HYD Options History — December 2025

In December 2025, HYD traded between $50.83 and $51.27. ATM implied volatility averaged 6.1%, placing in the 9.2% IV rank vs the trailing year. The 30-day expected move averaged 1.8%. IV traded above realized volatility by 3.1% (HV 20d: 3.0%). Max pain ranged from $50.00 to $52.00. Net GEX was positive for 16 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 11.96.

Notable Days

  • 2025-12-02: Highest Volume — 543 contracts
  • 2025-12-22: Largest IV spike — 240.7% change
  • 2025-12-22: Highest IV Rank — 46.6%
  • 2025-12-22: Largest Expected Move — 5.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$51.03$50.83$51.27$50.95$51.13
Max Pain$51.00$50.00$52.00$52.00$51.00
ATM IV6.1%3.2%17.6%5.9%5.1%
Expected Move1.8%0.9%5.0%1.7%1.5%
HV 20d3.0%1.8%4.2%4.2%1.8%
HV 60d3.0%2.9%3.4%3.4%2.9%
IV Rank9.2%0.0%46.6%8.6%6.2%
IV Percentile18.9%0.0%98.8%16.3%6.7%
Term Structure1.3%-7.0%12.9%-0.1%1.3%
VWIV6.8%5.0%12.9%5.8%5.0%
Skew 25d1.2%-9.8%5.2%0.3%0.5%
Skew 10d2.1%-7.5%8.3%0.4%0.7%
Call IV 25d5.0%3.0%16.0%5.0%4.8%
Put IV 25d6.2%3.7%8.7%5.4%5.3%
Bid-Ask Spread %35.1214.84104.4714.8727.71
Gamma HHI0.450.280.760.400.48
Net GEX-144.3K-3.8M1.5M395.0K-968.4K
Net DEX962.2K-744.5K5.9M404.2K-364.7K
Net VEX-17.2K-35.5K-11.0K-13.6K-15.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio11.960.00107.603.7514.00
Total Volume97.5450543375225
Total OI5,032.2272,7728,0792,7727,262

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$50.95$52.005.9%1.7%4.2%8.6%5.8%0.3%-0.1%395.0K404.2K-13.6K3.7514.87792961,5211,251
2025-12-02$50.83$51.005.5%1.6%3.7%7.0%8.6%-0.1%0.1%415.8K1.0M-14.8K107.6015.0555381,5831,367
2025-12-03$50.86$51.005.4%1.6%3.7%6.9%5.4%2.2%0.1%310.8K2.1M-17.6K2.0017.728161,5781,656
2025-12-04$50.89$50.005.6%1.5%3.4%7.6%6.6%2.6%1.0%309.0K2.1M-17.0K54.0023.4621081,5781,662
2025-12-05$50.88$51.005.5%3.7%3.4%7.2%6.8%-1.6%-3.5%278.1K659.7K-16.9K4.3047.8810431,5791,409
2025-12-08$50.91$51.007.2%3.0%3.4%12.7%6.7%4.3%2.0%246.9K777.0K-17.1K3.6056.7310361,5891,427
2025-12-09$50.91$51.009.2%1.7%3.4%19.1%0.0%2.4%0.5%208.6K784.4K-16.5K0.0061.09901,5991,463
2025-12-10$50.95$51.005.4%1.6%3.2%6.8%0.0%-9.8%1.3%350.6K635.0K-16.7K0.1089.891011,6011,463
2025-12-11$51.05$51.005.0%1.4%3.3%5.5%0.0%2.1%1.0%337.8K300.3K-15.4K0.0062.61001,5911,464
2025-12-12$50.97$51.005.6%1.6%3.3%7.3%6.1%2.1%0.6%268.2K666.3K-15.7K9.0021.42191,5911,464
2025-12-15$50.98$51.006.2%1.8%3.1%9.4%0.0%2.6%12.9%478.0K393.4K-14.7K0.0034.26001,5901,465
2025-12-16$51.06$51.005.5%1.6%3.0%7.1%5.5%2.2%0.5%263.4K367.0K-14.8K0.0014.84301,5901,465
2025-12-17$51.02$51.008.0%2.3%2.9%15.1%8.3%5.2%-1.7%-2.1M5.3M-32.2K0.0026.59061,5886,419
2025-12-18$51.08$51.005.2%1.5%2.9%6.3%5.2%4.3%0.4%459.3K374.0K-11.0K0.0029.4524911,5886,419
2025-12-19$51.13$51.005.2%1.5%2.9%6.0%5.2%2.6%0.8%-3.8M2.1M-23.0K0.0520.1014771,6596,420
2025-12-22$51.20$51.0017.6%5.0%2.9%46.6%12.9%0.3%-7.0%-2.0M5.9M-35.5K0.33104.47171561,2595,620
2025-12-23$51.27$51.004.5%1.3%2.7%4.0%0.0%4.7%11.8%714.1K-628.3K-13.5K10.0024.761101,4295,676
2025-12-24$51.27$51.003.4%1.0%2.7%0.2%0.0%-0.0%2.5%1.3M-744.5K-13.5K0.0027.916201,4295,678
2025-12-26$51.23$51.003.2%0.9%2.6%0.0%0.0%-0.1%2.7%1.5M-697.6K-13.5K0.0915.681111,5455,678
2025-12-29$51.08$51.004.9%1.4%2.3%5.5%5.0%0.3%0.6%-1.6M119.3K-15.2K6.5017.452131,5555,677
2025-12-30$51.11$51.005.3%1.5%2.1%6.8%0.0%0.3%-0.1%-506.6K-337.1K-14.0K0.0018.67001,5765,686
2025-12-31$51.13$51.005.1%1.5%1.8%6.2%0.0%0.5%1.3%-968.4K-364.7K-15.4K14.0027.71152101,5765,686