SPCE Options History — October 2025

In October 2025, SPCE traded between $3.69 and $4.61. ATM implied volatility averaged 134.2%, placing in the 42.4% IV rank vs the trailing year. The 30-day expected move averaged 40.2%. IV traded above realized volatility by 58.8% (HV 20d: 75.4%). Max pain ranged from $3.50 to $4.00. Net GEX was positive for 22 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.57.

Notable Days

2025-10-10: Highest Volume — 55,806 contracts
2025-10-30: Largest IV spike — 92.3% change
2025-10-24: Highest IV Rank — 52.2%
2025-10-24: Largest Expected Move — 46.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$4.09	$3.69	$4.61	$3.83	$3.92
Max Pain	$3.91	$3.50	$4.00	$3.50	$4.00
ATM IV	134.2%	78.3%	151.2%	131.3%	131.9%
Expected Move	40.2%	33.4%	46.1%	37.2%	40.1%
HV 20d	75.4%	67.6%	84.6%	69.1%	67.6%
HV 60d	70.0%	65.9%	75.2%	73.7%	66.2%
IV Rank	42.4%	10.3%	52.2%	40.7%	41.1%
IV Percentile	88.3%	6.7%	97.6%	92.9%	87.7%
Term Structure	10.1%	-48.9%	230.4%	-15.8%	32.6%
VWIV	140.8%	126.6%	153.5%	130.0%	146.5%
Skew 25d	-13.4%	-115.7%	43.8%	1.5%	-67.3%
Skew 10d	-86.4%	-274.4%	26.3%	-74.2%	-197.7%
Call IV 25d	142.4%	96.4%	247.7%	129.4%	198.4%
Put IV 25d	129.1%	78.4%	183.2%	130.9%	131.1%
Bid-Ask Spread %	42.81	8.32	77.24	36.93	73.39
Gamma HHI	0.16	0.13	0.24	0.21	0.14
Net GEX	136.5K	-19.2K	396.3K	323.7K	9.5K
Net DEX	-13.8M	-25.2M	-3.9M	-16.4M	-7.2M
Net VEX	-177.2K	-190.6K	-156.0K	-173.3K	-173.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.57	0.06	2.65	0.27	0.09
Total Volume	23,630.087	4,615	55,806	55,176	21,755
Total OI	327,858.348	294,706	352,016	316,154	325,231

