SMCI Options History — June 2025

In June 2025, SMCI traded between $40.97 and $49.14. ATM implied volatility averaged 67.9%, placing in the 4.2% IV rank vs the trailing year. The 30-day expected move averaged 19.5%. IV traded above realized volatility by 2.7% (HV 20d: 65.2%). Max pain ranged from $36.00 to $42.50. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 20 of 20 days. Put/call ratio averaged 0.34.

Notable Days

2025-06-26: Highest Volume — 806,458 contracts
2025-06-06: Largest IV drop — 6.5% change
2025-06-05: Highest IV Rank — 6.9%
2025-06-05: Largest Expected Move — 20.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$43.82	$40.97	$49.14	$40.97	$49.11
Max Pain	$41.13	$36.00	$42.50	$36.00	$42.50
ATM IV	67.9%	65.4%	71.6%	68.8%	70.3%
Expected Move	19.5%	18.6%	20.9%	19.5%	19.7%
HV 20d	65.2%	45.4%	86.5%	84.2%	62.9%
HV 60d	90.7%	87.6%	95.4%	95.2%	89.8%
IV Rank	4.2%	1.9%	6.9%	5.5%	4.8%
IV Percentile	8.5%	2.4%	15.5%	11.9%	14.3%
Term Structure	2.0%	0.3%	7.5%	0.7%	7.5%
VWIV	69.5%	65.9%	73.7%	70.8%	70.2%
Skew 25d	-1.8%	-3.9%	0.4%	-2.0%	-2.9%
Skew 10d	-3.4%	-6.3%	-0.0%	-5.7%	-1.9%
Call IV 25d	70.7%	67.0%	75.4%	70.8%	74.9%
Put IV 25d	69.0%	65.3%	72.8%	68.8%	72.0%
Bid-Ask Spread %	3.45	2.33	5.28	2.99	5.03
Gamma HHI	0.09	0.05	0.16	0.07	0.08
Net GEX	47.5M	16.5M	77.0M	28.5M	54.4M
Net DEX	-1.75B	-2.84B	-886.5M	-1.23B	-2.34B
Net VEX	-14.7M	-16.1M	-13.5M	-14.1M	-16.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.34	0.21	0.52	0.32	0.36
Total Volume	328,553.7	143,092	806,458	193,551	333,417
Total OI	2,503,465.65	1,965,091	2,765,578	2,519,099	2,146,837

Daily Data (20 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
2025-06-02	$40.97	$36.00	68.8%	19.5%	84.2%	5.5%	70.8%	-2.0%	0.7%	28.5M	-1.23B	-14.1M	0.32	2.99	146,373	47,178	1,504,926	1,014,173
2025-06-03	$42.92	$36.00	69.8%	19.9%	82.9%	6.1%	71.0%	-3.4%	1.5%	42.7M	-1.75B	-14.7M	0.27	3.12	274,862	74,201	1,572,402	1,031,478
2025-06-04	$43.86	$36.00	70.0%	19.6%	82.8%	6.2%	70.1%	-2.8%	0.7%	51.3M	-2.02B	-15.0M	0.36	5.28	187,305	66,690	1,609,877	1,048,259
2025-06-05	$41.33	$42.00	71.1%	20.9%	86.5%	6.9%	73.7%	-0.3%	0.3%	35.1M	-1.30B	-14.3M	0.41	2.55	211,125	86,270	1,641,272	1,058,930
2025-06-06	$41.53	$42.00	66.4%	19.7%	85.5%	3.9%	70.1%	-2.1%	0.5%	24.6M	-1.29B	-14.2M	0.38	2.33	207,308	79,011	1,656,811	1,085,629
2025-06-09	$42.82	$42.00	66.2%	19.6%	85.4%	3.8%	70.0%	-2.2%	2.3%	37.0M	-1.57B	-14.4M	0.28	3.06	134,780	38,145	1,547,111	1,004,867
2025-06-10	$42.92	$42.00	66.1%	19.4%	84.4%	3.7%	68.7%	-1.9%	1.6%	42.3M	-1.62B	-14.5M	0.25	2.51	157,840	40,170	1,596,779	1,017,900
2025-06-11	$43.18	$42.00	65.4%	19.5%	69.7%	3.3%	68.8%	-3.1%	2.5%	51.9M	-1.71B	-14.5M	0.43	2.91	170,180	72,885	1,646,384	1,037,676
2025-06-12	$43.31	$42.00	65.4%	19.2%	45.4%	3.3%	68.6%	-1.4%	1.8%	58.4M	-1.70B	-14.3M	0.50	2.48	111,308	55,507	1,663,859	1,044,966
2025-06-13	$41.54	$42.00	66.0%	19.4%	47.4%	3.6%	68.6%	-0.0%	2.4%	16.7M	-1.16B	-13.8M	0.31	3.45	308,244	96,191	1,672,779	1,058,740
2025-06-16	$43.72	$42.00	66.7%	19.2%	49.1%	4.1%	67.9%	-1.8%	1.6%	53.1M	-1.82B	-14.3M	0.22	2.62	288,621	62,161	1,562,644	1,000,095
2025-06-17	$43.28	$42.00	67.0%	19.3%	48.9%	2.7%	68.4%	-0.8%	1.5%	55.1M	-1.81B	-14.4M	0.32	3.04	108,289	34,803	1,635,549	1,008,857
2025-06-18	$44.34	$42.00	67.2%	19.3%	46.8%	2.8%	68.3%	-1.5%	2.2%	76.1M	-2.21B	-14.6M	0.21	4.08	417,621	89,580	1,659,489	1,006,890
2025-06-20	$44.41	$42.00	66.9%	19.0%	45.6%	2.6%	67.5%	-0.3%	1.8%	72.8M	-2.13B	-14.6M	0.35	3.14	243,381	85,376	1,737,161	1,028,417
2025-06-23	$41.11	$42.00	69.0%	19.6%	53.6%	3.9%	69.6%	0.4%	1.7%	16.5M	-886.5M	-13.5M	0.52	3.14	207,168	107,592	1,199,102	765,989
2025-06-24	$42.72	$42.00	65.9%	18.6%	54.6%	1.9%	65.9%	-1.1%	4.4%	23.6M	-1.15B	-14.2M	0.46	3.72	138,430	63,327	1,252,645	824,179
2025-06-25	$46.44	$42.00	69.9%	19.9%	60.9%	4.5%	70.4%	-3.9%	1.6%	56.7M	-2.07B	-15.4M	0.33	3.81	396,474	131,474	1,294,304	849,170
2025-06-26	$49.14	$42.00	71.6%	20.2%	63.5%	5.7%	72.9%	-3.2%	1.5%	76.6M	-2.84B	-16.1M	0.21	4.48	664,323	142,135	1,351,722	877,303
2025-06-27	$47.75	$42.00	68.2%	18.9%	63.9%	3.5%	68.7%	-1.4%	1.2%	77.0M	-2.37B	-16.0M	0.38	5.22	357,235	134,094	1,435,062	919,080
2025-06-30	$49.11	$42.50	70.3%	19.7%	62.9%	4.8%	70.2%	-2.9%	7.5%	54.4M	-2.34B	-16.1M	0.36	5.03	245,251	88,166	1,299,278	847,559