MARA Options History — October 2025 In October 2025, MARA traded between $17.98 and $22.99. ATM implied volatility averaged 97.3%, placing in the 41.9% IV rank vs the trailing year. The 30-day expected move averaged 28.2%. IV traded above realized volatility by 7.2% (HV 20d: 90.0%). Max pain ranged from $16.50 to $18.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 0.28.
Notable Days 2025-10-10 : Highest Volume — 822,508 contracts2025-10-14 : Largest IV spike — 11.0% change2025-10-15 : Highest IV Rank — 57.1%2025-10-14 : Largest Expected Move — 31.5%Monthly Statistics Metric Avg Min Max Open Close Price $19.73 $17.98 $22.99 $18.61 $18.13 Max Pain $17.72 $16.50 $18.00 $16.50 $18.00 ATM IV 97.3% 83.3% 111.5% 83.3% 98.6% Expected Move 28.2% 23.7% 31.5% 23.7% 29.5% HV 20d 90.0% 77.8% 106.7% 80.0% 88.1% HV 60d 69.5% 64.2% 72.6% 65.4% 72.1% IV Rank 41.9% 26.8% 57.1% 26.8% 43.3% IV Percentile 68.6% 41.7% 86.5% 41.7% 76.6% Term Structure -0.2% -7.1% 4.3% 1.8% 0.6% VWIV 107.8% 86.7% 126.6% 87.0% 123.3% Skew 25d -18.4% -24.9% -10.2% -10.2% -24.9% Skew 10d -42.7% -66.3% -10.9% -24.3% -51.9% Call IV 25d 114.0% 92.7% 128.6% 93.4% 120.5% Put IV 25d 95.6% 82.4% 110.1% 83.2% 95.6% Bid-Ask Spread % 7.75 3.31 12.71 4.24 12.71 Gamma HHI 0.08 0.04 0.44 0.08 0.08 Net GEX 23.2M 6.5M 62.8M 30.0M 7.7M Net DEX -1.09B -2.00B -556.6M -1.04B -648.1M Net VEX -7.0M -7.9M -6.5M -6.5M -6.6M Div Yield 0.0% 0.0% 0.0% 0.0% 0.0% P/C Ratio 0.28 0.11 0.54 0.28 0.31 Total Volume 396,649.304 139,841 822,508 411,439 355,947 Total OI 2,845,451.522 2,643,441 3,043,890 2,710,006 2,990,632
Daily Data (23 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 Wall Put Wall Call Vol Put Vol Call OI Put OI 2025-10-01 $18.61 $16.50 83.3% 23.7% 80.0% 26.8% 87.0% -10.2% 1.8% 30.0M -1.04B -6.5M 0.28 4.24 N/A N/A 321,869 89,570 1,611,385 1,098,621 2025-10-02 $18.89 $17.00 84.0% 23.9% 77.8% 27.6% 86.7% -10.3% 1.5% 35.0M -1.13B -6.5M 0.26 6.26 N/A N/A 366,000 94,918 1,646,324 1,121,092 2025-10-03 $18.94 $17.00 85.2% 23.9% 77.9% 28.9% 86.9% -12.1% 1.0% 62.8M -1.08B -6.6M 0.14 5.10 N/A N/A 675,080 92,171 1,686,657 1,149,701 2025-10-06 $20.23 $17.00 92.6% 27.2% 80.2% 36.9% 100.8% -15.5% 1.8% 25.9M -1.30B -6.9M 0.35 5.85 N/A N/A 279,321 98,238 1,558,820 1,084,621 2025-10-07 $20.30 $17.00 91.3% 26.2% 79.3% 35.4% 99.4% -16.3% -0.2% 28.0M -1.31B -6.9M 0.54 3.31 N/A N/A 202,629 108,486 1,609,014 1,120,464 2025-10-08 $20.38 $17.00 91.5% 26.6% 79.0% 35.6% 106.3% -16.5% 2.1% 30.0M -1.35B -7.0M 0.36 3.64 N/A N/A 201,966 