USRT Options History — May 2025

In May 2025, USRT traded between $55.61 and $57.65. ATM implied volatility averaged 22.8%, placing in the 15.5% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 0.6% (HV 20d: 22.2%). Max pain ranged from $55.00 to $60.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 0.20.

Notable Days

2025-05-22: Highest Volume — 9 contracts
2025-05-14: Largest IV drop — 34.7% change
2025-05-12: Highest IV Rank — 37.7%
2025-05-01: Largest Expected Move — 6.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$56.69	$55.61	$57.65	$56.50	$57.16
Max Pain	$56.63	$55.00	$60.00	$60.00	$55.00
ATM IV	22.8%	17.3%	35.0%	23.2%	21.1%
Expected Move	5.6%	5.0%	6.6%	6.6%	6.0%
HV 20d	22.2%	12.5%	44.4%	44.4%	16.0%
HV 60d	28.5%	28.0%	29.1%	28.1%	29.1%
IV Rank	15.5%	5.6%	37.7%	16.2%	12.4%
IV Percentile	59.1%	9.5%	94.0%	72.2%	57.5%
Term Structure	-1.2%	-4.5%	2.2%	-1.2%	-3.0%
VWIV	18.6%	16.6%	20.4%	18.8%	20.4%
Skew 25d	0.7%	-4.1%	15.3%	0.9%	1.9%
Skew 10d	3.8%	-12.6%	20.0%	-12.6%	4.1%
Call IV 25d	19.9%	6.3%	25.2%	25.0%	23.1%
Put IV 25d	20.6%	15.9%	26.0%	26.0%	25.0%
Bid-Ask Spread %	146.07	129.78	154.19	129.78	148.48
Gamma HHI	0.18	0.12	0.28	0.13	0.27
Net GEX	1.1K	-705	5.2K	234	1.7K
Net DEX	-3.7K	-22.2K	7.5K	5.9K	-22.2K
Net VEX	-149	-193	-112	-155	-153
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.20	0.00	0.50	0.00	0.50
Total Volume	1	0	9	0	0
Total OI	56.762	16	83	81	25

Daily Data (21 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
2025-05-01	$56.50	$60.00	23.2%	6.6%	44.4%	16.2%	0.0%	0.9%	-1.2%	234	5.9K	-155	0.00	129.78	N/A	N/A	0	0	67	14
2025-05-02	$56.98	$60.00	21.1%	6.0%	41.8%	12.4%	18.8%	-3.1%	1.4%	21	5.5K	-145	0.00	135.12	N/A	N/A	2	0	67	14
2025-05-05	$56.79	$0.00	25.0%	5.7%	39.8%	19.5%	0.0%	-3.0%	-0.4%	1.6K	-1.9K	-160	0.00	145.57	N/A	N/A	0	0	69	14
2025-05-06	$56.53	$0.00	26.6%	5.3%	35.6%	22.4%	0.0%	-2.3%	1.5%	1.4K	-140	-158	0.00	144.57	N/A	N/A	0	0	69	14
2025-05-07	$56.67	$0.00	26.6%	5.7%	33.3%	22.4%	0.0%	-1.2%	-0.1%	1.4K	-823	-157	0.00	145.97	N/A	N/A	0	0	69	14
2025-05-08	$56.53	$0.00	27.1%	5.2%	23.3%	23.3%	0.0%	-3.0%	1.4%	1.2K	438	-153	0.00	146.51	N/A	N/A	0	0	69	14
2025-05-09	$56.70	$0.00	28.9%	5.2%	19.1%	26.7%	0.0%	2.5%	2.2%	1.5K	-419	-151	0.00	148.68	N/A	N/A	0	0	69	14
2025-05-12	$57.13	$0.00	35.0%	5.6%	18.2%	37.7%	0.0%	2.0%	-2.5%	2.4K	-3.9K	-145	0.00	145.79	N/A	N/A	0	0	69	14
2025-05-13	$56.70	$0.00	28.4%	5.1%	17.0%	25.6%	0.0%	1.3%	0.0%	1.3K	598	-135	0.00	145.59	N/A	N/A	0	0	69	14
2025-05-14	$55.93	$0.00	18.5%	5.3%	17.9%	7.8%	0.0%	1.5%	-1.5%	612	4.4K	-139	0.00	154.19	N/A	N/A	0	0	69	14
2025-05-15	$56.86	$0.00	18.1%	5.2%	18.5%	7.0%	0.0%	2.4%	-0.8%	1.3K	568	-126	0.00	148.53	N/A	N/A	0	0	69	14
2025-05-16	$57.54	$0.00	17.3%	5.0%	17.6%	5.6%	0.0%	2.1%	-2.1%	5.2K	-14.8K	-123	0.00	150.12	N/A	N/A	2	0	69	14
2025-05-19	$57.65	$0.00	18.1%	5.2%	14.1%	7.0%	0.0%	15.3%	-2.7%	-632	4.1K	-112	0.00	146.27	N/A	N/A	0	0	2	14
2025-05-20	$57.31	$0.00	19.6%	5.6%	12.5%	9.7%	0.0%	1.4%	-2.5%	-705	4.7K	-117	0.00	153.35	N/A	N/A	5	0	2	14
2025-05-21	$55.88	$0.00	19.9%	5.7%	15.8%	10.2%	16.6%	0.9%	-4.3%	42	-714	-159	0.50	145.70	N/A	N/A	2	1	7	14
2025-05-22	$55.75	$58.00	20.3%	5.8%	15.5%	11.0%	20.4%	0.8%	-0.5%	-433	7.5K	-169	0.50	139.70	N/A	N/A	6	3	7	15
2025-05-23	$55.61	$55.00	21.1%	6.0%	15.5%	12.4%	0.0%	-2.3%	-1.2%	1.2K	-8.8K	-193	0.00	148.44	N/A	N/A	0	0	11	14
2025-05-27	$56.58	$55.00	20.4%	5.8%	16.5%	11.2%	0.0%	-2.5%	-2.5%	1.6K	-18.1K	-161	0.00	146.57	N/A	N/A	0	0	11	14
2025-05-28	$56.55	$55.00	21.7%	6.2%	16.5%	13.5%	0.0%	-4.1%	-4.5%	1.5K	-17.8K	-167	0.00	151.86	N/A	N/A	0	0	11	14
2025-05-29	$57.11	$55.00	20.8%	6.0%	16.8%	11.9%	0.0%	3.0%	-2.5%	1.6K	-21.9K	-158	0.00	146.68	N/A	N/A	0	0	11	14
2025-05-30	$57.16	$55.00	21.1%	6.0%	16.0%	12.4%	0.0%	1.9%	-3.0%	1.7K	-22.2K	-153	0.00	148.48	N/A	N/A	0	0	11	14