SMCI Options History — October 2025

In October 2025, SMCI traded between $47.49 and $58.61. ATM implied volatility averaged 82.1%, placing in the 18.7% IV rank vs the trailing year. The 30-day expected move averaged 23.4%. IV traded above realized volatility by 25.2% (HV 20d: 56.9%). Max pain ranged from $40.00 to $47.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 4 of 23 days. Put/call ratio averaged 0.33.

Notable Days

2025-10-01: Highest Volume — 730,408 contracts
2025-10-06: Largest IV spike — 15.0% change
2025-10-16: Highest IV Rank — 23.0%
2025-10-29: Largest Expected Move — 25.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$53.11	$47.49	$58.61	$51.56	$51.45
Max Pain	$41.35	$40.00	$47.00	$47.00	$45.00
ATM IV	82.1%	69.8%	89.2%	69.9%	81.8%
Expected Move	23.4%	17.8%	25.5%	19.3%	25.0%
HV 20d	56.9%	37.3%	74.6%	39.2%	69.6%
HV 60d	65.0%	52.9%	67.8%	64.1%	52.9%
IV Rank	18.7%	11.1%	23.0%	11.2%	18.5%
IV Percentile	39.9%	22.6%	49.6%	23.4%	38.9%
Term Structure	-1.5%	-5.6%	8.7%	1.0%	-1.5%
VWIV	84.3%	64.8%	92.0%	68.8%	91.4%
Skew 25d	-1.5%	-8.4%	2.5%	-1.4%	0.7%
Skew 10d	3.6%	-7.5%	9.9%	5.8%	4.7%
Call IV 25d	86.0%	73.9%	94.2%	73.9%	83.2%
Put IV 25d	84.5%	70.0%	93.4%	72.5%	83.9%
Bid-Ask Spread %	9.04	5.89	11.40	8.10	9.28
Gamma HHI	0.09	0.04	0.37	0.09	0.37
Net GEX	55.9M	6.2M	107.0M	69.2M	107.0M
Net DEX	-2.49B	-4.12B	-999.9M	-3.03B	-2.00B
Net VEX	-17.2M	-18.0M	-16.1M	-16.5M	-17.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.33	0.13	0.54	0.13	0.21
Total Volume	323,773.304	128,947	730,408	730,408	431,206
Total OI	2,392,962.87	2,179,575	2,571,442	2,349,772	2,484,636

