SNAP Options History — November 2025

In November 2025, SNAP traded between $7.29 and $9.02. ATM implied volatility averaged 59.2%, placing in the 18.9% IV rank vs the trailing year. The 30-day expected move averaged 17.9%. IV traded above realized volatility by 10.3% (HV 20d: 48.9%). Max pain ranged from $7.00 to $8.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 7 of 19 days. Put/call ratio averaged 0.40.

Notable Days

  • 2025-11-06: Highest Volume — 518,998 contracts
  • 2025-11-06: Largest IV drop — 31.4% change
  • 2025-11-05: Highest IV Rank — 53.3%
  • 2025-11-05: Largest Expected Move — 31.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$8.06$7.29$9.02$7.80$7.63
Max Pain$7.89$7.00$8.00$8.00$8.00
ATM IV59.2%44.9%88.4%88.3%44.9%
Expected Move17.9%12.9%31.5%30.3%12.9%
HV 20d48.9%34.3%55.7%34.3%55.1%
HV 60d48.5%42.7%50.7%42.7%50.3%
IV Rank18.9%2.0%53.3%53.2%2.0%
IV Percentile41.6%4.8%66.7%66.7%4.8%
Term Structure3.3%-13.5%88.6%-13.5%0.4%
VWIV64.4%46.3%109.9%106.7%46.3%
Skew 25d-3.9%-9.0%0.0%0.0%-3.8%
Skew 10d-11.1%-35.3%1.3%-29.1%-11.4%
Call IV 25d62.4%48.2%94.2%86.2%48.2%
Put IV 25d58.5%44.4%86.7%86.2%44.4%
Bid-Ask Spread %25.826.8253.608.9237.43
Gamma HHI0.150.100.190.110.13
Net GEX6.4M2.7M12.2M5.1M2.7M
Net DEX-217.1M-448.3M-76.6M-223.8M-88.6M
Net VEX-2.4M-2.9M-2.0M-2.7M-2.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.400.160.630.420.36
Total Volume133,248.36844,177518,99891,22150,829
Total OI2,086,600.6321,787,3332,332,3642,127,1911,870,596

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-11-03$7.80$8.0088.3%30.3%34.3%53.2%106.7%0.0%-13.5%5.1M-223.8M-2.7M0.428.9264,10927,1121,575,648551,543
2025-11-04$7.50$8.0087.0%30.0%35.1%51.7%108.9%-9.0%-1.5%4.3M-174.1M-2.5M0.626.8249,89730,9851,598,275566,885
2025-11-05$7.29$8.0088.4%31.5%34.6%53.3%109.9%-7.4%-5.6%3.5M-134.4M-2.4M0.507.83249,365124,1341,614,223590,524
2025-11-06$8.04$7.0060.6%17.2%50.8%20.6%62.6%-6.9%0.2%9.0M-263.9M-2.6M0.3736.04378,787140,2111,697,626634,738
2025-11-07$8.21$7.0057.4%16.5%44.1%16.7%60.0%-3.3%-0.5%7.1M-285.8M-2.6M0.4426.61121,17453,0691,691,060631,562
2025-11-10$8.64$8.0056.9%16.2%46.8%16.2%56.7%-1.3%-2.3%9.2M-345.2M-2.7M0.2211.29201,65044,5051,539,710525,406
2025-11-11$8.86$8.0056.8%16.1%46.7%16.1%58.0%-2.0%-0.7%10.7M-397.4M-2.8M0.1630.41118,92818,4891,588,490536,872
2025-11-12$9.02$8.0055.1%15.8%46.9%14.0%56.9%-2.3%-1.0%12.2M-448.3M-2.9M0.2523.3499,03124,7201,623,182533,647
2025-11-13$8.64$8.0054.8%16.1%49.1%13.7%57.2%-2.9%1.9%10.2M-333.0M-2.7M0.2721.7567,26917,9641,618,044542,224
2025-11-14$8.54$8.0054.4%15.9%49.4%13.2%56.8%-3.8%1.8%10.7M-305.8M-2.6M0.3025.7463,30819,1221,615,702545,620
2025-11-17$8.16$8.0055.5%15.8%52.6%14.5%57.3%-3.5%-0.5%6.7M-211.7M-2.4M0.4819.7969,38933,5571,551,342508,862
2025-11-18$8.29$8.0057.2%16.4%52.7%16.5%58.8%-2.5%-0.5%7.4M-242.0M-2.4M0.3916.6753,33620,6121,564,668520,227
2025-11-19$8.09$8.0056.0%16.0%53.6%15.0%59.0%-4.1%-1.5%6.3M-190.6M-2.3M0.6326.3027,10217,0751,573,215532,935
2025-11-20$7.78$8.0056.2%16.3%55.5%15.3%59.9%-6.3%-4.5%4.2M-116.8M-2.2M0.4021.9152,93621,2761,572,710543,197
2025-11-21$7.66$8.0054.2%15.7%55.7%13.0%58.9%-4.8%-0.5%3.4M-76.6M-2.1M0.4222.9752,26522,0211,573,632548,027
2025-11-24$7.67$8.0048.7%14.3%55.6%6.4%52.2%-1.8%88.6%3.3M-97.9M-2.0M0.5844.1552,11430,4591,378,771408,562
2025-11-25$7.66$8.0047.4%13.9%55.4%5.0%49.9%-3.6%0.3%3.1M-94.5M-2.0M0.3853.6043,85416,5311,405,015422,870
2025-11-26$7.64$8.0045.1%13.4%55.2%2.2%48.1%-4.1%1.9%3.1M-95.3M-2.0M0.4949.0436,49818,0361,420,614429,188
2025-11-28$7.63$8.0044.9%12.9%55.1%2.0%46.3%-3.8%0.4%2.7M-88.6M-2.0M0.3637.4337,25813,5711,428,875441,721