Daily Data (23 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
2025-10-01	$3.83	$3.50	131.3%	37.2%	69.1%	40.7%	130.0%	1.5%	-15.8%	323.7K	-16.4M	-173.3K	0.27	36.93	43,375	11,801	193,838	122,316
2025-10-02	$4.04	$3.50	128.9%	37.2%	70.6%	39.4%	130.0%	17.7%	-5.8%	396.3K	-19.9M	-178.3K	2.65	30.33	12,997	34,440	194,817	125,858
2025-10-03	$4.29	$3.50	112.1%	39.7%	71.5%	29.7%	135.9%	2.1%	9.4%	205.0K	-25.2M	-186.7K	0.27	22.54	40,525	10,841	193,571	158,197
2025-10-06	$4.08	$3.50	136.6%	41.2%	75.0%	43.8%	142.8%	-29.9%	5.5%	210.9K	-17.7M	-184.3K	0.79	8.32	8,636	6,863	183,402	151,757
2025-10-07	$4.00	$4.00	142.6%	39.7%	74.7%	47.2%	139.4%	20.1%	7.6%	204.0K	-14.8M	-177.1K	0.55	23.95	16,507	9,152	182,208	155,960
2025-10-08	$4.11	$4.00	140.3%	40.3%	74.6%	45.9%	141.5%	-33.4%	2.8%	192.6K	-16.3M	-181.7K	0.11	15.56	26,178	2,960	182,769	161,902
2025-10-09	$4.08	$4.00	139.8%	40.7%	74.4%	45.6%	139.8%	43.8%	5.1%	247.2K	-16.7M	-182.7K	0.41	16.79	5,772	2,363	189,265	162,751
2025-10-10	$4.08	$4.00	147.5%	43.1%	74.3%	50.0%	143.5%	-115.7%	-7.3%	131.3K	-15.6M	-186.4K	0.21	27.75	45,982	9,824	186,898	163,683
2025-10-13	$4.33	$4.00	136.4%	40.0%	75.2%	43.7%	142.6%	-18.6%	-12.1%	188.4K	-17.5M	-175.6K	0.79	47.92	7,745	6,108	171,753	161,135
2025-10-14	$4.50	$4.00	148.0%	43.4%	75.6%	50.3%	149.1%	11.3%	-0.5%	237.6K	-22.0M	-184.7K	0.54	44.54	15,060	8,090	175,785	163,492
2025-10-15	$4.61	$4.00	143.3%	44.5%	75.2%	47.7%	145.8%	4.2%	23.8%	259.6K	-22.8M	-190.6K	0.22	32.89	13,858	3,002	176,471	169,581
2025-10-16	$4.39	$4.00	148.6%	44.3%	78.7%	50.7%	141.7%	10.3%	-6.2%	223.5K	-18.9M	-189.0K	0.31	33.65	13,234	4,158	175,341	170,888
2025-10-17	$4.08	$4.00	135.7%	39.2%	84.6%	43.3%	138.2%	-59.4%	10.3%	60.0K	-11.6M	-174.6K	0.80	22.19	13,639	10,939	173,550	172,023
2025-10-20	$4.13	$4.00	131.6%	37.5%	84.4%	40.9%	132.3%	-11.8%	-18.4%	58.0K	-11.1M	-175.0K	0.56	24.10	5,172	2,915	146,011	148,695
2025-10-21	$3.90	$4.00	132.1%	37.9%	79.9%	41.2%	128.8%	-1.8%	-13.7%	37.0K	-8.4M	-169.1K	0.67	51.74	4,880	3,291	148,448	150,564
2025-10-22	$3.69	$4.00	116.6%	33.4%	82.3%	32.3%	126.6%	-12.7%	10.0%	-19.2K	-3.9M	-156.0K	1.25	55.09	7,214	9,006	149,323	152,822
2025-10-23	$3.98	$4.00	144.4%	42.3%	78.4%	48.3%	152.0%	-31.8%	-48.9%	8.9K	-8.3M	-167.1K	0.06	63.98	20,278	1,248	150,988	160,128
2025-10-24	$4.03	$4.00	151.2%	46.1%	77.9%	52.2%	149.0%	-6.8%	9.2%	29.9K	-8.1M	-171.4K	0.29	65.69	31,674	9,262	155,439	160,348
2025-10-27	$4.16	$4.00	129.6%	41.0%	77.8%	39.8%	142.7%	24.7%	16.6%	45.9K	-10.2M	-177.0K	0.24	68.54	19,510	4,635	147,123	161,110
2025-10-28	$4.03	$4.00	128.9%	40.3%	70.9%	39.4%	146.4%	-27.3%	22.5%	43.4K	-8.9M	-180.9K	0.41	74.08	5,140	2,084	154,935	164,381
2025-10-29	$4.04	$4.00	78.3%	39.8%	70.8%	10.3%	140.7%	-40.0%	230.4%	42.5K	-11.2M	-176.3K	1.17	77.24	3,116	3,648	155,658	165,465
2025-10-30	$3.83	$4.00	150.7%	36.5%	70.8%	51.9%	153.5%	13.3%	-23.8%	4.2K	-5.5M	-165.3K	0.33	67.32	3,466	1,149	156,317	168,545
2025-10-31	$3.92	$4.00	131.9%	40.1%	67.6%	41.1%	146.5%	-67.3%	32.6%	9.5K	-7.2M	-173.4K	0.09	73.39	20,048	1,707	156,364	168,867