GME Options History — December 2025

In December 2025, GME traded between $20.06 and $23.40. ATM implied volatility averaged 46.6%, placing in the 10.2% IV rank vs the trailing year. The 30-day expected move averaged 13.5%. IV traded above realized volatility by 13.0% (HV 20d: 33.6%). Max pain ranged from $20.00 to $22.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.18.

Notable Days

2025-12-10: Highest Volume — 312,267 contracts
2025-12-10: Largest IV drop — 33.7% change
2025-12-03: Highest IV Rank — 29.6%
2025-12-03: Largest Expected Move — 20.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$22.09	$20.06	$23.40	$22.73	$20.06
Max Pain	$21.00	$20.00	$22.00	$22.00	$22.00
ATM IV	46.6%	36.8%	64.1%	61.2%	40.1%
Expected Move	13.5%	10.4%	20.5%	19.1%	10.9%
HV 20d	33.6%	25.6%	39.8%	27.6%	36.0%
HV 60d	31.7%	29.9%	33.3%	32.6%	30.4%
IV Rank	10.2%	0.0%	29.6%	24.4%	3.9%
IV Percentile	12.7%	0.0%	46.0%	35.3%	3.6%
Term Structure	0.7%	-6.5%	7.6%	-6.5%	1.3%
VWIV	53.8%	41.1%	75.9%	70.4%	43.1%
Skew 25d	-4.1%	-7.4%	-1.1%	-6.0%	-2.3%
Skew 10d	-12.0%	-19.2%	-5.1%	-6.1%	-11.1%
Call IV 25d	51.8%	40.6%	68.9%	64.7%	44.5%
Put IV 25d	47.6%	37.7%	64.6%	58.7%	42.2%
Bid-Ask Spread %	19.23	10.46	44.36	18.52	13.56
Gamma HHI	0.13	0.09	0.29	0.11	0.09
Net GEX	16.1M	5.3M	28.6M	19.3M	5.3M
Net DEX	-369.4M	-568.4M	-124.6M	-488.0M	-124.6M
Net VEX	-2.9M	-3.1M	-2.6M	-2.6M	-2.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.18	0.09	0.29	0.12	0.19
Total Volume	164,071.909	35,681	312,267	196,949	141,571
Total OI	901,435.545	739,836	1,013,620	739,836	928,667

