IBRN Options History — December 2025

In December 2025, IBRN traded between $28.19 and $33.86. ATM implied volatility averaged 52.8%, placing in the 8.6% IV rank vs the trailing year. The 30-day expected move averaged 13.3%. IV traded below realized volatility by 96.2% (HV 20d: 149.1%). Max pain ranged from $24.00 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 2 of 22 days. Put/call ratio averaged 0.00.

Notable Days

2025-12-16: Highest Volume — 4 contracts
2025-12-04: Largest IV spike — 166.4% change
2025-12-05: Highest IV Rank — 34.3%
2025-12-30: Largest Expected Move — 22.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$30.96	$28.19	$33.86	$31.25	$33.03
Max Pain	$24.86	$24.00	$25.00	$24.00	$25.00
ATM IV	52.8%	28.1%	126.7%	37.5%	34.9%
Expected Move	13.3%	8.1%	22.1%	10.8%	10.0%
HV 20d	149.1%	113.4%	183.6%	178.2%	149.0%
HV 60d	163.8%	153.5%	175.2%	153.5%	175.2%
IV Rank	8.6%	0.0%	34.3%	3.2%	2.4%
IV Percentile	45.0%	0.0%	93.3%	30.6%	17.5%
Term Structure	-17.1%	-48.9%	2.5%	-7.5%	-6.2%
Skew 25d	3.6%	-1.7%	8.5%	5.2%	7.6%
Skew 10d	28.6%	5.0%	68.2%	9.4%	10.4%
Call IV 25d	42.9%	28.9%	66.1%	39.7%	35.6%
Put IV 25d	46.5%	33.7%	68.9%	45.0%	43.2%
Bid-Ask Spread %	136.80	133.09	147.61	147.61	134.18
Gamma HHI	0.46	0.31	0.85	0.31	0.85
Net GEX	306	115	661	536	243
Net DEX	-26.1K	-47.3K	-6.7K	-41.2K	-10.4K
Net VEX	-22	-44	-14	-27	-14
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.182	0	4	0	0
Total OI	10.5	4	15	15	4

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	Spread %	Call Wall	Put Wall	Call Vol	Call OI
2025-12-01	$31.25	$24.00	37.5%	10.8%	178.2%	3.2%	0.0%	5.2%	-7.5%	536	-41.2K	-27	147.61	N/A	N/A	0	15
2025-12-02	$30.33	$24.00	37.4%	10.7%	178.8%	3.1%	0.0%	1.9%	-9.8%	661	-38.9K	-28	143.19	N/A	N/A	0	15
2025-12-03	$30.84	$24.00	35.8%	10.3%	178.6%	2.6%	0.0%	3.7%	-8.7%	550	-41.0K	-24	143.23	N/A	N/A	0	15
2025-12-04	$28.19	$25.00	95.3%	17.2%	182.5%	23.4%	0.0%	0.5%	-31.7%	410	-26.6K	-44	134.42	N/A	N/A	0	15
2025-12-05	$28.19	$25.00	126.7%	21.8%	182.5%	34.3%	0.0%	0.8%	-48.9%	327	-26.9K	-43	137.79	N/A	N/A	0	15
2025-12-08	$33.59	$25.00	45.8%	8.1%	173.3%	6.1%	0.0%	4.8%	-0.8%	279	-47.3K	-18	136.66	N/A	N/A	0	15
2025-12-09	$29.77	$25.00	89.5%	14.6%	179.5%	21.3%	0.0%	2.6%	-24.6%	445	-30.4K	-39	137.13	N/A	N/A	0	15
2025-12-10	$33.42	$25.00	29.4%	8.4%	183.6%	0.3%	0.0%	8.2%	2.4%	309	-43.3K	-19	136.12	N/A	N/A	0	14
2025-12-11	$33.42	$25.00	28.1%	8.1%	148.0%	0.0%	0.0%	6.8%	2.5%	270	-43.7K	-17	136.14	N/A	N/A	0	14
2025-12-12	$32.59	$25.00	30.2%	8.7%	113.4%	0.7%	0.0%	3.4%	-1.8%	271	-42.5K	-17	136.93	N/A	N/A	0	14
2025-12-15	$28.89	$25.00	64.0%	18.4%	119.4%	12.5%	0.0%	2.7%	-40.0%	376	-26.0K	-31	134.53	N/A	N/A	0	14
2025-12-16	$31.29	$25.00	34.8%	10.0%	122.2%	2.3%	0.0%	0.1%	-6.2%	287	-33.6K	-18	133.57	N/A	N/A	4	12
2025-12-17	$32.09	$25.00	29.7%	8.5%	122.4%	0.5%	0.0%	2.9%	-1.3%	216	-28.9K	-16	135.06	N/A	N/A	0	10
2025-12-18	$28.99	$25.00	54.0%	15.5%	127.6%	9.0%	0.0%	-1.7%	-22.3%	358	-18.9K	-22	136.63	N/A	N/A	0	10
2025-12-19	$28.99	$25.00	61.6%	17.7%	125.3%	11.7%	0.0%	1.8%	-26.9%	125	-24.1K	-19	134.14	N/A	N/A	0	10
2025-12-22	$31.95	$25.00	30.3%	8.7%	130.0%	0.8%	0.0%	1.2%	-4.1%	209	-10.0K	-15	133.09	N/A	N/A	0	4
2025-12-23	$28.99	$25.00	74.3%	21.3%	134.1%	16.1%	0.0%	5.2%	-40.6%	115	-6.7K	-18	135.71	N/A	N/A	0	4
2025-12-24	$29.18	$25.00	76.8%	22.0%	134.1%	17.0%	0.0%	5.8%	-42.0%	117	-6.8K	-18	138.91	N/A	N/A	0	4
2025-12-26	$32.86	$25.00	30.9%	8.9%	140.4%	1.0%	0.0%	3.4%	-6.3%	191	-10.4K	-14	133.35	N/A	N/A	0	4
2025-12-29	$33.86	$25.00	38.3%	11.0%	133.7%	3.5%	0.0%	8.5%	-5.0%	290	-10.9K	-14	133.72	N/A	N/A	0	4
2025-12-30	$29.36	$25.00	77.2%	22.1%	143.1%	17.1%	0.0%	2.8%	-47.1%	137	-6.8K	-17	137.49	N/A	N/A	0	4
2025-12-31	$33.03	$25.00	34.9%	10.0%	149.0%	2.4%	0.0%	7.6%	-6.2%	243	-10.4K	-14	134.18	N/A	N/A	0	4