PL Options History — September 2025

In September 2025, PL traded between $6.46 and $12.98. ATM implied volatility averaged 84.3%, placing in the 19.3% IV rank vs the trailing year. The 30-day expected move averaged 24.6%. IV traded below realized volatility by 44.6% (HV 20d: 128.9%). Max pain ranged from $4.00 to $6.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 0.32.

Notable Days

2025-09-08: Highest Volume — 102,485 contracts
2025-09-08: Largest IV drop — 20.9% change
2025-09-02: Highest IV Rank — 32.7%
2025-09-03: Largest Expected Move — 37.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$9.97	$6.46	$12.98	$6.61	$12.98
Max Pain	$4.43	$4.00	$6.00	$6.00	$5.00
ATM IV	84.3%	68.5%	110.7%	110.7%	84.7%
Expected Move	24.6%	19.3%	37.8%	37.5%	24.7%
HV 20d	128.9%	47.7%	149.8%	48.7%	145.1%
HV 60d	89.6%	56.2%	98.5%	56.8%	95.9%
IV Rank	19.3%	11.2%	32.7%	32.7%	19.4%
IV Percentile	35.7%	7.1%	89.7%	89.7%	35.7%
Term Structure	-2.1%	-11.8%	2.7%	-4.5%	-3.2%
VWIV	87.4%	69.3%	137.9%	133.8%	87.5%
Skew 25d	-10.8%	-17.2%	-4.7%	-13.7%	-8.0%
Skew 10d	-23.0%	-50.8%	-7.4%	-41.8%	-15.0%
Call IV 25d	93.3%	72.1%	124.4%	122.6%	89.3%
Put IV 25d	82.5%	67.3%	108.9%	108.9%	81.3%
Bid-Ask Spread %	36.59	11.63	53.99	31.91	35.53
Gamma HHI	0.22	0.12	0.33	0.26	0.13
Net GEX	822.5K	538.0K	1.1M	551.9K	906.7K
Net DEX	-78.4M	-122.0M	-27.9M	-29.8M	-122.0M
Net VEX	-164.7K	-262.5K	-95.4K	-98.9K	-262.5K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.32	0.13	0.62	0.48	0.35
Total Volume	25,434.857	5,247	102,485	10,181	35,816
Total OI	153,731.857	123,745	191,660	123,745	185,773

