NCNO Options History — October 2025

In October 2025, NCNO traded between $23.82 and $26.94. ATM implied volatility averaged 43.1%, placing in the 33.4% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded above realized volatility by 12.5% (HV 20d: 30.5%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 21 of 23 days. Put/call ratio averaged 0.80.

Notable Days

2025-10-21: Highest Volume — 2,320 contracts
2025-10-15: Largest IV drop — 22.8% change
2025-10-14: Highest IV Rank — 51.5%
2025-10-20: Largest Expected Move — 12.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.65	$23.82	$26.94	$26.20	$26.75
Max Pain	$29.35	$25.00	$30.00	$30.00	$30.00
ATM IV	43.1%	38.3%	53.3%	40.9%	44.0%
Expected Move	12.0%	11.0%	12.6%	11.7%	12.6%
HV 20d	30.5%	25.9%	35.2%	29.6%	34.4%
HV 60d	42.2%	41.4%	43.3%	42.7%	42.3%
IV Rank	33.4%	25.0%	51.5%	29.9%	35.0%
IV Percentile	67.6%	52.4%	86.5%	65.9%	70.2%
Term Structure	8.7%	-1.1%	22.6%	-1.1%	11.5%
VWIV	42.5%	38.7%	51.3%	40.9%	44.3%
Skew 25d	2.0%	-9.5%	9.6%	-1.7%	-0.1%
Skew 10d	6.1%	-17.8%	19.4%	-14.1%	4.3%
Call IV 25d	42.0%	29.4%	48.9%	41.7%	44.4%
Put IV 25d	43.9%	39.0%	50.2%	39.9%	44.3%
Bid-Ask Spread %	73.53	16.59	99.89	36.95	94.03
Gamma HHI	0.29	0.23	0.35	0.35	0.29
Net GEX	159.3K	77.9K	229.8K	135.6K	202.5K
Net DEX	-2.1M	-4.2M	210.5K	-1.7M	-3.8M
Net VEX	-29.7K	-37.1K	-23.5K	-28.2K	-35.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.80	0.01	11.63	0.07	0.96
Total Volume	320.87	18	2,320	165	47
Total OI	11,793.652	10,582	12,917	10,591	12,214