71,971 1,637,638 1,141,534 2025-10-09 $20.39 $18.00 94.2% 27.4% 78.9% 38.5% 103.4% -18.5% 1.6% 32.7M -1.33B -7.1M 0.26 4.21 N/A N/A 214,796 56,089 1,655,407 1,160,224 2025-10-10 $18.61 $18.00 98.1% 28.5% 86.5% 42.7% 110.7% -20.8% -0.2% 7.4M -817.0M -6.7M 0.25 9.56 N/A N/A 657,731 164,777 1,689,018 1,177,981 2025-10-13 $20.39 $18.00 99.7% 28.4% 91.1% 44.4% 108.4% -17.7% -0.9% 26.5M -1.28B -7.0M 0.24 8.54 N/A N/A 389,968 93,241 1,604,328 1,120,130 2025-10-14 $22.20 $18.00 110.6% 31.5% 91.7% 56.2% 114.8% -16.8% -2.0% 31.2M -1.82B -7.8M 0.22 11.79 N/A N/A 563,154 125,969 1,685,962 1,168,563 2025-10-15 $22.99 $18.00 111.5% 31.5% 91.8% 57.1% 114.4% -17.4% -1.6% 34.9M -2.00B -7.9M 0.34 7.41 N/A N/A 312,854 106,886 1,709,784 1,216,006 2025-10-16 $20.27 $18.00 107.7% 30.9% 101.9% 53.1% 119.1% -17.2% 0.8% 21.8M -1.16B -7.5M 0.28 8.13 N/A N/A 376,633 107,167 1,744,294 1,239,151 2025-10-17 $19.54 $18.00 104.4% 29.8% 102.6% 49.5% 110.3% -15.5% 0.1% 17.2M -975.6M -7.2M 0.31 8.27 N/A N/A 377,459 116,868 1,806,312 1,237,578 2025-10-20 $20.77 $18.00 98.2% 28.3% 104.5% 42.9% 109.4% -18.8% -1.6% 20.0M -1.17B -7.4M 0.34 7.13 N/A N/A 205,175 70,677 1,579,810 1,144,851 2025-10-21 $19.88 $18.00 97.4% 28.0% 105.7% 42.0% 103.8% -18.2% -2.1% 16.6M -946.2M -7.3M 0.27 5.94 N/A N/A 166,000 44,454 1,622,871 1,173,601 2025-10-22 $19.13 $18.00 105.4% 30.2% 106.7% 50.6% 126.6% -23.3% -7.1% 13.7M -834.5M -7.1M 0.21 8.35 N/A N/A 275,243 58,580 1,681,529 1,186,917 2025-10-23 $19.41 $18.00 101.6% 29.3% 99.9% 46.5% 119.6% -24.3% -4.3% 15.7M -909.6M -7.2M 0.21 9.67 N/A N/A 243,386 52,054 1,705,546 1,200,066 2025-10-24 $19.38 $18.00 98.1% 28.4% 99.9% 42.7% 117.0% -21.0% -2.6% 19.9M -904.4M -7.1M 0.22 7.58 N/A N/A 286,359 63,090 1,783,820 1,209,174 2025-10-27 $19.71 $18.00 94.5% 27.7% 85.5% 38.9% 103.1% -21.9% 3.7% 20.0M -985.0M -7.1M 0.38 7.96 N/A N/A 144,186 55,419 1,660,313 1,134,294 2025-10-28 $18.80 $18.00 94.6% 28.2% 87.0% 38.9% 108.4% -18.0% 4.3% 14.7M -768.9M -6.9M 0.29 9.49 N/A N/A 165,724 48,519 1,694,877 1,162,159 2025-10-29 $18.81 $18.00 97.6% 29.5% 86.8% 42.3% 113.2% -23.2% 2.3% 14.5M -780.0M -6.9M 0.29 11.48 N/A N/A 108,731 31,110 1,733,690 1,171,493 2025-10-30 $17.98 $18.00 97.3% 28.7% 88.1% 41.9% 107.6% -24.4% -3.0% 6.5M -556.6M -6.6M 0.11 11.61 N/A N/A 434,770 47,699 1,748,634 1,180,499 2025-10-31 $18.13 $18.00 98.6% 29.5% 88.1% 43.3% 123.3% -24.9% 0.6% 7.7M -648.1M -6.6M 0.31 12.71 N/A N/A 272,439 83,508 1,804,758 1,185,874
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