PFE Options History — December 2025

In December 2025, PFE traded between $24.88 and $26.59. ATM implied volatility averaged 22.5%, placing in the 12.4% IV rank vs the trailing year. The 30-day expected move averaged 6.3%. IV traded below realized volatility by 3.8% (HV 20d: 26.4%). Max pain ranged from $25.00 to $25.50. Net GEX was positive for 14 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 0.53.

Notable Days

2025-12-16: Highest Volume — 361,851 contracts
2025-12-16: Largest IV drop — 10.7% change
2025-12-15: Highest IV Rank — 17.4%
2025-12-02: Largest Expected Move — 7.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$25.42	$24.88	$26.59	$25.31	$24.93
Max Pain	$25.07	$25.00	$25.50	$25.50	$25.00
ATM IV	22.5%	21.1%	24.4%	23.0%	21.1%
Expected Move	6.3%	5.3%	7.5%	7.2%	5.3%
HV 20d	26.4%	23.6%	29.3%	27.4%	24.8%
HV 60d	29.0%	22.8%	31.5%	29.8%	22.8%
IV Rank	12.4%	8.6%	17.4%	13.5%	8.6%
IV Percentile	19.5%	7.9%	42.5%	22.2%	7.9%
Term Structure	0.8%	-1.1%	4.5%	0.4%	1.2%
VWIV	22.6%	18.8%	26.7%	26.1%	18.9%
Skew 25d	0.4%	-0.6%	1.3%	-0.2%	1.1%
Skew 10d	0.5%	-4.8%	2.9%	-0.5%	1.2%
Call IV 25d	22.4%	19.3%	24.5%	23.8%	20.4%
Put IV 25d	22.8%	20.6%	25.5%	23.6%	21.5%
Bid-Ask Spread %	14.18	6.30	28.35	13.81	9.31
Gamma HHI	0.11	0.08	0.19	0.10	0.10
Net GEX	24.0M	-16.5M	87.0M	37.0M	-10.4M
Net DEX	-228.8M	-1.06B	205.9M	-262.8M	144.5M
Net VEX	-11.4M	-12.3M	-10.4M	-12.1M	-10.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.53	0.24	0.98	0.34	0.92
Total Volume	130,466.455	49,728	361,851	133,793	87,985
Total OI	3,284,393.455	2,902,064	3,550,064	3,302,994	3,003,796

