TSLA Options History — September 2025

In September 2025, TSLA traded between $329.46 and $444.00. ATM implied volatility averaged 54.5%, placing in the 17.2% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded above realized volatility by 14.8% (HV 20d: 39.6%). Max pain ranged from $300.00 to $370.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.64.

Notable Days

2025-09-12: Highest Volume — 6,326,890 contracts
2025-09-12: Largest IV spike — 12.0% change
2025-09-30: Highest IV Rank — 30.1%
2025-09-15: Largest Expected Move — 16.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$395.85	$329.46	$444.00	$329.46	$444.00
Max Pain	$339.29	$300.00	$370.00	$305.00	$370.00
ATM IV	54.5%	45.5%	62.9%	46.8%	62.9%
Expected Move	14.8%	12.7%	16.5%	12.8%	15.9%
HV 20d	39.6%	33.1%	44.9%	35.2%	39.7%
HV 60d	44.3%	40.4%	47.2%	46.0%	40.4%
IV Rank	17.2%	3.7%	30.1%	5.6%	30.1%
IV Percentile	31.2%	5.6%	62.3%	10.7%	62.3%
Term Structure	1.3%	-0.4%	6.4%	-0.2%	-0.0%
VWIV	53.7%	46.0%	59.4%	46.1%	57.3%
Skew 25d	-2.6%	-4.8%	2.1%	2.1%	-3.9%
Skew 10d	-2.2%	-6.0%	6.3%	6.3%	-4.8%
Call IV 25d	57.3%	46.9%	66.5%	47.4%	66.4%
Put IV 25d	54.7%	46.5%	62.6%	49.5%	62.6%
Bid-Ask Spread %	2.70	1.78	4.67	2.45	2.17
Gamma HHI	0.05	0.02	0.15	0.02	0.03
Net GEX	1.07B	262.8M	2.07B	262.8M	1.09B
Net DEX	-64.37B	-88.71B	-27.27B	-27.27B	-79.60B
Net VEX	-371.9M	-415.8M	-314.2M	-314.2M	-415.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.64	0.53	0.83	0.83	0.53
Total Volume	2,450,446.762	1,094,059	6,326,890	1,144,238	1,528,779
Total OI	7,957,652.524	7,324,939	9,116,105	7,434,772	7,689,680

