TEX Options History — August 2025

In August 2025, TEX traded between $48.33 and $52.63. ATM implied volatility averaged 36.2%, placing in the 10.3% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded below realized volatility by 2.4% (HV 20d: 38.6%). Max pain ranged from $46.00 to $50.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 2.38.

Notable Days

  • 2025-08-26: Highest Volume — 1,232 contracts
  • 2025-08-05: Largest IV drop — 36.5% change
  • 2025-08-04: Highest IV Rank — 32.4%
  • 2025-08-01: Largest Expected Move — 11.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$50.22$48.33$52.63$48.92$49.58
Max Pain$48.00$46.00$50.00$50.00$50.00
ATM IV36.2%32.8%52.4%39.8%35.2%
Expected Move10.1%9.4%11.4%11.4%10.1%
HV 20d38.6%32.3%43.0%42.4%41.5%
HV 60d40.8%38.2%45.9%45.9%40.1%
IV Rank10.3%5.6%32.4%15.2%9.0%
IV Percentile23.4%5.2%88.1%50.0%19.0%
Term Structure0.0%-2.3%5.1%-2.2%-0.6%
VWIV35.6%30.3%40.0%38.6%34.5%
Skew 25d5.8%2.7%15.2%15.2%3.3%
Skew 10d15.7%7.2%26.1%26.1%7.2%
Call IV 25d32.0%29.1%35.5%31.6%34.1%
Put IV 25d37.8%35.4%46.8%46.8%37.3%
Bid-Ask Spread %54.1640.2774.5371.5046.29
Gamma HHI0.310.190.500.230.28
Net GEX348.5K165.8K618.5K242.1K396.8K
Net DEX-6.4M-12.6M-2.7M-3.9M-7.1M
Net VEX-38.2K-48.2K-33.6K-41.6K-43.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.380.0225.831.700.12
Total Volume259.095551,232116434
Total OI8,089.0486,5808,9298,1408,929

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-08-01$48.92$50.0039.8%11.4%42.4%15.2%38.6%15.2%-2.2%242.1K-3.9M-41.6K1.7071.50N/AN/A43734,6893,451
2025-08-04$49.34$47.0052.4%11.2%42.3%32.4%37.0%2.8%2.3%274.9K-4.6M-40.5K0.4864.06N/AN/A50244,6843,477
2025-08-05$49.54$48.0033.3%9.9%40.5%6.3%33.8%2.7%-0.1%302.6K-5.0M-36.1K0.6354.62N/AN/A41264,6853,491
2025-08-06$48.80$48.0034.6%10.5%40.7%8.1%39.7%3.7%-2.3%227.6K-3.9M-38.8K0.6256.94N/AN/A45284,7153,500
2025-08-07$48.41$48.0036.8%10.6%34.9%11.2%40.0%5.4%5.1%189.8K-2.7M-36.0K0.0753.57N/AN/A11884,7533,521
2025-08-08$48.52$48.0035.0%10.2%32.9%8.6%37.3%5.2%2.4%215.3K-3.0M-36.2K25.8350.14N/AN/A184654,7723,524
2025-08-11$48.41$48.0042.6%10.0%32.3%19.0%34.5%5.7%-0.3%221.0K-2.9M-34.0K0.5950.83N/AN/A155914,7773,755
2025-08-12$50.72$48.0035.8%9.7%36.1%9.8%33.9%5.8%0.5%469.1K-7.1M-37.2K3.4552.79N/AN/A331144,8923,751
2025-08-13$52.44$48.0034.8%10.0%37.8%8.4%33.6%4.4%0.8%404.1K-10.6M-37.9K0.1953.04N/AN/A96184,8973,743
2025-08-14$51.80$48.0035.7%10.2%38.0%9.7%35.3%7.6%-1.7%381.8K-10.4M-35.7K0.3974.53N/AN/A71284,9153,745
2025-08-15$50.45$47.0033.7%9.7%38.2%6.9%38.7%6.3%-0.0%479.3K-6.9M-33.9K0.7254.65N/AN/A124894,9603,766
2025-08-18$50.20$46.0033.3%9.5%37.4%6.3%32.4%6.6%-0.3%297.7K-5.7M-33.6K0.9144.02N/AN/A2011823,7922,788
2025-08-19$50.84$46.0035.3%10.1%34.5%9.0%32.2%5.3%-1.5%336.1K-6.3M-35.6K0.4255.55N/AN/A2831193,9112,945
2025-08-20$49.80$47.0033.2%9.5%34.7%6.2%37.5%5.7%-0.3%273.9K-5.0M-35.8K1.3949.30N/AN/A56784,0743,054
2025-08-21$48.33$47.0035.8%10.3%35.8%9.7%37.4%6.4%-0.9%165.8K-3.2M-33.7K0.5940.27N/AN/A140834,1113,123
2025-08-22$51.55$47.0033.9%9.7%43.0%7.1%30.3%6.4%-0.8%390.4K-6.7M-38.3K0.0755.54N/AN/A402274,1023,186
2025-08-25$51.14$47.0034.5%9.9%42.7%8.0%34.7%6.3%-0.6%428.6K-6.8M-39.2K9.7142.75N/AN/A313014,4833,200
2025-08-26$51.42$50.0036.1%10.4%41.5%10.2%35.5%3.6%0.0%410.1K-7.6M-39.9K0.0254.49N/AN/A1,210224,5063,394
2025-08-27$52.63$50.0032.8%9.4%42.1%5.6%35.0%8.3%1.3%618.5K-12.6M-48.2K0.7955.91N/AN/A33265,4813,408
2025-08-28$51.81$50.0035.7%10.2%41.5%9.7%34.9%4.4%-0.4%593.5K-11.4M-47.0K1.3956.51N/AN/A23325,4923,428
2025-08-29$49.58$50.0035.2%10.1%41.5%9.0%34.5%3.3%-0.6%396.8K-7.1M-43.5K0.1246.29N/AN/A389455,4913,438