SNAP Options History — October 2025

In October 2025, SNAP traded between $7.66 and $8.50. ATM implied volatility averaged 96.7%, placing in the 63.1% IV rank vs the trailing year. The 30-day expected move averaged 26.2%. IV traded above realized volatility by 42.5% (HV 20d: 54.2%). Max pain ranged from $8.00 to $8.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 4 of 23 days. Put/call ratio averaged 0.36.

Notable Days

2025-10-06: Highest Volume — 516,795 contracts
2025-10-06: Largest IV spike — 14.0% change
2025-10-08: Highest IV Rank — 77.6%
2025-10-30: Largest Expected Move — 28.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.97	$7.66	$8.50	$7.71	$7.79
Max Pain	$8.00	$8.00	$8.00	$8.00	$8.00
ATM IV	96.7%	89.3%	109.0%	90.7%	89.3%
Expected Move	26.2%	17.4%	28.9%	17.4%	28.9%
HV 20d	54.2%	34.2%	64.8%	54.7%	34.2%
HV 60d	58.8%	42.8%	61.8%	59.4%	42.8%
IV Rank	63.1%	54.3%	77.6%	56.1%	54.3%
IV Percentile	81.6%	67.5%	96.8%	73.8%	67.5%
Term Structure	-2.3%	-8.9%	39.1%	3.6%	-2.5%
VWIV	94.0%	69.0%	102.0%	73.4%	102.0%
Skew 25d	-11.3%	-18.6%	-5.6%	-18.6%	-5.6%
Skew 10d	-12.0%	-30.5%	34.3%	-30.5%	-10.7%
Call IV 25d	104.0%	93.2%	117.4%	104.0%	93.2%
Put IV 25d	92.7%	79.6%	101.5%	85.4%	87.6%
Bid-Ask Spread %	11.78	5.15	31.36	14.04	9.88
Gamma HHI	0.12	0.10	0.33	0.11	0.11
Net GEX	5.8M	2.1M	20.1M	4.2M	4.9M
Net DEX	-257.3M	-450.0M	-144.8M	-189.2M	-221.8M
Net VEX	-2.9M	-3.2M	-2.6M	-2.7M	-2.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.36	0.11	1.40	0.24	0.70
Total Volume	198,426.261	69,150	516,795	266,936	98,521
Total OI	2,353,464.87	2,131,762	2,613,307	2,290,030	2,260,432

