SMCI Options History — February 2025

In February 2025, SMCI traded between $27.12 and $59.83. ATM implied volatility averaged 132.5%, placing in the 46.6% IV rank vs the trailing year. The 30-day expected move averaged 37.9%. IV traded above realized volatility by 22.4% (HV 20d: 110.1%). Max pain ranged from $32.00 to $45.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 0.62.

Notable Days

  • 2025-02-19: Highest Volume — 2,645,835 contracts
  • 2025-02-26: Largest IV drop — 31.0% change
  • 2025-02-25: Highest IV Rank — 65.1%
  • 2025-02-25: Largest Expected Move — 48.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.69$27.12$59.83$27.12$40.91
Max Pain$39.63$32.00$45.00$33.00$45.00
ATM IV132.5%101.3%161.2%142.8%101.3%
Expected Move37.9%30.0%48.5%41.3%30.0%
HV 20d110.1%80.7%147.1%84.5%147.1%
HV 60d123.3%111.6%131.8%131.2%117.2%
IV Rank46.6%26.4%65.1%53.2%26.4%
IV Percentile88.7%69.0%97.6%94.0%69.0%
Term Structure-6.5%-25.9%0.4%-5.5%0.4%
VWIV136.2%107.6%170.3%147.1%107.6%
Skew 25d0.4%-7.3%12.6%0.9%0.4%
Skew 10d6.5%-8.3%24.5%-1.1%-2.5%
Call IV 25d133.8%103.3%149.9%139.4%103.3%
Put IV 25d134.3%103.7%158.9%140.3%103.7%
Bid-Ask Spread %6.942.3842.382.964.22
Gamma HHI0.050.030.110.030.11
Net GEX23.5M-17.4M47.8M3.5M-17.4M
Net DEX-2.45B-6.09B150.9M150.9M-245.0M
Net VEX-18.0M-23.4M-11.5M-11.5M-17.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.620.351.010.680.77
Total Volume1,001,288.053303,6562,645,835310,786756,204
Total OI3,381,943.3682,738,2194,115,8822,738,2193,733,424

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-02-03$27.12$33.00142.8%41.3%84.5%53.2%147.1%0.9%-5.5%3.5M150.9M-11.5M0.682.96184,545126,2411,528,5061,209,713
2025-02-04$29.14$33.00141.4%41.4%81.8%52.3%146.3%1.9%-4.2%8.2M-136.4M-12.6M0.453.43209,61094,0461,583,6141,242,457
2025-02-05$31.51$32.00141.7%42.4%80.7%52.5%151.0%-0.3%-6.1%18.3M-621.2M-13.7M0.353.71395,527137,6061,649,1281,278,566
2025-02-06$33.53$37.00148.7%37.9%82.4%57.0%134.1%1.7%-7.1%28.8M-1.09B-14.6M0.417.55424,956172,6201,722,6191,322,962
2025-02-07$35.78$37.00143.6%38.6%83.1%53.8%140.0%2.5%-7.6%29.7M-1.57B-15.8M0.466.20480,100219,0891,744,0891,379,125
2025-02-10$42.23$37.00150.0%40.5%100.9%57.9%144.8%0.2%-6.4%22.3M-2.61B-17.9M0.495.21769,582376,6831,653,6201,331,210
2025-02-11$38.93$38.00146.0%39.2%103.4%55.3%143.6%1.8%-8.2%20.8M-1.86B-17.1M0.616.86530,745325,5801,791,5001,501,796
2025-02-12$39.77$38.00114.1%31.7%103.1%34.7%113.0%2.7%-4.6%32.3M-1.88B-16.3M0.648.82670,860428,2301,913,5131,644,954
2025-02-13$41.83$39.00111.7%31.3%103.9%33.1%110.8%2.2%-3.1%41.3M-2.40B-17.0M0.456.36641,335288,9641,955,3991,689,832
2025-02-14$47.45$39.00112.3%31.5%111.2%33.5%113.2%2.5%-3.6%44.0M-4.28B-18.7M0.556.08940,995515,8982,016,1591,734,123
2025-02-18$55.77$40.00124.5%35.5%120.7%41.4%128.1%-4.0%-4.5%41.7M-5.42B-20.4M0.393.57979,786382,4041,794,0091,508,545
2025-02-19$58.05$40.00142.1%40.7%120.5%52.8%146.9%-7.3%-7.8%45.2M-5.88B-21.9M0.606.051,649,859995,9761,908,9771,629,942
2025-02-20$59.83$42.00136.7%39.6%120.4%49.3%145.1%-3.5%-6.4%47.8M-6.09B-23.4M0.703.12857,916597,8802,074,8061,865,046
2025-02-21$56.31$44.00139.8%40.9%123.8%51.3%149.5%-2.9%-8.3%31.9M-4.92B-22.8M0.762.38673,715509,6642,149,8441,966,038
2025-02-24$52.42$44.00139.1%42.2%128.2%50.8%156.5%0.2%-8.5%20.2M-2.92B-21.8M0.862.97333,910287,7741,626,3191,576,854
2025-02-25$46.23$45.00161.2%48.5%124.9%65.1%170.3%12.6%-25.9%11.2M-1.70B-20.0M1.0142.38467,400470,5311,696,4761,637,406
2025-02-26$50.78$45.00111.2%33.0%126.3%32.8%119.6%-4.6%-3.9%25.3M-2.62B-20.4M0.856.01644,853545,4301,782,3041,732,472
2025-02-27$42.57$45.00110.1%33.3%145.5%32.1%120.5%1.5%-2.9%-9.4M-471.7M-18.0M0.784.02527,385410,5741,846,7091,834,868
2025-02-28$40.91$45.00101.3%30.0%147.1%26.4%107.6%0.4%0.4%-17.4M-245.0M-17.1M0.774.22428,389327,8151,923,1541,810,270