NCNO Options History — December 2025

In December 2025, NCNO traded between $23.21 and $26.25. ATM implied volatility averaged 43.8%, placing in the 34.2% IV rank vs the trailing year. The 30-day expected move averaged 12.5%. IV traded above realized volatility by 2.6% (HV 20d: 41.2%). Max pain ranged from $25.00 to $25.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.35.

Notable Days

  • 2025-12-03: Highest Volume — 3,660 contracts
  • 2025-12-04: Largest IV drop — 47.0% change
  • 2025-12-03: Highest IV Rank — 100.0%
  • 2025-12-03: Largest Expected Move — 23.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.33$23.21$26.25$24.46$25.70
Max Pain$25.00$25.00$25.00$25.00$25.00
ATM IV43.8%25.1%82.0%67.4%25.1%
Expected Move12.5%7.2%23.5%19.3%7.2%
HV 20d41.2%26.1%46.1%27.8%45.2%
HV 60d35.9%30.4%38.1%30.8%36.1%
IV Rank34.2%1.8%100.0%76.2%1.8%
IV Percentile54.7%0.8%100.0%97.2%0.8%
Term Structure-1.8%-22.4%11.7%-14.3%11.7%
VWIV45.2%35.9%83.7%66.7%40.2%
Skew 25d5.2%-3.5%19.1%4.2%9.3%
Skew 10d13.3%-2.3%37.5%13.6%31.1%
Call IV 25d41.5%22.3%87.2%69.8%22.7%
Put IV 25d46.7%32.0%84.4%74.1%32.0%
Bid-Ask Spread %85.0267.82108.8684.00108.86
Gamma HHI0.320.220.390.230.31
Net GEX178.4K56.1K257.6K92.1K208.0K
Net DEX-3.0M-5.3M-34.2K-1.0M-3.7M
Net VEX-21.7K-27.4K-17.7K-17.7K-21.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.350.001.520.041.52
Total Volume644.045193,660279378
Total OI12,4389,44215,08510,3119,996

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$24.46$25.0067.4%19.3%27.8%76.2%66.7%4.2%-14.3%92.1K-1.0M-17.7K0.0484.00N/AN/A269108,9771,334
2025-12-02$24.51$25.0071.1%20.4%27.7%82.7%72.3%4.7%-15.7%111.5K-1.4M-18.7K0.2780.98N/AN/A70199,2081,324
2025-12-03$25.52$25.0082.0%23.5%26.1%100.0%83.7%-2.8%-22.4%164.0K-3.2M-25.9K0.5967.82N/AN/A2,3071,3539,2551,332
2025-12-04$24.58$25.0043.5%11.3%29.3%33.4%41.6%1.7%-1.0%65.5K-682.6K-18.2K0.3173.01N/AN/A2,54578810,5562,409
2025-12-05$23.21$25.0043.5%11.8%35.2%33.5%44.9%1.1%0.0%56.1K-34.2K-18.1K0.3374.00N/AN/A2458111,5332,166
2025-12-08$24.67$25.0040.1%11.6%41.4%27.6%35.9%-3.5%-0.2%114.6K-1.7M-19.1K0.2188.91N/AN/A1,64435211,5692,184
2025-12-09$24.94$25.0040.9%11.4%41.2%29.0%40.1%-1.1%-0.2%179.6K-2.8M-24.0K0.1370.82N/AN/A2182812,7832,101
2025-12-10$26.14$25.0041.9%12.0%44.8%30.7%42.3%2.4%-0.2%257.6K-5.3M-27.4K0.1784.69N/AN/A1923212,8872,091
2025-12-11$25.82$25.0040.5%11.6%45.0%28.4%40.4%1.6%-0.0%227.4K-4.5M-26.3K0.0682.85N/AN/A54312,8172,096
2025-12-12$25.34$25.0038.9%11.1%44.5%25.5%38.2%-1.5%1.4%203.4K-3.4M-22.7K0.1084.75N/AN/A29312,8192,086
2025-12-15$24.60$25.0039.8%11.4%45.7%27.2%0.0%6.5%-0.5%180.5K-2.3M-21.8K0.7391.21N/AN/A11812,8262,087
2025-12-16$24.66$25.0039.6%11.4%44.9%26.8%42.7%0.7%0.4%194.2K-2.4M-21.2K0.3585.06N/AN/A772712,8272,079
2025-12-17$25.41$25.0040.7%11.7%46.1%28.6%39.9%-0.4%0.9%227.2K-3.8M-22.1K0.4683.93N/AN/A924212,8382,090
2025-12-18$25.54$25.0039.7%11.4%45.8%27.0%43.3%0.3%1.5%247.5K-4.4M-22.5K1.1484.53N/AN/A12514212,8712,091
2025-12-19$25.54$25.0038.4%11.0%45.4%24.7%38.2%2.6%1.0%176.9K-4.9M-22.3K0.1184.54N/AN/A2662812,9482,137
2025-12-22$26.06$25.0039.0%11.2%45.6%25.8%36.1%7.2%-0.3%194.0K-3.5M-21.8K0.0289.69N/AN/A19948,591851
2025-12-23$25.91$25.0038.9%11.1%45.3%25.5%38.9%18.0%-0.4%194.4K-3.4M-22.2K0.2577.17N/AN/A2058,735855
2025-12-24$25.98$25.0036.7%10.5%44.8%21.8%36.7%19.1%0.9%196.8K-3.5M-22.0K0.7383.27N/AN/A2081528,728855
2025-12-26$26.23$25.0037.1%10.6%44.8%22.5%37.2%15.3%1.2%205.9K-3.5M-20.2K0.1191.89N/AN/A3648,830724
2025-12-29$26.25$25.0040.2%11.5%44.8%27.8%40.2%16.6%-1.3%213.9K-3.9M-21.2K0.1391.49N/AN/A6188,840717
2025-12-30$26.09$25.0039.4%11.3%44.7%26.5%0.0%12.1%-1.2%213.7K-3.7M-20.9K0.00106.96N/AN/A2,03318,874719
2025-12-31$25.70$25.0025.1%7.2%45.2%1.8%0.0%9.3%11.7%208.0K-3.7M-21.6K1.52108.86N/AN/A1502289,356640