S Options History — July 2025

In July 2025, S traded between $17.30 and $19.84. ATM implied volatility averaged 44.8%, placing in the 19.6% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded above realized volatility by 11.1% (HV 20d: 33.7%). Max pain ranged from $17.00 to $19.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 0.22.

Notable Days

2025-07-21: Highest Volume — 106,193 contracts
2025-07-21: Largest IV spike — 38.3% change
2025-07-28: Highest IV Rank — 52.6%
2025-07-23: Largest Expected Move — 15.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.50	$17.30	$19.84	$18.12	$18.23
Max Pain	$18.11	$17.00	$19.00	$17.00	$19.00
ATM IV	44.8%	35.5%	60.5%	36.7%	56.0%
Expected Move	12.3%	10.0%	15.8%	10.1%	14.0%
HV 20d	33.7%	22.2%	46.9%	28.3%	46.9%
HV 60d	44.1%	39.8%	55.4%	55.4%	43.4%
IV Rank	19.6%	0.0%	52.6%	1.8%	43.0%
IV Percentile	31.1%	0.0%	69.4%	1.6%	62.3%
Term Structure	2.4%	-1.5%	11.5%	1.0%	4.2%
VWIV	44.8%	35.4%	59.5%	35.4%	50.9%
Skew 25d	-0.9%	-6.9%	2.8%	2.1%	-1.8%
Skew 10d	2.1%	-9.1%	17.9%	2.9%	14.7%
Call IV 25d	46.1%	35.0%	63.2%	35.9%	60.3%
Put IV 25d	45.2%	37.3%	58.6%	37.9%	58.6%
Bid-Ask Spread %	45.74	18.20	68.87	66.05	61.12
Gamma HHI	0.11	0.09	0.17	0.11	0.10
Net GEX	2.6M	1.3M	4.2M	1.5M	2.2M
Net DEX	-62.5M	-112.0M	-27.5M	-42.8M	-53.3M
Net VEX	-684.0K	-869.3K	-551.2K	-601.0K	-792.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.22	0.07	0.58	0.26	0.21
Total Volume	14,217.591	2,880	106,193	4,077	7,719
Total OI	215,279.682	178,169	270,695	179,325	270,695

