TEX Options History — April 2025

In April 2025, TEX traded between $31.79 and $40.23. ATM implied volatility averaged 64.4%, placing in the 55.2% IV rank vs the trailing year. The 30-day expected move averaged 17.6%. IV traded below realized volatility by 14.6% (HV 20d: 79.0%). Max pain ranged from $36.00 to $40.00. Net GEX was positive for 7 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 3.53.

Notable Days

  • 2025-04-02: Highest Volume — 1,295 contracts
  • 2025-04-04: Largest IV spike — 39.2% change
  • 2025-04-04: Highest IV Rank — 100.0%
  • 2025-04-08: Largest Expected Move — 22.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.12$31.79$40.23$37.94$35.13
Max Pain$37.86$36.00$40.00$40.00$36.00
ATM IV64.4%46.4%102.1%46.4%50.3%
Expected Move17.6%13.1%22.0%13.1%14.4%
HV 20d79.0%34.8%92.4%34.8%91.3%
HV 60d56.2%37.9%62.2%37.9%61.3%
IV Rank55.2%30.5%100.0%50.6%30.5%
IV Percentile95.8%85.7%100.0%85.7%86.5%
Term Structure-9.8%-17.9%3.7%-0.7%-8.0%
VWIV58.8%38.6%76.0%45.0%64.1%
Skew 25d18.7%6.1%39.2%6.1%10.4%
Skew 10d25.5%-14.4%53.1%10.7%4.1%
Call IV 25d49.3%30.8%66.2%43.0%55.0%
Put IV 25d68.0%49.0%83.3%49.0%65.4%
Bid-Ask Spread %51.3323.5372.9723.5362.15
Gamma HHI0.210.100.290.130.25
Net GEX-14.0K-124.9K52.5K-124.9K29.1K
Net DEX5.2M3.1M7.1M6.3M4.4M
Net VEX-39.9K-44.7K-35.4K-39.8K-37.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.530.0544.110.8844.11
Total Volume220.905161,295231812
Total OI8,463.5717,3059,3597,7757,808

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$37.94$40.0046.4%13.1%34.8%50.6%45.0%6.1%-0.7%-124.9K6.3M-39.8K0.8823.53N/AN/A1231083,2864,489
2025-04-02$40.23$40.0047.5%13.7%40.2%53.5%48.7%8.3%-5.7%-84.8K3.8M-43.3K0.0525.78N/AN/A1,229663,4124,458
2025-04-03$35.56$39.0057.9%15.7%57.5%81.5%53.1%8.4%-6.0%-12.4K5.5M-43.8K0.2724.64N/AN/A172464,6984,483
2025-04-04$34.41$39.0080.5%20.4%57.9%100.0%64.8%39.2%-13.4%-24.5K5.7M-43.3K1.2251.40N/AN/A27334,6564,378
2025-04-07$32.48$39.00102.1%20.8%60.4%100.0%66.1%14.2%-16.8%-37.4K6.8M-37.8K1.2651.92N/AN/A38484,6684,393
2025-04-08$31.79$39.0096.2%22.0%60.3%92.1%76.0%16.8%-17.9%-37.7K7.1M-35.7K0.8542.19N/AN/A1401194,6814,367
2025-04-09$36.86$39.0060.2%17.3%82.8%43.7%63.8%14.2%-10.1%-8.7K4.2M-44.7K0.4347.71N/AN/A72314,6844,415
2025-04-10$33.56$39.0074.4%21.3%88.7%62.8%73.1%22.0%-17.6%-29.5K6.0M-39.9K12.5860.75N/AN/A121514,7064,422
2025-04-11$34.92$39.0064.4%18.5%89.4%49.3%62.6%14.5%-9.6%-26.0K5.4M-43.2K0.4737.12N/AN/A157734,7124,450
2025-04-14$35.51$38.0060.9%17.5%89.6%44.6%60.1%11.3%-8.4%-20.1K5.4M-41.0K1.0560.80N/AN/A38404,8274,477
2025-04-15$34.66$38.0059.0%16.9%89.7%42.1%53.7%29.9%-7.2%-31.7K6.2M-39.1K1.1661.03N/AN/A58674,8334,470
2025-04-16$33.80$38.0062.5%17.9%89.9%46.9%55.5%14.9%-7.0%-41.5K6.8M-35.4K0.9459.13N/AN/A88834,8744,458
2025-04-17$34.53$38.0061.3%17.6%90.4%45.2%59.2%32.0%-17.1%1.1K6.1M-37.8K3.6972.97N/AN/A291074,9104,449
2025-04-21$33.52$38.0064.5%18.5%90.8%49.5%60.4%31.4%-10.4%-23.7K5.3M-35.7K0.1861.79N/AN/A182333,3773,928
2025-04-22$34.19$36.0062.0%17.8%89.1%46.1%58.1%10.9%-8.3%-9.2K5.0M-37.3K0.2645.13N/AN/A93243,5173,949
2025-04-23$34.52$36.0060.2%17.3%89.4%43.7%59.0%10.5%-8.1%4.8K4.6M-38.6K0.1644.98N/AN/A110183,5873,970
2025-04-24$36.55$36.0057.5%16.5%92.3%40.1%55.7%11.1%3.7%52.5K3.1M-41.9K0.1956.61N/AN/A85163,6683,981
2025-04-25$35.84$36.0057.4%16.5%92.4%40.0%38.6%17.7%-7.3%46.1K3.7M-40.8K0.5658.07N/AN/A43243,7353,987
2025-04-28$35.66$36.0064.5%18.5%91.2%49.5%64.0%35.7%-16.4%37.8K3.5M-40.2K3.0068.45N/AN/A7213,7773,998
2025-04-29$35.79$36.0063.0%18.1%91.2%47.5%52.3%33.5%-14.6%47.0K3.6M-39.9K0.7861.84N/AN/A973,7804,017
2025-04-30$35.13$36.0050.3%14.4%91.3%30.5%64.1%10.4%-8.0%29.1K4.4M-37.8K44.1162.15N/AN/A187943,7864,022