.6%	0.0%	19.7%	-3.0%	216.4K	-3.5M	-9.3K	0.00	128.45	10	0	1,590	398
2025-01-17	$42.53	$40.00	19.6%	5.6%	23.1%	6.5%	0.0%	8.8%	-5.6%	229.4K	-4.1M	-8.6K	0.00	124.55	4	0	1,595	398
2025-01-21	$43.47	$40.00	22.8%	6.5%	22.1%	8.8%	19.2%	17.0%	-5.8%	267.1K	-5.0M	-6.7K	0.00	114.81	4	0	1,594	398
2025-01-22	$42.56	$40.00	21.7%	6.2%	23.5%	8.0%	0.0%	3.1%	2.9%	218.4K	-3.7M	-9.2K	0.00	120.26	12	0	1,597	398
2025-01-23	$43.16	$40.00	25.0%	7.2%	23.9%	10.3%	0.0%	4.7%	-4.6%	201.3K	-3.9M	-9.8K	0.00	126.92	50	0	1,605	398
2025-01-24	$43.17	$40.00	32.9%	9.4%	23.9%	15.9%	0.0%	3.8%	-16.6%	242.5K	-4.5M	-8.1K	0.00	128.22	0	0	1,635	398
2025-01-27	$42.55	$40.00	26.3%	7.5%	24.6%	11.2%	40.4%	21.1%	9.8%	196.3K	-3.8M	-10.1K	3.38	123.97	8	27	1,635	398
2025-01-28	$42.16	$40.00	33.4%	9.6%	24.8%	16.2%	34.5%	10.1%	-12.3%	190.4K	-3.5M	-10.0K	5.60	120.71	5	28	1,643	421
2025-01-29	$42.14	$40.00	34.4%	9.9%	24.8%	16.9%	0.0%	26.5%	-13.5%	183.6K	-3.7M	-10.0K	0.33	127.58	3	1	1,648	417
2025-01-30	$42.55	$40.00	13.9%	4.0%	25.0%	2.5%	0.0%	22.3%	5.2%	218.5K	-3.9M	-9.2K	0.33	118.67	6	2	1,651	418
2025-01-31	$42.18	$40.00	43.7%	12.5%	25.1%	23.5%	0.0%	5.9%	-27.2%	218.1K	-3.6M	-9.2K	0.00	128.38	0	0	1,654	420