YMAX Options History — September 2025

In September 2025, YMAX traded between $12.52 and $12.98. ATM implied volatility averaged 12.9%, placing in the 10.0% IV rank vs the trailing year. The 30-day expected move averaged 3.7%. IV traded below realized volatility by 0.2% (HV 20d: 13.2%). Max pain ranged from $13.00 to $14.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 2.34.

Notable Days

  • 2025-09-16: Highest Volume — 1,605 contracts
  • 2025-09-12: Largest IV spike — 79.1% change
  • 2025-09-12: Highest IV Rank — 19.5%
  • 2025-09-09: Largest Expected Move — 5.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.75$12.52$12.98$12.66$12.79
Max Pain$13.90$13.00$14.00$14.00$13.00
ATM IV12.9%8.8%19.1%12.8%11.0%
Expected Move3.7%1.9%5.7%3.7%3.1%
HV 20d13.2%7.3%16.2%15.8%11.6%
HV 60d15.7%14.9%17.0%17.0%15.2%
IV Rank10.0%3.9%19.5%9.9%7.1%
IV Percentile28.1%4.8%62.3%26.2%17.1%
Term Structure3.4%-1.7%11.3%7.6%1.3%
VWIV39.6%3.0%202.3%10.2%37.4%
Skew 25d82.4%-38.1%203.9%23.0%166.4%
Skew 10d121.7%-5.7%247.4%123.9%230.8%
Call IV 25d66.4%13.8%194.6%13.8%104.4%
Put IV 25d148.9%15.0%270.7%36.8%270.7%
Bid-Ask Spread %84.7377.6091.6984.2577.60
Gamma HHI0.540.360.800.460.61
Net GEX-142.0K-428.3K-20.6K-212.0K-84.3K
Net DEX3.2M2.0M4.0M3.5M2.4M
Net VEX-3.4K-5.1K-863-5.0K-2.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.340.069.390.971.02
Total Volume478.81811,605786133
Total OI10,915.3819,76911,68810,95410,526

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$12.66$14.0012.8%3.7%15.8%9.9%10.2%23.0%7.6%-212.0K3.5M-5.0K0.9784.25N/AN/A3983884,6046,350
2025-09-03$12.63$14.0013.7%3.9%15.8%11.2%141.5%153.2%0.7%-36.2K3.4M-2.2K0.8588.68N/AN/A1981694,8526,424
2025-09-04$12.57$14.0013.2%4.1%15.8%10.5%19.4%-38.1%5.1%-62.3K3.8M-2.5K0.9979.05N/AN/A1111104,5286,460
2025-09-05$12.52$14.0014.4%1.9%15.6%12.3%3.0%16.0%8.8%-82.1K4.0M-2.4K7.5880.27N/AN/A1068044,6176,523
2025-09-08$12.61$14.0012.6%3.3%15.9%9.5%31.8%-11.2%2.8%-20.6K3.9M-8631.1882.87N/AN/A2292714,6786,213
2025-09-09$12.70$14.0014.0%5.7%16.2%11.7%20.0%-1.1%2.1%-140.5K3.5M-4.1K1.3182.59N/AN/A1481944,6946,381
2025-09-10$12.68$14.0017.1%4.9%15.8%16.4%17.4%-0.4%3.2%-163.0K3.5M-4.6K5.7783.56N/AN/A985654,8266,456
2025-09-11$12.66$14.0010.7%3.1%15.5%6.7%16.6%-23.6%7.3%-56.2K3.8M-2.4K0.6083.24N/AN/A156934,5386,581
2025-09-12$12.68$14.0019.1%5.5%15.1%19.5%19.7%-4.4%1.1%-184.1K3.7M-4.7K4.6587.42N/AN/A231074,6746,605
2025-09-15$12.77$14.0010.1%2.9%15.4%5.8%18.3%116.5%11.3%-123.3K3.7M-5.0K2.3984.49N/AN/A1132704,6866,618
2025-09-16$12.86$14.0014.6%4.2%15.6%12.6%16.5%127.4%3.5%-227.6K3.3M-3.9K0.0685.88N/AN/A1,513924,7516,696
2025-09-17$12.89$14.008.8%2.5%12.9%3.9%12.1%123.5%9.2%-184.3K3.4M-3.0K9.3991.69N/AN/A282634,7926,720
2025-09-18$12.88$14.0013.0%3.7%12.8%10.2%13.4%132.2%-1.7%-351.4K3.4M-5.1K1.9186.35N/AN/A1893614,7356,755
2025-09-19$12.93$14.0010.6%3.0%10.9%6.5%7.3%130.5%3.0%-428.3K2.9M-4.5K4.0384.16N/AN/A1094394,8496,839
2025-09-22$12.98$14.0012.4%3.5%7.3%9.2%12.7%135.9%1.0%-167.5K2.0M-3.7K0.9684.59N/AN/A3233104,6815,088
2025-09-23$12.86$13.0014.1%4.0%7.8%11.9%14.1%147.4%2.3%-92.5K2.1M-4.2K1.8182.12N/AN/A1943514,9755,248
2025-09-24$12.88$14.0015.9%4.5%7.8%14.5%16.8%2.3%0.0%-105.1K2.7M-2.5K0.3488.32N/AN/A274934,9285,331
2025-09-25$12.63$14.0011.6%3.3%10.4%8.0%20.3%151.2%1.7%-95.3K2.8M-2.1K2.5586.62N/AN/A1263214,9685,331
2025-09-26$12.64$14.0011.8%3.4%10.4%8.3%202.3%180.4%1.6%-100.4K2.8M-3.7K0.1988.09N/AN/A68135,0625,278
2025-09-29$12.84$14.009.9%2.8%11.6%5.4%181.6%203.9%-0.8%-65.2K2.4M-2.6K0.5087.48N/AN/A2031015,0845,278
2025-09-30$12.79$13.0011.0%3.1%11.6%7.1%37.4%166.4%1.3%-84.3K2.4M-2.3K1.0277.60N/AN/A66675,2115,315