PCEF Options History — October 2025

In October 2025, PCEF traded between $19.73 and $20.19. ATM implied volatility averaged 53.4%, placing in the 24.9% IV rank vs the trailing year. The 30-day expected move averaged 12.9%. IV traded above realized volatility by 46.3% (HV 20d: 7.2%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 0 of 23 days. Put/call ratio averaged 0.00.

Notable Days

2025-10-16: Highest Volume — 5 contracts
2025-10-24: Largest IV spike — 1770.4% change
2025-10-01: Highest IV Rank — 70.6%
2025-10-01: Largest Expected Move — 41.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.96	$19.73	$20.19	$20.09	$20.04
Max Pain	$20.00	$20.00	$20.00	$20.00	$20.00
ATM IV	53.4%	5.9%	145.6%	145.6%	34.5%
Expected Move	12.9%	1.7%	41.7%	41.7%	9.9%
HV 20d	7.2%	4.5%	8.5%	4.7%	8.3%
HV 60d	5.6%	4.4%	6.2%	4.6%	6.1%
IV Rank	24.9%	1.4%	70.6%	70.6%	15.6%
IV Percentile	75.6%	0.8%	99.6%	99.6%	74.6%
Term Structure	-34.5%	-116.8%	-6.1%	-62.4%	-32.6%
VWIV	42.7%	8.8%	110.2%	8.8%	9.1%
Skew 25d	17.5%	2.9%	99.3%	33.9%	31.6%
Skew 10d	15.3%	4.7%	99.3%	33.9%	10.3%
Call IV 25d	47.7%	7.9%	174.3%	174.3%	14.7%
Put IV 25d	65.2%	23.7%	208.2%	208.2%	46.3%
Bid-Ask Spread %	173.60	154.77	199.17	198.89	166.33
Gamma HHI	0.64	0.44	0.84	0.61	0.81
Net GEX	769	228	986	315	784
Net DEX	-9.5K	-22.9K	-5.8K	-22.9K	-9.2K
Net VEX	-39	-56	-34	-56	-35
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.522	0	5	0	0
Total OI	18.609	11	24	23	13

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-10-01	$20.09	$20.00	145.6%	41.7%	4.7%	70.6%	0.0%	33.9%	-62.4%	315	-22.9K	-56	198.89	N/A	N/A	0	0	22	1
2025-10-02	$20.08	$20.00	37.8%	10.8%	4.6%	17.2%	0.0%	5.0%	-11.0%	935	-10.7K	-44	167.45	N/A	N/A	0	0	22	1
2025-10-03	$20.06	$20.00	39.9%	11.4%	4.6%	18.3%	0.0%	6.5%	-13.8%	916	-10.6K	-44	168.94	N/A	N/A	0	1	22	1
2025-10-06	$20.07	$0.00	44.1%	7.9%	4.5%	20.3%	0.0%	4.9%	-13.0%	861	-9.6K	-45	171.96	N/A	N/A	0	0	22	2
2025-10-07	$20.13	$0.00	46.1%	7.8%	4.6%	21.3%	0.0%	4.8%	-13.0%	874	-9.9K	-45	171.89	N/A	N/A	0	0	22	2
2025-10-08	$20.19	$0.00	48.5%	7.9%	4.7%	22.5%	0.0%	4.7%	-13.1%	890	-10.2K	-45	171.60	N/A	N/A	0	0	22	2
2025-10-09	$20.14	$0.00	51.6%	8.0%	4.7%	24.0%	0.0%	5.6%	-13.4%	868	-9.9K	-43	171.03	N/A	N/A	0	0	22	2
2025-10-10	$19.80	$0.00	53.3%	7.9%	7.6%	24.9%	0.0%	7.8%	-26.1%	979	-8.0K	-42	168.83	N/A	N/A	0	0	22	2
2025-10-13	$19.94	$0.00	70.4%	8.6%	8.0%	33.3%	0.0%	7.0%	-26.5%	890	-8.5K	-40	171.84	N/A	N/A	0	0	22	2
2025-10-14	$19.91	$0.00	77.8%	8.4%	8.0%	37.0%	0.0%	7.0%	-27.0%	890	-8.1K	-39	169.75	N/A	N/A	0	0	22	2
2025-10-15	$19.99	$0.00	29.7%	8.5%	8.1%	13.2%	0.0%	5.9%	-27.1%	894	-8.5K	-38	168.10	N/A	N/A	0	0	22	2
2025-10-16	$19.84	$0.00	30.6%	8.8%	8.5%	13.6%	0.0%	8.4%	-27.1%	986	-9.0K	-38	169.31	N/A	N/A	5	0	22	2
2025-10-17	$19.82	$0.00	30.5%	8.8%	8.4%	13.6%	0.0%	8.2%	-27.6%	705	-5.8K	-35	168.08	N/A	N/A	0	3	22	2
2025-10-20	$19.73	$0.00	29.2%	8.4%	8.4%	13.0%	0.0%	5.5%	-26.6%	742	-7.6K	-34	168.50	N/A	N/A	0	0	10	1
2025-10-21	$19.77	$0.00	28.6%	8.2%	8.5%	12.6%	0.0%	5.3%	-25.7%	765	-7.7K	-34	168.04	N/A	N/A	0	0	10	1
2025-10-22	$19.77	$0.00	107.1%	30.7%	8.4%	51.5%	0.0%	99.3%	-106.0%	250	-9.6K	-34	199.17	N/A	N/A	0	0	10	1
2025-10-23	$19.84	$0.00	5.9%	1.7%	8.4%	1.4%	8.8%	2.9%	-6.1%	836	-7.9K	-34	154.77	N/A	N/A	1	0	10	1
2025-10-24	$19.91	$0.00	110.5%	31.7%	8.5%	53.2%	110.2%	22.3%	-108.6%	228	-10.0K	-34	198.80	N/A	N/A	0	1	10	1
2025-10-27	$19.98	$20.00	20.3%	5.8%	8.5%	8.6%	9.1%	31.4%	-7.2%	675	-7.8K	-35	167.32	N/A	N/A	1	0	10	2
2025-10-28	$19.98	$20.00	119.2%	34.2%	8.5%	57.5%	0.0%	25.5%	-116.8%	806	-9.0K	-37	199.09	N/A	N/A	0	0	11	2
2025-10-29	$19.96	$20.00	33.1%	9.5%	8.2%	14.9%	0.0%	34.3%	-31.5%	795	-8.7K	-36	166.07	N/A	N/A	0	0	11	2
2025-10-30	$19.97	$20.00	34.5%	9.9%	8.2%	15.6%	0.0%	33.7%	-32.2%	797	-8.8K	-36	167.05	N/A	N/A	0	0	11	2
2025-10-31	$20.04	$20.00	34.5%	9.9%	8.3%	15.6%	0.0%	31.6%	-32.6%	784	-9.2K	-35	166.33	N/A	N/A	0	0	11	2