SNAP Options History — July 2025

In July 2025, SNAP traded between $9.11 and $10.38. ATM implied volatility averaged 90.1%, placing in the 55.4% IV rank vs the trailing year. The 30-day expected move averaged 26.2%. IV traded above realized volatility by 40.2% (HV 20d: 49.9%). Max pain ranged from $8.00 to $9.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 1 of 22 days. Put/call ratio averaged 0.41.

Notable Days

2025-07-01: Highest Volume — 227,097 contracts
2025-07-03: Largest IV spike — 3.4% change
2025-07-07: Highest IV Rank — 58.6%
2025-07-31: Largest Expected Move — 33.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$9.57	$9.11	$10.38	$9.41	$9.45
Max Pain	$8.32	$8.00	$9.00	$8.00	$9.00
ATM IV	90.1%	86.4%	92.8%	86.4%	89.6%
Expected Move	26.2%	13.9%	33.5%	13.9%	33.5%
HV 20d	49.9%	39.6%	54.2%	54.2%	39.9%
HV 60d	59.4%	47.6%	78.3%	78.3%	47.6%
IV Rank	55.4%	51.0%	58.6%	51.0%	54.8%
IV Percentile	69.6%	66.3%	73.0%	66.3%	69.0%
Term Structure	-6.1%	-8.3%	1.0%	1.0%	-6.9%
VWIV	91.6%	49.7%	117.0%	49.7%	117.0%
Skew 25d	1.5%	-1.4%	11.7%	3.1%	0.6%
Skew 10d	16.4%	1.5%	43.9%	2.8%	6.9%
Call IV 25d	89.2%	77.9%	93.2%	85.9%	90.2%
Put IV 25d	90.7%	87.8%	94.4%	89.0%	90.8%
Bid-Ask Spread %	5.50	2.95	30.60	3.94	3.58
Gamma HHI	0.15	0.09	0.39	0.15	0.09
Net GEX	4.7M	1.9M	11.4M	5.0M	2.4M
Net DEX	-147.4M	-238.4M	-87.1M	-167.0M	-111.1M
Net VEX	-1.7M	-1.9M	-1.6M	-1.6M	-1.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.41	0.17	0.84	0.55	0.30
Total Volume	112,525.591	34,805	227,097	227,097	169,416
Total OI	1,250,262.091	1,073,745	1,432,611	1,073,745	1,432,611

Daily Data (22 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
2025-07-01	$9.41	$8.00	86.4%	13.9%	54.2%	51.0%	49.7%	3.1%	1.0%	5.0M	-167.0M	-1.6M	0.55	3.94	146,191	80,906	712,508	361,237
2025-07-02	$9.36	$8.00	87.8%	14.0%	54.2%	52.6%	50.7%	11.7%	-4.1%	4.5M	-156.6M	-1.7M	0.39	4.65	73,757	28,766	743,884	412,971
2025-07-03	$9.24	$8.00	90.8%	23.8%	54.2%	56.1%	83.3%	0.5%	-4.8%	4.0M	-141.1M	-1.7M	0.39	11.72	25,006	9,799	771,298	426,807
2025-07-07	$9.23	$8.00	92.8%	24.4%	51.7%	58.6%	85.6%	0.5%	-6.5%	4.0M	-124.5M	-1.6M	0.70	3.86	41,215	29,036	745,947	401,529
2025-07-08	$9.27	$8.00	89.9%	24.0%	51.6%	55.1%	84.5%	1.7%	-5.4%	4.2M	-126.6M	-1.7M	0.50	3.77	30,980	15,626	759,036	425,536
2025-07-09	$9.18	$8.00	90.3%	24.0%	51.1%	55.6%	83.9%	1.5%	-7.2%	3.6M	-113.0M	-1.6M	0.54	3.68	50,938	27,565	759,927	434,136
2025-07-10	$9.38	$8.00	89.9%	24.1%	51.4%	55.1%	83.4%	1.1%	-7.3%	4.9M	-136.6M	-1.7M	0.19	4.64	107,862	19,981	781,253	450,080
2025-07-11	$9.11	$8.00	88.8%	24.2%	52.8%	53.9%	84.7%	-1.4%	-7.0%	3.3M	-104.0M	-1.6M	0.32	4.17	75,799	24,297	807,115	458,777
2025-07-14	$9.54	$8.00	90.5%	25.3%	53.5%	55.8%	89.0%	2.0%	-5.4%	6.1M	-156.1M	-1.6M	0.65	4.77	73,719	47,991	782,960	444,310
2025-07-15	$9.50	$8.00	90.9%	25.8%	49.4%	56.3%	89.8%	1.4%	-6.3%	6.6M	-156.3M	-1.6M	0.28	4.15	57,686	16,173	802,594	425,693
2025-07-16	$9.64	$8.00	90.1%	25.8%	48.3%	55.4%	90.3%	1.0%	-5.8%	7.3M	-169.5M	-1.7M	0.32	4.37	68,360	21,914	802,555	430,455
2025-07-17	$10.04	$8.00	90.9%	26.4%	49.2%	56.3%	91.9%	0.9%	-7.2%	11.4M	-238.4M	-1.7M	0.45	3.54	100,654	44,820	809,637	436,157
2025-07-18	$10.02	$8.00	92.0%	27.0%	49.4%	57.6%	94.1%	1.3%	-7.3%	4.2M	-205.2M	-1.7M	0.47	3.36	91,496	43,179	818,267	453,160
2025-07-21	$9.86	$8.00	91.0%	28.0%	48.0%	56.4%	97.6%	-0.3%	-6.0%	3.7M	-144.9M	-1.7M	0.37	3.52	102,600	38,393	705,626	425,272
2025-07-22	$10.38	$8.00	92.0%	29.0%	49.6%	57.6%	101.1%	1.7%	-6.5%	6.4M	-225.2M	-1.9M	0.17	2.95	154,007	25,556	756,034	449,421
2025-07-23	$10.07	$9.00	90.8%	28.9%	50.6%	56.1%	101.0%	0.8%	-6.3%	6.5M	-189.2M	-1.8M	0.28	3.11	48,031	13,629	790,978	466,305
2025-07-24	$9.71	$9.00	90.1%	29.0%	51.2%	55.4%	101.4%	-0.1%	-6.9%	4.0M	-126.3M	-1.8M	0.84	4.19	106,600	89,340	805,653	473,176
2025-07-25	$9.75	$9.00	89.3%	29.5%	51.3%	54.5%	102.8%	0.6%	-8.3%	3.5M	-135.5M	-1.8M	0.49	3.86	51,305	24,928	867,159	546,734
2025-07-28	$9.64	$9.00	89.5%	31.1%	47.4%	54.6%	108.4%	1.8%	-5.6%	3.1M	-119.9M	-1.8M	0.37	4.12	86,979	32,523	806,009	515,987
2025-07-29	$9.36	$9.00	89.5%	32.1%	48.9%	54.7%	111.1%	0.2%	-7.8%	2.4M	-108.9M	-1.9M	0.17	4.41	101,389	16,879	862,391	539,644
2025-07-30	$9.32	$9.00	90.0%	32.6%	39.6%	55.3%	114.1%	2.2%	-6.9%	1.9M	-87.1M	-1.8M	0.25	30.60	48,089	12,183	855,677	549,260
2025-07-31	$9.45	$9.00	89.6%	33.5%	39.9%	54.8%	117.0%	0.6%	-6.9%	2.4M	-111.1M	-1.9M	0.30	3.58	130,719	38,697	873,518	559,093