SPCE Options History — November 2025

In November 2025, SPCE traded between $3.32 and $3.85. ATM implied volatility averaged 121.5%, placing in the 34.8% IV rank vs the trailing year. The 30-day expected move averaged 35.3%. IV traded above realized volatility by 51.3% (HV 20d: 70.2%). Max pain ranged from $4.00 to $5.00. Net GEX was positive for 2 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.84.

Notable Days

  • 2025-11-14: Highest Volume — 21,055 contracts
  • 2025-11-13: Largest IV spike — 41.5% change
  • 2025-11-06: Highest IV Rank — 47.9%
  • 2025-11-03: Largest Expected Move — 42.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$3.56$3.32$3.85$3.66$3.85
Max Pain$4.84$4.00$5.00$4.00$5.00
ATM IV121.5%95.1%143.7%132.9%112.8%
Expected Move35.3%28.7%42.6%42.6%30.8%
HV 20d70.2%64.6%77.0%69.5%70.6%
HV 60d67.3%64.1%70.4%64.2%70.3%
IV Rank34.8%19.3%47.9%41.7%29.6%
IV Percentile74.7%31.0%93.7%88.5%70.2%
Term Structure21.2%-24.6%270.1%42.3%-11.9%
VWIV133.6%107.2%157.9%146.7%111.9%
Skew 25d-0.7%-56.2%50.6%-2.2%-7.8%
Skew 10d-31.4%-298.4%44.1%-153.2%16.9%
Call IV 25d129.8%85.8%202.4%127.8%99.1%
Put IV 25d129.1%88.5%186.4%125.6%91.3%
Bid-Ask Spread %62.9841.0884.1772.5963.94
Gamma HHI0.170.140.230.140.20
Net GEX-46.7K-126.3K51.6K-19.7K51.6K
Net DEX-1.3M-5.5M4.6M-3.1M-5.5M
Net VEX-143.0K-155.7K-130.9K-155.7K-138.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.840.054.330.700.38
Total Volume10,890.2632,51621,05511,7274,698
Total OI315,363.579284,627339,487307,925296,993

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-11-03$3.66$4.00132.9%42.6%69.5%41.7%146.7%-2.2%42.3%-19.7K-3.1M-155.7K0.7072.596,9174,810146,643161,282
2025-11-04$3.51$4.00143.1%42.1%70.6%47.5%144.0%-56.2%-3.6%-59.7K-1.8M-151.0K0.2381.057,9881,827148,648165,466
2025-11-05$3.67$4.00133.3%41.2%71.9%41.9%150.2%-33.4%22.8%-17.3K-3.9M-151.0K0.0582.5116,927832151,933166,673
2025-11-06$3.62$5.00143.7%36.1%72.0%47.9%144.1%-12.5%-17.4%6.3K-3.4M-154.3K0.4044.124,4641,791156,707166,976
2025-11-07$3.55$5.00128.7%35.9%72.1%39.3%137.6%20.2%9.9%-102.1K-1.9M-149.2K0.7343.084,0362,963157,200166,509
2025-11-10$3.62$5.00119.6%36.6%68.5%34.0%145.9%46.3%-4.3%-15.4K-3.1M-153.7K0.8147.605,8144,696149,648160,956
2025-11-11$3.60$5.00106.9%34.5%66.2%26.8%141.5%50.6%-18.6%-19.5K-2.4M-143.9K0.9751.011,2771,239153,802164,222
2025-11-12$3.62$5.0098.8%37.5%65.2%21.5%140.2%-1.5%56.6%-28.5K-2.8M-150.4K4.3341.083,50315,175154,210164,619
2025-11-13$3.32$5.00139.9%38.7%69.3%45.3%157.9%10.0%-12.7%-126.3K1.6M-146.8K1.0642.165,8096,165155,031178,199
2025-11-14$3.67$5.00122.4%30.8%76.6%35.2%136.9%21.6%-24.6%-58.0K-3.3M-147.4K1.0356.6110,35510,700157,910181,577
2025-11-17$3.54$5.00115.8%33.4%77.0%31.3%127.2%-8.4%12.8%-79.7K-783.6K-134.6K0.2282.4716,3353,646146,468168,623
2025-11-18$3.55$5.00117.2%34.1%74.8%32.1%142.1%-11.0%14.4%-66.2K760.1K-144.1K0.1864.418,1811,477151,588170,585
2025-11-19$3.49$5.00100.1%28.7%72.6%22.2%129.2%-2.6%270.1%-88.7K-697.1K-130.9K0.4084.173,8441,521152,594170,708
2025-11-20$3.46$5.00125.1%34.5%66.4%36.7%135.0%10.9%39.6%-81.7K1.8M-133.5K0.5776.103,4371,954153,001171,309
2025-11-21$3.37$5.00128.2%35.5%66.3%38.5%115.5%-11.1%31.6%-29.9K4.6M-132.0K2.4773.454,69111,578153,161178,066
2025-11-24$3.33$5.00116.1%31.3%64.6%31.5%115.9%-18.9%8.7%-100.0K2.0M-131.2K0.4765.306,8603,210140,543144,084
2025-11-25$3.50$5.00127.9%34.3%67.5%38.3%107.2%-15.8%-18.1%-51.8K613.0K-131.4K0.3959.155,6932,220144,490146,164
2025-11-26$3.73$5.0095.1%32.0%72.0%19.3%109.3%7.9%4.7%-250-3.4M-137.2K0.6165.876,3923,890148,651146,669
2025-11-28$3.85$5.00112.8%30.8%70.6%29.6%111.9%-7.8%-11.9%51.6K-5.5M-138.0K0.3863.943,4051,293150,857146,136