SNAP Options History — August 2025

In August 2025, SNAP traded between $7.01 and $9.48. ATM implied volatility averaged 51.6%, placing in the 10.0% IV rank vs the trailing year. The 30-day expected move averaged 14.9%. IV traded below realized volatility by 21.9% (HV 20d: 73.5%). Max pain ranged from $8.00 to $9.00. Net GEX was positive for 18 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.41.

Notable Days

2025-08-06: Highest Volume — 759,928 contracts
2025-08-06: Largest IV drop — 45.3% change
2025-08-01: Highest IV Rank — 57.6%
2025-08-01: Largest Expected Move — 35.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.51	$7.01	$9.48	$9.00	$7.13
Max Pain	$8.38	$8.00	$9.00	$9.00	$8.00
ATM IV	51.6%	43.2%	92.0%	92.0%	44.3%
Expected Move	14.9%	12.3%	35.1%	35.1%	12.5%
HV 20d	73.5%	43.3%	83.3%	43.3%	75.5%
HV 60d	57.9%	48.6%	63.1%	48.6%	59.1%
IV Rank	10.0%	0.0%	57.6%	57.6%	1.3%
IV Percentile	14.1%	0.4%	75.4%	75.4%	2.4%
Term Structure	-0.8%	-7.4%	1.5%	-7.4%	0.1%
VWIV	53.1%	43.7%	122.5%	122.5%	45.2%
Skew 25d	-0.8%	-4.2%	2.9%	2.6%	-2.1%
Skew 10d	-5.8%	-26.7%	10.1%	-26.7%	-6.5%
Call IV 25d	52.8%	44.2%	93.1%	93.1%	46.4%
Put IV 25d	52.0%	42.6%	95.6%	95.6%	44.3%
Bid-Ask Spread %	3.34	2.05	4.73	3.29	2.38
Gamma HHI	0.13	0.10	0.23	0.10	0.11
Net GEX	795.1K	-4.7M	2.5M	662.7K	2.3M
Net DEX	7.4M	-146.0M	172.8M	-68.2M	-39.9M
Net VEX	-1.8M	-2.0M	-1.4M	-1.9M	-2.0M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.41	0.17	0.86	0.81	0.18
Total Volume	162,892.714	49,998	759,928	130,177	156,034
Total OI	1,745,616.286	1,482,738	1,985,771	1,510,140	1,920,733

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	$9.00	$9.00	92.0%	35.1%	43.3%	57.6%	122.5%	2.6%	-7.4%	662.7K	-68.2M	-1.9M	0.81	3.29	71,764	58,413	936,696	573,444
2025-08-04	$9.48	$9.00	87.8%	22.2%	47.3%	52.7%	76.6%	2.9%	-4.8%	2.5M	-146.0M	-2.0M	0.41	4.73	94,819	38,942	894,844	587,894
2025-08-05	$9.34	$9.00	90.0%	22.5%	47.6%	55.3%	78.3%	2.2%	-6.9%	2.5M	-138.4M	-2.0M	0.62	3.31	261,652	162,481	934,468	598,975
2025-08-06	$7.71	$9.00	49.3%	14.4%	83.3%	7.3%	50.9%	0.2%	0.6%	-4.7M	172.8M	-1.4M	0.52	4.29	499,102	260,826	1,075,679	724,223
2025-08-07	$7.51	$9.00	49.8%	14.4%	82.7%	7.9%	51.1%	-0.5%	0.4%	-1.5M	106.4M	-1.7M	0.33	3.84	123,233	41,009	1,273,013	684,016
2025-08-08	$7.42	$9.00	47.4%	13.6%	82.4%	5.1%	49.6%	-1.0%	0.6%	390.3K	102.3M	-1.8M	0.86	3.34	84,149	72,637	1,328,847	656,924
2025-08-11	$7.22	$9.00	46.8%	13.1%	79.8%	4.4%	48.3%	-2.4%	-1.7%	31.6K	59.5M	-1.7M	0.27	2.87	93,310	24,975	1,133,987	541,953
2025-08-12	$7.24	$9.00	44.2%	12.7%	80.0%	1.2%	46.2%	-1.9%	-0.1%	75.0K	58.5M	-1.7M	0.38	3.58	75,148	28,444	1,161,546	552,995
2025-08-13	$7.30	$8.00	44.5%	12.8%	79.7%	1.6%	45.7%	-0.9%	-0.1%	311.1K	43.7M	-1.8M	0.37	3.43	75,171	28,029	1,185,063	559,514
2025-08-14	$7.08	$8.00	44.5%	12.9%	77.2%	1.6%	45.8%	-2.4%	0.4%	-586.6K	67.2M	-1.7M	0.25	2.05	86,484	21,990	1,206,648	565,669
2025-08-15	$7.13	$8.00	43.2%	12.4%	77.5%	0.1%	45.5%	-2.7%	-0.2%	1.0M	27.4M	-1.7M	0.38	3.07	84,035	32,340	1,246,676	545,256
2025-08-18	$7.34	$8.00	43.7%	12.5%	79.2%	0.7%	44.5%	-0.5%	0.6%	1.5M	-14.8M	-1.8M	0.21	2.92	118,807	25,304	1,114,398	457,620
2025-08-19	$7.14	$8.00	44.6%	12.8%	75.3%	1.8%	45.7%	-1.1%	-0.6%	1.5M	-2.9M	-1.8M	0.41	3.45	61,329	25,067	1,179,759	472,428
2025-08-20	$7.19	$8.00	44.9%	12.9%	75.7%	1.9%	44.4%	1.7%	0.7%	1.6M	-5.5M	-1.9M	0.32	4.18	93,380	29,930	1,204,399	492,451
2025-08-21	$7.04	$8.00	46.8%	13.4%	75.4%	4.2%	47.7%	-2.9%	-0.1%	817.5K	4.6M	-1.9M	0.17	3.20	90,159	15,233	1,240,184	509,958
2025-08-22	$7.19	$8.00	43.6%	12.5%	76.3%	0.5%	44.9%	-2.1%	-0.0%	2.0M	-24.6M	-2.0M	0.31	2.79	88,894	27,672	1,293,231	516,797
2025-08-25	$7.03	$8.00	44.0%	12.5%	76.3%	1.0%	46.6%	-4.2%	0.9%	1.5M	-4.2M	-1.9M	0.41	3.47	76,093	31,531	1,258,785	498,280
2025-08-26	$7.03	$8.00	45.5%	12.9%	76.3%	2.7%	46.6%	-2.8%	0.6%	1.3M	-5.2M	-1.9M	0.34	3.46	67,012	22,470	1,288,387	518,787
2025-08-27	$7.01	$8.00	44.4%	12.3%	76.3%	1.4%	44.3%	0.1%	-0.3%	1.5M	-8.9M	-2.0M	0.31	3.53	38,197	11,801	1,322,717	527,074
2025-08-28	$7.13	$8.00	43.2%	12.3%	76.5%	0.0%	43.7%	0.2%	1.5%	2.0M	-27.7M	-2.0M	0.74	2.99	70,615	52,266	1,342,294	531,330
2025-08-29	$7.13	$8.00	44.3%	12.5%	75.5%	1.3%	45.2%	-2.1%	0.1%	2.3M	-39.9M	-2.0M	0.18	2.38	132,584	23,450	1,370,188	550,545