DIA Options History — December 2025

In December 2025, DIA traded between $474.09 and $487.84. ATM implied volatility averaged 12.0%, placing in the 4.6% IV rank vs the trailing year. The 30-day expected move averaged 3.5%. IV traded above realized volatility by 0.3% (HV 20d: 11.7%). Max pain ranged from $450.00 to $460.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 2.03.

Notable Days

  • 2025-12-18: Highest Volume — 160,771 contracts
  • 2025-12-17: Largest IV spike — 10.9% change
  • 2025-12-01: Highest IV Rank — 8.8%
  • 2025-12-01: Largest Expected Move — 4.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$481.88$474.09$487.84$474.09$481.38
Max Pain$455.45$450.00$460.00$450.00$460.00
ATM IV12.0%10.4%13.2%13.2%12.0%
Expected Move3.5%2.8%4.2%4.2%3.5%
HV 20d11.7%8.6%14.4%14.4%8.8%
HV 60d11.3%10.9%11.5%11.2%11.5%
IV Rank4.6%0.0%8.8%8.8%5.1%
IV Percentile18.6%0.0%41.3%41.3%19.4%
Term Structure0.2%-1.0%0.8%-1.0%-0.1%
VWIV13.1%10.5%17.1%17.1%11.7%
Skew 25d3.2%2.5%5.1%5.1%3.2%
Skew 10d7.3%4.6%9.7%4.6%8.5%
Call IV 25d10.7%9.5%11.9%10.1%10.5%
Put IV 25d13.9%12.1%15.3%15.2%13.7%
Bid-Ask Spread %13.843.2834.3114.0634.31
Gamma HHI0.060.030.320.030.04
Net GEX178.8M-404.6K570.6M109.1M-404.6K
Net DEX-2.29B-3.67B-1.12B-1.92B-1.12B
Net VEX-27.7M-28.6M-26.7M-28.5M-28.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.030.343.422.462.45
Total Volume60,654.90935,306160,77142,49835,867
Total OI538,199.182492,167592,725519,211523,397

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$474.09$450.0013.2%4.2%14.4%8.8%17.1%5.1%-1.0%109.1M-1.92B-28.5M2.4614.0612,28030,218180,713338,498
2025-12-02$476.17$450.0013.1%4.0%14.2%8.4%15.0%3.3%-0.1%200.5M-2.21B-28.6M1.493.3617,68426,262185,442342,854
2025-12-03$479.94$450.0012.5%3.8%14.3%6.4%15.7%2.9%0.4%309.2M-2.88B-28.3M2.323.2819,78445,839188,128348,223
2025-12-04$478.33$450.0012.5%3.7%14.3%6.4%13.4%3.0%0.3%227.4M-2.61B-28.2M1.369.1322,22230,316189,710353,648
2025-12-05$480.01$450.0011.9%3.6%13.8%4.4%12.7%2.8%0.4%570.6M-2.94B-27.6M1.807.4423,10141,479199,726361,007
2025-12-08$477.72$450.0013.0%3.8%14.0%8.0%13.2%3.3%0.0%73.0M-2.06B-28.0M2.338.3313,24930,923177,249349,144
2025-12-09$476.69$450.0013.1%3.9%13.6%8.2%14.2%3.1%0.6%62.9M-1.96B-28.1M2.867.5512,51735,800181,098353,277
2025-12-10$482.36$450.0012.3%3.7%13.6%5.6%13.8%3.0%0.7%202.7M-2.86B-27.8M1.969.2619,79838,778184,748357,151
2025-12-11$487.84$450.0011.8%3.4%13.9%3.3%12.9%3.1%0.3%387.3M-3.67B-27.1M1.647.1441,54267,958185,364362,233
2025-12-12$485.21$455.0012.1%3.6%12.4%4.5%12.9%3.3%0.5%56.3M-3.00B-27.1M2.438.8528,52369,395197,691380,224
2025-12-15$485.17$455.0012.3%3.6%12.1%5.2%13.0%3.3%-0.0%106.7M-2.85B-27.0M3.427.0614,39649,174184,070369,515
2025-12-16$482.57$460.0011.8%3.4%11.1%3.6%13.4%3.5%0.3%39.4M-2.32B-28.3M2.737.6017,08246,640188,942379,454
2025-12-17$480.22$460.0013.1%3.8%10.8%7.8%13.4%3.7%-0.2%4.9M-2.02B-28.5M1.407.4224,41434,179192,711383,262
2025-12-18$481.68$460.0012.3%3.6%10.7%5.2%14.4%3.5%-0.3%110.4M-2.41B-28.3M0.3410.21119,84740,924201,014391,711
2025-12-19$481.02$460.0011.4%3.3%10.3%2.1%12.4%3.9%-0.1%155.5M-1.19B-27.7M1.894.9419,02036,032187,628396,907
2025-12-22$483.50$460.0010.9%3.1%9.9%0.5%13.1%2.9%0.7%177.2M-1.82B-27.1M2.0120.5714,25028,573168,347323,846
2025-12-23$484.37$460.0010.7%3.0%9.9%0.0%10.6%3.0%0.7%224.3M-2.02B-27.0M2.0223.8115,28230,904173,704329,097
2025-12-24$487.26$460.0010.4%3.0%9.0%0.0%10.7%2.7%0.8%395.4M-2.54B-27.0M1.0725.1017,04418,262178,454334,685
2025-12-26$486.81$460.0010.8%2.8%8.7%1.2%11.9%2.5%0.8%310.8M-2.46B-26.7M2.2633.2814,73133,268179,373339,657
2025-12-29$485.02$460.0011.4%3.1%8.8%3.0%11.5%2.8%-0.0%109.7M-1.82B-26.8M2.8522.2812,38835,338161,579330,588
2025-12-30$483.94$460.0011.4%2.9%8.6%3.2%10.5%3.0%-0.7%100.0M-1.71B-26.8M1.6129.4918,80930,316167,165339,148
2025-12-31$481.38$460.0012.0%3.5%8.8%5.1%11.7%3.2%-0.1%-404.6K-1.12B-28.0M2.4534.3110,40125,466175,872347,525