NIO Options History — October 2025

In October 2025, NIO traded between $6.72 and $7.89. ATM implied volatility averaged 74.7%, placing in the 47.9% IV rank vs the trailing year. The 30-day expected move averaged 22.0%. IV traded above realized volatility by 11.0% (HV 20d: 63.8%). Max pain ranged from $5.50 to $7.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 16 of 23 days. Put/call ratio averaged 0.40.

Notable Days

2025-10-10: Highest Volume — 527,536 contracts
2025-10-10: Largest IV spike — 10.1% change
2025-10-14: Highest IV Rank — 61.8%
2025-10-13: Largest Expected Move — 23.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.17	$6.72	$7.89	$7.66	$7.21
Max Pain	$5.93	$5.50	$7.00	$7.00	$6.00
ATM IV	74.7%	70.1%	81.1%	73.1%	71.8%
Expected Move	22.0%	20.4%	23.7%	20.8%	20.6%
HV 20d	63.8%	55.8%	71.8%	68.6%	56.1%
HV 60d	74.5%	71.6%	77.9%	74.6%	71.7%
IV Rank	47.9%	38.8%	61.8%	40.0%	44.1%
IV Percentile	59.5%	40.5%	75.8%	54.0%	50.8%
Term Structure	1.1%	-5.3%	5.9%	0.4%	4.3%
VWIV	79.8%	72.8%	92.7%	75.0%	76.0%
Skew 25d	-10.5%	-15.6%	-6.9%	-10.4%	-7.8%
Skew 10d	-18.1%	-42.1%	17.8%	-19.7%	-20.1%
Call IV 25d	83.3%	75.9%	93.1%	82.2%	77.8%
Put IV 25d	72.8%	67.9%	79.0%	71.8%	70.0%
Bid-Ask Spread %	13.30	3.15	29.94	15.87	16.88
Gamma HHI	0.12	0.10	0.18	0.14	0.11
Net GEX	7.4M	4.8M	11.1M	8.9M	7.4M
Net DEX	-791.7M	-1.03B	-613.5M	-955.2M	-801.5M
Net VEX	-4.5M	-4.7M	-4.3M	-4.5M	-4.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.40	0.15	0.75	0.43	0.50
Total Volume	182,541.913	83,798	527,536	253,162	151,520
Total OI	4,373,963.13	4,254,806	4,579,885	4,255,494	4,417,416

