HLN Options History — September 2025

In September 2025, HLN traded between $8.73 and $9.89. ATM implied volatility averaged 22.8%, placing in the 13.1% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 4.7% (HV 20d: 18.1%). Max pain ranged from $7.50 to $10.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 17 of 21 days. Put/call ratio averaged 0.20.

Notable Days

  • 2025-09-22: Highest Volume — 732 contracts
  • 2025-09-05: Largest IV spike — 81.5% change
  • 2025-09-30: Highest IV Rank — 27.2%
  • 2025-09-30: Largest Expected Move — 10.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$9.39$8.73$9.89$9.75$8.98
Max Pain$9.52$7.50$10.00$10.00$10.00
ATM IV22.8%13.6%36.7%23.4%36.7%
Expected Move6.4%4.1%10.5%6.7%10.5%
HV 20d18.1%13.5%22.1%18.1%22.1%
HV 60d18.5%16.9%20.2%17.4%20.2%
IV Rank13.1%3.7%27.2%13.7%27.2%
IV Percentile51.3%4.8%93.3%63.9%93.3%
Term Structure3.6%-4.7%10.6%-1.8%6.9%
VWIV25.3%14.7%58.3%23.4%39.9%
Skew 25d41.7%-0.5%186.8%186.8%18.6%
Skew 10d55.6%0.5%233.0%205.2%19.5%
Call IV 25d28.3%17.7%70.3%47.2%24.2%
Put IV 25d70.0%25.3%234.0%234.0%42.8%
Bid-Ask Spread %85.1167.75107.0582.9983.10
Gamma HHI0.820.680.880.820.80
Net GEX36.5K13.3K61.5K39.2K30.5K
Net DEX-255.6K-515.1K57.2K-355.0K-162.2K
Net VEX-2.1K-2.4K-1.2K-2.0K-2.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.200.002.350.002.35
Total Volume137.524177322577
Total OI3,013.0952,4593,7552,4593,755

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$9.75$10.0023.4%6.7%18.1%13.7%23.4%186.8%-1.8%39.2K-355.0K-2.0K0.0082.992502,157302
2025-09-03$9.89$10.0018.9%5.4%15.4%9.1%58.3%156.3%0.8%50.1K-464.2K-2.1K0.0481.265222,169302
2025-09-04$9.84$7.5013.6%5.4%15.6%3.7%18.8%5.8%3.5%52.1K-417.0K-2.0K0.0078.424702,180302
2025-09-05$9.75$7.5024.6%5.0%14.8%14.9%14.7%33.3%8.3%42.9K-395.2K-2.0K0.00107.0526202,217302
2025-09-08$9.71$7.5025.7%6.0%14.8%16.0%20.9%30.2%1.7%50.4K-455.1K-2.3K0.0886.883632,409302
2025-09-09$9.75$7.5023.7%5.9%14.6%14.0%20.4%30.6%3.2%54.4K-479.3K-2.3K0.3586.61273952,417302
2025-09-10$9.80$10.0017.0%4.9%14.1%7.2%0.0%26.1%0.8%54.4K-453.2K-2.4K0.00102.004102,425397
2025-09-11$9.88$10.0020.8%6.0%13.5%11.0%20.8%29.0%4.4%61.5K-515.1K-2.4K0.0085.857502,430397
2025-09-12$9.80$10.0020.6%5.9%13.9%10.8%20.6%31.9%2.2%59.7K-481.0K-2.4K0.1087.442122,511397
2025-09-15$9.68$10.0022.5%6.5%14.4%12.8%22.5%34.5%1.9%45.7K-320.2K-2.2K0.0490.022612,522399
2025-09-16$9.27$10.0021.2%6.1%21.0%11.5%23.8%32.4%-2.4%30.0K-161.4K-1.8K0.5490.5039212,530400
2025-09-17$9.39$10.0014.3%4.1%21.4%4.4%0.0%147.3%10.5%33.2K-193.7K-1.9K0.0090.991702,518388
2025-09-18$9.25$10.0025.0%7.2%20.8%15.3%0.0%46.7%9.0%19.6K-120.1K-1.8K0.0495.2110142,533387
2025-09-19$9.16$10.0024.4%7.0%20.8%14.7%24.4%-0.5%-4.7%19.3K-95.1K-1.8K0.1480.89370532,551389
2025-09-22$9.02$10.0018.4%5.3%21.2%8.6%20.2%6.0%-3.4%13.3K57.2K-1.2K0.1779.566271052,551381
2025-09-23$8.93$10.0018.0%5.2%20.9%8.2%17.9%25.8%7.2%19.9K-8.7K-1.6K0.1379.50234302,965458
2025-09-24$8.88$10.0021.5%6.2%20.9%11.8%0.0%10.0%10.6%24.3K-111.0K-2.2K0.0567.759253,146447
2025-09-25$8.73$10.0031.1%8.9%20.7%21.5%0.0%6.0%3.0%18.9K-47.0K-2.0K0.0668.635233,226439
2025-09-26$8.82$10.0022.9%6.6%21.4%13.2%33.1%7.0%6.7%22.5K-82.0K-2.1K0.0479.932313,241441
2025-09-29$8.84$10.0035.3%10.1%20.9%25.8%0.0%11.9%8.3%25.0K-107.8K-2.2K0.0082.647303,248442
2025-09-30$8.98$10.0036.7%10.5%22.1%27.2%39.9%18.6%6.9%30.5K-162.2K-2.4K2.3583.1023543,313442