SNOW Options History — December 2025

In December 2025, SNOW traded between $214.97 and $266.33. ATM implied volatility averaged 37.9%, placing in the 17.5% IV rank vs the trailing year. The 30-day expected move averaged 11.4%. IV traded below realized volatility by 13.8% (HV 20d: 51.7%). Max pain ranged from $190.00 to $230.00. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 0.67.

Notable Days

2025-12-04: Highest Volume — 277,558 contracts
2025-12-04: Largest IV drop — 29.9% change
2025-12-02: Highest IV Rank — 63.6%
2025-12-02: Largest Expected Move — 20.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$227.47	$214.97	$266.33	$251.91	$219.56
Max Pain	$203.64	$190.00	$230.00	$230.00	$200.00
ATM IV	37.9%	33.2%	58.3%	56.7%	34.8%
Expected Move	11.4%	9.6%	20.1%	19.4%	9.7%
HV 20d	51.7%	35.4%	56.9%	36.3%	49.4%
HV 60d	42.1%	34.8%	44.3%	34.8%	41.4%
IV Rank	17.5%	6.9%	63.6%	59.9%	10.5%
IV Percentile	22.0%	7.9%	72.6%	65.9%	16.3%
Term Structure	-0.0%	-3.5%	1.5%	-2.9%	1.2%
VWIV	40.2%	34.0%	69.5%	67.1%	34.6%
Skew 25d	1.9%	-0.2%	3.7%	3.7%	0.6%
Skew 10d	3.2%	-1.5%	11.2%	11.2%	3.3%
Call IV 25d	37.1%	32.1%	56.2%	54.4%	34.3%
Put IV 25d	39.0%	34.0%	58.5%	58.1%	34.9%
Bid-Ask Spread %	57.21	35.58	64.92	42.85	58.71
Gamma HHI	0.08	0.04	0.30	0.07	0.07
Net GEX	29.2M	-57.0M	66.7M	43.2M	14.0M
Net DEX	-1.47B	-3.69B	-435.4M	-2.68B	-1.19B
Net VEX	-16.9M	-17.8M	-15.3M	-15.9M	-17.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.67	0.20	1.70	0.95	1.03
Total Volume	65,488.636	16,748	277,558	30,386	22,507
Total OI	570,465.591	448,288	656,228	448,288	530,221

