NBIS Options History — October 2025

In October 2025, NBIS traded between $100.13 and $136.25. ATM implied volatility averaged 104.5%, placing in the 56.5% IV rank vs the trailing year. The 30-day expected move averaged 30.4%. IV traded above realized volatility by 17.9% (HV 20d: 86.5%). Max pain ranged from $65.00 to $85.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 9 of 23 days. Put/call ratio averaged 0.40.

Notable Days

2025-10-10: Highest Volume — 203,024 contracts
2025-10-10: Largest IV spike — 7.9% change
2025-10-22: Highest IV Rank — 68.3%
2025-10-29: Largest Expected Move — 35.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$121.41	$100.13	$136.25	$114.56	$131.66
Max Pain	$76.61	$65.00	$85.00	$80.00	$80.00
ATM IV	104.5%	84.2%	112.9%	84.2%	112.7%
Expected Move	30.4%	23.8%	35.3%	23.8%	34.2%
HV 20d	86.5%	61.8%	147.4%	145.7%	82.6%
HV 60d	106.8%	103.6%	109.9%	106.6%	103.6%
IV Rank	56.5%	27.8%	68.3%	27.8%	68.2%
IV Percentile	75.4%	26.0%	88.3%	26.0%	87.8%
Term Structure	-1.1%	-10.5%	6.3%	6.3%	-0.7%
VWIV	107.0%	84.6%	124.8%	84.6%	120.4%
Skew 25d	-3.4%	-8.0%	3.0%	-5.9%	3.0%
Skew 10d	-5.9%	-20.0%	8.5%	-8.9%	5.9%
Call IV 25d	108.0%	91.0%	117.9%	91.0%	111.6%
Put IV 25d	104.6%	85.0%	114.6%	85.0%	114.6%
Bid-Ask Spread %	47.81	23.71	63.54	23.71	35.08
Gamma HHI	0.06	0.04	0.19	0.06	0.14
Net GEX	26.1M	7.8M	59.7M	24.4M	59.7M
Net DEX	-3.35B	-4.33B	-1.83B	-3.08B	-4.33B
Net VEX	-7.8M	-9.3M	-6.1M	-6.3M	-9.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.22	0.63	0.56	0.28
Total Volume	113,458.522	54,306	203,024	54,306	104,701
Total OI	699,337.957	607,451	791,419	621,382	791,419

