SNOW Options History — January 2025

In January 2025, SNOW traded between $156.74 and $187.25. ATM implied volatility averaged 45.1%, placing in the 23.5% IV rank vs the trailing year. The 30-day expected move averaged 11.4%. IV traded above realized volatility by 8.8% (HV 20d: 36.2%). Max pain ranged from $150.00 to $160.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.40.

Notable Days

2025-01-28: Highest Volume — 127,091 contracts
2025-01-27: Largest IV spike — 35.4% change
2025-01-30: Highest IV Rank — 62.1%
2025-01-29: Largest Expected Move — 12.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$169.84	$156.74	$187.25	$156.74	$181.44
Max Pain	$153.50	$150.00	$160.00	$150.00	$160.00
ATM IV	45.1%	36.5%	63.0%	39.2%	62.8%
Expected Move	11.4%	10.4%	12.6%	11.0%	11.9%
HV 20d	36.2%	28.9%	44.4%	44.4%	34.9%
HV 60d	67.3%	66.5%	68.0%	67.6%	67.9%
IV Rank	23.5%	5.0%	62.1%	10.9%	61.7%
IV Percentile	42.3%	6.3%	86.9%	28.2%	85.7%
Term Structure	1.8%	-3.4%	14.1%	0.3%	-3.0%
VWIV	40.1%	36.6%	44.3%	38.8%	41.6%
Skew 25d	0.6%	-0.8%	1.6%	0.9%	0.5%
Skew 10d	1.1%	-1.2%	3.8%	3.8%	1.9%
Call IV 25d	45.0%	35.9%	64.2%	39.2%	64.2%
Put IV 25d	45.6%	37.0%	64.7%	40.1%	64.7%
Bid-Ask Spread %	37.26	17.55	50.64	17.55	34.02
Gamma HHI	0.08	0.06	0.14	0.06	0.14
Net GEX	50.1M	22.5M	90.5M	22.5M	90.5M
Net DEX	-1.65B	-2.60B	-942.7M	-942.7M	-2.18B
Net VEX	-11.8M	-12.5M	-11.4M	-11.6M	-12.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.23	0.92	0.61	0.39
Total Volume	55,261.4	30,613	127,091	38,022	56,577
Total OI	543,006.75	447,189	609,094	584,523	533,938

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-01-02	$156.74	$150.00	39.2%	11.0%	44.4%	10.9%	38.8%	0.9%	0.3%	22.5M	-942.7M	-11.6M	0.61	17.55	N/A	N/A	23,634	14,388	342,519	242,004
2025-01-03	$161.84	$150.00	38.4%	10.6%	40.7%	9.3%	37.4%	0.7%	1.0%	46.9M	-1.38B	-11.8M	0.35	17.59	N/A	N/A	32,175	11,316	348,082	243,886
2025-01-06	$163.10	$150.00	39.6%	11.4%	41.0%	11.8%	40.4%	0.7%	1.1%	46.6M	-1.44B	-11.7M	0.23	18.85	N/A	N/A	38,056	8,895	332,531	233,376
2025-01-07	$157.47	$150.00	40.9%	11.7%	42.0%	14.6%	41.1%	-0.2%	0.4%	26.4M	-995.9M	-11.4M	0.33	35.99	N/A	N/A	38,189	12,731	337,474	236,199
2025-01-08	$161.14	$150.00	40.3%	11.6%	43.1%	13.3%	41.4%	-0.8%	-0.1%	38.6M	-1.27B	-11.7M	0.92	37.03	N/A	N/A	20,185	18,483	345,976	238,752
2025-01-10	$161.86	$150.00	41.8%	11.8%	38.1%	16.5%	41.4%	-0.4%	-0.1%	36.0M	-1.30B	-11.7M	0.35	42.94	N/A	N/A	47,265	16,464	348,903	246,624
2025-01-13	$161.13	$150.00	43.0%	12.0%	37.4%	19.1%	42.0%	0.6%	-0.7%	32.8M	-1.24B	-11.5M	0.59	46.86	N/A	N/A	19,200	11,413	336,558	243,616
2025-01-14	$163.38	$150.00	40.9%	11.6%	37.6%	14.5%	40.8%	0.6%	0.3%	41.1M	-1.41B	-11.5M	0.34	49.24	N/A	N/A	46,032	15,556	340,842	249,118
2025-01-15	$166.68	$150.00	39.4%	11.1%	37.9%	11.2%	38.4%	1.3%	-0.6%	53.9M	-1.65B	-11.5M	0.32	50.64	N/A	N/A	27,865	8,867	346,989	249,423
2025-01-16	$168.52	$150.00	38.6%	10.8%	36.6%	9.5%	37.8%	1.0%	-1.7%	64.5M	-1.80B	-11.5M	0.27	46.58	N/A	N/A	36,775	10,036	352,726	250,639
2025-01-17	$171.43	$150.00	37.4%	10.6%	37.2%	7.0%	37.1%	1.4%	-1.1%	54.3M	-2.11B	-11.4M	0.40	47.00	N/A	N/A	58,159	23,081	355,984	253,110
2025-01-21	$173.57	$150.00	36.5%	10.4%	29.7%	5.0%	36.6%	1.1%	10.6%	53.1M	-1.67B	-11.5M	0.38	35.22	N/A	N/A	32,491	12,275	254,029	193,160
2025-01-22	$176.26	$155.00	37.8%	10.8%	29.6%	8.0%	38.0%	0.8%	14.1%	62.4M	-1.87B	-11.8M	0.25	38.31	N/A	N/A	52,591	13,090	261,690	197,692
2025-01-23	$174.28	$155.00	39.8%	10.6%	30.1%	12.1%	37.7%	0.9%	13.2%	62.0M	-1.71B	-11.8M	0.47	37.96	N/A	N/A	27,333	12,780	273,962	204,385
2025-01-24	$173.28	$160.00	42.0%	10.7%	28.9%	16.9%	38.1%	1.0%	12.8%	40.0M	-1.58B	-11.9M	0.39	38.54	N/A	N/A	29,102	11,345	273,946	209,670
2025-01-27	$175.12	$160.00	56.9%	12.2%	29.0%	48.8%	43.6%	1.6%	-1.9%	43.9M	-1.70B	-11.9M	0.40	39.86	N/A	N/A	57,009	22,704	264,278	205,764
2025-01-28	$187.25	$160.00	60.4%	12.5%	36.7%	56.4%	44.3%	-0.7%	-2.5%	63.9M	-2.60B	-12.1M	0.25	34.11	N/A	N/A	101,779	25,312	272,362	208,826
2025-01-29	$183.26	$160.00	62.8%	12.6%	34.9%	61.7%	44.0%	-0.0%	-3.1%	65.7M	-2.28B	-12.5M	0.47	40.77	N/A	N/A	34,249	16,026	294,258	216,229
2025-01-30	$178.97	$160.00	63.0%	12.0%	35.0%	62.1%	42.4%	0.7%	-3.4%	57.7M	-1.92B	-12.4M	0.27	36.10	N/A	N/A	48,745	13,055	301,530	219,085
2025-01-31	$181.44	$160.00	62.8%	11.9%	34.9%	61.7%	41.6%	0.5%	-3.0%	90.5M	-2.18B	-12.5M	0.39	34.02	N/A	N/A	40,698	15,879	312,900	221,038