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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-12-01	$251.91	$230.00	56.7%	19.4%	36.3%	59.9%	67.1%	3.7%	-2.9%	43.2M	-2.68B	-15.9M	0.95	42.85	N/A	N/A	15,555	14,831	247,096	201,192
2025-12-02	$259.37	$230.00	58.3%	20.1%	37.7%	63.6%	69.5%	2.4%	-3.5%	49.5M	-3.17B	-15.9M	0.38	40.14	N/A	N/A	49,906	19,098	252,612	211,702
2025-12-03	$266.33	$230.00	55.1%	19.6%	35.4%	56.3%	67.6%	3.0%	-2.4%	66.7M	-3.69B	-16.4M	0.59	35.58	N/A	N/A	90,973	53,762	276,764	222,783
2025-12-04	$235.43	$190.00	38.6%	11.3%	56.3%	19.1%	40.6%	-0.2%	0.2%	-5.8M	-1.31B	-15.3M	0.60	55.81	N/A	N/A	173,754	103,804	323,899	254,714
2025-12-05	$229.49	$200.00	36.4%	10.6%	56.7%	14.3%	38.0%	0.7%	0.9%	-57.0M	-974.4M	-16.0M	0.63	60.88	N/A	N/A	105,302	65,939	361,659	281,191
2025-12-08	$224.91	$200.00	36.5%	10.6%	56.9%	14.5%	37.5%	0.7%	0.4%	7.0M	-982.1M	-16.4M	0.46	59.96	N/A	N/A	33,119	15,207	316,972	259,702
2025-12-09	$221.24	$200.00	35.1%	10.2%	55.4%	11.4%	37.1%	1.2%	0.5%	-6.1M	-692.2M	-16.0M	0.43	61.54	N/A	N/A	41,653	17,945	322,618	264,051
2025-12-10	$217.06	$200.00	35.0%	10.2%	55.1%	11.1%	36.2%	0.3%	0.1%	-15.8M	-435.4M	-16.1M	0.45	64.56	N/A	N/A	65,273	29,551	335,559	271,619
2025-12-11	$220.17	$200.00	33.2%	9.6%	55.8%	6.9%	34.5%	1.5%	0.4%	39.6M	-938.6M	-16.8M	0.43	63.22	N/A	N/A	58,380	25,324	364,232	277,581
2025-12-12	$217.81	$200.00	33.3%	9.7%	54.4%	7.2%	34.7%	1.7%	1.0%	30.7M	-892.8M	-17.4M	0.60	64.92	N/A	N/A	29,348	17,731	380,937	275,291
2025-12-15	$214.97	$200.00	35.4%	10.2%	54.4%	12.0%	36.7%	1.6%	-1.5%	10.0M	-729.7M	-17.1M	0.62	59.13	N/A	N/A	21,272	13,242	337,925	267,939
2025-12-16	$220.58	$200.00	34.6%	9.9%	55.5%	10.1%	34.9%	2.7%	-0.1%	38.6M	-1.23B	-17.6M	0.61	64.70	N/A	N/A	20,591	12,602	345,406	271,559
2025-12-17	$218.11	$200.00	35.6%	10.2%	55.2%	12.5%	35.7%	2.1%	-1.0%	32.6M	-1.08B	-17.6M	0.83	63.38	N/A	N/A	16,814	13,950	351,106	274,182
2025-12-18	$221.86	$200.00	36.1%	10.4%	55.8%	13.6%	36.2%	2.6%	0.3%	55.5M	-1.45B	-17.8M	1.07	62.06	N/A	N/A	28,928	31,077	353,307	273,739
2025-12-19	$223.19	$200.00	34.1%	9.8%	54.9%	9.1%	34.3%	2.6%	0.1%	59.2M	-1.67B	-17.7M	0.20	64.76	N/A	N/A	41,035	8,113	362,200	273,363
2025-12-22	$225.86	$200.00	33.6%	9.7%	53.8%	7.8%	34.0%	2.5%	1.4%	54.4M	-1.70B	-17.7M	0.40	47.67	N/A	N/A	25,030	10,006	289,169	238,695
2025-12-23	$225.72	$200.00	33.5%	9.8%	52.9%	7.7%	35.3%	3.1%	1.5%	61.5M	-1.68B	-17.8M	0.67	57.59	N/A	N/A	21,588	14,367	294,855	242,183
2025-12-24	$222.30	$200.00	33.5%	9.6%	51.2%	7.5%	36.1%	2.9%	1.4%	51.4M	-1.43B	-17.6M	1.70	57.95	N/A	N/A	11,753	19,955	299,689	242,731
2025-12-26	$223.31	$200.00	34.1%	9.7%	51.3%	9.1%	34.0%	2.2%	0.7%	50.9M	-1.51B	-17.4M	0.45	56.64	N/A	N/A	28,205	12,600	301,407	244,167
2025-12-29	$222.95	$200.00	34.8%	9.9%	51.3%	10.5%	35.2%	2.7%	-0.3%	33.7M	-1.43B	-17.2M	0.62	58.83	N/A	N/A	14,754	9,158	287,445	238,853
2025-12-30	$222.12	$200.00	34.8%	9.8%	51.1%	10.5%	34.7%	1.2%	1.2%	29.4M	-1.38B	-17.3M	1.04	57.78	N/A	N/A	8,215	8,533	288,373	239,555
2025-12-31	$219.56	$200.00	34.8%	9.7%	49.4%	10.5%	34.6%	0.6%	1.2%	14.0M	-1.19B	-17.1M	1.03	58.71	N/A	N/A	11,073	11,434	289,069	241,152