ADEA Options History — September 2025

In September 2025, ADEA traded between $14.96 and $17.01. ATM implied volatility averaged 41.3%, placing in the 9.4% IV rank vs the trailing year. The 30-day expected move averaged 12.4%. IV traded above realized volatility by 8.3% (HV 20d: 33.0%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.62.

Notable Days

  • 2025-09-22: Highest Volume — 1,321 contracts
  • 2025-09-25: Largest IV spike — 43.5% change
  • 2025-09-12: Highest IV Rank — 15.8%
  • 2025-09-09: Largest Expected Move — 16.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$16.00$14.96$17.01$14.96$16.62
Max Pain$14.76$12.50$15.00$12.50$15.00
ATM IV41.3%22.8%53.3%45.7%46.9%
Expected Move12.4%6.5%16.4%13.1%13.4%
HV 20d33.0%24.7%51.9%51.9%24.7%
HV 60d39.9%38.2%42.2%42.2%38.3%
IV Rank9.4%0.0%15.8%11.5%13.3%
IV Percentile22.8%0.0%46.0%29.8%34.9%
Term Structure2.7%-28.3%35.9%1.9%24.2%
VWIV41.5%28.8%66.6%45.1%28.8%
Skew 25d8.1%-16.4%64.4%38.6%2.5%
Skew 10d4.6%-33.1%68.5%67.2%7.7%
Call IV 25d40.3%24.0%58.1%37.8%38.5%
Put IV 25d48.4%26.6%90.2%76.4%41.0%
Bid-Ask Spread %121.70108.50135.57115.04125.53
Gamma HHI0.680.490.890.700.88
Net GEX25.4K1.5K40.2K36.8K32.2K
Net DEX-395.3K-687.5K-64.6K-353.1K-584.1K
Net VEX-1.4K-3.7K-167-1.1K-3.3K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.620.005.000.000.00
Total Volume66.90501,32100
Total OI1,530.524861,7021,6961,381

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$14.96$12.5045.7%13.1%51.9%11.5%0.0%38.6%1.9%36.8K-353.1K-1.1K0.00115.04N/AN/A001,63165
2025-09-03$15.11$12.5044.6%12.8%51.9%11.0%0.0%37.1%3.8%38.0K-360.4K-1.1K0.00111.13N/AN/A001,63165
2025-09-04$15.44$15.0041.0%13.8%38.9%8.9%0.0%19.9%-20.8%40.2K-372.4K-9280.00117.79N/AN/A001,63265
2025-09-05$15.39$15.0039.6%13.9%38.8%8.1%0.0%17.9%-21.1%36.6K-338.6K-8380.00120.42N/AN/A601,63265
2025-09-08$15.49$15.0038.8%12.9%36.3%7.7%45.1%5.9%-20.2%30.7K-307.9K-5860.00119.78N/AN/A0101,63765
2025-09-09$15.29$15.0041.4%16.4%36.1%9.1%0.0%-13.9%-15.1%28.8K-287.4K-5840.00127.77N/AN/A011,63762
2025-09-10$15.21$15.0050.9%14.6%32.4%14.5%0.0%-16.4%-12.5%23.2K-249.1K-4770.00126.75N/AN/A001,63762
2025-09-11$15.64$15.0050.5%14.5%32.0%14.2%0.0%-4.3%-18.7%27.4K-321.1K-3530.00130.70N/AN/A001,63762
2025-09-12$15.61$15.0053.3%15.3%31.5%15.8%0.0%-1.7%-14.9%20.9K-310.0K-3680.00135.57N/AN/A501,63762
2025-09-15$15.54$15.0045.0%12.9%31.5%11.2%41.7%-0.8%-6.9%27.2K-307.8K-3851.00121.35N/AN/A111,63462
2025-09-16$15.68$15.0039.1%11.2%31.5%7.9%37.4%-6.8%-6.2%6.9K-330.4K-2040.00122.06N/AN/A1301,63561
2025-09-17$15.71$15.0043.3%12.4%30.5%10.2%37.0%-11.1%-28.3%8.3K-329.2K-2100.13125.39N/AN/A811,64161
2025-09-18$16.55$15.0039.3%11.3%34.0%8.0%0.0%12.2%10.9%1.5K-365.1K-1670.00125.75N/AN/A201,63661
2025-09-19$16.71$15.0034.2%9.8%33.9%5.1%66.6%-10.0%4.4%1.5K-374.1K-1880.06124.94N/AN/A1611,63861
2025-09-22$16.95$15.0032.9%9.4%26.7%4.4%34.3%11.8%22.2%1.8K-64.6K-1760.00108.50N/AN/A1,32106917
2025-09-23$17.01$15.0022.8%6.5%26.6%0.0%28.8%-9.4%27.1%35.7K-687.5K-3.7K5.00120.53N/AN/A151,36317
2025-09-24$16.83$15.0031.9%9.1%26.0%5.0%0.0%9.7%27.6%34.3K-620.6K-3.7K0.00112.39N/AN/A001,36317
2025-09-25$16.66$15.0045.8%13.1%26.4%12.6%0.0%7.9%29.7%33.4K-551.0K-3.4K0.00126.16N/AN/A1301,36317
2025-09-26$16.84$15.0039.5%11.3%26.4%9.2%0.0%16.5%32.8%33.8K-638.1K-3.7K0.00121.28N/AN/A001,36317
2025-09-29$16.77$15.0040.9%11.7%24.9%10.0%0.0%64.4%35.9%34.6K-548.8K-3.3K0.00116.97N/AN/A001,36317
2025-09-30$16.62$15.0046.9%13.4%24.7%13.3%0.0%2.5%24.2%32.2K-584.1K-3.3K0.00125.53N/AN/A001,36417