DAVE Options History — September 2025

In September 2025, DAVE traded between $195.81 and $241.06. ATM implied volatility averaged 61.5%, placing in the 4.0% IV rank vs the trailing year. The 30-day expected move averaged 17.7%. IV traded below realized volatility by 3.4% (HV 20d: 64.9%). Max pain ranged from $80.00 to $240.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 1.39.

Notable Days

  • 2025-09-09: Highest Volume — 2,640 contracts
  • 2025-09-08: Largest IV spike — 10.8% change
  • 2025-09-02: Highest IV Rank — 7.8%
  • 2025-09-25: Largest Expected Move — 18.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$217.24$195.81$241.06$210.74$196.39
Max Pain$153.10$80.00$240.00$220.00$220.00
ATM IV61.5%55.8%67.6%61.6%63.7%
Expected Move17.7%16.0%18.6%17.7%18.3%
HV 20d64.9%53.5%93.3%93.3%67.0%
HV 60d89.0%85.2%93.6%92.0%86.4%
IV Rank4.0%0.6%7.8%7.8%4.5%
IV Percentile8.4%0.4%14.3%6.3%12.7%
Term Structure23.5%2.3%29.7%3.4%27.5%
VWIV61.8%56.5%66.1%61.0%62.6%
Skew 25d1.8%-4.9%8.3%-0.5%-2.3%
Skew 10d4.7%-6.2%35.1%1.8%-6.2%
Call IV 25d60.7%53.7%67.0%60.0%64.6%
Put IV 25d62.5%57.5%67.2%59.5%62.3%
Bid-Ask Spread %72.9466.0980.5370.6978.50
Gamma HHI0.120.080.250.140.11
Net GEX673.7K-2.0M2.3M151.5K854.6K
Net DEX-140.8M-262.5M-52.5M-108.7M-52.5M
Net VEX-587.5K-623.2K-524.2K-593.8K-524.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.390.086.090.170.82
Total Volume1,2143212,6401,6511,837
Total OI23,258.14317,87527,25021,28223,027

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$210.74$220.0061.6%17.7%93.3%7.8%61.0%-0.5%3.4%151.5K-108.7M-593.8K0.1770.69N/AN/A1,41423714,5896,693
2025-09-03$205.88$210.0058.2%16.7%93.3%6.1%57.3%1.7%2.3%580.7K-111.0M-607.8K0.7570.24N/AN/A20715515,9336,691
2025-09-04$197.01$80.0057.0%17.2%57.4%5.6%59.7%5.2%23.5%395.8K-83.2M-573.5K0.1869.41N/AN/A73713516,0106,733
2025-09-05$196.38$80.0061.1%18.5%57.4%3.2%61.8%7.0%22.3%802.8K-81.7M-571.2K0.7366.09N/AN/A1,16084416,7156,771
2025-09-08$195.81$80.0067.6%18.5%53.5%6.4%63.2%8.3%22.8%1.4M-94.6M-565.9K2.5566.83N/AN/A32382417,5616,526
2025-09-09$217.11$80.0062.6%18.2%63.8%3.9%63.9%5.7%22.8%2.0M-175.2M-600.8K4.5171.61N/AN/A4792,16117,4845,922
2025-09-10$212.50$80.0059.1%16.9%64.2%2.2%59.1%0.4%26.0%1.4M-152.0M-594.7K0.5671.11N/AN/A35620117,5176,556
2025-09-11$228.18$80.0055.8%16.0%62.6%0.6%56.9%1.6%28.0%1.7M-206.1M-615.1K0.8771.89N/AN/A28825117,5746,665
2025-09-12$228.28$80.0056.4%16.2%62.5%0.8%56.5%3.8%27.1%1.5M-213.2M-600.7K1.4370.08N/AN/A8151,16417,7826,780
2025-09-15$220.49$80.0061.5%17.6%64.2%3.4%61.6%3.2%23.6%-69.1K-166.5M-579.3K1.0673.50N/AN/A37940017,8607,860
2025-09-16$214.55$85.0062.2%17.8%65.2%3.7%62.3%1.7%26.1%-213.8K-136.9M-561.2K0.8576.33N/AN/A81169217,9848,061
2025-09-17$218.59$130.0060.2%17.3%61.9%2.7%59.9%4.3%25.7%-449.2K-165.2M-566.3K1.2474.49N/AN/A14317818,5648,566
2025-09-18$227.81$130.0061.9%17.8%62.1%3.6%63.1%7.2%24.5%-2.0M-215.2M-569.5K1.1873.24N/AN/A37644518,6058,626
2025-09-19$238.75$160.0061.9%17.8%63.4%3.6%63.1%0.2%25.4%2.3M-262.5M-583.3K1.0173.67N/AN/A89089918,5488,702
2025-09-22$241.06$220.0062.1%17.8%60.5%3.7%63.0%-1.7%26.7%1.6M-178.8M-598.2K2.5568.05N/AN/A5731,46213,7864,089
2025-09-23$232.41$240.0063.7%18.3%62.6%4.5%65.8%-3.0%26.4%803.3K-140.1M-623.2K1.0467.08N/AN/A37138614,1155,451
2025-09-24$227.00$240.0064.4%18.5%62.3%4.8%61.9%-4.9%24.0%678.9K-128.3M-618.1K6.0979.31N/AN/A16298614,2355,754
2025-09-25$223.61$240.0065.0%18.6%62.7%5.1%65.1%-0.8%26.7%194.4K-111.0M-621.3K1.3080.38N/AN/A23830914,2256,724
2025-09-26$218.19$240.0062.4%17.9%61.5%3.8%66.1%1.0%28.9%18.8K-91.9M-592.6K0.0878.75N/AN/A9998214,2356,895
2025-09-29$211.39$240.0064.0%18.4%61.9%4.6%63.3%-0.8%29.7%408.6K-83.3M-576.5K0.2980.53N/AN/A87425115,0846,923
2025-09-30$196.39$220.0063.7%18.3%67.0%4.5%62.6%-2.3%27.5%854.6K-52.5M-524.2K0.8278.50N/AN/A1,00882915,9007,127