SPYX Options History — December 2025

In December 2025, SPYX traded between $55.38 and $56.91. ATM implied volatility averaged 17.7%, placing in the 9.5% IV rank vs the trailing year. The 30-day expected move averaged 4.7%. IV traded above realized volatility by 5.9% (HV 20d: 11.8%). Max pain ranged from $53.00 to $57.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 2.71.

Notable Days

  • 2025-12-03: Highest Volume — 70 contracts
  • 2025-12-10: Largest IV drop — 36.3% change
  • 2025-12-09: Highest IV Rank — 19.5%
  • 2025-12-03: Largest Expected Move — 5.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$56.34$55.38$56.91$56.11$56.31
Max Pain$55.32$53.00$57.00$57.00$53.00
ATM IV17.7%13.1%24.2%20.1%15.6%
Expected Move4.7%3.8%5.9%5.8%4.5%
HV 20d11.8%8.4%15.2%15.2%8.8%
HV 60d12.2%11.9%12.5%12.1%12.5%
IV Rank9.5%2.5%19.5%13.2%6.3%
IV Percentile31.2%3.6%79.0%57.5%10.3%
Term Structure-0.3%-5.9%5.1%-5.9%2.6%
VWIV17.0%8.4%25.8%9.5%8.4%
Skew 25d4.9%2.4%10.6%10.6%2.4%
Skew 10d7.0%2.6%11.4%5.4%2.6%
Call IV 25d13.1%9.6%16.2%9.6%16.2%
Put IV 25d18.0%15.7%22.7%20.2%18.6%
Bid-Ask Spread %139.03127.22154.40153.38139.79
Gamma HHI0.200.160.250.160.22
Net GEX-52.1K-78.2K-11.7K-62.5K-13.9K
Net DEX266.0K51.0K451.4K330.0K72.0K
Net VEX-2.0K-2.8K-1.4K-2.4K-1.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.710.0010.004.000.00
Total Volume8.40907050
Total OI886.727788933788899

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$56.11$57.0020.1%5.8%15.2%13.2%9.5%10.6%-5.9%-62.5K330.0K-2.4K4.00153.38N/AN/A1430758
2025-12-02$56.25$57.0020.1%5.8%15.2%13.2%0.0%8.5%-5.3%-67.3K328.1K-2.3K0.00153.47N/AN/A0031762
2025-12-03$56.38$57.0020.6%5.9%14.8%14.0%0.0%8.9%-3.4%-68.4K294.3K-2.1K0.00154.40N/AN/A07031762
2025-12-04$56.24$56.0021.1%4.4%14.8%14.8%0.0%4.4%2.5%-70.0K379.7K-2.8K0.00133.31N/AN/A0031832
2025-12-05$56.45$56.0021.8%4.4%14.0%15.7%25.8%4.1%2.9%-70.1K337.2K-2.4K0.00127.22N/AN/A03731832
2025-12-08$56.22$56.0023.4%4.4%14.1%18.3%20.8%3.7%2.1%-78.2K451.4K-2.6K10.00132.88N/AN/A11031869
2025-12-09$56.26$56.0024.2%4.5%12.7%19.5%0.0%3.7%2.4%-68.7K403.8K-2.4K0.00136.33N/AN/A0031869
2025-12-10$56.70$56.0015.4%4.4%13.0%6.0%25.8%5.9%0.6%-77.9K364.5K-2.1K0.00131.39N/AN/A02031869
2025-12-11$56.72$56.0015.3%4.4%13.0%5.8%0.0%5.8%-0.4%-76.4K346.9K-2.0K0.00134.59N/AN/A0031889
2025-12-12$56.09$56.0014.0%4.0%12.1%3.8%0.0%2.6%2.8%-64.8K398.8K-2.1K1.00128.46N/AN/A1131889
2025-12-15$56.08$56.0015.0%4.3%12.1%5.5%0.0%3.9%2.2%-57.8K316.7K-2.0K0.00134.72N/AN/A0032873
2025-12-16$56.02$56.0015.4%4.4%11.2%6.1%10.0%5.3%2.0%-58.2K330.0K-2.0K0.00136.61N/AN/A10032873
2025-12-17$55.38$56.0017.2%4.9%12.0%8.8%13.1%2.4%-2.0%-65.1K383.1K-2.1K4.00131.64N/AN/A1442873
2025-12-18$55.89$56.0015.3%4.4%12.3%5.8%22.4%4.8%1.0%-53.1K316.5K-1.9K0.00135.23N/AN/A02042871
2025-12-19$56.19$56.0014.8%4.3%10.7%5.1%0.0%5.1%1.4%-47.6K279.8K-1.7K0.00140.59N/AN/A0042891
2025-12-22$56.44$56.0013.1%3.8%10.3%2.5%8.4%5.1%5.1%-35.8K165.3K-1.7K0.00147.07N/AN/A4037869
2025-12-23$56.69$53.0016.1%4.6%9.2%7.0%0.0%5.3%-2.8%-27.0K71.4K-1.6K0.00146.23N/AN/A0039859
2025-12-24$56.91$53.0016.6%4.8%8.9%7.8%0.0%4.6%-2.7%-20.4K68.6K-1.6K0.00136.41N/AN/A0039859
2025-12-26$56.90$53.0017.4%5.0%8.4%9.1%0.0%4.0%-3.4%-26.0K80.7K-1.6K0.00141.45N/AN/A1039859
2025-12-29$56.70$53.0017.8%5.1%8.5%9.7%0.0%4.3%-3.7%-25.8K83.2K-1.5K0.00141.06N/AN/A0040859
2025-12-30$56.65$53.0018.6%5.3%8.5%10.9%0.0%3.4%-4.7%-11.7K51.0K-1.4K0.00142.33N/AN/A0040859
2025-12-31$56.31$53.0015.6%4.5%8.8%6.3%0.0%2.4%2.6%-13.9K72.0K-1.4K0.00139.79N/AN/A0040859