SANM Options History — February 2025

In February 2025, SANM traded between $81.73 and $90.75. ATM implied volatility averaged 30.5%, placing in the 19.7% IV rank vs the trailing year. The 30-day expected move averaged 8.7%. IV traded below realized volatility by 6.0% (HV 20d: 36.5%). Max pain ranged from $75.00 to $85.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.83.

Notable Days

2025-02-04: Highest Volume — 122 contracts
2025-02-10: Largest IV spike — 48.3% change
2025-02-25: Highest IV Rank — 32.6%
2025-02-25: Largest Expected Move — 11.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$86.84	$81.73	$90.75	$82.28	$81.73
Max Pain	$78.16	$75.00	$85.00	$80.00	$85.00
ATM IV	30.5%	21.5%	38.6%	28.6%	37.3%
Expected Move	8.7%	6.4%	11.1%	8.2%	10.7%
HV 20d	36.5%	31.8%	39.5%	32.0%	32.9%
HV 60d	28.4%	26.7%	37.9%	36.2%	28.4%
IV Rank	19.7%	5.2%	32.6%	16.6%	30.6%
IV Percentile	44.8%	2.8%	70.2%	34.1%	68.3%
Term Structure	-0.6%	-7.2%	6.9%	6.9%	-4.6%
VWIV	30.0%	21.4%	40.1%	21.4%	29.8%
Skew 25d	3.5%	-8.2%	14.9%	6.8%	-1.3%
Skew 10d	5.9%	-6.7%	14.4%	2.5%	-6.5%
Call IV 25d	29.2%	17.8%	37.3%	24.6%	34.8%
Put IV 25d	32.7%	20.5%	40.1%	31.4%	33.5%
Bid-Ask Spread %	96.91	89.72	106.29	103.23	96.20
Gamma HHI	0.51	0.26	0.80	0.38	0.28
Net GEX	195.5K	45.4K	398.6K	130.3K	45.9K
Net DEX	-2.9M	-4.5M	-1.1M	-1.9M	-1.1M
Net VEX	-4.9K	-6.0K	-4.0K	-5.5K	-4.2K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.83	0.00	10.00	0.00	0.00
Total Volume	22.421	1	122	33	4
Total OI	967.737	567	1,123	1,082	628

Daily Data (19 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
2025-02-03	$82.28	$80.00	28.6%	8.2%	32.0%	16.6%	21.4%	6.8%	6.9%	130.3K	-1.9M	-5.5K	0.00	103.23	33	0	742	340
2025-02-04	$87.34	$80.00	32.0%	9.2%	37.4%	22.1%	30.6%	3.4%	-7.2%	201.8K	-3.1M	-5.8K	0.51	91.51	81	41	732	340
2025-02-05	$87.75	$80.00	27.5%	7.9%	37.4%	14.9%	28.3%	-8.2%	-0.7%	225.4K	-3.5M	-6.0K	0.04	101.67	76	3	757	337
2025-02-06	$87.53	$80.00	27.9%	6.4%	37.4%	15.4%	0.0%	6.0%	1.5%	229.1K	-3.4M	-5.9K	0.00	102.27	12	0	763	337
2025-02-07	$86.63	$80.00	21.5%	8.1%	37.8%	5.2%	0.0%	14.9%	-0.1%	210.4K	-2.9M	-5.2K	0.00	106.29	1	0	760	340
2025-02-10	$89.35	$80.00	31.9%	8.1%	38.7%	21.9%	28.3%	2.9%	-0.2%	240.0K	-3.9M	-5.6K	0.05	96.16	19	1	760	340
2025-02-11	$88.47	$80.00	30.9%	7.9%	38.0%	20.4%	0.0%	6.8%	0.3%	248.6K	-3.6M	-5.2K	1.00	95.05	2	2	768	341
2025-02-12	$88.89	$80.00	28.2%	8.1%	37.5%	15.9%	28.5%	5.1%	0.0%	265.2K	-3.7M	-5.4K	0.00	95.43	2	0	766	343
2025-02-13	$89.38	$80.00	28.7%	8.2%	37.2%	16.8%	40.1%	3.4%	0.4%	270.8K	-3.9M	-5.3K	0.06	97.11	17	1	766	343
2025-02-14	$89.22	$75.00	29.0%	8.3%	37.3%	17.1%	0.0%	-4.3%	1.7%	258.8K	-3.9M	-5.5K	0.00	100.59	11	0	763	344
2025-02-18	$89.98	$75.00	30.0%	8.6%	37.3%	18.8%	0.0%	3.4%	0.6%	319.1K	-4.1M	-4.3K	0.00	95.17	2	0	764	344
2025-02-19	$90.75	$75.00	29.3%	8.4%	37.0%	17.6%	0.0%	2.1%	1.2%	387.9K	-4.5M	-4.1K	10.00	95.61	1	10	765	344
2025-02-20	$88.63	$75.00	29.0%	8.3%	38.0%	17.2%	0.0%	-3.4%	1.5%	398.6K	-3.3M	-4.2K	0.10	97.57	20	2	765	354
2025-02-21	$86.19	$75.00	33.6%	9.6%	39.5%	24.6%	0.0%	5.3%	-2.2%	60.1K	-2.5M	-4.1K	0.18	97.49	11	2	767	356
2025-02-24	$85.69	$75.00	30.7%	8.8%	39.5%	19.9%	30.2%	8.4%	-1.2%	60.6K	-1.6M	-4.0K	0.50	95.07	2	1	387	180
2025-02-25	$83.66	$75.00	38.6%	11.1%	33.7%	32.6%	0.0%	7.2%	-7.0%	56.8K	-1.4M	-4.1K	0.00	94.54	5	0	393	181
2025-02-26	$84.45	$75.00	31.6%	9.1%	31.8%	21.4%	33.1%	2.0%	0.2%	60.6K	-1.5M	-4.1K	2.27	89.72	11	25	394	181
2025-02-27	$82.02	$80.00	33.6%	9.6%	33.1%	24.6%	29.8%	6.0%	-3.5%	45.4K	-1.2M	-4.1K	1.00	90.62	14	14	397	205
2025-02-28	$81.73	$85.00	37.3%	10.7%	32.9%	30.6%	0.0%	-1.3%	-4.6%	45.9K	-1.1M	-4.2K	0.00	96.20	4	0	409	219