ORCL Options History — December 2025

In December 2025, ORCL traded between $177.55 and $224.70. ATM implied volatility averaged 50.3%, placing in the 58.6% IV rank vs the trailing year. The 30-day expected move averaged 14.7%. IV traded below realized volatility by 11.3% (HV 20d: 61.6%). Max pain ranged from $200.00 to $220.00. Net GEX was positive for 13 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.62.

Notable Days

2025-12-11: Highest Volume — 1,634,594 contracts
2025-12-11: Largest IV drop — 27.7% change
2025-12-02: Highest IV Rank — 88.9%
2025-12-03: Largest Expected Move — 22.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$199.97	$177.55	$224.70	$201.14	$195.56
Max Pain	$210.00	$200.00	$220.00	$220.00	$200.00
ATM IV	50.3%	40.8%	64.5%	63.2%	42.4%
Expected Move	14.7%	11.8%	22.4%	21.6%	11.9%
HV 20d	61.6%	50.1%	71.5%	50.1%	64.5%
HV 60d	58.5%	50.4%	83.6%	83.5%	55.8%
IV Rank	58.6%	38.5%	88.9%	86.2%	40.3%
IV Percentile	63.6%	38.5%	96.8%	95.6%	43.3%
Term Structure	-0.9%	-5.0%	2.7%	-5.0%	0.8%
VWIV	52.3%	42.2%	79.0%	75.4%	42.5%
Skew 25d	0.9%	-0.9%	2.1%	1.6%	0.8%
Skew 10d	1.5%	-3.5%	4.8%	4.8%	1.8%
Call IV 25d	50.3%	40.7%	62.7%	61.8%	42.1%
Put IV 25d	51.1%	41.3%	64.1%	63.3%	42.9%
Bid-Ask Spread %	21.61	7.76	37.17	23.14	16.82
Gamma HHI	0.07	0.03	0.31	0.04	0.05
Net GEX	-7.8M	-247.0M	117.5M	-31.8M	3.8M
Net DEX	1.12B	-2.63B	5.54B	2.12B	824.2M
Net VEX	-53.6M	-58.5M	-48.5M	-48.9M	-55.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.62	0.35	1.79	0.65	0.47
Total Volume	396,075.5	84,124	1,634,594	162,461	84,124
Total OI	2,144,208.5	1,821,228	2,532,100	1,821,228	2,100,056

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	$201.14	$220.00	63.2%	21.6%	50.1%	86.2%	75.4%	1.6%	-5.0%	-31.8M	2.12B	-48.9M	0.65	23.14	98,274	64,187	915,889	905,339
2025-12-02	$201.02	$220.00	64.5%	22.1%	50.2%	88.9%	77.3%	1.2%	-4.4%	-31.3M	2.08B	-49.3M	0.43	12.61	170,819	73,103	935,467	913,051
2025-12-03	$207.39	$220.00	64.4%	22.4%	51.6%	88.8%	79.0%	1.4%	-4.0%	11.0M	821.2M	-51.2M	0.43	10.08	132,761	57,319	980,039	935,053
2025-12-04	$214.85	$220.00	62.1%	16.7%	53.3%	83.9%	58.6%	1.5%	-2.5%	83.8M	-829.6M	-53.2M	0.37	33.98	224,866	83,060	1,008,261	953,118
2025-12-05	$216.85	$220.00	60.9%	16.5%	52.8%	81.4%	58.1%	1.3%	-2.7%	94.5M	-1.40B	-54.7M	0.35	37.17	239,573	84,048	1,046,803	979,841
2025-12-08	$219.78	$220.00	62.8%	17.1%	52.9%	85.4%	60.1%	1.3%	-2.5%	37.0M	-1.49B	-54.6M	0.36	31.43	169,841	61,391	990,223	940,835
2025-12-09	$221.69	$220.00	62.7%	16.9%	53.0%	85.2%	60.0%	0.8%	-3.2%	50.9M	-1.99B	-55.3M	0.54	32.13	132,296	71,909	1,026,901	964,266
2025-12-10	$224.70	$220.00	62.0%	16.9%	53.0%	83.6%	60.4%	-0.9%	-3.3%	68.2M	-2.63B	-55.9M	0.52	29.83	360,391	188,650	1,058,836	986,527
2025-12-11	$199.58	$220.00	44.8%	12.9%	66.4%	47.0%	47.0%	0.2%	0.0%	-139.2M	3.41B	-48.5M	0.88	8.77	871,046	763,548	1,210,056	1,082,369
2025-12-12	$189.73	$220.00	44.0%	12.6%	67.0%	45.3%	45.1%	0.8%	0.2%	-247.0M	4.47B	-50.1M	0.73	30.17	481,227	351,397	1,390,284	1,141,816
2025-12-15	$184.23	$210.00	44.2%	12.7%	66.0%	45.8%	45.3%	0.3%	0.6%	-101.7M	4.36B	-48.8M	0.82	26.15	241,965	198,104	1,191,038	1,019,564
2025-12-16	$188.78	$210.00	43.6%	12.5%	66.7%	44.5%	44.6%	1.3%	-1.6%	-65.3M	3.11B	-51.8M	0.85	21.00	178,247	150,730	1,241,370	1,066,453
2025-12-17	$177.55	$200.00	45.9%	13.2%	68.6%	49.4%	46.9%	2.1%	-0.2%	-147.2M	5.54B	-49.7M	1.22	24.74	289,936	354,206	1,289,226	1,101,983
2025-12-18	$180.25	$200.00	44.6%	12.8%	68.4%	46.7%	45.7%	1.8%	-0.1%	-115.7M	4.50B	-51.3M	1.79	28.76	214,688	383,634	1,347,997	1,121,762
2025-12-19	$193.83	$200.00	43.5%	12.5%	71.5%	44.2%	44.8%	0.3%	-0.4%	117.5M	128.4M	-56.4M	0.54	16.86	534,603	290,989	1,376,266	1,128,512
2025-12-22	$198.18	$200.00	43.0%	12.5%	68.4%	43.2%	44.9%	1.0%	0.4%	59.4M	-114.5M	-57.9M	0.40	7.76	212,522	84,263	1,089,525	1,003,995
2025-12-23	$195.30	$200.00	41.1%	12.0%	68.6%	39.1%	43.0%	0.6%	2.7%	28.3M	722.0M	-56.6M	0.59	18.11	146,779	86,313	1,126,765	1,018,808
2025-12-24	$197.63	$200.00	41.2%	11.9%	68.2%	39.3%	42.6%	0.5%	2.4%	82.4M	-105.2M	-58.5M	0.45	23.61	78,816	35,604	1,170,366	1,043,527
2025-12-26	$198.51	$200.00	40.8%	11.8%	64.8%	38.5%	42.2%	0.5%	1.1%	53.5M	-192.1M	-57.8M	0.40	16.68	160,023	63,202	1,176,108	1,048,439
2025-12-29	$195.39	$200.00	42.5%	12.1%	64.3%	42.2%	43.1%	0.3%	0.4%	-2.7M	865.8M	-55.9M	0.56	11.49	75,983	42,681	1,065,907	997,582
2025-12-30	$197.41	$200.00	42.1%	12.0%	64.4%	40.4%	43.2%	0.8%	0.4%	19.0M	331.1M	-56.6M	0.36	14.19	93,212	33,331	1,074,108	1,008,256
2025-12-31	$195.56	$200.00	42.4%	11.9%	64.5%	40.3%	42.5%	0.8%	0.8%	3.8M	824.2M	-55.5M	0.47	16.82	57,370	26,754	1,086,134	1,013,922