SNAP Options History — February 2025

In February 2025, SNAP traded between $10.04 and $11.54. ATM implied volatility averaged 54.9%, placing in the 20.3% IV rank vs the trailing year. The 30-day expected move averaged 16.6%. IV traded above realized volatility by 4.0% (HV 20d: 50.9%). Max pain ranged from $11.00 to $11.50. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.56.

Notable Days

2025-02-05: Highest Volume — 345,322 contracts
2025-02-05: Largest IV drop — 46.6% change
2025-02-04: Highest IV Rank — 79.0%
2025-02-04: Largest Expected Move — 35.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$10.71	$10.04	$11.54	$11.14	$10.16
Max Pain	$11.05	$11.00	$11.50	$11.00	$11.00
ATM IV	54.9%	47.0%	100.4%	95.5%	51.0%
Expected Move	16.6%	13.7%	35.3%	33.7%	14.9%
HV 20d	50.9%	41.6%	59.3%	59.3%	41.6%
HV 60d	50.0%	48.1%	53.0%	50.9%	48.3%
IV Rank	20.3%	10.1%	79.0%	72.7%	15.2%
IV Percentile	35.0%	19.4%	89.3%	80.2%	32.5%
Term Structure	-0.5%	-7.1%	1.9%	-7.1%	1.9%
VWIV	58.7%	48.6%	122.9%	116.0%	52.4%
Skew 25d	-2.4%	-28.5%	1.9%	-1.9%	0.1%
Skew 10d	-2.0%	-5.6%	3.6%	-3.3%	3.6%
Call IV 25d	55.8%	48.5%	99.0%	93.4%	51.3%
Put IV 25d	53.4%	47.5%	91.6%	91.6%	51.4%
Bid-Ask Spread %	16.11	2.74	31.66	3.67	24.65
Gamma HHI	0.10	0.07	0.22	0.07	0.10
Net GEX	1.9M	-329.1K	6.6M	2.5M	202.1K
Net DEX	-16.6M	-133.9M	43.3M	-87.8M	30.5M
Net VEX	-1.6M	-1.9M	-1.5M	-1.8M	-1.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.56	0.26	1.32	0.65	0.82
Total Volume	88,600.789	31,092	345,322	88,693	34,344
Total OI	1,178,506.789	1,032,713	1,386,455	1,076,814	1,094,418

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	$11.14	$11.00	95.5%	33.7%	59.3%	72.7%	116.0%	-1.9%	-7.1%	2.5M	-87.8M	-1.8M	0.65	3.67	53,805	34,888	697,191	379,623
2025-02-04	$11.54	$11.50	100.4%	35.3%	56.7%	79.0%	122.9%	-28.5%	-7.1%	3.2M	-133.9M	-1.9M	0.70	3.04	200,531	140,263	732,053	401,523
2025-02-05	$10.70	$11.50	53.6%	16.3%	59.0%	18.6%	58.4%	-1.3%	-0.3%	-329.1K	13.7M	-1.5M	0.55	2.86	222,208	123,114	828,434	481,232
2025-02-06	$10.66	$11.00	51.3%	14.8%	59.0%	15.6%	52.6%	-0.9%	0.1%	827.7K	9.4M	-1.6M	0.35	2.74	67,274	23,335	885,364	490,471
2025-02-07	$10.96	$11.00	51.2%	14.7%	59.3%	15.6%	52.4%	-0.8%	0.3%	6.6M	-41.5M	-1.7M	0.43	8.88	68,836	29,779	898,805	487,650
2025-02-10	$10.79	$11.00	49.6%	14.3%	57.9%	13.5%	51.0%	-1.8%	-0.3%	2.0M	-22.9M	-1.6M	0.37	15.82	48,764	18,258	751,225	392,158
2025-02-11	$10.84	$11.00	48.1%	14.0%	57.7%	11.5%	50.0%	0.1%	0.3%	1.8M	-25.5M	-1.6M	0.39	14.97	35,592	14,014	762,676	402,534
2025-02-12	$10.71	$11.00	47.0%	13.7%	53.2%	10.1%	48.6%	-2.0%	0.2%	1.8M	-16.2M	-1.6M	0.43	15.35	21,888	9,479	775,142	404,609
2025-02-13	$11.14	$11.00	49.5%	14.6%	50.9%	13.2%	51.5%	-1.1%	1.9%	4.0M	-72.7M	-1.7M	0.26	9.88	101,189	26,019	780,412	407,693
2025-02-14	$10.89	$11.00	48.2%	14.1%	47.8%	11.6%	49.8%	-1.9%	1.6%	3.5M	-34.4M	-1.6M	0.47	15.21	42,161	19,677	820,615	421,878
2025-02-18	$10.96	$11.00	49.0%	14.0%	46.1%	12.6%	50.3%	-0.3%	-0.6%	3.7M	-47.1M	-1.7M	1.32	24.87	27,052	35,821	785,424	409,032
2025-02-19	$10.80	$11.00	49.1%	14.1%	45.1%	12.7%	49.7%	-2.1%	-1.3%	2.9M	-16.1M	-1.6M	0.66	21.40	20,766	13,724	792,040	422,390
2025-02-20	$10.66	$11.00	48.4%	13.9%	45.3%	11.8%	49.2%	-2.3%	-1.5%	1.8M	8.1M	-1.6M	0.38	9.56	22,580	8,512	797,467	428,550
2025-02-21	$10.34	$11.00	49.4%	14.2%	46.6%	13.2%	52.3%	-2.3%	-0.8%	539.5K	43.3M	-1.5M	0.55	27.14	31,312	17,130	800,354	427,345
2025-02-24	$10.48	$11.00	48.8%	14.1%	46.3%	12.4%	50.0%	0.0%	1.1%	480.7K	7.9M	-1.5M	0.33	31.66	36,210	11,810	658,405	374,308
2025-02-25	$10.50	$11.00	50.4%	14.8%	46.2%	14.5%	51.9%	0.5%	0.3%	949.9K	2.4M	-1.5M	0.43	27.09	25,181	10,803	674,001	378,127
2025-02-26	$10.16	$11.00	50.3%	14.7%	46.3%	14.3%	52.4%	1.9%	1.7%	225.4K	28.4M	-1.5M	0.51	23.79	31,957	16,444	681,490	382,165
2025-02-27	$10.04	$11.00	52.4%	15.4%	42.3%	17.0%	54.3%	-0.8%	0.5%	-43.6K	38.2M	-1.5M	0.95	23.45	19,825	18,870	696,477	388,348
2025-02-28	$10.16	$11.00	51.0%	14.9%	41.6%	15.2%	52.4%	0.1%	1.9%	202.1K	30.5M	-1.5M	0.82	24.65	18,903	15,441	702,347	392,071