NIO Options History — November 2025

In November 2025, NIO traded between $5.45 and $7.42. ATM implied volatility averaged 70.5%, placing in the 41.8% IV rank vs the trailing year. The 30-day expected move averaged 20.2%. IV traded above realized volatility by 28.3% (HV 20d: 42.2%). Max pain ranged from $6.00 to $7.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 5 of 19 days. Put/call ratio averaged 0.33.

Notable Days

2025-11-07: Highest Volume — 228,473 contracts
2025-11-25: Largest IV drop — 10.9% change
2025-11-07: Highest IV Rank — 51.8%
2025-11-07: Largest Expected Move — 21.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$6.29	$5.45	$7.42	$7.42	$5.50
Max Pain	$6.63	$6.00	$7.00	$6.00	$6.00
ATM IV	70.5%	57.6%	75.8%	73.7%	57.6%
Expected Move	20.2%	16.6%	21.5%	21.0%	16.6%
HV 20d	42.2%	32.1%	57.5%	57.2%	43.8%
HV 60d	64.2%	57.7%	72.0%	71.6%	58.1%
IV Rank	41.8%	17.3%	51.8%	47.9%	17.3%
IV Percentile	48.3%	9.5%	69.8%	61.5%	9.5%
Term Structure	-0.5%	-3.4%	3.9%	-1.1%	3.9%
VWIV	73.7%	60.0%	78.9%	75.3%	60.0%
Skew 25d	-7.3%	-10.8%	-2.9%	-7.7%	-5.4%
Skew 10d	-17.5%	-37.5%	37.4%	-37.5%	-12.5%
Call IV 25d	77.0%	59.5%	83.7%	78.1%	59.5%
Put IV 25d	69.6%	54.2%	76.4%	70.4%	54.2%
Bid-Ask Spread %	22.38	10.56	46.75	16.76	27.67
Gamma HHI	0.11	0.09	0.12	0.12	0.09
Net GEX	4.5M	2.3M	9.1M	8.6M	3.1M
Net DEX	-467.3M	-873.7M	-193.7M	-873.7M	-210.4M
Net VEX	-3.6M	-4.3M	-3.1M	-4.3M	-3.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.33	0.13	0.56	0.41	0.34
Total Volume	155,822.947	77,016	228,473	174,515	77,016
Total OI	4,248,794.211	3,808,831	4,423,633	4,306,386	3,969,049

Daily Data (19 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
2025-11-03	$7.42	$6.00	73.7%	21.0%	57.2%	47.9%	75.3%	-7.7%	-1.1%	8.6M	-873.7M	-4.3M	0.41	16.76	123,720	50,795	2,533,470	1,772,916
2025-11-04	$7.20	$6.00	74.9%	20.8%	57.5%	50.0%	75.4%	-7.4%	0.6%	8.1M	-790.0M	-4.2M	0.25	24.73	83,850	21,003	2,569,172	1,790,091
2025-11-05	$7.33	$6.00	75.1%	20.6%	55.4%	50.4%	72.3%	-5.1%	3.2%	9.1M	-835.6M	-4.2M	0.20	16.96	92,613	18,768	2,582,998	1,793,616
2025-11-06	$7.20	$7.00	74.9%	21.3%	54.3%	50.1%	78.7%	-7.3%	-0.3%	8.5M	-796.4M	-4.2M	0.23	15.01	140,775	33,060	2,598,240	1,798,570
2025-11-07	$6.88	$7.00	75.8%	21.5%	42.2%	51.8%	78.0%	-6.5%	2.7%	5.7M	-670.8M	-4.0M	0.23	12.97	186,097	42,376	2,620,826	1,802,807
2025-11-10	$6.75	$7.00	72.6%	21.1%	38.1%	45.8%	78.9%	-7.7%	0.9%	4.8M	-607.2M	-3.9M	0.13	13.09	176,359	23,545	2,481,479	1,787,878
2025-11-11	$6.63	$7.00	72.4%	21.0%	35.6%	45.3%	73.9%	-10.8%	-0.4%	4.6M	-537.5M	-3.8M	0.31	14.90	82,467	25,454	2,464,487	1,798,511
2025-11-12	$6.50	$7.00	72.8%	20.4%	36.1%	46.0%	75.6%	-10.1%	-2.4%	3.8M	-508.7M	-3.7M	0.34	10.56	117,393	39,927	2,491,005	1,812,855
2025-11-13	$6.28	$7.00	73.4%	20.6%	37.8%	47.2%	78.0%	-9.5%	-2.4%	3.5M	-443.7M	-3.7M	0.35	15.07	115,537	40,184	2,517,199	1,823,379
2025-11-14	$6.14	$7.00	71.8%	20.4%	38.3%	44.1%	75.2%	-9.2%	-0.4%	3.4M	-402.9M	-3.6M	0.46	10.61	79,380	36,306	2,536,380	1,832,880
2025-11-17	$6.09	$7.00	71.2%	20.3%	33.2%	42.9%	76.9%	-9.6%	-1.0%	3.0M	-390.4M	-3.5M	0.56	45.59	71,364	40,288	2,465,687	1,812,366
2025-11-18	$6.01	$7.00	70.3%	20.1%	32.1%	41.4%	73.1%	-4.1%	-1.6%	2.5M	-344.7M	-3.4M	0.50	20.05	75,456	38,073	2,488,694	1,834,918
2025-11-19	$5.79	$7.00	70.8%	20.3%	33.8%	42.3%	72.9%	-9.6%	-0.8%	2.4M	-288.4M	-3.3M	0.47	46.75	95,046	44,721	2,498,561	1,834,692
2025-11-20	$5.45	$7.00	71.8%	20.7%	37.9%	44.1%	78.2%	-7.2%	-3.4%	2.3M	-193.7M	-3.2M	0.31	45.19	160,368	49,603	2,535,398	1,843,879
2025-11-21	$5.59	$7.00	71.2%	20.7%	39.6%	43.0%	72.2%	-8.2%	-2.5%	2.8M	-237.5M	-3.3M	0.33	23.44	137,153	45,099	2,541,642	1,817,579
2025-11-24	$5.79	$6.00	69.6%	21.1%	42.0%	40.0%	77.8%	-5.2%	-0.1%	3.6M	-306.6M	-3.4M	0.24	22.35	167,283	40,625	2,192,810	1,616,021
2025-11-25	$5.51	$6.00	62.0%	17.8%	44.0%	25.6%	67.9%	-2.9%	-1.9%	3.2M	-234.8M	-3.2M	0.21	21.64	177,169	37,188	2,294,087	1,634,160
2025-11-26	$5.47	$6.00	58.2%	16.8%	43.3%	18.3%	60.1%	-5.6%	-2.1%	3.1M	-206.3M	-3.1M	0.35	21.91	129,565	45,010	2,297,875	1,640,913
2025-11-28	$5.50	$6.00	57.6%	16.6%	43.8%	17.3%	60.0%	-5.4%	3.9%	3.1M	-210.4M	-3.1M	0.34	27.67	57,552	19,464	2,314,379	1,654,670