WULF Options History — April 2025

In April 2025, WULF traded between $2.19 and $3.04. ATM implied volatility averaged 112.6%, placing in the 48.4% IV rank vs the trailing year. The 30-day expected move averaged 34.8%. IV traded below realized volatility by 15.8% (HV 20d: 128.4%). Max pain ranged from $3.00 to $4.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.30.

Notable Days

2025-04-22: Highest Volume — 56,370 contracts
2025-04-11: Largest IV spike — 25.5% change
2025-04-11: Highest IV Rank — 92.7%
2025-04-08: Largest Expected Move — 40.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$2.61	$2.19	$3.04	$2.87	$2.79
Max Pain	$3.50	$3.00	$4.00	$4.00	$3.00
ATM IV	112.6%	88.2%	148.4%	104.4%	88.4%
Expected Move	34.8%	28.9%	40.8%	32.2%	34.6%
HV 20d	128.4%	102.0%	140.3%	116.7%	134.3%
HV 60d	125.2%	113.4%	135.8%	127.4%	113.4%
IV Rank	48.4%	18.3%	92.7%	37.2%	18.7%
IV Percentile	43.2%	1.2%	98.0%	14.7%	2.0%
Term Structure	1.3%	-53.1%	68.0%	4.1%	-0.7%
VWIV	119.7%	106.7%	140.7%	110.4%	122.5%
Skew 25d	9.9%	-42.1%	237.0%	-14.1%	37.9%
Skew 10d	36.3%	-33.6%	239.0%	5.8%	59.7%
Call IV 25d	109.7%	72.2%	188.7%	72.2%	78.2%
Put IV 25d	119.7%	58.2%	377.1%	58.2%	116.0%
Bid-Ask Spread %	38.44	3.88	58.50	3.88	42.13
Gamma HHI	0.13	0.12	0.16	0.12	0.14
Net GEX	323.1K	161.8K	709.1K	328.9K	380.4K
Net DEX	-20.0M	-45.6M	-3.2M	-16.1M	-33.4M
Net VEX	-409.8K	-506.4K	-322.5K	-411.8K	-462.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.30	0.03	0.97	0.18	0.06
Total Volume	27,789.238	9,604	56,370	27,484	18,581
Total OI	817,063.286	743,584	893,903	790,325	797,770

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
2025-04-01	$2.87	$4.00	104.4%	32.2%	116.7%	37.2%	110.4%	-14.1%	4.1%	328.9K	-16.1M	-411.8K	0.18	3.88	N/A	N/A	23,333	4,151	624,330	165,995
2025-04-02	$2.96	$4.00	103.9%	28.9%	116.1%	36.7%	108.3%	-42.1%	-46.2%	375.9K	-18.9M	-418.8K	0.03	12.73	N/A	N/A	14,538	507	624,674	166,511
2025-04-03	$2.65	$4.00	103.8%	33.9%	117.8%	37.6%	117.5%	-25.7%	15.0%	238.7K	-9.3M	-364.6K	0.18	46.76	N/A	N/A	41,021	7,376	626,490	166,992
2025-04-04	$2.60	$4.00	118.4%	37.4%	113.6%	55.7%	128.0%	-35.9%	37.6%	222.1K	-10.1M	-374.7K	0.48	36.96	N/A	N/A	23,366	11,249	644,019	173,781
2025-04-07	$2.66	$4.00	126.2%	36.1%	102.0%	65.3%	120.5%	-32.1%	-23.7%	305.5K	-17.8M	-430.4K	0.52	46.79	N/A	N/A	21,904	11,469	653,863	171,263
2025-04-08	$2.23	$4.00	132.2%	40.8%	116.9%	72.7%	140.7%	39.0%	10.3%	177.0K	-4.1M	-336.0K	0.97	39.93	N/A	N/A	11,398	11,039	658,442	182,545
2025-04-09	$2.54	$4.00	98.5%	35.7%	128.0%	31.1%	121.9%	17.4%	42.8%	217.1K	-10.6M	-393.5K	0.11	41.39	N/A	N/A	48,330	5,497	659,013	185,628
2025-04-10	$2.19	$4.00	118.2%	38.5%	135.5%	55.4%	128.8%	18.1%	19.9%	161.8K	-3.2M	-322.5K	0.11	52.48	N/A	N/A	24,796	2,657	669,461	185,410
2025-04-11	$2.38	$4.00	148.4%	37.6%	136.6%	92.7%	128.6%	237.0%	-39.6%	246.8K	-9.7M	-378.0K	0.51	29.70	N/A	N/A	12,765	6,493	690,622	186,080
2025-04-14	$2.46	$3.50	120.5%	34.7%	136.8%	58.2%	124.6%	14.0%	-5.9%	285.5K	-12.1M	-382.4K	0.44	40.25	N/A	N/A	10,256	4,542	683,994	178,158
2025-04-15	$2.29	$3.50	116.9%	33.6%	134.7%	53.8%	119.1%	10.0%	4.5%	207.9K	-7.4M	-354.8K	0.44	43.25	N/A	N/A	26,151	11,605	689,294	182,057
2025-04-16	$2.29	$3.50	120.2%	34.5%	127.4%	57.9%	117.6%	17.0%	0.4%	220.7K	-9.4M	-366.6K	0.34	58.50	N/A	N/A	7,147	2,457	703,884	187,904
2025-04-17	$2.33	$3.00	110.1%	32.7%	127.9%	45.3%	116.6%	2.7%	-53.1%	211.6K	-9.1M	-359.6K	0.64	51.20	N/A	N/A	12,240	7,790	705,469	188,434
2025-04-21	$2.26	$3.00	103.2%	40.6%	128.0%	36.9%	125.3%	-16.6%	68.0%	205.7K	-13.8M	-365.8K	0.34	52.70	N/A	N/A	14,021	4,772	569,487	174,097
2025-04-22	$2.65	$3.00	122.0%	34.4%	138.7%	60.2%	117.2%	18.3%	-4.5%	280.8K	-26.4M	-414.2K	0.05	6.74	N/A	N/A	53,699	2,671	574,130	171,352
2025-04-23	$2.81	$3.00	112.1%	31.8%	140.3%	47.8%	109.1%	-20.7%	-2.3%	402.5K	-36.1M	-471.7K	0.10	52.58	N/A	N/A	22,741	2,171	601,927	172,027
2025-04-24	$3.04	$3.00	107.0%	32.0%	137.9%	41.5%	106.7%	-36.8%	-2.1%	550.2K	-45.6M	-506.4K	0.05	42.75	N/A	N/A	39,738	2,095	605,891	172,662
2025-04-25	$2.99	$3.00	112.0%	32.7%	138.0%	47.8%	112.8%	9.4%	-6.4%	709.1K	-44.2M	-501.9K	0.19	42.96	N/A	N/A	21,551	4,154	617,673	173,187
2025-04-28	$2.98	$3.00	109.5%	34.8%	134.6%	44.7%	119.2%	6.7%	10.0%	543.6K	-43.0M	-489.8K	0.38	26.18	N/A	N/A	14,954	5,642	611,352	170,500
2025-04-29	$2.90	$3.00	88.2%	33.7%	135.1%	18.3%	118.9%	4.7%	0.1%	512.1K	-40.3M	-500.8K	0.27	37.42	N/A	N/A	10,017	2,690	616,663	175,298
2025-04-30	$2.79	$3.00	88.4%	34.6%	134.3%	18.7%	122.5%	37.9%	-0.7%	380.4K	-33.4M	-462.1K	0.06	42.13	N/A	N/A	17,612	969	619,999	177,771