HIVE Options History — December 2025

In December 2025, HIVE traded between $2.56 and $3.35. ATM implied volatility averaged 101.4%, placing in the 30.2% IV rank vs the trailing year. The 30-day expected move averaged 29.6%. IV traded above realized volatility by 21.2% (HV 20d: 80.2%). Max pain ranged from $2.00 to $3.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.21.

Notable Days

2025-12-09: Highest Volume — 12,088 contracts
2025-12-05: Largest IV spike — 36.7% change
2025-12-12: Highest IV Rank — 43.9%
2025-12-02: Largest Expected Move — 33.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$2.96	$2.56	$3.35	$3.17	$2.56
Max Pain	$2.50	$2.00	$3.00	$3.00	$2.50
ATM IV	101.4%	83.3%	123.9%	111.9%	93.3%
Expected Move	29.6%	25.6%	33.6%	33.3%	28.6%
HV 20d	80.2%	56.0%	98.5%	98.4%	56.0%
HV 60d	105.3%	89.3%	111.8%	111.8%	89.3%
IV Rank	30.2%	19.2%	43.9%	36.6%	25.2%
IV Percentile	46.0%	25.4%	73.8%	56.7%	35.7%
Term Structure	3.6%	-49.0%	90.2%	90.2%	9.8%
VWIV	105.5%	95.7%	120.2%	120.2%	98.0%
Skew 25d	-10.6%	-50.5%	15.0%	-6.7%	-3.9%
Skew 10d	23.7%	-64.1%	121.9%	-10.4%	57.6%
Call IV 25d	109.3%	86.7%	145.3%	113.3%	87.9%
Put IV 25d	98.6%	82.9%	120.3%	106.6%	83.9%
Bid-Ask Spread %	49.44	36.82	63.75	53.91	47.40
Gamma HHI	0.13	0.11	0.15	0.13	0.13
Net GEX	290.2K	201.6K	410.3K	337.4K	203.8K
Net DEX	-22.7M	-31.5M	-14.5M	-27.4M	-14.5M
Net VEX	-148.1K	-179.0K	-116.9K	-166.1K	-116.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.21	0.04	0.64	0.38	0.06
Total Volume	6,990.727	1,984	12,088	9,413	7,097
Total OI	353,711.864	315,175	376,604	357,831	318,084

