NVTS Options History — December 2025

In December 2025, NVTS traded between $7.14 and $9.52. ATM implied volatility averaged 88.1%, placing in the 13.0% IV rank vs the trailing year. The 30-day expected move averaged 25.3%. IV traded above realized volatility by 6.2% (HV 20d: 82.0%). Max pain ranged from $4.50 to $8.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.31.

Notable Days

2025-12-04: Highest Volume — 37,407 contracts
2025-12-23: Largest IV drop — 6.7% change
2025-12-01: Highest IV Rank — 20.6%
2025-12-01: Largest Expected Move — 29.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$8.23	$7.14	$9.52	$8.39	$7.14
Max Pain	$5.23	$4.50	$8.00	$8.00	$5.00
ATM IV	88.1%	77.8%	98.1%	98.1%	78.5%
Expected Move	25.3%	20.7%	29.2%	29.2%	21.6%
HV 20d	82.0%	63.5%	129.1%	129.1%	63.5%
HV 60d	127.3%	123.6%	128.7%	127.3%	123.6%
IV Rank	13.0%	5.1%	20.6%	20.6%	5.6%
IV Percentile	16.9%	4.0%	30.6%	30.6%	5.2%
Term Structure	1.0%	-7.0%	8.9%	-1.5%	5.7%
VWIV	93.5%	79.0%	109.9%	109.9%	79.0%
Skew 25d	-6.6%	-12.5%	-0.6%	-11.1%	-12.5%
Skew 10d	-13.6%	-32.7%	8.5%	-23.7%	-5.9%
Call IV 25d	95.7%	82.1%	109.4%	107.4%	90.4%
Put IV 25d	89.2%	76.0%	105.2%	96.3%	77.9%
Bid-Ask Spread %	36.60	11.60	61.82	58.55	12.88
Gamma HHI	0.10	0.09	0.12	0.09	0.11
Net GEX	986.8K	617.8K	1.6M	1.0M	641.5K
Net DEX	-106.1M	-163.4M	-66.8M	-114.9M	-66.8M
Net VEX	-533.5K	-608.6K	-451.9K	-540.8K	-451.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.31	0.14	0.60	0.32	0.22
Total Volume	20,629.273	7,758	37,407	22,624	12,062
Total OI	419,971.364	368,110	456,975	413,012	377,175

Daily Data (22 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
2025-12-01	$8.39	$8.00	98.1%	29.2%	129.1%	20.6%	109.9%	-11.1%	-1.5%	1.0M	-114.9M	-540.8K	0.32	58.55	17,176	5,448	320,640	92,372
2025-12-02	$8.36	$8.00	95.8%	29.1%	127.1%	18.8%	105.1%	-7.7%	-1.2%	1.1M	-111.7M	-545.4K	0.43	60.67	13,050	5,625	327,723	95,795
2025-12-03	$8.57	$8.00	91.3%	27.7%	116.8%	15.4%	103.8%	-9.4%	1.9%	1.2M	-116.8M	-560.8K	0.31	56.46	10,888	3,410	330,954	99,082
2025-12-04	$9.48	$4.50	90.9%	27.2%	121.2%	15.1%	99.0%	-8.7%	2.3%	1.5M	-158.0M	-597.6K	0.23	42.98	30,401	7,006	333,919	99,748
2025-12-05	$9.52	$4.50	94.2%	27.5%	115.8%	17.6%	97.6%	-7.0%	2.0%	1.6M	-163.4M	-608.4K	0.20	33.48	25,516	5,155	340,627	100,377
2025-12-08	$9.52	$4.50	96.3%	28.4%	104.2%	19.3%	103.1%	-4.2%	2.2%	1.4M	-161.8M	-597.2K	0.24	43.75	30,101	7,145	332,165	94,826
2025-12-09	$9.25	$4.50	93.9%	27.5%	71.6%	17.4%	98.6%	-9.3%	1.5%	1.5M	-145.1M	-595.5K	0.21	42.05	29,147	6,183	341,127	96,810
2025-12-10	$9.14	$4.50	93.5%	27.1%	67.8%	17.1%	98.4%	-8.7%	-0.1%	1.4M	-148.0M	-595.1K	0.27	61.82	11,334	3,056	347,968	99,596
2025-12-11	$9.29	$4.50	91.3%	26.5%	64.5%	15.4%	95.2%	-8.7%	1.0%	1.5M	-150.2M	-608.6K	0.59	55.13	14,486	8,480	350,170	100,600
2025-12-12	$8.61	$4.50	90.8%	26.6%	66.0%	15.0%	95.2%	-8.3%	2.9%	880.9K	-119.7M	-574.2K	0.33	49.45	20,252	6,643	352,737	104,238
2025-12-15	$8.02	$4.50	92.1%	26.6%	71.0%	16.0%	97.3%	-6.3%	-7.0%	939.9K	-95.8M	-533.5K	0.43	54.91	17,666	7,620	338,208	98,373
2025-12-16	$7.93	$5.00	89.4%	25.6%	68.1%	14.0%	98.2%	-3.2%	-0.3%	848.5K	-89.7M	-523.9K	0.37	40.19	11,043	4,084	342,238	100,404
2025-12-17	$7.45	$5.00	86.4%	24.8%	71.1%	11.6%	93.9%	-8.9%	-3.7%	678.9K	-75.7M	-499.6K	0.44	16.37	10,261	4,530	344,690	101,138
2025-12-18	$7.41	$5.00	88.8%	25.4%	70.6%	13.5%	93.4%	-4.8%	-0.2%	625.0K	-73.0M	-494.2K	0.37	23.31	12,773	4,736	347,957	101,486
2025-12-19	$7.80	$5.00	85.4%	24.2%	73.1%	10.9%	90.3%	-5.2%	2.1%	731.9K	-85.5M	-506.6K	0.25	11.60	14,263	3,508	350,035	101,044
2025-12-22	$7.87	$5.00	85.3%	22.9%	73.1%	10.8%	85.9%	-2.8%	8.9%	807.7K	-86.9M	-503.1K	0.21	17.47	20,526	4,339	294,389	77,161
2025-12-23	$7.72	$5.00	79.6%	21.8%	67.8%	6.5%	82.5%	-1.7%	2.0%	779.6K	-81.1M	-500.0K	0.60	59.02	7,921	4,747	305,518	77,959
2025-12-24	$7.63	$5.00	77.8%	20.7%	67.6%	5.1%	80.2%	-0.6%	-2.7%	688.8K	-77.8M	-494.2K	0.26	19.07	6,153	1,605	307,432	80,746
2025-12-26	$7.38	$5.00	80.1%	22.1%	65.4%	6.8%	81.4%	-8.4%	-0.9%	648.4K	-72.4M	-477.9K	0.29	12.92	12,208	3,540	309,922	80,459
2025-12-29	$7.28	$5.00	80.4%	22.2%	64.4%	7.1%	85.1%	-2.1%	2.6%	617.8K	-70.1M	-464.4K	0.20	12.88	11,935	2,384	291,157	76,953
2025-12-30	$7.25	$5.00	79.3%	21.5%	63.5%	6.2%	84.0%	-4.9%	4.7%	657.0K	-70.7M	-463.2K	0.14	20.22	13,569	1,869	296,296	77,156
2025-12-31	$7.14	$5.00	78.5%	21.6%	63.5%	5.6%	79.0%	-12.5%	5.7%	641.5K	-66.8M	-451.9K	0.22	12.88	9,900	2,162	299,393	77,782