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	$114.56	$80.00	84.2%	23.8%	145.7%	27.8%	84.6%	-5.9%	6.3%	24.4M	-3.08B	-6.3M	0.56	23.71	N/A	N/A	34,813	19,493	381,385	239,997
2025-10-02	$126.39	$82.00	90.4%	24.9%	147.1%	36.6%	87.5%	-4.8%	2.7%	28.0M	-3.86B	-6.1M	0.38	32.34	N/A	N/A	117,517	44,521	385,932	245,651
2025-10-03	$129.43	$85.00	92.3%	24.8%	146.6%	39.2%	87.9%	-3.5%	3.4%	40.1M	-4.03B	-6.4M	0.39	27.39	N/A	N/A	112,788	44,403	399,374	257,621
2025-10-06	$125.95	$65.00	95.0%	28.3%	147.4%	43.1%	99.8%	-6.9%	1.1%	19.2M	-3.50B	-6.5M	0.50	61.19	N/A	N/A	65,911	32,660	374,654	232,797
2025-10-07	$119.46	$65.00	102.0%	28.9%	65.6%	53.0%	101.7%	-5.7%	0.1%	14.5M	-3.04B	-6.9M	0.63	50.49	N/A	N/A	65,932	41,318	389,423	247,666
2025-10-08	$123.34	$70.00	99.7%	28.8%	65.8%	49.7%	102.2%	-4.2%	-2.1%	16.7M	-3.34B	-7.1M	0.29	57.16	N/A	N/A	70,591	20,464	404,474	262,820
2025-10-09	$132.07	$70.00	101.8%	29.2%	61.8%	52.7%	102.8%	-4.9%	-1.0%	27.8M	-4.05B	-7.4M	0.35	61.27	N/A	N/A	90,762	31,795	424,461	266,669
2025-10-10	$130.04	$70.00	109.8%	30.8%	62.7%	64.0%	108.6%	-2.5%	-2.1%	21.6M	-3.89B	-7.8M	0.50	61.74	N/A	N/A	135,422	67,602	441,398	274,492
2025-10-13	$136.25	$70.00	106.5%	30.0%	63.4%	59.4%	105.5%	-6.7%	0.3%	25.0M	-4.14B	-7.5M	0.37	58.48	N/A	N/A	43,898	16,244	413,368	245,578
2025-10-14	$129.02	$70.00	106.3%	29.9%	67.4%	59.0%	104.8%	-3.5%	-3.4%	24.7M	-3.76B	-7.6M	0.45	63.54	N/A	N/A	45,808	20,393	426,865	250,488
2025-10-15	$126.16	$75.00	99.8%	29.8%	67.2%	49.9%	105.6%	-2.2%	3.1%	24.1M	-3.59B	-7.7M	0.28	60.28	N/A	N/A	57,388	16,200	437,351	260,640
2025-10-16	$123.56	$80.00	106.7%	31.1%	68.2%	59.6%	109.2%	-1.3%	3.0%	21.6M	-3.36B	-7.8M	0.29	62.52	N/A	N/A	62,193	17,865	445,156	266,879
2025-10-17	$114.16	$80.00	105.6%	30.0%	74.1%	58.0%	106.4%	-1.6%	-1.5%	8.0M	-2.62B	-7.5M	0.63	59.79	N/A	N/A	93,409	58,573	456,688	273,410
2025-10-20	$108.22	$80.00	104.9%	29.8%	73.5%	57.0%	106.1%	-4.7%	-3.0%	11.2M	-2.25B	-7.7M	0.43	25.35	N/A	N/A	67,098	28,672	402,886	233,075
2025-10-21	$103.04	$80.00	105.9%	30.3%	75.5%	58.6%	107.2%	-8.0%	-3.8%	8.3M	-1.97B	-7.7M	0.45	36.29	N/A	N/A	78,390	34,924	423,943	247,421
2025-10-22	$100.13	$80.00	112.9%	32.4%	73.6%	68.3%	114.9%	-5.0%	-10.5%	7.8M	-1.83B	-8.0M	0.62	47.48	N/A	N/A	116,285	72,176	448,382	257,069
2025-10-23	$105.44	$80.00	110.0%	31.8%	75.0%	64.4%	112.7%	-3.9%	-4.9%	17.6M	-2.33B	-8.6M	0.33	44.87	N/A	N/A	87,918	28,935	483,628	272,314
2025-10-24	$115.88	$80.00	111.2%	32.6%	82.3%	66.0%	113.2%	-1.3%	-8.2%	43.0M	-3.26B	-9.1M	0.27	45.94	N/A	N/A	139,520	37,218	504,360	277,817
2025-10-27	$126.27	$80.00	112.1%	33.9%	87.0%	67.3%	118.7%	-1.3%	-1.4%	37.0M	-3.83B	-9.2M	0.33	49.27	N/A	N/A	90,696	29,931	472,736	253,096
2025-10-28	$121.47	$80.00	109.9%	33.9%	88.1%	64.1%	117.4%	-6.2%	-1.3%	35.2M	-3.50B	-9.2M	0.22	48.00	N/A	N/A	82,335	18,258	488,519	264,460
2025-10-29	$124.55	$80.00	112.7%	35.3%	88.4%	68.1%	124.8%	1.3%	0.7%	38.8M	-3.70B	-9.2M	0.32	53.78	N/A	N/A	64,831	20,832	500,210	268,915
2025-10-30	$125.30	$80.00	110.7%	33.5%	81.1%	65.3%	118.3%	1.5%	-1.9%	45.8M	-3.79B	-9.3M	0.31	33.75	N/A	N/A	60,070	18,793	507,275	282,011
2025-10-31	$131.66	$80.00	112.7%	34.2%	82.6%	68.2%	120.4%	3.0%	-0.7%	59.7M	-4.33B	-9.2M	0.28	35.08	N/A	N/A	81,565	23,136	504,456	286,963