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	$7.71	$8.00	90.7%	17.4%	54.7%	56.1%	73.4%	-18.6%	3.6%	4.2M	-189.2M	-2.7M	0.24	14.04	215,261	51,675	1,672,623	617,407
2025-10-02	$8.18	$8.00	93.9%	18.5%	57.6%	59.8%	69.0%	-15.4%	3.8%	11.1M	-343.5M	-3.0M	0.11	13.00	272,394	30,886	1,756,908	642,522
2025-10-03	$8.50	$8.00	89.3%	19.1%	58.2%	54.4%	70.9%	-14.2%	14.0%	20.1M	-450.0M	-3.2M	0.45	13.17	353,456	160,413	1,803,729	638,938
2025-10-06	$8.48	$8.00	101.8%	26.8%	58.2%	69.1%	94.6%	-14.7%	-5.0%	9.2M	-416.9M	-3.2M	0.29	10.78	401,446	115,349	1,700,251	614,875
2025-10-07	$8.21	$8.00	102.6%	26.9%	59.9%	70.1%	96.7%	-16.3%	-5.8%	6.9M	-325.5M	-3.1M	0.72	11.01	222,092	159,535	1,767,183	661,833
2025-10-08	$8.39	$8.00	109.0%	27.0%	58.7%	77.6%	98.6%	-15.5%	-7.1%	7.9M	-380.8M	-3.2M	0.22	11.41	164,770	35,992	1,814,067	732,966
2025-10-09	$8.43	$8.00	105.7%	26.9%	58.0%	73.7%	98.3%	-15.5%	-5.9%	9.1M	-390.6M	-3.2M	0.11	11.41	177,551	19,754	1,851,728	743,486
2025-10-10	$7.84	$8.00	106.8%	27.4%	64.5%	75.1%	98.7%	-15.9%	-8.7%	3.9M	-187.2M	-2.9M	0.22	15.20	296,067	64,927	1,867,047	746,260
2025-10-13	$8.04	$8.00	102.1%	27.3%	64.8%	69.5%	100.3%	-12.3%	-5.3%	4.8M	-270.1M	-3.0M	0.17	15.53	134,460	22,418	1,763,966	648,017
2025-10-14	$7.91	$8.00	100.6%	27.2%	63.7%	67.7%	97.0%	-10.9%	-4.8%	4.2M	-240.4M	-2.9M	0.25	16.45	96,488	24,413	1,808,888	658,692
2025-10-15	$7.91	$8.00	102.7%	27.4%	62.9%	70.2%	98.9%	-10.0%	-7.6%	3.7M	-232.7M	-2.9M	1.40	13.41	81,893	114,464	1,812,776	671,793
2025-10-16	$7.74	$8.00	102.4%	27.9%	59.1%	69.8%	98.6%	-10.4%	-6.6%	2.5M	-176.1M	-2.8M	0.16	15.39	125,763	20,204	1,832,716	687,805
2025-10-17	$7.71	$8.00	97.1%	26.7%	57.1%	63.5%	93.0%	-8.1%	-4.9%	2.6M	-144.8M	-2.7M	0.47	6.12	91,260	43,070	1,811,245	697,149
2025-10-20	$7.74	$8.00	94.0%	26.4%	52.6%	59.9%	94.3%	-9.3%	-7.5%	2.1M	-181.6M	-2.7M	0.36	8.74	86,042	31,141	1,527,485	604,277
2025-10-21	$7.82	$8.00	92.6%	26.3%	52.9%	58.3%	94.6%	-9.3%	-5.6%	2.6M	-199.9M	-2.7M	0.21	5.15	76,996	16,427	1,563,281	620,880
2025-10-22	$7.83	$8.00	94.2%	27.0%	52.2%	60.2%	94.5%	-8.3%	-7.7%	2.7M	-201.8M	-2.8M	0.30	7.65	59,813	18,132	1,594,669	625,534
2025-10-23	$7.89	$8.00	91.8%	26.6%	52.1%	57.3%	93.9%	-8.8%	-5.2%	3.6M	-222.0M	-2.8M	0.20	7.13	57,627	11,523	1,605,800	632,027
2025-10-24	$7.92	$8.00	91.2%	26.8%	52.1%	56.6%	93.4%	-10.5%	-6.0%	4.0M	-220.7M	-2.8M	0.61	11.21	141,634	85,924	1,625,296	629,506
2025-10-27	$7.96	$8.00	91.5%	28.2%	51.7%	57.0%	99.0%	-6.5%	-8.9%	6.7M	-260.4M	-2.8M	0.23	6.86	94,795	22,141	1,600,483	553,674
2025-10-28	$7.83	$8.00	91.4%	28.2%	42.6%	56.9%	98.7%	-9.4%	-8.7%	6.4M	-231.9M	-2.7M	0.28	6.30	79,625	21,948	1,636,726	557,219
2025-10-29	$7.74	$8.00	94.0%	28.3%	42.8%	59.9%	101.8%	-6.0%	39.1%	5.7M	-222.8M	-2.7M	0.26	31.36	65,480	17,317	1,652,554	562,252
2025-10-30	$7.66	$8.00	89.7%	28.9%	36.8%	54.9%	101.8%	-7.7%	-0.5%	5.1M	-206.1M	-2.6M	0.39	9.86	59,577	23,140	1,679,079	573,648
2025-10-31	$7.79	$8.00	89.3%	28.9%	34.2%	54.3%	102.0%	-5.6%	-2.5%	4.9M	-221.8M	-2.7M	0.70	9.88	57,818	40,703	1,682,321	578,111