SNAP Options History — January 2025

In January 2025, SNAP traded between $10.54 and $12.48. ATM implied volatility averaged 94.1%, placing in the 70.9% IV rank vs the trailing year. The 30-day expected move averaged 26.6%. IV traded above realized volatility by 41.5% (HV 20d: 52.7%). Max pain ranged from $11.00 to $11.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 0.47.

Notable Days

2025-01-10: Highest Volume — 291,027 contracts
2025-01-07: Largest IV spike — 11.8% change
2025-01-08: Highest IV Rank — 88.2%
2025-01-29: Largest Expected Move — 32.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$11.44	$10.54	$12.48	$11.19	$11.36
Max Pain	$11.00	$11.00	$11.00	$11.00	$11.00
ATM IV	94.1%	71.6%	107.5%	71.6%	99.1%
Expected Move	26.6%	19.4%	32.8%	19.4%	32.8%
HV 20d	52.7%	37.3%	60.3%	37.3%	60.3%
HV 60d	57.3%	51.4%	60.2%	54.3%	51.4%
IV Rank	70.9%	41.8%	88.2%	41.8%	77.3%
IV Percentile	79.9%	59.5%	98.0%	59.5%	87.3%
Term Structure	-4.9%	-10.3%	14.3%	11.3%	-8.2%
VWIV	93.2%	70.0%	114.1%	70.0%	112.5%
Skew 25d	-2.7%	-5.9%	12.8%	-1.8%	-1.3%
Skew 10d	-5.9%	-12.1%	9.3%	-5.1%	-2.0%
Call IV 25d	95.4%	71.0%	108.8%	71.0%	100.2%
Put IV 25d	92.7%	69.3%	109.8%	69.3%	98.9%
Bid-Ask Spread %	11.08	2.45	21.77	2.45	3.71
Gamma HHI	0.09	0.07	0.19	0.08	0.08
Net GEX	5.7M	443.2K	14.9M	4.1M	2.9M
Net DEX	-157.3M	-369.9M	-21.1M	-106.4M	-107.1M
Net VEX	-1.9M	-2.2M	-1.6M	-1.8M	-1.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.47	0.25	1.03	0.30	0.59
Total Volume	117,554.85	45,173	291,027	45,173	93,908
Total OI	1,407,265.55	1,091,869	1,727,578	1,417,476	1,205,822

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	$11.19	$11.00	71.6%	19.4%	37.3%	41.8%	70.0%	-1.8%	11.3%	4.1M	-106.4M	-1.8M	0.30	2.45	34,647	10,526	971,934	445,542
2025-01-03	$11.87	$11.00	79.0%	20.7%	43.9%	51.4%	74.4%	-2.4%	14.3%	6.9M	-222.6M	-2.0M	0.44	2.76	89,504	39,531	987,272	450,284
2025-01-06	$12.48	$11.00	88.1%	24.4%	45.0%	63.1%	86.2%	-3.9%	-3.8%	10.2M	-321.9M	-2.1M	0.56	3.48	50,498	28,308	1,004,272	435,886
2025-01-07	$12.46	$11.00	98.5%	25.6%	43.6%	76.5%	90.0%	-2.0%	-6.3%	9.7M	-328.6M	-2.1M	0.35	15.95	94,452	32,786	1,014,191	446,692
2025-01-08	$12.02	$11.00	107.5%	26.9%	45.4%	88.2%	93.0%	12.8%	-6.7%	8.1M	-271.7M	-2.1M	0.25	18.47	157,421	38,894	1,076,067	469,710
2025-01-10	$12.39	$11.00	104.6%	26.3%	45.8%	84.4%	92.8%	-3.9%	-9.1%	14.9M	-369.9M	-2.2M	0.25	20.77	233,062	57,965	1,164,172	483,906
2025-01-13	$12.09	$11.00	103.3%	26.6%	46.6%	82.8%	92.9%	-5.1%	-7.7%	9.8M	-282.6M	-2.1M	0.45	21.22	50,978	22,955	1,143,994	469,902
2025-01-14	$11.32	$11.00	97.6%	25.5%	49.6%	75.4%	90.5%	-3.4%	-7.3%	6.6M	-125.0M	-1.9M	0.28	21.77	131,244	36,968	1,157,024	479,223
2025-01-15	$11.98	$11.00	101.5%	26.9%	53.2%	80.4%	95.6%	-3.7%	-8.4%	11.1M	-273.5M	-2.1M	0.28	21.67	130,832	36,624	1,188,509	479,180
2025-01-16	$11.34	$11.00	98.5%	26.2%	57.0%	76.5%	93.0%	-5.3%	-8.8%	7.9M	-147.7M	-1.9M	1.03	15.81	51,726	53,537	1,223,780	481,462
2025-01-17	$10.93	$11.00	96.6%	26.2%	58.3%	74.1%	91.9%	-3.8%	-8.3%	3.1M	-33.7M	-1.7M	0.55	17.71	153,572	83,709	1,234,275	493,303
2025-01-21	$10.61	$11.00	87.8%	24.8%	59.1%	62.7%	87.5%	-4.2%	-3.1%	1.8M	-27.4M	-1.6M	0.42	8.45	80,342	34,123	881,985	347,611
2025-01-22	$10.54	$11.00	90.8%	26.0%	58.5%	66.6%	91.6%	-4.9%	-5.2%	1.2M	-27.3M	-1.6M	0.63	3.15	43,817	27,633	918,170	362,762
2025-01-23	$10.55	$11.00	89.6%	26.0%	57.8%	65.0%	91.4%	-5.9%	-6.1%	443.2K	-21.1M	-1.6M	0.36	3.62	34,403	12,256	931,893	379,667
2025-01-24	$10.75	$11.00	89.0%	26.3%	57.2%	64.3%	93.3%	-5.8%	-10.3%	2.3M	-49.2M	-1.7M	0.46	8.06	46,031	21,246	942,440	381,042
2025-01-27	$10.86	$11.00	90.0%	27.8%	57.3%	65.5%	96.7%	-2.5%	-5.4%	2.6M	-71.7M	-1.7M	0.26	6.48	50,502	13,161	746,763	345,106
2025-01-28	$11.13	$11.00	93.3%	29.4%	57.9%	69.9%	102.0%	-2.8%	-6.2%	3.4M	-99.8M	-1.8M	0.49	7.34	30,417	15,003	756,622	350,870
2025-01-29	$11.66	$11.00	101.7%	32.8%	59.1%	80.7%	114.1%	-2.1%	-8.0%	4.7M	-162.4M	-1.9M	0.97	10.11	69,131	66,939	765,473	359,583
2025-01-30	$11.27	$11.00	94.2%	30.6%	60.3%	71.1%	105.2%	-2.4%	-5.3%	1.7M	-97.4M	-1.8M	0.38	8.63	66,888	25,558	777,052	391,870
2025-01-31	$11.36	$11.00	99.1%	32.8%	60.3%	77.3%	112.5%	-1.3%	-8.2%	2.9M	-107.1M	-1.8M	0.59	3.71	59,125	34,783	807,368	398,454