EWP Options History — November 2025

In November 2025, EWP traded between $49.45 and $52.53. ATM implied volatility averaged 23.7%, placing in the 34.8% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 10.0% (HV 20d: 13.8%). Max pain ranged from $48.00 to $59.00. Net GEX was positive for 0 of 19 trading days. Term structure was in contango for 5 of 19 days. Put/call ratio averaged 64.29.

Notable Days

  • 2025-11-25: Highest Volume — 740 contracts
  • 2025-11-13: Largest IV spike — 79.3% change
  • 2025-11-20: Highest IV Rank — 56.5%
  • 2025-11-20: Largest Expected Move — 9.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$50.79$49.45$52.53$50.13$51.63
Max Pain$57.32$48.00$59.00$48.00$59.00
ATM IV23.7%12.9%33.0%27.4%22.9%
Expected Move6.9%3.7%9.5%7.9%6.6%
HV 20d13.8%11.0%16.9%11.8%16.7%
HV 60d13.0%12.5%13.5%12.5%13.3%
IV Rank34.8%9.2%56.5%43.4%32.7%
IV Percentile77.3%11.1%93.7%90.5%82.9%
Term Structure-4.1%-21.0%8.5%-3.0%-0.1%
VWIV23.1%16.0%33.6%24.0%22.6%
Skew 25d2.7%-14.9%16.9%-6.7%-4.5%
Skew 10d4.7%-16.7%35.6%-13.4%10.6%
Call IV 25d21.2%14.1%29.2%21.8%24.6%
Put IV 25d23.9%12.7%38.7%15.1%20.1%
Bid-Ask Spread %131.66116.06142.89122.47135.13
Gamma HHI0.190.150.310.150.18
Net GEX-410.3K-535.2K-315.8K-329.8K-438.9K
Net DEX6.9M4.6M9.0M6.2M7.0M
Net VEX-26.2K-31.4K-20.1K-20.1K-31.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio64.292.25445.0087.0068.86
Total Volume333102740352309
Total OI4,368.1053,8034,8023,8034,493

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$50.13$48.0027.4%7.9%11.8%43.4%0.0%-6.7%-3.0%-329.8K6.2M-20.1K87.00122.47N/AN/A43486743,129
2025-11-04$49.78$48.0022.4%6.4%11.6%31.7%24.0%-14.9%-2.4%-385.0K7.1M-21.9K26.32116.06N/AN/A225796723,258
2025-11-05$50.42$49.0025.3%7.2%12.0%38.4%19.0%-10.6%1.2%-373.9K6.4M-23.4K292.00116.40N/AN/A12926823,439
2025-11-06$50.72$59.0016.3%6.1%11.4%17.4%0.0%-1.1%-3.9%-315.8K6.2M-24.6K83.75132.81N/AN/A43356833,531
2025-11-07$50.50$59.0024.2%7.5%11.0%35.9%0.0%1.5%-1.8%-367.7K6.2M-26.6K2.98139.37N/AN/A1163466843,583
2025-11-10$51.27$59.0014.3%5.3%11.8%12.6%16.0%0.1%4.2%-344.3K6.2M-25.0K58.00130.98N/AN/A52906933,670
2025-11-11$51.84$59.0018.7%4.5%12.1%22.9%22.6%3.2%-7.4%-368.3K5.6M-25.6K5.56126.78N/AN/A321786913,683
2025-11-12$52.53$59.0012.9%3.7%12.4%9.2%16.4%-3.1%8.5%-409.6K5.1M-25.9K2.64133.10N/AN/A471246943,726
2025-11-13$52.25$59.0023.1%6.6%12.6%33.2%0.0%0.8%-12.5%-412.8K4.6M-28.9K13.57132.53N/AN/A7956943,777
2025-11-14$51.66$59.0028.3%8.1%13.6%45.5%33.6%2.4%-21.0%-409.1K5.6M-29.6K2.61128.32N/AN/A621626923,799
2025-11-17$50.76$59.0029.3%8.4%15.0%47.8%23.4%10.6%-16.4%-422.1K7.2M-25.9K8.88126.49N/AN/A171517153,826
2025-11-18$50.03$59.0025.2%7.2%15.2%38.3%30.9%16.9%1.7%-436.3K8.2M-24.9K18.50132.40N/AN/A122227243,858
2025-11-19$49.91$59.0023.4%6.7%15.2%34.0%16.0%14.5%6.3%-461.5K8.3M-27.9K8.56142.16N/AN/A252147253,944
2025-11-20$49.45$59.0033.0%9.5%15.5%56.5%27.2%3.6%-5.8%-487.1K8.7M-27.0K11.70135.31N/AN/A202347344,002
2025-11-21$49.74$59.0027.4%7.8%15.6%43.3%27.7%12.8%-5.9%-365.5K8.5M-28.3K18.95139.03N/AN/A203797354,067
2025-11-24$50.00$59.0026.4%7.6%15.2%41.0%0.0%14.5%-9.9%-506.9K9.0M-22.7K445.00131.52N/AN/A14456543,477
2025-11-25$50.83$59.0030.0%8.6%16.0%49.5%21.2%11.3%-7.2%-535.2K7.7M-27.4K2.25142.89N/AN/A2285126543,507
2025-11-26$51.63$59.0020.6%5.9%16.9%27.4%22.6%0.1%-2.9%-426.1K7.1M-30.3K68.86137.79N/AN/A74827533,672
2025-11-28$51.63$59.0022.9%6.6%16.7%32.7%0.0%-4.5%-0.1%-438.9K7.0M-31.4K0.00135.13N/AN/A03097573,736