UYG Options History — January 2025

In January 2025, UYG traded between $81.78 and $96.50. ATM implied volatility averaged 33.5%, placing in the 31.4% IV rank vs the trailing year. The 30-day expected move averaged 8.9%. IV traded above realized volatility by 0.9% (HV 20d: 32.6%). Max pain ranged from $80.00 to $84.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 5 of 20 days. Put/call ratio averaged 0.43.

Notable Days

2025-01-24: Highest Volume — 157 contracts
2025-01-15: Largest IV drop — 35.9% change
2025-01-13: Highest IV Rank — 67.1%
2025-01-02: Largest Expected Move — 11.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$90.10	$81.78	$96.50	$85.21	$96.39
Max Pain	$81.55	$80.00	$84.00	$80.00	$81.00
ATM IV	33.5%	21.6%	51.7%	39.4%	28.1%
Expected Move	8.9%	6.2%	11.3%	11.3%	8.1%
HV 20d	32.6%	28.3%	40.6%	28.5%	30.5%
HV 60d	37.4%	35.3%	38.6%	36.3%	37.8%
IV Rank	31.4%	8.0%	67.1%	42.9%	20.7%
IV Percentile	68.0%	6.7%	99.2%	95.6%	55.2%
Term Structure	-1.2%	-5.1%	5.7%	-1.7%	-1.0%
VWIV	30.4%	24.9%	39.8%	32.4%	25.8%
Skew 25d	7.0%	-1.5%	17.6%	11.3%	3.8%
Skew 10d	13.1%	-6.1%	25.9%	12.5%	7.3%
Call IV 25d	27.6%	18.9%	39.1%	28.2%	25.2%
Put IV 25d	34.6%	25.5%	42.6%	39.5%	29.0%
Bid-Ask Spread %	85.72	68.28	114.55	110.59	80.25
Gamma HHI	0.14	0.09	0.35	0.11	0.15
Net GEX	82.2K	52.2K	125.8K	58.8K	125.8K
Net DEX	-2.6M	-3.8M	-1.4M	-1.8M	-3.8M
Net VEX	-6.9K	-7.9K	-6.2K	-6.8K	-7.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.43	0.00	3.33	2.00	0.22
Total Volume	28.6	0	157	3	11
Total OI	777.75	653	866	744	866

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	$85.21	$80.00	39.4%	11.3%	28.5%	42.9%	0.0%	11.3%	-1.7%	58.8K	-1.8M	-6.8K	2.00	110.59	N/A	N/A	1	2	624	120
2025-01-03	$86.23	$80.00	34.1%	9.8%	29.1%	32.6%	0.0%	1.3%	-0.4%	61.8K	-2.0M	-6.9K	0.00	109.58	N/A	N/A	24	0	625	121
2025-01-06	$85.68	$82.00	39.3%	10.6%	28.8%	42.7%	0.0%	9.2%	-3.4%	69.1K	-2.1M	-7.1K	0.00	81.50	N/A	N/A	0	20	649	121
2025-01-07	$85.05	$82.00	37.9%	10.2%	28.8%	40.0%	32.4%	6.7%	-1.6%	71.8K	-2.1M	-6.7K	0.00	73.81	N/A	N/A	14	0	649	138
2025-01-08	$85.67	$82.00	39.0%	9.3%	28.3%	42.2%	0.0%	-1.5%	0.1%	63.9K	-1.9M	-6.7K	0.00	83.46	N/A	N/A	0	0	655	138
2025-01-10	$81.78	$82.00	48.5%	10.4%	32.2%	60.7%	34.1%	0.4%	-2.7%	52.2K	-1.5M	-6.5K	0.05	82.24	N/A	N/A	22	1	655	138
2025-01-13	$82.64	$82.00	51.7%	10.2%	32.6%	67.1%	34.9%	7.7%	-3.6%	53.2K	-1.4M	-6.2K	3.33	88.93	N/A	N/A	3	10	657	137
2025-01-14	$84.50	$82.00	48.2%	10.9%	34.0%	60.1%	39.8%	9.2%	-5.1%	53.2K	-1.7M	-6.5K	0.75	77.50	N/A	N/A	4	3	660	147
2025-01-15	$89.66	$84.00	30.9%	8.9%	40.5%	26.2%	32.2%	8.8%	-0.8%	85.3K	-2.4M	-6.7K	0.10	78.03	N/A	N/A	20	2	664	150
2025-01-16	$90.26	$84.00	34.8%	10.0%	40.5%	33.9%	37.5%	9.5%	-0.7%	101.8K	-2.6M	-6.9K	0.42	78.40	N/A	N/A	12	5	679	151
2025-01-17	$91.92	$82.00	30.6%	8.8%	40.6%	25.6%	27.7%	17.6%	-0.4%	68.3K	-2.9M	-7.0K	0.00	68.28	N/A	N/A	152	0	684	152
2025-01-21	$93.38	$81.00	32.0%	9.2%	33.4%	28.4%	27.8%	6.3%	-4.5%	76.6K	-2.9M	-6.8K	0.33	82.90	N/A	N/A	15	5	526	127
2025-01-22	$92.66	$81.00	24.9%	7.1%	33.6%	14.5%	24.9%	-0.3%	0.5%	80.1K	-2.9M	-6.9K	0.25	86.76	N/A	N/A	4	1	524	130
2025-01-23	$93.27	$81.00	26.5%	7.6%	32.6%	17.5%	0.0%	7.3%	-0.6%	79.0K	-2.9M	-7.1K	0.00	71.70	N/A	N/A	12	0	526	131
2025-01-24	$93.75	$81.00	23.7%	6.8%	32.4%	12.1%	26.4%	4.7%	0.1%	86.2K	-3.0M	-6.8K	0.02	80.54	N/A	N/A	154	3	538	131
2025-01-27	$95.50	$81.00	25.2%	7.2%	32.2%	15.1%	27.6%	15.5%	-0.7%	110.8K	-3.3M	-6.7K	0.00	97.56	N/A	N/A	9	0	689	131
2025-01-28	$96.13	$81.00	21.6%	6.2%	32.2%	8.0%	29.1%	11.0%	5.7%	104.2K	-3.3M	-7.1K	0.07	82.72	N/A	N/A	15	1	693	131
2025-01-29	$95.81	$81.00	24.9%	7.2%	31.1%	14.5%	0.0%	2.2%	0.1%	118.3K	-3.6M	-7.2K	0.11	114.55	N/A	N/A	35	4	707	132
2025-01-30	$96.50	$81.00	29.3%	8.4%	30.8%	23.2%	25.6%	9.6%	-3.6%	123.9K	-3.8M	-7.9K	0.00	85.13	N/A	N/A	8	0	726	133
2025-01-31	$96.39	$81.00	28.1%	8.1%	30.5%	20.7%	25.8%	3.8%	-1.0%	125.8K	-3.8M	-7.9K	0.22	80.25	N/A	N/A	9	2	733	133