OPEN Options History — March 2025

In March 2025, OPEN traded between $1.02 and $1.25. ATM implied volatility averaged 90.9%, placing in the 40.2% IV rank vs the trailing year. The 30-day expected move averaged 30.5%. IV traded above realized volatility by 5.2% (HV 20d: 85.7%). Max pain ranged from $1.50 to $1.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.23.

Notable Days

  • 2025-03-03: Highest Volume — 17,198 contracts
  • 2025-03-28: Largest IV spike — 47.2% change
  • 2025-03-11: Highest IV Rank — 60.3%
  • 2025-03-14: Largest Expected Move — 34.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$1.18$1.02$1.25$1.19$1.02
Max Pain$1.50$1.50$1.50$1.50$1.50
ATM IV90.9%58.3%106.8%83.4%96.5%
Expected Move30.5%20.1%34.5%20.1%32.2%
HV 20d85.7%76.3%96.1%76.3%83.7%
HV 60d76.0%72.1%79.7%72.1%79.7%
IV Rank40.2%0.0%60.3%30.4%48.0%
IV Percentile38.9%0.0%69.0%18.3%40.5%
Term Structure7.5%-26.9%49.1%-10.7%-0.5%
VWIV105.4%71.7%136.6%89.3%117.2%
Skew 25d-4.7%-43.6%29.1%-15.7%-10.7%
Skew 10d-0.2%-39.7%45.5%-25.8%-18.0%
Call IV 25d96.8%82.5%113.3%111.9%111.6%
Put IV 25d92.1%48.6%111.6%96.2%101.0%
Bid-Ask Spread %9.544.2540.7040.705.88
Gamma HHI0.130.120.150.120.13
Net GEX87.4K68.6K99.3K85.0K68.6K
Net DEX-6.9M-7.7M-4.8M-6.6M-4.8M
Net VEX-80.5K-88.2K-65.9K-81.7K-65.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.230.041.180.140.25
Total Volume7,234.1432,12217,19817,1987,550
Total OI342,793.238327,680355,117327,680338,848

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-03-03$1.19$1.5083.4%20.1%76.3%30.4%89.3%-15.7%-10.7%85.0K-6.6M-81.7K0.1440.7015,0252,173284,84142,839
2025-03-04$1.25$1.5099.8%31.6%76.9%51.3%98.1%16.5%-26.9%98.4K-7.7M-87.5K0.1312.3313,7461,758288,84643,746
2025-03-05$1.23$1.50102.4%26.5%76.7%54.6%98.6%3.6%-1.0%89.2K-7.5M-88.2K0.188.254,870881293,74544,497
2025-03-06$1.17$1.5092.4%30.8%76.8%41.8%81.2%-20.6%11.9%81.4K-6.6M-82.9K0.209.344,253872294,83744,629
2025-03-07$1.21$1.5087.2%27.9%78.2%35.3%71.7%3.6%41.5%87.2K-7.1M-86.0K0.269.386,1121,581296,47544,076
2025-03-10$1.23$1.50105.8%27.1%77.7%59.0%108.4%29.1%-1.7%87.6K-6.9M-83.3K0.069.7712,781703289,66742,926
2025-03-11$1.12$1.50106.8%32.6%82.3%60.3%132.4%2.8%-3.1%71.8K-5.8M-75.9K0.188.878,2091,470294,05943,229
2025-03-12$1.21$1.50102.3%30.0%87.7%54.4%77.7%7.7%0.3%99.3K-7.7M-84.7K0.087.277,520585299,02843,423
2025-03-13$1.13$1.50103.5%27.6%86.9%56.1%104.0%3.4%-6.0%79.4K-6.1M-79.2K0.157.283,808556303,45543,552
2025-03-14$1.13$1.50100.8%34.5%86.5%52.6%136.6%5.1%-12.1%81.7K-6.6M-78.8K0.1112.474,538497306,10243,783
2025-03-17$1.21$1.50104.5%31.3%90.3%57.3%110.1%7.3%-12.9%89.3K-7.2M-82.1K0.049.6111,388484301,21043,192
2025-03-18$1.13$1.50102.3%32.5%91.3%54.4%114.9%-0.1%-5.0%84.7K-6.4M-76.3K1.184.251,2631,489307,61843,448
2025-03-19$1.21$1.5085.1%31.3%96.1%32.6%109.6%1.9%46.2%92.9K-7.4M-82.3K0.1410.696,627939308,24044,353
2025-03-20$1.21$1.5098.3%31.7%94.9%49.4%111.5%-5.3%1.8%96.7K-7.4M-83.1K0.186.013,911696309,88744,556
2025-03-21$1.19$1.5099.1%32.0%93.3%50.3%106.6%2.0%0.1%90.8K-7.4M-82.7K0.185.841,799323310,53344,584
2025-03-24$1.23$1.5062.2%33.7%93.6%3.3%103.9%-22.9%35.7%89.8K-7.6M-78.5K0.045.917,142320295,12041,480
2025-03-25$1.21$1.5059.2%32.5%91.8%0.0%105.9%-43.6%1.1%94.0K-7.5M-78.5K0.465.822,2081,024300,72741,515
2025-03-26$1.19$1.5058.3%30.6%89.9%0.0%111.2%-26.4%37.6%91.6K-7.3M-80.3K0.597.172,0261,192302,06042,293
2025-03-27$1.17$1.5064.5%31.0%86.3%7.7%108.1%-38.9%49.1%90.2K-7.2M-78.9K0.136.522,462322302,00442,991
2025-03-28$1.13$1.5094.8%32.8%82.7%45.9%115.6%2.5%12.5%85.7K-6.5M-74.2K0.057.026,478336303,19843,046
2025-03-31$1.02$1.5096.5%32.2%83.7%48.0%117.2%-10.7%-0.5%68.6K-4.8M-65.9K0.255.886,0311,519297,74641,102