VERS Options History — January 2025

In January 2025, VERS traded between $49.32 and $55.99. ATM implied volatility averaged 28.8%, placing in the 31.4% IV rank vs the trailing year. The 30-day expected move averaged 7.7%. IV traded below realized volatility by 16.8% (HV 20d: 45.6%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 1.00.

Notable Days

2025-01-02: Highest Volume — 2 contracts
2025-01-15: Largest IV drop — 36.8% change
2025-01-14: Highest IV Rank — 66.6%
2025-01-27: Largest Expected Move — 8.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$53.20	$49.32	$55.99	$49.32	$54.20
Max Pain	$40.00	$40.00	$40.00	$40.00	$40.00
ATM IV	28.8%	23.1%	43.1%	26.9%	24.4%
Expected Move	7.7%	6.6%	8.8%	7.7%	7.0%
HV 20d	45.6%	25.0%	50.6%	25.0%	48.0%
HV 60d	31.1%	21.3%	34.0%	21.3%	33.6%
IV Rank	31.4%	17.2%	66.6%	26.7%	20.6%
IV Percentile	67.5%	23.8%	96.0%	70.2%	36.1%
Term Structure	-0.3%	-3.5%	3.3%	-3.3%	0.3%
Skew 25d	0.6%	-4.7%	4.5%	-0.3%	-0.4%
Skew 10d	1.7%	-1.4%	7.0%	0.9%	0.6%
Call IV 25d	23.4%	20.2%	28.5%	28.5%	23.1%
Put IV 25d	24.0%	19.8%	28.2%	28.2%	22.8%
Bid-Ask Spread %	122.37	108.00	128.73	127.68	125.63
Gamma HHI	0.34	0.23	0.39	0.23	0.39
Net GEX	1.5K	1.3K	1.6K	1.6K	1.5K
Net DEX	-67.5K	-84.8K	-57.0K	-57.4K	-64.7K
Net VEX	-173	-199	-154	-178	-154
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.00	1.00	1.00	1.00	1.00
Total Volume	0.1	0	2	2	0
Total OI	18.55	17	20	18	17

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	$49.32	$40.00	26.9%	7.7%	25.0%	26.7%	0.0%	-0.3%	-3.3%	1.6K	-57.4K	-178	1.00	127.68	N/A	N/A	1	1	18	0
2025-01-03	$50.66	$40.00	24.7%	7.1%	26.3%	21.2%	0.0%	1.5%	3.3%	1.5K	-62.4K	-199	0.00	128.73	N/A	N/A	0	0	19	1
2025-01-06	$55.99	$0.00	26.7%	7.8%	43.6%	26.3%	0.0%	-0.0%	0.8%	1.3K	-84.8K	-170	0.00	108.00	N/A	N/A	0	0	19	1
2025-01-07	$55.03	$0.00	34.1%	8.1%	44.4%	44.3%	0.0%	-4.7%	-1.3%	1.3K	-83.6K	-167	0.00	125.71	N/A	N/A	0	0	19	1
2025-01-08	$54.44	$0.00	31.1%	8.1%	44.8%	37.1%	0.0%	4.5%	-3.5%	1.4K	-78.5K	-185	0.00	111.60	N/A	N/A	0	0	19	1
2025-01-10	$52.95	$0.00	36.0%	8.2%	46.2%	49.1%	0.0%	0.1%	-2.0%	1.5K	-74.1K	-183	0.00	113.27	N/A	N/A	0	0	19	1
2025-01-13	$51.49	$0.00	38.8%	8.6%	47.2%	55.9%	0.0%	4.3%	-1.1%	1.5K	-66.1K	-191	0.00	116.52	N/A	N/A	0	0	19	1
2025-01-14	$50.36	$0.00	43.1%	7.5%	47.7%	66.6%	0.0%	-1.1%	0.9%	1.6K	-63.8K	-191	0.00	115.98	N/A	N/A	0	0	19	1
2025-01-15	$52.45	$0.00	27.3%	7.8%	49.5%	27.5%	0.0%	0.1%	0.1%	1.5K	-72.3K	-182	0.00	121.39	N/A	N/A	0	0	19	1
2025-01-16	$52.34	$0.00	26.6%	7.6%	49.5%	25.9%	0.0%	0.4%	0.7%	1.5K	-71.2K	-183	0.00	124.03	N/A	N/A	0	0	19	1
2025-01-17	$52.78	$0.00	26.6%	7.6%	49.4%	25.9%	0.0%	0.5%	-0.3%	1.5K	-72.9K	-182	0.00	123.44	N/A	N/A	0	0	19	1
2025-01-21	$53.48	$0.00	29.1%	8.3%	47.6%	32.1%	0.0%	2.4%	-2.0%	1.5K	-59.1K	-175	0.00	121.62	N/A	N/A	0	0	16	1
2025-01-22	$53.96	$0.00	25.3%	7.3%	47.6%	22.8%	0.0%	0.7%	0.2%	1.5K	-62.1K	-163	0.00	128.07	N/A	N/A	0	0	16	1
2025-01-23	$54.97	$0.00	25.4%	7.3%	47.6%	23.1%	0.0%	1.0%	0.3%	1.4K	-65.9K	-159	0.00	124.52	N/A	N/A	0	0	16	1
2025-01-24	$55.11	$0.00	23.1%	6.6%	47.6%	17.2%	0.0%	1.1%	3.2%	1.4K	-67.5K	-157	0.00	126.12	N/A	N/A	0	0	16	1
2025-01-27	$52.75	$0.00	30.5%	8.8%	50.6%	35.6%	0.0%	0.4%	-2.4%	1.6K	-57.0K	-171	0.00	124.74	N/A	N/A	0	0	16	1
2025-01-28	$53.79	$0.00	25.9%	7.4%	49.9%	24.1%	0.0%	0.4%	-0.8%	1.5K	-61.1K	-160	0.00	126.72	N/A	N/A	0	0	16	1
2025-01-29	$53.84	$0.00	25.4%	7.3%	49.6%	23.0%	0.0%	0.7%	1.1%	1.5K	-62.1K	-158	0.00	128.26	N/A	N/A	0	0	16	1
2025-01-30	$54.06	$0.00	25.3%	7.2%	49.1%	22.6%	0.0%	0.4%	-0.4%	1.5K	-63.2K	-158	0.00	125.27	N/A	N/A	0	0	16	1
2025-01-31	$54.20	$0.00	24.4%	7.0%	48.0%	20.6%	0.0%	-0.4%	0.3%	1.5K	-64.7K	-154	0.00	125.63	N/A	N/A	0	0	16	1