SANM Options History — March 2025

In March 2025, SANM traded between $73.18 and $80.78. ATM implied volatility averaged 33.7%, placing in the 24.8% IV rank vs the trailing year. The 30-day expected move averaged 11.3%. IV traded below realized volatility by 2.4% (HV 20d: 36.1%). Max pain ranged from $60.00 to $85.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 0.47.

Notable Days

2025-03-04: Highest Volume — 49 contracts
2025-03-31: Largest IV spike — 48.4% change
2025-03-10: Highest IV Rank — 49.0%
2025-03-10: Largest Expected Move — 14.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$76.82	$73.18	$80.78	$76.50	$76.60
Max Pain	$75.75	$60.00	$85.00	$85.00	$75.00
ATM IV	33.7%	21.5%	48.7%	38.9%	31.9%
Expected Move	11.3%	9.8%	14.0%	11.2%	12.3%
HV 20d	36.1%	30.7%	40.1%	40.1%	30.7%
HV 60d	32.9%	31.4%	34.3%	31.4%	34.3%
IV Rank	24.8%	5.1%	49.0%	33.2%	21.8%
IV Percentile	51.6%	2.8%	85.7%	71.0%	54.0%
Term Structure	4.9%	-8.3%	16.1%	-8.3%	10.4%
VWIV	40.8%	33.8%	50.2%	33.8%	41.9%
Skew 25d	3.3%	-2.8%	9.5%	-1.4%	3.1%
Skew 10d	6.6%	-7.1%	19.6%	3.7%	11.2%
Call IV 25d	32.5%	25.0%	39.7%	34.8%	33.4%
Put IV 25d	35.8%	27.5%	46.0%	33.4%	36.5%
Bid-Ask Spread %	91.87	69.15	106.31	99.60	87.41
Gamma HHI	0.35	0.23	0.54	0.30	0.42
Net GEX	40.3K	6.4K	85.8K	28.8K	40.1K
Net DEX	-569.0K	-1.2M	-167.8K	-493.1K	-545.7K
Net VEX	-3.6K	-4.5K	-2.8K	-3.9K	-2.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.47	0.00	2.33	0.00	0.13
Total Volume	10.19	0	49	25	9
Total OI	694.81	548	801	632	583

Daily Data (21 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
2025-03-03	$76.50	$85.00	38.9%	11.2%	40.1%	33.2%	33.8%	-1.4%	-8.3%	28.8K	-493.1K	-3.9K	0.00	99.60	25	0	413	219
2025-03-04	$75.88	$85.00	36.6%	10.5%	39.8%	29.5%	43.6%	7.5%	-3.7%	30.1K	-398.0K	-4.2K	0.44	93.92	34	15	430	219
2025-03-05	$77.16	$80.00	35.4%	10.1%	33.1%	27.5%	0.0%	2.9%	0.3%	38.4K	-604.1K	-4.2K	0.00	96.22	2	0	464	234
2025-03-06	$75.67	$80.00	39.2%	11.2%	33.1%	33.6%	0.0%	2.5%	6.4%	30.0K	-450.5K	-4.4K	0.00	96.03	1	0	465	242
2025-03-07	$76.38	$80.00	43.7%	12.5%	33.6%	40.9%	37.4%	9.5%	2.6%	31.4K	-470.1K	-4.5K	0.00	96.33	10	0	466	242
2025-03-10	$74.25	$80.00	48.7%	14.0%	34.5%	49.0%	50.0%	-0.3%	-1.1%	10.3K	-194.8K	-4.2K	2.33	92.23	3	7	474	293
2025-03-11	$75.67	$80.00	38.5%	13.4%	32.9%	32.6%	50.2%	6.4%	0.0%	18.7K	-356.0K	-4.2K	2.00	93.41	2	4	474	300
2025-03-12	$75.13	$80.00	37.3%	13.1%	32.9%	30.6%	0.0%	7.3%	0.9%	16.8K	-364.1K	-4.1K	0.00	98.95	1	0	476	304
2025-03-13	$73.18	$80.00	39.3%	10.7%	33.1%	33.8%	0.0%	9.4%	0.3%	6.4K	-167.8K	-3.8K	0.00	103.17	0	0	477	304
2025-03-14	$75.51	$80.00	36.5%	10.6%	35.9%	29.3%	0.0%	6.7%	5.3%	16.2K	-288.8K	-3.7K	1.00	100.55	1	1	477	304
2025-03-17	$76.29	$60.00	33.9%	11.2%	36.4%	25.2%	0.0%	2.6%	4.2%	34.1K	-416.2K	-3.4K	0.00	84.74	2	0	478	305
2025-03-18	$76.38	$60.00	33.9%	10.9%	36.1%	25.1%	39.1%	2.7%	4.1%	41.1K	-433.5K	-3.4K	1.00	83.09	7	7	481	305
2025-03-19	$78.86	$60.00	27.3%	9.8%	38.4%	14.5%	36.9%	4.9%	6.5%	57.1K	-796.4K	-3.4K	0.60	85.17	10	6	483	307
2025-03-20	$78.81	$0.00	29.1%	10.6%	37.9%	17.3%	36.2%	3.2%	7.3%	57.3K	-786.2K	-3.4K	1.00	106.31	5	5	487	307
2025-03-21	$78.15	$75.00	28.9%	11.4%	37.1%	17.1%	0.0%	1.0%	10.9%	59.4K	-574.1K	-3.3K	0.00	78.18	6	0	489	312
2025-03-24	$80.78	$75.00	28.0%	11.2%	39.4%	15.6%	38.6%	1.3%	11.0%	75.2K	-1.2M	-3.2K	0.00	69.15	6	0	358	190
2025-03-25	$79.63	$75.00	23.0%	11.0%	38.9%	7.5%	39.2%	2.5%	16.1%	85.8K	-1.1M	-3.0K	0.00	94.01	5	0	359	190
2025-03-26	$78.55	$75.00	29.1%	10.4%	38.8%	17.4%	0.0%	-1.8%	8.2%	65.8K	-908.1K	-3.1K	0.00	88.87	0	0	360	190
2025-03-27	$77.89	$75.00	27.4%	11.0%	37.7%	14.6%	0.0%	2.5%	11.0%	64.7K	-805.1K	-2.9K	0.00	98.23	0	38	360	190
2025-03-28	$76.02	$75.00	21.5%	10.7%	38.5%	5.1%	42.2%	-2.8%	11.1%	39.0K	-550.3K	-3.0K	0.00	83.74	2	0	360	220
2025-03-31	$76.60	$75.00	31.9%	12.3%	30.7%	21.8%	41.9%	3.1%	10.4%	40.1K	-545.7K	-2.8K	0.13	87.41	8	1	362	221