SANM Options History — December 2025

In December 2025, SANM traded between $143.26 and $176.79. ATM implied volatility averaged 53.8%, placing in the 53.5% IV rank vs the trailing year. The 30-day expected move averaged 15.2%. IV traded below realized volatility by 9.3% (HV 20d: 63.1%). Max pain ranged from $120.00 to $155.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 0.26.

Notable Days

  • 2025-12-16: Highest Volume — 811 contracts
  • 2025-12-10: Largest IV drop — 9.4% change
  • 2025-12-08: Highest IV Rank — 62.3%
  • 2025-12-01: Largest Expected Move — 17.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$155.80$143.26$176.79$151.69$150.76
Max Pain$133.18$120.00$155.00$155.00$135.00
ATM IV53.8%47.4%59.5%59.4%47.4%
Expected Move15.2%13.6%17.0%17.0%13.6%
HV 20d63.1%52.5%90.7%90.7%52.5%
HV 60d79.9%69.8%82.4%78.7%69.8%
IV Rank53.5%43.7%62.3%62.1%43.7%
IV Percentile78.5%68.3%89.7%89.7%68.3%
Term Structure5.5%-4.3%16.9%-4.3%14.2%
VWIV53.6%47.1%63.3%63.3%47.1%
Skew 25d2.7%-1.2%5.5%5.3%-1.2%
Skew 10d7.9%-3.4%22.3%7.6%1.9%
Call IV 25d53.0%49.8%58.8%58.6%51.0%
Put IV 25d55.6%49.8%63.9%63.9%49.8%
Bid-Ask Spread %74.8869.8784.5770.8781.94
Gamma HHI0.130.110.190.120.12
Net GEX873.5K385.2K1.5M641.6K927.3K
Net DEX-24.7M-49.9M-11.9M-18.3M-22.2M
Net VEX-88.3K-95.8K-81.3K-87.9K-83.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.260.011.630.230.01
Total Volume308.2734081149445
Total OI5,546.5914,9307,0774,9515,448

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-12-01$151.69$155.0059.4%17.0%90.7%62.1%63.3%5.3%-4.3%641.6K-18.3M-87.9K0.2370.874093,9201,031
2025-12-02$154.13$155.0058.3%16.7%90.4%60.5%61.0%2.3%-3.6%693.0K-20.2M-88.7K0.1869.873463,9261,035
2025-12-03$157.31$155.0057.7%16.5%69.2%59.5%57.4%5.5%-2.7%758.4K-22.8M-90.0K0.2070.7059123,9341,036
2025-12-04$159.32$120.0056.9%15.6%63.7%58.4%54.9%3.7%1.3%833.6K-25.5M-89.7K0.1571.53173263,9501,044
2025-12-05$158.31$120.0056.5%15.0%63.5%57.6%52.2%3.0%5.1%874.7K-24.0M-88.7K0.3770.69137514,0781,048
2025-12-08$161.55$120.0059.5%15.8%64.0%62.3%54.1%1.8%1.6%979.4K-27.8M-89.3K0.1574.4286134,1841,073
2025-12-09$163.84$120.0059.0%15.3%63.9%61.5%55.1%4.3%3.5%1.1M-30.6M-89.2K0.4571.2084384,2051,077
2025-12-10$169.17$125.0053.4%15.3%64.6%53.0%54.8%4.0%4.0%1.2M-36.4M-90.8K0.1372.13682864,2321,095
2025-12-11$176.79$125.0052.5%15.1%66.5%51.5%53.9%5.0%4.6%1.5M-49.9M-95.8K0.1672.616681044,5961,144
2025-12-12$160.56$125.0052.9%15.2%63.8%52.2%53.6%0.1%5.1%1.1M-28.8M-90.2K0.1170.98612654,6801,158
2025-12-15$157.09$130.0053.9%15.5%60.8%53.7%53.5%0.9%4.8%1.0M-25.4M-89.0K0.0774.94146105,0201,182
2025-12-16$148.30$130.0054.3%15.6%63.6%54.3%54.3%5.1%2.6%619.7K-15.4M-81.3K0.5172.815382735,0731,189
2025-12-17$143.26$135.0055.9%16.0%64.6%56.7%56.2%2.9%0.2%385.2K-11.9M-82.4K0.5671.50165935,4801,369
2025-12-18$145.04$135.0052.6%15.1%64.8%51.7%52.7%2.3%6.9%425.2K-13.7M-81.9K0.2575.67344855,4811,372
2025-12-19$151.24$135.0052.1%14.9%56.6%51.0%52.2%4.9%6.5%849.3K-21.6M-88.0K0.0675.23662375,7161,361
2025-12-22$151.91$135.0050.9%14.6%55.7%49.1%49.4%2.0%9.3%777.1K-23.4M-89.7K0.1876.2373134,100830
2025-12-23$153.61$135.0049.6%14.2%54.6%47.1%50.5%0.1%12.3%798.8K-24.7M-90.4K0.0876.06155134,105835
2025-12-24$153.95$135.0052.3%15.0%54.4%51.2%51.8%3.3%10.0%831.1K-25.2M-92.3K0.0578.03260124,213845
2025-12-26$154.47$135.0048.6%13.9%53.7%45.6%49.3%0.8%13.9%947.4K-26.3M-92.2K0.0682.469464,437843
2025-12-29$152.76$135.0051.2%14.7%53.2%49.5%51.9%2.0%7.9%942.0K-24.9M-86.7K1.6382.95801304,458846
2025-12-30$152.45$135.0048.5%13.9%52.7%45.4%49.6%0.5%16.9%932.1K-24.2M-85.4K0.0984.57150134,421955
2025-12-31$150.76$135.0047.4%13.6%52.5%43.7%47.1%-1.2%14.2%927.3K-22.2M-83.5K0.0181.9444054,486962