SPCE Options History — May 2025

In May 2025, SPCE traded between $2.83 and $4.96. ATM implied volatility averaged 114.0%, placing in the 13.1% IV rank vs the trailing year. The 30-day expected move averaged 31.3%. IV traded below realized volatility by 10.2% (HV 20d: 124.1%). Max pain ranged from $3.00 to $5.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.49.

Notable Days

  • 2025-05-16: Highest Volume — 272,321 contracts
  • 2025-05-30: Largest IV spike — 56.3% change
  • 2025-05-16: Highest IV Rank — 24.9%
  • 2025-05-16: Largest Expected Move — 45.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.42$2.83$4.96$2.88$3.19
Max Pain$3.83$3.00$5.00$3.00$4.50
ATM IV114.0%69.1%162.0%98.9%136.2%
Expected Move31.3%24.8%45.5%32.7%26.1%
HV 20d124.1%74.2%171.9%95.0%169.4%
HV 60d108.6%89.4%128.8%89.5%128.1%
IV Rank13.1%2.2%24.9%9.4%18.6%
IV Percentile52.8%2.0%93.7%32.9%83.3%
Term Structure17.1%-69.8%206.3%0.2%206.3%
VWIV108.8%79.1%154.3%115.3%92.6%
Skew 25d-2.9%-37.2%39.6%-37.2%-2.4%
Skew 10d-34.1%-186.9%32.7%5.5%21.3%
Call IV 25d99.9%58.0%169.0%104.7%92.3%
Put IV 25d97.0%56.8%154.0%67.5%89.8%
Bid-Ask Spread %35.247.8958.0447.7458.04
Gamma HHI0.160.090.240.220.24
Net GEX486-96.7K105.2K27.7K-65.6K
Net DEX2.9M-20.5M9.7M4.7M9.7M
Net VEX-102.6K-143.1K-73.9K-75.9K-106.9K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.490.021.520.211.52
Total Volume29,953.7141,574272,3212,2608,747
Total OI198,400.381153,599263,438174,595231,770

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-05-01$2.88$3.0098.9%32.7%95.0%9.4%115.3%-37.2%0.2%27.7K4.7M-75.9K0.2147.741,87438693,07981,516
2025-05-02$2.91$3.0093.4%33.7%93.3%8.1%116.9%1.2%15.3%5.5K4.7M-77.0K0.4031.262,6581,06593,65081,690
2025-05-05$2.96$3.00106.8%27.8%93.3%11.4%97.5%-26.7%-53.4%5.3K4.4M-79.2K0.027.8921,09743972,14781,452
2025-05-06$2.84$3.0099.5%27.3%88.6%9.6%94.3%37.1%-13.3%18.5K5.0M-73.9K0.1827.833,33458882,52481,770
2025-05-07$2.83$3.00103.7%24.8%84.0%10.6%79.1%-0.7%-50.0%16.3K3.6M-78.5K0.0951.001,45012482,69182,048
2025-05-08$3.12$3.00100.5%26.9%77.3%9.8%91.4%-11.5%9.1%36.0K3.1M-80.8K0.2311.028,3291,88183,47482,070
2025-05-09$3.08$3.0098.0%26.9%74.3%9.2%91.1%9.5%-2.0%16.5K3.4M-81.2K0.499.961,81788487,79682,337
2025-05-12$3.16$3.0069.7%26.7%74.5%2.3%89.7%-21.4%42.6%24.4K3.1M-81.4K0.8536.855,5984,78275,50181,335
2025-05-13$3.12$3.0069.1%28.0%74.2%2.2%96.6%6.7%26.3%14.7K3.0M-85.3K0.3428.993,1041,04978,43485,780
2025-05-14$3.58$3.00101.4%27.1%85.1%10.0%94.0%-33.2%-4.5%26.9K35.5K-90.9K0.1929.2642,9958,03981,07786,703
2025-05-15$3.38$3.00152.8%27.9%88.2%22.7%99.1%-23.5%-22.6%72.2K523.6K-98.6K0.3730.6210,7213,97393,01492,726
2025-05-16$4.96$3.00162.0%45.5%157.6%24.9%154.3%-15.0%-6.3%105.2K-20.5M-128.2K0.4317.17190,92181,40098,27195,711
2025-05-19$4.36$5.00151.1%43.6%166.8%22.2%150.7%-7.3%18.9%41.0K-4.1M-142.6K0.7536.5541,27831,027112,188107,626
2025-05-20$3.99$5.00145.2%41.4%171.9%20.8%144.6%3.0%-69.8%18.1K1.0M-143.1K0.3833.8428,99711,139124,469112,982
2025-05-21$3.75$5.00124.8%35.8%169.3%15.8%125.0%-6.8%15.4%-75.5K6.4M-130.3K1.1839.8214,37916,900131,147117,311
2025-05-22$3.70$5.00114.3%33.8%169.4%13.2%122.6%-5.2%-53.1%-96.7K6.9M-125.7K0.4145.377,5013,041135,081126,408
2025-05-23$3.73$5.00137.2%32.8%168.9%18.8%123.3%-2.7%127.2%-27.5K5.9M-127.7K0.2348.6827,5966,222136,887126,551
2025-05-27$3.55$5.00136.7%30.3%168.4%18.7%106.5%39.6%146.5%-56.9K5.6M-122.5K0.5149.1010,4475,353106,855108,970
2025-05-28$3.42$5.00105.0%30.1%168.4%10.9%114.6%24.6%0.5%-69.8K7.4M-113.0K0.5448.664,8702,634112,936111,802
2025-05-29$3.33$5.0087.1%28.4%168.5%6.6%85.5%10.8%25.5%-26.1K7.7M-112.5K1.0350.485,1195,270114,150112,479
2025-05-30$3.19$4.50136.2%26.1%169.4%18.6%92.6%-2.4%206.3%-65.6K9.7M-106.9K1.5258.043,4765,271115,606116,164