GME Options History — September 2025

In September 2025, GME traded between $22.46 and $27.25. ATM implied volatility averaged 56.8%, placing in the 12.2% IV rank vs the trailing year. The 30-day expected move averaged 16.3%. IV traded above realized volatility by 28.2% (HV 20d: 28.7%). Max pain ranged from $23.00 to $24.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.27.

Notable Days

  • 2025-09-10: Highest Volume — 701,604 contracts
  • 2025-09-10: Largest IV drop — 18.2% change
  • 2025-09-08: Highest IV Rank — 23.9%
  • 2025-09-03: Largest Expected Move — 22.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.14$22.46$27.25$23.19$27.25
Max Pain$23.43$23.00$24.00$23.00$24.00
ATM IV56.8%45.3%68.3%66.9%55.5%
Expected Move16.3%13.5%22.5%22.2%15.3%
HV 20d28.7%21.0%34.9%21.9%33.7%
HV 60d34.9%26.4%60.4%60.4%26.6%
IV Rank12.2%0.4%23.9%22.4%10.8%
IV Percentile17.5%0.8%38.9%34.5%16.3%
Term Structure-0.3%-6.6%4.7%-1.9%-3.4%
VWIV63.8%52.6%88.0%88.0%60.3%
Skew 25d-14.7%-28.2%-4.9%-13.6%-16.3%
Skew 10d-31.2%-53.1%-13.6%-28.1%-39.1%
Call IV 25d69.2%52.4%81.6%76.5%70.2%
Put IV 25d54.5%45.5%63.0%62.9%53.9%
Bid-Ask Spread %20.8113.9734.2615.0815.20
Gamma HHI0.160.090.660.100.09
Net GEX33.3M11.9M111.8M15.7M29.2M
Net DEX-875.9M-1.15B-485.2M-571.4M-1.15B
Net VEX-6.7M-7.4M-5.8M-5.8M-7.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.270.170.470.280.22
Total Volume242,658.762116,918701,604259,275116,918
Total OI1,863,713.191,571,8832,028,8271,571,8831,892,702

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$23.19$23.0066.9%22.2%21.9%22.4%88.0%-13.6%-1.9%15.7M-571.4M-5.8M0.2815.08N/AN/A203,30355,972983,875588,008
2025-09-03$23.02$23.0066.3%22.5%21.0%21.8%86.0%-12.9%4.7%20.1M-584.9M-5.9M0.3023.82N/AN/A152,26945,3221,067,047618,820
2025-09-04$22.59$23.0062.6%17.6%22.0%18.1%67.7%-13.3%3.3%17.2M-498.9M-5.9M0.3019.32N/AN/A92,89027,7851,107,125639,438
2025-09-05$22.46$23.0065.4%17.5%22.1%20.9%71.3%-13.2%-4.7%11.9M-485.2M-5.9M0.2925.00N/AN/A170,62249,3431,128,878648,746
2025-09-08$23.28$23.0068.3%18.2%25.1%23.9%73.2%-14.8%-4.9%15.7M-643.7M-6.3M0.4718.88N/AN/A142,67566,8621,055,547645,438
2025-09-09$23.42$23.0067.7%18.1%25.1%23.2%68.5%-12.3%-6.6%17.6M-659.3M-6.4M0.4719.06N/AN/A180,69785,6941,107,177682,474
2025-09-10$24.54$23.0055.4%14.1%29.3%10.7%52.8%-4.9%-3.8%33.0M-855.4M-6.2M0.4334.26N/AN/A492,094209,5101,193,997727,098
2025-09-11$24.77$23.0045.3%13.5%29.2%0.4%52.6%-5.7%1.5%35.9M-840.2M-6.4M0.3928.15N/AN/A188,08973,0941,218,309776,720
2025-09-12$24.95$23.0045.6%13.5%29.0%0.8%53.4%-6.9%3.4%88.9M-892.7M-6.5M0.2223.30N/AN/A228,16949,6251,254,698774,129
2025-09-15$25.61$23.0051.0%14.7%29.8%6.2%58.4%-12.5%-0.6%30.1M-939.6M-6.7M0.2016.53N/AN/A228,60445,1571,120,966688,782
2025-09-16$26.18$23.0053.0%15.2%30.2%8.4%60.8%-15.8%1.1%33.1M-1.09B-6.9M0.1913.97N/AN/A236,54144,3811,180,053701,205
2025-09-17$26.19$23.0053.2%15.2%29.5%8.5%58.3%-13.6%1.6%37.2M-1.08B-6.8M0.2127.05N/AN/A148,04530,7851,240,504711,730
2025-09-18$25.98$24.0052.0%14.8%29.7%7.3%57.2%-13.6%0.8%40.7M-1.04B-6.9M0.2014.01N/AN/A132,22026,0191,260,875721,116
2025-09-19$26.01$24.0049.6%14.1%29.2%4.9%55.0%-14.9%2.4%111.8M-1.05B-6.8M0.1724.83N/AN/A236,90840,0191,279,085728,819
2025-09-22$26.88$24.0058.0%16.3%30.6%13.4%62.1%-20.7%0.6%27.0M-1.07B-7.1M0.2120.37N/AN/A266,43557,0121,119,060672,922
2025-09-23$26.84$24.0056.1%16.3%30.3%11.5%62.6%-19.9%2.8%29.4M-1.07B-7.3M0.1917.25N/AN/A157,54629,8041,189,210695,616
2025-09-24$26.30$24.0055.1%15.5%30.6%10.4%58.2%-15.9%-2.2%29.4M-987.2M-7.2M0.2121.44N/AN/A115,55524,5591,223,668706,658
2025-09-25$25.42$24.0053.3%15.6%34.1%8.7%64.8%-20.6%3.2%22.2M-855.0M-7.2M0.2818.89N/AN/A142,36639,6511,243,913713,920
2025-09-26$26.16$24.0055.7%15.9%34.9%11.0%65.4%-19.6%-0.4%27.3M-971.9M-7.2M0.2423.14N/AN/A236,96555,7461,257,173726,043
2025-09-29$26.98$24.0057.6%16.0%34.7%13.0%62.4%-28.2%-2.7%25.6M-1.07B-7.4M0.2517.41N/AN/A136,01334,5701,154,474691,959
2025-09-30$27.25$24.0055.5%15.3%33.7%10.8%60.3%-16.3%-3.4%29.2M-1.15B-7.3M0.2215.20N/AN/A95,66021,2581,192,376700,326