DAVE Options History — July 2025

In July 2025, DAVE traded between $189.25 and $281.14. ATM implied volatility averaged 102.1%, placing in the 26.9% IV rank vs the trailing year. The 30-day expected move averaged 30.2%. IV traded above realized volatility by 6.2% (HV 20d: 95.9%). Max pain ranged from $190.00 to $230.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 2 of 22 days. Put/call ratio averaged 0.62.

Notable Days

2025-07-16: Highest Volume — 5,658 contracts
2025-07-09: Largest IV spike — 30.5% change
2025-07-31: Highest IV Rank — 46.6%
2025-07-31: Largest Expected Move — 41.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$226.23	$189.25	$281.14	$259.17	$236.60
Max Pain	$203.18	$190.00	$230.00	$190.00	$200.00
ATM IV	102.1%	71.4%	144.0%	73.7%	144.0%
Expected Move	30.2%	21.1%	41.3%	21.1%	41.3%
HV 20d	95.9%	81.2%	105.7%	81.2%	98.3%
HV 60d	101.0%	92.8%	104.5%	103.3%	104.5%
IV Rank	26.9%	12.4%	46.6%	13.5%	46.6%
IV Percentile	65.8%	22.6%	96.8%	27.0%	96.8%
Term Structure	-15.5%	-43.8%	20.8%	20.8%	-43.8%
VWIV	105.8%	75.7%	145.4%	76.0%	145.4%
Skew 25d	0.0%	-6.1%	6.3%	-1.8%	-0.9%
Skew 10d	3.1%	-14.8%	38.8%	-1.0%	-4.2%
Call IV 25d	106.9%	77.0%	147.6%	78.0%	147.6%
Put IV 25d	106.9%	74.2%	146.7%	76.2%	146.7%
Bid-Ask Spread %	45.03	35.59	81.16	78.89	35.59
Gamma HHI	0.11	0.09	0.13	0.09	0.11
Net GEX	1.8M	1.4M	2.2M	1.6M	1.9M
Net DEX	-171.0M	-259.1M	-94.0M	-220.5M	-198.3M
Net VEX	-555.3K	-662.5K	-449.1K	-487.5K	-659.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.62	0.19	3.01	0.78	0.21
Total Volume	1,537.682	231	5,658	801	1,240
Total OI	17,565.909	13,955	21,430	13,955	18,457

