GS Options History — September 2025

In September 2025, GS traded between $728.13 and $808.10. ATM implied volatility averaged 28.5%, placing in the 16.7% IV rank vs the trailing year. The 30-day expected move averaged 8.6%. IV traded above realized volatility by 5.2% (HV 20d: 23.3%). Max pain ranged from $695.00 to $745.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 1.02.

Notable Days

  • 2025-09-23: Highest Volume — 43,247 contracts
  • 2025-09-15: Largest IV spike — 9.3% change
  • 2025-09-25: Highest IV Rank — 23.5%
  • 2025-09-30: Largest Expected Move — 9.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$779.48$728.13$808.10$730.12$794.10
Max Pain$720.48$695.00$745.00$710.00$745.00
ATM IV28.5%25.3%31.9%25.9%31.5%
Expected Move8.6%7.6%9.8%7.6%9.8%
HV 20d23.3%20.3%26.8%22.3%20.6%
HV 60d21.8%20.7%23.1%21.7%20.7%
IV Rank16.7%10.2%23.5%11.8%22.8%
IV Percentile61.6%34.1%82.5%42.9%80.6%
Term Structure0.3%-1.4%3.5%-0.0%-0.2%
VWIV31.0%26.9%35.0%27.1%34.7%
Skew 25d2.9%2.1%3.9%3.5%3.2%
Skew 10d6.0%4.6%7.9%7.9%6.3%
Call IV 25d27.3%24.1%30.7%24.5%30.2%
Put IV 25d30.2%26.8%34.1%27.9%33.4%
Bid-Ask Spread %29.436.3556.616.3554.68
Gamma HHI0.050.030.080.030.03
Net GEX104.1M-2.7M200.6M56.0M41.4M
Net DEX-5.18B-6.87B-3.23B-3.26B-4.74B
Net VEX-23.6M-24.9M-22.3M-23.5M-24.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.020.491.640.861.29
Total Volume26,250.90512,22443,24722,15525,003
Total OI276,945255,092304,326256,711275,368

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$730.12$710.0025.9%7.6%22.3%11.8%27.1%3.5%-0.0%56.0M-3.26B-23.5M0.866.3511,90910,246121,731134,980
2025-09-03$728.13$710.0025.8%7.7%22.2%11.6%26.9%3.3%-0.0%51.1M-3.23B-23.4M0.767.739,7747,449124,381138,338
2025-09-04$748.55$695.0025.3%8.0%24.1%10.5%29.5%2.9%-0.1%139.0M-4.39B-23.5M0.6611.8617,38911,474128,217142,385
2025-09-05$739.22$695.0025.3%8.1%24.5%10.2%28.9%3.1%0.1%55.3M-3.83B-23.8M1.2114.4319,23923,273131,416146,142
2025-09-08$740.20$700.0025.4%8.1%24.5%10.5%29.2%3.0%3.0%92.0M-3.88B-23.3M1.068.367,7838,287125,083139,912
2025-09-09$764.66$700.0025.8%8.3%26.8%11.3%30.0%2.4%3.1%155.8M-5.22B-23.3M0.937.8719,09817,767127,968142,605
2025-09-10$769.25$705.0026.0%8.3%24.6%11.7%30.2%2.5%3.0%162.1M-5.41B-23.4M0.988.6012,36312,074131,021146,785
2025-09-11$786.11$710.0026.3%8.3%25.6%12.3%30.4%2.4%3.4%200.6M-6.29B-23.1M0.887.6921,33518,838133,126149,482
2025-09-12$780.68$715.0026.6%8.3%25.8%12.8%30.3%2.2%3.5%125.2M-5.86B-23.8M1.497.7012,43718,513136,007154,056
2025-09-15$787.24$720.0029.1%8.6%24.6%17.9%31.4%2.6%-1.1%126.4M-5.73B-23.2M0.497.3716,2147,947127,784150,358
2025-09-16$787.04$725.0030.3%8.8%24.6%20.2%31.6%2.6%-1.0%133.9M-5.71B-23.9M0.898.448,3037,367132,554153,695
2025-09-17$795.56$725.0030.5%8.7%23.8%20.7%31.3%2.8%-1.2%161.3M-6.22B-23.7M0.8856.6112,69311,180135,234157,367
2025-09-18$803.82$730.0029.5%8.5%23.9%18.7%31.2%2.6%-0.7%177.1M-6.68B-23.1M1.0750.8012,70813,607136,648162,487
2025-09-19$808.10$730.0029.0%8.4%23.3%17.8%29.9%2.1%-0.6%151.1M-6.87B-23.1M0.7851.7113,80910,758137,688166,638
2025-09-22$804.17$730.0029.5%8.7%20.5%18.8%31.0%2.6%-0.2%87.3M-5.52B-22.3M1.1748.765,6376,587117,418137,674
2025-09-23$807.36$735.0031.1%9.1%20.3%22.0%32.2%3.9%-0.5%88.7M-5.54B-23.3M1.3147.3118,75124,496119,195140,332
2025-09-24$793.09$735.0031.1%9.2%21.6%22.0%33.6%3.1%-0.6%25.1M-4.78B-24.3M1.6450.108,92814,632124,998149,100
2025-09-25$793.80$735.0031.9%9.6%21.6%23.5%35.0%3.5%-0.8%-2.7M-4.79B-24.4M0.9352.8414,12913,161127,816152,496
2025-09-26$802.56$735.0030.3%9.2%21.8%20.4%32.7%3.1%-0.3%87.3M-5.46B-24.2M1.0354.7415,88416,410132,504155,303
2025-09-29$805.28$745.0031.8%9.6%21.4%23.3%34.4%3.2%-1.4%71.6M-5.33B-24.4M1.1054.046,5787,239125,705143,848
2025-09-30$794.10$745.0031.5%9.8%20.6%22.8%34.7%3.2%-0.2%41.4M-4.74B-24.9M1.2954.6810,89614,107128,154147,214