OGE Options History — March 2025

In March 2025, OGE traded between $43.74 and $46.30. ATM implied volatility averaged 24.5%, placing in the 10.0% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded above realized volatility by 7.4% (HV 20d: 17.1%). Max pain ranged from $40.00 to $45.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 3.08.

Notable Days

2025-03-11: Highest Volume — 564 contracts
2025-03-17: Largest IV spike — 44.9% change
2025-03-10: Highest IV Rank — 16.3%
2025-03-13: Largest Expected Move — 13.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.86	$43.74	$46.30	$46.30	$45.95
Max Pain	$40.94	$40.00	$45.00	$40.00	$45.00
ATM IV	24.5%	13.8%	33.5%	32.1%	21.3%
Expected Move	7.2%	4.1%	13.7%	9.2%	6.0%
HV 20d	17.1%	10.5%	19.1%	10.5%	19.0%
HV 60d	18.7%	18.2%	19.2%	18.2%	19.1%
IV Rank	10.0%	2.4%	16.3%	15.3%	7.7%
IV Percentile	22.0%	2.8%	44.8%	38.1%	13.5%
Term Structure	-2.3%	-12.1%	7.4%	-1.1%	-0.3%
VWIV	28.8%	20.0%	55.0%	26.0%	28.2%
Skew 25d	14.7%	-4.1%	50.1%	16.4%	19.5%
Skew 10d	22.6%	-9.8%	72.0%	8.5%	49.3%
Call IV 25d	23.3%	13.3%	34.0%	21.5%	16.7%
Put IV 25d	37.9%	21.2%	67.5%	37.9%	36.2%
Bid-Ask Spread %	113.84	100.49	127.75	106.29	100.49
Gamma HHI	0.78	0.44	0.96	0.85	0.68
Net GEX	299.3K	3.2K	1.0M	258.2K	124.9K
Net DEX	-4.5M	-7.1M	-1.2M	-7.1M	-2.2M
Net VEX	-7.3K	-8.5K	-5.7K	-7.4K	-7.0K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.08	0.00	32.33	0.11	0.00
Total Volume	69.857	0	564	41	11
Total OI	2,485.762	1,495	3,237	2,462	1,678

Daily Data (21 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
2025-03-03	$46.30	$40.00	32.1%	9.2%	10.5%	15.3%	26.0%	16.4%	-1.1%	258.2K	-7.1M	-7.4K	0.11	106.29	37	4	1,955	507
2025-03-04	$45.47	$40.00	31.4%	9.0%	13.2%	14.8%	0.0%	7.0%	-0.9%	279.1K	-6.3M	-8.0K	0.00	113.32	14	0	1,956	509
2025-03-05	$44.66	$40.00	22.9%	6.6%	15.3%	8.8%	20.0%	20.0%	2.0%	379.8K	-5.8M	-7.4K	0.08	115.37	153	12	1,964	509
2025-03-06	$44.13	$40.00	25.6%	7.3%	15.9%	10.7%	0.0%	2.3%	-3.8%	291.4K	-5.2M	-8.5K	3.46	109.07	13	45	1,951	521
2025-03-07	$43.74	$40.00	25.7%	7.4%	16.3%	10.8%	20.1%	-3.6%	-1.0%	283.1K	-4.8M	-8.3K	0.14	115.05	7	1	1,954	572
2025-03-10	$44.12	$40.00	33.5%	9.6%	16.5%	16.3%	30.6%	12.0%	-4.4%	248.8K	-5.0M	-7.5K	0.01	105.10	97	1	1,961	572
2025-03-11	$44.23	$40.00	29.5%	10.4%	16.5%	13.5%	26.4%	2.9%	-12.0%	304.3K	-5.2M	-8.1K	17.80	114.84	30	534	1,972	573
2025-03-12	$44.68	$40.00	23.1%	6.0%	16.4%	9.0%	38.1%	6.5%	-5.9%	324.3K	-5.4M	-8.5K	1.00	108.69	12	12	1,982	1,107
2025-03-13	$44.25	$40.00	22.3%	13.7%	16.8%	8.4%	0.0%	2.4%	-7.6%	249.1K	-5.2M	-7.9K	0.00	113.33	0	0	1,984	1,119
2025-03-14	$45.19	$40.00	22.1%	7.8%	17.9%	8.2%	55.0%	-4.1%	-5.0%	368.7K	-6.1M	-7.4K	32.33	109.01	3	97	1,984	1,119
2025-03-17	$44.65	$40.00	32.0%	5.8%	18.4%	15.2%	0.0%	10.9%	-12.1%	245.1K	-5.3M	-8.0K	0.00	104.39	0	0	1,984	1,216
2025-03-18	$44.60	$40.00	18.9%	4.1%	18.2%	6.0%	0.0%	6.2%	-2.0%	427.2K	-5.1M	-7.5K	0.83	112.84	12	10	1,984	1,216
2025-03-19	$45.18	$40.00	24.9%	4.5%	18.6%	10.3%	20.0%	33.5%	-5.0%	323.8K	-6.0M	-6.6K	0.21	113.42	76	16	1,987	1,219
2025-03-20	$45.25	$0.00	27.9%	7.5%	18.6%	12.4%	0.0%	11.0%	-4.5%	660.2K	-6.2M	-7.3K	0.25	127.75	4	1	1,997	1,235
2025-03-21	$44.80	$0.00	20.9%	7.4%	17.7%	7.4%	0.0%	32.4%	1.8%	1.0M	-5.3M	-6.1K	0.11	122.06	37	4	2,001	1,236
2025-03-24	$45.09	$0.00	22.5%	6.6%	17.8%	8.5%	0.0%	50.1%	6.8%	100.4K	-1.5M	-6.0K	0.00	126.33	38	0	741	766
2025-03-25	$44.34	$0.00	28.2%	6.7%	18.8%	12.6%	0.0%	-3.7%	-3.0%	3.2K	-1.2M	-6.3K	0.00	124.13	10	0	729	766
2025-03-26	$44.91	$0.00	16.9%	5.0%	19.1%	4.6%	23.4%	27.3%	4.4%	108.3K	-1.4M	-5.8K	1.25	123.96	4	5	739	766
2025-03-27	$44.97	$45.00	13.8%	5.4%	19.1%	2.4%	0.0%	33.4%	7.4%	121.4K	-1.4M	-5.7K	0.00	108.76	161	0	743	771
2025-03-28	$45.52	$45.00	19.1%	4.8%	18.8%	6.1%	0.0%	25.1%	-2.9%	135.6K	-2.0M	-7.1K	1.00	116.46	3	3	885	771
2025-03-31	$45.95	$45.00	21.3%	6.0%	19.0%	7.7%	28.2%	19.5%	-0.3%	124.9K	-2.2M	-7.0K	0.00	100.49	11	0	876	802