C Options History — October 2025

In October 2025, C traded between $94.13 and $101.36. ATM implied volatility averaged 32.5%, placing in the 24.8% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded above realized volatility by 8.4% (HV 20d: 24.1%). Max pain ranged from $97.00 to $97.50. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 4 of 23 days. Put/call ratio averaged 0.68.

Notable Days

2025-10-14: Highest Volume — 213,953 contracts
2025-10-16: Largest IV spike — 24.8% change
2025-10-16: Highest IV Rank — 38.9%
2025-10-16: Largest Expected Move — 10.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$98.13	$94.13	$101.36	$98.83	$101.36
Max Pain	$97.46	$97.00	$97.50	$97.50	$97.50
ATM IV	32.5%	28.8%	39.5%	32.9%	30.0%
Expected Move	9.3%	8.5%	10.9%	10.3%	8.9%
HV 20d	24.1%	17.4%	30.0%	20.9%	28.5%
HV 60d	22.1%	19.8%	23.4%	21.8%	23.4%
IV Rank	24.8%	17.3%	38.9%	25.7%	19.8%
IV Percentile	78.4%	58.3%	95.2%	84.9%	66.3%
Term Structure	-0.7%	-2.2%	0.7%	-0.0%	-0.4%
VWIV	32.4%	29.1%	39.4%	35.7%	31.2%
Skew 25d	3.3%	2.4%	4.8%	3.0%	3.3%
Skew 10d	7.5%	4.4%	21.8%	5.9%	7.9%
Call IV 25d	30.8%	26.8%	36.9%	31.9%	28.4%
Put IV 25d	34.1%	30.2%	40.5%	34.9%	31.6%
Bid-Ask Spread %	11.60	4.07	22.63	4.85	20.44
Gamma HHI	0.11	0.07	0.29	0.09	0.12
Net GEX	57.6M	-3.4M	163.9M	8.0M	113.6M
Net DEX	-3.20B	-4.07B	-2.11B	-2.99B	-4.07B
Net VEX	-21.8M	-23.0M	-20.9M	-20.9M	-21.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.68	0.15	1.23	0.59	0.15
Total Volume	92,242.565	30,020	213,953	87,574	190,357
Total OI	1,630,219.043	1,540,565	1,755,621	1,540,565	1,658,486

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2025-10-01	$98.83	$97.50	32.9%	10.3%	20.9%	25.7%	35.7%	3.0%	-0.0%	8.0M	-2.99B	-20.9M	0.59	4.85	55,075	32,499	693,253	847,312
2025-10-02	$97.38	$97.00	32.8%	10.3%	19.9%	25.3%	35.7%	2.6%	0.2%	-3.4M	-2.67B	-21.1M	0.39	4.07	78,351	30,564	719,982	852,727
2025-10-03	$97.59	$97.00	32.5%	10.4%	19.1%	24.7%	36.2%	2.4%	-0.3%	6.1M	-2.87B	-21.2M	0.54	5.00	43,517	23,355	745,799	850,047
2025-10-06	$98.00	$97.50	34.2%	9.2%	19.1%	28.2%	31.8%	2.9%	-1.1%	36.9M	-3.04B	-21.5M	0.79	7.27	24,783	19,454	737,616	830,632
2025-10-07	$97.54	$97.50	33.8%	9.2%	18.1%	27.3%	31.9%	2.8%	-1.0%	33.6M	-2.92B	-21.6M	0.85	8.55	23,725	20,113	741,595	837,037
2025-10-08	$96.73	$97.50	33.8%	9.2%	18.3%	27.4%	31.8%	2.8%	-0.9%	21.3M	-2.74B	-21.7M	0.74	6.54	32,248	23,860	750,451	841,998
2025-10-09	$95.81	$97.50	34.5%	9.4%	17.4%	28.7%	32.0%	3.0%	-1.3%	859.3K	-2.55B	-21.5M	0.69	5.92	50,582	35,038	763,255	850,221
2025-10-10	$94.13	$97.50	38.5%	10.1%	18.0%	36.9%	34.2%	3.3%	-2.2%	7.9M	-2.11B	-22.1M	0.94	9.82	94,237	89,026	781,270	858,978
2025-10-13	$96.48	$97.50	36.2%	9.7%	20.3%	32.3%	34.8%	3.0%	-1.8%	54.6M	-2.94B	-21.7M	0.68	7.98	97,615	66,423	780,514	828,881
2025-10-14	$99.56	$97.50	32.4%	9.0%	23.4%	24.5%	31.3%	2.7%	-1.0%	98.5M	-3.81B	-22.1M	0.41	11.50	151,949	62,004	822,466	865,961
2025-10-15	$99.24	$97.50	31.6%	9.0%	22.7%	23.0%	32.5%	2.6%	-0.3%	95.5M	-3.72B	-21.9M	0.56	9.60	68,130	37,977	829,740	868,032
2025-10-16	$95.72	$97.50	39.5%	10.9%	25.8%	38.9%	39.4%	3.7%	-1.7%	47.0M	-2.64B	-23.0M	0.85	16.93	67,835	57,906	852,039	876,047
2025-10-17	$97.41	$97.50	33.9%	9.5%	26.6%	27.5%	33.0%	4.7%	-1.3%	106.7M	-3.22B	-22.8M	0.77	9.11	51,935	40,063	873,981	881,640
2025-10-20	$99.16	$97.50	30.5%	8.7%	27.4%	20.8%	31.1%	4.8%	-0.6%	63.7M	-3.47B	-22.1M	1.23	10.43	30,670	37,865	777,272	814,830
2025-10-21	$98.29	$97.50	30.3%	8.7%	27.5%	20.2%	30.2%	4.1%	-0.6%	52.6M	-3.23B	-22.1M	1.19	9.75	18,270	21,807	785,510	827,664
2025-10-22	$96.39	$97.50	31.5%	9.0%	28.0%	22.8%	30.9%	4.0%	-0.8%	35.4M	-2.80B	-22.2M	0.69	12.29	32,877	22,595	791,785	830,827
2025-10-23	$96.61	$97.50	30.3%	8.8%	28.0%	20.3%	30.3%	4.2%	-1.5%	36.8M	-2.87B	-22.1M	0.43	10.10	29,249	12,491	800,617	836,140
2025-10-24	$98.99	$97.50	29.3%	8.5%	28.8%	18.3%	29.1%	3.3%	-0.6%	163.9M	-3.51B	-22.2M	0.44	21.81	72,901	32,036	812,545	842,124
2025-10-27	$101.08	$97.50	28.8%	8.5%	30.0%	17.3%	29.5%	3.0%	0.3%	88.5M	-3.95B	-21.6M	0.50	15.25	51,256	25,402	790,563	815,381
2025-10-28	$101.28	$97.50	29.1%	8.6%	29.3%	17.9%	30.3%	3.5%	0.7%	95.9M	-4.05B	-21.5M	0.54	16.52	19,553	10,467	807,913	826,165
2025-10-29	$99.25	$97.50	30.9%	9.1%	28.6%	21.5%	31.4%	2.6%	-0.5%	75.8M	-3.57B	-21.5M	0.93	22.63	36,377	33,856	812,424	830,057
2025-10-30	$100.20	$97.50	30.4%	9.1%	28.2%	20.6%	31.6%	3.0%	0.0%	85.8M	-3.75B	-21.8M	0.75	20.55	37,276	28,010	813,684	839,577
2025-10-31	$101.36	$97.50	30.0%	8.9%	28.5%	19.8%	31.2%	3.3%	-0.4%	113.6M	-4.07B	-21.8M	0.15	20.44	165,805	24,552	820,216	838,270