VERX Options History — March 2025

In March 2025, VERX traded between $31.33 and $36.46. ATM implied volatility averaged 47.7%, placing in the 29.2% IV rank vs the trailing year. The 30-day expected move averaged 14.4%. IV traded below realized volatility by 34.8% (HV 20d: 82.5%). Max pain ranged from $25.00 to $35.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.15.

Notable Days

  • 2025-03-20: Highest Volume — 479 contracts
  • 2025-03-11: Largest IV spike — 29.5% change
  • 2025-03-11: Highest IV Rank — 40.4%
  • 2025-03-12: Largest Expected Move — 15.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.14$31.33$36.46$32.10$34.77
Max Pain$33.06$25.00$35.00$35.00$30.00
ATM IV47.7%40.4%56.2%40.4%45.7%
Expected Move14.4%11.6%15.8%11.6%15.5%
HV 20d82.5%41.2%92.9%85.9%42.1%
HV 60d60.4%57.7%61.9%58.3%61.4%
IV Rank29.2%19.6%40.4%19.6%26.6%
IV Percentile63.7%44.8%80.2%44.8%60.3%
Term Structure2.3%-15.4%9.2%-2.0%8.2%
VWIV50.4%31.3%61.4%46.4%54.5%
Skew 25d4.0%-22.7%19.9%-17.1%19.9%
Skew 10d9.2%-5.3%31.9%13.4%31.9%
Call IV 25d44.4%28.4%54.0%51.9%34.3%
Put IV 25d48.4%31.3%57.6%34.8%54.2%
Bid-Ask Spread %74.7145.82105.2465.2482.56
Gamma HHI0.610.220.940.640.25
Net GEX258.6K65.1K1.3M153.8K71.9K
Net DEX-4.3M-8.9M-1.8M-2.4M-3.9M
Net VEX-13.2K-14.9K-11.8K-12.4K-12.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.150.000.560.240.56
Total Volume158.4291347924514
Total OI5,532.7623,0287,1075,8403,151

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$32.10$35.0040.4%11.6%85.9%19.6%46.4%-17.1%-2.0%153.8K-2.4M-12.4K0.2465.24N/AN/A197484,849991
2025-03-04$32.25$35.0041.4%11.9%86.1%20.9%51.2%-22.7%-13.8%168.8K-2.5M-13.5K0.1471.18N/AN/A2135,0021,018
2025-03-05$33.34$35.0048.7%14.0%88.4%30.5%48.3%3.8%4.4%205.1K-3.3M-14.6K0.0156.87N/AN/A27325,0141,017
2025-03-06$33.75$35.0050.5%14.5%88.6%33.0%50.3%16.4%1.0%212.5K-3.9M-14.9K0.0372.71N/AN/A27785,0711,016
2025-03-07$32.40$35.0052.6%15.1%88.2%35.7%61.4%7.0%9.2%181.6K-2.5M-12.9K0.0566.93N/AN/A15185,3131,015
2025-03-10$31.33$35.0043.4%12.4%88.1%23.6%33.1%0.7%0.2%141.8K-1.8M-12.1K0.1581.35N/AN/A117185,3411,021
2025-03-11$31.81$35.0056.2%14.1%89.4%40.4%59.4%5.9%-1.6%166.8K-2.4M-13.3K0.0373.37N/AN/A3815,4441,034
2025-03-12$33.61$35.0050.7%15.8%92.9%33.2%53.8%3.6%4.0%251.6K-4.0M-14.8K0.0666.13N/AN/A282175,4601,033
2025-03-13$32.56$35.0050.8%14.2%92.6%33.3%60.7%3.4%2.3%215.8K-3.1M-13.9K0.1145.82N/AN/A184205,5541,002
2025-03-14$33.55$35.0048.3%14.5%87.8%30.1%45.6%7.5%2.1%326.3K-3.9M-14.4K0.4658.66N/AN/A37175,7391,006
2025-03-17$34.53$25.0048.8%14.9%87.8%30.7%51.9%7.6%3.2%407.6K-5.0M-14.2K0.4584.10N/AN/A165755,7651,008
2025-03-18$34.72$25.0049.5%14.9%87.2%31.6%50.7%7.7%2.4%429.4K-5.3M-14.2K0.4273.22N/AN/A55235,8081,005
2025-03-19$36.46$25.0050.4%15.6%89.7%32.8%54.9%9.5%3.4%438.2K-8.9M-13.6K0.1680.63N/AN/A389646,0011,026
2025-03-20$36.11$0.0047.7%15.0%89.6%29.2%0.0%6.2%4.8%409.6K-8.6M-13.1K0.01105.24N/AN/A47455,8851,076
2025-03-21$35.38$0.0043.9%14.2%89.3%24.3%0.0%18.4%3.4%1.3M-8.3M-13.0K0.1288.75N/AN/A6986,0311,076
2025-03-24$35.55$0.0055.7%14.4%89.5%39.8%50.7%-6.0%-15.4%65.1K-4.3M-12.0K0.0370.67N/AN/A3812,703325
2025-03-25$35.63$35.0043.8%14.7%89.0%24.1%0.0%6.1%7.3%68.3K-4.2M-12.0K0.0880.44N/AN/A1212,724324
2025-03-26$35.67$35.0044.5%14.9%88.9%25.1%31.3%-4.2%7.8%67.6K-4.2M-11.8K0.0089.28N/AN/A17702,717325
2025-03-27$35.95$35.0043.9%15.1%49.6%24.3%52.8%3.1%8.7%74.9K-4.5M-12.2K0.0575.05N/AN/A1912,819325
2025-03-28$35.56$35.0044.9%15.4%41.2%25.6%54.5%7.4%9.0%73.7K-4.3M-12.4K0.0680.73N/AN/A1712,828326
2025-03-31$34.77$30.0045.7%15.5%42.1%26.6%0.0%19.9%8.2%71.9K-3.9M-12.4K0.5682.56N/AN/A952,831320