SANM Options History — January 2025

In January 2025, SANM traded between $75.22 and $84.69. ATM implied volatility averaged 35.3%, placing in the 27.4% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded above realized volatility by 12.2% (HV 20d: 23.1%). Max pain ranged from $70.00 to $80.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 4 of 20 days. Put/call ratio averaged 0.40.

Notable Days

2025-01-27: Highest Volume — 506 contracts
2025-01-28: Largest IV drop — 37.4% change
2025-01-27: Highest IV Rank — 44.9%
2025-01-27: Largest Expected Move — 13.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$80.82	$75.22	$84.69	$75.22	$83.81
Max Pain	$75.00	$70.00	$80.00	$80.00	$80.00
ATM IV	35.3%	24.1%	46.2%	28.3%	29.1%
Expected Move	10.8%	6.9%	13.2%	8.1%	8.3%
HV 20d	23.1%	18.2%	32.6%	18.2%	31.3%
HV 60d	34.6%	33.8%	36.5%	33.8%	36.1%
IV Rank	27.4%	9.3%	44.9%	16.2%	17.3%
IV Percentile	54.9%	5.2%	82.5%	34.5%	38.1%
Term Structure	-3.9%	-10.8%	10.0%	9.0%	-2.5%
VWIV	38.6%	24.5%	58.1%	32.3%	31.6%
Skew 25d	1.5%	-12.3%	13.8%	1.7%	-2.6%
Skew 10d	6.8%	-13.0%	40.9%	4.7%	40.9%
Call IV 25d	36.3%	25.5%	52.6%	30.5%	29.7%
Put IV 25d	37.9%	20.9%	57.9%	32.2%	27.1%
Bid-Ask Spread %	95.20	66.99	102.09	98.65	97.74
Gamma HHI	0.35	0.23	0.55	0.24	0.40
Net GEX	23.5K	-59.8K	141.6K	-38.4K	136.0K
Net DEX	-1.1M	-2.2M	485.3K	485.3K	-2.2M
Net VEX	-5.1K	-5.7K	-4.1K	-5.7K	-5.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.00	2.20	0.78	0.40
Total Volume	49.05	0	506	16	60
Total OI	859.15	439	1,028	934	1,026

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	$75.22	$80.00	28.3%	8.1%	18.2%	16.2%	32.3%	1.7%	9.0%	-38.4K	485.3K	-5.7K	0.78	98.65	9	7	464	470
2025-01-03	$76.39	$80.00	27.0%	7.7%	19.3%	14.0%	26.2%	13.8%	10.0%	-43.8K	289.4K	-5.7K	0.00	100.33	5	0	473	474
2025-01-06	$77.23	$70.00	30.2%	11.0%	19.7%	19.2%	0.0%	-12.3%	-4.2%	-42.9K	-13.1K	-5.7K	0.00	99.62	14	0	472	474
2025-01-07	$76.94	$70.00	29.6%	11.5%	19.7%	18.1%	0.0%	6.2%	-7.5%	-48.9K	-9.3K	-5.5K	0.00	99.15	24	0	486	474
2025-01-08	$77.16	$70.00	30.5%	11.7%	18.6%	19.6%	0.0%	-9.2%	-10.8%	-50.5K	-33.6K	-5.5K	0.00	100.38	1	0	496	474
2025-01-10	$76.91	$70.00	32.0%	12.1%	18.5%	22.1%	0.0%	11.5%	-10.3%	-53.4K	-22.3K	-5.5K	0.00	101.73	0	2	501	474
2025-01-13	$79.42	$70.00	36.7%	10.9%	21.5%	29.6%	38.4%	10.3%	-3.2%	-59.8K	-720.3K	-5.3K	0.00	94.86	42	0	501	474
2025-01-14	$81.23	$70.00	38.1%	12.4%	22.7%	31.9%	0.0%	1.5%	-6.7%	-23.6K	-1.4M	-5.5K	0.00	101.11	5	0	522	474
2025-01-15	$82.54	$70.00	41.8%	12.0%	22.7%	37.8%	0.0%	-7.6%	-6.4%	44.0K	-2.0M	-4.8K	0.00	100.36	0	0	527	474
2025-01-16	$83.09	$70.00	42.8%	12.3%	22.6%	39.4%	0.0%	-11.8%	-7.2%	90.3K	-2.1M	-4.7K	0.00	97.57	18	0	527	474
2025-01-17	$83.17	$70.00	42.0%	12.0%	20.6%	38.2%	58.1%	2.9%	-7.6%	35.5K	-2.1M	-4.3K	0.00	98.78	2	0	531	474
2025-01-21	$84.69	$70.00	42.0%	12.1%	19.9%	38.2%	42.1%	5.2%	-3.7%	33.5K	-1.4M	-4.2K	1.18	94.24	11	13	274	165
2025-01-22	$83.97	$80.00	43.4%	12.4%	20.4%	40.4%	51.4%	9.0%	-7.6%	36.6K	-1.4M	-4.1K	2.20	83.64	5	11	284	178
2025-01-23	$83.63	$80.00	44.5%	12.8%	20.1%	42.3%	43.3%	5.3%	-8.4%	30.1K	-1.3M	-4.6K	0.50	82.73	12	6	286	191
2025-01-24	$83.78	$80.00	44.6%	12.8%	20.1%	42.3%	45.2%	7.3%	-9.0%	29.8K	-1.3M	-4.8K	0.00	90.79	40	0	298	197
2025-01-27	$78.88	$80.00	46.2%	13.2%	30.4%	44.9%	49.0%	1.6%	-7.7%	29.2K	-917.7K	-4.8K	0.50	66.99	337	169	334	197
2025-01-28	$81.64	$80.00	28.9%	8.3%	32.6%	17.1%	30.4%	2.3%	-0.3%	101.0K	-1.7M	-5.4K	0.48	100.27	69	33	671	346
2025-01-29	$83.00	$80.00	24.1%	6.9%	31.7%	9.3%	28.6%	-4.6%	3.3%	123.6K	-2.0M	-5.3K	0.09	102.09	64	6	665	333
2025-01-30	$83.66	$80.00	24.9%	7.1%	31.3%	10.6%	24.5%	0.7%	2.3%	141.6K	-2.2M	-5.7K	1.00	93.01	8	8	697	331
2025-01-31	$83.81	$80.00	29.1%	8.3%	31.3%	17.3%	31.6%	-2.6%	-2.5%	136.0K	-2.2M	-5.3K	0.40	97.74	43	17	703	323