OGE Options History — December 2025

In December 2025, OGE traded between $42.55 and $44.89. ATM implied volatility averaged 19.4%, placing in the 12.6% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 6.3% (HV 20d: 13.1%). Max pain ranged from $35.00 to $45.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.68.

Notable Days

  • 2025-12-04: Highest Volume — 72 contracts
  • 2025-12-05: Largest IV spike — 130.7% change
  • 2025-12-05: Highest IV Rank — 27.9%
  • 2025-12-22: Largest Expected Move — 8.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$43.24$42.55$44.89$44.89$42.70
Max Pain$37.31$35.00$45.00$45.00$35.00
ATM IV19.4%11.7%30.5%13.8%22.5%
Expected Move5.6%3.3%8.6%4.0%6.4%
HV 20d13.1%11.5%14.9%13.1%11.5%
HV 60d14.5%13.6%15.1%15.1%13.7%
IV Rank12.6%1.9%27.9%4.9%16.8%
IV Percentile33.3%1.2%75.4%6.3%48.8%
Term Structure0.7%-9.6%9.0%5.0%-7.3%
VWIV17.9%12.2%29.3%13.9%29.3%
Skew 25d17.1%-5.4%63.7%9.2%-2.1%
Skew 10d33.7%-6.8%93.3%15.6%-2.4%
Call IV 25d23.5%13.3%45.9%13.7%25.5%
Put IV 25d40.5%14.5%92.7%22.9%23.3%
Bid-Ask Spread %112.1696.89125.44104.55118.06
Gamma HHI0.540.370.800.740.37
Net GEX37.8K8.3K115.1K104.3K15.9K
Net DEX-253.1K-732.6K-86.9K-732.6K-177.0K
Net VEX-2.3K-3.2K-1.7K-3.1K-2.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.680.0011.250.000.00
Total Volume13.13607296
Total OI1,459.8181,0711,6851,6321,128

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$44.89$45.0013.8%4.0%13.1%4.9%13.9%9.2%5.0%104.3K-732.6K-3.1K0.00104.55901,328304
2025-12-02$44.48$45.0011.7%3.3%13.4%1.9%0.0%10.2%5.8%113.2K-579.2K-2.9K11.2596.894451,329304
2025-12-03$44.13$45.0012.7%3.6%13.6%3.3%12.2%11.5%4.1%115.1K-580.2K-3.2K0.00102.06601,333349
2025-12-04$43.60$0.0013.2%5.3%14.3%4.1%0.0%0.4%4.3%76.5K-339.2K-2.9K0.00112.987201,336349
2025-12-05$43.56$0.0030.5%6.9%14.3%27.9%0.0%3.4%6.7%35.9K-266.3K-2.7K0.00125.441601,272349
2025-12-08$43.00$0.0014.2%6.9%14.9%5.4%0.0%-2.5%3.2%32.1K-240.9K-2.6K0.00116.23201,280349
2025-12-09$43.10$0.0022.7%5.9%13.9%17.1%0.0%-4.5%-0.8%32.6K-178.5K-2.4K0.00105.721001,278349
2025-12-10$42.89$0.0025.6%7.3%12.9%21.1%0.0%-3.5%2.4%34.3K-235.0K-2.6K0.00123.21001,281349
2025-12-11$42.64$0.0016.4%4.7%12.5%8.5%0.0%-5.4%-3.1%30.4K-186.2K-2.1K0.00109.70001,281328
2025-12-12$42.91$0.0023.9%6.8%12.6%18.7%0.0%4.4%4.6%35.3K-228.9K-2.1K0.00113.76101,281328
2025-12-15$43.23$0.0023.2%6.6%13.0%17.8%0.0%5.6%-4.9%31.7K-231.0K-2.2K0.00112.42201,281328
2025-12-16$43.21$0.0015.7%4.5%13.0%7.4%16.3%63.7%3.1%34.5K-241.3K-2.2K0.25106.09411,282328
2025-12-17$43.20$35.0015.2%4.4%12.2%6.8%0.0%63.4%2.0%32.7K-229.4K-1.9K0.00113.15601,286329
2025-12-18$43.30$35.0015.6%4.5%12.3%7.4%0.0%40.7%9.0%32.3K-217.3K-1.8K0.00113.47101,289329
2025-12-19$42.55$35.0016.0%4.6%13.5%7.9%29.3%-3.2%-0.3%8.3K-156.0K-1.9K0.00112.511001,289329
2025-12-22$43.00$35.0029.9%8.6%14.0%27.1%0.0%-0.2%-5.0%8.5K-86.9K-1.7K0.03115.75381916155
2025-12-23$42.96$35.0016.0%4.6%13.8%7.9%0.0%45.4%4.4%10.1K-117.2K-1.8K0.00102.3900933155
2025-12-24$42.99$35.0019.7%5.7%13.7%13.0%0.0%35.8%-7.1%10.6K-135.2K-1.8K0.00112.3540933155
2025-12-26$42.81$35.0024.8%7.1%12.4%20.0%0.0%8.6%-3.0%11.6K-118.3K-1.8K0.00121.0300938155
2025-12-29$42.94$35.0022.1%6.3%12.3%16.4%0.0%50.7%1.1%11.2K-119.8K-1.8K0.00116.73510938155
2025-12-30$43.08$35.0021.1%6.1%11.5%15.0%0.0%44.4%-9.6%15.5K-171.9K-1.9K0.00113.0000973155
2025-12-31$42.70$35.0022.5%6.4%11.5%16.8%0.0%-2.1%-7.3%15.9K-177.0K-2.0K0.00118.0660973155