UAN Options History — April 2025

In April 2025, UAN traded between $65.85 and $79.60. ATM implied volatility averaged 42.0%, placing in the 40.4% IV rank vs the trailing year. The 30-day expected move averaged 12.5%. IV traded above realized volatility by 1.1% (HV 20d: 40.9%). Max pain ranged from $70.00 to $70.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.24.

Notable Days

  • 2025-04-21: Highest Volume — 951 contracts
  • 2025-04-07: Largest IV spike — 37.3% change
  • 2025-04-09: Highest IV Rank — 66.7%
  • 2025-04-09: Largest Expected Move — 16.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$73.80$65.85$79.60$75.10$79.00
Max Pain$70.00$70.00$70.00$70.00$70.00
ATM IV42.0%24.9%57.2%26.0%36.9%
Expected Move12.5%8.2%16.4%8.2%10.6%
HV 20d40.9%15.5%49.0%19.7%49.0%
HV 60d32.4%25.8%34.5%25.8%34.5%
IV Rank40.4%10.6%66.7%12.6%31.5%
IV Percentile54.8%5.6%90.9%6.7%34.5%
Term Structure-5.5%-16.0%3.7%3.7%-4.8%
VWIV42.4%25.0%57.8%25.0%37.9%
Skew 25d4.6%-7.3%16.9%-1.7%-3.8%
Skew 10d15.4%-15.6%48.2%-3.3%19.8%
Call IV 25d39.7%27.0%50.2%27.0%38.0%
Put IV 25d44.3%25.3%57.3%25.3%34.2%
Bid-Ask Spread %93.7666.25103.12101.8466.25
Gamma HHI0.240.170.450.210.45
Net GEX464.8K203.8K887.7K356.0K875.0K
Net DEX-10.7M-20.2M-2.6M-8.3M-18.9M
Net VEX-62.5K-79.5K-45.9K-51.1K-68.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.240.001.000.380.40
Total Volume215.1433495136279
Total OI7,186.0956,0788,6906,0788,690

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$75.10$70.0026.0%8.2%19.7%12.6%25.0%-1.7%3.7%356.0K-8.3M-51.1K0.38101.84N/AN/A26105,254824
2025-04-02$76.63$70.0024.9%9.8%15.5%10.6%37.0%2.0%1.6%331.9K-9.4M-56.9K0.0698.96N/AN/A3225,279829
2025-04-03$75.73$70.0027.1%10.4%16.1%14.5%36.0%-4.1%-0.6%302.3K-8.2M-49.7K1.00100.51N/AN/A26265,306829
2025-04-04$70.19$70.0034.3%12.7%30.6%26.9%40.1%-3.3%-5.2%232.0K-4.5M-47.6K0.3296.39N/AN/A3181035,318849
2025-04-07$66.10$70.0047.0%12.9%36.3%49.1%42.6%-1.1%-4.1%203.8K-2.6M-45.9K0.65103.12N/AN/A71465,504876
2025-04-08$65.85$70.0044.6%14.6%36.3%44.9%57.8%6.7%0.5%204.0K-3.3M-51.8K0.15101.61N/AN/A215325,571900
2025-04-09$69.04$70.0057.2%16.4%41.0%66.7%55.1%8.3%-16.0%227.0K-5.2M-56.0K0.28101.05N/AN/A269755,681896
2025-04-10$67.79$70.0050.3%14.4%41.1%54.8%51.5%12.3%-9.0%243.3K-4.7M-52.5K0.0599.57N/AN/A15285,865891
2025-04-11$71.75$70.0049.9%14.3%46.5%54.1%44.4%7.9%-12.3%330.5K-8.4M-65.5K0.1995.20N/AN/A81156,009881
2025-04-14$73.08$70.0051.1%14.6%47.1%56.0%45.7%4.8%-7.6%346.1K-9.5M-65.6K0.0593.53N/AN/A5736,082892
2025-04-15$73.96$70.0043.9%12.6%47.3%43.6%44.6%-7.3%-3.9%442.0K-10.1M-61.3K0.5799.31N/AN/A74426,138894
2025-04-16$73.25$70.0044.6%12.8%47.0%44.9%48.2%10.3%-0.2%326.6K-8.8M-62.0K0.1193.61N/AN/A93106,226888
2025-04-17$74.50$70.0044.3%12.7%47.4%44.3%41.3%9.2%-12.2%322.2K-10.3M-67.4K0.0295.14N/AN/A16246,311884
2025-04-21$73.50$70.0048.5%13.9%47.5%51.5%45.6%8.8%-8.8%382.6K-10.0M-64.2K0.0095.31N/AN/A94746,006769
2025-04-22$74.91$70.0038.5%11.0%48.0%34.3%32.5%-3.2%-5.9%666.9K-12.9M-68.8K0.0087.89N/AN/A54816,887771
2025-04-23$75.63$70.0044.2%12.7%48.1%44.1%40.6%9.8%-4.5%667.8K-14.3M-72.7K0.0592.90N/AN/A19797,430770
2025-04-24$76.45$70.0050.8%14.6%48.2%55.6%45.4%10.0%-13.6%699.6K-16.1M-79.5K0.2492.34N/AN/A41107,598766
2025-04-25$78.25$70.0036.7%10.5%48.9%31.1%41.0%6.5%-1.4%852.5K-18.4M-76.9K0.1396.81N/AN/A92127,632764
2025-04-28$79.50$70.0045.0%12.9%48.9%45.6%43.2%16.9%-6.7%860.5K-19.9M-78.5K0.1487.66N/AN/A225327,603755
2025-04-29$79.60$70.0037.0%10.6%48.9%31.7%35.4%6.9%-5.3%887.7K-20.2M-71.4K0.2669.87N/AN/A134357,809781
2025-04-30$79.00$70.0036.9%10.6%49.0%31.5%37.9%-3.8%-4.8%875.0K-18.9M-68.3K0.4066.25N/AN/A199807,896794