OPEN Options History — December 2025

In December 2025, OPEN traded between $5.80 and $7.54. ATM implied volatility averaged 86.5%, placing in the 10.7% IV rank vs the trailing year. The 30-day expected move averaged 25.2%. IV traded below realized volatility by 19.0% (HV 20d: 105.5%). Max pain ranged from $4.50 to $7.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 20 of 22 days. Put/call ratio averaged 0.27.

Notable Days

  • 2025-12-04: Highest Volume — 286,135 contracts
  • 2025-12-19: Largest IV drop — 12.0% change
  • 2025-12-01: Highest IV Rank — 17.1%
  • 2025-12-01: Largest Expected Move — 30.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$6.63$5.80$7.54$7.28$5.88
Max Pain$6.84$4.50$7.00$7.00$6.50
ATM IV86.5%74.2%103.5%103.5%76.9%
Expected Move25.2%21.2%30.4%30.4%22.3%
HV 20d105.5%65.3%143.5%143.3%65.3%
HV 60d124.5%101.3%179.3%179.3%101.3%
IV Rank10.7%6.0%17.1%17.1%7.0%
IV Percentile7.6%1.6%25.4%25.4%2.4%
Term Structure2.8%-2.9%6.4%1.2%2.3%
VWIV93.3%81.7%108.3%108.3%81.8%
Skew 25d-7.1%-14.2%-1.4%-12.0%-1.8%
Skew 10d-14.8%-55.9%20.6%20.6%-5.4%
Call IV 25d93.1%80.1%111.4%111.4%80.1%
Put IV 25d86.0%68.7%100.5%99.3%78.3%
Bid-Ask Spread %18.098.3533.5216.3111.44
Gamma HHI0.160.110.220.200.17
Net GEX1.2M65.6K2.5M1.0M1.3M
Net DEX-35.3M-75.2M-14.8M-39.1M-27.0M
Net VEX-300.8K-346.6K-200.7K-200.7K-346.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.270.140.500.340.31
Total Volume142,887.22743,143286,135146,85566,732
Total OI486,845294,904621,787294,904525,164

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$7.28$7.00103.5%30.4%143.3%17.1%108.3%-12.0%1.2%1.0M-39.1M-200.7K0.3416.31109,67237,183217,08477,820
2025-12-02$7.04$7.0096.7%28.6%143.5%14.5%105.9%-9.7%5.9%756.1K-26.6M-203.2K0.2619.39110,79828,461233,68694,645
2025-12-03$6.88$7.0095.3%28.0%140.7%14.0%102.2%-8.5%0.3%484.5K-19.6M-215.3K0.3223.9671,86323,147272,401105,268
2025-12-04$7.54$7.0098.8%29.7%142.7%15.3%106.7%-7.4%3.3%2.1M-63.6M-257.9K0.1421.81251,81234,323289,867115,917
2025-12-05$7.17$7.0091.0%27.0%139.6%12.4%100.6%-6.8%4.5%1.3M-48.7M-284.1K0.2328.88114,08625,985366,405118,893
2025-12-08$7.08$7.0091.9%27.8%138.9%12.7%104.0%-7.8%6.4%1.4M-45.7M-276.4K0.2717.87134,47736,418283,88095,674
2025-12-09$7.44$7.0097.8%28.6%116.8%14.9%105.0%-9.1%3.6%2.5M-75.2M-336.2K0.1918.00174,40133,657350,861115,602
2025-12-10$7.12$7.0098.1%28.1%114.6%15.1%102.9%-1.4%2.5%2.2M-56.7M-331.7K0.1933.52199,31037,818401,659133,811
2025-12-11$7.13$7.0090.0%26.4%111.0%12.0%95.8%-3.5%2.9%2.0M-52.5M-333.9K0.2611.50177,11845,422430,103144,681
2025-12-12$6.64$7.0086.3%25.8%112.5%10.6%94.0%-8.0%3.8%992.0K-22.0M-306.5K0.3110.26111,04734,640464,542157,245
2025-12-15$6.50$7.0084.4%24.2%110.3%9.9%96.3%-11.6%5.6%823.8K-26.9M-303.6K0.2611.11114,54329,250349,525117,142
2025-12-16$6.75$7.0084.8%24.2%111.5%10.0%86.9%-4.5%4.4%1.6M-44.9M-326.6K0.2912.4094,14227,439381,580124,519
2025-12-17$6.21$7.0083.6%24.0%111.6%9.6%91.0%-8.1%5.5%702.5K-14.8M-297.6K0.2512.5692,64123,603406,764133,606
2025-12-18$6.28$7.0084.6%24.1%111.6%9.9%90.8%-4.6%3.9%922.0K-21.8M-318.3K0.2110.9096,74820,018442,941137,329
2025-12-19$6.31$7.0074.5%21.2%92.2%6.1%82.7%-4.3%1.4%902.1K-20.6M-321.3K0.318.3598,56331,001447,230141,820
2025-12-22$6.44$4.5078.9%22.8%83.0%7.8%85.1%-3.8%-2.0%1.5M-56.6M-335.1K0.1717.24174,22030,204368,764129,219
2025-12-23$6.26$7.0078.2%22.5%66.3%7.5%81.7%-5.7%4.1%1.4M-31.6M-336.9K0.2527.3665,79716,208394,933119,645
2025-12-24$6.25$7.0078.3%22.1%66.4%7.6%82.3%-9.1%0.1%1.4M-30.5M-334.4K0.2326.9735,2187,925403,345125,691
2025-12-26$6.04$7.0074.2%21.5%66.7%6.0%82.6%-14.2%4.8%65.6K-18.5M-314.8K0.5029.3473,90036,787416,265127,808
2025-12-29$5.84$7.0078.5%23.2%67.1%7.6%83.5%-7.3%-2.9%324.5K-15.2M-305.7K0.3817.4595,23536,147328,954115,052
2025-12-30$5.80$6.5077.3%22.4%65.3%7.2%83.1%-6.2%1.0%732.1K-18.7M-330.7K0.3611.3562,82722,733372,321130,929
2025-12-31$5.88$6.5076.9%22.3%65.3%7.0%81.8%-1.8%2.3%1.3M-27.0M-346.6K0.3111.4451,11915,613393,463131,701