SPCE Options History — September 2025

In September 2025, SPCE traded between $3.04 and $3.87. ATM implied volatility averaged 109.5%, placing in the 28.2% IV rank vs the trailing year. The 30-day expected move averaged 33.7%. IV traded above realized volatility by 58.0% (HV 20d: 51.5%). Max pain ranged from $3.00 to $3.50. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.39.

Notable Days

  • 2025-09-23: Highest Volume — 130,955 contracts
  • 2025-09-25: Largest IV spike — 36.3% change
  • 2025-09-29: Highest IV Rank — 41.9%
  • 2025-09-24: Largest Expected Move — 38.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.34$3.04$3.87$3.04$3.87
Max Pain$3.45$3.00$3.50$3.00$3.50
ATM IV109.5%86.0%133.3%104.6%104.4%
Expected Move33.7%29.7%38.9%31.5%37.1%
HV 20d51.5%41.4%68.6%64.0%68.6%
HV 60d67.4%65.3%73.7%69.0%73.7%
IV Rank28.2%14.8%41.9%25.4%25.3%
IV Percentile68.5%13.9%94.0%60.3%59.9%
Term Structure2.8%-59.1%68.6%-44.4%-39.8%
VWIV118.4%103.8%135.8%113.3%129.4%
Skew 25d-3.4%-27.6%64.5%-4.9%6.6%
Skew 10d-21.7%-75.6%57.7%-10.6%-29.6%
Call IV 25d107.6%55.0%136.7%71.2%127.9%
Put IV 25d104.2%66.3%134.6%66.3%134.6%
Bid-Ask Spread %28.897.2949.079.7036.59
Gamma HHI0.200.130.330.140.16
Net GEX51.7K-25.5K196.0K1.4K196.0K
Net DEX-1.6M-15.1M3.0M3.0M-15.1M
Net VEX-128.6K-172.5K-107.3K-111.6K-172.5K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.390.060.860.210.07
Total Volume25,682.2381,998130,9557,87250,209
Total OI262,394.19224,725310,117227,418302,800

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-09-02$3.04$3.00104.6%31.5%64.0%25.4%113.3%-4.9%-44.4%1.4K3.0M-111.6K0.219.706,5221,350126,587100,831
2025-09-03$3.08$3.0094.8%31.6%63.5%19.8%110.7%-12.9%14.9%12.3K2.8M-110.1K0.7135.952,0481,463129,833101,677
2025-09-04$3.08$3.50106.3%31.6%62.5%26.4%108.3%-1.2%-59.1%-13.1K2.7M-112.6K0.528.481,315683130,162101,938
2025-09-05$3.23$3.5093.9%31.1%58.0%19.3%113.8%64.5%57.8%28.9K2.4M-115.0K0.2813.284,9701,385130,539102,326
2025-09-08$3.25$3.50108.0%29.7%44.4%27.4%103.8%-27.6%-3.5%39.1K1.5M-114.6K0.4528.406,7073,019125,30399,422
2025-09-09$3.17$3.50105.8%30.3%41.9%26.1%111.6%-23.6%4.1%45.6K2.0M-110.8K0.5410.571,573851129,023101,164
2025-09-10$3.15$3.5086.0%30.5%42.1%14.8%106.1%-14.3%59.8%10.1K2.9M-107.3K0.8611.511,085930129,200101,564
2025-09-11$3.27$3.50111.9%31.6%43.8%29.6%114.2%-9.4%0.0%60.8K743.1K-116.2K0.157.3084,26712,887129,404102,196
2025-09-12$3.35$3.50101.1%34.0%44.3%23.4%119.4%16.8%1.5%32.9K438.9K-122.0K0.167.2950,5087,928165,367116,308
2025-09-15$3.27$3.50111.9%33.2%45.5%29.6%116.4%-6.5%2.7%126.4K-464.2K-122.4K0.6240.6613,8588,655150,620117,539
2025-09-16$3.29$3.50118.2%34.7%45.5%33.2%121.0%-3.7%68.6%126.9K-175.7K-121.7K0.4342.976,9422,952152,595121,110
2025-09-17$3.27$3.50121.7%34.9%45.2%35.3%120.8%-0.5%-18.5%88.5K-575.6K-127.6K0.1835.0011,8042,184153,284125,404
2025-09-18$3.29$3.50111.0%33.5%45.2%29.1%118.7%-3.7%-17.0%-22.8K1.2M-120.2K0.4534.3011,1265,035152,044125,560
2025-09-19$3.29$3.50116.4%33.4%44.9%32.2%109.3%-15.6%-1.1%-24.7K1.1M-118.5K0.8442.135,6634,751152,423128,765
2025-09-22$3.37$3.50113.3%33.6%41.4%30.4%118.7%7.4%6.8%-25.5K603.5K-121.3K0.3039.2719,1915,831128,029115,340
2025-09-23$3.74$3.50105.6%38.4%52.1%26.0%135.8%-6.3%-7.3%48.9K-6.6M-139.5K0.0637.03123,2457,710133,775119,219
2025-09-24$3.79$3.5095.3%38.9%47.2%20.1%130.3%-8.9%24.0%188.5K-13.3M-169.3K0.1335.5916,8552,146179,277122,494
2025-09-25$3.44$3.50130.0%36.9%60.0%40.0%133.9%-2.8%-1.1%63.9K-6.5M-157.2K0.3841.2315,8866,039181,169123,500
2025-09-26$3.38$3.50126.1%35.0%60.4%37.8%124.6%0.2%0.4%38.6K-4.7M-155.2K0.5249.077,8284,049184,482125,635
2025-09-29$3.50$3.50133.3%36.7%61.3%41.9%126.1%-25.1%9.9%62.6K-7.0M-155.2K0.2440.3014,3903,487173,722118,648
2025-09-30$3.87$3.50104.4%37.1%68.6%25.3%129.4%6.6%-39.8%196.0K-15.1M-172.5K0.0736.5946,8183,391181,675121,125