NNN Options History — September 2025

In September 2025, NNN traded between $41.86 and $43.24. ATM implied volatility averaged 18.0%, placing in the 13.5% IV rank vs the trailing year. The 30-day expected move averaged 4.9%. IV traded above realized volatility by 0.7% (HV 20d: 17.4%). Max pain ranged from $40.00 to $40.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 15 of 21 days. Put/call ratio averaged 1.37.

Notable Days

  • 2025-09-11: Highest Volume — 825 contracts
  • 2025-09-17: Largest IV spike — 102.1% change
  • 2025-09-05: Highest IV Rank — 22.8%
  • 2025-09-03: Largest Expected Move — 6.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.50$41.86$43.24$42.03$42.41
Max Pain$40.00$40.00$40.00$40.00$40.00
ATM IV18.0%10.6%24.3%19.8%21.0%
Expected Move4.9%3.0%6.7%5.7%6.0%
HV 20d17.4%13.3%19.5%18.5%13.3%
HV 60d17.4%17.0%17.8%17.1%17.2%
IV Rank13.5%2.4%22.8%16.1%17.8%
IV Percentile35.5%1.2%78.6%40.9%56.3%
Term Structure1.7%-10.6%10.3%-0.3%0.6%
VWIV19.0%14.0%23.8%19.9%20.0%
Skew 25d6.6%0.5%12.3%6.8%11.4%
Skew 10d8.2%0.0%12.9%10.1%12.9%
Call IV 25d12.9%8.4%17.2%12.4%11.1%
Put IV 25d19.5%16.6%23.9%19.1%22.6%
Bid-Ask Spread %77.7856.1297.8359.5968.57
Gamma HHI0.500.350.760.390.41
Net GEX117.2K-32.1K323.9K-32.1K62.7K
Net DEX-4.3M-5.8M-2.4M-2.4M-3.9M
Net VEX-22.7K-25.5K-19.8K-23.7K-23.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.370.045.690.220.23
Total Volume260.7143682535580
Total OI7,177.4295,0588,7877,6675,651

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$42.03$40.0019.8%5.7%18.5%16.1%19.9%6.8%-0.3%-32.1K-2.4M-23.7K0.2259.59N/AN/A292633,6144,053
2025-09-03$42.46$40.0023.4%6.7%17.9%21.4%23.8%12.3%-10.6%89.3K-4.2M-24.5K0.0659.09N/AN/A6643,8804,080
2025-09-04$42.31$40.0021.4%5.4%17.3%18.4%18.8%3.2%0.5%45.1K-4.1M-23.3K3.8672.30N/AN/A281083,8854,082
2025-09-05$43.24$40.0024.3%4.5%18.7%22.8%16.7%0.5%-1.1%283.0K-5.6M-21.1K0.5376.57N/AN/A163863,9034,164
2025-09-08$42.75$40.0017.5%3.6%19.2%12.7%15.6%1.6%-0.6%169.9K-5.0M-24.2K0.5856.12N/AN/A98574,0334,162
2025-09-09$42.83$40.0017.0%3.2%19.2%11.9%14.0%2.6%1.3%158.3K-5.2M-21.1K0.4284.47N/AN/A73314,0434,174
2025-09-10$42.72$40.0013.0%3.7%19.2%6.0%18.2%4.6%-2.0%169.3K-5.1M-24.2K0.0786.23N/AN/A294224,1144,189
2025-09-11$43.23$40.0011.5%3.3%19.5%3.8%0.0%12.1%2.7%318.1K-5.4M-20.1K4.0393.12N/AN/A1646613,9594,191
2025-09-12$43.20$40.0012.2%3.5%19.0%4.8%20.2%5.1%0.9%323.9K-5.8M-20.3K0.0491.08N/AN/A12454,0923,618
2025-09-15$43.02$40.0013.5%3.9%19.1%6.7%0.0%6.7%2.2%252.5K-5.6M-19.8K0.1187.80N/AN/A104114,0953,615
2025-09-16$42.59$40.0010.6%3.0%18.5%2.4%18.9%11.9%8.8%163.2K-5.1M-20.6K1.5894.94N/AN/A1462314,1353,625
2025-09-17$42.73$40.0021.4%6.1%17.1%18.5%21.0%7.8%1.4%151.3K-4.9M-20.6K0.9897.83N/AN/A1251224,0743,834
2025-09-18$42.32$40.0020.4%5.8%16.4%16.9%20.2%7.8%10.3%102.1K-4.3M-20.7K3.3692.78N/AN/A1484984,1124,060
2025-09-19$42.17$40.0019.4%5.6%16.4%15.4%18.5%1.2%0.2%56.1K-4.2M-22.2K5.6995.56N/AN/A543074,1454,642
2025-09-22$41.86$40.0015.5%4.4%16.4%9.7%18.5%0.8%9.3%-15.8K-2.8M-23.0K0.1393.26N/AN/A586752,4592,599
2025-09-23$42.16$40.0019.0%5.4%16.4%14.9%19.6%8.4%3.0%38.6K-3.7M-24.7K0.5362.56N/AN/A176932,7542,661
2025-09-24$42.11$40.0019.6%5.6%16.4%15.7%18.9%7.1%0.2%32.6K-3.5M-24.9K1.0969.34N/AN/A23252,7332,698
2025-09-25$41.95$40.0020.9%6.0%15.9%17.7%19.4%6.1%-1.2%15.7K-3.1M-25.5K4.5062.68N/AN/A20902,7562,706
2025-09-26$42.23$40.0017.0%4.9%15.7%11.9%0.0%12.2%8.1%45.2K-3.6M-24.1K0.3865.28N/AN/A26102,7722,780
2025-09-29$42.09$40.0020.6%5.9%14.6%17.3%19.1%8.4%2.4%31.7K-3.5M-23.7K0.4464.22N/AN/A129572,7962,788
2025-09-30$42.41$40.0021.0%6.0%13.3%17.8%20.0%11.4%0.6%62.7K-3.9M-23.9K0.2368.57N/AN/A65152,8002,851