ETQ Options History — December 2025

In December 2025, ETQ traded between $34.64 and $55.64. ATM implied volatility averaged 145.7%, placing in the 27.1% IV rank vs the trailing year. The 30-day expected move averaged 39.0%. IV traded below realized volatility by 14.5% (HV 20d: 160.2%). Max pain ranged from $45.00 to $50.00. Net GEX was positive for 12 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 0.59.

Notable Days

2025-12-01: Highest Volume — 11 contracts
2025-12-10: Largest IV drop — 32.4% change
2025-12-09: Highest IV Rank — 38.6%
2025-12-03: Largest Expected Move — 47.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.73	$34.64	$55.64	$55.64	$43.56
Max Pain	$45.71	$45.00	$50.00	$50.00	$45.00
ATM IV	145.7%	114.5%	201.5%	165.9%	114.5%
Expected Move	39.0%	32.8%	47.8%	47.5%	32.8%
HV 20d	160.2%	117.2%	185.8%	176.9%	117.2%
HV 60d	634.4%	631.7%	636.0%	631.7%	633.3%
IV Rank	27.1%	20.7%	38.6%	31.2%	20.7%
IV Percentile	36.3%	12.3%	76.3%	58.9%	12.3%
Term Structure	9.6%	-5.1%	51.8%	51.8%	5.8%
VWIV	150.0%	113.5%	211.6%	211.6%	129.3%
Skew 25d	10.3%	-16.8%	131.9%	131.9%	13.9%
Skew 10d	14.1%	-46.7%	199.2%	166.0%	-1.1%
Call IV 25d	131.5%	87.8%	149.8%	99.3%	89.8%
Put IV 25d	141.8%	103.8%	231.2%	231.2%	103.8%
Bid-Ask Spread %	81.28	48.67	148.53	125.58	105.22
Gamma HHI	0.37	0.18	0.96	0.44	0.23
Net GEX	-395	-7.8K	166	-305	135
Net DEX	-13.9K	-34.3K	23.7K	870	-12.3K
Net VEX	-49	-100	-30	-100	-30
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.59	0.00	2.00	1.20	1.00
Total Volume	2.5	0	11	11	0
Total OI	15.545	8	23	16	8

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 Vol	Put Vol	Call OI	Put OI
2025-12-01	$55.64	$50.00	165.9%	47.5%	176.9%	31.2%	211.6%	131.9%	51.8%	-305	870	-100	1.20	125.58	5	6	4	12
2025-12-02	$46.30	$50.00	153.5%	44.0%	185.8%	28.7%	113.5%	84.3%	32.2%	-239	4.8K	-90	2.00	140.90	3	6	5	11
2025-12-03	$41.75	$50.00	166.6%	47.8%	177.1%	31.4%	169.3%	97.0%	39.7%	-89	-9.0K	-54	0.00	148.53	2	0	7	7
2025-12-04	$41.63	$0.00	192.8%	39.2%	166.3%	36.8%	136.5%	-5.9%	6.7%	-86	-14.9K	-48	0.50	53.03	2	1	9	7
2025-12-05	$44.62	$45.00	184.1%	40.0%	164.4%	35.0%	0.0%	-9.3%	6.7%	-51	-22.9K	-62	0.00	48.67	6	0	10	8
2025-12-08	$41.44	$45.00	185.9%	39.8%	161.7%	35.4%	0.0%	-12.8%	4.0%	-50	-14.5K	-55	0.00	54.81	2	0	9	8
2025-12-09	$36.25	$45.00	201.5%	39.2%	167.1%	38.6%	0.0%	-2.7%	7.0%	33	-14.0K	-54	0.50	75.63	2	1	11	8
2025-12-10	$34.64	$45.00	136.2%	39.1%	165.1%	25.1%	0.0%	-13.4%	2.0%	63	-16.2K	-55	0.00	73.26	1	0	13	9
2025-12-11	$38.56	$45.00	135.2%	38.7%	169.9%	24.9%	146.7%	-13.2%	9.3%	37	-26.5K	-54	0.00	66.49	6	0	14	9
2025-12-12	$41.92	$45.00	134.9%	38.7%	165.4%	24.9%	0.0%	-10.8%	8.6%	21	-26.8K	-57	0.00	60.96	1	0	13	9
2025-12-15	$45.75	$45.00	135.3%	38.8%	168.2%	25.0%	0.0%	-16.8%	8.5%	-463	-34.3K	-42	1.00	68.79	1	1	14	9
2025-12-16	$44.88	$45.00	135.8%	38.9%	164.8%	25.1%	0.0%	-12.5%	10.1%	-516	-5.1K	-40	0.00	66.02	0	2	9	10
2025-12-17	$49.13	$45.00	140.6%	40.3%	164.3%	26.0%	143.4%	-6.1%	-3.9%	-292	-18.2K	-46	2.00	56.08	1	2	9	11
2025-12-18	$50.29	$45.00	137.3%	39.4%	157.0%	25.4%	0.0%	-3.5%	4.8%	-7.8K	-29.9K	-42	0.00	58.02	0	1	10	12
2025-12-19	$42.79	$45.00	141.1%	40.4%	165.3%	26.1%	0.0%	-11.4%	-5.1%	135	23.7K	-34	0.00	66.72	1	0	7	12
2025-12-22	$43.25	$45.00	123.3%	35.3%	163.0%	22.5%	0.0%	4.4%	6.6%	161	-17.5K	-38	0.00	77.42	0	0	7	1
2025-12-23	$43.06	$45.00	132.0%	37.9%	148.7%	24.3%	129.3%	-9.9%	-0.3%	166	-18.3K	-37	1.00	79.25	1	1	7	1
2025-12-24	$44.22	$45.00	127.6%	36.6%	148.5%	23.4%	0.0%	-2.7%	2.2%	108	-14.1K	-36	0.00	81.65	0	0	6	2
2025-12-26	$44.34	$45.00	123.5%	35.4%	147.3%	22.5%	0.0%	-4.1%	4.1%	116	-13.8K	-34	0.00	85.57	0	0	6	2
2025-12-29	$44.59	$45.00	120.5%	34.5%	147.3%	21.9%	0.0%	11.7%	6.0%	127	-13.5K	-32	0.00	95.56	0	0	6	2
2025-12-30	$43.53	$45.00	117.3%	33.6%	133.5%	21.2%	0.0%	19.7%	3.8%	130	-12.6K	-31	0.00	99.99	0	0	6	2
2025-12-31	$43.56	$45.00	114.5%	32.8%	117.2%	20.7%	0.0%	13.9%	5.8%	135	-12.3K	-30	0.00	105.22	0	0	6	2