PL Options History — December 2025

In December 2025, PL traded between $11.73 and $20.88. ATM implied volatility averaged 88.4%, placing in the 31.6% IV rank vs the trailing year. The 30-day expected move averaged 25.8%. IV traded below realized volatility by 9.3% (HV 20d: 97.6%). Max pain ranged from $9.00 to $11.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 10 of 22 days. Put/call ratio averaged 0.48.

Notable Days

2025-12-11: Highest Volume — 104,314 contracts
2025-12-11: Largest IV drop — 33.0% change
2025-12-22: Highest IV Rank — 40.2%
2025-12-03: Largest Expected Move — 39.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$16.61	$11.73	$20.88	$11.73	$19.73
Max Pain	$9.82	$9.00	$11.00	$11.00	$10.00
ATM IV	88.4%	69.8%	120.8%	112.5%	69.8%
Expected Move	25.8%	18.8%	39.6%	38.8%	20.3%
HV 20d	97.6%	52.4%	121.5%	65.4%	121.1%
HV 60d	83.3%	66.3%	103.9%	103.9%	89.9%
IV Rank	31.6%	15.3%	40.2%	33.5%	25.4%
IV Percentile	37.8%	3.6%	92.5%	88.5%	3.6%
Term Structure	0.7%	-8.7%	16.1%	3.5%	1.7%
VWIV	91.1%	70.4%	138.0%	134.9%	70.4%
Skew 25d	0.6%	-13.9%	30.8%	30.8%	0.7%
Skew 10d	2.4%	-22.4%	35.7%	3.5%	-5.6%
Call IV 25d	90.0%	69.0%	117.7%	86.9%	71.4%
Put IV 25d	90.7%	69.9%	121.0%	117.7%	72.1%
Bid-Ask Spread %	50.27	20.27	69.64	67.31	51.16
Gamma HHI	0.13	0.11	0.16	0.11	0.13
Net GEX	1.2M	542.5K	2.0M	542.5K	1.5M
Net DEX	-154.0M	-239.2M	-54.6M	-54.6M	-201.2M
Net VEX	-467.4K	-530.6K	-344.9K	-344.9K	-509.6K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.48	0.13	1.70	0.90	1.70
Total Volume	20,314	3,598	104,314	14,287	11,888
Total OI	202,537.909	150,950	226,113	150,950	216,430

