IPOS Options History — September 2025

In September 2025, IPOS traded between $15.95 and $17.76. ATM implied volatility averaged 45.3%, placing in the 11.8% IV rank vs the trailing year. The 30-day expected move averaged 11.9%. IV traded above realized volatility by 23.4% (HV 20d: 21.9%). Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 0.00.

Notable Days

  • 2025-09-26: Highest Volume — 10 contracts
  • 2025-09-10: Largest IV drop — 40.8% change
  • 2025-09-09: Highest IV Rank — 24.6%
  • 2025-09-03: Largest Expected Move — 15.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.00$15.95$17.76$16.01$17.76
ATM IV45.3%35.9%68.1%50.9%44.6%
Expected Move11.9%10.3%15.5%14.6%12.8%
HV 20d21.9%18.2%26.7%20.8%26.0%
HV 60d22.9%21.7%23.9%23.4%23.5%
IV Rank11.8%6.5%24.6%14.9%11.4%
IV Percentile17.2%1.6%66.7%20.6%19.0%
Term Structure-9.0%-18.5%-4.5%-14.1%-12.1%
Skew 25d1.3%-1.0%3.4%1.0%2.2%
Skew 10d8.7%4.4%31.3%5.8%10.5%
Call IV 25d48.6%42.6%64.1%62.6%55.3%
Put IV 25d49.9%43.4%63.6%63.6%57.5%
Bid-Ask Spread %162.99158.67168.49162.37158.67
Gamma HHI0.920.600.990.900.60
Net GEX6884011.1K446824
Net DEX-16.9K-36.4K-7.7K-8.1K-36.1K
Net VEX-62-90-44-45-90
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.000.000.00
Total Volume0.76201000
Total OI15.71411271127

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$16.01$0.0050.9%14.6%20.8%14.9%0.0%1.0%-14.1%446-8.1K-450.00162.37N/AN/A00110
2025-09-03$16.08$0.0054.2%15.5%18.4%16.8%0.0%-0.6%-18.5%401-8.5K-460.00161.82N/AN/A00110
2025-09-04$15.95$0.0051.3%10.3%18.6%15.2%0.0%0.5%-5.3%474-7.7K-440.00168.26N/AN/A00110
2025-09-05$16.39$0.0057.0%11.1%19.6%18.4%0.0%0.5%-7.1%517-9.2K-460.00168.49N/AN/A00110
2025-09-08$16.62$0.0055.5%10.3%18.5%17.5%0.0%1.0%-6.1%512-10.0K-460.00165.46N/AN/A30110
2025-09-09$16.50$0.0068.1%11.8%18.2%24.6%0.0%-0.3%-9.4%687-12.0K-590.00165.62N/AN/A10140
2025-09-10$16.49$0.0040.4%11.6%18.2%9.0%0.0%0.4%-7.0%777-12.6K-630.00164.52N/AN/A00150
2025-09-11$17.02$0.0035.9%10.3%20.6%6.5%0.0%2.8%-4.5%786-15.5K-630.00165.13N/AN/A00150
2025-09-12$17.12$0.0036.8%10.5%20.1%7.0%0.0%2.2%-7.1%789-16.1K-620.00164.34N/AN/A00150
2025-09-15$17.19$0.0039.0%11.2%19.8%8.2%0.0%1.1%-7.8%716-16.3K-620.00162.48N/AN/A00150
2025-09-16$17.63$0.0038.0%10.9%21.3%7.6%0.0%3.1%-6.5%522-17.6K-610.00162.23N/AN/A00150
2025-09-17$17.23$0.0037.6%10.8%23.3%7.4%0.0%1.1%-5.5%796-16.7K-600.00159.35N/AN/A00150
2025-09-18$17.16$0.0040.4%11.6%22.4%9.0%0.0%0.9%-8.3%606-15.9K-620.00160.19N/AN/A20150
2025-09-19$17.55$0.0040.6%11.6%23.4%9.1%0.0%2.9%-7.5%594-19.5K-700.00162.63N/AN/A00170
2025-09-22$17.38$0.0042.3%12.1%23.7%10.1%0.0%0.7%-9.3%730-19.2K-690.00162.84N/AN/A00170
2025-09-23$17.11$0.0042.3%12.1%24.7%10.1%0.0%-1.0%-10.0%721-17.7K-700.00160.99N/AN/A00170
2025-09-24$17.41$0.0043.3%12.4%25.2%10.6%0.0%2.3%-9.8%820-19.6K-680.00161.87N/AN/A00170
2025-09-25$17.66$0.0044.3%12.7%25.1%11.2%0.0%3.4%-10.3%616-20.1K-670.00161.34N/AN/A00170
2025-09-26$17.26$0.0041.8%12.0%26.7%9.8%0.0%1.6%-7.4%1.0K-19.3K-660.00161.98N/AN/A100170
2025-09-29$17.44$0.0047.2%13.5%25.8%12.8%0.0%0.8%-14.6%1.1K-36.4K-780.00162.24N/AN/A00270
2025-09-30$17.76$0.0044.6%12.8%26.0%11.4%0.0%2.2%-12.1%824-36.1K-900.00158.67N/AN/A00270