Daily Data (22 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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-07-01	$259.17	$190.00	73.7%	21.1%	81.2%	13.5%	76.0%	-1.8%	20.8%	1.6M	-220.5M	-487.5K	0.78	78.89	N/A	N/A	449	352	11,896	2,059
2025-07-02	$271.11	$190.00	75.5%	21.7%	82.0%	14.3%	75.7%	-2.9%	19.1%	1.6M	-241.9M	-492.7K	0.43	81.16	N/A	N/A	208	90	12,041	2,130
2025-07-03	$281.14	$200.00	71.4%	27.2%	82.1%	12.4%	96.5%	-0.8%	-12.5%	1.7M	-259.1M	-497.4K	0.75	48.26	N/A	N/A	261	197	12,095	2,154
2025-07-07	$278.12	$200.00	74.4%	28.3%	82.5%	13.8%	100.7%	-3.2%	-13.5%	1.6M	-255.5M	-490.2K	3.01	46.06	N/A	N/A	196	590	12,174	2,243
2025-07-08	$259.53	$200.00	75.4%	28.4%	86.3%	14.3%	101.1%	-0.5%	-14.9%	1.4M	-216.3M	-499.8K	0.76	41.41	N/A	N/A	750	573	12,220	2,666
2025-07-09	$243.30	$230.00	98.4%	28.2%	89.8%	25.1%	100.7%	-1.4%	-14.0%	1.5M	-187.4M	-504.1K	0.74	40.66	N/A	N/A	1,039	766	12,667	3,011
2025-07-10	$229.85	$230.00	101.2%	29.0%	92.3%	26.4%	100.8%	1.4%	-15.5%	1.5M	-161.0M	-496.3K	0.45	41.52	N/A	N/A	837	375	13,133	3,463
2025-07-11	$200.47	$230.00	100.5%	28.8%	103.4%	26.1%	98.7%	0.2%	-16.3%	1.5M	-100.7M	-449.1K	0.42	39.39	N/A	N/A	1,594	665	13,369	3,590
2025-07-14	$213.37	$200.00	101.4%	29.1%	105.3%	26.5%	103.5%	-0.1%	-15.2%	1.8M	-131.2M	-477.9K	0.34	36.97	N/A	N/A	1,432	483	13,709	3,762
2025-07-15	$203.49	$200.00	103.8%	29.8%	93.6%	27.7%	103.5%	3.4%	-17.7%	2.0M	-130.4M	-577.7K	0.32	40.04	N/A	N/A	2,520	813	16,461	3,938
2025-07-16	$189.25	$200.00	104.1%	29.8%	95.6%	27.8%	100.8%	6.3%	-17.7%	1.6M	-94.0M	-517.6K	0.39	46.05	N/A	N/A	4,085	1,573	16,376	4,126
2025-07-17	$205.89	$200.00	103.8%	29.8%	99.2%	27.7%	104.5%	0.0%	-13.5%	2.2M	-160.9M	-580.0K	1.15	40.21	N/A	N/A	1,806	2,072	17,316	4,114
2025-07-18	$215.58	$200.00	104.7%	30.0%	100.4%	28.1%	104.4%	1.8%	-15.1%	1.5M	-187.7M	-586.1K	0.32	43.16	N/A	N/A	1,918	605	16,543	4,339
2025-07-21	$195.14	$200.00	109.4%	31.4%	105.7%	30.3%	109.1%	1.1%	-21.0%	1.5M	-116.7M	-543.6K	0.75	40.11	N/A	N/A	877	660	13,932	2,646
2025-07-22	$195.44	$200.00	106.6%	30.6%	105.6%	29.0%	105.2%	0.3%	-15.7%	1.6M	-120.5M	-566.9K	0.35	44.67	N/A	N/A	659	229	14,700	3,148
2025-07-23	$208.12	$200.00	105.2%	30.1%	104.8%	28.3%	105.6%	2.0%	-15.3%	1.9M	-146.0M	-616.6K	0.46	45.36	N/A	N/A	392	182	15,085	3,302
2025-07-24	$210.38	$200.00	105.0%	30.1%	104.8%	28.2%	105.0%	0.4%	-14.6%	1.9M	-150.4M	-624.4K	0.54	36.91	N/A	N/A	281	152	15,162	3,359
2025-07-25	$210.67	$200.00	105.9%	30.4%	100.1%	28.7%	107.4%	0.5%	-16.0%	2.0M	-152.6M	-624.3K	0.51	40.21	N/A	N/A	338	171	15,273	3,434
2025-07-28	$213.53	$200.00	114.8%	32.9%	99.9%	32.9%	115.1%	1.7%	-21.0%	2.0M	-157.0M	-621.0K	0.33	40.91	N/A	N/A	174	57	15,411	3,530
2025-07-29	$219.69	$200.00	127.9%	36.7%	95.9%	39.1%	128.4%	-1.0%	-32.1%	2.0M	-175.1M	-641.5K	0.19	43.22	N/A	N/A	1,132	213	15,466	3,558
2025-07-30	$237.25	$200.00	138.7%	39.8%	100.1%	44.2%	138.8%	-6.1%	-36.3%	2.0M	-198.5M	-662.5K	0.37	39.86	N/A	N/A	600	223	14,756	3,636
2025-07-31	$236.60	$200.00	144.0%	41.3%	98.3%	46.6%	145.4%	-0.9%	-43.8%	1.9M	-198.3M	-659.9K	0.21	35.59	N/A	N/A	1,027	213	14,804	3,653