IT Options History — December 2025

In December 2025, IT traded between $227.53 and $255.03. ATM implied volatility averaged 35.1%, placing in the 32.3% IV rank vs the trailing year. The 30-day expected move averaged 10.0%. IV traded above realized volatility by 7.5% (HV 20d: 27.7%). Max pain ranged from $230.00 to $240.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 1.18.

Notable Days

  • 2025-12-15: Highest Volume — 973 contracts
  • 2025-12-30: Largest IV drop — 8.4% change
  • 2025-12-01: Highest IV Rank — 41.8%
  • 2025-12-01: Largest Expected Move — 11.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$241.83$227.53$255.03$231.58$252.65
Max Pain$235.00$230.00$240.00$230.00$240.00
ATM IV35.1%30.4%40.3%40.3%32.7%
Expected Move10.0%8.7%11.5%11.5%9.4%
HV 20d27.7%21.0%44.7%44.7%21.3%
HV 60d39.7%37.7%41.6%41.6%37.7%
IV Rank32.3%23.6%41.8%41.8%27.9%
IV Percentile55.5%36.9%75.8%75.8%41.7%
Term Structure7.7%-3.1%12.7%-3.1%11.8%
VWIV35.9%31.1%45.2%39.9%31.4%
Skew 25d3.6%1.1%6.3%5.4%2.7%
Skew 10d7.8%-0.6%16.1%9.6%14.8%
Call IV 25d34.0%29.3%38.6%36.4%31.7%
Put IV 25d37.6%32.8%43.1%41.8%34.4%
Bid-Ask Spread %80.6570.9492.5692.5690.21
Gamma HHI0.150.080.250.160.09
Net GEX1.4M902.0K2.1M946.5K1.3M
Net DEX-24.6M-59.0M-3.0M-9.9M-27.1M
Net VEX-298.2K-337.9K-248.9K-269.2K-315.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.180.079.432.289.43
Total Volume252.2732597344973
Total OI10,097.4097,03412,46210,5797,237

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$231.58$230.0040.3%11.5%44.7%41.8%39.9%5.4%-3.1%946.5K-9.9M-269.2K2.2892.561373127,0833,496
2025-12-02$230.32$230.0039.6%11.4%44.7%40.5%39.4%4.5%-2.0%902.0K-6.5M-266.3K0.0791.47252187,1443,513
2025-12-03$231.47$230.0039.7%11.4%33.0%40.7%45.2%6.3%-2.0%1.0M-9.5M-269.1K0.0992.51162157,3163,523
2025-12-04$230.82$230.0036.7%10.8%29.7%35.3%34.2%4.1%6.7%1.2M-10.7M-269.7K0.4171.2429127,4423,531
2025-12-05$229.73$230.0037.2%10.4%25.2%36.2%38.1%4.5%7.5%1.1M-7.8M-260.4K1.0372.1137387,4613,532
2025-12-08$227.53$230.0037.7%10.2%24.8%37.1%36.0%4.5%10.5%969.1K-3.0M-248.9K0.1573.44131207,4643,557
2025-12-09$230.70$230.0037.4%10.2%25.2%36.5%35.3%4.9%8.6%1.3M-8.7M-253.8K0.3470.9483287,5303,565
2025-12-10$232.00$230.0035.9%10.3%25.0%33.7%39.5%4.6%8.1%1.4M-10.6M-249.3K0.2676.497461917,5663,588
2025-12-11$231.74$230.0035.8%10.3%25.0%33.6%39.8%5.0%7.5%1.5M-14.4M-280.7K0.0771.33183137,7833,769
2025-12-12$232.74$230.0036.9%10.6%25.1%35.6%36.5%3.7%7.4%1.8M-17.2M-290.7K0.9873.3542417,9373,763
2025-12-15$245.44$230.0036.3%10.4%31.3%34.5%35.8%4.5%6.2%1.8M-41.8M-303.4K0.3673.537162578,0033,795
2025-12-16$246.90$240.0034.8%10.0%29.7%31.6%36.3%2.2%8.1%2.1M-48.2M-330.3K0.2677.223951018,5633,899
2025-12-17$251.59$240.0035.0%10.0%30.0%32.2%35.6%1.6%6.8%2.0M-59.0M-335.2K0.1376.02741938,3743,923
2025-12-18$249.81$240.0033.4%9.6%30.4%29.2%35.1%2.3%9.7%2.1M-53.7M-337.9K0.3877.2539158,5363,914
2025-12-19$250.04$240.0031.7%9.1%29.8%25.9%32.9%1.1%11.1%1.5M-57.4M-335.2K0.6680.8268458,5283,917
2025-12-22$250.75$240.0031.2%8.9%25.0%25.1%33.6%1.3%12.5%1.1M-25.4M-328.2K0.3879.8490344,5022,532
2025-12-23$251.00$240.0031.7%9.1%22.9%26.0%31.8%1.9%10.4%1.1M-24.4M-326.4K0.1282.77186224,5572,554
2025-12-24$252.54$240.0032.8%9.4%22.1%28.0%32.4%2.4%9.9%1.2M-27.0M-330.2K0.2783.482264,6172,545
2025-12-26$252.08$240.0032.7%9.4%21.3%27.8%31.1%5.4%10.0%1.1M-24.4M-319.2K6.6791.356404,6202,546
2025-12-29$253.72$240.0033.2%9.5%21.3%28.7%32.6%4.4%10.2%1.2M-26.9M-320.0K0.9286.1513124,6232,580
2025-12-30$255.03$240.0030.4%8.7%21.0%23.6%36.1%2.3%12.7%1.3M-27.9M-320.7K0.7290.2650364,6292,586
2025-12-31$252.65$240.0032.7%9.4%21.3%27.9%31.4%2.7%11.8%1.3M-27.1M-315.5K9.4390.217664,6512,586