SANM Options History — May 2025

In May 2025, SANM traded between $79.19 and $86.85. ATM implied volatility averaged 28.0%, placing in the 15.6% IV rank vs the trailing year. The 30-day expected move averaged 7.7%. IV traded below realized volatility by 13.4% (HV 20d: 41.4%). Max pain ranged from $75.00 to $80.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 20 of 21 days. Put/call ratio averaged 0.95.

Notable Days

2025-05-08: Highest Volume — 163 contracts
2025-05-12: Largest IV spike — 62.8% change
2025-05-01: Highest IV Rank — 25.1%
2025-05-01: Largest Expected Move — 9.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$82.54	$79.19	$86.85	$79.34	$84.23
Max Pain	$76.19	$75.00	$80.00	$75.00	$80.00
ATM IV	28.0%	18.9%	33.9%	33.9%	27.5%
Expected Move	7.7%	6.3%	9.7%	9.7%	7.9%
HV 20d	41.4%	31.9%	69.4%	69.4%	31.9%
HV 60d	47.8%	46.9%	48.8%	47.4%	46.9%
IV Rank	15.6%	1.0%	25.1%	25.1%	14.8%
IV Percentile	30.3%	0.4%	58.3%	58.3%	24.2%
Term Structure	3.1%	-3.7%	9.6%	-3.7%	3.0%
VWIV	28.1%	21.8%	35.1%	34.4%	22.1%
Skew 25d	-0.7%	-8.4%	5.4%	3.4%	-7.8%
Skew 10d	6.9%	-2.3%	16.4%	6.2%	8.9%
Call IV 25d	26.8%	22.4%	32.2%	32.2%	26.8%
Put IV 25d	26.1%	19.1%	35.6%	35.6%	19.1%
Bid-Ask Spread %	86.29	74.24	99.88	80.00	83.66
Gamma HHI	0.30	0.19	0.41	0.24	0.35
Net GEX	84.4K	27.2K	128.3K	27.2K	128.3K
Net DEX	-1.6M	-2.1M	-929.0K	-997.0K	-2.1M
Net VEX	-5.8K	-8.7K	-3.5K	-3.5K	-8.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.95	0.00	9.33	0.00	0.35
Total Volume	52.571	9	163	48	58
Total OI	787.714	552	907	666	900

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
2025-05-01	$79.34	$75.00	33.9%	9.7%	69.4%	25.1%	34.4%	3.4%	-3.7%	27.2K	-997.0K	-3.5K	0.00	80.00	48	0	356	310
2025-05-02	$80.09	$75.00	28.1%	8.1%	57.5%	15.8%	30.5%	2.3%	2.8%	50.7K	-1.2M	-3.8K	0.15	74.24	67	10	403	310
2025-05-05	$79.22	$75.00	28.7%	7.6%	56.6%	16.8%	26.2%	-0.6%	3.1%	62.4K	-1.2M	-4.0K	0.00	82.24	9	0	469	317
2025-05-06	$79.19	$75.00	33.3%	7.7%	56.3%	24.1%	31.4%	-0.8%	2.0%	59.1K	-1.2M	-4.2K	0.09	83.92	11	1	477	317
2025-05-07	$79.52	$75.00	31.8%	8.6%	56.3%	21.7%	35.1%	2.4%	1.1%	70.5K	-1.3M	-4.1K	3.63	84.11	8	29	486	317
2025-05-08	$81.13	$75.00	32.0%	8.4%	40.6%	22.1%	29.9%	-8.4%	3.1%	79.5K	-1.6M	-4.0K	0.03	85.13	159	4	492	342
2025-05-09	$80.02	$75.00	18.9%	7.8%	35.1%	1.0%	27.3%	0.3%	5.0%	74.1K	-1.2M	-5.5K	0.08	82.99	13	1	507	345
2025-05-12	$82.99	$75.00	30.8%	6.3%	36.3%	20.1%	0.0%	4.2%	5.5%	101.9K	-1.9M	-5.5K	0.00	99.88	32	0	510	345
2025-05-13	$85.32	$75.00	33.2%	6.9%	37.1%	24.0%	26.3%	-4.1%	1.2%	109.1K	-2.1M	-5.9K	0.11	91.31	9	1	531	345
2025-05-14	$85.14	$75.00	23.4%	6.7%	37.0%	8.2%	24.7%	-0.2%	3.1%	103.3K	-2.1M	-5.6K	9.33	90.95	3	28	526	346
2025-05-15	$83.79	$75.00	24.5%	7.0%	35.6%	9.9%	21.8%	-3.7%	2.7%	97.5K	-1.9M	-5.7K	0.20	97.09	10	2	527	374
2025-05-16	$84.45	$75.00	23.0%	6.6%	35.5%	7.6%	0.0%	-1.5%	4.1%	107.0K	-2.0M	-5.8K	1.34	99.77	41	55	532	375
2025-05-19	$80.82	$75.00	26.7%	7.7%	38.1%	13.6%	27.3%	0.5%	4.5%	58.1K	-929.0K	-5.3K	1.07	88.80	56	60	417	135
2025-05-20	$82.48	$75.00	27.7%	7.9%	37.9%	15.1%	26.2%	3.8%	7.0%	76.7K	-1.3M	-6.4K	2.16	82.42	25	54	465	191
2025-05-21	$82.18	$75.00	23.8%	6.8%	36.0%	8.9%	29.4%	-0.7%	9.6%	74.4K	-1.2M	-6.9K	0.71	92.75	14	10	473	245
2025-05-22	$84.02	$75.00	26.5%	7.6%	35.3%	13.2%	26.6%	2.5%	3.5%	85.0K	-1.5M	-7.1K	0.50	80.56	16	8	481	245
2025-05-23	$84.34	$80.00	27.3%	7.8%	34.2%	14.5%	27.3%	-5.2%	1.8%	83.7K	-1.5M	-7.2K	0.00	89.53	15	0	486	249
2025-05-27	$86.85	$80.00	29.2%	8.4%	34.3%	17.6%	28.5%	1.3%	0.8%	104.2K	-2.0M	-7.0K	0.00	81.81	90	0	493	249
2025-05-28	$84.41	$80.00	29.6%	8.5%	35.5%	18.2%	26.9%	-8.2%	2.3%	103.6K	-1.8M	-7.5K	0.01	83.28	105	1	541	249
2025-05-29	$83.86	$80.00	28.0%	8.0%	33.8%	15.6%	31.5%	5.4%	2.8%	115.4K	-1.9M	-8.2K	0.28	77.72	40	11	605	259
2025-05-30	$84.23	$80.00	27.5%	7.9%	31.9%	14.8%	22.1%	-7.8%	3.0%	128.3K	-2.1M	-8.7K	0.35	83.66	43	15	636	264