TTD Options History — January 2025

In January 2025, TTD traded between $116.30 and $126.53. ATM implied volatility averaged 52.7%, placing in the 49.0% IV rank vs the trailing year. The 30-day expected move averaged 16.3%. IV traded above realized volatility by 14.9% (HV 20d: 37.8%). Max pain ranged from $100.00 to $125.00. Net GEX was positive for 16 of 20 trading days. Term structure was in contango for 6 of 20 days. Put/call ratio averaged 0.63.

Notable Days

2025-01-17: Highest Volume — 20,381 contracts
2025-01-10: Largest IV spike — 22.6% change
2025-01-31: Highest IV Rank — 77.2%
2025-01-31: Largest Expected Move — 21.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$120.49	$116.30	$126.53	$117.56	$118.45
Max Pain	$120.60	$100.00	$125.00	$100.00	$120.00
ATM IV	52.7%	33.8%	66.1%	35.5%	66.1%
Expected Move	16.3%	9.6%	21.4%	10.3%	21.4%
HV 20d	37.8%	33.2%	41.4%	33.2%	37.7%
HV 60d	40.0%	37.1%	41.6%	37.1%	41.6%
IV Rank	49.0%	9.2%	77.2%	12.8%	77.2%
IV Percentile	69.5%	32.5%	90.1%	42.9%	90.1%
Term Structure	1.7%	-4.2%	18.7%	1.1%	-2.2%
VWIV	57.1%	34.1%	74.2%	36.4%	74.2%
Skew 25d	1.8%	0.1%	7.7%	2.4%	2.2%
Skew 10d	4.8%	-10.2%	33.8%	4.8%	5.2%
Call IV 25d	52.0%	33.4%	65.7%	34.6%	65.7%
Put IV 25d	53.8%	34.8%	67.8%	37.0%	67.8%
Bid-Ask Spread %	26.69	13.56	46.26	42.28	15.52
Gamma HHI	0.09	0.04	0.45	0.08	0.22
Net GEX	6.2M	-8.0M	31.6M	-3.8M	-8.0M
Net DEX	-393.9M	-698.4M	-163.0M	-363.9M	-188.3M
Net VEX	-3.0M	-3.2M	-2.9M	-2.9M	-3.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.63	0.29	1.31	1.31	0.46
Total Volume	14,454.05	8,050	20,381	17,400	19,946
Total OI	210,256.45	155,150	257,657	237,351	188,850

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-01-02	$117.56	$100.00	35.5%	10.3%	33.2%	12.8%	36.4%	2.4%	1.1%	-3.8M	-363.9M	-2.9M	1.31	42.28	N/A	N/A	7,528	9,872	117,668	119,683
2025-01-03	$121.17	$100.00	33.8%	9.6%	35.5%	9.2%	34.1%	1.5%	1.4%	31.6M	-532.5M	-2.9M	0.51	46.26	N/A	N/A	8,968	4,597	121,506	118,221
2025-01-06	$126.53	$120.00	35.3%	14.9%	39.1%	12.5%	51.9%	1.5%	17.8%	8.7M	-698.4M	-2.9M	0.35	29.34	N/A	N/A	11,725	4,161	115,993	117,129
2025-01-07	$120.94	$125.00	37.2%	15.3%	40.5%	16.4%	53.9%	1.7%	18.3%	4.6M	-504.1M	-2.9M	0.85	31.11	N/A	N/A	5,427	4,636	120,778	117,835
2025-01-08	$121.43	$125.00	37.2%	15.2%	39.3%	16.4%	53.3%	1.9%	18.6%	5.2M	-517.2M	-3.0M	1.09	26.75	N/A	N/A	3,846	4,204	123,263	119,566
2025-01-10	$118.61	$125.00	45.6%	15.7%	39.6%	34.0%	55.1%	1.1%	18.7%	-1.1M	-411.4M	-2.9M	0.54	32.69	N/A	N/A	12,402	6,726	124,316	121,071
2025-01-13	$118.14	$125.00	54.6%	16.0%	38.7%	53.2%	56.0%	7.7%	-3.9%	2.2M	-406.5M	-2.9M	0.42	28.99	N/A	N/A	8,086	3,417	118,596	118,016
2025-01-14	$116.30	$125.00	57.6%	16.3%	38.8%	59.5%	56.7%	1.8%	-2.9%	2.7M	-362.5M	-2.9M	0.43	33.87	N/A	N/A	6,333	2,723	123,761	119,007
2025-01-15	$119.75	$120.00	57.3%	15.8%	40.9%	58.8%	55.0%	2.2%	-1.9%	7.7M	-490.6M	-2.9M	1.06	31.55	N/A	N/A	6,603	7,003	126,019	119,462
2025-01-16	$121.63	$125.00	57.6%	15.9%	41.4%	59.4%	55.7%	2.4%	-2.8%	13.5M	-573.1M	-3.0M	0.98	29.93	N/A	N/A	7,691	7,527	128,859	121,746
2025-01-17	$124.05	$125.00	57.7%	15.8%	41.2%	59.5%	55.5%	1.8%	-3.5%	11.3M	-688.8M	-3.1M	0.52	25.34	N/A	N/A	13,376	7,005	131,965	125,692
2025-01-21	$124.31	$125.00	57.0%	16.2%	34.8%	58.2%	57.0%	0.3%	-0.8%	7.0M	-348.9M	-3.1M	0.62	13.56	N/A	N/A	6,183	3,864	83,985	71,165
2025-01-22	$120.87	$125.00	57.7%	16.5%	36.1%	59.5%	57.9%	0.8%	-3.3%	4.7M	-244.1M	-3.0M	0.69	21.06	N/A	N/A	7,323	5,081	87,991	72,939
2025-01-23	$118.24	$125.00	57.7%	16.7%	36.7%	59.6%	58.5%	0.9%	-3.8%	1.7M	-163.0M	-3.0M	0.38	21.45	N/A	N/A	11,389	4,373	91,233	74,975
2025-01-24	$120.03	$122.00	58.0%	17.0%	36.0%	60.2%	59.3%	0.1%	-4.2%	-2.6M	-242.4M	-3.1M	0.48	21.76	N/A	N/A	9,582	4,561	97,432	75,983
2025-01-27	$118.89	$120.00	60.2%	18.1%	35.9%	64.8%	63.9%	2.6%	-2.7%	5.8M	-229.6M	-3.1M	0.53	24.75	N/A	N/A	8,158	4,330	90,359	72,980
2025-01-28	$121.00	$120.00	61.7%	19.2%	36.4%	67.9%	67.0%	3.3%	-3.5%	10.3M	-304.7M	-3.1M	0.29	19.84	N/A	N/A	8,166	2,352	94,253	75,294
2025-01-29	$123.17	$120.00	61.7%	20.0%	36.0%	68.1%	69.2%	0.2%	-3.3%	15.9M	-388.0M	-3.1M	0.60	20.31	N/A	N/A	12,310	7,435	97,770	76,335
2025-01-30	$118.69	$120.00	64.4%	20.5%	38.4%	73.6%	71.6%	0.4%	-4.1%	7.1M	-219.3M	-3.2M	0.44	17.37	N/A	N/A	14,020	6,152	103,301	80,132
2025-01-31	$118.45	$120.00	66.1%	21.4%	37.7%	77.2%	74.2%	2.2%	-2.2%	-8.0M	-188.3M	-3.1M	0.46	15.52	N/A	N/A	13,700	6,246	106,532	82,318