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-12-01	$22.73	$22.00	61.2%	19.1%	27.6%	24.4%	70.4%	-6.0%	-6.5%	19.3M	-488.0M	-2.6M	0.12	18.52	N/A	N/A	175,649	21,300	588,939	150,897
2025-12-02	$22.90	$22.00	59.1%	19.3%	27.3%	23.2%	72.9%	-4.8%	1.8%	22.3M	-524.3M	-2.7M	0.10	21.67	N/A	N/A	195,435	19,918	627,967	159,065
2025-12-03	$23.20	$22.00	64.1%	20.5%	27.6%	29.6%	75.9%	-6.0%	-0.6%	24.5M	-568.4M	-2.8M	0.19	17.50	N/A	N/A	131,847	25,616	667,138	166,392
2025-12-04	$22.94	$20.00	62.4%	17.4%	28.0%	27.4%	66.8%	-1.7%	-3.8%	23.9M	-523.9M	-2.9M	0.21	29.23	N/A	N/A	135,388	28,337	690,173	173,827
2025-12-05	$22.92	$20.00	59.1%	16.6%	25.6%	23.3%	74.8%	-2.0%	0.6%	23.4M	-493.5M	-2.9M	0.09	21.54	N/A	N/A	227,104	21,011	716,396	188,157
2025-12-08	$23.23	$20.00	60.9%	17.2%	25.9%	25.5%	67.2%	-4.3%	1.2%	15.5M	-513.2M	-3.1M	0.22	18.96	N/A	N/A	96,866	20,877	644,536	175,833
2025-12-09	$23.40	$20.00	62.1%	16.9%	25.9%	27.0%	66.3%	-2.9%	0.2%	16.4M	-551.9M	-3.1M	0.29	17.75	N/A	N/A	131,862	37,867	679,622	186,337
2025-12-10	$22.21	$20.00	41.2%	12.7%	32.7%	1.1%	48.8%	-3.9%	7.6%	12.3M	-327.5M	-2.8M	0.22	44.36	N/A	N/A	256,242	56,025	727,612	208,520
2025-12-11	$21.88	$20.00	39.1%	11.7%	33.0%	0.0%	48.4%	-2.6%	2.0%	10.7M	-286.4M	-2.9M	0.14	29.57	N/A	N/A	148,303	20,607	758,395	216,967
2025-12-12	$21.23	$20.00	36.8%	11.3%	34.2%	0.0%	45.5%	-1.9%	5.2%	8.6M	-197.8M	-2.7M	0.28	13.46	N/A	N/A	158,754	44,386	787,299	216,327
2025-12-15	$22.13	$20.00	42.4%	12.2%	36.7%	6.7%	49.2%	-6.0%	-0.2%	15.8M	-375.8M	-3.0M	0.12	15.80	N/A	N/A	216,484	26,129	676,151	185,427
2025-12-16	$22.23	$20.00	41.8%	12.0%	36.3%	5.9%	48.4%	-4.7%	-0.0%	21.4M	-399.0M	-3.0M	0.16	14.55	N/A	N/A	96,189	15,793	740,030	190,317
2025-12-17	$23.05	$21.00	42.5%	12.2%	38.0%	6.7%	48.7%	-7.1%	1.5%	28.6M	-555.5M	-3.1M	0.17	16.93	N/A	N/A	167,346	29,200	766,013	193,733
2025-12-18	$22.71	$21.00	42.0%	12.1%	38.5%	6.2%	46.9%	-4.1%	-1.2%	27.8M	-473.3M	-3.1M	0.19	20.17	N/A	N/A	99,652	19,179	789,248	202,668
2025-12-19	$22.38	$21.00	39.2%	11.3%	38.1%	2.8%	44.6%	-4.2%	-1.1%	21.4M	-398.0M	-3.1M	0.16	14.53	N/A	N/A	135,759	21,943	803,835	209,785
2025-12-22	$21.77	$21.00	37.8%	11.1%	39.8%	1.1%	42.6%	-1.1%	3.0%	13.8M	-292.6M	-2.9M	0.21	15.56	N/A	N/A	129,398	26,705	676,245	178,282
2025-12-23	$21.37	$22.00	37.6%	10.8%	39.8%	0.9%	46.1%	-7.4%	-0.3%	8.8M	-236.3M	-3.0M	0.25	23.89	N/A	N/A	110,897	28,245	706,628	195,874
2025-12-24	$21.51	$22.00	39.5%	11.2%	38.9%	3.2%	48.7%	-6.4%	1.6%	11.0M	-268.7M	-3.1M	0.16	15.56	N/A	N/A	30,859	4,822	723,758	215,894
2025-12-26	$21.10	$22.00	38.2%	10.4%	37.5%	1.6%	42.9%	-3.8%	2.1%	8.6M	-203.7M	-2.9M	0.23	15.85	N/A	N/A	102,982	23,635	734,115	216,589
2025-12-29	$20.52	$22.00	38.8%	10.6%	36.2%	2.3%	44.9%	-4.1%	1.8%	7.1M	-164.9M	-2.8M	0.18	13.71	N/A	N/A	105,428	18,737	657,388	207,890
2025-12-30	$20.51	$22.00	38.6%	10.4%	35.9%	2.2%	41.1%	-3.7%	-0.8%	7.5M	-159.4M	-2.8M	0.17	10.46	N/A	N/A	89,562	15,673	686,986	215,660
2025-12-31	$20.06	$22.00	40.1%	10.9%	36.0%	3.9%	43.1%	-2.3%	1.3%	5.3M	-124.6M	-2.8M	0.19	13.56	N/A	N/A	118,573	22,998	706,267	222,400