SPMB Options History — September 2025

In September 2025, SPMB traded between $22.09 and $22.59. ATM implied volatility averaged 28.3%, placing in the 13.8% IV rank vs the trailing year. The 30-day expected move averaged 7.2%. IV traded above realized volatility by 23.4% (HV 20d: 4.9%). Max pain ranged from $21.00 to $21.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 0 of 21 days.

Notable Days

  • 2025-09-10: Largest IV drop — 44.9% change
  • 2025-09-09: Highest IV Rank — 24.8%
  • 2025-09-03: Largest Expected Move — 9.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$22.41$22.09$22.59$22.09$22.43
Max Pain$21.00$21.00$21.00$21.00$21.00
ATM IV28.3%22.8%43.9%31.6%25.1%
Expected Move7.2%6.1%9.1%9.0%7.2%
HV 20d4.9%4.4%5.3%4.4%4.5%
HV 60d4.5%4.4%4.6%4.6%4.4%
IV Rank13.8%9.9%24.8%16.1%11.6%
IV Percentile24.5%2.0%61.9%38.1%17.1%
Term Structure-7.8%-11.6%-3.6%-10.3%-11.6%
Skew 25d-4.1%-29.3%21.8%-29.3%-4.6%
Skew 10d4.3%-4.1%22.7%-1.8%2.0%
Call IV 25d30.8%11.8%41.7%40.8%40.3%
Put IV 25d26.7%11.5%35.7%11.5%35.7%
Bid-Ask Spread %149.89146.16152.41149.66149.79
Gamma HHI0.490.440.570.490.45
Net GEX1.1K3122.9K945384
Net DEX-10.6K-18.5K-3.8K-7.5K-4.4K
Net VEX-73-115-37-115-37
Div Yield0.0%0.0%0.0%0.0%0.0%
Total Volume00000
Total OI5432656532

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$22.09$21.0031.6%9.0%4.4%16.1%0.0%-29.3%-10.3%945-7.5K-1150.00149.66N/AN/A004025
2025-09-03$22.16$21.0031.8%9.1%4.5%16.2%0.0%-27.9%-10.6%1.1K-9.1K-1120.00148.42N/AN/A004025
2025-09-04$22.24$21.0033.4%6.1%4.6%17.4%0.0%0.5%-3.6%1.2K-10.9K-1100.00152.12N/AN/A004025
2025-09-05$22.36$21.0036.5%6.5%4.9%19.6%0.0%0.6%-4.9%1.3K-13.6K-1110.00152.41N/AN/A004025
2025-09-08$22.46$21.0040.9%6.7%4.9%22.7%0.0%0.8%-5.2%1.5K-15.8K-1010.00152.08N/AN/A004025
2025-09-09$22.43$21.0043.9%6.9%5.0%24.8%0.0%0.6%-7.0%1.4K-15.1K-980.00148.83N/AN/A004025
2025-09-10$22.46$21.0024.2%6.9%5.0%10.9%0.0%0.6%-5.8%1.5K-15.7K-960.00152.26N/AN/A004025
2025-09-11$22.52$21.0023.9%6.9%4.9%10.7%0.0%0.6%-5.5%1.6K-17.1K-930.00151.82N/AN/A004025
2025-09-12$22.49$21.0024.3%7.0%4.6%11.0%0.0%1.9%-5.9%2.9K-16.5K-810.00146.46N/AN/A004025
2025-09-15$22.59$21.0024.5%7.0%4.8%11.1%0.0%-14.6%-6.2%1.8K-18.5K-790.00146.16N/AN/A004025
2025-09-16$22.56$21.0024.9%7.1%4.8%11.4%0.0%0.5%-6.5%1.6K-17.8K-730.00151.21N/AN/A004025
2025-09-17$22.52$21.0025.2%7.2%4.9%11.6%0.0%0.5%-6.9%1.6K-16.9K-700.00150.28N/AN/A004025
2025-09-18$22.41$21.0026.4%7.6%5.3%12.5%0.0%0.3%-7.4%1.4K-14.2K-640.00151.47N/AN/A004025
2025-09-19$22.45$21.0026.8%7.7%5.3%12.7%0.0%-0.6%-7.6%332-4.4K-500.00151.47N/AN/A004025
2025-09-22$22.39$21.0028.5%8.2%5.0%13.9%0.0%-20.4%-9.0%331-3.8K-450.00146.62N/AN/A002111
2025-09-23$22.45$21.0028.9%8.3%5.0%14.3%0.0%21.8%-9.1%312-4.3K-420.00149.16N/AN/A002111
2025-09-24$22.41$21.0022.8%6.5%5.0%9.9%0.0%-6.9%-9.8%450-4.2K-400.00146.62N/AN/A002111
2025-09-25$22.39$21.0022.8%6.5%5.1%9.9%0.0%-3.3%-10.0%352-4.1K-410.00150.31N/AN/A002111
2025-09-26$22.38$21.0023.3%6.7%5.0%10.3%0.0%-3.3%-9.8%346-4.0K-400.00150.66N/AN/A002111
2025-09-29$22.44$21.0024.4%7.0%5.1%11.0%0.0%-4.4%-10.8%386-4.5K-380.00149.88N/AN/A002111
2025-09-30$22.43$21.0025.1%7.2%4.5%11.6%0.0%-4.6%-11.6%384-4.4K-370.00149.79N/AN/A002111