OGE Options History — November 2025

In November 2025, OGE traded between $44.06 and $45.62. ATM implied volatility averaged 20.8%, placing in the 7.2% IV rank vs the trailing year. The 30-day expected move averaged 4.5%. IV traded above realized volatility by 5.4% (HV 20d: 15.5%). Max pain ranged from $45.00 to $45.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 16 of 19 days. Put/call ratio averaged 0.68.

Notable Days

2025-11-21: Highest Volume — 124 contracts
2025-11-12: Largest IV drop — 66.9% change
2025-11-11: Highest IV Rank — 26.8%
2025-11-03: Largest Expected Move — 8.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$44.67	$44.06	$45.62	$44.14	$45.62
Max Pain	$45.00	$45.00	$45.00	$45.00	$45.00
ATM IV	20.8%	10.3%	49.8%	29.9%	11.0%
Expected Move	4.5%	2.9%	8.6%	8.6%	3.2%
HV 20d	15.5%	11.6%	16.8%	16.2%	11.6%
HV 60d	14.7%	14.4%	15.0%	15.0%	14.7%
IV Rank	7.2%	0.0%	26.8%	12.6%	1.1%
IV Percentile	31.1%	0.0%	95.6%	70.2%	0.4%
Term Structure	3.3%	-11.1%	8.4%	-11.1%	7.4%
VWIV	17.2%	12.5%	26.1%	26.1%	12.5%
Skew 25d	11.1%	1.0%	61.4%	61.4%	1.0%
Skew 10d	17.7%	2.7%	82.8%	82.8%	13.5%
Call IV 25d	14.3%	10.8%	24.6%	24.6%	11.9%
Put IV 25d	25.4%	13.0%	86.0%	86.0%	13.0%
Bid-Ask Spread %	103.28	81.12	112.63	109.13	105.40
Gamma HHI	0.55	0.42	0.76	0.53	0.69
Net GEX	69.5K	48.4K	106.3K	75.5K	93.8K
Net DEX	-738.5K	-1.1M	-507.9K	-617.8K	-924.7K
Net VEX	-3.3K	-3.5K	-3.1K	-3.5K	-3.1K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.68	0.00	8.33	0.00	0.00
Total Volume	21.368	0	124	72	2
Total OI	1,588.842	1,512	1,649	1,569	1,631

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	$44.14	$45.00	29.9%	8.6%	16.2%	12.6%	26.1%	61.4%	-11.1%	75.5K	-617.8K	-3.5K	0.00	109.13	72	0	1,322	247
2025-11-04	$44.29	$45.00	25.8%	7.4%	16.3%	9.7%	20.9%	38.8%	-6.5%	60.6K	-520.7K	-3.4K	0.25	81.12	8	2	1,265	247
2025-11-05	$44.21	$45.00	26.5%	7.6%	16.3%	10.2%	0.0%	9.6%	0.5%	56.8K	-525.6K	-3.1K	0.00	91.56	0	0	1,272	249
2025-11-06	$44.16	$45.00	43.1%	4.2%	16.2%	22.0%	15.0%	3.3%	2.4%	57.7K	-507.9K	-3.1K	0.00	96.58	6	0	1,272	249
2025-11-07	$44.19	$45.00	24.1%	4.3%	15.7%	8.5%	0.0%	4.2%	5.7%	58.2K	-535.0K	-3.4K	0.00	104.60	7	0	1,266	249
2025-11-10	$44.78	$45.00	37.5%	4.8%	16.6%	18.0%	0.0%	7.2%	5.7%	61.5K	-648.5K	-3.5K	0.00	101.81	1	0	1,271	249
2025-11-11	$45.34	$45.00	49.8%	3.7%	16.8%	26.8%	13.2%	4.5%	8.4%	65.6K	-776.9K	-3.1K	0.02	110.34	83	2	1,271	249
2025-11-12	$45.61	$45.00	16.5%	4.7%	15.8%	3.0%	16.5%	6.5%	4.1%	74.0K	-1.1M	-3.5K	8.33	101.01	3	25	1,354	249
2025-11-13	$45.09	$45.00	13.8%	4.0%	15.5%	1.1%	0.0%	5.6%	6.0%	68.2K	-930.7K	-3.4K	0.00	107.12	4	0	1,354	274
2025-11-14	$44.89	$45.00	11.5%	3.3%	15.5%	0.0%	0.0%	5.5%	7.3%	66.1K	-923.7K	-3.3K	0.00	112.63	0	0	1,350	274
2025-11-17	$44.65	$45.00	12.6%	3.6%	15.3%	1.6%	0.0%	12.2%	4.2%	61.4K	-819.6K	-3.3K	0.13	111.43	8	1	1,350	274
2025-11-18	$44.06	$45.00	12.7%	3.6%	15.8%	1.7%	0.0%	6.1%	6.4%	64.4K	-790.3K	-3.2K	0.00	106.14	0	0	1,345	275
2025-11-19	$44.11	$45.00	12.8%	3.7%	15.8%	1.9%	0.0%	5.4%	6.9%	63.9K	-769.8K	-3.4K	0.13	105.26	8	1	1,345	275
2025-11-20	$44.25	$45.00	17.3%	5.0%	15.8%	8.2%	17.3%	5.6%	4.6%	54.9K	-733.9K	-3.4K	1.83	102.75	12	22	1,351	287
2025-11-21	$44.45	$45.00	16.2%	4.6%	15.9%	6.6%	16.2%	17.0%	1.3%	48.4K	-715.4K	-3.2K	0.03	104.13	120	4	1,343	306
2025-11-24	$44.69	$45.00	10.3%	2.9%	16.1%	0.0%	0.0%	6.9%	7.1%	106.3K	-706.3K	-3.2K	0.00	106.42	3	0	1,314	306
2025-11-25	$44.81	$45.00	12.2%	3.5%	14.9%	2.7%	12.5%	7.6%	2.9%	96.3K	-699.7K	-3.3K	0.22	99.84	9	2	1,317	306
2025-11-26	$45.41	$45.00	11.8%	3.4%	11.6%	2.1%	0.0%	3.3%	-0.3%	87.8K	-829.0K	-3.3K	0.00	105.06	1	0	1,326	304
2025-11-28	$45.62	$45.00	11.0%	3.2%	11.6%	1.1%	0.0%	1.0%	7.4%	93.8K	-924.7K	-3.1K	0.00	105.40	2	0	1,327	304