PPI Options History — December 2025 In December 2025, PPI traded between $18.34 and $19.00. ATM implied volatility averaged 40.5%, placing in the 2.5% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded above realized volatility by 25.3% (HV 20d: 15.2%). Max pain ranged from $19.00 to $19.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 4 of 22 days.
Notable Days 2025-12-10 : Largest IV drop — 39.1% change2025-12-09 : Highest IV Rank — 6.0%2025-12-03 : Largest Expected Move — 13.0%Monthly Statistics Metric Avg Min Max Open Close Price $18.65 $18.34 $19.00 $18.41 $18.77 Max Pain $19.00 $19.00 $19.00 $19.00 $19.00 ATM IV 40.5% 32.7% 54.0% 44.7% 42.7% Expected Move 10.8% 9.3% 13.0% 12.8% 12.2% HV 20d 15.2% 12.3% 19.4% 19.4% 13.1% HV 60d 17.7% 17.4% 18.1% 17.6% 18.0% IV Rank 2.5% 0.4% 6.0% 3.5% 3.0% IV Percentile 28.4% 4.0% 52.8% 38.5% 41.3% Term Structure -5.4% -17.4% 3.5% -13.6% -6.2% Skew 25d 2.2% 0.1% 3.5% 2.3% 1.2% Skew 10d 4.2% 2.8% 5.5% 2.8% 3.7% Call IV 25d 45.4% 38.9% 53.9% 50.3% 53.9% Put IV 25d 47.6% 41.8% 55.1% 52.7% 55.1% Bid-Ask Spread % 163.15 158.41 166.39 160.14 162.57 Gamma HHI 0.42 0.31 0.70 0.33 0.51 Net GEX 340 223 407 358 375 Net DEX -3.6K -5.6K -2.4K -3.3K -2.4K Net VEX -13 -19 -8 -14 -8 Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% Total Volume 0 0 0 0 0 Total OI 6.364 5 7 7 5
Daily Data (22 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 Vol Put Vol Call OI Put OI 2025-12-01 $18.41 $19.00 44.7% 12.8% 19.4% 3.5% 0.0% 2.3% -13.6% 358 -3.3K -14 0.00 160.14 0 0 7 0 2025-12-02 $18.38 $19.00 43.6% 12.5% 19.4% 3.3% 0.0% 0.8% -12.9% 354 -3.3K -14 0.00 158.73 0 0 7 0 2025-12-03 $18.49 $19.00 45.4% 13.0% 18.0% 3.7% 0.0% 1.9% -12.7% 314 -4.9K -19 0.00 158.41 0 0 7 0 2025-12-04 $18.60 $0.00 44.1% 9.3% 17.6% 3.4% 0.0% 3.5% -3.1% 300 -5.2K -19 0.00 164.60 0 0 7 0 2025-12-05 $18.54 $0.00 47.4% 9.6% 17.1% 4.2% 0.0% 2.2% 0.5% 340 -4.0K -16 0.00 166.39 0 0 7 0 2025-12-08 $18.50 $0.00 53.8% 10.0% 17.0% 5.9% 0.0% 2.7% -13.9% 385 -3.2K -12 0.00 165.81 0 0 7 0 2025-12-09 $18.51 $0.00 54.0% 9.9% 15.5% 6.0% 0.0% 2.8% -0.0% 331 -4.1K -16 0.00 165.07 0 0 7 0 2025-12-10 $18.68 $0.00 32.9% 9.4% 15.9% 0.4% 0.0% 2.8% 3.5% 407 -3.7K -13 0.00 162.07 0 0 7 0 2025-12-11 $18.86 $0.00 32.7% 9.4% 16.1% 0.4% 0.0% 2.6% -3.9% 327 -5.6K -18 0.00 162.67 0 0 7 0 2025-12-12 $18.54 $0.00 33.3% 9.5% 15.1% 0.6% 0.0% 2.0% -5.8% 319 -4.9K -17 0.00 160.53 0 0 7 0 2025-12-15 $18.63 $0.00 35.9% 10.3% 15.2% 1.3% 0.0% 2.3% -0.6% 402 -3.6K -12 0.00 164.96 0 0 7 0 2025-12-16 $18.55 $0.00 37.1% 10.6% 13.9% 1.6% 0.0% 3.0% -0.4% 382 -3.5K -12 0.00 164.77 0 0 7 0 2025-12-17 $18.34 $0.00 37.8% 10.8% 14.5% 1.7% 0.0% 1.7% -12.7% 368 -2.7K -9 0.00 160.96 0 0 7 0 2025-12-18 $18.50 $0.00 38.7% 11.1% 14.8% 2.0% 0.0% 3.2% -17.4% 382 -3.2K -11 0.00 164.12 0 0 7 0 2025-12-19 $18.68 $0.00 36.6% 10.5% 13.4% 1.4% 0.0% 3.1% 0.6% 301 -2.6K -11 0.00 163.24 0 0 7 0 2025-12-22 $18.89 $0.00 36.7% 10.5% 13.7% 1.4% 0.0% 3.1% 1.7% 370 -2.8K -10 0.00 164.42 0 0 5 0 2025-12-23 $18.93 $0.00 36.8% 10.5% 12.9% 1.5% 0.0% 2.4% -6.6% 223 -4.4K -15 0.00 164.35 0 0 5 0 2025-12-24 $18.86 $0.00 36.8% 10.6% 12.9% 1.5% 0.0% 1.0% -1.0% 319 -3.0K -11 0.00 165.25 0 0 5 0 2025-12-26 $19.00 $0.00 38.6% 11.1% 12.3% 1.9% 0.0% 0.1% -1.6% 337 -3.2K -11 0.00 165.27 0 0 5 0 2025-12-29 $18.74 $0.00 41.0% 11.8% 13.4% 2.6% 0.0% 1.8% -7.2% 296 -2.9K -11 0.00 161.42 0 0 5 0 2025-12-30 $18.83 $0.00 41.4% 11.9% 13.0% 2.7% 0.0% 1.2% -6.2% 292 -3.1K -12 0.00 163.53 0 0 5 0 2025-12-31 $18.77 $0.00 42.7% 12.2% 13.1% 3.0% 0.0% 1.2% -6.2% 375 -2.4K -8 0.00 162.57 0 0 5 0
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