A Options History — December 2025

In December 2025, A traded between $136.59 and $149.85. ATM implied volatility averaged 26.8%, placing in the 7.5% IV rank vs the trailing year. The 30-day expected move averaged 7.6%. IV traded above realized volatility by 0.7% (HV 20d: 26.2%). Max pain ranged from $130.00 to $145.00. Net GEX was positive for 11 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 2.10.

Notable Days

  • 2025-12-18: Highest Volume — 8,670 contracts
  • 2025-12-31: Largest IV drop — 11.4% change
  • 2025-12-08: Highest IV Rank — 14.4%
  • 2025-12-12: Largest Expected Move — 8.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$141.19$136.59$149.85$149.85$136.59
Max Pain$132.05$130.00$145.00$145.00$130.00
ATM IV26.8%22.6%30.6%27.2%22.6%
Expected Move7.6%6.5%8.2%7.8%6.5%
HV 20d26.2%16.9%30.2%30.1%16.9%
HV 60d28.1%23.0%29.7%29.2%23.1%
IV Rank7.5%0.0%14.4%8.2%0.0%
IV Percentile20.3%0.0%50.0%24.2%0.0%
Term Structure0.5%-2.1%3.9%-0.5%3.9%
VWIV26.3%23.0%28.1%26.8%23.0%
Skew 25d3.5%1.8%4.9%2.8%2.0%
Skew 10d8.4%4.9%18.3%6.0%8.4%
Call IV 25d25.2%22.9%26.9%25.9%22.9%
Put IV 25d28.7%24.9%30.3%28.6%24.9%
Bid-Ask Spread %79.8573.0787.5674.2987.56
Gamma HHI0.200.090.500.130.17
Net GEX-893.7K-4.7M1.8M1.8M1.4M
Net DEX-50.9M-138.5M2.8M-138.5M-32.2M
Net VEX-387.5K-538.3K-277.2K-529.5K-277.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.100.0229.310.741.03
Total Volume1,363.318388,6702,245341
Total OI32,54623,25137,60637,46624,612

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$149.85$145.0027.2%7.8%30.1%8.2%26.8%2.8%-0.5%1.8M-138.5M-529.5K0.7474.29N/AN/A1,29195419,96417,502
2025-12-02$149.74$145.0028.6%8.2%29.3%10.7%28.0%4.0%-2.1%1.6M-130.0M-538.3K0.2978.67N/AN/A74221419,73317,873
2025-12-03$149.38$145.0027.3%7.8%28.8%8.3%25.4%3.8%-1.7%1.4M-124.7M-505.2K0.1882.91N/AN/A1,05018419,37617,924
2025-12-04$147.26$130.0027.2%7.4%29.3%8.3%26.7%4.0%1.1%360.8K-104.4M-514.2K0.5373.07N/AN/A96251319,21618,019
2025-12-05$145.06$130.0028.0%7.9%29.7%9.7%27.0%3.4%0.6%-649.7K-84.0M-492.8K1.2674.72N/AN/A68286218,78118,078
2025-12-08$142.51$130.0030.6%7.7%30.1%14.4%27.2%4.0%0.9%-2.1M-59.7M-471.5K0.2975.21N/AN/A67019118,42718,491
2025-12-09$141.12$130.0029.9%8.1%30.2%13.2%28.0%2.5%-0.8%-2.9M-44.3M-447.7K0.9175.46N/AN/A64358718,06818,514
2025-12-10$143.67$130.0026.9%7.7%30.1%7.7%27.5%4.3%1.1%-2.2M-62.4M-459.5K0.1478.77N/AN/A1,12815818,21518,530
2025-12-11$142.56$130.0026.4%7.6%29.3%6.7%28.1%3.2%1.1%-2.6M-47.5M-411.8K0.2076.43N/AN/A61512017,72918,563
2025-12-12$139.25$130.0028.6%8.2%28.4%10.8%28.1%3.5%0.3%-3.6M-19.4M-385.6K3.0276.61N/AN/A29889917,37018,608
2025-12-15$140.34$130.0027.6%7.9%28.6%8.9%26.1%4.3%0.5%-3.8M-23.3M-373.0K0.1579.14N/AN/A73210717,41218,747
2025-12-16$138.88$130.0026.9%7.7%28.4%7.7%26.1%3.6%0.7%-4.1M-13.0M-347.4K0.3779.75N/AN/A56520717,05418,430
2025-12-17$136.63$130.0028.0%8.0%28.8%9.6%26.7%3.7%0.4%-4.7M2.8M-329.8K0.8678.34N/AN/A76365816,84918,345
2025-12-18$137.50$130.0027.8%8.0%28.9%9.3%24.9%3.7%-1.2%-4.6M1.5M-310.8K29.3180.68N/AN/A2868,38416,51318,398
2025-12-19$136.60$130.0026.0%7.5%28.9%6.1%25.3%4.5%0.2%-3.1M-2.6M-309.8K1.0182.35N/AN/A41241516,60418,437
2025-12-22$138.63$130.0024.3%7.0%24.2%3.0%24.3%3.2%1.5%507.8K-40.1M-303.9K0.0280.66N/AN/A2,5365210,60512,646
2025-12-23$138.61$130.0024.7%7.1%23.6%3.7%24.3%4.5%1.6%1.6M-44.6M-321.6K0.1581.75N/AN/A6819911,99012,669
2025-12-24$138.32$130.0025.2%7.2%19.0%4.5%25.9%2.8%0.3%1.5M-40.5M-310.5K0.6582.84N/AN/A231511,76412,683
2025-12-26$138.26$130.0024.2%6.9%18.2%2.7%26.7%4.9%1.7%1.6M-37.8M-305.9K0.8985.45N/AN/A23520811,71412,691
2025-12-29$138.00$130.0026.7%7.6%18.2%7.2%26.8%3.3%0.3%1.6M-38.5M-291.9K0.6387.25N/AN/A1036511,68812,704
2025-12-30$137.50$130.0025.5%7.3%17.0%4.6%25.6%1.8%0.7%1.5M-35.7M-287.8K3.5184.68N/AN/A7626711,73412,742
2025-12-31$136.59$130.0022.6%6.5%16.9%0.0%23.0%2.0%3.9%1.4M-32.2M-277.2K1.0387.56N/AN/A16817311,73812,874