TEX Options History — February 2025

In February 2025, TEX traded between $40.42 and $47.77. ATM implied volatility averaged 41.4%, placing in the 37.0% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded above realized volatility by 2.3% (HV 20d: 39.0%). Max pain ranged from $46.00 to $48.00. Net GEX was positive for 3 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 2.77.

Notable Days

  • 2025-02-05: Highest Volume — 2,599 contracts
  • 2025-02-06: Largest IV drop — 31.2% change
  • 2025-02-05: Highest IV Rank — 66.8%
  • 2025-02-05: Largest Expected Move — 15.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$44.71$40.42$47.77$45.99$40.42
Max Pain$46.79$46.00$48.00$47.00$46.00
ATM IV41.4%36.1%52.4%50.9%45.1%
Expected Move11.9%10.4%15.0%14.6%12.9%
HV 20d39.0%32.5%45.1%32.5%43.2%
HV 60d35.3%33.2%40.5%40.1%35.2%
IV Rank37.0%22.7%66.8%62.7%46.9%
IV Percentile71.6%48.0%97.6%96.4%85.3%
Term Structure-1.6%-9.6%1.4%-7.5%-4.8%
VWIV41.6%34.7%53.6%51.6%44.0%
Skew 25d3.7%-1.6%10.5%4.4%3.3%
Skew 10d10.1%-13.9%27.3%9.5%13.4%
Call IV 25d39.7%30.2%51.2%49.3%41.6%
Put IV 25d43.4%33.4%59.6%53.8%44.8%
Bid-Ask Spread %42.5629.3156.0835.1149.67
Gamma HHI0.180.100.490.100.11
Net GEX-183.8K-490.6K67.0K-49.0K-193.4K
Net DEX3.1M-2.0M7.2M1.0M7.0M
Net VEX-37.5K-43.7K-30.6K-39.0K-40.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.770.1812.382.151.20
Total Volume459.789792,599151165
Total OI7,121.7895,6817,9296,2517,264

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$45.99$47.0050.9%14.6%32.5%62.7%51.6%4.4%-7.5%-49.0K1.0M-39.0K2.1535.11N/AN/A481033,0993,152
2025-02-04$47.48$46.0050.1%14.4%33.2%60.5%49.8%3.7%-7.2%-9.5K-608.3K-38.8K0.2244.32N/AN/A68153,0763,109
2025-02-05$47.77$46.0052.4%15.0%33.0%66.8%53.6%8.4%-9.6%3.6K-1.1M-39.0K5.7946.60N/AN/A3832,2163,1203,115
2025-02-06$46.33$48.0036.1%10.4%35.0%22.7%34.7%-1.6%0.4%-297.9K2.9M-40.2K3.2949.19N/AN/A993263,3524,165
2025-02-07$44.61$48.0037.3%10.8%37.4%25.9%38.6%3.3%0.2%-364.9K6.3M-38.7K12.3845.52N/AN/A728913,3554,323
2025-02-10$44.38$47.0038.3%10.8%36.7%28.7%38.6%3.6%1.4%-260.3K4.3M-35.5K2.6246.90N/AN/A421103,4063,645
2025-02-11$45.63$47.0036.9%10.7%37.7%24.9%36.2%3.3%0.6%-209.7K2.5M-36.7K0.2739.54N/AN/A89243,4323,710
2025-02-12$44.59$47.0038.0%10.9%37.7%28.1%38.4%3.0%0.4%-267.9K4.0M-35.4K0.8934.51N/AN/A90803,4743,709
2025-02-13$44.75$47.0039.0%11.2%35.8%30.6%39.8%3.0%-0.2%-283.7K3.6M-35.6K0.8635.73N/AN/A2191883,5783,729
2025-02-14$45.39$47.0037.8%10.8%36.2%27.5%37.7%3.1%0.1%-266.9K2.4M-37.1K0.1841.78N/AN/A148263,7253,861
2025-02-18$47.72$47.0038.3%11.0%40.6%28.6%40.2%10.5%-0.3%67.0K-2.0M-35.8K0.3744.42N/AN/A147543,7893,871
2025-02-19$47.25$47.0038.3%11.0%38.9%28.8%39.1%1.9%0.7%17.2K-1.4M-35.4K1.9044.07N/AN/A601143,8513,884
2025-02-20$45.57$47.0038.4%11.0%40.8%29.0%39.5%3.6%-0.2%-490.6K1.9M-34.4K7.8956.08N/AN/A383003,8623,951
2025-02-21$43.34$47.0040.9%11.7%44.0%35.8%41.1%3.8%-0.8%-153.6K7.2M-31.8K5.1349.87N/AN/A1135803,8874,042
2025-02-24$42.03$47.0039.8%11.4%44.7%32.7%39.9%3.0%0.9%-165.4K4.6M-30.6K5.6439.91N/AN/A1921,0822,6803,001
2025-02-25$42.42$46.0043.4%12.5%45.0%42.6%43.4%3.5%-2.0%-189.0K5.3M-42.5K0.6129.31N/AN/A2091272,7854,044
2025-02-26$42.57$46.0040.7%11.7%44.3%35.2%40.5%4.5%-0.2%-189.5K5.1M-43.7K0.2742.19N/AN/A188512,9424,111
2025-02-27$41.30$46.0044.4%12.7%45.1%45.2%43.8%2.8%-2.5%-188.2K6.2M-42.3K0.9333.98N/AN/A41383,0794,136
2025-02-28$40.42$46.0045.1%12.9%43.2%46.9%44.0%3.3%-4.8%-193.4K7.0M-40.5K1.2049.67N/AN/A75903,1104,154