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	$26.20	$30.00	40.9%	11.7%	29.6%	29.9%	40.9%	-1.7%	-1.1%	135.6K	-1.7M	-28.2K	0.07	36.95	N/A	N/A	154	11	9,077	1,514
2025-10-02	$26.11	$30.00	40.9%	11.7%	29.6%	29.6%	38.7%	9.6%	-0.8%	135.0K	-1.6M	-28.8K	0.02	16.59	N/A	N/A	691	16	9,059	1,523
2025-10-03	$26.18	$30.00	39.5%	11.3%	29.8%	27.1%	51.3%	-9.5%	1.8%	137.5K	-1.6M	-27.8K	0.09	41.39	N/A	N/A	141	13	9,194	1,499
2025-10-06	$25.97	$30.00	43.5%	11.9%	27.9%	34.2%	39.2%	2.7%	6.3%	141.4K	-1.7M	-28.8K	0.07	73.31	N/A	N/A	169	12	9,291	1,503
2025-10-07	$25.59	$30.00	44.0%	11.9%	27.9%	35.1%	42.7%	1.3%	6.7%	130.0K	-1.2M	-26.5K	0.02	73.10	N/A	N/A	1,044	18	9,348	1,511
2025-10-08	$26.04	$30.00	43.0%	12.0%	29.3%	33.2%	40.3%	3.5%	7.1%	192.9K	-2.2M	-31.1K	0.18	61.44	N/A	N/A	44	8	10,382	1,520
2025-10-09	$25.59	$30.00	43.9%	11.9%	29.3%	34.9%	40.5%	3.2%	6.8%	174.0K	-1.6M	-28.0K	0.52	59.80	N/A	N/A	44	23	10,396	1,521
2025-10-10	$25.07	$30.00	42.4%	11.6%	29.6%	32.1%	41.3%	1.8%	8.9%	165.0K	-1.5M	-28.1K	0.07	94.69	N/A	N/A	80	6	10,379	1,530
2025-10-13	$24.73	$30.00	47.0%	11.9%	28.9%	40.3%	42.3%	1.7%	8.8%	152.2K	-980.7K	-26.0K	0.49	85.61	N/A	N/A	59	29	10,456	1,531
2025-10-14	$24.81	$30.00	53.3%	11.6%	29.2%	51.5%	41.0%	1.0%	8.9%	154.5K	-1.2M	-24.7K	0.83	93.86	N/A	N/A	190	157	10,464	1,447
2025-10-15	$24.31	$30.00	41.2%	11.8%	27.3%	30.0%	45.0%	2.4%	6.9%	138.7K	-734.0K	-23.6K	1.46	75.53	N/A	N/A	336	490	10,635	1,464
2025-10-16	$23.98	$25.00	43.6%	12.5%	27.0%	34.4%	45.2%	3.1%	10.2%	112.6K	-421.5K	-24.9K	11.63	93.07	N/A	N/A	16	186	10,815	1,932
2025-10-17	$23.82	$30.00	42.7%	12.2%	25.9%	32.7%	46.2%	3.0%	8.1%	77.9K	210.5K	-23.5K	0.20	87.65	N/A	N/A	46	9	10,812	2,105
2025-10-20	$24.91	$30.00	44.0%	12.6%	29.8%	35.1%	43.9%	6.5%	7.9%	115.3K	-1.4M	-26.5K	0.02	66.79	N/A	N/A	350	7	9,709	1,832
2025-10-21	$25.91	$25.00	43.5%	12.5%	33.3%	34.2%	41.0%	4.9%	10.6%	162.3K	-2.6M	-30.2K	0.01	65.40	N/A	N/A	2,298	22	9,842	1,837
2025-10-22	$25.68	$25.00	43.0%	12.3%	32.5%	33.2%	43.0%	2.3%	8.8%	155.1K	-2.5M	-32.2K	0.06	89.80	N/A	N/A	117	7	10,220	1,857
2025-10-23	$25.80	$30.00	42.7%	12.3%	32.2%	32.8%	41.9%	2.2%	8.4%	156.4K	-2.5M	-32.3K	0.10	72.26	N/A	N/A	165	16	10,166	1,856
2025-10-24	$26.05	$30.00	40.1%	11.5%	32.6%	28.2%	41.3%	-0.2%	11.5%	176.1K	-3.1M	-34.9K	0.01	82.31	N/A	N/A	153	1	10,204	1,869
2025-10-27	$26.94	$30.00	43.2%	12.4%	35.2%	33.6%	41.8%	2.9%	11.3%	220.3K	-3.9M	-35.5K	0.26	67.36	N/A	N/A	31	8	10,289	1,870
2025-10-28	$26.88	$30.00	42.7%	12.2%	32.9%	32.8%	43.6%	1.7%	14.9%	229.8K	-4.2M	-36.2K	0.17	64.80	N/A	N/A	93	16	10,302	1,875
2025-10-29	$25.96	$30.00	42.7%	12.2%	33.1%	32.8%	44.1%	-0.5%	13.7%	177.0K	-3.2M	-33.6K	0.64	95.55	N/A	N/A	11	7	10,331	1,869
2025-10-30	$26.64	$30.00	38.3%	11.0%	34.4%	25.0%	38.8%	3.6%	22.6%	221.4K	-4.2M	-37.1K	0.44	99.89	N/A	N/A	27	12	10,330	1,874
2025-10-31	$26.75	$30.00	44.0%	12.6%	34.4%	35.0%	44.3%	-0.1%	11.5%	202.5K	-3.8M	-35.4K	0.96	94.03	N/A	N/A	24	23	10,334	1,880