Daily Data (22 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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-07-01	$18.12	$17.00	36.7%	10.1%	28.3%	1.8%	35.4%	2.1%	1.0%	1.5M	-42.8M	-601.0K	0.26	66.05	N/A	N/A	3,224	853	134,296	45,029
2025-07-02	$17.99	$17.50	37.0%	10.0%	22.2%	2.4%	35.8%	2.1%	-1.0%	1.5M	-41.3M	-593.5K	0.58	68.87	N/A	N/A	1,868	1,080	135,073	45,308
2025-07-03	$18.40	$18.00	35.5%	10.8%	23.5%	0.0%	37.3%	2.3%	0.4%	2.0M	-50.8M	-612.0K	0.15	36.98	N/A	N/A	3,684	560	135,394	45,078
2025-07-07	$18.21	$18.00	39.3%	11.4%	23.8%	7.9%	41.6%	0.7%	0.4%	1.6M	-47.1M	-602.5K	0.13	28.72	N/A	N/A	8,346	1,121	134,215	43,954
2025-07-08	$18.41	$18.00	38.9%	11.2%	24.0%	7.1%	40.1%	2.4%	0.5%	2.0M	-53.0M	-617.5K	0.20	33.48	N/A	N/A	3,749	750	140,691	44,637
2025-07-09	$18.49	$18.00	37.7%	11.1%	24.0%	4.7%	38.7%	2.8%	-0.4%	2.2M	-55.1M	-624.3K	0.13	32.86	N/A	N/A	2,539	341	142,743	45,067
2025-07-10	$18.06	$18.00	38.0%	10.9%	25.4%	5.3%	37.7%	1.1%	-0.1%	1.9M	-45.1M	-599.1K	0.27	18.97	N/A	N/A	3,948	1,055	143,916	45,246
2025-07-11	$17.30	$18.00	38.0%	11.1%	29.6%	5.2%	39.2%	2.3%	1.6%	1.3M	-27.5M	-551.2K	0.11	25.79	N/A	N/A	7,898	879	145,453	45,902
2025-07-14	$17.80	$18.00	39.4%	11.3%	31.5%	8.3%	40.7%	0.4%	0.8%	1.8M	-40.3M	-585.0K	0.07	20.67	N/A	N/A	7,080	521	146,226	45,460
2025-07-15	$17.63	$18.00	38.2%	10.9%	28.4%	5.7%	40.1%	1.6%	0.4%	1.8M	-36.0M	-571.9K	0.18	18.20	N/A	N/A	5,438	994	148,525	45,734
2025-07-16	$17.70	$18.00	38.8%	11.1%	27.8%	7.0%	39.1%	0.6%	-0.4%	2.0M	-38.1M	-581.3K	0.07	49.15	N/A	N/A	6,852	501	152,465	46,521
2025-07-17	$17.82	$18.00	38.4%	11.0%	27.4%	6.2%	38.7%	1.0%	0.3%	2.7M	-42.2M	-583.9K	0.11	22.54	N/A	N/A	4,641	518	156,409	46,708
2025-07-18	$18.07	$18.00	38.2%	10.9%	27.4%	5.6%	38.1%	0.6%	0.8%	3.9M	-49.3M	-594.2K	0.23	60.81	N/A	N/A	7,332	1,717	157,212	46,959
2025-07-21	$19.84	$18.00	52.8%	14.8%	42.2%	36.3%	53.8%	-2.7%	6.3%	2.8M	-97.1M	-701.1K	0.11	58.21	N/A	N/A	95,389	10,804	149,534	46,220
2025-07-22	$19.30	$18.00	51.4%	15.3%	43.8%	33.4%	58.1%	-2.1%	10.1%	3.7M	-96.6M	-783.3K	0.26	49.49	N/A	N/A	26,766	7,083	184,966	52,283
2025-07-23	$19.44	$18.00	53.1%	15.8%	43.7%	37.0%	59.5%	-6.0%	11.5%	4.0M	-104.3M	-836.0K	0.22	55.73	N/A	N/A	17,663	3,818	198,823	57,125
2025-07-24	$19.52	$18.50	54.5%	15.0%	43.7%	40.1%	57.6%	-5.7%	6.1%	4.0M	-103.9M	-849.1K	0.14	56.03	N/A	N/A	11,680	1,617	202,202	59,601
2025-07-25	$19.66	$18.50	54.3%	14.0%	43.6%	39.5%	54.4%	-5.8%	7.7%	4.2M	-112.0M	-869.3K	0.23	59.70	N/A	N/A	8,252	1,918	206,493	60,436
2025-07-28	$19.56	$18.50	60.5%	14.7%	43.3%	52.6%	54.9%	-5.7%	-1.5%	3.6M	-101.9M	-862.1K	0.28	62.74	N/A	N/A	9,548	2,715	196,899	57,579
2025-07-29	$18.70	$18.50	56.7%	12.8%	46.1%	44.6%	47.7%	-2.9%	-1.0%	2.8M	-69.7M	-799.5K	0.37	56.01	N/A	N/A	16,535	6,154	200,186	59,586
2025-07-30	$18.69	$19.00	53.1%	13.0%	46.0%	37.1%	46.6%	-6.9%	4.6%	2.9M	-68.5M	-838.0K	0.42	64.07	N/A	N/A	5,391	2,246	206,485	62,819
2025-07-31	$18.23	$19.00	56.0%	14.0%	46.9%	43.0%	50.9%	-1.8%	4.2%	2.2M	-53.3M	-792.2K	0.21	61.12	N/A	N/A	6,375	1,344	207,256	63,439