ELAN Options History — September 2025

In September 2025, ELAN traded between $17.30 and $20.07. ATM implied volatility averaged 33.3%, placing in the 16.8% IV rank vs the trailing year. The 30-day expected move averaged 9.5%. IV traded below realized volatility by 5.8% (HV 20d: 39.1%). Max pain ranged from $12.00 to $18.00. Net GEX was positive for 4 of 21 trading days. Term structure was in contango for 18 of 21 days. Put/call ratio averaged 1.58.

Notable Days

  • 2025-09-05: Highest Volume — 7,988 contracts
  • 2025-09-04: Largest IV spike — 43.5% change
  • 2025-09-05: Highest IV Rank — 23.6%
  • 2025-09-22: Largest Expected Move — 10.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.71$17.30$20.07$17.88$20.07
Max Pain$12.57$12.00$18.00$18.00$12.00
ATM IV33.3%20.4%38.5%33.0%34.6%
Expected Move9.5%5.9%10.4%9.5%9.9%
HV 20d39.1%33.0%63.9%61.8%36.8%
HV 60d43.2%42.0%44.2%42.1%44.2%
IV Rank16.8%0.0%23.6%15.8%18.5%
IV Percentile16.7%0.0%29.4%13.9%19.8%
Term Structure6.3%-8.0%12.4%-1.5%10.9%
VWIV34.4%24.0%36.7%33.9%36.1%
Skew 25d-0.7%-13.4%9.3%-1.1%4.5%
Skew 10d4.0%-11.9%15.1%-11.9%15.1%
Call IV 25d32.6%22.2%37.1%22.2%30.9%
Put IV 25d32.0%20.6%37.9%21.1%35.3%
Bid-Ask Spread %75.0261.4492.5889.5872.08
Gamma HHI0.300.170.350.200.30
Net GEX10.2K-50.3K199.4K179.6K-6.3K
Net DEX-12.9M-16.6M-10.2M-14.1M-16.6M
Net VEX-64.2K-75.0K-34.2K-34.2K-72.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.580.0122.630.880.09
Total Volume835.81907,988310634
Total OI23,346.38115,47226,46215,47226,439

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$17.88$18.0033.0%9.5%61.8%15.8%33.9%-1.1%-1.5%179.6K-14.1M-34.2K0.8889.58N/AN/A16514511,5863,886
2025-09-03$17.30$18.0020.4%5.9%63.9%0.0%24.0%-3.3%12.4%195.0K-12.7M-35.0K1.0592.58N/AN/A13514211,6513,903
2025-09-04$17.42$12.0029.3%9.1%63.1%11.6%30.5%2.4%-0.3%199.4K-13.1M-35.1K0.0576.46N/AN/A2511311,6593,849
2025-09-05$18.35$12.0038.5%7.8%33.0%23.6%34.1%-13.4%5.6%179.2K-15.7M-34.7K22.6387.21N/AN/A3387,65011,8633,847
2025-09-08$18.96$12.0028.4%10.1%34.4%10.5%35.3%9.3%4.9%-29.1K-12.4M-65.5K0.1872.36N/AN/A4147312,14011,228
2025-09-09$18.76$12.0035.3%10.1%33.2%19.4%36.7%-7.7%5.8%-20.9K-12.1M-66.9K5.0169.52N/AN/A14472112,41811,263
2025-09-10$18.41$12.0036.4%10.4%34.0%20.8%36.5%-12.9%3.9%-35.2K-10.2M-70.8K0.2173.26N/AN/A1543312,48611,911
2025-09-11$18.71$12.0035.2%10.1%33.6%19.2%35.2%5.1%5.5%-35.2K-11.5M-70.0K0.5968.80N/AN/A1076312,52311,938
2025-09-12$18.55$12.0034.3%9.8%33.7%18.1%35.6%-6.5%5.7%-44.3K-11.0M-69.5K0.6076.44N/AN/A22713612,57411,930
2025-09-15$18.55$12.0034.7%10.0%33.7%18.7%36.5%-6.4%4.9%-33.9K-11.3M-69.2K0.1577.19N/AN/A781212,74011,972
2025-09-16$18.59$12.0034.8%10.0%33.3%18.8%35.5%-9.8%6.6%-37.2K-11.4M-68.7K0.0576.13N/AN/A4212012,76811,973
2025-09-17$18.43$12.0027.2%7.8%33.1%8.8%30.9%-0.2%6.7%-25.4K-11.2M-70.8K0.0284.52N/AN/A307713,15011,973
2025-09-18$19.19$12.0034.6%9.9%35.6%18.4%35.3%7.4%-8.0%-38.4K-14.1M-70.7K0.4674.63N/AN/A44720513,36711,972
2025-09-19$19.19$12.0034.7%9.9%35.6%18.6%35.2%4.6%9.2%-50.3K-13.6M-71.0K0.1761.44N/AN/A82713913,26712,174
2025-09-22$19.26$12.0036.4%10.4%35.0%20.9%35.1%3.5%7.8%-41.0K-13.3M-72.7K0.0968.98N/AN/A4344013,40511,946
2025-09-23$18.56$12.0034.8%10.0%37.8%18.7%35.3%2.6%9.5%-30.7K-11.1M-74.6K0.4071.16N/AN/A31512713,70911,929
2025-09-24$18.66$12.0035.8%10.3%37.8%20.1%36.5%2.4%10.4%-29.4K-11.5M-74.8K0.1869.55N/AN/A1,14420313,83612,035
2025-09-25$18.88$12.0035.6%10.2%35.7%19.7%36.1%1.4%9.1%-20.0K-12.7M-75.0K0.0474.58N/AN/A3561514,19312,038
2025-09-26$19.62$12.0032.7%9.4%38.0%16.1%34.3%1.9%11.6%-38.7K-15.0M-72.9K0.3469.04N/AN/A41714314,22412,047
2025-09-29$19.66$12.0033.4%9.6%37.8%16.9%34.2%2.5%11.9%-21.9K-15.3M-73.6K0.0169.87N/AN/A348214,29812,164
2025-09-30$20.07$12.0034.6%9.9%36.8%18.5%36.1%4.5%10.9%-6.3K-16.6M-72.7K0.0972.08N/AN/A5835114,27412,165