SPCE Options History — July 2025

In July 2025, SPCE traded between $2.77 and $4.41. ATM implied volatility averaged 112.4%, placing in the 29.9% IV rank vs the trailing year. The 30-day expected move averaged 36.3%. IV traded above realized volatility by 51.5% (HV 20d: 60.9%). Max pain ranged from $3.00 to $4.00. Net GEX was positive for 16 of 22 trading days. Term structure was in contango for 9 of 22 days. Put/call ratio averaged 0.28.

Notable Days

2025-07-17: Highest Volume — 76,464 contracts
2025-07-02: Largest IV spike — 94.3% change
2025-07-02: Highest IV Rank — 56.0%
2025-07-24: Largest Expected Move — 49.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$3.48	$2.77	$4.41	$2.83	$3.74
Max Pain	$3.25	$3.00	$4.00	$4.00	$3.50
ATM IV	112.4%	77.0%	157.8%	81.2%	97.1%
Expected Move	36.3%	25.8%	49.3%	25.8%	43.0%
HV 20d	60.9%	39.7%	82.0%	57.5%	81.9%
HV 60d	111.2%	108.6%	114.8%	114.8%	112.5%
IV Rank	29.9%	9.6%	56.0%	12.0%	21.1%
IV Percentile	58.0%	5.6%	97.6%	7.1%	36.9%
Term Structure	-2.2%	-60.6%	53.0%	7.1%	-60.6%
VWIV	125.8%	87.9%	155.7%	87.9%	150.4%
Skew 25d	-10.6%	-155.3%	108.1%	66.6%	-51.4%
Skew 10d	8.3%	-75.3%	136.4%	19.5%	-17.6%
Call IV 25d	119.2%	75.6%	262.3%	82.7%	130.1%
Put IV 25d	108.6%	66.0%	204.8%	149.3%	78.6%
Bid-Ask Spread %	33.03	11.02	67.98	22.75	21.98
Gamma HHI	0.18	0.09	0.27	0.21	0.11
Net GEX	71.9K	-35.4K	263.4K	-27.2K	48.1K
Net DEX	234.1K	-14.5M	8.4M	8.3M	-1.9M
Net VEX	-114.0K	-150.4K	-88.5K	-92.2K	-127.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.28	0.06	0.82	0.14	0.06
Total Volume	17,432.455	2,193	76,464	7,115	9,597
Total OI	216,267.182	200,119	246,527	209,381	210,654

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 Vol	Put Vol	Call OI	Put OI
2025-07-01	$2.83	$4.00	81.2%	25.8%	57.5%	12.0%	87.9%	66.6%	7.1%	-27.2K	8.3M	-92.2K	0.14	22.75	6,244	871	110,141	99,240
2025-07-02	$2.81	$4.00	157.8%	26.5%	55.5%	56.0%	91.6%	-21.8%	41.2%	-26.3K	8.2M	-90.7K	0.09	32.70	3,599	331	113,207	99,775
2025-07-03	$2.80	$3.00	77.0%	31.0%	53.8%	9.6%	106.3%	-33.0%	39.9%	-19.8K	8.0M	-94.4K	0.34	51.05	1,634	559	113,871	99,686
2025-07-07	$2.77	$3.00	95.3%	31.6%	51.9%	20.1%	112.6%	108.1%	17.7%	-35.4K	8.4M	-88.5K	0.36	37.79	4,158	1,506	109,878	98,371
2025-07-08	$2.79	$3.00	82.7%	31.4%	51.5%	12.9%	108.4%	-155.3%	21.9%	-14.8K	8.0M	-90.4K	0.32	67.98	2,450	795	110,845	99,158
2025-07-09	$2.92	$3.00	77.2%	31.8%	43.8%	9.7%	113.5%	-48.3%	24.1%	-206	7.6M	-91.9K	0.13	56.35	6,105	810	111,836	99,488
2025-07-10	$3.05	$3.00	92.3%	31.2%	47.2%	18.3%	107.6%	-14.1%	53.0%	46.8K	6.2M	-97.8K	0.08	48.27	18,006	1,407	114,013	99,728
2025-07-11	$3.12	$3.00	90.5%	32.8%	42.9%	17.4%	113.3%	-30.5%	31.3%	21.4K	4.8M	-95.9K	0.11	42.74	12,434	1,382	119,049	100,653
2025-07-14	$3.21	$3.00	100.3%	30.4%	39.8%	23.0%	111.6%	-1.8%	-50.8%	42.3K	5.3M	-98.6K	0.49	48.32	4,092	2,011	115,924	100,281
2025-07-15	$3.16	$3.00	110.7%	32.0%	39.7%	28.9%	114.1%	7.4%	2.7%	36.2K	5.7M	-99.7K	0.46	40.16	3,549	1,623	117,768	101,281
2025-07-16	$3.27	$3.00	113.5%	32.5%	40.8%	30.5%	114.0%	-1.5%	-2.9%	29.9K	5.0M	-98.5K	0.16	48.19	4,529	738	118,769	102,266
2025-07-17	$3.75	$3.00	123.0%	36.0%	60.8%	36.0%	123.7%	5.5%	-19.4%	71.2K	-1.1M	-111.5K	0.16	14.64	66,096	10,368	120,657	102,461
2025-07-18	$3.95	$3.00	123.2%	35.7%	62.4%	36.1%	123.5%	-11.3%	-2.0%	135.8K	-1.8M	-125.5K	0.27	20.22	37,124	10,030	138,684	107,843
2025-07-21	$4.29	$3.00	131.4%	39.0%	66.8%	40.8%	138.3%	-78.2%	-10.0%	191.0K	-10.5M	-141.9K	0.12	11.02	49,681	5,844	117,567	82,552
2025-07-22	$4.05	$3.00	144.2%	41.3%	70.9%	48.1%	140.8%	-32.4%	-41.6%	216.0K	-8.6M	-139.2K	0.18	11.41	19,114	3,389	134,245	84,961
2025-07-23	$4.41	$3.50	145.7%	44.9%	74.9%	49.0%	141.9%	19.4%	-3.4%	260.4K	-14.5M	-150.4K	0.15	22.61	42,747	6,435	134,584	86,200
2025-07-24	$4.30	$3.50	138.5%	49.3%	75.5%	44.9%	152.7%	-58.6%	-3.1%	263.4K	-13.5M	-144.2K	0.12	22.01	10,978	1,351	140,283	89,633
2025-07-25	$4.13	$3.50	132.6%	44.1%	78.4%	41.5%	154.4%	24.0%	-30.3%	134.1K	-10.2M	-143.2K	0.51	25.33	8,420	4,252	139,274	90,164
2025-07-28	$3.91	$3.50	140.6%	44.6%	81.6%	46.1%	155.7%	21.5%	-22.9%	101.3K	-5.2M	-134.6K	0.65	25.10	5,198	3,396	119,728	87,690
2025-07-29	$3.75	$3.50	127.0%	41.5%	80.5%	38.3%	150.0%	59.7%	-2.6%	67.2K	-2.1M	-126.6K	0.82	27.99	3,834	3,125	116,085	89,949
2025-07-30	$3.63	$3.50	90.6%	43.3%	82.0%	17.4%	154.8%	-6.0%	-37.9%	40.8K	-809.9K	-125.1K	0.34	28.17	2,754	948	116,880	92,556
2025-07-31	$3.74	$3.50	97.1%	43.0%	81.9%	21.1%	150.4%	-51.4%	-60.6%	48.1K	-1.9M	-127.8K	0.06	21.98	9,061	536	117,891	92,763