WULF Options History — March 2025

In March 2025, WULF traded between $2.71 and $3.67. ATM implied volatility averaged 103.5%, placing in the 26.4% IV rank vs the trailing year. The 30-day expected move averaged 32.8%. IV traded below realized volatility by 10.2% (HV 20d: 113.7%). Max pain ranged from $4.00 to $4.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.26.

Notable Days

2025-03-06: Highest Volume — 76,458 contracts
2025-03-12: Largest IV spike — 56.9% change
2025-03-31: Highest IV Rank — 44.7%
2025-03-10: Largest Expected Move — 43.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.21	$2.71	$3.67	$3.63	$2.71
Max Pain	$4.21	$4.00	$4.50	$4.50	$4.00
ATM IV	103.5%	73.4%	128.9%	107.5%	110.7%
Expected Move	32.8%	27.5%	43.8%	33.8%	32.2%
HV 20d	113.7%	88.9%	132.4%	91.1%	114.1%
HV 60d	129.9%	127.1%	132.8%	131.4%	127.1%
IV Rank	26.4%	0.0%	44.7%	18.5%	44.7%
IV Percentile	20.2%	0.0%	80.2%	18.3%	32.9%
Term Structure	2.2%	-43.3%	75.9%	-24.7%	27.3%
VWIV	114.9%	97.4%	148.5%	119.5%	113.0%
Skew 25d	-6.1%	-48.2%	32.9%	-25.8%	32.9%
Skew 10d	12.9%	-44.9%	144.9%	-3.0%	144.9%
Call IV 25d	104.4%	72.4%	144.8%	95.1%	104.3%
Put IV 25d	98.3%	56.5%	137.2%	69.3%	137.2%
Bid-Ask Spread %	19.44	4.80	40.85	6.37	20.70
Gamma HHI	0.12	0.10	0.14	0.12	0.13
Net GEX	425.6K	249.5K	663.0K	629.7K	249.5K
Net DEX	-24.3M	-37.7M	-8.4M	-33.1M	-8.4M
Net VEX	-464.1K	-536.3K	-341.1K	-532.1K	-341.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.26	0.05	0.74	0.20	0.74
Total Volume	32,075.81	9,978	76,458	45,626	32,020
Total OI	900,952.095	758,275	985,374	904,344	778,832

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
2025-03-03	$3.63	$4.50	107.5%	33.8%	91.1%	18.5%	119.5%	-25.8%	-24.7%	629.7K	-33.1M	-532.1K	0.20	6.37	N/A	N/A	38,173	7,453	741,048	163,296
2025-03-04	$3.52	$4.50	109.5%	35.0%	88.9%	20.2%	123.5%	1.0%	3.0%	560.9K	-28.5M	-510.6K	0.55	6.29	N/A	N/A	33,749	18,406	748,556	164,887
2025-03-05	$3.67	$4.50	120.5%	35.2%	90.4%	30.3%	122.0%	-22.4%	-37.6%	663.0K	-35.5M	-526.3K	0.12	7.12	N/A	N/A	23,986	2,828	758,521	167,575
2025-03-06	$3.34	$4.50	101.2%	36.7%	94.4%	12.7%	129.0%	-41.2%	-1.9%	507.8K	-24.5M	-484.4K	0.07	6.54	N/A	N/A	71,664	4,794	766,924	168,181
2025-03-07	$3.59	$4.50	110.0%	30.6%	98.8%	21.2%	116.2%	-48.2%	-1.4%	529.4K	-37.7M	-536.3K	0.37	40.85	N/A	N/A	16,080	5,957	786,484	170,264
2025-03-10	$3.08	$4.50	128.9%	43.8%	109.8%	38.8%	148.5%	-21.2%	14.5%	340.9K	-18.0M	-445.9K	0.14	24.87	N/A	N/A	39,657	5,565	758,007	168,604
2025-03-11	$3.19	$4.50	74.2%	39.6%	110.6%	0.0%	135.8%	29.2%	75.9%	415.8K	-23.7M	-471.0K	0.38	34.57	N/A	N/A	27,838	10,554	777,314	170,834
2025-03-12	$3.21	$4.50	116.5%	38.9%	109.3%	40.0%	132.9%	31.4%	14.5%	405.9K	-23.2M	-471.7K	0.15	36.24	N/A	N/A	33,107	4,990	787,962	173,704
2025-03-13	$2.99	$4.50	110.7%	36.5%	109.7%	34.5%	125.5%	-7.2%	10.4%	331.4K	-16.7M	-437.9K	0.12	35.36	N/A	N/A	14,685	1,724	808,779	176,595
2025-03-14	$3.21	$4.00	111.8%	33.6%	114.8%	40.0%	114.9%	2.4%	-4.8%	410.5K	-26.1M	-482.8K	0.09	39.39	N/A	N/A	23,398	2,063	812,566	171,057
2025-03-17	$3.30	$4.00	107.8%	30.8%	115.6%	35.7%	108.7%	6.2%	15.0%	433.3K	-29.1M	-487.6K	0.17	12.18	N/A	N/A	21,919	3,638	790,546	167,198
2025-03-18	$2.98	$4.00	106.5%	31.4%	119.2%	34.3%	110.5%	-1.5%	4.8%	323.2K	-17.6M	-430.4K	0.14	5.60	N/A	N/A	8,745	1,233	795,751	166,279
2025-03-19	$3.31	$4.00	95.4%	28.9%	127.4%	22.5%	100.9%	6.3%	0.7%	490.7K	-30.4M	-487.0K	0.68	16.21	N/A	N/A	30,190	20,475	801,088	161,889
2025-03-20	$3.21	$4.00	101.4%	28.7%	127.1%	28.9%	101.4%	1.4%	14.4%	367.0K	-21.7M	-466.8K	0.07	5.13	N/A	N/A	14,567	1,019	803,019	180,666
2025-03-21	$3.16	$4.00	98.6%	28.5%	124.5%	25.9%	99.7%	5.0%	-0.0%	384.1K	-24.2M	-458.7K	0.15	6.17	N/A	N/A	19,807	2,966	805,958	170,768
2025-03-24	$3.42	$4.00	95.8%	28.1%	128.4%	23.0%	98.8%	-35.3%	-2.7%	485.4K	-35.9M	-503.0K	0.05	16.20	N/A	N/A	29,363	1,335	602,297	155,978
2025-03-25	$3.26	$4.00	73.4%	27.5%	126.9%	0.0%	97.4%	2.1%	-43.3%	446.6K	-29.0M	-465.6K	0.09	4.80	N/A	N/A	14,086	1,319	608,876	156,341
2025-03-26	$2.92	$4.00	99.0%	29.1%	132.1%	29.1%	104.4%	-45.0%	-0.3%	331.3K	-17.4M	-413.0K	0.32	35.63	N/A	N/A	20,670	6,656	612,108	156,933
2025-03-27	$2.96	$4.00	97.2%	28.7%	132.4%	27.3%	101.9%	1.1%	0.4%	347.6K	-17.4M	-414.4K	0.33	25.00	N/A	N/A	23,273	7,617	620,513	155,222
2025-03-28	$2.73	$4.00	96.9%	30.6%	122.2%	26.9%	107.8%	0.8%	-16.9%	283.7K	-11.1M	-379.5K	0.56	23.04	N/A	N/A	16,633	9,390	629,359	159,215
2025-03-31	$2.71	$4.00	110.7%	32.2%	114.1%	44.7%	113.0%	32.9%	27.3%	249.5K	-8.4M	-341.1K	0.74	20.70	N/A	N/A	18,360	13,660	617,334	161,498