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-12-01	$11.73	$11.00	112.5%	38.8%	65.4%	33.5%	134.9%	30.8%	3.5%	542.5K	-54.6M	-344.9K	0.90	67.31	N/A	N/A	7,531	6,756	103,953	46,997
2025-12-02	$11.88	$11.00	99.5%	39.5%	65.1%	26.9%	131.7%	10.6%	9.3%	590.9K	-61.8M	-384.3K	0.78	65.34	N/A	N/A	3,534	2,772	110,028	53,445
2025-12-03	$11.96	$11.00	106.6%	39.6%	65.0%	30.5%	138.0%	5.3%	-6.5%	618.4K	-62.1M	-391.0K	0.40	69.64	N/A	N/A	2,572	1,026	111,729	55,695
2025-12-04	$12.93	$9.00	120.8%	31.0%	70.1%	37.8%	107.7%	4.3%	-7.0%	662.3K	-78.2M	-406.7K	0.14	45.51	N/A	N/A	19,259	2,698	112,686	57,220
2025-12-05	$12.77	$9.00	114.0%	31.0%	65.3%	35.3%	106.7%	3.3%	-8.7%	720.8K	-81.3M	-421.7K	0.19	46.34	N/A	N/A	4,344	827	123,606	58,786
2025-12-08	$12.86	$9.00	108.7%	29.7%	64.8%	32.5%	105.6%	-8.5%	-0.1%	763.7K	-83.3M	-423.0K	0.17	46.30	N/A	N/A	14,000	2,343	123,107	59,477
2025-12-09	$12.98	$9.00	108.0%	28.9%	60.9%	32.2%	103.0%	-4.7%	-0.4%	818.8K	-88.0M	-441.6K	0.27	52.32	N/A	N/A	5,206	1,399	129,072	61,297
2025-12-10	$13.00	$9.00	113.3%	30.3%	52.4%	35.0%	108.1%	5.8%	-0.5%	875.4K	-90.2M	-445.3K	0.54	52.32	N/A	N/A	18,239	9,847	131,623	62,286
2025-12-11	$17.46	$9.00	75.9%	22.0%	116.3%	15.3%	74.7%	6.2%	1.1%	1.2M	-199.2M	-454.5K	0.36	20.27	N/A	N/A	76,710	27,604	144,118	70,093
2025-12-12	$18.41	$9.00	80.8%	22.9%	111.6%	37.5%	79.9%	-3.0%	-2.0%	1.6M	-211.5M	-485.3K	0.60	38.11	N/A	N/A	34,725	20,922	148,805	75,174
2025-12-15	$17.94	$10.00	77.3%	22.0%	112.5%	33.7%	79.8%	-5.3%	5.7%	1.4M	-178.9M	-500.4K	0.38	38.97	N/A	N/A	12,173	4,609	143,559	70,862
2025-12-16	$17.88	$10.00	75.5%	21.5%	111.4%	31.7%	76.9%	-3.8%	1.9%	1.3M	-175.8M	-491.4K	0.41	43.58	N/A	N/A	6,626	2,740	146,295	72,752
2025-12-17	$16.55	$10.00	74.8%	21.4%	116.8%	30.9%	75.9%	-1.9%	7.0%	1.1M	-146.3M	-487.1K	0.66	48.61	N/A	N/A	4,924	3,269	146,578	74,104
2025-12-18	$17.52	$10.00	75.8%	21.6%	117.6%	32.0%	77.5%	-2.9%	4.6%	1.3M	-168.2M	-491.5K	0.50	50.06	N/A	N/A	5,813	2,918	147,074	74,545
2025-12-19	$19.34	$10.00	79.9%	23.1%	116.6%	36.6%	81.6%	-5.0%	-1.0%	1.1M	-215.3M	-500.8K	0.13	46.52	N/A	N/A	43,705	5,813	148,711	74,757
2025-12-22	$20.45	$10.00	83.2%	23.5%	116.8%	40.2%	83.8%	2.1%	-2.2%	1.7M	-226.7M	-513.5K	0.25	49.99	N/A	N/A	15,257	3,844	144,152	67,962
2025-12-23	$20.88	$10.00	77.5%	21.8%	116.8%	34.0%	79.3%	-1.7%	-1.7%	1.9M	-239.2M	-521.3K	0.35	49.32	N/A	N/A	10,790	3,825	149,732	70,176
2025-12-24	$20.32	$10.00	75.3%	20.4%	118.5%	31.4%	71.7%	-3.6%	-2.8%	1.9M	-227.6M	-530.6K	0.39	56.88	N/A	N/A	3,675	1,423	151,771	72,536
2025-12-26	$19.32	$10.00	73.9%	19.8%	121.5%	29.9%	70.7%	-13.9%	0.6%	2.0M	-201.4M	-519.4K	0.29	48.70	N/A	N/A	8,243	2,360	153,061	73,052
2025-12-29	$19.81	$10.00	69.9%	19.3%	121.2%	25.4%	75.7%	3.8%	16.1%	1.4M	-199.3M	-504.3K	0.83	62.31	N/A	N/A	11,045	9,210	139,306	64,858
2025-12-30	$19.73	$10.00	71.2%	18.8%	120.8%	26.9%	70.6%	-4.8%	-3.2%	1.5M	-198.1M	-515.1K	0.32	56.39	N/A	N/A	7,935	2,509	142,798	71,566
2025-12-31	$19.73	$10.00	69.8%	20.3%	121.1%	25.4%	70.4%	0.7%	1.7%	1.5M	-201.2M	-509.6K	1.70	51.16	N/A	N/A	4,404	7,484	144,375	72,055