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	$3.17	$3.00	111.9%	33.3%	98.4%	36.6%	120.2%	-6.7%	90.2%	337.4K	-27.4M	-166.1K	0.38	53.91	N/A	N/A	6,823	2,590	312,004	45,827
2025-12-02	$3.21	$3.00	116.1%	33.6%	96.3%	39.2%	109.6%	-33.4%	-22.8%	343.1K	-27.9M	-159.4K	0.04	44.50	N/A	N/A	9,937	413	314,681	46,834
2025-12-03	$3.29	$3.00	94.0%	27.2%	95.8%	25.7%	106.6%	-8.9%	17.8%	381.7K	-29.2M	-172.9K	0.14	43.24	N/A	N/A	4,307	592	316,847	47,120
2025-12-04	$3.35	$2.50	86.7%	32.2%	95.9%	21.3%	113.2%	15.0%	19.4%	410.3K	-31.5M	-179.0K	0.11	54.04	N/A	N/A	8,689	994	318,498	47,464
2025-12-05	$3.13	$2.50	118.6%	29.2%	96.5%	40.7%	110.7%	10.7%	27.9%	335.1K	-27.4M	-169.2K	0.17	63.75	N/A	N/A	5,865	1,012	322,618	48,052
2025-12-08	$3.12	$2.50	96.9%	29.7%	96.7%	27.4%	95.7%	2.7%	1.9%	313.9K	-25.7M	-161.4K	0.40	53.91	N/A	N/A	5,322	2,102	318,002	46,884
2025-12-09	$3.23	$2.50	93.9%	30.8%	98.1%	25.6%	108.6%	-12.7%	23.9%	352.3K	-27.8M	-172.2K	0.12	60.40	N/A	N/A	10,769	1,319	320,065	47,875
2025-12-10	$3.25	$2.50	113.1%	30.8%	98.5%	37.3%	101.7%	4.1%	-22.1%	360.9K	-30.2M	-167.0K	0.16	63.38	N/A	N/A	4,293	696	325,528	48,270
2025-12-11	$3.25	$2.50	97.2%	30.6%	92.4%	27.6%	106.9%	-50.5%	6.8%	341.9K	-29.9M	-164.1K	0.38	48.94	N/A	N/A	5,289	2,013	326,740	48,899
2025-12-12	$3.06	$2.50	123.9%	29.6%	86.1%	43.9%	103.4%	-32.0%	-39.4%	294.0K	-27.0M	-163.9K	0.17	55.24	N/A	N/A	7,456	1,277	327,470	49,134
2025-12-15	$2.80	$2.50	103.5%	29.9%	84.7%	31.5%	116.2%	-24.9%	-2.3%	216.7K	-19.2M	-143.8K	0.32	46.62	N/A	N/A	6,094	1,975	325,100	47,488
2025-12-16	$2.81	$2.50	106.2%	30.3%	80.8%	33.1%	107.1%	-10.3%	-2.2%	211.8K	-17.1M	-132.5K	0.19	44.91	N/A	N/A	3,742	725	324,854	48,611
2025-12-17	$2.71	$2.50	107.8%	30.9%	81.2%	34.1%	104.5%	-7.2%	48.6%	201.6K	-17.2M	-135.0K	0.14	48.48	N/A	N/A	4,841	656	326,129	48,710
2025-12-18	$2.69	$2.50	103.7%	30.7%	70.1%	31.6%	97.6%	-23.4%	-49.0%	242.6K	-16.3M	-131.2K	0.28	36.82	N/A	N/A	3,180	901	327,401	48,677
2025-12-19	$2.84	$2.00	100.6%	30.7%	70.9%	29.7%	109.6%	-10.8%	-23.2%	267.8K	-16.8M	-138.0K	0.15	39.04	N/A	N/A	6,302	939	327,950	47,902
2025-12-22	$2.90	$2.00	95.3%	29.0%	71.0%	26.5%	102.0%	-14.8%	3.4%	286.8K	-20.8M	-134.6K	0.16	42.62	N/A	N/A	7,687	1,242	282,098	34,059
2025-12-23	$2.88	$2.00	91.2%	27.1%	60.0%	24.0%	108.7%	7.2%	9.3%	298.1K	-20.5M	-137.8K	0.15	47.44	N/A	N/A	5,668	829	285,371	34,721
2025-12-24	$2.84	$2.50	83.3%	27.7%	60.1%	19.2%	96.6%	10.8%	14.0%	285.8K	-21.1M	-138.5K	0.64	51.52	N/A	N/A	1,213	771	286,003	35,379
2025-12-26	$2.74	$2.50	103.2%	27.2%	60.4%	31.3%	103.0%	-6.2%	-33.7%	247.3K	-18.0M	-127.3K	0.08	42.92	N/A	N/A	5,025	403	286,148	35,959
2025-12-29	$2.69	$2.50	98.8%	27.4%	58.4%	28.6%	95.9%	-21.6%	1.2%	231.9K	-17.3M	-125.4K	0.28	50.89	N/A	N/A	5,870	1,648	280,530	34,645
2025-12-30	$2.63	$2.50	90.7%	25.6%	56.3%	23.7%	105.2%	-16.6%	-1.1%	220.5K	-16.4M	-123.1K	0.04	47.64	N/A	N/A	5,029	201	281,605	35,425
2025-12-31	$2.56	$2.50	93.3%	28.6%	56.0%	25.2%	98.0%	-3.9%	9.8%	203.8K	-14.5M	-116.9K	0.06	47.40	N/A	N/A	6,687	410	282,598	35,486