HLN Options History — November 2025

In November 2025, HLN traded between $9.34 and $9.91. ATM implied volatility averaged 23.8%, placing in the 14.1% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 3.3% (HV 20d: 20.4%). Max pain ranged from $7.50 to $10.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 0.12.

Notable Days

2025-11-11: Highest Volume — 385 contracts
2025-11-21: Largest IV spike — 29.1% change
2025-11-14: Highest IV Rank — 20.8%
2025-11-14: Largest Expected Move — 8.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$9.64	$9.34	$9.91	$9.39	$9.77
Max Pain	$7.89	$7.50	$10.00	$10.00	$7.50
ATM IV	23.8%	18.3%	30.3%	20.1%	25.1%
Expected Move	7.1%	5.7%	8.7%	5.8%	7.2%
HV 20d	20.4%	17.9%	23.2%	19.4%	22.0%
HV 60d	20.7%	19.5%	22.2%	19.8%	21.9%
IV Rank	14.1%	8.5%	20.8%	10.4%	15.5%
IV Percentile	57.1%	20.6%	82.1%	35.7%	65.9%
Term Structure	5.9%	-16.7%	66.2%	13.8%	12.5%
VWIV	20.8%	13.2%	29.4%	18.2%	16.5%
Skew 25d	79.5%	3.8%	204.4%	14.1%	204.4%
Skew 10d	105.2%	14.0%	246.7%	28.7%	246.7%
Call IV 25d	26.8%	13.5%	34.8%	28.3%	25.4%
Put IV 25d	106.3%	32.4%	229.7%	42.5%	229.7%
Bid-Ask Spread %	99.48	59.87	121.17	60.11	104.95
Gamma HHI	0.83	0.67	0.91	0.87	0.80
Net GEX	47.0K	25.3K	103.2K	35.5K	40.6K
Net DEX	-416.9K	-689.3K	-152.7K	-209.1K	-522.9K
Net VEX	-2.4K	-2.9K	-1.9K	-2.0K	-2.7K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.12	0.00	0.81	0.12	0.00
Total Volume	86.947	2	385	298	21
Total OI	3,279.474	2,048	3,768	3,485	2,221

Daily Data (19 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 Vol	Put Vol	Call OI	Put OI
2025-11-03	$9.39	$10.00	20.1%	5.8%	19.4%	10.4%	18.2%	14.1%	13.8%	35.5K	-209.1K	-2.0K	0.12	60.11	265	33	3,123	362
2025-11-04	$9.34	$10.00	19.8%	5.7%	19.6%	10.0%	0.0%	3.8%	11.2%	27.1K	-152.7K	-1.9K	0.00	59.87	10	0	3,015	371
2025-11-05	$9.34	$10.00	22.3%	6.4%	17.9%	12.6%	20.2%	11.2%	6.0%	30.9K	-198.1K	-2.0K	0.00	60.69	67	0	3,025	371
2025-11-06	$9.43	$7.50	20.8%	6.0%	18.0%	11.0%	13.2%	41.0%	8.7%	33.1K	-234.7K	-1.9K	0.00	112.29	24	0	3,087	371
2025-11-07	$9.48	$7.50	18.3%	7.4%	17.9%	8.5%	24.5%	140.3%	-0.9%	35.1K	-253.8K	-2.0K	0.29	106.77	21	6	3,101	371
2025-11-10	$9.57	$7.50	21.3%	7.4%	17.9%	11.6%	0.0%	26.5%	0.2%	44.1K	-350.0K	-2.1K	0.16	120.17	77	12	3,096	375
2025-11-11	$9.84	$7.50	20.8%	7.1%	19.9%	11.0%	23.9%	127.5%	-0.5%	73.0K	-515.9K	-2.2K	0.01	104.10	383	2	3,048	373
2025-11-12	$9.91	$7.50	24.0%	6.9%	19.9%	14.4%	22.2%	134.2%	1.2%	103.2K	-681.1K	-2.9K	0.02	106.59	44	1	3,271	372
2025-11-13	$9.91	$7.50	25.2%	7.2%	19.9%	15.5%	0.0%	133.6%	-0.5%	103.1K	-689.3K	-2.8K	0.56	113.41	71	40	3,250	371
2025-11-14	$9.59	$7.50	30.3%	8.7%	21.4%	20.8%	0.0%	20.5%	-16.7%	48.8K	-428.2K	-2.6K	0.05	121.17	19	1	3,296	410
2025-11-17	$9.68	$7.50	25.5%	7.3%	21.3%	15.9%	0.0%	32.9%	-3.9%	58.8K	-416.1K	-2.5K	0.00	105.00	2	0	3,283	410
2025-11-18	$9.61	$7.50	24.7%	7.1%	21.2%	15.0%	21.8%	38.7%	3.8%	47.6K	-397.9K	-2.5K	0.81	104.05	31	25	3,283	410
2025-11-19	$9.54	$7.50	24.4%	7.0%	20.9%	14.7%	19.2%	38.8%	5.4%	40.4K	-422.6K	-2.6K	0.03	105.75	61	2	3,279	397
2025-11-20	$9.61	$7.50	21.8%	6.2%	20.5%	12.1%	18.4%	152.2%	66.2%	48.1K	-459.9K	-2.6K	0.00	110.53	17	0	3,379	384
2025-11-21	$9.86	$7.50	28.1%	8.1%	21.8%	18.5%	29.4%	152.2%	-1.0%	25.3K	-475.0K	-2.6K	0.18	91.44	119	21	3,384	384
2025-11-24	$9.66	$7.50	26.1%	7.5%	23.2%	16.4%	22.5%	26.9%	1.1%	26.0K	-447.4K	-2.4K	0.00	95.90	217	0	1,713	335
2025-11-25	$9.79	$7.50	27.5%	7.9%	23.0%	17.9%	22.7%	25.3%	-3.4%	34.5K	-525.0K	-2.6K	0.00	102.47	44	0	1,845	335
2025-11-26	$9.77	$7.50	25.4%	7.3%	22.7%	15.8%	18.5%	185.8%	10.0%	38.2K	-540.7K	-2.7K	0.00	104.92	16	0	1,874	335
2025-11-28	$9.77	$7.50	25.1%	7.2%	22.0%	15.5%	16.5%	204.4%	12.5%	40.6K	-522.9K	-2.7K	0.00	104.95	21	0	1,886	335