OTEX Options History — December 2025

In December 2025, OTEX traded between $32.61 and $33.92. ATM implied volatility averaged 29.6%, placing in the 26.9% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded above realized volatility by 13.4% (HV 20d: 16.2%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 17 of 22 days. Put/call ratio averaged 7.06.

Notable Days

  • 2025-12-04: Highest Volume — 909 contracts
  • 2025-12-04: Largest IV spike — 89.4% change
  • 2025-12-04: Highest IV Rank — 66.0%
  • 2025-12-15: Largest Expected Move — 11.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$33.44$32.61$33.92$33.71$32.61
Max Pain$34.32$30.00$35.00$30.00$35.00
ATM IV29.6%23.9%50.2%28.1%25.4%
Expected Move8.3%6.8%11.1%8.1%7.3%
HV 20d16.2%10.4%28.6%28.6%12.4%
HV 60d24.3%22.1%28.0%28.0%22.2%
IV Rank26.9%16.2%66.0%24.2%19.1%
IV Percentile38.8%13.1%95.2%38.1%20.6%
Term Structure4.4%-16.9%17.9%-1.8%14.5%
VWIV27.0%22.9%36.7%31.4%23.0%
Skew 25d5.5%-1.3%19.2%2.0%-1.3%
Skew 10d6.0%-3.6%25.1%1.9%0.1%
Call IV 25d24.4%16.9%31.4%30.4%22.6%
Put IV 25d30.0%21.3%39.8%32.4%21.3%
Bid-Ask Spread %107.8281.97121.6487.72121.64
Gamma HHI0.220.180.270.190.22
Net GEX76.7K24.4K131.7K92.7K24.4K
Net DEX-1.6M-3.0M-837.4K-2.9M-871.6K
Net VEX-7.1K-8.7K-5.8K-7.3K-6.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio7.060.0099.330.048.00
Total Volume91.5910909759
Total OI3,240.2732,4823,8093,5432,597

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-12-01$33.71$30.0028.1%8.1%28.6%24.2%31.4%2.0%-1.8%92.7K-2.9M-7.3K0.0487.72N/AN/A7232,646897
2025-12-02$33.56$30.0033.0%9.5%28.6%33.5%31.6%3.8%-16.9%90.8K-2.8M-6.8K1.4081.97N/AN/A45632,693898
2025-12-03$33.58$30.0026.5%7.6%28.1%21.2%24.3%1.8%10.2%91.5K-2.8M-7.1K0.1788.21N/AN/A87152,714956
2025-12-04$33.70$35.0050.2%8.2%27.7%66.0%28.5%6.3%4.6%89.4K-3.0M-7.9K0.01102.47N/AN/A899102,794962
2025-12-05$33.55$35.0040.6%9.4%21.2%47.7%26.4%9.3%-2.7%126.3K-1.9M-8.1K1.75120.58N/AN/A16282,419968
2025-12-08$33.59$35.0024.2%10.0%17.0%16.7%0.0%6.3%-14.4%117.7K-1.6M-7.0K0.07114.79N/AN/A3022,419987
2025-12-09$33.52$35.0026.8%8.1%16.7%21.7%0.0%4.6%8.8%131.7K-1.7M-7.6K2.00107.23N/AN/A242,442983
2025-12-10$33.52$35.0033.5%9.6%16.5%34.4%26.4%10.6%5.8%107.1K-1.8M-8.7K0.88120.81N/AN/A872,442981
2025-12-11$33.44$35.0027.9%8.0%16.5%23.7%0.0%2.9%8.2%120.3K-1.6M-7.0K27.75108.77N/AN/A41112,443976
2025-12-12$33.12$35.0027.0%7.7%15.9%22.1%0.0%7.2%5.7%94.8K-1.5M-7.1K0.00111.85N/AN/A102,4441,069
2025-12-15$33.38$35.0038.8%11.1%14.9%44.4%0.0%19.2%-5.9%116.3K-1.5M-6.4K1.83112.58N/AN/A6112,4431,065
2025-12-16$33.30$35.0025.8%7.4%10.8%19.9%36.7%4.5%5.5%107.1K-1.4M-6.0K99.33111.39N/AN/A32982,4461,058
2025-12-17$33.53$35.0028.2%8.1%10.9%24.4%25.9%3.7%3.1%63.3K-1.4M-6.8K0.12108.42N/AN/A5162,4461,332
2025-12-18$33.57$35.0025.6%7.3%10.8%19.4%27.5%4.1%14.0%70.3K-1.3M-7.5K0.00104.53N/AN/A602,4791,330
2025-12-19$33.27$35.0027.0%7.7%10.4%22.1%25.3%2.1%6.3%33.3K-1.5M-6.7K0.00110.11N/AN/A2702,4811,326
2025-12-22$33.92$35.0023.9%6.8%11.6%16.2%23.9%6.1%5.6%40.8K-1.1M-6.7K0.04100.43N/AN/A9941,764718
2025-12-23$33.47$35.0028.1%8.1%12.7%24.2%0.0%1.9%12.6%40.4K-1.0M-7.5K0.00108.20N/AN/A001,811719
2025-12-24$33.41$35.0026.1%7.5%11.3%20.4%0.0%2.3%10.1%33.6K-852.8K-7.1K0.00114.58N/AN/A1201,811719
2025-12-26$33.44$35.0026.3%7.5%11.2%20.7%22.9%16.3%17.9%43.3K-967.3K-8.0K4.00112.08N/AN/A141,811719
2025-12-29$33.26$35.0026.9%7.7%11.2%21.9%26.1%7.3%1.5%25.0K-843.1K-5.8K0.88120.70N/AN/A871,812721
2025-12-30$33.15$35.0030.7%8.8%11.1%29.0%25.3%1.1%3.8%26.7K-837.4K-6.0K0.02102.91N/AN/A5511,818727
2025-12-31$32.61$35.0025.4%7.3%12.4%19.1%23.0%-1.3%14.5%24.4K-871.6K-6.7K8.00121.64N/AN/A181,870727