WULF Options History — May 2025

In May 2025, WULF traded between $3.00 and $4.11. ATM implied volatility averaged 102.7%, placing in the 34.8% IV rank vs the trailing year. The 30-day expected move averaged 28.5%. IV traded below realized volatility by 19.4% (HV 20d: 122.0%). Max pain ranged from $3.00 to $3.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.25.

Notable Days

2025-05-12: Highest Volume — 97,394 contracts
2025-05-13: Largest IV spike — 64.3% change
2025-05-13: Highest IV Rank — 100.0%
2025-05-02: Largest Expected Move — 32.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.58	$3.00	$4.11	$3.26	$3.54
Max Pain	$3.12	$3.00	$3.50	$3.00	$3.50
ATM IV	102.7%	82.3%	159.8%	101.1%	96.6%
Expected Move	28.5%	26.2%	32.0%	31.6%	28.8%
HV 20d	122.0%	101.8%	145.1%	145.1%	101.8%
HV 60d	123.4%	118.2%	128.7%	118.2%	120.8%
IV Rank	34.8%	10.4%	100.0%	34.3%	26.9%
IV Percentile	18.6%	0.8%	100.0%	9.5%	6.0%
Term Structure	0.3%	-54.6%	57.3%	4.8%	1.9%
VWIV	100.0%	88.8%	111.4%	110.8%	94.4%
Skew 25d	-5.7%	-54.9%	53.2%	9.4%	-0.4%
Skew 10d	35.5%	-37.1%	289.7%	63.0%	-37.1%
Call IV 25d	101.3%	91.1%	121.7%	108.0%	91.1%
Put IV 25d	95.6%	53.9%	147.3%	117.4%	90.7%
Bid-Ask Spread %	25.42	7.25	51.24	37.90	34.32
Gamma HHI	0.18	0.13	0.38	0.14	0.13
Net GEX	866.7K	434.8K	1.8M	570.8K	449.9K
Net DEX	-65.2M	-93.5M	-38.3M	-56.7M	-52.7M
Net VEX	-573.9K	-655.0K	-488.7K	-546.8K	-551.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.25	0.06	1.15	0.38	0.31
Total Volume	48,077.19	17,396	97,394	58,773	21,329
Total OI	813,727.048	739,463	888,605	802,009	813,197

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
2025-05-01	$3.26	$3.00	101.1%	31.6%	145.1%	34.3%	110.8%	9.4%	4.8%	570.8K	-56.7M	-546.8K	0.38	37.90	N/A	N/A	42,732	16,041	624,029	177,980
2025-05-02	$3.23	$3.00	99.9%	32.0%	138.7%	32.7%	111.4%	19.2%	0.5%	570.5K	-53.2M	-534.4K	0.06	26.08	N/A	N/A	27,871	1,669	634,081	191,962
2025-05-05	$3.00	$3.00	109.9%	30.8%	141.6%	45.2%	108.6%	4.9%	3.0%	485.9K	-40.5M	-488.7K	0.16	33.89	N/A	N/A	15,740	2,545	615,317	187,725
2025-05-06	$3.12	$3.00	112.2%	30.5%	142.0%	48.0%	109.4%	4.3%	-54.6%	581.3K	-46.8M	-517.8K	0.25	8.90	N/A	N/A	13,936	3,460	621,444	188,742
2025-05-07	$3.04	$3.00	109.9%	29.8%	125.1%	45.1%	105.0%	53.2%	2.0%	534.3K	-41.8M	-499.7K	1.15	34.53	N/A	N/A	9,693	11,117	624,856	191,245
2025-05-08	$3.31	$3.00	107.1%	29.7%	120.6%	41.7%	106.1%	0.2%	-0.7%	718.7K	-55.7M	-541.2K	0.09	29.09	N/A	N/A	54,626	5,109	627,623	198,671
2025-05-09	$3.00	$3.00	85.2%	28.2%	112.7%	14.6%	99.7%	-5.8%	-3.5%	434.8K	-38.3M	-492.7K	0.23	7.25	N/A	N/A	53,945	12,277	639,376	202,393
2025-05-12	$3.49	$3.00	97.2%	27.3%	120.5%	29.5%	95.9%	-43.8%	-2.2%	845.1K	-63.3M	-571.9K	0.26	43.58	N/A	N/A	77,417	19,977	636,388	199,540
2025-05-13	$3.83	$3.00	159.8%	26.9%	123.2%	100.0%	95.0%	-54.9%	-4.8%	1.1M	-83.5M	-602.1K	0.13	51.24	N/A	N/A	83,274	10,849	637,401	205,580
2025-05-14	$3.66	$3.00	99.0%	28.0%	120.9%	29.6%	97.9%	-34.2%	-2.0%	1.1M	-70.3M	-581.2K	0.13	10.97	N/A	N/A	47,861	6,368	649,528	209,753
2025-05-15	$3.50	$3.00	96.2%	27.4%	123.1%	26.4%	95.5%	-43.3%	0.7%	1.1M	-60.5M	-556.9K	0.14	10.25	N/A	N/A	42,579	6,082	667,687	213,083
2025-05-16	$3.85	$3.00	82.3%	27.4%	125.8%	10.4%	96.7%	-3.7%	-1.7%	934.6K	-83.7M	-611.5K	0.24	22.59	N/A	N/A	46,173	11,005	675,643	212,962
2025-05-19	$3.98	$3.00	95.2%	27.8%	124.1%	25.3%	99.5%	-2.2%	-1.0%	1.1M	-83.7M	-632.4K	0.21	12.15	N/A	N/A	71,676	15,316	549,200	190,263
2025-05-20	$3.91	$3.00	97.0%	27.6%	114.9%	27.4%	97.8%	-1.9%	57.3%	1.1M	-79.9M	-626.1K	0.21	16.49	N/A	N/A	25,104	5,321	566,421	202,604
2025-05-21	$3.91	$3.00	97.4%	27.9%	114.2%	27.8%	97.5%	2.0%	-1.7%	1.1M	-78.2M	-615.3K	0.41	10.50	N/A	N/A	42,983	17,826	568,263	204,856
2025-05-22	$4.11	$3.00	96.8%	27.9%	112.5%	27.2%	88.8%	-5.9%	-5.3%	1.3M	-93.5M	-655.0K	0.19	18.68	N/A	N/A	43,157	8,043	574,674	215,001
2025-05-23	$3.96	$3.50	99.5%	28.4%	113.5%	30.2%	99.8%	0.2%	0.2%	1.8M	-80.8M	-639.4K	0.32	29.17	N/A	N/A	34,244	11,071	585,499	220,983
2025-05-27	$3.94	$3.50	98.7%	27.8%	113.6%	29.3%	97.8%	-1.1%	-1.7%	853.1K	-76.3M	-621.2K	0.09	28.94	N/A	N/A	22,433	1,951	561,132	218,142
2025-05-28	$3.80	$3.50	104.5%	26.2%	114.0%	36.0%	94.2%	-10.2%	-1.3%	791.4K	-68.7M	-593.6K	0.09	38.41	N/A	N/A	28,706	2,683	566,316	219,675
2025-05-29	$3.65	$3.50	110.3%	26.7%	114.1%	42.8%	98.7%	-5.2%	17.4%	697.8K	-61.3M	-572.1K	0.09	28.85	N/A	N/A	32,409	3,023	577,144	221,889
2025-05-30	$3.54	$3.50	96.6%	28.8%	101.8%	26.9%	94.4%	-0.4%	1.9%	449.9K	-52.7M	-551.8K	0.31	34.32	N/A	N/A	16,263	5,066	589,102	224,095