Daily Data (21 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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-09-02	$6.61	$6.00	110.7%	37.5%	48.7%	32.7%	133.8%	-13.7%	-4.5%	551.9K	-29.8M	-98.9K	0.48	31.91	N/A	N/A	6,891	3,290	105,612	18,133
2025-09-03	$6.47	$6.00	109.0%	37.8%	48.0%	31.9%	137.9%	-17.2%	-11.8%	538.0K	-28.3M	-96.0K	0.17	34.69	N/A	N/A	4,918	842	107,281	19,543
2025-09-04	$6.46	$4.00	106.3%	27.5%	48.0%	30.5%	98.8%	-14.5%	-5.5%	555.3K	-27.9M	-95.4K	0.15	29.33	N/A	N/A	4,557	690	109,690	19,911
2025-09-05	$6.49	$4.00	106.5%	27.6%	47.7%	30.6%	103.2%	-16.2%	-6.9%	619.8K	-29.2M	-96.8K	0.33	28.52	N/A	N/A	12,210	4,061	111,774	20,315
2025-09-08	$9.54	$4.00	84.2%	23.7%	144.3%	19.2%	82.6%	-9.1%	-0.1%	901.3K	-87.4M	-102.3K	0.25	11.63	N/A	N/A	82,046	20,439	117,750	22,958
2025-09-09	$9.11	$4.00	69.0%	20.0%	146.2%	11.4%	69.4%	-7.6%	-0.5%	976.3K	-63.7M	-110.2K	0.41	38.80	N/A	N/A	35,881	14,604	111,751	34,758
2025-09-10	$8.84	$4.00	68.5%	19.3%	146.8%	11.2%	69.3%	-4.7%	-2.7%	796.5K	-52.3M	-115.8K	0.35	53.99	N/A	N/A	19,367	6,726	108,764	39,654
2025-09-11	$9.72	$4.00	77.5%	22.3%	149.6%	15.8%	78.6%	-13.2%	1.0%	1.0M	-77.1M	-134.3K	0.28	37.30	N/A	N/A	25,458	7,208	114,961	38,777
2025-09-12	$9.68	$4.00	77.2%	22.0%	149.6%	15.6%	74.1%	-9.0%	-0.2%	854.6K	-78.2M	-160.2K	0.32	36.12	N/A	N/A	14,103	4,460	124,697	46,326
2025-09-15	$9.80	$4.00	75.6%	21.8%	149.6%	14.8%	77.0%	-8.4%	0.8%	887.1K	-70.8M	-155.7K	0.30	37.79	N/A	N/A	8,970	2,648	110,199	33,069
2025-09-16	$9.73	$4.00	74.8%	21.5%	149.8%	14.4%	75.8%	-11.4%	2.7%	880.4K	-70.3M	-165.3K	0.54	33.51	N/A	N/A	5,028	2,735	112,624	35,405
2025-09-17	$10.19	$4.00	75.5%	21.6%	146.8%	14.7%	77.2%	-11.4%	-2.2%	1.0M	-81.0M	-165.2K	0.54	44.58	N/A	N/A	8,341	4,518	113,152	34,930
2025-09-18	$10.46	$4.00	73.3%	21.0%	146.6%	13.6%	76.1%	-8.6%	0.3%	1.1M	-87.4M	-168.6K	0.14	43.95	N/A	N/A	15,749	2,141	115,063	36,664
2025-09-19	$11.23	$4.00	83.4%	24.1%	147.2%	18.8%	86.4%	-15.4%	-3.2%	577.5K	-100.1M	-151.7K	0.27	36.77	N/A	N/A	27,695	7,554	111,842	36,381
2025-09-22	$11.00	$4.00	79.5%	23.1%	147.8%	16.8%	82.9%	-6.8%	-0.6%	855.9K	-84.1M	-181.9K	0.13	37.42	N/A	N/A	14,090	1,849	106,895	35,510
2025-09-23	$12.02	$4.00	79.9%	23.1%	149.5%	17.0%	82.5%	-10.5%	-1.6%	864.2K	-106.3M	-195.4K	0.56	42.34	N/A	N/A	29,852	16,800	112,976	36,038
2025-09-24	$11.89	$5.00	85.3%	24.3%	149.2%	19.7%	84.9%	-11.2%	-3.5%	974.2K	-109.3M	-240.5K	0.62	37.13	N/A	N/A	14,845	9,268	130,036	49,872
2025-09-25	$12.00	$5.00	84.3%	24.4%	149.3%	19.3%	85.8%	-12.1%	-1.7%	903.0K	-109.4M	-253.9K	0.13	40.49	N/A	N/A	14,006	1,775	133,064	56,993
2025-09-26	$12.20	$5.00	81.8%	23.8%	149.4%	17.9%	84.2%	-10.1%	-1.6%	688.7K	-114.0M	-254.1K	0.28	43.05	N/A	N/A	13,149	3,744	134,434	57,226
2025-09-29	$12.96	$5.00	84.2%	25.0%	148.2%	19.2%	87.4%	-6.6%	1.3%	801.4K	-118.6M	-253.6K	0.16	33.65	N/A	N/A	22,267	3,541	124,912	52,656
2025-09-30	$12.98	$5.00	84.7%	24.7%	145.1%	19.4%	87.5%	-8.0%	-3.2%	906.7K	-122.0M	-262.5K	0.35	35.53	N/A	N/A	26,463	9,353	131,655	54,118