IGV Options History — December 2025

In December 2025, IGV traded between $104.05 and $110.38. ATM implied volatility averaged 21.4%, placing in the 13.5% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 1.8% (HV 20d: 19.7%). Max pain ranged from $105.00 to $110.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 21 of 22 days. Put/call ratio averaged 3.57.

Notable Days

  • 2025-12-18: Highest Volume — 10,422 contracts
  • 2025-12-05: Largest IV drop — 10.8% change
  • 2025-12-01: Highest IV Rank — 22.2%
  • 2025-12-01: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$107.53$104.05$110.38$104.05$105.88
Max Pain$106.32$105.00$110.00$110.00$107.00
ATM IV21.4%18.6%25.3%25.3%19.0%
Expected Move6.2%5.3%7.2%7.2%5.5%
HV 20d19.7%16.5%24.0%23.2%17.0%
HV 60d20.0%19.8%20.3%20.1%20.1%
IV Rank13.5%5.8%22.2%22.2%5.8%
IV Percentile24.4%1.6%66.3%66.3%1.6%
Term Structure1.6%-1.2%4.0%-1.2%2.1%
VWIV22.5%17.5%25.9%24.7%21.2%
Skew 25d3.1%1.5%7.7%2.5%1.5%
Skew 10d4.2%-6.5%13.0%10.6%1.7%
Call IV 25d20.7%16.7%25.5%25.5%19.6%
Put IV 25d23.8%20.4%28.1%28.1%21.0%
Bid-Ask Spread %78.7769.9286.9576.8186.95
Gamma HHI0.110.090.160.160.11
Net GEX-5.7M-10.9M-1.5M-7.2M-6.7M
Net DEX19.0M-37.0M90.6M90.6M33.8M
Net VEX-743.9K-902.8K-622.6K-822.0K-622.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio3.570.0217.711.797.39
Total Volume2,464.59117510,4221,8051,854
Total OI70,432.81865,56277,21567,89871,700

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$104.05$110.0025.3%7.2%23.2%22.2%24.7%2.5%-1.2%-7.2M90.6M-822.0K1.7976.816461,15931,85036,048
2025-12-02$105.41$110.0024.7%7.1%24.0%21.1%25.9%1.9%0.3%-6.8M65.1M-889.1K0.7179.421,8101,27732,02037,039
2025-12-03$106.56$110.0023.1%6.6%22.4%17.3%23.0%2.2%0.7%-5.6M50.7M-902.8K17.7177.632644,67533,87036,925
2025-12-04$107.84$105.0024.0%6.8%23.0%19.5%24.1%3.4%2.1%-2.8M2.4M-824.4K0.0274.502,4065233,95132,548
2025-12-05$109.35$105.0021.4%6.7%22.4%13.7%23.6%2.9%0.5%-2.0M-18.4M-796.9K0.2276.1147710533,03232,530
2025-12-08$109.25$105.0022.8%6.8%22.4%16.8%23.1%1.9%0.5%-1.5M-37.0M-820.3K2.3173.098992,07933,13532,597
2025-12-09$109.98$105.0023.5%6.6%21.1%18.4%25.4%3.5%2.1%-3.0M-27.1M-818.0K4.8169.926333,04333,24334,567
2025-12-10$110.38$105.0022.5%6.5%21.0%16.2%22.5%7.7%1.3%-3.9M-24.8M-760.9K1.3380.198281,09833,62435,563
2025-12-11$109.79$105.0021.4%6.1%20.7%13.7%22.1%3.5%1.6%-5.6M-16.0M-778.5K2.2574.718101,82034,14236,364
2025-12-12$108.14$105.0021.5%6.2%19.0%13.9%25.4%4.1%0.8%-7.6M-5.1M-840.7K4.0274.725362,15634,30736,452
2025-12-15$105.63$105.0021.2%6.1%20.7%13.2%21.9%1.8%4.0%-10.1M65.7M-675.0K1.1879.5582497534,50237,143
2025-12-16$106.35$105.0021.7%6.2%19.0%14.3%22.7%5.9%2.4%-10.9M64.1M-678.9K2.4681.268262,02834,52937,012
2025-12-17$105.03$105.0022.1%6.3%19.5%15.1%23.6%3.5%1.6%-10.1M83.1M-700.6K4.0178.693371,35135,08438,855
2025-12-18$106.44$105.0021.7%6.2%19.8%14.3%25.2%3.0%1.9%-10.0M65.6M-689.5K16.5778.195939,82935,26638,638
2025-12-19$107.81$105.0019.6%5.6%16.5%9.6%20.1%2.8%1.7%-9.7M10.1M-759.6K0.7478.8766549135,67841,537
2025-12-22$108.84$107.0019.2%5.5%16.6%8.7%20.2%2.3%1.7%-2.2M-9.4M-681.6K1.5678.2039361534,16935,709
2025-12-23$108.11$107.0019.2%5.5%16.8%8.8%20.1%3.5%1.5%-2.8M870.4K-700.9K6.0680.562931,77734,37036,045
2025-12-24$108.25$107.0019.2%5.5%16.7%8.9%24.4%1.9%2.8%-3.4M1.2M-687.7K2.1682.9225555234,39936,870
2025-12-26$108.03$107.0018.6%5.3%16.7%7.5%19.6%2.2%2.7%-3.4M-3.9M-653.0K0.0983.031611434,39836,913
2025-12-29$107.42$107.0019.9%5.7%16.9%10.4%17.5%2.8%1.7%-4.8M14.1M-632.2K0.0681.752,68217234,48536,918
2025-12-30$107.16$107.0019.5%5.6%17.0%6.9%18.0%2.5%1.6%-5.0M12.9M-631.1K0.9985.9138237934,52136,974
2025-12-31$105.88$107.0019.0%5.5%17.0%5.8%21.2%1.5%2.1%-6.7M33.8M-622.6K7.3986.952211,63334,64737,053