M Options History — October 2025

In October 2025, M traded between $16.55 and $19.61. ATM implied volatility averaged 45.9%, placing in the 25.1% IV rank vs the trailing year. The 30-day expected move averaged 13.3%. IV traded above realized volatility by 10.8% (HV 20d: 35.2%). Max pain ranged from $15.00 to $17.00. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 21 of 23 days. Put/call ratio averaged 0.71.

Notable Days

  • 2025-10-01: Highest Volume — 23,775 contracts
  • 2025-10-29: Largest IV spike — 12.6% change
  • 2025-10-29: Highest IV Rank — 37.9%
  • 2025-10-29: Largest Expected Move — 15.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$18.30$16.55$19.61$18.07$19.46
Max Pain$15.65$15.00$17.00$17.00$16.00
ATM IV45.9%39.4%55.9%40.0%51.3%
Expected Move13.3%11.3%15.0%11.5%14.4%
HV 20d35.2%30.5%39.6%37.5%33.9%
HV 60d52.9%50.6%55.3%53.9%50.6%
IV Rank25.1%16.7%37.9%17.4%32.1%
IV Percentile43.1%16.7%75.4%21.0%57.9%
Term Structure3.3%-0.3%21.1%0.9%2.7%
VWIV46.4%39.3%51.0%40.1%49.8%
Skew 25d0.8%-30.4%6.9%3.2%2.4%
Skew 10d3.9%-26.8%26.3%4.8%-24.9%
Call IV 25d47.3%38.3%90.5%38.8%52.8%
Put IV 25d48.1%40.5%60.1%42.0%55.2%
Bid-Ask Spread %26.913.5072.874.1625.87
Gamma HHI0.130.110.160.120.16
Net GEX931.5K-8.3K1.7M-8.3K1.7M
Net DEX-80.1M-108.2M-23.0M-86.4M-101.1M
Net VEX-570.7K-607.8K-533.5K-607.8K-540.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.710.142.520.430.73
Total Volume11,9673,78723,77523,7756,342
Total OI256,282.522233,327280,494279,515254,990

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-10-01$18.07$17.0040.0%11.5%37.5%17.4%40.1%3.2%0.9%-8.3K-86.4M-607.8K0.434.16N/AN/A16,6817,094121,729157,786
2025-10-02$18.16$17.0039.4%11.3%30.7%16.7%39.3%2.2%1.4%1.1M-91.8M-593.8K1.163.50N/AN/A6,2377,252121,128155,282
2025-10-03$18.20$17.0040.1%11.4%30.7%17.6%40.2%2.2%0.3%764.3K-94.1M-599.1K0.344.14N/AN/A13,4874,557122,754157,740
2025-10-06$18.30$15.0041.2%12.6%30.5%19.1%44.5%2.6%0.4%1.5M-93.9M-584.6K0.5217.74N/AN/A5,5472,874121,016140,274
2025-10-07$17.80$15.0041.8%12.6%32.4%19.7%43.8%3.6%-0.3%1.1M-71.0M-585.8K0.6324.71N/AN/A8,7385,502121,679141,415
2025-10-08$17.63$15.0041.3%12.2%32.4%19.1%43.1%3.4%-0.1%531.0K-61.9M-587.3K0.5023.45N/AN/A2,5221,265118,545141,444
2025-10-09$17.39$15.0041.3%12.7%31.4%19.1%44.3%2.5%1.3%513.5K-51.9M-583.1K0.8312.08N/AN/A4,4223,682119,355141,077
2025-10-10$16.55$16.0043.6%13.4%34.9%22.2%47.2%3.0%4.8%288.8K-23.0M-575.0K2.5259.57N/AN/A5,24313,190120,231141,372
2025-10-13$17.41$15.0046.1%13.5%38.6%25.3%46.7%6.9%0.3%577.9K-55.5M-575.7K0.6916.18N/AN/A4,1642,867115,363137,039
2025-10-14$17.77$15.0045.1%14.0%39.3%24.1%49.1%0.5%6.3%718.5K-70.0M-576.9K0.7738.49N/AN/A7,6995,919116,815138,772
2025-10-15$17.95$15.0047.9%13.5%39.4%27.6%47.8%1.1%1.8%676.8K-74.5M-589.1K0.1819.21N/AN/A9,3411,707118,468142,791
2025-10-16$18.04$15.0046.8%14.0%39.3%26.2%49.0%2.6%2.7%972.9K-79.1M-572.6K1.1038.50N/AN/A5,7836,388120,326143,043
2025-10-17$17.80$15.0047.3%13.5%39.6%26.9%47.4%2.0%2.0%675.9K-71.3M-568.9K0.8334.94N/AN/A3,5512,941120,841140,940
2025-10-20$17.98$15.0045.3%13.1%37.8%24.3%45.6%2.0%1.7%620.9K-63.2M-555.0K0.8631.58N/AN/A2,2751,964105,025128,302
2025-10-21$18.32$15.0046.9%13.4%38.1%26.4%47.2%1.9%1.7%936.5K-75.5M-561.9K0.3122.13N/AN/A10,4043,220106,448129,728
2025-10-22$18.56$16.0048.0%13.8%38.0%27.8%47.8%1.7%4.8%1.4M-83.2M-564.2K0.4127.45N/AN/A16,1576,580109,046131,629
2025-10-23$18.69$16.0047.0%13.3%36.9%26.5%47.6%0.8%2.9%1.7M-86.6M-571.4K0.6023.27N/AN/A5,3743,200111,505135,081
2025-10-24$18.77$16.0047.9%13.7%32.7%27.6%47.4%-0.7%2.8%996.6K-88.3M-573.9K1.3143.97N/AN/A6,1158,039112,491136,597
2025-10-27$19.44$16.0049.4%14.4%34.3%29.6%47.5%2.2%8.3%796.5K-98.4M-552.2K0.1526.06N/AN/A14,6282,188107,414136,676
2025-10-28$19.57$16.0049.6%14.4%33.5%29.8%50.7%-0.1%5.7%1.1M-104.4M-537.7K0.9624.05N/AN/A5,2325,028109,584137,446
2025-10-29$19.48$16.0055.9%15.0%33.7%37.9%51.0%-30.4%21.1%1.1M-108.0M-533.5K0.1472.87N/AN/A13,0761,777110,913140,909
2025-10-30$19.61$16.0053.5%14.4%33.7%34.8%50.6%2.5%1.4%1.5M-108.2M-535.4K0.3725.05N/AN/A3,6431,346112,578140,911
2025-10-31$19.46$16.0051.3%14.4%33.9%32.1%49.8%2.4%2.7%1.7M-101.1M-540.7K0.7325.87N/AN/A3,6702,672113,497141,493