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	$25.31	$25.50	23.0%	7.2%	27.4%	13.5%	26.1%	-0.2%	0.4%	37.0M	-262.8M	-12.1M	0.34	13.81	99,735	34,058	1,961,969	1,341,025
2025-12-02	$25.24	$25.50	23.5%	7.5%	27.5%	15.1%	26.5%	-0.6%	-0.4%	31.5M	-191.6M	-12.2M	0.39	6.30	70,195	27,236	1,996,834	1,361,363
2025-12-03	$25.70	$25.50	23.5%	7.5%	27.5%	15.1%	26.7%	0.7%	-0.2%	56.9M	-529.0M	-12.3M	0.26	9.95	91,338	24,104	2,015,006	1,374,324
2025-12-04	$25.63	$25.00	23.1%	6.7%	27.5%	13.9%	24.4%	1.0%	-0.3%	55.0M	-481.1M	-12.3M	0.54	10.92	65,911	35,848	2,024,635	1,379,581
2025-12-05	$26.12	$25.00	23.2%	6.7%	28.0%	14.2%	24.2%	0.6%	-1.0%	87.0M	-849.1M	-12.3M	0.32	13.79	158,247	51,412	2,019,913	1,397,844
2025-12-08	$25.88	$25.00	22.8%	6.9%	27.0%	13.0%	24.9%	0.0%	1.8%	48.5M	-586.7M	-12.2M	0.46	19.47	85,673	39,151	1,967,052	1,403,981
2025-12-09	$25.39	$25.00	23.7%	7.0%	28.1%	15.4%	25.1%	0.1%	0.6%	28.6M	-256.2M	-12.0M	0.47	28.35	65,304	30,678	1,991,278	1,423,246
2025-12-10	$25.76	$25.00	22.6%	6.8%	24.2%	12.5%	24.7%	0.4%	0.4%	44.8M	-509.2M	-12.0M	0.68	27.75	56,703	38,377	1,995,619	1,434,683
2025-12-11	$25.74	$25.00	22.9%	6.6%	23.6%	13.2%	24.2%	0.4%	0.4%	45.5M	-478.9M	-11.7M	0.43	12.06	60,182	25,790	2,010,584	1,441,535
2025-12-12	$25.80	$25.00	23.1%	6.8%	23.6%	13.9%	24.1%	0.7%	0.8%	47.0M	-499.9M	-11.8M	0.40	19.50	94,449	38,071	2,023,262	1,450,427
2025-12-15	$26.59	$25.00	24.4%	7.1%	24.1%	17.4%	24.9%	0.9%	1.1%	64.0M	-1.06B	-11.8M	0.24	15.36	156,970	37,866	1,975,468	1,436,144
2025-12-16	$25.45	$25.00	21.8%	6.3%	29.2%	10.6%	22.3%	0.2%	4.5%	34.8M	-195.9M	-10.9M	0.98	17.81	182,323	179,528	2,004,012	1,481,250
2025-12-17	$25.13	$25.00	21.9%	6.3%	29.3%	10.6%	22.0%	-0.0%	3.1%	3.2M	107.6M	-11.1M	0.77	10.11	123,045	94,721	1,994,869	1,533,751
2025-12-18	$25.11	$25.00	22.0%	6.1%	28.0%	10.9%	22.0%	-0.0%	2.7%	-13.0M	119.8M	-11.0M	0.65	11.65	68,367	44,386	2,002,297	1,547,767
2025-12-19	$25.20	$25.00	21.3%	5.8%	27.3%	9.2%	20.6%	0.2%	4.3%	-439.3K	-24.6M	-11.1M	0.47	11.24	109,968	52,007	2,004,821	1,544,979
2025-12-22	$25.23	$25.00	21.8%	5.5%	25.8%	10.6%	19.9%	0.6%	-0.0%	4.6M	12.5M	-10.7M	0.40	7.56	84,503	33,602	1,621,638	1,280,426
2025-12-23	$24.88	$25.00	22.3%	5.7%	26.1%	11.7%	20.2%	-0.3%	-0.8%	-5.0M	205.9M	-10.8M	0.42	21.87	67,657	28,135	1,654,956	1,301,786
2025-12-24	$25.09	$25.00	22.3%	5.3%	25.4%	11.9%	19.0%	0.0%	-1.1%	-4.6M	83.7M	-10.8M	0.53	7.75	32,553	17,175	1,665,386	1,309,543
2025-12-26	$25.04	$25.00	22.0%	5.4%	25.4%	11.1%	18.8%	0.9%	-1.0%	-16.5M	79.4M	-10.5M	0.98	12.26	53,591	52,767	1,677,396	1,300,947
2025-12-29	$25.07	$25.00	22.1%	5.4%	25.4%	11.4%	19.1%	1.3%	-0.2%	-3.4M	53.6M	-10.5M	0.56	10.63	57,284	32,040	1,643,779	1,284,039
2025-12-30	$25.02	$25.00	21.4%	5.4%	24.8%	9.3%	19.1%	0.6%	1.8%	-7.0M	84.2M	-10.4M	0.42	14.54	57,214	24,113	1,670,097	1,303,348
2025-12-31	$24.93	$25.00	21.1%	5.3%	24.8%	8.6%	18.9%	1.1%	1.2%	-10.4M	144.5M	-10.5M	0.92	9.31	45,714	42,271	1,690,451	1,313,345