Daily Data (23 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
2025-10-01	$51.56	$47.00	69.9%	19.3%	39.2%	11.2%	68.8%	-1.4%	1.0%	69.2M	-3.03B	-16.5M	0.13	8.10	645,490	84,918	1,339,451	1,010,321
2025-10-02	$52.62	$47.00	69.8%	18.5%	39.3%	11.1%	66.6%	-3.8%	8.7%	104.4M	-3.55B	-16.3M	0.27	6.09	374,462	99,996	1,462,794	1,038,409
2025-10-03	$51.79	$47.00	70.4%	17.8%	39.8%	11.5%	64.8%	-7.8%	7.8%	97.5M	-3.13B	-16.7M	0.46	5.89	239,812	110,508	1,503,772	1,067,670
2025-10-06	$54.75	$40.00	80.9%	23.1%	42.2%	17.9%	83.3%	-4.5%	-0.8%	60.6M	-2.98B	-17.3M	0.31	9.00	267,343	82,252	1,265,448	996,448
2025-10-07	$55.40	$40.00	82.7%	23.1%	37.3%	19.0%	83.0%	-1.9%	-2.5%	72.7M	-3.14B	-17.4M	0.23	9.27	322,393	75,695	1,314,263	1,021,537
2025-10-08	$58.36	$40.00	85.5%	24.2%	39.7%	20.7%	87.7%	-6.7%	-0.5%	94.1M	-4.12B	-17.9M	0.24	8.06	357,602	85,957	1,388,115	1,046,625
2025-10-09	$58.61	$40.00	84.0%	23.6%	39.7%	19.8%	85.0%	-8.4%	0.2%	103.7M	-4.08B	-18.0M	0.27	10.07	240,951	64,235	1,409,403	1,072,863
2025-10-10	$53.15	$40.00	84.9%	23.8%	56.1%	20.4%	87.6%	-2.0%	-2.5%	49.0M	-2.31B	-17.0M	0.47	9.64	269,762	126,659	1,461,866	1,088,638
2025-10-13	$54.87	$40.00	82.7%	23.1%	56.7%	19.0%	83.7%	-4.2%	-2.1%	38.5M	-2.51B	-17.3M	0.47	10.16	122,676	58,231	1,268,403	1,018,922
2025-10-14	$53.11	$40.00	85.3%	23.7%	57.9%	20.6%	85.3%	-1.6%	-2.0%	28.8M	-2.14B	-17.0M	0.31	10.62	136,106	42,313	1,309,064	1,040,186
2025-10-15	$54.04	$40.00	85.8%	23.7%	57.9%	20.9%	86.2%	0.4%	-3.6%	34.6M	-2.32B	-17.2M	0.23	9.69	186,353	43,457	1,302,749	1,056,046
2025-10-16	$53.82	$40.00	89.2%	24.7%	58.0%	23.0%	88.4%	0.9%	-3.4%	34.7M	-2.30B	-17.3M	0.28	10.63	227,164	63,498	1,349,800	1,070,720
2025-10-17	$52.77	$40.00	87.5%	24.2%	58.8%	21.9%	87.1%	1.2%	-5.6%	25.1M	-2.08B	-17.0M	0.54	7.38	183,457	98,639	1,377,885	1,095,506
2025-10-20	$55.09	$40.00	88.8%	25.1%	60.1%	22.8%	91.0%	-0.8%	-4.4%	45.6M	-2.47B	-17.1M	0.34	11.40	194,488	66,113	1,213,826	965,749
2025-10-21	$54.72	$40.00	86.9%	24.8%	60.3%	21.6%	89.4%	-0.1%	-5.4%	48.8M	-2.39B	-17.8M	0.43	9.55	89,893	39,054	1,295,107	995,023
2025-10-22	$52.47	$40.00	87.3%	25.0%	62.8%	21.8%	89.6%	2.5%	-2.6%	31.3M	-1.94B	-17.3M	0.31	8.63	164,740	51,343	1,316,673	1,009,659
2025-10-23	$47.49	$40.00	83.9%	24.2%	73.1%	19.7%	87.7%	2.4%	-3.3%	6.2M	-999.9M	-16.1M	0.43	6.84	377,681	163,904	1,315,682	1,028,537
2025-10-24	$48.63	$40.00	78.2%	22.7%	73.0%	16.3%	80.7%	2.2%	-2.6%	19.4M	-1.26B	-16.5M	0.40	8.33	211,879	83,795	1,351,711	1,094,176
2025-10-27	$50.98	$40.00	78.9%	23.9%	74.6%	16.7%	85.4%	1.4%	-4.0%	39.3M	-1.94B	-17.1M	0.31	9.39	209,759	65,163	1,281,874	1,005,052
2025-10-28	$52.39	$40.00	81.2%	24.5%	74.6%	18.1%	88.0%	-0.4%	-0.1%	58.0M	-2.33B	-17.7M	0.33	10.29	163,590	53,698	1,377,632	1,034,584
2025-10-29	$52.59	$40.00	83.2%	25.5%	69.2%	19.3%	92.0%	-1.7%	-3.1%	58.7M	-2.36B	-17.6M	0.16	10.90	293,495	48,016	1,383,834	1,052,832
2025-10-30	$50.95	$45.00	80.8%	24.5%	69.7%	17.9%	86.8%	-1.3%	-2.6%	58.9M	-1.81B	-17.2M	0.54	8.60	84,020	45,020	1,379,305	1,075,350
2025-10-31	$51.45	$45.00	81.8%	25.0%	69.6%	18.5%	91.4%	0.7%	-1.5%	107.0M	-2.00B	-17.2M	0.21	9.28	357,648	73,558	1,387,959	1,096,677