SMCI Options History — August 2025

In August 2025, SMCI traded between $41.71 and $58.42. ATM implied volatility averaged 61.3%, placing in the 2.5% IV rank vs the trailing year. The 30-day expected move averaged 17.6%. IV traded below realized volatility by 24.0% (HV 20d: 85.3%). Max pain ranged from $43.00 to $45.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 0.47.

Notable Days

2025-08-06: Highest Volume — 960,541 contracts
2025-08-06: Largest IV drop — 23.1% change
2025-08-01: Highest IV Rank — 15.5%
2025-08-01: Largest Expected Move — 28.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$46.51	$41.71	$58.42	$56.29	$41.71
Max Pain	$44.45	$43.00	$45.00	$45.00	$44.50
ATM IV	61.3%	52.6%	86.5%	86.5%	53.0%
Expected Move	17.6%	15.0%	28.8%	28.8%	15.0%
HV 20d	85.3%	57.3%	96.0%	57.8%	82.5%
HV 60d	70.4%	67.8%	80.6%	67.8%	69.3%
IV Rank	2.5%	0.0%	15.5%	15.5%	0.2%
IV Percentile	6.3%	0.0%	42.9%	42.9%	0.4%
Term Structure	-0.6%	-4.6%	1.0%	-4.5%	1.0%
VWIV	64.3%	53.7%	105.0%	105.0%	54.9%
Skew 25d	0.5%	-2.7%	3.1%	-0.9%	3.1%
Skew 10d	-0.2%	-6.1%	4.5%	-6.1%	2.0%
Call IV 25d	63.3%	53.6%	94.7%	94.7%	53.6%
Put IV 25d	63.8%	54.3%	93.8%	93.8%	56.7%
Bid-Ask Spread %	7.55	3.36	12.21	12.21	8.90
Gamma HHI	0.08	0.05	0.14	0.08	0.07
Net GEX	31.4M	-9.4M	68.3M	42.7M	-1.8M
Net DEX	-1.07B	-3.46B	-80.5M	-2.96B	-80.5M
Net VEX	-15.2M	-18.0M	-13.6M	-18.0M	-13.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.47	0.28	0.91	0.61	0.32
Total Volume	309,018.286	75,061	960,541	418,204	646,750
Total OI	2,483,877.857	2,177,392	2,776,773	2,655,443	2,424,747

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 Vol	Put Vol	Call OI	Put OI
2025-08-01	$56.29	$45.00	86.5%	28.8%	57.8%	15.5%	105.0%	-0.9%	-4.5%	42.7M	-2.96B	-18.0M	0.61	12.21	259,879	158,325	1,567,870	1,087,573
2025-08-04	$58.42	$43.00	83.0%	22.3%	57.3%	13.2%	79.4%	-2.7%	-2.3%	54.5M	-3.46B	-18.0M	0.56	9.26	132,670	73,943	1,398,694	1,027,322
2025-08-05	$57.49	$44.00	84.9%	22.5%	57.4%	14.4%	80.2%	-0.0%	-4.6%	53.7M	-3.26B	-18.0M	0.91	9.81	182,209	165,468	1,450,586	1,059,553
2025-08-06	$46.89	$44.00	65.2%	18.5%	94.3%	1.5%	67.5%	-0.2%	0.1%	931.6K	-644.4M	-14.9M	0.47	10.18	653,559	306,982	1,505,011	1,126,383
2025-08-07	$46.89	$44.00	63.5%	18.2%	94.3%	0.4%	65.3%	1.2%	-0.1%	17.6M	-925.6M	-15.4M	0.37	9.01	288,938	105,721	1,576,490	1,179,449
2025-08-08	$44.63	$44.00	62.6%	17.8%	95.6%	0.0%	65.3%	1.7%	-0.2%	-9.4M	-421.6M	-14.8M	0.63	8.42	235,497	148,409	1,610,350	1,166,423
2025-08-11	$45.62	$44.00	62.0%	17.6%	96.0%	0.0%	65.3%	-0.4%	-0.4%	24.5M	-869.3M	-15.0M	0.30	11.90	215,842	64,516	1,438,836	1,088,117
2025-08-12	$46.44	$44.00	58.6%	16.8%	91.8%	0.0%	60.3%	0.3%	0.3%	36.4M	-1.14B	-15.2M	0.67	10.84	124,714	83,580	1,485,144	1,119,658
2025-08-13	$46.05	$44.00	58.1%	16.7%	91.8%	0.0%	60.4%	1.5%	0.2%	35.0M	-1.04B	-15.1M	0.55	11.59	88,694	49,136	1,503,690	1,144,562
2025-08-14	$45.55	$45.00	56.5%	16.2%	91.8%	0.0%	59.3%	0.4%	-0.0%	32.3M	-884.2M	-14.9M	0.30	9.76	350,974	104,175	1,521,973	1,152,678
2025-08-15	$45.47	$45.00	56.4%	16.2%	91.7%	0.0%	58.0%	0.6%	-0.0%	52.1M	-1.07B	-15.0M	0.48	9.44	209,025	101,036	1,583,616	1,180,057
2025-08-18	$45.81	$45.00	54.0%	15.5%	91.7%	0.0%	56.7%	-1.4%	-0.2%	47.9M	-916.4M	-14.9M	0.43	3.96	113,651	48,315	1,203,219	974,173
2025-08-19	$43.39	$45.00	56.5%	16.2%	92.8%	1.6%	58.5%	-0.1%	-0.4%	15.4M	-358.7M	-14.3M	0.38	4.07	133,079	50,422	1,246,892	995,266
2025-08-20	$42.69	$45.00	55.6%	15.9%	91.7%	1.0%	58.4%	2.6%	-0.5%	3.0M	-179.8M	-14.1M	0.28	4.25	283,049	78,663	1,284,103	1,013,201
2025-08-21	$41.99	$45.00	57.9%	16.6%	91.2%	2.4%	68.7%	2.8%	-0.2%	2.9M	-143.0M	-14.1M	0.47	4.40	162,231	77,023	1,296,735	1,030,376
2025-08-22	$43.91	$45.00	55.0%	15.8%	92.1%	0.6%	61.5%	1.0%	-0.0%	30.5M	-698.5M	-14.8M	0.43	4.60	165,622	70,641	1,347,212	1,059,799
2025-08-25	$44.30	$44.50	54.5%	15.6%	83.0%	0.3%	56.2%	0.5%	-0.2%	46.8M	-815.1M	-14.8M	0.33	3.36	119,817	39,269	1,253,670	993,497
2025-08-26	$44.25	$44.50	55.1%	15.8%	83.1%	0.7%	57.8%	0.7%	-0.3%	50.8M	-818.5M	-14.8M	0.40	3.84	53,767	21,294	1,307,634	1,008,500
2025-08-27	$44.78	$44.50	55.6%	16.1%	82.0%	1.0%	58.0%	0.2%	-0.5%	55.4M	-981.9M	-14.8M	0.44	3.96	110,570	49,013	1,323,126	1,017,104
2025-08-28	$44.14	$44.50	52.6%	15.0%	81.8%	0.0%	53.7%	0.3%	0.4%	68.3M	-744.8M	-14.5M	0.48	4.74	110,362	52,554	1,366,057	1,042,089
2025-08-29	$41.71	$44.50	53.0%	15.0%	82.5%	0.2%	54.9%	3.1%	1.0%	-1.8M	-80.5M	-13.6M	0.32	8.90	489,300	157,450	1,376,345	1,048,402