OTEX Options History — September 2025

In September 2025, OTEX traded between $32.94 and $38.17. ATM implied volatility averaged 28.2%, placing in the 24.3% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded below realized volatility by 1.6% (HV 20d: 29.8%). Max pain ranged from $30.00 to $32.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 19 of 21 days. Put/call ratio averaged 0.53.

Notable Days

  • 2025-09-08: Highest Volume — 862 contracts
  • 2025-09-09: Largest IV spike — 48.4% change
  • 2025-09-09: Highest IV Rank — 37.1%
  • 2025-09-24: Largest Expected Move — 9.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.96$32.94$38.17$32.94$37.37
Max Pain$31.79$30.00$32.50$30.00$32.50
ATM IV28.2%21.8%34.9%25.1%24.6%
Expected Move8.1%6.2%9.9%7.2%7.0%
HV 20d29.8%18.6%46.3%46.3%29.3%
HV 60d35.6%34.7%36.7%35.1%36.7%
IV Rank24.3%12.1%37.1%18.6%17.4%
IV Percentile41.6%6.0%71.4%25.8%19.0%
Term Structure3.6%-1.1%18.2%0.8%18.2%
VWIV28.1%16.3%40.4%25.1%31.0%
Skew 25d11.4%-3.3%62.2%4.1%18.7%
Skew 10d18.1%-7.4%117.8%6.3%21.8%
Call IV 25d22.1%14.8%33.2%25.0%17.3%
Put IV 25d33.5%18.2%80.0%29.1%36.0%
Bid-Ask Spread %92.5338.90118.2699.0899.31
Gamma HHI0.360.210.640.390.21
Net GEX180.6K103.5K273.8K114.6K195.3K
Net DEX-6.7M-9.1M-3.4M-3.4M-7.9M
Net VEX-17.2K-21.7K-12.8K-14.1K-21.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.530.004.100.610.04
Total Volume194.95288622947
Total OI4,416.3813,6705,3333,7364,647

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$32.94$30.0025.1%7.2%46.3%18.6%25.1%4.1%0.8%114.6K-3.4M-14.1K0.6199.08N/AN/A18112,1111,625
2025-09-03$32.95$30.0024.5%7.0%46.0%17.3%0.0%62.2%2.4%113.0K-3.5M-13.8K0.6794.81N/AN/A642,1181,629
2025-09-04$33.33$30.0023.8%7.0%46.0%15.9%23.1%4.9%5.4%122.3K-3.7M-14.0K0.5797.65N/AN/A23132,1191,628
2025-09-05$33.29$30.0025.7%9.0%43.6%19.6%0.0%6.0%0.4%113.7K-3.6M-13.4K2.20118.26N/AN/A5112,0431,633
2025-09-08$33.95$30.0023.5%8.5%29.1%15.5%27.3%1.2%2.8%103.5K-4.0M-13.5K0.30114.85N/AN/A6641982,0441,626
2025-09-09$34.23$30.0034.9%7.3%26.6%37.1%26.6%3.5%4.7%234.6K-4.8M-15.3K0.5496.24N/AN/A90492,5871,650
2025-09-10$35.05$32.5027.5%7.9%24.3%23.0%27.5%14.6%3.8%265.1K-5.7M-15.0K0.22100.89N/AN/A195422,6271,676
2025-09-11$35.35$32.5027.7%7.9%18.6%23.4%27.7%15.5%-1.1%273.8K-6.3M-14.5K0.0797.16N/AN/A137102,6981,685
2025-09-12$35.81$32.5021.8%6.2%18.8%12.1%27.5%0.0%4.9%267.6K-6.7M-15.1K0.2893.74N/AN/A36102,8151,686
2025-09-15$37.63$32.5028.5%8.2%23.8%24.9%29.0%3.2%1.6%153.1K-8.5M-12.8K0.0877.42N/AN/A757632,8481,686
2025-09-16$36.61$32.5022.1%6.3%26.9%12.7%16.3%13.7%4.1%225.9K-8.4M-18.6K0.1495.09N/AN/A81113,4981,726
2025-09-17$36.67$32.5028.6%8.2%26.2%25.2%29.0%-3.3%7.5%242.4K-8.3M-19.2K0.0097.91N/AN/A10603,5161,736
2025-09-18$37.30$32.5029.3%8.4%25.9%26.5%29.3%12.7%6.5%195.3K-9.1M-19.7K0.15100.47N/AN/A2743,5931,736
2025-09-19$37.02$32.5028.5%8.2%26.0%25.0%29.9%-0.2%4.2%144.5K-9.0M-18.5K0.5394.36N/AN/A159853,5931,740
2025-09-22$37.88$32.5031.1%8.9%25.9%29.9%21.0%16.6%2.9%135.7K-7.4M-18.5K0.1381.47N/AN/A335442,9451,031
2025-09-23$37.23$32.5030.6%8.8%26.8%29.0%31.0%12.8%2.5%157.4K-7.6M-19.9K0.1738.90N/AN/A108183,2471,032
2025-09-24$38.17$32.5034.4%9.9%27.2%36.1%19.3%18.2%-0.4%158.4K-8.2M-20.2K0.0482.11N/AN/A478203,2441,031
2025-09-25$37.17$32.5034.0%9.8%29.2%35.3%40.4%15.8%0.6%188.1K-7.8M-21.7K4.1083.22N/AN/A21863,5771,048
2025-09-26$37.50$32.5033.0%9.5%29.3%33.4%37.7%14.6%2.4%194.3K-7.9M-20.7K0.1491.49N/AN/A713,5721,064
2025-09-29$37.70$32.5033.0%9.5%29.2%33.5%35.9%3.6%1.2%194.7K-8.2M-21.3K0.0688.70N/AN/A10863,5691,065
2025-09-30$37.37$32.5024.6%7.0%29.3%17.4%31.0%18.7%18.2%195.3K-7.9M-21.6K0.0499.31N/AN/A4523,5791,068