PCEF Options History — August 2025

In August 2025, PCEF traded between $19.54 and $19.96. ATM implied volatility averaged 33.1%, placing in the 20.9% IV rank vs the trailing year. The 30-day expected move averaged 6.4%. IV traded above realized volatility by 28.5% (HV 20d: 4.6%). Max pain ranged from $19.00 to $20.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.00.

Notable Days

  • 2025-08-19: Highest Volume — 15 contracts
  • 2025-08-25: Largest IV spike — 682.6% change
  • 2025-08-25: Highest IV Rank — 92.3%
  • 2025-08-25: Largest Expected Move — 37.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$19.79$19.54$19.96$19.54$19.96
Max Pain$19.50$19.00$20.00$19.00$20.00
ATM IV33.1%3.1%132.1%41.7%18.3%
Expected Move6.4%0.9%37.9%12.0%5.2%
HV 20d4.6%3.9%5.4%4.7%5.2%
HV 60d5.5%5.0%6.3%6.2%5.1%
IV Rank20.9%0.0%92.3%26.2%10.9%
IV Percentile42.3%0.0%99.2%88.5%17.1%
Term Structure10.0%-37.4%23.0%-37.4%23.0%
VWIV28.7%2.5%40.5%40.5%2.5%
Skew 25d20.7%2.2%154.0%33.1%2.3%
Skew 10d28.6%-10.2%205.2%25.6%6.7%
Call IV 25d28.6%5.4%39.4%24.0%39.4%
Put IV 25d49.4%27.6%171.8%57.1%41.6%
Bid-Ask Spread %150.13141.61193.78155.92150.49
Gamma HHI0.780.570.870.570.86
Net GEX1.0K4091.7K4581.7K
Net DEX-16.8K-28.5K-8.4K-8.4K-26.2K
Net VEX-85-121-55-77-117
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.000.000.000.000.00
Total Volume1.09501513
Total OI23.23816312231

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-08-01$19.54$0.0041.7%12.0%4.7%26.2%0.0%33.1%-37.4%458-8.4K-770.00155.92N/AN/A01157
2025-08-04$19.66$19.0028.6%4.6%4.2%16.6%40.5%4.0%17.3%527-9.8K-730.00141.61N/AN/A01156
2025-08-05$19.68$19.0028.1%4.5%4.1%16.2%40.2%4.7%19.0%595-10.7K-700.00142.73N/AN/A01155
2025-08-06$19.73$19.0037.9%4.8%3.9%23.4%31.5%7.2%17.9%716-11.8K-670.00149.97N/AN/A01154
2025-08-07$19.75$19.0049.9%4.7%3.9%32.1%0.0%27.5%18.0%838-12.5K-640.00147.32N/AN/A00153
2025-08-08$19.83$19.0053.3%4.6%3.9%34.6%0.0%6.6%-0.3%959-12.7K-640.00143.53N/AN/A00153
2025-08-11$19.81$19.0067.4%4.6%3.9%44.9%0.0%4.0%-0.5%927-12.5K-630.00149.32N/AN/A00153
2025-08-12$19.91$19.0076.0%4.8%4.2%51.2%0.0%3.3%-0.2%892-13.2K-630.00149.49N/AN/A10153
2025-08-13$19.91$19.0015.8%4.5%4.2%7.2%0.0%2.2%-0.2%968-13.3K-620.00147.19N/AN/A00153
2025-08-14$19.92$19.003.1%0.9%4.2%0.0%0.0%118.9%20.2%409-14.0K-640.00152.57N/AN/A00153
2025-08-15$19.87$19.0016.1%4.6%4.2%9.4%0.0%3.5%21.1%973-12.9K-610.00145.48N/AN/A00153
2025-08-18$19.76$20.006.1%1.8%4.5%2.2%0.0%22.3%20.0%1.0K-9.8K-550.00142.68N/AN/A00133
2025-08-19$19.70$20.0016.0%4.6%4.6%9.2%0.0%5.7%20.2%670-10.0K-550.00148.07N/AN/A150133
2025-08-20$19.66$20.0016.7%4.8%4.7%9.8%0.0%7.4%20.3%1.6K-23.1K-1210.00145.81N/AN/A00283
2025-08-21$19.63$20.0018.1%5.2%4.7%10.7%0.0%7.3%19.7%1.5K-22.8K-1200.00147.92N/AN/A00283
2025-08-22$19.77$20.0016.9%4.8%5.2%9.9%0.0%5.7%19.8%1.6K-24.2K-1210.00148.41N/AN/A00283
2025-08-25$19.83$20.00132.1%37.9%5.3%92.3%0.0%154.0%2.8%564-28.5K-1200.00193.78N/AN/A00283
2025-08-26$19.90$20.0017.7%5.1%5.4%10.5%0.0%3.8%2.9%1.7K-25.6K-1190.00149.46N/AN/A00283
2025-08-27$19.91$20.0017.5%5.0%5.3%10.3%0.0%4.0%3.0%1.7K-25.7K-1180.00150.25N/AN/A00283
2025-08-28$19.90$20.0017.9%5.1%5.4%10.6%0.0%8.3%2.9%1.7K-25.5K-1180.00150.68N/AN/A00283
2025-08-29$19.96$20.0018.3%5.2%5.2%10.9%2.5%2.3%23.0%1.7K-26.2K-1170.00150.49N/AN/A30283