Daily Data (21 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 Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-09-02	$329.46	$305.00	46.8%	12.8%	35.2%	5.6%	46.1%	2.1%	-0.2%	262.8M	-27.27B	-314.2M	0.83	2.45	N/A	N/A	624,542	519,696	3,962,472	3,472,300
2025-09-03	$336.90	$300.00	47.2%	12.7%	35.8%	6.2%	46.0%	1.1%	-0.2%	558.4M	-33.37B	-320.8M	0.63	3.03	N/A	N/A	1,236,061	782,575	4,042,779	3,551,751
2025-09-04	$337.38	$325.00	46.1%	13.3%	34.5%	4.6%	48.4%	-0.1%	-0.0%	640.2M	-33.66B	-322.0M	0.70	4.67	N/A	N/A	877,340	618,385	4,166,511	3,624,945
2025-09-05	$348.52	$325.00	46.9%	13.5%	36.0%	5.8%	49.2%	-1.5%	-0.1%	1.69B	-44.66B	-333.5M	0.64	4.22	N/A	N/A	2,371,419	1,513,738	4,240,863	3,684,448
2025-09-08	$346.77	$325.00	47.1%	13.6%	35.5%	6.1%	49.1%	-1.1%	0.2%	608.3M	-38.90B	-330.0M	0.70	3.21	N/A	N/A	869,439	608,898	4,012,277	3,496,103
2025-09-09	$346.74	$330.00	45.5%	13.1%	33.1%	3.7%	47.5%	-0.5%	0.3%	619.4M	-38.50B	-327.5M	0.72	2.61	N/A	N/A	636,011	458,048	4,152,827	3,599,417
2025-09-10	$349.25	$330.00	46.2%	13.3%	33.2%	4.7%	48.0%	-1.0%	0.2%	729.4M	-40.69B	-330.8M	0.63	2.69	N/A	N/A	1,115,407	698,324	4,228,381	3,657,403
2025-09-11	$366.28	$330.00	49.0%	14.1%	37.0%	8.9%	51.0%	-2.7%	0.1%	1.51B	-55.99B	-345.9M	0.62	2.58	N/A	N/A	1,994,315	1,244,962	4,296,680	3,712,156
2025-09-12	$393.47	$330.00	54.9%	15.7%	43.2%	17.8%	56.2%	-4.5%	-0.3%	1.24B	-79.81B	-366.7M	0.56	3.47	N/A	N/A	4,054,293	2,272,597	4,450,483	3,934,023
2025-09-15	$409.11	$335.00	57.8%	16.5%	43.7%	22.2%	59.4%	-4.8%	4.6%	1.15B	-79.11B	-378.9M	0.56	2.88	N/A	N/A	2,146,070	1,206,713	4,217,774	3,770,292
2025-09-16	$422.68	$340.00	56.6%	16.2%	44.4%	20.4%	58.3%	-4.0%	5.2%	1.23B	-86.45B	-392.3M	0.55	1.78	N/A	N/A	1,260,236	694,505	4,458,114	3,996,187
2025-09-17	$426.76	$340.00	56.4%	16.2%	43.3%	20.2%	58.5%	-4.0%	5.4%	1.29B	-88.71B	-395.4M	0.63	2.46	N/A	N/A	1,471,991	930,340	4,506,710	4,088,123
2025-09-18	$419.31	$345.00	56.3%	15.8%	43.1%	20.0%	57.4%	-3.2%	6.4%	1.10B	-82.31B	-394.9M	0.61	2.67	N/A	N/A	1,560,466	952,606	4,603,190	4,189,708
2025-09-19	$425.50	$350.00	55.6%	15.3%	42.4%	19.0%	55.8%	-3.7%	6.4%	1.52B	-87.07B	-400.9M	0.62	2.41	N/A	N/A	2,000,938	1,234,972	4,741,495	4,374,610
2025-09-22	$434.02	$350.00	60.8%	16.0%	40.1%	26.7%	58.0%	-4.6%	-0.4%	1.05B	-75.75B	-405.1M	0.57	2.40	N/A	N/A	1,377,134	786,216	3,863,684	3,461,255
2025-09-23	$429.05	$355.00	61.0%	15.8%	40.5%	27.2%	56.6%	-3.2%	-0.1%	977.8M	-71.39B	-401.3M	0.74	2.50	N/A	N/A	918,598	676,254	4,015,808	3,591,230
2025-09-24	$442.36	$355.00	61.6%	15.6%	41.0%	28.0%	56.1%	-3.8%	-0.4%	1.34B	-81.83B	-408.2M	0.67	2.30	N/A	N/A	1,453,489	973,383	4,076,857	3,661,724
2025-09-25	$425.00	$360.00	61.3%	15.5%	44.9%	27.5%	56.4%	-3.0%	-0.4%	833.4M	-67.50B	-402.5M	0.62	2.06	N/A	N/A	1,516,900	946,212	4,201,434	3,685,398
2025-09-26	$438.43	$360.00	61.1%	15.3%	44.7%	27.3%	55.0%	-3.8%	-0.3%	2.07B	-81.64B	-411.1M	0.60	2.02	N/A	N/A	2,474,759	1,485,371	4,419,489	3,751,711
2025-09-29	$441.79	$365.00	62.8%	15.7%	40.7%	29.8%	57.2%	-3.7%	-0.0%	987.1M	-77.53B	-412.2M	0.61	2.18	N/A	N/A	850,504	516,896	4,028,972	3,431,439
2025-09-30	$444.00	$370.00	62.9%	15.9%	39.7%	30.1%	57.3%	-3.9%	-0.0%	1.09B	-79.60B	-415.8M	0.53	2.17	N/A	N/A	1,001,812	526,967	4,159,558	3,530,122