SPEU Options History — November 2025

In November 2025, SPEU traded between $48.55 and $51.55. ATM implied volatility averaged 14.6%, placing in the 4.7% IV rank vs the trailing year. The 30-day expected move averaged 4.0%. IV traded below realized volatility by 4.2% (HV 20d: 18.7%). Max pain ranged from $43.00 to $47.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.00.

Notable Days

2025-11-07: Highest Volume — 6 contracts
2025-11-28: Largest IV spike — 46.7% change
2025-11-11: Highest IV Rank — 11.3%
2025-11-20: Largest Expected Move — 5.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$50.08	$48.55	$51.55	$49.75	$51.04
Max Pain	$43.89	$43.00	$47.00	$46.00	$47.00
ATM IV	14.6%	10.1%	20.7%	13.2%	16.8%
Expected Move	4.0%	2.9%	5.6%	3.8%	4.8%
HV 20d	18.7%	15.9%	22.0%	18.8%	22.0%
HV 60d	16.7%	15.1%	18.8%	15.8%	18.4%
IV Rank	4.7%	0.0%	11.3%	3.3%	7.1%
IV Percentile	41.4%	0.4%	88.9%	24.2%	70.2%
Term Structure	-0.6%	-11.3%	5.9%	-1.7%	-5.2%
VWIV	21.4%	7.7%	36.5%	7.7%	16.8%
Skew 25d	1.6%	-2.7%	5.0%	-2.7%	3.3%
Skew 10d	2.8%	-3.9%	16.1%	-3.9%	5.0%
Call IV 25d	12.9%	11.0%	15.2%	15.2%	13.0%
Put IV 25d	14.5%	12.5%	18.3%	12.5%	16.3%
Bid-Ask Spread %	123.54	116.36	140.50	140.50	126.53
Gamma HHI	0.34	0.26	0.44	0.33	0.29
Net GEX	10.4K	7.1K	14.3K	9.6K	8.4K
Net DEX	-165.6K	-215.9K	-122.7K	-155.9K	-180.3K
Net VEX	-243	-347	-143	-238	-182
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	1.579	0	6	0	2
Total OI	54.474	51	60	51	52

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	Spread %	Call Wall	Put Wall	Call Vol	Call OI	Put OI
2025-11-03	$49.75	$46.00	13.2%	3.8%	18.8%	3.3%	0.0%	-2.7%	-1.7%	9.6K	-155.9K	-238	140.50	N/A	N/A	0	44	7
2025-11-04	$49.97	$46.00	14.0%	4.0%	18.8%	4.2%	0.0%	1.7%	2.7%	11.3K	-149.1K	-232	138.02	N/A	N/A	0	44	7
2025-11-05	$49.72	$46.00	10.1%	2.9%	18.5%	0.0%	7.7%	1.2%	5.9%	10.0K	-149.3K	-245	133.14	N/A	N/A	1	44	7
2025-11-06	$49.72	$43.00	13.6%	4.0%	18.4%	3.7%	0.0%	2.5%	0.6%	10.6K	-149.9K	-248	121.35	N/A	N/A	0	45	7
2025-11-07	$50.25	$43.00	14.3%	3.7%	16.4%	4.5%	0.0%	2.1%	1.6%	14.3K	-171.0K	-152	119.32	N/A	N/A	6	45	7
2025-11-10	$51.02	$43.00	16.8%	3.0%	15.9%	7.1%	0.0%	2.3%	2.3%	7.9K	-204.2K	-195	123.00	N/A	N/A	0	51	7
2025-11-11	$50.30	$43.00	20.7%	4.9%	16.7%	11.3%	24.6%	0.7%	-11.3%	9.1K	-171.6K	-347	121.05	N/A	N/A	1	51	7
2025-11-12	$51.55	$43.00	11.1%	3.2%	18.5%	1.1%	0.0%	1.0%	3.0%	9.1K	-215.9K	-211	121.61	N/A	N/A	0	51	7
2025-11-13	$50.61	$43.00	12.4%	3.6%	19.7%	2.4%	0.0%	0.1%	-1.7%	9.6K	-196.2K	-280	119.08	N/A	N/A	2	51	7
2025-11-14	$50.52	$43.00	11.7%	3.4%	19.4%	1.7%	0.0%	1.3%	1.4%	10.3K	-181.6K	-259	123.08	N/A	N/A	4	49	7
2025-11-17	$50.42	$43.00	15.2%	4.4%	19.1%	5.4%	0.0%	0.8%	-0.1%	12.6K	-183.6K	-327	117.28	N/A	N/A	4	53	7
2025-11-18	$50.16	$43.00	15.0%	4.3%	19.1%	5.2%	0.0%	5.0%	-1.2%	10.6K	-185.8K	-248	116.36	N/A	N/A	6	53	7
2025-11-19	$49.14	$43.00	15.5%	4.4%	19.5%	5.7%	0.0%	1.8%	0.2%	11.4K	-140.1K	-272	120.30	N/A	N/A	0	47	7
2025-11-20	$49.14	$43.00	19.4%	5.6%	17.7%	9.9%	0.0%	1.5%	-2.8%	11.3K	-122.7K	-282	116.36	N/A	N/A	0	47	7
2025-11-21	$48.55	$43.00	14.0%	4.0%	18.0%	4.1%	0.0%	1.3%	-0.6%	11.7K	-132.1K	-265	121.45	N/A	N/A	0	47	7
2025-11-24	$48.98	$43.00	15.3%	4.4%	18.2%	5.5%	0.0%	2.0%	-1.6%	11.5K	-130.3K	-247	124.63	N/A	N/A	0	45	7
2025-11-25	$49.48	$43.00	16.0%	4.6%	18.7%	6.3%	36.5%	0.5%	-6.3%	10.7K	-139.1K	-249	123.22	N/A	N/A	4	45	7
2025-11-26	$51.12	$47.00	11.4%	3.3%	22.0%	1.4%	0.0%	4.2%	4.0%	7.1K	-188.0K	-143	120.92	N/A	N/A	0	45	7
2025-11-28	$51.04	$47.00	16.8%	4.8%	22.0%	7.1%	16.8%	3.3%	-5.2%	8.4K	-180.3K	-182	126.53	N/A	N/A	2	45	7