TEX Options History — January 2025

In January 2025, TEX traded between $44.04 and $48.86. ATM implied volatility averaged 40.4%, placing in the 34.3% IV rank vs the trailing year. The 30-day expected move averaged 11.7%. IV traded above realized volatility by 10.8% (HV 20d: 29.6%). Max pain ranged from $45.00 to $47.00. Net GEX was positive for 9 of 20 trading days. Term structure was in contango for 2 of 20 days. Put/call ratio averaged 1.34.

Notable Days

  • 2025-01-21: Highest Volume — 1,433 contracts
  • 2025-01-13: Largest IV spike — 17.1% change
  • 2025-01-30: Highest IV Rank — 59.7%
  • 2025-01-30: Largest Expected Move — 14.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$46.82$44.04$48.86$44.40$47.90
Max Pain$45.60$45.00$47.00$47.00$46.00
ATM IV40.4%32.5%49.8%36.2%47.9%
Expected Move11.7%9.3%14.3%10.4%13.7%
HV 20d29.6%27.8%32.5%28.8%31.5%
HV 60d40.1%38.6%40.8%40.8%39.3%
IV Rank34.3%13.1%59.7%23.1%54.7%
IV Percentile67.2%23.4%95.2%48.0%91.7%
Term Structure-2.6%-7.6%5.0%3.8%-6.6%
VWIV40.6%28.2%48.6%35.5%48.6%
Skew 25d3.4%1.0%11.6%1.6%2.9%
Skew 10d9.2%-0.5%23.0%3.5%10.4%
Call IV 25d39.2%32.0%47.8%35.3%46.4%
Put IV 25d42.6%34.4%49.3%36.9%49.3%
Bid-Ask Spread %42.2431.1850.8433.5245.89
Gamma HHI0.290.100.590.560.10
Net GEX-310.1K-1.1M261.6K-807.3K391
Net DEX993.1K-2.2M7.2M6.5M-1.1M
Net VEX-38.5K-43.7K-32.0K-43.7K-41.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.340.185.061.641.70
Total Volume253.95541,43313254
Total OI7,964.34,2239,9619,5296,220

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-01-02$44.40$47.0036.2%10.4%28.8%23.1%35.5%1.6%3.8%-807.3K6.5M-43.7K1.6433.52N/AN/A50823,4426,087
2025-01-03$45.54$47.0032.5%9.3%31.3%13.1%32.8%2.3%5.0%-672.5K3.9M-42.4K0.6937.66N/AN/A1621123,4646,128
2025-01-06$45.17$45.0035.7%11.3%29.5%21.8%37.9%3.9%-1.5%-749.9K4.4M-41.1K1.2338.64N/AN/A1071323,5576,225
2025-01-07$45.51$45.0035.9%11.4%30.0%22.2%39.7%3.1%-1.5%-701.4K3.5M-40.3K0.8638.08N/AN/A29253,6306,255
2025-01-08$44.96$45.0035.4%11.5%29.9%20.9%40.5%2.9%-7.6%-840.9K4.7M-40.0K1.2231.18N/AN/A59723,6466,267
2025-01-10$44.04$45.0037.4%11.8%28.6%26.4%41.0%2.3%-1.9%-1.1M7.2M-39.0K5.0635.34N/AN/A18913,6426,260
2025-01-13$44.56$45.0043.8%11.8%29.4%43.6%28.2%11.6%-1.9%-1.0M5.1M-36.9K0.5445.11N/AN/A92503,6506,270
2025-01-14$45.63$45.0042.6%11.8%31.2%40.3%42.6%3.9%-2.7%-633.5K1.5M-34.8K0.1838.58N/AN/A223403,7196,242
2025-01-15$47.05$45.0039.7%11.4%32.5%32.6%40.0%3.6%-2.5%-41.1K-1.2M-32.9K1.3338.26N/AN/A30403,6296,263
2025-01-16$47.38$45.0038.9%11.1%30.7%30.3%38.9%3.7%-1.4%76.2K-1.8M-32.4K0.7840.22N/AN/A46363,6436,269
2025-01-17$47.14$45.0038.4%11.0%30.1%29.0%39.0%3.2%-1.4%261.6K-1.7M-32.1K1.9344.25N/AN/A761473,6766,228
2025-01-21$48.72$45.0038.9%11.1%27.8%30.3%38.7%3.6%-2.1%24.7K-1.8M-32.0K1.3942.36N/AN/A5998342,2162,007
2025-01-22$48.48$45.0040.0%11.5%27.9%33.4%40.8%2.7%-2.6%9.1K-1.5M-39.6K0.9250.84N/AN/A2061892,7362,716
2025-01-23$48.66$46.0039.7%11.4%27.9%32.6%40.6%2.8%-1.5%8.9K-1.6M-40.5K0.3149.33N/AN/A114352,8192,860
2025-01-24$48.84$46.0040.4%11.6%27.9%34.4%42.9%2.5%-3.0%16.2K-1.8M-40.5K2.4248.04N/AN/A551332,8692,870
2025-01-27$48.77$46.0043.8%12.5%27.9%43.5%45.4%3.7%-5.2%12.4K-1.7M-40.3K3.0849.15N/AN/A381172,8942,909
2025-01-28$47.34$47.0043.8%12.6%29.9%43.5%43.2%3.9%-4.7%-31.5K-110.1K-39.7K0.5743.71N/AN/A2471422,8722,969
2025-01-29$47.42$46.0046.5%13.3%29.0%50.9%46.9%3.8%-5.7%-18.2K-312.2K-40.2K0.5846.63N/AN/A2231302,9333,029
2025-01-30$48.86$46.0049.8%14.3%30.6%59.7%47.9%1.0%-6.5%29.3K-2.2M-41.4K0.4348.00N/AN/A171733,0713,104
2025-01-31$47.90$46.0047.9%13.7%31.5%54.7%48.6%2.9%-6.6%391-1.1M-41.0K1.7045.89N/AN/A20343,0843,136