SANM Options History — November 2025

In November 2025, SANM traded between $140.97 and $178.07. ATM implied volatility averaged 59.4%, placing in the 62.1% IV rank vs the trailing year. The 30-day expected move averaged 16.7%. IV traded below realized volatility by 19.9% (HV 20d: 79.2%). Max pain ranged from $125.00 to $155.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 0 of 19 days. Put/call ratio averaged 0.53.

Notable Days

2025-11-05: Highest Volume — 3,242 contracts
2025-11-04: Largest IV drop — 38.0% change
2025-11-03: Highest IV Rank — 100.0%
2025-11-03: Largest Expected Move — 24.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$160.59	$140.97	$178.07	$140.97	$155.09
Max Pain	$150.00	$125.00	$155.00	$125.00	$155.00
ATM IV	59.4%	52.1%	84.1%	84.1%	56.9%
Expected Move	16.7%	14.9%	24.1%	24.1%	16.3%
HV 20d	79.2%	64.6%	90.1%	64.6%	90.1%
HV 60d	74.5%	63.6%	78.6%	63.6%	78.6%
IV Rank	62.1%	51.0%	100.0%	100.0%	58.3%
IV Percentile	89.2%	84.1%	100.0%	100.0%	84.9%
Term Structure	-3.4%	-22.2%	-0.3%	-22.2%	-0.3%
VWIV	58.3%	51.6%	85.4%	85.4%	57.1%
Skew 25d	2.9%	-3.1%	7.7%	4.6%	4.2%
Skew 10d	8.6%	-11.6%	31.4%	7.1%	17.9%
Call IV 25d	58.3%	53.2%	85.5%	85.5%	58.8%
Put IV 25d	61.2%	53.1%	90.1%	90.1%	62.9%
Bid-Ask Spread %	67.39	58.59	82.75	66.88	82.75
Gamma HHI	0.28	0.13	0.52	0.27	0.13
Net GEX	2.7M	462.1K	5.9M	846.2K	705.3K
Net DEX	-70.5M	-120.0M	-18.0M	-30.7M	-21.7M
Net VEX	-124.0K	-153.2K	-88.8K	-146.8K	-93.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.53	0.00	4.88	0.14	0.24
Total Volume	905.211	42	3,242	1,815	42
Total OI	14,019.947	4,634	20,058	11,957	4,929

Daily Data (19 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
2025-11-03	$140.97	$125.00	84.1%	24.1%	64.6%	100.0%	85.4%	4.6%	-22.2%	846.2K	-30.7M	-146.8K	0.14	66.88	1,589	226	7,205	4,752
2025-11-04	$165.74	$130.00	52.1%	14.9%	73.6%	51.0%	52.5%	2.7%	-1.4%	2.6M	-92.2M	-126.7K	0.35	71.71	1,376	477	8,221	4,932
2025-11-05	$178.07	$130.00	56.0%	16.1%	73.6%	56.9%	56.4%	-3.1%	-1.7%	2.0M	-115.1M	-119.0K	0.07	65.97	3,035	207	8,264	5,180
2025-11-06	$174.63	$150.00	61.1%	15.6%	72.5%	64.8%	54.8%	0.1%	-1.9%	2.8M	-116.7M	-153.2K	0.85	58.59	234	200	9,673	5,335
2025-11-07	$172.09	$155.00	58.0%	15.0%	68.5%	60.0%	52.8%	0.4%	-1.1%	3.0M	-112.2M	-150.3K	0.88	61.47	134	118	9,703	5,474
2025-11-10	$174.76	$155.00	58.4%	15.3%	68.5%	60.5%	53.5%	-2.0%	-2.5%	3.0M	-120.0M	-134.2K	0.19	63.90	345	67	9,701	5,506
2025-11-11	$170.60	$155.00	57.8%	15.1%	69.9%	59.7%	52.9%	-0.5%	-1.2%	3.2M	-109.0M	-132.4K	0.06	62.32	2,970	169	9,686	5,546
2025-11-12	$170.76	$150.00	52.2%	15.0%	69.1%	51.1%	51.6%	0.9%	-1.8%	3.7M	-115.9M	-140.0K	0.10	66.87	473	47	10,871	5,698
2025-11-13	$153.11	$150.00	57.6%	16.5%	81.4%	59.4%	57.5%	0.3%	-2.7%	3.6M	-56.4M	-143.4K	0.20	66.78	635	127	11,263	5,703
2025-11-14	$162.19	$155.00	56.7%	16.3%	81.8%	58.0%	55.8%	2.4%	-1.2%	4.4M	-91.0M	-151.6K	0.20	63.33	116	23	11,572	5,748
2025-11-17	$158.56	$155.00	58.0%	16.6%	82.5%	59.9%	58.1%	5.2%	-1.3%	4.7M	-78.7M	-134.8K	0.00	63.86	3,064	8	11,610	5,745
2025-11-18	$157.95	$155.00	58.6%	16.8%	81.7%	60.9%	57.9%	6.0%	-2.1%	5.9M	-81.9M	-136.8K	0.19	63.35	58	11	14,205	5,749
2025-11-19	$158.51	$155.00	58.8%	16.9%	81.1%	61.2%	60.6%	4.8%	-0.8%	5.9M	-91.4M	-129.4K	0.93	68.14	30	28	14,227	5,746
2025-11-20	$143.76	$155.00	65.4%	18.8%	88.7%	71.4%	66.7%	5.7%	-5.1%	2.7M	-24.1M	-94.2K	4.88	65.24	57	278	14,229	5,751
2025-11-21	$148.02	$155.00	61.2%	17.5%	89.1%	64.9%	60.2%	3.4%	-5.5%	462.1K	-21.6M	-88.8K	0.26	69.51	230	60	14,228	5,830
2025-11-24	$153.06	$155.00	61.2%	17.5%	89.6%	64.9%	60.2%	7.0%	-5.3%	552.1K	-18.0M	-91.1K	0.34	78.48	50	17	3,647	987
2025-11-25	$154.80	$155.00	57.8%	16.6%	89.6%	59.7%	56.5%	7.7%	-2.9%	596.7K	-19.8M	-93.3K	0.20	70.05	145	29	3,665	998
2025-11-26	$158.58	$155.00	56.5%	16.2%	89.7%	57.6%	56.3%	5.6%	-3.0%	699.0K	-23.9M	-96.6K	0.02	71.19	514	10	3,781	1,019
2025-11-28	$155.09	$155.00	56.9%	16.3%	90.1%	58.3%	57.1%	4.2%	-0.3%	705.3K	-21.7M	-93.8K	0.24	82.75	34	8	3,904	1,025