DUG Options History — November 2025

In November 2025, DUG traded between $31.49 and $34.98. ATM implied volatility averaged 46.9%, placing in the 19.5% IV rank vs the trailing year. The 30-day expected move averaged 13.0%. IV traded above realized volatility by 14.6% (HV 20d: 32.4%). Max pain ranged from $32.00 to $45.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.04.

Notable Days

2025-11-04: Highest Volume — 44 contracts
2025-11-10: Largest IV spike — 79.9% change
2025-11-06: Highest IV Rank — 28.7%
2025-11-05: Largest Expected Move — 17.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$33.19	$31.49	$34.98	$34.34	$32.61
Max Pain	$41.74	$32.00	$45.00	$32.00	$32.00
ATM IV	46.9%	32.3%	60.6%	54.4%	32.3%
Expected Move	13.0%	9.3%	17.3%	15.6%	9.3%
HV 20d	32.4%	28.6%	35.1%	34.3%	32.9%
HV 60d	34.4%	33.4%	35.4%	33.4%	34.1%
IV Rank	19.5%	9.7%	28.7%	24.5%	9.7%
IV Percentile	59.3%	17.9%	86.5%	78.6%	17.9%
Term Structure	-0.9%	-17.0%	11.7%	-3.6%	11.7%
VWIV	40.2%	37.1%	42.3%	40.6%	37.1%
Skew 25d	-1.4%	-10.9%	10.5%	0.2%	3.8%
Skew 10d	-0.9%	-18.0%	25.1%	-1.3%	-10.3%
Call IV 25d	48.4%	27.5%	64.0%	57.7%	39.0%
Put IV 25d	47.0%	35.8%	57.8%	57.8%	42.9%
Bid-Ask Spread %	120.27	91.53	131.19	129.28	114.36
Gamma HHI	0.19	0.14	0.24	0.21	0.23
Net GEX	5.3K	1.7K	9.5K	6.0K	4.6K
Net DEX	-90.4K	-158.6K	-36.8K	-103.7K	-79.5K
Net VEX	-695	-1.1K	-504	-690	-513
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.04	0.00	0.20	0.00	0.00
Total Volume	7.895	0	44	1	1
Total OI	442.211	374	464	374	456

Daily Data (19 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
2025-11-03	$34.34	$32.00	54.4%	15.6%	34.3%	24.5%	40.6%	0.2%	-3.6%	6.0K	-103.7K	-690	0.00	129.28	N/A	N/A	0	1	351	23
2025-11-04	$34.98	$32.00	42.6%	12.2%	34.8%	16.6%	0.0%	5.0%	2.5%	8.8K	-152.9K	-971	0.00	113.86	N/A	N/A	44	0	351	24
2025-11-05	$34.61	$32.00	60.3%	17.3%	35.1%	28.5%	42.3%	-10.9%	-16.7%	9.5K	-158.6K	-1.1K	0.03	124.68	N/A	N/A	30	1	395	24
2025-11-06	$33.97	$45.00	60.6%	12.1%	34.7%	28.7%	0.0%	1.0%	9.3%	9.3K	-141.7K	-1.1K	0.17	130.87	N/A	N/A	6	1	425	25
2025-11-07	$33.28	$45.00	33.6%	11.7%	28.8%	10.5%	0.0%	-4.6%	-7.5%	7.8K	-123.5K	-1.0K	0.00	91.53	N/A	N/A	12	0	431	26
2025-11-10	$32.70	$45.00	60.4%	12.8%	28.6%	28.5%	0.0%	-10.8%	1.2%	3.5K	-60.0K	-556	0.00	128.12	N/A	N/A	0	3	419	26
2025-11-11	$31.81	$45.00	50.6%	13.7%	29.6%	22.0%	0.0%	0.1%	-9.0%	2.0K	-36.8K	-564	0.00	128.89	N/A	N/A	0	0	419	29
2025-11-12	$32.67	$45.00	47.8%	13.7%	31.8%	20.1%	0.0%	8.3%	-2.9%	4.5K	-66.4K	-675	0.00	130.27	N/A	N/A	0	0	419	29
2025-11-13	$32.64	$45.00	44.8%	12.8%	29.2%	18.1%	0.0%	-5.8%	-2.7%	4.1K	-59.1K	-608	0.00	125.53	N/A	N/A	0	0	419	29
2025-11-14	$31.49	$45.00	49.5%	14.2%	30.7%	21.3%	0.0%	4.7%	0.0%	3.1K	-51.9K	-617	0.00	124.67	N/A	N/A	0	2	419	29
2025-11-17	$32.66	$45.00	46.4%	13.3%	33.7%	19.2%	0.0%	-1.3%	-0.3%	1.7K	-67.4K	-647	0.20	131.19	N/A	N/A	10	2	419	31
2025-11-18	$32.17	$45.00	48.0%	13.8%	33.8%	20.2%	0.0%	-7.1%	-6.7%	2.9K	-58.9K	-641	0.00	130.09	N/A	N/A	10	0	429	33
2025-11-19	$32.98	$45.00	47.9%	13.7%	34.0%	20.1%	0.0%	-0.4%	-0.3%	2.5K	-55.5K	-504	0.00	117.50	N/A	N/A	0	0	429	33
2025-11-20	$33.64	$45.00	46.1%	13.2%	33.5%	19.0%	0.0%	10.5%	-17.0%	3.6K	-63.8K	-542	0.00	111.42	N/A	N/A	15	0	429	33
2025-11-21	$33.30	$45.00	51.4%	14.7%	32.3%	22.5%	0.0%	-9.3%	1.5%	5.9K	-100.3K	-559	0.00	121.56	N/A	N/A	0	0	431	33
2025-11-24	$33.52	$45.00	39.6%	11.4%	32.4%	14.6%	0.0%	-1.4%	10.6%	8.2K	-134.2K	-782	0.00	123.02	N/A	N/A	0	0	430	14
2025-11-25	$33.91	$45.00	40.9%	11.7%	32.0%	15.5%	40.8%	-3.3%	2.7%	6.5K	-106.0K	-571	0.00	98.45	N/A	N/A	2	0	430	14
2025-11-26	$33.24	$35.00	34.3%	9.8%	32.4%	11.1%	37.1%	-5.4%	9.4%	6.4K	-97.0K	-533	0.00	109.87	N/A	N/A	0	10	432	14
2025-11-28	$32.61	$32.00	32.3%	9.3%	32.9%	9.7%	0.0%	3.8%	11.7%	4.6K	-79.5K	-513	0.00	114.36	N/A	N/A	1	0	432	24