OTEX Options History — May 2025

In May 2025, OTEX traded between $25.99 and $28.51. ATM implied volatility averaged 28.0%, placing in the 23.2% IV rank vs the trailing year. The 30-day expected move averaged 7.7%. IV traded below realized volatility by 3.6% (HV 20d: 31.7%). Max pain ranged from $27.50 to $27.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.84.

Notable Days

  • 2025-05-22: Highest Volume — 333 contracts
  • 2025-05-27: Largest IV spike — 53.5% change
  • 2025-05-07: Highest IV Rank — 54.0%
  • 2025-05-27: Largest Expected Move — 12.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$27.65$25.99$28.51$25.99$28.32
Max Pain$27.50$27.50$27.50$27.50$27.50
ATM IV28.0%22.3%44.1%33.8%23.2%
Expected Move7.7%6.6%12.3%9.7%6.6%
HV 20d31.7%20.6%53.4%53.4%20.6%
HV 60d36.7%36.1%38.4%38.4%36.1%
IV Rank23.2%12.2%54.0%34.3%13.8%
IV Percentile35.0%2.4%89.7%67.1%6.0%
Term Structure1.3%-33.4%13.9%-1.6%3.0%
VWIV25.4%20.7%32.5%32.5%20.7%
Skew 25d5.9%-1.0%15.0%3.7%8.8%
Skew 10d13.0%-2.3%38.8%21.0%37.4%
Call IV 25d24.2%20.7%32.0%32.0%24.6%
Put IV 25d30.0%21.6%36.9%35.7%33.4%
Bid-Ask Spread %78.4359.4694.7384.7370.91
Gamma HHI0.410.290.500.300.40
Net GEX310.4K164.0K483.6K171.5K301.4K
Net DEX-3.0M-5.6M1.2M1.2M-4.0M
Net VEX-35.7K-38.8K-32.2K-34.2K-32.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.840.003.330.150.31
Total Volume123.47611333319187
Total OI11,266.5719,69112,46612,46610,083

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-05-01$25.99$27.5033.8%9.7%53.4%34.3%32.5%3.7%-1.6%171.5K1.2M-34.2K0.1584.73N/AN/A277428,5613,905
2025-05-02$26.00$27.5031.9%9.1%50.4%30.6%24.4%5.9%-1.6%164.0K1.2M-34.3K1.8394.73N/AN/A53978,4533,921
2025-05-05$26.84$27.5028.0%8.0%51.1%23.1%28.1%3.5%2.5%281.4K-1.2M-38.2K0.7766.43N/AN/A70548,3983,893
2025-05-06$26.79$27.5029.8%7.6%44.3%26.5%29.9%4.3%4.7%275.9K-956.6K-37.4K3.1471.39N/AN/A7228,3943,883
2025-05-07$26.93$27.5044.1%7.4%44.3%54.0%25.5%4.7%4.7%299.2K-1.1M-36.6K0.7479.97N/AN/A46348,3943,880
2025-05-08$27.46$27.5028.4%7.6%31.2%23.9%23.7%5.8%3.1%379.0K-2.9M-38.8K0.2075.32N/AN/A164338,3973,856
2025-05-09$27.09$27.5026.3%7.5%28.7%19.8%24.2%5.8%5.2%347.2K-2.0M-37.7K0.5680.18N/AN/A66378,4163,858
2025-05-12$27.86$27.5028.3%7.2%28.7%23.8%24.3%-1.0%3.0%454.7K-4.3M-37.6K0.7584.68N/AN/A71538,4203,855
2025-05-13$28.17$27.5022.3%7.0%28.2%12.2%24.2%7.1%4.3%430.7K-5.0M-36.8K0.0779.43N/AN/A12798,4513,839
2025-05-14$27.84$27.5025.4%7.3%28.8%18.2%25.5%3.9%11.6%483.6K-4.5M-36.9K3.1176.29N/AN/A19598,4183,833
2025-05-15$27.98$27.5024.8%7.1%28.5%17.0%24.6%4.6%-0.6%434.8K-5.1M-35.5K0.1093.94N/AN/A1018,4213,838
2025-05-16$28.08$27.5024.5%7.0%28.5%16.4%24.1%5.1%13.9%269.9K-5.6M-36.5K0.0692.22N/AN/A5338,4233,827
2025-05-19$28.05$27.5024.1%6.9%26.7%15.7%23.6%6.0%0.9%260.0K-3.0M-34.8K0.2174.06N/AN/A2456,6583,033
2025-05-20$28.29$27.5023.8%6.8%26.0%15.2%23.3%6.3%1.2%269.7K-3.7M-35.4K1.1577.95N/AN/A20236,6913,038
2025-05-21$28.07$27.5026.1%7.5%26.1%19.4%24.7%4.1%1.7%260.4K-3.3M-35.2K0.0080.38N/AN/A18106,7113,047
2025-05-22$28.16$27.5025.8%7.4%23.2%18.8%24.4%5.8%1.2%273.5K-3.5M-35.1K0.1359.46N/AN/A295386,7263,047
2025-05-23$28.01$27.5028.0%8.0%23.4%23.0%28.0%9.5%-1.2%268.8K-3.3M-35.4K0.0165.16N/AN/A17926,9333,070
2025-05-27$28.51$27.5042.9%12.3%24.0%51.7%23.7%8.4%-33.4%300.5K-4.5M-35.2K0.8876.55N/AN/A57506,9173,070
2025-05-28$28.30$27.5023.0%6.6%24.3%13.5%0.0%15.0%4.0%308.1K-3.9M-32.6K0.0582.77N/AN/A10756,9313,035
2025-05-29$27.95$27.5024.2%6.9%24.6%15.8%27.7%5.7%1.4%283.9K-3.0M-32.2K3.3380.57N/AN/A3107,0363,038
2025-05-30$28.32$27.5023.2%6.6%20.6%13.8%20.7%8.8%3.0%301.4K-4.0M-32.7K0.3170.91N/AN/A143447,0373,046