TEX Options History — July 2025

In July 2025, TEX traded between $48.33 and $53.98. ATM implied volatility averaged 44.5%, placing in the 21.6% IV rank vs the trailing year. The 30-day expected move averaged 13.1%. IV traded above realized volatility by 4.0% (HV 20d: 40.5%). Max pain ranged from $45.00 to $50.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.45.

Notable Days

  • 2025-07-28: Highest Volume — 2,328 contracts
  • 2025-07-28: Largest IV spike — 25.9% change
  • 2025-07-28: Highest IV Rank — 43.7%
  • 2025-07-28: Largest Expected Move — 17.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$50.60$48.33$53.98$48.83$51.11
Max Pain$48.64$45.00$50.00$45.00$50.00
ATM IV44.5%32.9%60.8%33.2%41.0%
Expected Move13.1%9.5%17.4%9.5%11.8%
HV 20d40.5%37.9%45.1%39.6%39.3%
HV 60d50.9%44.9%62.0%62.0%45.1%
IV Rank21.6%5.8%43.7%6.2%16.9%
IV Percentile61.5%7.1%94.4%8.3%55.2%
Term Structure-5.3%-17.7%7.5%7.5%-3.0%
VWIV46.4%33.6%59.4%33.6%36.0%
Skew 25d7.4%-0.4%21.4%1.7%21.4%
Skew 10d16.0%4.5%29.2%4.5%21.0%
Call IV 25d41.0%24.6%57.5%34.6%24.6%
Put IV 25d48.4%36.3%57.5%36.3%46.0%
Bid-Ask Spread %53.8633.7686.5759.6186.57
Gamma HHI0.440.260.770.450.34
Net GEX397.6K195.4K1.2M206.8K408.0K
Net DEX-11.0M-19.5M-4.6M-8.2M-7.5M
Net VEX-36.2K-45.9K-21.9K-27.0K-44.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.450.027.340.140.49
Total Volume412.364492,32817858
Total OI8,337.8646,05310,3747,3238,115

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-07-01$48.83$45.0033.2%9.5%39.6%6.2%33.6%1.7%7.5%206.8K-8.2M-27.0K0.1459.61N/AN/A156223,6103,713
2025-07-02$49.80$45.0033.2%9.5%37.9%6.2%39.8%12.3%6.9%252.9K-9.6M-25.9K7.3468.63N/AN/A352573,7233,719
2025-07-03$49.77$47.0032.9%12.4%38.0%5.8%44.4%7.1%-3.8%233.1K-9.5M-27.1K5.3768.65N/AN/A301613,7403,964
2025-07-07$49.17$47.0036.2%12.7%38.4%10.3%46.6%8.6%-6.4%201.2K-8.4M-26.0K2.1247.78N/AN/A42893,7554,054
2025-07-08$50.86$48.0035.9%12.3%39.7%9.9%41.5%3.9%-2.8%247.0K-11.4M-21.9K0.0263.65N/AN/A1,094233,7624,128
2025-07-09$51.17$48.0041.4%11.9%38.6%17.4%39.9%5.0%-3.2%376.0K-14.3M-28.9K0.1556.88N/AN/A604904,7144,136
2025-07-10$53.98$48.0043.1%12.4%42.5%19.7%42.9%6.6%-3.9%387.2K-19.5M-27.1K0.0456.79N/AN/A978364,9974,168
2025-07-11$52.00$48.0044.8%12.8%45.1%22.0%45.6%5.6%-5.1%507.4K-18.5M-37.1K0.5646.16N/AN/A111625,7874,192
2025-07-14$50.99$49.0046.1%13.2%44.7%23.7%45.3%7.4%-6.3%579.1K-16.7M-38.7K0.3836.17N/AN/A133515,8654,218
2025-07-15$50.02$49.0045.7%13.1%43.5%23.3%46.6%6.8%-6.5%668.2K-14.6M-38.9K0.1937.08N/AN/A108205,9394,259
2025-07-16$49.86$49.0045.6%13.1%42.9%23.1%48.4%7.4%-6.4%789.2K-14.3M-39.4K0.2340.72N/AN/A96226,0044,270
2025-07-17$50.51$49.0044.7%12.8%38.7%21.8%49.1%5.4%-7.0%1.2M-17.0M-38.5K0.8845.44N/AN/A26236,0624,289
2025-07-18$49.30$49.0047.4%13.6%39.9%25.5%51.5%8.8%0.0%237.0K-11.3M-36.9K3.3133.76N/AN/A782586,0684,306
2025-07-21$48.33$49.0048.0%13.8%40.7%26.4%46.7%8.6%-6.7%195.4K-4.6M-35.1K0.5851.70N/AN/A5563253,3282,725
2025-07-22$50.44$50.0046.7%13.4%42.5%24.6%44.3%7.3%-7.1%271.1K-7.0M-41.2K0.0648.76N/AN/A574333,7403,026
2025-07-23$51.27$50.0047.4%13.6%40.5%25.6%44.9%8.9%-7.5%323.6K-8.7M-43.6K0.2256.09N/AN/A99224,1373,053
2025-07-24$51.88$50.0048.2%13.8%40.0%26.6%50.0%6.9%-7.9%362.6K-9.5M-43.8K1.1751.08N/AN/A53624,1963,072
2025-07-25$52.40$50.0048.3%13.8%39.0%26.7%56.7%7.2%-4.1%377.7K-10.3M-42.8K1.5256.40N/AN/A21324,2193,121
2025-07-28$51.59$50.0060.8%17.4%39.7%43.7%59.4%7.7%-17.7%324.6K-9.2M-42.4K0.0557.59N/AN/A2,2181104,2353,151
2025-07-29$50.18$50.0054.9%15.7%40.9%35.7%54.7%-0.4%-15.3%305.1K-6.9M-45.9K1.6164.73N/AN/A741194,6063,254
2025-07-30$49.73$50.0054.1%15.5%38.7%34.7%52.3%8.3%-10.2%286.3K-5.8M-43.1K5.5350.62N/AN/A17944,6583,355
2025-07-31$51.11$50.0041.0%11.8%39.3%16.9%36.0%21.4%-3.0%408.0K-7.5M-44.3K0.4986.57N/AN/A39194,6683,447