DOCS Options History — December 2025

In December 2025, DOCS traded between $43.61 and $51.35. ATM implied volatility averaged 43.4%, placing in the 7.1% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded below realized volatility by 12.3% (HV 20d: 55.7%). Max pain ranged from $47.50 to $55.00. Net GEX was positive for 4 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 1.39.

Notable Days

  • 2025-12-05: Highest Volume — 4,558 contracts
  • 2025-12-05: Largest IV spike — 26.0% change
  • 2025-12-05: Highest IV Rank — 11.1%
  • 2025-12-08: Largest Expected Move — 13.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$45.70$43.61$51.35$51.22$44.25
Max Pain$50.91$47.50$55.00$50.00$47.50
ATM IV43.4%36.9%51.2%44.7%36.9%
Expected Move12.3%10.6%13.4%12.8%10.6%
HV 20d55.7%41.8%77.7%70.2%42.7%
HV 60d51.8%48.9%52.9%49.0%52.1%
IV Rank7.1%3.9%11.1%7.8%3.9%
IV Percentile41.4%17.9%57.9%50.8%17.9%
Term Structure12.4%-3.2%19.7%-3.2%19.7%
VWIV43.0%40.2%46.3%44.1%41.9%
Skew 25d3.8%1.7%5.8%5.2%4.9%
Skew 10d11.4%3.7%24.2%20.1%9.0%
Call IV 25d41.4%35.9%44.2%41.7%35.9%
Put IV 25d45.1%40.8%48.4%46.9%40.8%
Bid-Ask Spread %82.3778.2787.2681.0978.27
Gamma HHI0.120.090.140.120.14
Net GEX-263.1K-599.8K175.7K13.5K-64.6K
Net DEX15.2M2.5M26.4M3.2M8.9M
Net VEX-165.3K-215.3K-145.0K-210.1K-156.8K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.390.187.750.577.75
Total Volume1,141.6822084,5584141,408
Total OI35,140.45532,08138,20233,24034,039

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$51.22$50.0044.7%12.8%70.2%7.8%44.1%5.2%-3.2%13.5K3.2M-210.1K0.5781.09N/AN/A26315117,80915,431
2025-12-02$50.63$50.0042.9%12.3%69.7%6.9%41.3%5.1%-1.6%6.0K5.9M-200.8K0.4678.35N/AN/A47922017,98315,546
2025-12-03$51.18$50.0041.6%11.9%70.2%6.2%42.8%1.7%-0.7%46.5K3.7M-211.6K0.1884.58N/AN/A1,51826718,28415,667
2025-12-04$51.35$55.0040.6%11.2%70.4%5.8%44.2%3.1%15.3%175.7K2.5M-215.3K7.6781.28N/AN/A2418419,47415,936
2025-12-05$46.22$55.0051.2%13.1%77.7%11.1%44.6%4.1%12.0%-280.9K20.2M-177.1K3.5784.80N/AN/A9983,56019,49315,917
2025-12-08$46.13$55.0050.8%13.4%59.0%10.8%44.6%2.9%13.5%-399.1K21.9M-165.3K0.4980.41N/AN/A77037819,48316,601
2025-12-09$45.55$55.0049.0%13.2%58.9%9.9%46.3%2.4%12.0%-478.2K24.4M-159.3K1.1983.25N/AN/A40848719,52116,808
2025-12-10$45.19$55.0046.6%13.4%58.9%8.7%44.8%5.8%9.5%-519.3K22.4M-163.7K1.0084.81N/AN/A54754819,77316,560
2025-12-11$43.97$52.5045.1%12.9%58.6%8.0%45.1%3.1%14.1%-580.3K26.4M-149.1K2.1281.91N/AN/A31566719,95416,889
2025-12-12$44.28$52.5043.6%12.5%58.2%7.2%43.0%2.5%13.8%-599.8K24.0M-147.1K0.2082.16N/AN/A93018520,10816,344
2025-12-15$44.75$52.5045.4%13.0%58.4%8.2%45.2%4.0%12.6%-571.7K20.0M-153.8K0.5183.94N/AN/A1,12557020,34916,270
2025-12-16$44.04$50.0043.5%12.5%55.5%7.2%43.2%3.6%14.4%-497.6K21.7M-151.8K0.2583.57N/AN/A87621821,19116,473
2025-12-17$43.93$50.0043.1%12.4%55.4%7.0%42.7%3.7%15.5%-424.4K21.6M-155.3K0.1984.25N/AN/A4879121,72516,477
2025-12-18$43.67$50.0044.0%12.6%55.1%7.4%42.5%3.6%15.7%-426.3K22.0M-145.0K0.5479.76N/AN/A37020021,95016,185
2025-12-19$43.84$50.0041.9%12.0%54.1%6.4%41.4%4.2%15.4%-251.1K18.9M-146.5K0.3683.35N/AN/A1,03037622,06015,578
2025-12-22$44.87$50.0039.3%11.3%42.0%5.1%40.2%4.6%18.4%-201.2K13.0M-153.4K0.5581.07N/AN/A1,06959017,65414,427
2025-12-23$43.61$50.0042.2%12.1%42.7%6.5%42.2%3.7%13.2%-192.2K14.2M-154.1K0.5678.99N/AN/A52629318,19314,566
2025-12-24$44.11$47.5039.8%11.4%42.0%5.4%40.5%3.8%15.4%-168.0K9.7M-158.3K0.2287.26N/AN/A69915118,36314,020
2025-12-26$43.71$47.5040.5%11.6%41.8%5.7%41.0%4.5%16.4%-145.0K11.3M-149.3K0.2981.43N/AN/A54616018,83114,163
2025-12-29$44.09$47.5040.9%11.7%41.9%5.9%42.2%4.6%15.2%-127.1K9.7M-154.5K1.0082.89N/AN/A41841718,99214,229
2025-12-30$44.77$47.5041.3%11.8%42.7%6.1%42.5%1.7%16.7%-103.6K8.5M-158.4K0.8684.79N/AN/A32127719,24614,528
2025-12-31$44.25$47.5036.9%10.6%42.7%3.9%41.9%4.9%19.7%-64.6K8.9M-156.8K7.7578.27N/AN/A1611,24719,42914,610