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 Vol	Put Vol	Call OI	Put OI
2025-10-01	$7.66	$7.00	73.1%	20.8%	68.6%	40.0%	75.0%	-10.4%	0.4%	8.9M	-955.2M	-4.5M	0.43	15.87	176,420	76,742	2,476,557	1,778,937
2025-10-02	$7.89	$7.00	73.9%	21.0%	67.4%	41.3%	73.7%	-10.1%	1.8%	11.1M	-1.03B	-4.7M	0.25	10.23	198,529	49,590	2,527,523	1,821,683
2025-10-03	$7.67	$7.00	72.9%	20.4%	67.6%	39.8%	72.8%	-11.1%	1.0%	7.2M	-965.8M	-4.6M	0.42	3.15	168,371	71,483	2,549,217	1,854,413
2025-10-06	$7.66	$5.50	73.3%	22.9%	67.6%	41.2%	82.5%	-11.7%	1.1%	7.7M	-930.3M	-4.6M	0.34	17.81	105,047	35,532	2,472,491	1,806,898
2025-10-07	$7.47	$5.50	73.1%	21.7%	68.7%	40.9%	80.4%	-14.3%	0.9%	6.8M	-857.3M	-4.6M	0.40	11.43	133,593	52,790	2,508,146	1,828,562
2025-10-08	$7.81	$6.00	73.8%	22.7%	58.8%	42.1%	84.0%	-11.4%	2.0%	9.7M	-987.2M	-4.6M	0.15	4.15	168,178	24,641	2,531,184	1,845,020
2025-10-09	$7.53	$6.00	71.9%	22.6%	58.6%	38.8%	83.2%	-11.1%	1.8%	7.1M	-868.7M	-4.5M	0.27	5.31	134,166	36,238	2,566,919	1,851,065
2025-10-10	$6.78	$6.00	79.2%	22.8%	71.3%	58.1%	80.7%	-12.9%	-3.8%	4.8M	-613.5M	-4.4M	0.72	15.77	306,887	220,649	2,609,463	1,809,915
2025-10-13	$7.14	$5.50	79.7%	23.7%	71.8%	59.1%	88.0%	-10.7%	1.9%	6.3M	-774.0M	-4.5M	0.34	11.57	174,619	59,697	2,576,381	1,758,648
2025-10-14	$6.84	$5.50	81.1%	23.2%	67.9%	61.8%	85.9%	-15.6%	-2.2%	5.3M	-685.5M	-4.4M	0.21	9.72	95,600	20,355	2,636,143	1,786,224
2025-10-15	$6.86	$5.50	78.8%	23.5%	65.0%	57.5%	92.7%	-14.6%	3.5%	5.0M	-695.6M	-4.4M	0.25	5.48	104,158	25,774	2,679,912	1,788,726
2025-10-16	$6.80	$5.50	79.2%	23.7%	65.0%	58.2%	86.7%	-8.4%	4.1%	5.0M	-660.5M	-4.4M	0.50	9.67	162,845	82,094	2,713,292	1,798,307
2025-10-17	$6.72	$5.50	76.9%	22.6%	65.1%	53.9%	80.2%	-8.9%	2.9%	6.2M	-654.0M	-4.4M	0.41	9.88	199,729	82,000	2,762,866	1,817,019
2025-10-20	$7.04	$5.50	75.1%	21.7%	64.1%	50.4%	81.0%	-9.0%	-2.5%	7.5M	-783.5M	-4.5M	0.59	8.94	101,941	60,445	2,532,382	1,722,424
2025-10-21	$6.83	$5.50	77.4%	22.3%	65.0%	54.7%	77.2%	-12.9%	-5.3%	7.3M	-734.4M	-4.6M	0.53	6.63	62,007	32,801	2,566,401	1,724,709
2025-10-22	$6.84	$6.00	78.5%	22.5%	64.5%	56.9%	79.7%	-8.0%	-1.7%	7.2M	-710.5M	-4.4M	0.75	9.17	72,857	54,419	2,588,403	1,747,451
2025-10-23	$6.89	$6.00	75.8%	21.8%	62.4%	51.8%	75.4%	-7.2%	-0.6%	7.6M	-715.1M	-4.4M	0.55	11.54	56,846	31,426	2,602,267	1,787,108
2025-10-24	$6.94	$6.00	72.5%	20.9%	60.4%	45.4%	77.1%	-7.6%	-1.1%	10.2M	-716.1M	-4.4M	0.45	11.96	101,149	45,825	2,614,274	1,802,927
2025-10-27	$7.04	$6.00	70.2%	21.2%	60.3%	41.1%	77.3%	-8.0%	4.9%	7.0M	-762.0M	-4.3M	0.26	24.51	107,751	28,275	2,508,080	1,767,308
2025-10-28	$7.06	$6.00	70.1%	20.5%	57.3%	41.0%	75.5%	-10.2%	4.4%	7.8M	-755.3M	-4.3M	0.24	29.94	67,807	15,991	2,547,291	1,767,443
2025-10-29	$7.13	$6.00	70.4%	20.8%	57.1%	41.6%	74.3%	-6.9%	5.9%	8.3M	-789.4M	-4.3M	0.46	28.98	98,301	45,461	2,572,364	1,776,524
2025-10-30	$7.04	$6.00	70.4%	21.3%	55.8%	41.5%	76.2%	-12.3%	2.9%	8.1M	-759.5M	-4.3M	0.24	27.26	78,945	18,970	2,601,503	1,799,366
2025-10-31	$7.21	$6.00	71.8%	20.6%	56.1%	44.1%	76.0%	-7.8%	4.3%	7.4M	-801.5M	-4.4M	0.50	16.88	100,951	50,569	2,614,760	1,802,656