EVCM Options History — September 2025

In September 2025, EVCM traded between $11.07 and $12.13. ATM implied volatility averaged 38.9%, placing in the 6.1% IV rank vs the trailing year. The 30-day expected move averaged 9.9%. IV traded above realized volatility by 4.9% (HV 20d: 34.0%). Max pain ranged from $12.50 to $12.50. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.00.

Notable Days

2025-09-10: Highest Volume — 150 contracts
2025-09-30: Largest IV spike — 51.4% change
2025-09-02: Highest IV Rank — 21.8%
2025-09-02: Largest Expected Move — 22.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$11.60	$11.07	$12.13	$11.21	$11.07
Max Pain	$12.50	$12.50	$12.50	$12.50	$12.50
ATM IV	38.9%	23.4%	77.9%	77.9%	45.5%
Expected Move	9.9%	6.7%	22.3%	22.3%	13.0%
HV 20d	34.0%	29.0%	52.4%	52.4%	31.1%
HV 60d	42.2%	41.7%	42.5%	42.5%	42.0%
IV Rank	6.1%	0.0%	21.8%	21.8%	8.9%
IV Percentile	26.0%	0.0%	88.1%	88.1%	41.3%
Term Structure	0.4%	-26.1%	11.6%	0.3%	-17.1%
VWIV	30.4%	28.2%	32.6%	32.6%	28.2%
Skew 25d	2.7%	-27.2%	38.9%	-6.5%	-2.9%
Skew 10d	-0.3%	-28.5%	44.4%	29.9%	17.0%
Call IV 25d	41.3%	20.8%	120.9%	120.9%	33.1%
Put IV 25d	44.0%	22.1%	123.1%	114.4%	30.2%
Bid-Ask Spread %	108.03	96.90	133.15	133.15	98.80
Gamma HHI	0.85	0.60	0.99	0.62	0.89
Net GEX	3.9K	-189	9.2K	-150	3.2K
Net DEX	-38.3K	-92.8K	4.8K	4.7K	-43.2K
Net VEX	-127	-235	-24	-25	-110
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	14.476	0	150	0	0
Total OI	127	15	197	15	197

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-09-02	$11.21	$12.50	77.9%	22.3%	52.4%	21.8%	0.0%	-6.5%	0.3%	-150	4.7K	-25	133.15	N/A	N/A	0	0	5	10
2025-09-03	$11.36	$12.50	61.1%	17.5%	51.5%	15.0%	0.0%	38.9%	-15.5%	-131	4.6K	-26	115.99	N/A	N/A	0	0	5	10
2025-09-04	$11.32	$0.00	49.6%	10.0%	51.2%	10.3%	0.0%	-2.5%	-0.4%	-130	4.1K	-27	114.29	N/A	N/A	0	0	5	10
2025-09-05	$11.42	$0.00	52.5%	9.0%	36.4%	11.5%	0.0%	9.0%	2.6%	-159	3.5K	-26	115.96	N/A	N/A	0	0	5	10
2025-09-08	$11.75	$0.00	59.8%	8.7%	34.3%	14.4%	0.0%	18.3%	-4.0%	-174	3.3K	-28	109.32	N/A	N/A	0	0	5	10
2025-09-09	$11.55	$0.00	56.1%	7.5%	31.0%	13.0%	0.0%	26.0%	11.6%	-189	4.4K	-25	107.75	N/A	N/A	0	0	5	10
2025-09-10	$11.38	$0.00	27.5%	7.9%	31.8%	1.4%	32.6%	-10.3%	-2.4%	-157	4.8K	-24	96.90	N/A	N/A	150	0	5	10
2025-09-11	$11.73	$12.50	27.6%	7.9%	31.5%	1.4%	0.0%	13.7%	4.4%	5.9K	-43.0K	-209	103.17	N/A	N/A	0	0	155	10
2025-09-12	$11.98	$12.50	29.9%	8.6%	29.0%	2.4%	0.0%	8.7%	6.7%	6.7K	-62.9K	-235	112.80	N/A	N/A	0	0	155	10
2025-09-15	$11.88	$12.50	43.0%	12.3%	29.0%	7.7%	0.0%	-27.2%	-26.1%	4.2K	-70.5K	-230	112.23	N/A	N/A	0	1	155	10
2025-09-16	$11.74	$12.50	25.5%	7.3%	29.6%	0.6%	0.0%	-2.9%	3.7%	6.3K	-35.8K	-182	97.96	N/A	N/A	0	0	155	11
2025-09-17	$11.75	$12.50	26.1%	7.5%	29.6%	0.8%	28.2%	-2.8%	10.3%	7.0K	-42.2K	-194	99.39	N/A	N/A	150	0	155	11
2025-09-18	$12.13	$12.50	23.4%	6.7%	30.9%	0.0%	0.0%	-0.7%	10.8%	9.2K	-64.9K	-218	109.85	N/A	N/A	0	0	155	11
2025-09-19	$11.83	$12.50	32.8%	9.4%	30.8%	3.8%	0.0%	14.8%	5.1%	6.6K	-82.2K	-194	111.65	N/A	N/A	2	0	185	11
2025-09-22	$11.93	$12.50	28.6%	8.2%	29.0%	2.1%	0.0%	-14.2%	6.7%	7.4K	-92.8K	-197	103.99	N/A	N/A	0	0	185	10
2025-09-23	$11.59	$12.50	33.0%	9.5%	30.7%	3.9%	0.0%	-5.0%	-9.1%	5.8K	-71.2K	-175	101.16	N/A	N/A	0	1	185	10
2025-09-24	$11.71	$12.50	30.4%	8.7%	30.4%	2.8%	0.0%	-5.3%	7.4%	6.1K	-73.2K	-174	102.98	N/A	N/A	0	0	185	11
2025-09-25	$11.43	$12.50	28.7%	8.2%	31.6%	2.1%	0.0%	3.4%	4.0%	4.7K	-50.0K	-119	104.45	N/A	N/A	0	0	185	11
2025-09-26	$11.43	$12.50	28.1%	8.1%	31.6%	1.9%	0.0%	2.5%	6.5%	4.7K	-51.8K	-131	104.80	N/A	N/A	0	0	186	11
2025-09-29	$11.41	$12.50	30.0%	8.6%	31.2%	2.7%	0.0%	2.0%	2.4%	4.6K	-50.0K	-113	112.07	N/A	N/A	0	0	186	11
2025-09-30	$11.07	$12.50	45.5%	13.0%	31.1%	8.9%	0.0%	-2.9%	-17.1%	3.2K	-43.2K	-110	98.80	N/A	N/A	0	0	186	11